6 Signs MYOB & QuickBooks hinder your business growth
Posted by
Peter W on Tue, Jan 10, 2012 @ 05:02 PM
As we highlighted in previous posts the cost of doing nothing when it comes to upgrading your business software can be frighteningly high. At the very least, it results in redundant duplications and workarounds, and at the very worst, loss of staff. If these six points sound familiar to you, it could be a good time to review your accounting software.
- You rely on a number of spreadsheets because you can't rely on your business software to generate the reports you need. Do you find yourself entering data into multiple spreadsheets? It might be a manageable short-term workaround, but it increases the chance of mistakes, and wastes resources.
- You often enter the same information more than once. So, first you create the quote. Then once you win the deal, you rekey the content in the accounting package as an order. Then there's deliveries and invoicing to think about. Do you know how much time you're wasting keying the same data over and over?
- Your systems simply don't share information well. Does your payroll software talk to your general ledger? Does your manufacturing software know where your inventory is coming from?
- You don't know what inventory you have, where it is and what it's worth. Are you reliant on guesswork? Can you easily find your inventory and be confident of its accuracy?
- Your reporting is slow or cumbersome. It takes an eternity to piece together everyday reports. The information is there but you can't get to it quickly and easily.
- You wish you could track job costs more accurately. Do you know where and when you lost money on jobs?
For more information on these six points, download our complimentary article.