When it comes to finances, lack of management can put your business into the red in record time. Without accounting software, managing finances is as enjoyable as climbing an erupting volcano.
Accounting software can save your sanity, and your bottom-line. It simplifies complex tasks like tracking expenses, creating reports, and making invoices. For those who aren’t number-savvy, it's a life-saver for a frustrating aspect of owning a business.
Still not convinced? Here’s 5 reasons you should use accounting software.
It’s Better than Spreadsheets
Spreadsheets are great for many things. Keeping an eye on the finances in your business? Not so much. Spreadsheets spiral out-of-control, and keeping track of countless sheets is a headache. Plus, when you need reports it’s labour-intensive to extract them from a spreadsheet.
Not so with accounting software. Financial experts pool their genius to create software that tracks your money. With a spreadsheet, you do all the grunt work of creating a process and working out the formulas. That work is all done for you with accounting software.
It Gives You Control Over Your Money
If you can’t account for every dollar that goes in and out of your business, it’s easy to lose great amounts of cash. Hone in on your businesses dollars and cents with accounting software. From who owes money, to where your margins are, it's all at your fingertips.
Why try to keep tabs on that with spreadsheets, notepads, and endless pots of coffee?
It Can Save You at Tax-Time
Taxes loom like a spectre of death over businesses who don’t use accounting software. If you use spreadsheets or (gasp) pen-and-paper, tax-time is a colossal burden. But not with accounting software! Everything financial sits in one place. That means it’s easy to produce the reports, files, and numbers you need for a relaxing tax-season.
Take payroll for instance. Taxes and payroll can be a labyrinth, as Xero talks about here. Use quality accounting software, and you can avoid getting the nightmare of an audit.
It Can Integrate with Other Software
Software you’re using in your business may integrate with popular accounting software. At Rotessa we’ve built integrations with QuickBooks Online and Xero. Our customers can import invoices into our app to schedule payments.
When you’re researching accounting software, check if they integrate with your software. If they do, you’ll be able to save even more time!
It Gives You Time for the Important Stuff
One of the best reasons to use accounting software is this: it gives you time to do better things than your books.
Wasting precious hours with spreadsheets is a terrible way to spend your time. Once you’ve implemented accounting software, you’ll spend less time tracking finances. That means you’ll have more time to do the fun parts of your business, or even enjoy some time off! And as they say, time is money.
When it comes to your business, there’s no reason to struggle with spreadsheets and paper. Finding an accounting software solution will save you time and money in the long run. Now that’s a good deal!