10 signs You’ve outgrown QuickBooks

Overcoming Obstacles to Small & Medium Business Success

QuickBooks is amazingly diverse and easy-to-use software for a growing business, with many ways to expand the software so that it can evolve with your business. However, there will come a point when your company will outgrow QuickBooks and it is no longer the best choice for your financial management software.

You love QuickBooks. QuickBooks may have been good to you. But maybe it’s time to move up.

Your business has been using QuickBooks for years to manage customer accounts, keep track of inventory and business finances, create forms for your business use and store information on your customers, vendors and other contacts. You’ve purchased all 20 concurrent licenses, you’ve set into motion aggressive growth plans, and you’re ready to formalize the financial management of your company. Now is the time to consider why you need to move beyond QuickBooks:

1. Industrial-strength Information Security:
Small and medium-sized businesses have the same information security needs as a large business. You need the peace of mind that your company financial, customer, inventory, payroll and reporting information is proactively managed, backed up, has redundancy/failover capability and protected from external security intrusions.

2. Full/Tighter Business Integration:
In the global marketplace, it is critical that you consider tools that allow you to integrate your business to save money and integrate with your suppliers and customers for additional responsiveness and profit.

3. Greater Productivity and ROI:
You want all of your employees using the best tools to manage sales order processing, inventory, customer relationships, payroll, and the like. If you have more than 20 people who need access, it’s time to move up.

4. Special/Unique Business Requirement:
Your customers and business are unique. You need to have a financial system that adapts to your business, bringing you the greatest benefit. Small and medium businesses should never have to compromise on taking care of business.

5. Better Business Planning/Reporting:
To compete today, small and medium businesses need to have the best planning and management tools. You need to understand where your business stands at all times, where your customers are and have access to information to make faster, more informed decisions.

6. More Transaction Capability:
A small and medium business should never be held back by their financial system. Being able to handle more customers, vendors, inventory items, internal and external customer requirements – and all at greater transaction volumes and speed – are key to your business’s growth and success.

7. Tighter Internal Controls:
Waste and internal process cost rob profitability. Having tighter internal controls gives you the visibility to reduce or eliminate waste, drive out costly processes and create new incremental profits for your business.

8. Full Financial Accountability:
Small and medium businesses need full audit trails, double entry accounting, rich business reporting and automated processes just like a large business.

9. Business Differentiation and Advantage:
As you compete and grow, you need tools that directly contribute to creating advantages that your competition doesn’t have and differentiation that your customer recognizes. Your fully integrated financial system can provide new levels of responsiveness, customer satisfaction, and profitability to your business – making you and your business stand out from the crowd.

10. You Want Help NOW!:
When a problem hits, you want it to go away right now. Don’t spend time ‘browsing’ for answers or waiting for a support ‘call back’ or get charged by the minute for every problem. Rest easy by getting the best, immediate application and technology support possible, right now – no waiting!

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Why do you need an Accounting Software?

why-do-you-need-an-accounting-software

The main beauty of an accounting system is reporting features which they bundled with, a software with poor reporting system will fail in the market, so that a perfect accounting software should have proper accounting maintenance system and reporting facilities.

One of the main importance of accounting software is to maintain the records of all accounting and financial functions systematically and it is also used to summarise, measure, compare and verify financial data based on the old entries. On the other hand, accounting software is being evaluated by its technology, it needs to be cutting edge and user-friendly that can drive your software to run very fast, smooth and more accurate way.

Why you need accounting software?

Every success has a reason behind it. The success of a company is depending on how efficient the company is using technology. On this way, the process of choosing a right accounting software needs to be carried out in an expert way, choosing a Software with poor technology or poor facilities will lead your business to disaster, a right accounting software will reduce your work load, reduce operation’s cost and man power cost, more over a perfect accounting system can do some important works more faster han human and it is also produce more accurate and error free financial reporting system.

When you are in mid level or large company where you can’t handle accounting by manual paper work which will not be more accurate and more efficient for your business any more. when your business is growing to a next level, you need to be equipped with an automatic accounting management system that can do your work more fasted and it will also save time, tons of money for your business

When you are selecting an accounting software for your business, you need to be careful about the following features present in your software or not.

Account Payable Management:

Account payable feature is more important to any accounting software which needs to carry out all functions of accounting receivable management. This software should have the facilities to manage vendors records, check printing, payment calculations, payment scheduling, purchase order maintenance and account payable entries.

Account Receivable Management:

Account receivable is also one of the important features that all accounting system should packed with. Accounting receivable including the client accounts management, invoicing, AR reporting, billing, sales attributions, cost of the goods, recurring invoices, tax calculation, credit payment, receipt, quotations, estimation facilities, email invoicing, return orders and credit management.

Budget Management:

This feature will help the business to create budgets and forecasting report in more accurate way. Accounting software should comprise of the following budgeting features

  1. Scenario
  2. Versioning & Approvals
  3. Sales Forecasting
  4. Actual Variance Reporting
  5. Budget Reporting

Cash Management:

Case management is the most important functions in accounting, the software can management the cash flow more accurately, It should capable of maintain, store and product cash flow and fund flow statements. The software should also have facilities to do cash flow analysis.

Other Features:

Fixed asset management

General Ledger and Financial Reporting management

Inventory Management

Job Costing

Payroll Management Facilities

Purchase Management

Audit Trial

Take Your Decision Now:

The success of a company growth is depending on how you are attached with new technology, choosing a right accounting software for your business will boost your business to a next level. This is the time to decide whether you are continue with the manual paper work or to be equipped with highly advanced accounting system.

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