Reports provide you with a clearer transparency on the position of your company and you’re able to make more informed business decisions with the additional information.
For example, if your Sales Manager asked you, “Do you want to sell 100 units to Mr. Smith? If you don’t review an aged receivables report (this report lists accounts receivables that are past due) on a periodic basis your answer to your Sales Manager might be, “Sure, why not sell to Mr. Smith?” However, if you regularly review your company’s accounts receivable aging report and were aware of Mr. Smith’s payment history your answer may be, “Absolutely not! Mr. Smith has $15,000 in receivables outstanding for over 120 days.” Sometimes making the sale doesn’t make sense, especially if there is concern over whether or not your customer will pay his or her outstanding debt to your company. Again, transparency is key to making smart business decisions.
Wouldn’t you like to reduce the time it takes for you to gather information for your Accountant during tax season? Quickbooks and other accounting software programs help immensely when it’s time to prepare for tax season. When your system is automated, you can easily provide your accountant a copy of your company’s business transactions. Additionally, a Profit and Loss Statement and Balance Sheet can be generated easily for your tax accountant.
Your accountant is sure to have significantly less follow-up questions for you when preparing your company’s tax returns when he or she is provided with the detailed information an automated system can provide.
Accounting software includes various modules which encompass every aspect of business your company may perform. By covering all aspects of your business, there is no need for you to use additional software packages. For instance, the software may include the following modules:
- Accounts Receivable: Logging your customers and their activity helps monitor not only outstanding balances but can provide information on your customers trends and knowing your customer’s purchase history may make it easier for your Sales force to drive sales.
- Accounts Payable: Tracking your purchases and outstanding liability to your vendors helps to ensure timely payment and paying vendors on time will help you maintain a positive relationship with your vendors.
- Payroll: The ability to do your payroll in house saves your company considerable money as third party payroll service providers can charge steep fees for their services.
- General Ledger: The general ledger is the most important module because it houses all of your company’s transactions and is where financial reports gather data from. Please see our general ledger page for information on the services we provide.