6 Signs Your Accounting System May Need an Overhaul with the Transition to Remote Work
Many businesses are reexamining their accounting back office solutions as a result of the widespread coronavirus mandated shift to remote work.
Unfortunately for many small businesses their current accounting system and processes simply do not function effectively with a limited physical office presence. The good news is affordable solutions exist to solve for many small business accounting pain points.
Here are 6 signs that you may be able to do better with your accounting system and processes, especially within the context of remote work.
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Paper checks
– you pay vendors, independent contractors, and yourself with a paper check
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Paper invoices
– you send customers paper invoices and many of those customer’s businesses are closed
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Paper everything
– you use paper for everything because that’s the way it has always been done. If it’s not broken don’t fix it, right? Remote work has highlighted these weaknesses.
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Data entry errors
– you have experienced data entry errors when manually typing information and caused hours of pain searching for the error
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In person approvals/signatures
– your payment approval control is when you sit down at your desk on Fridays and sign the paper checks
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Multiple discrete systems
– you have more than one system and they rarely report the exact same information
What do you think? Do ANY of these sound familiar? Have you hoped for a solution but not given it your focus?
Best practices combined with an experienced accounting system designer can quickly shift your business into the modern world. When you decide to modernize your accounting back office your team will thank you. They will be elated as they shed error prone data-entry busy work. They will become more valuable to your organization as they move up the value curve to financial planning and trend analysis. Your customers will be thankful for electronic invoices and electronic payment methods. Vendors will thank you for electronic payments directly deposited into their bank accounts. And you will be freed from the office permanently. You will have confidence in the systems and controls and you will put yourself in place that allow you to work from anywhere.
At Proseer we design, implement, and operate modern accounting systems for entrepreneurs and family offices. Contact us today to find out how we can help you and to receive a personalized proposal.
