Have you
ever tried on a shirt or jeans and found they didn’t fit at all? They looked great on the hanger, but
that was the end of it. Accounting
systems come in all sizes, shapes, and colors just like clothing; and just like
clothing, some accounting systems fit your business better than others. It’s not that easy to spot in a mirror
when an accounting system does not fit a business, but there are other signs
that will give it away. Here are five
of them:
Numerous Workarounds
A
workaround happens when your current system cannot do all the things you need
it to do. A workaround can take
the form of a spreadsheet, a report, a program, or a database that is created
with extra time spent every month so you can get the information out of your
system and manipulate it the way you need it to run your business.
Since no
accounting system is a perfect fit for any one business, it’s normal to have
some workarounds in place to meet your unique business needs. If you have too many, it might signal
that you’ve outgrown your current system and need to find an accounting system
that provides you with more functionality.
Downtime or Wasted Time
If you are
unable to access your system when you need to do your job, then you are
experiencing downtime in one form or another. You may be waiting for a file to be fixed, or the system may
actually be down. If your system
runs slowly, then that’s another form of downtime that wastes your time. If you have to take time to make
backups and perform restorations, this type of activity does not add value to
running your business. When
you have too many of these time-wasters, it could be time to look for a better
way.
Old Technology
If your
accounting system is more than about three years old and you’ve chosen not to
update it, then you may be missing out on newer time-saving features that could
help you reduce the amount of time you spend doing your accounting. If your accounting system is more than
six or seven years old, then you are definitely losing productivity. It’s time to bite the bullet and learn
a new system so you can experience better profit margins in your business.
Limited Users or Security
If your
current accounting system does not provide you with enough users, then you
might have more expensive employees doing lower level jobs, which is costing
you more in payroll expenses.
You may
also need certain user permissions to be more granular than they are in your
current system as you grant access to certain parts of the system to different
users. If you’re on
QuickBooks, that’s a really easy fix, so please talk to us about this.
We find
that user access is a hot button with a lot of business owners, so if it’s true
for you, please reach out and let’s have a conversation about this.
Limited Physical Access
If your
accounting system is located on a private PC or server in your business, this
limits access to your files. If
you have more than one business location, you like to work from home, or your
employees work from their homes occasionally, then you may want to look for a
system that accommodates “anywhere, anytime” accounting. This is a pretty easy fix too, as this
requirement is now quite common with business owners today.
The same
can be said for mobile access. New
apps enable many accounting features to be completed from your mobile phone,
such as checking bank balances, approving a bill, and taking a picture of a
receipt and uploading it, to name a few.
If you want to do you accounting from your mobile phone, ask us about
mobile apps that we can link to your system to enable this functionality.
Boosting Your Accounting Productivity
We might
be a little biased, but accounting has gotten to be a lot more fun in the last
few years with advancements in technology. If you see any of the signs listed above, it might be worth
a conversation to see if your accounting system is the best fit for your business. Just reach out anytime.
