Getting the most from your accounting software

26 May 2023

Bradley Medhurst

Digital & Tech, Ambitious Startups, Cloud Accounting, Accounting & Compliance

Cloud based accounting systems have become an essential tool for businesses in managing their financial operations effectively.

How does your accounting software currently perform for you?

Some businesses adopted a cloud-based software early on when the options available were limited. They got stuck in and built it into the day to day running of their business and have had the same software and system in place for many years.
Some businesses implement a software at the start of their journey but as the business grows and develops it seems to outgrow the capabilities of the software and systems in place making reporting difficult due to a lack of information.
Others may choose a software just because they need one and don’t really understand what it can do to enhance their business performance.

There have been huge technological advancements in the accounting software market and this is showing no sign of slowing down.

How did you choose your current accounting software?

This question sometimes has some interesting answers!

We find these are the most common:

Google Search
Well-known brand of software
Recommendation from a Friend
Member of team/personally experienced using the software
Introductory subscription offer
Free with a bank account

Does this work for your business?

Most solutions will work to some extent, but it’s not uncommon to find limitations or feel frustrated that you can’t make the software work in a way that works for you.

Without the knowledge how to fully embed a system into your business and take advantage of all the capabilities, most will make do and get on with it. This often involves a manual work around, which can go on for months or even years until there is an extremely overcomplicated and inefficient process in place – a real business pain point!

Manual processes often lead to increased costs, taking up more time and resource to complete and you probably find that it still isn’t performing in a way that is beneficial to you.

You may begrudge any subscription fee that you pay for software that doesn’t work the way you want it too, or even your bookkeeper or accountant for charging you more to sort out your disorganized figures!

What efficient accounting software can do for your business

Used correctly, cloud accounting software can offer both convenience and flexibility unlocking a range of cost saving benefits by streamlining your financial operations and freeing up your time.

Implementing any kind of automation or cloud-based system can save huge amounts of time whilst reducing the risk of errors, effortlessly improving the accuracy of your financial data.

Business owners can have more control and visibility of their business than ever.

How do I get the most from my accounting software?

We encourage our clients to question everything!

If you can identify an area that you feel is a particular pain point for you such as a repetitive or manual task it’s likely that there is a solution available.

Keeping up to date with advancements in technology and what it can do to enhance your business isn’t at the top of everyone’s list of priorities, which is why our business software solutions team are available to assist you with identifying and unlocking the capabilities of the systems available.

Our Services

Our Business Software Solutions team offer two services:

Everyday accounting solutions – for the quick wins

Many software options have additional capabilities or add on services that can be integrated into your current software seamlessly. If you can pinpoint an area or task that takes up time and resource, our team will work with you to understand your problem and provide recommendations of how to solve this.

We can also assist you with implementing the solution and provide training and ongoing support.

Process & productivity review – the deep dive

For more complex systems we take a more meticulous approach.

A member of our Business Software Solutions team will spend a day in your businesses, working with you to fully understand your current processes, how they work and what they do for you. We scrutinize every detail to understand what you really need from your systems and what can be implemented to support your long-term goals.

We then produce a full report which we present to you in a debrief meeting. The report contains our findings and expert recommendations for solutions that align with your business goals, to streamline your financial processes and enhance productivity.

Again, we can offer our services to assist you to implement the solution, provide training and ongoing support to you and your team.

Get in touch with us

If you would like to speak to us about how you can get the most from your cloud accounting systems, then you can email the head of our Business Software Solutions and cloud accounting team Bradley Medhurst or give us a call on 01634 731930 to discuss your needs and what we can do to assist you.