Most businesses begin life with basic accounting software that fits their budget and fulfils the bulk of their requirements. As a business matures the processes become more complex, the requirements of the accounting software increase and it becomes a matter of time before a decision needs to be made on choosing a more advanced accounting solution. However, there can be several challenges that will get in the way of determining when is the best time to make the switch. When you are so deep in your daily operations, it can be very easy to ignore all the red flags that trouble is nearby.
There are several signs that can indicate the current accounting software you are using is actually hurting your business instead of helping your business. Below are some red flags you should watch for if you want to determine if your accounting software is damaging your business.
Red Flags to Watch For to Determine if Your Accounting Software is Damaging Your Business
- Your system performs slowly and is constantly unstable
- Your inventory levels are not always accurate
- Your customers are making orders for products that are no longer in stock
- You have difficulties tracking time
- You are constantly running into delays as far as production
- Your employees are creating reports manually
- You are not accurately calculating costs
- There is some confusion as it relates to warranties and service
- Your POS (point-of-sale) system is not connected
We know there can never be a perfect time to upgrade from your basic accounting system to a more advanced and experienced accounting system but waiting too long can result in your business losing control quickly.
When you implement the right accounting system, you will be able to have the control and the transparency that you will need. For more information on how you can determine if your accounting system is hurting your business, please do not hesitate to contact us today.
