Naturally, both are equally important. The real questions are:
How do you determine if you’ve chosen the right accounting software but aren’t fully applying all of its features and functionality to your best advantage?
Or, once you are fluent in your accounting software, when do you know that your business’ challenges, goals, and needs have outgrown it and it’s time to upgrade?
As the next article in our Bookkeeping and Accounting Best Practices series, this post is designed to shine more light on how Accounting Business Solutions by JCS can guide you toward discovering the answers to both of these questions, and why that’s important.
Let’s start with how you’re using your current accounting software.
There’s a difference between using and leveraging accounting software!
Accounting software has a variety of functions; all of which are vital for managing daily financial transactions and records. Your accounting software should have each of the following features which enables it to perform its “duties”:
- Bookkeeping – for generating invoices, tracking expenses, and recording transactions
- Financial Reporting – a primary functionality of accounting software, financial reporting includes the generation of income statements, cash flow statements, and balance sheets
- Tax Compliance – Remaining compliant with all pertinent tax laws is critical for a business’ growth and health; accounting software generates tax reports and tax calculations.
- Integration – This is where the transition between using your existing software and choosing more suitable software begins; you want to be using accounting software that can ingrate with other applications such as customer relationship management (CRM), inventory management, and payroll software.
- Security – It’s imperative to stay current with all data security measures; your accounting software must be able keep all data secure through access controls, regular backups and data encryption. Once again, this is a very fluid and necessary accounting software function that can prompt the need to transition or upgrade from what you’re currently using.
When it’s time to choose, choose wisely.
Typically, our first conversation with customers who aren’t sure if they need to learn more about, upgrade, or say good-bye to their current accounting software, begins with the following type of question:
Where do you want your business to go and how do you get there?
Replies vary from “I want to grow with making a prohibitive investment,” “I want to be more efficient without adding more staff”, or “I want to become more profitable and get more actionable information from my data.”
Based on their industry and type of business – manufacturing, distribution, field service, for example – we tailor our response according to the accounting software – and accessories – that will take them where they want to go in the manner and timeline that’s most compatible with their objectives, challenges, current resources, and budget.
In effect, it takes experts to truly know which accounting software is the best fit for emerging businesses. Accounting Business Solutions by JCS was founded on ensuring each customer has a clear understanding of why we ask certain questions and what they mean before collaborating with them to arrive at the next best step – either training on their current software selection, or selection, implementation, training, and support on new accounting software.
With experience and expertise in accounting, accounting software, and industry, JCS’ consultative representatives help guide small to midsize businesses to the right solution. But our relationship doesn’t end there. We remain available to answer questions and assist before, during, and after new software or add-ons are implemented.
Give us a Call today to discover how the right accounting software can take your business beyond accounting! 800.475.1047