Consult with a system professional who can review your business needs and recommend the right solution to provide you with data you can use.
Understanding the data that makes up your business’s financials is arguably one of the most important aspects of running a successful business. Data mining is what it is called today. Serious business owners should know the importance of having accurate, up to date and complete information. Are you using your time or financial manager’s time wisely? You have the ability to advance your business and increase your bottom line with the appropriate accounting software but sometimes it is hard to choose.
One out of three businesses spends time entering the data to invoice customers, then they enter the time into an external payroll system, and lastly, they may be also rekeying time to track job costs using excel. That means you’re spending triple the amount of money on completing these tasks when they could be handled in one place. Fat fingering of data and increasing the probability of errors is greater when you keep track of your information this way and are manually entering it in several places.
Eliminate the errors and extra costs by investing in the right accounting software solution for your business. Automating these types of processes and streamlining the accounting aspect of your business will increase your bottom line. Business decisions cannot be made with confidence if you’re financial statements are inaccurate or if you have data in disparate systems. Utilizing appropriate accounting software is essential for your team to easily produce accurate reporting while staying up to date. When was the last time you measured productivity for employees and labor?
Here is a short list of items you can make much easier with accurate information when you are using an integrated system.
- Inventory management
- Job / Project Profitability
- Shop Floor Control
Bank Reconciliation is more simplistic and effective with the right accounting software. Say goodbye to missing deductions, forgetting bank charges, and those pesky interest fees you once forgot when manually handling your reconciliations. Automating this process and reconciling monthly is no longer a huge burden.
Save time and man hours to produce company historical financials. Accounting software is refreshingly educational when it comes to comparing prior years’ activities. It also allows you to extract the data into a spreadsheet for sorting. Are you able to pull the last 5 years of historical data with a few clicks of a mouse?
The data entry time is minimal. Most banks now offer the ability to sync your bank statements into your accounting software. The ease of not having to manually enter each month’s transactions will save a ton of time leaving more for you to do what you do best! Most accounting software comes with the option to run payroll through it. Eliminate the time and effort it takes to run payroll through another system.
Reliability and accurately managing customers and vendors are essential to any business. Accounting software keeps history and age recorded. Vendor invoices input is paid on time allowing for cash flow and projections to be done with ease. Accounts receivable are up to date so you’ll know what’s outstanding at any given moment.
In summary, if you aren’t utilizing the appropriate accounting software for your business you could be spending quite a bit of extra money. Consult with one of our professionals to find the best accounting solution for your business. If you would like to compare Sage 50 with QuickBooks Sage 100 we can help.
For more information on Sage Payment Center give one of our professional consultants a call at 800.475.1047