An estimated 98% of businesses are small businesses. With lower revenue and tighter budgets, many small business owners take on the task of handling their own bookkeeping. But here’s the challenge: handling bookkeeping the old-fashioned way is time-consuming and error-prone.
Accounting software can help you manage your business’s finances more effectively. But getting your software set up can feel like a daunting task. That’s where professional setup services – like ours – can help ensure things go smoothly and that your software is set up properly.
Let’s take a closer look at the real advantages of professional accounting software setup and how your business can benefit from the right accounting technology solutions.
How Accounting Technology Can Benefit Your Business
It’s no surprise that 82% of small businesses use cloud accounting for financial management. Accounting technology can benefit your business in so many ways.
The right solution will:
Save Time and Automate Tasks
Accounting software eliminates the need for manual bookkeeping and automates tasks to save you hours of work each week. No longer will you need to download CSV files from your bank or credit card accounts and manually enter that data into a spreadsheet.
Accounting software syncs with your accounts and pulls your data automatically.
It can also simplify or automate many other mundane tasks, like:
- Invoicing
- Sending payment reminders
- Making credit card payments
- Generating reports
Along with saving time and automating tasks, accounting software can tackle another big challenge: accuracy.
Increased Accuracy
Manual bookkeeping is not only time-consuming – it’s also error-prone. Whenever data is entered manually, there is always a risk of inaccuracies and errors. We’re all human, after all.
But those errors can have serious consequences, including IRS civil penalties due to spreadsheet errors.
Manual processes can lead to:
- Errors of omission
- Reversing entries (like credit instead of debit)
- Transposition errors (e.g., writing 52 instead of 25)
- Reconciliation issues
Accounting software can help you avoid these blunders by streamlining and automating tasks and calculations for you.
Less Stress During Tax Season
Tax season can be stressful, especially if you’re not prepared. Having to compile financial data and reports can make things even more stressful.
Accounting software can help streamline things by allowing you to store your invoices, receipts and financial statements in one centralized location. If you work with a tax professional, you can provide access to your accountant to make their lives easier, too.
Easy to Outsource Your Accounting or Bookkeeping Needs
If you work with an accountant to help with certain aspects of your books, accounting software will save them time and ensure they have all the data they need to get the job done.
These are just some of the many advantages of accounting software, but to leverage these benefits, you need to ensure your software is setup properly.
The Advantages of Professional Accounting Software Setup
Accounting software is convenient and will save you time when managing your business’s finances, but if it’s not set up properly, it could wind up causing more headaches than anything else.
Professional accounting software setup is worth the investment. Why? Because a pro will help:
Save You Time and Reduce the Risk of Errors
Whether you want to start using QuickBooks, Gusto for payroll or some other accounting solution, having a professional handle the setup will save you time and ensure it’s done correctly.
There’s more to the process than just “installing” the software. A professional will ensure everything is setup properly. For example, an accountant can help you set up your chart of accounts.
Maximize Integrations for Streamlined Accounting
Many accounting software solutions integrate with other software to further improve the accuracy of your data and save you even more time.
QuickBooks, for example, integrates with more than 750 business apps, including Gusto, Fathom, Expensify, BILL, and more.
When you hire a professional for your accounting software setup, they will take care of the integration process for you so that you’re up and running as quickly as possible.
Provide Guidance and Answer Questions
There’s one advantage of professional installation that is often overlooked: guidance and advice.
When you work with a pro, they can answer your questions and provide recommendations or guidance on best practices, solutions and more. For example, if you’re struggling to determine whether Expensify is right for you, a professional accountant can help you make the right decision.
Hire a Pro to Help with Your Accounting Software Setup
If you’re in the process of purchasing or integrating accounting software into your operations, consider hiring a pro to help with the installation.
At Redmond, we can help with your accounting software setup, but we can also help:
- Determine your technology needs
- Provide ongoing support
- Diagnose and resolve problems
Accounting technology is designed to make your life easier. We’re here to help make sure that happens.If you need help with your accounting software setup or want to learn how we can help you with your accounting needs, schedule a consultation now!
