The introduction of web accounting in Botswana is set to place Small Medium and Micro Enterprises (SMME’s) on a platform that will help them grow their businesses and profits.
Web Accounting is a web based accounting software package which can either be used over the internet (cloud computing) or on a server on a local area network. The suite is designed in such a manner that the lowest end user with little computer and bookkeeping experience can operate through the system.
Great Together Solutions, a citizen owned company, has partnered with the Web Accounting Company in South Africa to introduce this accounting solution in Botswana for the first time.
In an interview with the two directors, Leago Katlholo and Bashi Pule, it was revealed that though this accounting solution has been in the market for over seven years, in Botswana it’s a new phenomenon. Web accounting is believed to be ideal for the SMME’s as most of them cannot afford to operate a fully fledged office.
The two directors said this solution would promote and manage the SMME sector in Botswana. They said in every transaction or awarding of tenders in the country, up to date business records are required. However, the tools in the market that assist business to keep the records up to date are expensive.
Katlholo said SMME’s have been losing out on government tenders due to lack of proper book-keeping records.
“Web accounting will give the SMME’s an opportunity to process their accounts on the web from where ever they are, giving them an opportunity to operate from remote locations with little or no advanced setup,” said Katlholo.
He added: “We are getting into an era where the Botswana Unified Revenue Service (BURS) will demand proper business records hence it’s time we accept that the tax man is part of our business.”
He encouraged organizations, which directly deal with SMME’s to adopt the solution as they will be able to monitor projects off site.
Giving the overview of the solution, Pule said the software has 6 major modules, namely: System Configuration, General Ledger Cashbooks and Journals, Debtors, Receivables, Creditors, Payables, Inventory and Job Costing.
Web Accounting allows the user to save on multiple installations, multiple training while down times regarding data and history losses are reduced to zero