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If you’re a small business owner, you know just how important accounting is to the success of your company. Not only is it how you keep track of expenses and bills, but it’s also how you receive money from clients and pay vendors. While you’re probably confident when it comes to most of the day-to-day accounting for your business, there still may be some issues that you get hung up on that could have been easily avoided. The most common of these issues is technology not working as it should. Much of today’s accounting relies on technological solutions; if the tech isn’t working, all of your work can grind to an abrupt halt.
Unfortunately, it’s not just a matter of the power going out or needing to Google how to complete a task. Because of the increasing complexity of modern accounting programs, businesses struggle with not having enough technology to having way too much of it. Too little, and work that could be automated instead eats up hours of labor. Too many different programs, and it becomes almost impossible to use them all together. Not to mention if data sources aren’t centralized among the different systems, it becomes cumbersome moving data between the various programs you use.
A good technology stack is like a symphony. One where your accounting work is the theme that passes from instrument to instrument without a break in the music. The question is: Does your small business manage software more like a middle school band or a professional orchestra?
Among the many programs your small business might use for accounting and other business processes, a few have become gold standards in the field. These are software solutions that have been tested by countless users and companies, and which integrate well with other programs. Here are a few of the most popular technology solutions among successful businesses.
For many businesses, Zapier is the link between all their other apps. It’s an online platform that allows you to automate workflows across programs. For instance, it takes appointments from your scheduling program and inserts them into your calendar app — all by itself.
It saves both accountants and CEOs a lot of time because now, no human being has to take this data from one program and manually input it into another. It also removes any opportunity for error in manual work. And, instead of team members waiting for a coworker to let them know it’s time to work on something, Zapier can pass the work on to the next person immediately.
While many users are more familiar with QuickBooks’ desktop editions, QuickBooks Online comes with a few advantages. Since it’s online, the program is always available, even if you’re not at your desk. That makes it handy for remote work.
QuickBooks Online also supports multiple integrations and includes features for helping a business manage things in one place. With a built-in CRM (customer relationship management) module, you’ll be able to keep track of communications and business development initiatives related to your clients. It also manages payroll, reporting, paying vendors, and more. This is one of those programs that can end up replacing several less-integrated systems, simplifying the software employees need to learn.
Melio is a payment system that allows you to pay vendors and get paid with account transfers or card, seamlessly and with a minimum of fees. Since it integrates with QuickBooks Online and other software, you can easily keep track of when you need to send a payment. It also allows you to set payment permissions for different individuals within your company so that everyone who needs to can pay bills without having to hand out the company credit card to everyone.
Lastly, businesses need a way to access many different accounts reliably and securely. Either locking yourself out of your account or letting intruders in could be a disastrous situation. Secure password managers keep all your passwords and vital information in a place that’s accessible to you — and well away from hackers. They give you the ability to autofill your data wherever you need, saving valuable time since you won’t be guessing and resetting passwords for hours.
Since businesses handle so much private information, it’s vital that everything is kept secure. A sticky note on the bottom of your keyboard is just not good enough for sensitive data! A good password manager also automatically revokes permissions and retires passwords when someone leaves the company. LastPass and Keeper Security are two well-known password managers which contain all the functionality your business needs to thrive.
As a small business owner, you’re an expert in what you do. But that doesn’t mean you have nothing to learn about technology that can take your business to the next level. If your software is more of a headache than a help, or if you’re unsure whether a new program is worth the investment, it’s time to seek out expert advice.
One great way to get advice on the best accounting technology for your small business is to consult with your CPA. Additionally, you can consult with an IT service provider with experience and a track record in helping businesses like yours implement the right technology solutions. Your IT provider shouldn’t just be keeping the WiFi working. They also will have valuable advice about the best software for your company, so don’t waste the resource of their experience.
If you’re looking for a good IT service provider in Northern Virginia, Queen Consulting has a proven track record of helping businesses of all kinds find the right software for their needs.
If we can be of assistance with your Accounting & Workflow Management, please reach out using the GET A FREE CONSULT button below.
