A Simple Accounting Software Can Help You Monitor Your Business Better

When handling a business, being hands-on is a good thing, but unless you’re a certified accountant, it is best to entrust your bookkeeping to an accountant and equip your company with systems that can make things easier. Many new businesses risk failure because of improper bookkeeping, so do yourself a favour and get a simple accounting software to help you monitor your business better. Below are some of the accounting and bookkeeping mistakes businesses often commit. Make sure you don’t do the same.

• Not Using an Accounting Software – Excel is a great program; it’s just not elaborate enough to handle the more complex requirements of business accounting compared with non-generic small business accounts software such as those provided by Cash Manager Limited. A software specifically created for accounting is easier to use and provides more tools for you to better assess your business.

• Not Classifying Items Correctly – Being a business owner, it’s important to know how to properly classify your accounts even if you don’t do this yourself. You should have a basic knowledge of accounting terminologies such as income statement, utility expense, net profit, gross profit, and operating expense, to name a few. Labelling your cash wrongly will yield the wrong data, so avoid misconceptions.

• Not Updating Records – Remember to ALWAYS update your records. A common mistake of business owners is when they’ve recorded a receivable and it was not paid on time, they forget to take that into account in the books. You need to adjust your records to accurately reflect that this receivable has not been paid, to properly balance your sheet.

• Not Keeping Purchase Records Diligently – Receipts and other transaction records, no matter how small or trivial they may be, must be kept for future reference. They could also be used as proof for deduction claims or tax incentives, so keep them properly labelled and stored.

• Mixing Business with Personal Accounts – Some business owners place both their business and personal money into a single account to make it “easier” for them to track their finances, but they end up with more problems in doing so. Always separate your accounts for more efficient tracking. If possible, use a different debit card for your personal transactions and record out-of-pocket expenses properly.

• Not Keeping Backups of Records and Files – After using your simple accounting software, save the file immediately and label it with the right date. Then, create one or two backups (also with proper labels) and lock them away or save them in a password-protected folder. When creating backups, make sure that you have both a hard copy and a soft copy, and tell only the people you absolutely trust where you kept them.

Running a business is much harder than people expect, but with the right technology and employees, operation could be a breeze. A smart business owner will invest in products and software that would make running their business easy. Are you a smart business owner?

Sources:

(Top 10 Bookkeeping Mistakes Made by Small Businesses, allbusiness.com)

(6 Accounting Mistakes That Put Small Businesses at Risk, articles.bplans)

The post A Simple Accounting Software Can Help You Monitor Your Business Better appeared first on Cash Manager.

from WordPress http://ift.tt/1FxqET0
via Cash Manager
from Tumblr http://ift.tt/1BNlnVW

A Simple Accounting Software Can Help You Monitor Your Business Better

When handling a business, being hands-on is a good thing, but unless you’re a certified accountant, it is best to entrust your bookkeeping to an accountant and equip your company with systems that can make things easier. Many new businesses risk failure because of improper bookkeeping, so do yourself a favour and get a simple accounting software to help you monitor your business better. Below are some of the accounting and bookkeeping mistakes businesses often commit. Make sure you don’t do the same.

• Not Using an Accounting Software – Excel is a great program; it’s just not elaborate enough to handle the more complex requirements of business accounting compared with non-generic small business accounts software such as those provided by Cash Manager Limited. A software specifically created for accounting is easier to use and provides more tools for you to better assess your business.

• Not Classifying Items Correctly – Being a business owner, it’s important to know how to properly classify your accounts even if you don’t do this yourself. You should have a basic knowledge of accounting terminologies such as income statement, utility expense, net profit, gross profit, and operating expense, to name a few. Labelling your cash wrongly will yield the wrong data, so avoid misconceptions.

• Not Updating Records – Remember to ALWAYS update your records. A common mistake of business owners is when they’ve recorded a receivable and it was not paid on time, they forget to take that into account in the books. You need to adjust your records to accurately reflect that this receivable has not been paid, to properly balance your sheet.

• Not Keeping Purchase Records Diligently – Receipts and other transaction records, no matter how small or trivial they may be, must be kept for future reference. They could also be used as proof for deduction claims or tax incentives, so keep them properly labelled and stored.

