|
|
Like this article? PLEASE +1 it! |  |
|
Accounting Software - Getting it right!
| Guest post by: Kathryn Crockford AFA |
Article Overview: The benefits of using an accounting software package (ASP) such as Sage or Quick Books are not limited to the potential reports you can get if you use them correctly. There is a huge time saving opportunity in using an ASP as well as an easier way to make your accounts effective by ensuring they are fully reconciled. This article aims to show you the benefits you can gain by choosing (and using!) an appropriate accounting software package and that it does not need to be expensive!
 |
Free Download - Are your accounts SMART? By Kathryn Crockford AFA |
Accounting Software - Getting it right!
In today's economic climate, perhaps more than ever, having your accounts up to date, accurate and relevant is a must.
Using an accounting software package (ASP) is my top tip for anyone running their own accounts. They can cost as little as £30 ex-VAT (some versions are free on-line) and so do not have to be expensive. If you need something more sophisticated but don't have the cash you can rent various accounting software packages by the month, some even allowing access via secure virtual server.
A few people have told me they do not see this as relevant to them, even if they are running their own business:
"My accountant/bookkeeper does all that" is one favourite, or
"All the figures are in my head, I don't need a computer" is another.
To these people I would like to say the following:
"In what way do you present your accounting records to your accountant/bookkeeper? How much extra work do you think you have to pay for to get your accounting information in order - before they can even begin to calculate your profits and/or tax liabilities?"
Even if your paperwork is neatly filed with typed or handwritten summaries, there are still a number of checks and balances to go through - such as:
Establishing a correct bank figure
Summarising Sales (Money In) & Purchases (Money Out)
Who owes money to you?
Who do you owe money to?
Should you be performing these tasks for yourself? Is the information relevant to you? How much less would your accountant charge you if you were to present him/her with this information along with your neat and tidily filed paper-work.?
"A-ha" you cry "I can do that without having an ASP. I have my manual cash book and/or my spreadsheet."
"Fabulous!" say I "But what else can that do for you? How long does it take you to do?"
"The biggest advantage of the ASP, whether it is Sage, Quick Books or MYOB (to name a few) is that from the single entry of a document, or a bank receipt or a cheque payment you get a vast array of information back. All of which is relevant to you. All of which will help your accountant do a better job for you, in less time and for a smaller fee.
Please do not think that your accountant will be unhappy when you turn up with a box file containing ordered receipts and a back up file copy of Sage Instant Accounting or Quick Books Simple Start instead of the usual box file (posh man's carrier bag) full of unsorted receipts.
Whether you are using an accountant/bookkeeper or not, using an ASP will enhance you business and show your customers and suppliers that you are a professional firm using 21st century methods.
I am not suggesting you invite them round for a cuppa and give them a guided tour of your books. No.
I am referring to you being able to supply them with crisp, clean professional documents, complete with your firm's logo and detailing:
to your customers what they have bought, how much it costs and when it is should be paid.
And for your suppliers you could post a remittance advice with your cheque, telling them what you are paying for, or even better, email them the remittance advising that you are paying electronically direct into their bank account and on which day the money should arrive.
These are just a few good reasons in favour of using an accounting software package to keep your own accounts up to date, accurate and available."
Choosing an Accounts System
Disaster from Day One or Successful Accounting Software Implementation
Your software is only a tool
Accounting Software- A Business Model
Business Management Software
Call Accounting Software for the Budget-Conscious Manager
Eliminating Objections to Price
Online Small Business Technology Tools
It's All About Using the Proper Resources
How to Choose an Accounting Program
Find the Best Tricks for Correcting Wrong Directions in Accounting When Working for Yourself
When to Develop Custom Software or Websites: Hire's Innovation test
Outsource Accounting
What is POS or Retail management software and why it is required?
