Use accounting software to improve your bottom line
Accounting software is more than just a tool to keep track of your finances. It plays an important role in helping make your company a success. Because cashflow is the lifeblood of any business, it’s important to be in total control of it at all times. If you neglect it, you could end up spending money that you don’t have and making less profit at the end of the day.
However, accounting programs do more than simply prevent you from making a loss, they can also give you the information you need to actively increase your profits. QuickBooks is a software tool that, when harnessed correctly, can help you improve your bottom line significantly. Continue reading to see how.
Ways an accounting system can help increase your profits
- Implement cost accounting – Very simply, profit can be defined as your total income, less your total expenses. It stands to reason that by knowing how much it costs to manufacture, buy or facilitate your products and services, you can improve your profit margin by reducing these costs, increasing the selling price of your offering or implementing a combination of the two.
- Manage your customer accounts – Many businesses offer their products and services on credit. While this may increase your customer base, it also postpones receipt of payments. Accounting software can help you to keep track of your customer accounts and ensure that everyone pays on time.
- Prevent under stocking – An accounting system can also help you monitor your product levels and ensure that you don’t under stock. Purchasing or manufacturing products is part of many businesses and selling them is often what brings in the money. But if you have fewer products than you can sell within a specific period of time, you won’t make as much money as you could.
QuickBooks is designed to make running your business easier
QuickBooks is accounting made easy. Moreover, with more than 45 000 customers in South Africa, it’s one of the most popular business tools in the country. We offer 3 software packages for small, medium and growing businesses: QuickBooks SimpleStart, QuickBooks Pro and QuickBooks Premier.
Contact us today on 0861 726 657 to find accounting software that can help you improve your bottom line.