Sometimes it’s hard to know where to start when you come back to the office in January. You may have some work left over from 2017, but you probably also have a new set of goals to meet and a new budget to watch.
Some things can wait, but your accounting work can’t — if you hope to maintain a positive cash flow. There are bills to pay, invoices to send, and other bookkeeping tasks that need your attention.
How do you know what needs to be done, and by when? If you’re using a manual accounting system, you might use a combination of paper calendars, file folders, and lots of sticky notes. Maybe you’re getting some automated help by paying bills on your bank’s site and creating a spreadsheet or two. But it’s all so disjointed: There’s no central clearinghouse for your accounting data.
Changing Your Ways
January is a good time for reflecting on how you do your work. Can you—or whoever does your bookkeeping—get it done in less time while increasing efficiency and productivity?
The short answer is Yes. As you’re pondering the effectiveness of your accounting workflow and contemplating changes that will improve productivity, consider how automation could streamline the process. Small businesses that have made the transition from manual bookkeeping to QuickBooks have found that the software:
- Minimizes duplicate data entry. How many times have you written a customer’s name and address or a product description and price by hand? Once you enter a detail like that in QuickBooks, you never have to do it again. When you need it, it’s either available in a drop-down list or it appears automatically.
- Reduces errors. It’s easy to make calamitous mistakes when you’re copying existing data. Numbers get transposed, names get misspelled, products get priced incorrectly, etc. — resulting in customers getting confused and your bookkeeping being inaccurate. Again, QuickBooks stores your original entries so they can’t possibly be changed inadvertently.
- Makes your calculator redundant. QuickBooks does all calculations.
- Helps you pay bills on time – and accurately. Once you’ve entered billing information in QuickBooks, you can submit future payments by using that model and changing data like dates and amounts. QuickBooks also has a sophisticated reminder feature that pops up as soon as you open the software. You’ll get advance notice when a bill is due.
- Walks you through invoice creation. QuickBooks comes with customizable templates for both sales and purchase forms. You select existing customers, products or services, sales tax, etc. from drop-down lists. Data entry is minimal.
- Provides reports in seconds. It’s difficult-to-impossible to compile the reports you need manually. QuickBooks comes with dozens of pre-built reports that use your company’s own data.
QuickBooks does much more to automate your accounting tasks and help you save time; produce more accurate, uniform records and transactions; and improve relationships with customers and employees. Interested? Let us know how we can help. We can get you set up with QuickBooks or even take over your bookkeeping tasks entirely. Contact us today at 816-743-7700.