Saving Time with the Administration in Small Business

I often get asked by small business owners how they can save time with the administration of their businesses. The daily routines required by an accounting system can be challenging when considering the many hats that a small business owner must wear. Driven by time constraints owners are swayed by claims that computerization of their accounting system will be a benefit. Technology has made this an even easier decision when considering the cost of the hardware and software required to get started. But that is where the rubber hits the road – how are you going to gain the necessary knowledge to ensure accurate, consistent and complete records are maintained. In fact, if these goals are not met then you may end up creating a bigger problem for your accountant. Let’s start with some basic advice.

1. Simpler is better – remember there will be a learning curve to this exercise.
2. Regular use – if you don’t use software on a consistent basis then it likely you will spend time trying to remember how to use it.
3. Get the biggest return on your time - get solutions that address specific needs with the accounting functions that take the largest amount of time to accomplish. This may be the sales activity of your business.
4. Who is going to help me – your accountant is definitely a resource but you also need to consider where technical advice regarding computerization is going to come from!

As you can see this business decision is not quite as easy as buying a software package off a shelf and expecting it to work with the push of a button. Too often I see owners ending up with solutions that are beyond the requirements of their business. Where the tools provided by a software package become too complicated or require more accounting knowledge, the danger lights begin to flash and success becomes a distant goal. Following the rules above will promote an accounting system that will give you peace of mind and free up that time you are looking for. This is the goal of every office in the Padgett system. Contact us and we will answer your questions.