5 Ways to Upgrade Your Accounting for 2016 to Save Time and Money!
Upgrade to New Software
Several great options are available for small business owners to take control of their accounting through quality software. These software programs are delivered to your business via the internet, which makes them more affordable up front and keeps your software current. QuickBooks Online is one of the most prominent, with plans starting at $10.36 per month,Quickbooks is more affordable than ever. Another app that is free for the basic package is Wave accounting, an innovative app that only charges $5 per employee for payroll.
Use Apps to Help with Data Management
Bill.com is an integrated add on for Quickbooks online which gives you automated systems for managing bills and invoicing. Use this to reduce time as well as automatically save every bill and invoice in an easy to access location online.
Google Apps ($5/month per user) are a great way to organize documents, manage long distance communication, and even store photos and documents. From Google Drive (online storage) to hangouts (video and text chats), the many tools in Google apps provide a variety of benefits to your accounting system.
Evernote gives you tools to manage your business’s many activities from any location. Your phone and computers are integrated into Evernote‘s capacities so that you can always access to-do lists and projects.
Re-evaluate Your Process
Is your software use currently compatible with your business systems? If you spend most of your time in the field, performing bids, working job sites, purchasing supplies, and other activities, do you then have to transfer large amounts of paperwork into your accounting system at your office later? A software system that allows you to enter invoices, attach receipts, and set up customer accounts from a phone might be a better idea.
Do you need to make changes to better serve customers? If you lose information in your accounting processes and have difficulty locating customer information, some changes to your software and systems are in order. When, where, how information is entered and who enters it are all questions that you and every member of your team must be able to answer easily to prevent data loss when serving customers.
Is a process taking too long and you need to shorten it? Time is money, and if you are spending all your time working on your current accounting systems, you are not working on your main thing: serving your current customers and acquiring new business.
Digitize and Reduce Paper
Documents require space, time, and energy to manage well. While many people are comfortable with the old file and cabinet system, there are ways to increase document security and accessibility while reducing the time you spend dealing with documents on a daily and long-term basis.
Cloud storage (online storage using a variety of servers to prevent data loss) provides opportunities to store documents with reasonable amounts of security and accessibility. Many people like to think about the big name hacks in the news, but for small businesses the most likely data breach is actually going to happen from physical materials you have in your office. Unless your office operates under a firm “always locked or supervised” policy, physical documents on your premises are often unsecured. With cloud storage, documents are no longer stored on premise: this reduces your floor space footprint as well as your information liability.
Use a Professional to Help
Finally, each of these steps may be increased through advice and consultation with an accounting professional. Whether it is helping you review your current systems, or as part of a long-term accounting relationship, accounting professionals will take the hassle of your accounting and turn it into a regularly manageable part of your daily business. For more information on accounting systems, software, and business tips, please feel free to contact us today.