THE Critical Financial Report Your Business Needs
Using Law Practice Management Software To Protect Your Practice From Liability
How to Decide on Outsourcing Accounting Services
The Hospitality Industry and Call Accounting
Call Management Software
VAT - an Overview
Article Tags: accounting software, quick books, software package
|
About the Author: Kathryn Crockford AFA RSS for Kathryn's articles - Visit Kathryn's website Although the company has only been trading since April 2007, Kathryn Crockford AFA (director and founder) has been self employed as a sole trader within the industry for 10 years prior to the company's incorporation, with over 20 years experience in the industry overall. We have a range of clients that we prepare accounts for using our own premises and resources as well as clients that we look after at their premises with the addition in some cases of a remote access service via the internet to maintain records at the clients' premises whilst working off-site. Click here to visit Kathryn's website   Accounting Software Getting it right Manage your credit control improve your cash flow Are your accounts SMART |
Related Forum Posts
Seek Venture Capital & Funding
- Hello,
Greetings from India.
I am Seeking Venture Capital for Offshore Software Company Start-up. Need advise along with Business Model Sample.
I have a basic outline for an offshore company.
1. Technology - like Microsoft Dot Net, Java, LAMP
2. Talent Team - Found Good Technology Developers.
3. Where I can get the leads/potential customers - Leads have been identified who are willing to move forward offshore projects.
4. I do not have resources like funding. It is a very critical factor to me
Industries: Manufacturing, Real Estate, Retail, Insurance, Distribution & Logistics, Healthcare, Industry Associations and Software Product Development, Agricultural Industries and Etc.
Services: Offshore Software Development Company.
Offices to be located: Hyderabad, Andhra Pradesh, India and USA.
Products/Services/Applications in areas like POS & Billing, Sales & Distribution, Production Planning, Material Management, Inventory Control, Plant Maintenance, Purchasing, Accounting and Logistics. Dynamic Web Programming with Database Driven Content Management Systems, Online Stores for E-Commerce, B2B Solutions, Community Portals, Website Redesign and Development, Custom ERP with Enterprise Wide Functional Modules such as Marketing, CRM, Accounting, Inventory Control, Sales & Distribution, Production Planning, Purchase & Stores, Logistics and Supply Chain.
Seek your further questions and help.
Thank you,
Best Regards, Jayapratap.
Re: How Do You Check Google Ranking?
- I often sign out all Google account before checking Google Ranking and i use "Grease monkey" Software which make it very easy by giving the SERP's in serial order.
Wearing different hats in Business
- I have a business that produces beautiful custom rugs for home and business environments.
Different hats that I'm wearing...
Rug Fabrication - 10 [i:21cr28m8](partially outsourced to an outfit here in the US)[/i:21cr28m8]
Customer Service / Sales - 8-10
Bookkeeping - 1
Marketing - 6
Website development - 5 [i:21cr28m8](mainly outsourced)[/i:21cr28m8]
SEO, SEM - 6-8
Accounting - [i:21cr28m8](outsourced)[/i:21cr28m8]
Re: You don't need the new iPhone
- I am 110% in agreement with him. A friend was in my house yesterday asking me why the Software maker Adobe had to release another CS6 of their products when we have not fully utilized the good CS3 we are still using. I told me I will stick with CS3 because I am using it to design good website and enjoying the Photoshop part of it. I told him they need to keep on doing new version so as to make more money and keep their investors happy otherwise they don't need to develop new version
The Little Man Introduction
- Good Morning,
This is John Hoover from Little Man Consulting. Our company has been floating along as a after thought for a few years. This year we decided to make a go of it. So far we are doing great.
We are Virtual Administrators, Web Developers, Database Designers, and Software instructors. Basically, if you have someone in your office to do it, we can do it virtually. Our company was created to "Provide Big Business Resources to the Small Business".
Wish me luck, I plan on revolutionizing the small business world with this!
Share this article with your friends. Fund someone's dream.
Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.
by: 
Build Your List with Joint Venture Giveaway Events
May 2012 Top 100 Social Media Experts to Follow on Twitter
What to measure to be phenomenally successful in business
10 mistakes of media relations
Making Money Blogging Can Be Tons Of Fun 
Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
Build Corporate Credit for Your Small Business
10 Steps to a Great Support Team
What is Give Back Marketing?
Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.