Let’s face it, very few of us like accounting but no matter how much you might dislike numbers, you simply can’t avoid them if you’re running a business.
Proper accounting practices are a small price to pay for understanding the profitability and status of your business. It’s not as brutal as you might think though. If you’re imagining a dark, dusty office with an old desk and a ginormous calculator stacked on top of accounting ledgers, journals, and filing cabinets, that’s just your nightmares talking.
With today’s advancements in technology and wide options of accounting software, you can take care of most of your accounting functions quickly, correctly, and not have to worry about your calculator running out of paper tape.
Most accounting software today really is more like business management software. Capabilities are far beyond simple accounting. If you’re still manually struggling to take care of any (or all) of these tasks, or even using different software solutions to manage each task, consider moving over to a business solution that manages your accounting and all your other operational needs (it helps cut back on multiple data entry too).
Business Management Software can help you manage:
Inventory – Manage inventory automatically – every time you create an invoice and add products, those items are deducted from inventory. Reports can be completed quickly and accurately (and typically run while you’re grabbing your keys to head to lunch).
Sales Activity – Today’s accounting software can offer real-time information for its networked users. This is very helpful when you want to know what your sales look like every month. (How about those last few days of the month and you want to know every minute if you’re getting closer to hitting your numbers? Sound familiar?)
Job Costing – In addition to standard sales reports, you can stay on top of job costs and always know if you’re profitable and on target.
Payroll and Taxes – You know as well as I do that paying employees goes far beyond simply writing a check every couple of weeks. Your software should give you the option of a simple payroll solution. One that simplifies your processes, tracks your payroll taxes, employee taxes, filing and paying taxes, and even track vacation and sick time.
Payments – If you accept credit cards as a form of payment, your customers will love you. If you don’t, ask yourself why not. Invoices are typically paid faster, internal processing costs are reduced by about 16% on average, and sales are generally about 20-30% higher from customers paying with a credit card.
So if you’re worried about the 2-3% credit card fees, you’ll be able to cover that just in the time you save by not having to manually enter all those payments! Credit card processing can integrate with your accounting software so payments are automatically applied to invoices.
These are just a few of the things well-rounded business solutions can mange for you. If you’re accounting software doesn’t offer all these benefits, ask yourself if you’re using the right solution. Quantum Buyers has several solutions to help you find the right one for your specific business needs.
Call us at 866-686-1329 or e-mail us today at firstname.lastname@example.org to learn more about a business solution that can help you run your business more effectively and efficiently.