• Mixing Business with Personal Accounts – Some business owners place both their business and personal money into a single account to make it “easier” for them to track their finances, but they end up with more problems in doing so. Always separate your accounts for more efficient tracking. If possible, use a different debit card for your personal transactions and record out-of-pocket expenses properly.

• Not Keeping Backups of Records and Files – After using your simple accounting software, save the file immediately and label it with the right date. Then, create one or two backups (also with proper labels) and lock them away or save them in a password-protected folder. When creating backups, make sure that you have both a hard copy and a soft copy, and tell only the people you absolutely trust where you kept them.

Running a business is much harder than people expect, but with the right technology and employees, operation could be a breeze. A smart business owner will invest in products and software that would make running their business easy. Are you a smart business owner?

Sources:

(Top 10 Bookkeeping Mistakes Made by Small Businesses, allbusiness.com)

(6 Accounting Mistakes That Put Small Businesses at Risk, articles.bplans)

The post A Simple Accounting Software Can Help You Monitor Your Business Better appeared first on Cash Manager.

from WordPress http://ift.tt/1FxqET0
via check this out
from Tumblr http://ift.tt/1ANKFbG

Selecting An Excellent Yet Simple Accounting Software: The Basics

As a business owner, you can be committed to only a few things with regards to your enterprise, namely: keeping the place up and running, and maintaining employee and customer satisfaction. While facets like finances should also be a genuine concern to you, it’s not your job to focus (and eventually stress out) on it entirely; that’s an accountant’s job.

This is where an intuitive yet simple accounting software, such as the one in the Cash Manager Limited accounting package, can help you out. If you choose the right one and use it appropriately for your business, accounting software can significantly save you the burden of all the number crunching and analysis and let you focus on the more important things. Here are a few tips for choosing the right one.

First and foremost, ask yourself if your business really needs one. Keep in mind that accounting software can save hours of time normally spent keeping track of finances compared to manually flipping records and inputting data. If you’re primarily a sole proprietor with little to no employees, low or no inventory, and only a handful of patrons, you can probably do the finances on your own. If your enterprise is on a more sizeable scale, however, then you could certainly make use of the benefit mentioned beforehand.

Next, take a look at your business’ experience with accounting software. Have you or your in-house accountant used such software, or accomplished relevant training using any accounting package before? Is the package you’re considering suitable to your current requirements? If so, you might be better off getting in touch with the vendor to know more about the offering. Having relevant experience is a plus since you can definitely hit the ground running; but don’t ever consider a lack thereof as a reason to pull back, as a good, truly simple piece of software for small businesses shouldn’t need any expertise or training at all.

Another important thing to remember is to keep your budget in mind. There’s accounts software for small business ventures that will cater to all budgets—you’ll just have to know where and how to look for them. If you intend to satisfy some pretty general purposes, you can do well enough with either free or cheap software. If your needs require a bit of specialisation, however, prepare to shed extra since the user base for specialised software is pretty limited.

The right accounting software can make or break your financial management process, so be sure to choose wisely. Take heed of the basic tips mentioned above to have a general idea, but don’t forget to ask questions along the way as well.

(Source: Choosing The Right Accounting Software: 2015 Buyer’s Guide, BusinessNewsDaily.com, December 8, 2014)

Other Sources:

6 Tips For Choosing Small Business Accounting Software, About.com

10 Tips: How To Choose The Right Accounting Software For Your Business, Sage.ie, October 4, 2012

5 Tips For Selecting Business Accounting Software, BPlans.com

The post Selecting An Excellent Yet Simple Accounting Software: The Basics appeared first on Cash Manager.

from WordPress http://ift.tt/1PQcl0E
via accounts software for small business
from Tumblr http://ift.tt/1L0BaWn

Selecting An Excellent Yet Simple Accounting Software: The Basics

As a business owner, you can be committed to only a few things with regards to your enterprise, namely: keeping the place up and running, and maintaining employee and customer satisfaction. While facets like finances should also be a genuine concern to you, it’s not your job to focus (and eventually stress out) on it entirely; that’s an accountant’s job.

This is where an intuitive yet simple accounting software, such as the one in the Cash Manager Limited accounting package, can help you out. If you choose the right one and use it appropriately for your business, accounting software can significantly save you the burden of all the number crunching and analysis and let you focus on the more important things. Here are a few tips for choosing the right one.

