Whether you are starting up or already running a small business, you may avoid using software. This could be due to the cost, because you think it’s confusing, or you use an Accountant for tax and think software is unnecessary. But, what you may not know is accounting software can help you streamline your business and increase your bottom line. It helps ease the burden of financial administration, allowing you to focus on your business passion instead!
Here are the top 4 reasons why your business can benefit from accounting software.
1. Keep your Finger on the Pulse of your Business
How often do you review your financial information? By only looking at your financial information once a month or at GST time, you could miss seeing valuable information in a timely manner which may affect your business decisions.
2. Bring your Business to the Next Level
Are you still generating quotes using Microsoft Word templates? With accounting software you can create and send professional looking quotes to potential customers and when accepted convert the quote to an invoice then match the payment to the related invoice when payment arrives. This eliminates replicating data entry and reduces admin time.
3. Have Accurate Records for Tax Preparation
At tax time do you find yourself looking for your shoe-box full of receipts, trying to remember which expenses were business related? By keeping your records within an accounting system the end of year process can be less of a burden. You capture the correct information throughout the year and eliminate the need for the accountant to have to enter your data records into their tax system.
4. Control your Cash flow
Do you know how much money you can expect and what bills you will have to pay over the next 30 to 90 days? Every business needs to know what is coming in versus what is going out. Accounting software can provide you with cashflow reports, budgets and up to date profit and loss reports to ensure you can manage one of your businesses most valuable assets – cash!
Would you like to find out how GoFi8ure can help move your accounts onto life changing accounting software? Email us on firstname.lastname@example.org or call us on 0800 463 488 for your complimentary assessment today.