As you are busy managing your business, it isn’t likely that you are mulling over which things you can add on to your software to make your life easier. And yet, you might be shocked to know how much the jobs of multiple people could be streamlined by simply adding a new accounting software function to your system.
The purpose of an order entry system is to track and manage orders in your system, before sending them over to accounts receivable for billing. Adding order entry functionality to an inventory management software system can be beneficial to any small business. If you are experiencing any of the following problems, you might just find that order entry can solve them for your business.
“I cannot track backorders.”
“I have no way of printing pick tickets and packing slips.”
“I want to allocate products to a customer’s order, but don’t want to ship it yet.”
“I want to know how many items are in stock while I am taking the customer’s order.”
“One person writes down our customers’ orders, and another enters the order when the order has been filled.”
Check into adding order entry to your accounting software if you find the above situations are true for your business.
Let’s face it, you can find accounting software fairly easily these days, whether you purchase it from a local accounting software professional, research and purchase on the Web, or simply walk into a chain store and purchase it off the shelf. And while accounting software may be easy to find and purchase, what really matters most in your decision are two things. 1. Are you able to enter your data into the program easily and in a way that is meaningful? 2. Are you able to pull out the information you have entered in such a way that it allows you to make good management decisions for your business? Here is why.
- Are you able to enter your data into the program easily and in a way that is meaningful? A business typically has transactions to be entered on a daily basis. The system you use should allow you to enter these transactions easily and intuitively. Be sure that you are able to easily find the correct account code for entering the transaction, so the data will be accumulated into the correct ‘income or expense bucket’. If your business accounting software system is not intuitive or is just plain difficult, you will find mistakes being made, and this will make the analysis of the data extremely difficult, if not impossible. If mistakes are made, be sure there is a way to easily fix them with an audit trail to track those changes. Without an easy to use entry system, the entry of your data will be a difficult and frustrating effort.
- Are you able to pull out the information you have entered in such a way that allows you to make good decisions about your business? The number one reason for having an accounting software program is for viewing information that allows you to make important management decisions. Do we need to cut the marketing budget in order to stay profitable? Why did we spend three times more than budgeted in sales last month, and how will this affect us? These are just a few of the questions that can be asked if the data is analyzed. Without the ability to review the data and ask such questions, you are left to make decisions that are not based on good, accurate financial data. By using your accounting software and data in the correct way, you are ensured of making better, more informed decisions, thereby improving your business’s profitability in the short term and for years to come.
Surely you are busy managing your business, and as you are chugging along, a nagging voice keeps saying, “Why don’t you have a Web site yet? You should get one. Everybody says you need one…”
I know, I know, creating a Web site can be a daunting task! But, there are some real benefits, even for the smallest businesses. Here are some reasons you DO need a Web site for your business.
- People can find your business. Where are people going to find your business? Sure, they may look in the yellow pages or ask a friend, but let’s face it. These days people can quickly do internet searches, even from their phone when they are out driving! If your business doesn’t show up when they are searching, you just lost business. Having a Web site can help those people find you.
- People can learn about the products and services you offer. A Web site is an excellent place to show people what your company does. Sure, you already have your company catalog but people cannot search through it at their leisure while sitting at home, drinking a cup of coffee (unless they happen to have a copy of it at their home). By listing all of your products and services on your site, customers and prospects both can learn about things they didn’t know you offered. And, this means increased sales for you.
- People may perceive your business as old-fashioned without a Web site. I know business owners who say, “A Web site does no good for me. I get all my business from word-of-mouth advertising.” While this may be completely true, that same person doesn’t even know the business they are missing out on because they have never had a Web site. If people go searching for you on the internet by your business name and no results come up, it can leave them wondering if your business is old-fashioned or unprofessional, or even out of business. Even a simple Web site that is informative can make a big difference!
Thousands of Red Wing Software customers understand the benefits of using agriculture-specific software to manage their farm, rather than using a more basic program. Here are some compelling reasons to think seriously about implementing agriculture-specific farm accounting software instead of a more general program. Keep in mind that agriculture-specific accounting software will include the basics you need such as writing checks, entering payables and receivables, and managing your general ledger. Below are the additional tools Red Wing Software’s CenterPoint Accounting for Agriculture offers to help your farm see its true potential!
Multiple Quantity Inventory Tracking:
While basic programs often don’t allow for any inventory tracking, CenterPoint for Agriculture allows for inventory tracking in multiple quantities, so you can keep better track of your items no matter how you buy or sell them.
Multiple Tax Entities:
Allows you to track multiple tax entities in one database for keeping financial data separate, yet still perform combined business analysis when necessary.
Book, Market, and Tax Asset Value Tracking:
Know the true value of your assets for whatever purpose you choose.
Transaction Distribution to Multiple Accounts:
Easily distribute complex transactions across multiple accounts and production units, for an accurate financial picture.
Information Tracking for Farms, Fields, Landlords, etc.:
Always have access to information at your fingertips about your farm, land, etc. for yourself and your managers, landlords, bankers, and more.
Calculates ratios for your farming operation and shows trends, so you can address issues and become more profitable.
Provides detailed crop and livestock information on a cost per unit basis.
Owners and managers can get in-depth financial analysis with unlimited ability to structure and segment entire operations, profit centers, accounts, and inventories to track data, combine entities, and receive the most relevant farm reporting available today.
Budget and Forecasting:
Gain the ability to create “what if” scenarios for your farm, and you’ll be able to project future sales, cash flow, income statements, and assets and liabilities. You’ll then be able to more accurately plan for future business strategies!
Are you considering moving from paper checks to direct deposit? Many payroll software applications offer direct deposit. The Direct Deposit Option lets you deposit your payroll to employees' personal bank accounts without printing paychecks. There are distinct benefits for your company, your employees, and the environment by moving to direct deposit. Here are five reasons to make the switch!
Help the environment.
What is a printed check if not an expendable piece of paper which costs your organization money, yet lasts only until it makes its way to the bank? By implementing direct deposit, money is transferred electronically, eliminating the need for printed checks. This helps the environment by reducing paper checks, envelopes, and printer ink and wear. According to electronicpayments.org, checks add 3.6 million tons of CO2 to the environment as they travel through the payment cycle!
Save time and money.
Think of the process of printing paychecks. Gather the pay data. Be sure to keep enough checks on-hand. Get the printer ready. Line up the paper. Print and collate the checks. Hand them out or mail them. Keep the ones for the employees not present and remember to hand them out when they are present. Just think of all the steps you can eliminate by sending pay electronically! This saves your company valuable time and money. According to NACHA, small companies can save up to $3.15 per payment per employee by using direct deposit.
No more lost checks.
Nobody is perfect, and that includes employees. With printed checks, there is always the opportunity for lost checks. An employee puts a check in their pocket and forgets about it. Direct deposit eliminates that possibility, saving employers the cost of reprinting checks, and helping employees keep their pay without incident.
Employees love it!
Employees get their money faster. With direct deposit, money shows up in employee accounts seamlessly, as opposed to a paper check which takes time to deposit. People are often busy and don’t deposit their checks right away. No more having to come in on days off to pick up a check. With direct deposit, employees don’t have to worry about getting to the bank on time. Their money is already in their account waiting for them!
Direct Deposit can help protect you from losses incurred by fraud because of counterfeit, forged or altered checks. This subject is important now more than ever, and direct deposit is a simple way to improve security.
Adding direct deposit is a win for your company, your employees, and the environment. Implement direct deposit today and give yourself a pat on the back for a job well done!
Find more information about the benefits and cost savings of direct deposit, visit this page:
CenterPoint Payroll Software offers direct deposit. Learn more by clicking here.