Managing a business is an intricate process that demands the utmost care and diligence. Effective business management and systematic recording are some of the cornerstones of a successful venture, as anyone familiar with modern business practices, such as California accountant and financial instructor Raffaele Mari, can attest to:
“Adopt a system for keeping your financial activities straight, whether it’s a notebook you use consistently, an Excel spreadsheet or software such as Quickbooks. Business owners typically make a variety of deposits into their bank account through the year, including loans, revenue from sales and cash infusions from their personal savings. The trouble, Mari says, is that at the end of the year, you or your bookkeeper might erroneously record some deposits as income, and consequently pay taxes on more money than you’ve actually made.”
The very nature of bookkeeping makes it an inherently resource-intensive aspect of business management. This does not preclude the success of small and medium-scale organizations, they can opt for affordable and user-friendly software, such as the Sage Quantum system and other related products. These solutions are designed to help a diverse variety of organizations and companies efficiently manage their records and finances, all without resorting to needlessly expensive software bundles.
These systems assist businesses in handling and organizing issues such as payroll processing, financial management, audit trails, inventory and archiving, personnel records, and client relations, just to name a few. Business management suites also allow owners to track and file their expenses over time, to help them plan for tax payments and other future expenditures.
These systems, which are readily available in the market for reasonable initial costs, usually come with analytics and reporting capabilities, role-based security, and accessible controls. These features allow organizations to monitor the movement of invoices and internal documents, as well as implement more complex processes and work flows.
The more versatile and well-designed systems possess a degree of scalability. Meaning they can be configured to support more than one business or location at the same time. Modular systems can even be used in groups with hundreds of members, since their design allows them to be adapted to support a number of users essentially limited only by the organization’s available hardware.
In this age of increasing overhead expenses brought about by soaring commodity and energy rates, organizations need to maximize their investment in software costs. Small and medium-scale businesses can approach local software retailers or premier Sage Peachtree Quantum resellers such as Quantum Buyers LLC to see how these systems can help them achieve their goals and outperform their competition.
(Source: Five Bookkeeping Tips for Business Owners, Entrepreneur, April 20, 2011)