Posts covering best practices, trends, and insights.
Built for construction
If staying on top of reporting and financial performance for your nonprofit takes too much time and has become overly burdensome, it’s not you — it’s your software. It might be time to find a nonprofit accounting software system that is able to grow with your organization and help solve challenges, instead of creating them.
This year’s construction season is quickly winding down – cold and snow are settling in, as are thoughts of tropical vacations and relaxation.
As your business grows, it will outgrow its software – your new needs will no longer be met with small business accounting software – and it will be time for an enterprise resource planning (ERP) system. An ERP system is integrated business management software that manages data across multiple business activities, including accounting, project/service management, inventory control, human resource management, timekeeping, customer relation management, ad-hoc/dashboard reporting and much more.
While QuickBooks software by Intuit is a necessity for many startup companies that can't afford an expensive accountant, there comes a time when something that handles more complex tasks is necessary. A business that outgrows QuickBooks and doesn't update its software will find itself losing ground to the competition until it shifts gears and gets a more robust platform.
Your company may be in danger of slowing itself down by staying with the software, but how do you know you have outgrown QuickBooks?
You've grown your business to its current state with basic software, and that's great – but as you continue to grow in both size and complexity, you'll need to find an accounting product that can "stretch" to provide for your new needs. With so many products on the market, it might seem overwhelming, but we have a few recommendations to help you find the best accounting software for you.
Editor's Note: This post was originally published in September 2014 and has been updated for freshness, accuracy, and comprehensiveness.
Poor money management can spell the end for any business. Good money management includes saving records, managing payroll, protecting your information, and budgeting for your expenses as well as a “rainy day.” The best way to practice good money management is with a good software accounting system. Accounting software is a safe, reliable way to manage your business's finances and achieve financial stability.