If you’re looking to start a business, the financial workings of it should be the first consideration. Specifically, you should look for an accounting software reliable enough to meet your needs and provide accurate data that won’t get you into trouble with the IRS. Programs like Sage Peachtree Quantum, now known as Sage 50, could help your business in so many ways:
Formalized Financial Statements
Financial statements like balance sheets and loss statements are necessary for tracking the progress of your business’ finances, be it for evaluation purposes or to show to prospective investors. The best accounting software provides you with templates and documents that you only need to fill out.
By using computerized systems, you are also increasing the accuracy of your financial statements, thus keeping the tax auditors away. You can also have your chosen software link to your bank accounts to reflect your financial activities more accurately. What’s more, the program could alert you through email should discrepancies be found.
An article by Sheila Shanker, talks about how using software can help speed up the invoicing process and, in turn, facilitate more efficient cash flow:
Computerized packages for invoicing make the accounting process run faster and more efficiently–a major advantage. Instead of using the old-fashioned manual paper and pen, you can print professional-looking invoices fast. You even can send out invoices via e-mail. The faster invoices get out, the faster you are likely to get paid. Many invoicing or billing software packages interface with the rest of your accounting software, making the process of preparing invoices and recording them seamless, fast and automatic.
Yet another advantage of using a business accounting program is the convenient access to your business’ financial history through a database. This ease of access allows for a quick comparison of past and current numbers to gain a clearer view of how your revenue generation system is functioning. In this way, you can make projections as well as recognize any necessary changes to ensure that your cash flow is always moving in the positive direction.
If you want to get a head-start on your business accounting needs for the next fiscal year, look into reliable programs like the Peachtree Quantum 2015 which can be purchased from suppliers like Quantum Buyers.
(Source: The Advantages of Using an Accounting Software Package for Invoices, Chron.com)