Working with small business owners, we hear all the time that one of the biggest reasons people put off getting their financial records in order is because accounting scares them.
A critical piece of running a business smoothly, effectively, and with as few hiccups as possible is managing the books. A properly designed and implemented accounting framework should contribute many benefits to your organisation, including:
A Foundation For Growth:
The right accounting software can help you as your company grows; expanding as your business expands, allowing for additional users and offering the kinds of reports and other business intelligence data required.
Better Decision Making Capabilities:
Sound accounting software can provide both a snapshot-in-time look at your organisation, as well as the detailed reports and other data necessary for long-term strategic planning.
More Accurate Information:
With fully integrated accounting software, you will not only have more information at your fingertips; it will be more accurate information. Unlike a manual accounting system, where a great deal of time is spent cross-checking figures recorded in different ledgers (and where the potential for errors dramatically increases), in a good, computerised accounting system, information is entered only once and is used throughout the system.
Improved Cash Flow:
Cash management is essential for all businesses. Integrated billing, inventory, accounts receivable and accounts payable allow you to manage that valuable cash more easily and efficiently. Better cash management provides your company with more options for revenue-generating campaigns and long- term growth.