First and foremost, ask yourself if your business really needs one. Keep in mind that accounting software can save hours of time normally spent keeping track of finances compared to manually flipping records and inputting data. If you’re primarily a sole proprietor with little to no employees, low or no inventory, and only a handful of patrons, you can probably do the finances on your own. If your enterprise is on a more sizeable scale, however, then you could certainly make use of the benefit mentioned beforehand.

Next, take a look at your business’ experience with accounting software. Have you or your in-house accountant used such software, or accomplished relevant training using any accounting package before? Is the package you’re considering suitable to your current requirements? If so, you might be better off getting in touch with the vendor to know more about the offering. Having relevant experience is a plus since you can definitely hit the ground running; but don’t ever consider a lack thereof as a reason to pull back, as a good, truly simple piece of software for small businesses shouldn’t need any expertise or training at all.

Another important thing to remember is to keep your budget in mind. There’s accounts software for small business ventures that will cater to all budgets—you’ll just have to know where and how to look for them. If you intend to satisfy some pretty general purposes, you can do well enough with either free or cheap software. If your needs require a bit of specialisation, however, prepare to shed extra since the user base for specialised software is pretty limited.

The right accounting software can make or break your financial management process, so be sure to choose wisely. Take heed of the basic tips mentioned above to have a general idea, but don’t forget to ask questions along the way as well.

(Source: Choosing The Right Accounting Software: 2015 Buyer’s Guide, BusinessNewsDaily.com, December 8, 2014)

Other Sources:

6 Tips For Choosing Small Business Accounting Software, About.com

10 Tips: How To Choose The Right Accounting Software For Your Business, Sage.ie, October 4, 2012

5 Tips For Selecting Business Accounting Software, BPlans.com

The post Selecting An Excellent Yet Simple Accounting Software: The Basics appeared first on Cash Manager.

from WordPress http://ift.tt/1PQcl0E
via Cash Manager
from Tumblr http://ift.tt/1KfnBFy

Simple Accounting Software Programs Help Your Pub Stay in the Black

Heading to the pub after a long day at work or on a sunny afternoon is a favourite pastime of so many people. Pubs are busy and thriving local businesses with large amounts of customers at any one time. With so many small ticket items being sold every day, managing one of these social hubs can be a tall order, and that’s before we even get round to paperwork and the books!

One time consuming aspect of this which is absolutely vital is keeping track of all the associated expenses. With such a quick turnover of customers and supplies, keeping on top of all the books can get out of hand and it is so easy to become overwhelmed with paperwork that always finds a way to pile up when it comes to auditing time. But for this, there is an easy, time saving solution: a simple accounting software program. So why not make things a whole lot easier for yourself by enlisting software from Cash Manager to help you out?

At A Glance

Cash Manager’s simple accounting software was specifically designed for small businesses like our beloved pubs and has all the necessary data set out in one simple screen, with easy to navigate sections. A common problem with spreadsheet programs is that they often lack the key sections needed to properly catalogue your expenses and profits. But Cash Manager’s accounts software is fully integrated, included spaces for expenses acquired in buying stock, deducting wages and it can even calculate your net worth so far, automatically.

Customers

Every pub has its own pool of loyal customers, thus adding importance to the need for logging how much money you’re making on a daily, weekly and monthly basis. A spreadsheet program works to your advantage by having the option to mark each customer and itemise their bills. You may also see whether they paid by credit card or cash.

For the Accountant

If you employ an accountant, it is important that they can easily access your records to help you track your cash flow and deal with any other financial issues accurately and efficiently. An accounting program will help your accountant see the data clearly enabling a full evaluation. Another bonus is that this accounting software from Cash Manager was designed by veteran accountants with loads of experience, who have ensured that this program is specifically engineered to be easy to use for people with little or no professional accounting background with the input of lots of small businesses owners.

Keeping track of your accounts and on top of your books will work wonders if you stumble across any problems later down the line. The road to staying clean and organised with your accounts will be smoother if the small business accounts software tools you use an easy, inexpensive piece of software from a reputable provider, so why not give Cash Manager a call today to speak to a specialist and expert in the business.

 (Source: Do You Need Accounting Software?, PC Magazine)

The post Simple Accounting Software Programs Help Your Pub Stay in the Black appeared first on Cash Manager.

from WordPress http://ift.tt/1bfafdB
via accounts software for small business
from Tumblr http://ift.tt/1DaxkVW