By Stephanie Elsen
If you are looking for accounting software and you came across our site, you might be wondering where CenterPoint Accounting Software and Red Wing Software fit into the scheme of accounting software programs.
There are so many accounting software companies out there; it can be hard to tell the difference between them all. To give you a good idea of who we are, consider these statistics about the people who are benefiting from our software.
- 37% have outgrown their basic accounting software. People who started with a basic or “shelf” accounting software find that their business has outgrown the basic software’s capabilities. Perhaps they are entering too many transactions or inventory items, or the system is getting bogged down by too much stored history. This group also includes those who are using old, outdated systems for which they are losing support or the software cannot operate on newer computers they are purchasing. CenterPoint Accounting Software is a mid-market program and works very well as an option for those outgrowing their basic accounting software!
- About 26% need better financial reports or specific software features to handle their company’s needs.People who desire better financial reporting account for a large percentage of new customers! Tracking information by department or profit center, drilling down to source entries, and a tight audit trail are all important considerations for a growing business. CenterPoint Accounting Software performs these functions very well. Many specific software features are also handled in CenterPoint. Managing multiple companies & consolidated reporting, managing multiple units of measure, and the ability to create custom reports are just a few of the features that can be handled within CenterPoint.
- 20% are new businesses.Not everybody wants to start out with a basic shelf accounting software program. Those who understand the importance of good financial management and those with more complex needs at the start of their business turn to CenterPoint Accounting Software.
- 17% are cutting costs or bringing the accounting back in-house. People who find themselves paying for and using a system that is way more functionality than they need often find that CenterPoint can handle what they need, and for significantly less money. People who are also trying to cut costs and gain control by bringing their accounting back in-house also find CenterPoint to be a great option.
Red Wing Software and CenterPoint Accounting Software have helped thousands of accounting software users manage their financial information. Contact us today to see how we can help you by calling 800-732-9464 or e-mailing firstname.lastname@example.org.
By Stephanie Elsen
If you are currently searching for accounting software, it may help to know what kind of buyer you are, so you can get the best results from your search. Web site www.FindAccountingSoftware.com has developed a free tool you can use to prioritize what is important, and use that information to get the best search results. Follow this link to give it a try!
Quiz: What Kind of Accounting Software Buyer Are You?
So you’ve done your homework and narrowed down your accounting software search to just a few systems. Now it’s time to test out each system and see which one works best for you. There are several ways to test out your new system. Being aware of what is available will help you choose the right method for you and your business.
View product videos
Watching a video about your potential software is a good way to get to know the system and in general, what it has to offer, including some of its features and the user interface. The downside of product videos is that you can’t search for the features you are seeking, or see how the product works. It is a great way to get a general feel for the system, which can be extremely helpful at the start of your software search.
Attend a live demonstration
Some software companies offer potential users the opportunity to join a demonstration of their software, whether it’s via the internet or in person. This can be a beneficial use of your time, since you can watch an expert navigate through the system, with the ability to ask questions along the way. After all, who is better at showing you the system than a system expert? Attending a demonstration is a must-do for the purchase of any software system!
Fully functioning trial software version
Some software vendors offer a trial version of their software for you to try out. Some software trials are fully functioning versions of the software, and others are more limited. The advantage to using a software trial version is that you can really get a feel for how the system works. However, without some training or at least familiarity with a software system, it’s nearly impossible to get a true picture of how the software really works.
In a perfect world, you would have the option to use all three of the above to make your decision. First, view a product video at the start of your software search, in order to gain familiarity with the system. After that, attend a live demonstration to get an idea if that system (how it works and its feature set) is an appropriate option for you and your business. Using these two options together can be enough to make your decision, but if you still have questions after that, installing the trial software version can really help. Just be sure that when you are in the trial version working, there is somebody at the software vendor company who is willing to help you along the way and answer any questions that may arise during your testing.
Every business seems to have some recurring transactions. Recurring payments are those you have to pay more than once, and often on a regular basis, such as monthly bills, insurance payments, rent and more. You can use the recurring payments function in Accounts Payable to streamline the process of paying monthly expenses.
Individual Recurring Transaction
Creating an individual recurring transaction involves setting up and saving the basic information on the invoice, so it can be retrieved and processed each time you need to pay that invoice/vendor. Typically you would enter a description that is familiar, so you can find the correct transaction each time you need to use it. Once you have entered all the necessary information for the individual recurring invoice, that invoice will be saved in a list of recurring transactions. When it comes time to processes the invoice, simply select it from the list, open and edit the dollar amount (if necessary), and save the transaction.
Groups of Recurring Transactions
For even more efficiency, set up your recurring transactions within a group (or batch)! For your monthly recurring transactions, set them up in a monthly recurring group, for your quarterly transactions a quarterly group, and so on. First, create the name of your transaction batch, for instance “Monthly Recurring Bills.” Set up individual transactions and assign each of them to their group. By assigning the transactions to a group, the entire group of transactions can be created easily when needed. When it comes time to run a group of invoices, you go in and change any information if needed, run those invoices, and print them along with a check.
Setting up and using recurring transactions can save you significant time!
Project tracking within your accounting software program is a great way to understand the cost of a project. It is fairly easy to set up and manage. Once set up, you track projects by attributing income and expenses to projects each time you enter them. Project tracking is not to be confused with ‘job costing’, which is a more complex function that includes the tracking of a job’s progress, timing, and other information; whereas project tracking deals mainly with the income and expense for a project. Here are the basics of project tracking, so you can decide if it’s the right thing for you to do for your business.
Setting up projects
If your accounting software includes the ability to track projects, you should be able to go into your setup options to create a new project and give it a name and/or an abbreviation. Make sure the name is easily recognizable, so it’s easy to identify during data entry. Keep in mind that you may actually have more than one project within a bigger project, so the name you give each project should reflect that. Otherwise, finding the right project can be confusing during data entry.
Assigning a project during transaction entry
Typically, once this is set up, a field within the transaction entry screen(s) will show you the projects you have available to choose from. Be sure to choose the correct project for that income or expense. If you forget to choose a project to associate with that transaction, most systems will let you edit the invoice afterward.
Getting reports by project
Most accounting systems will allow you to filter a variety of reports by project. Whether you are looking for a sales report, financial or general ledger report, use a filter within your report generation tool to include only the information that relates to your project. By filtering the reports this way, you won’t need to sort through loads of other information to get the information you are looking for.
When you are finished tracking a project and have all the information you need, many systems will allow you to mark that project inactive, keeping your list of projects to choose from accurate and easy to work with.
Once you set up and use project tracking, you might just be surprised how easy it is to keep track of even the smallest of projects. Keep in mind, that many systems also allow you to assign projects to your labor costs for a more accurate picture of complete project costs. Check your system today and give project tracking a try!