Delegate, Focus, and GROW Your Business

Tips to Make Your Accounting Process More Efficient and Streamlined

What is the most frustrating part about owning your own business? For many, it’s the drudgery that comes along with accounting duties. According to a survey conducted by SCORE, 40 percent of the small business owners that were questioned said that taxes and bookkeeping were the most frustrating aspect of owning their own business. Furthermore, 47 percent of the respondents said that they disliked the financial cost and 13 percent said that they dislike the administrative headaches and their time wasted that often comes with accounting duties. Although accounting may never be your favorite task, you can make your small business more efficient and streamlined with these tools and tips.

Delegate

Owing a small business often means you’re a one-man show. From marketing to selling in your brick-and-mortar shop to keeping the books and hiring, you feel like you’ve got to do it all. However, that’s not entirely true. While it’s important to be invested in all aspects of your business, it’s simply impossible to do them all on your own without help from others. And often times, doing everything by yourself can lead to mistakes, which can cost your business precious time and even money. Consider hiring one of our VAs to delegate the accounting tasks of your business to. While you may be skeptical of hiring someone exclusively for accounting due to the cost, you’re likely doing yourself a favor. Accounting pros are cost efficient, as they typically end up saving you money in the end. Our VAs are experienced and able to free up your time that would normally be spent balancing the books so that you can get back to doing what matters most, like taking care of the customers in your shop or working on a new product.

An Option to Switch Things Up

There are many tools available today that can make running a small business more efficient and streamlined, such as the accounting software available from Sage. Unlike archaic accounting tools and books, Sage is modern and simple to use. For example, Sage 50c Pro Accounting allows management of consumer contacts and sales, customization of your inventory, tracks jobs, manages vendors and projects, and it even has the ability to automate shipping and purchasing. The software is tailored toward small businesses just like yours, offering simple, cost-effective solutions that can help your company continue to grow — without all of the headaches that typically come along with accounting and bookkeeping. And once you’ve got growth, you can scale your needs with Sage, too.

Bolster Up Your Knowledge

Whether you’re a college grad or striking out on your own with your small business, anyone can benefit from an online accounting course. Even if you don’t consider yourself a finance person, you can learn finance if you prefer to handle accounting yourself. Online courses from Coursera can help you learn more about finance and accounting concepts and how to drive business growth. The interactive classes cover planning, forecasting, financial analysis and cash flow management, as well as strategic financing, just to name a few. By taking and completing an online course, you’re making your business more efficient, as you’ll have the skills to execute your accounting responsibilities quickly, which gives you more time to focus within other areas of your small business.

There are a variety of ways that small business owners can make accounting more streamlined. From taking an accounting or finance course online to using cloud-based accounting software on a daily basis. The opportunities are out there, and these suggestions just scratch the surface. How will you make your bookkeeping more efficient?

photo credit: 401(K) 2013

Posted on June 17th, 2016 by Rachel Braam, Office Manager

1 Comment »

Ebrahim Turkey says:

Accounting softwares available in the market does make the accounting process easier and time saving. Useful blog.

Posted: September 16, 2019 @ 10:05 am


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