Most bookkeeping services and accounting services for San Diego small business start out with a very basic version of software. It handles the core functions regardless of a business’s size or niche. Through enhancement add-ons, the bookkeeper or accountant is then able to install software to meet the unique needs of the business. Enhanced accounting software can make a business’s financials streamlined, simplified, and thorough.
These enhancements are via apps/utilities designed to enhance function. While thousands of these apps exist for various needs, there are eight categories that most any small business could benefit from adding.
Payroll is a universal bookkeeping service needed by most San Diego small businesses with more than a handful of employees. This app safely stores the employee’s details, including:
•Rate of pay
•Tax withholding status
More costly apps can even store direct deposit or physical paycheck information and calculate workers comp payments. Whether advanced or basic, such apps take a tremendous manual labor burden off whomever is handling the accountant or bookkeeper role within an organization.
2. Automation Between Pieces
Business operations today typically involve several software platforms. Take payments as an example. Payments via digital, cash, and card require a point of sale system; e commerce means an online payment processing system; and remote payment collection, quotes and invoices offsite in today’s world of handheld device usage may require a mobile point of sale system. It’s a lot, right?
Apps like time tracking and appointment calendars are useful. And, an app to interconnect all the business’s accounting service systems to the various points of sale, payment, and invoice functions is a must to keep everything operating fluidly.
3. Control Cash Flow
Use a secure cash flow forecasting app to help ensure accounting processes are as expedient and thorough as possible. It can even initiate collection processes when needed, and some will provide “what if” modeling. Business owners will have scheduled reports at hand, speedy cash out/in records, low cash notifications, and forecasting for short and long-term goals.
The above is of particular importance when a business has multi-users for cash flow entries. The cash flow app allows for more accuracy between accountant, bookkeeper, sales, management, and all other points of access.
4. Expenses And Accounts Payable
Bookkeeping service apps to expand on a basic accounts payable function make it easier to match documentation between various processes. Purchase orders and invoices, for example, can be systematically matched to their appropriate shipping documents. The end result is more expedient and accurate approval and payment processes.
Employee expense reimbursement is a similar situation. An expense report app addition can make getting employee repayment approved and in their hands a much more expedient process.
5. No More Shoe Boxes With Documents
Scanning apps for physical documents and other features of accounting service software means that there’s no reason to have boxes of documents taking up space in an office and the accountant or bookkeeper to search aimlessly through it all to retrieve a piece of data. Apps enable such to be simply scanned and stored digitally. Keep in mind that integration with accounting apps makes it easier to stay compliant with authoritative and regulatory bodies, too.
6. Control Of Inventory
It’s an often overlooked operation in San Diego small businesses, but keeping inventory control accurate can be a make it or break it situation for any business reliant upon sales.
Most all inventory apps use bar coding and labeling and have shipping and tracking functions. Inventory apps streamline the process and keep numbers precise, which in turn makes ordering easy, theft easily identifiable, and cuts waste.
7. Reporting Features
Whether it be future planning or an evaluation of how current accounting service systems are performing, report generation is an invaluable assessment tool. Such enhancement apps can enable better budgeting, metrics dashboard, key performance indicator graphs and spreadsheets, and other information for better decision making.
8. Connecting It All
All the above apps simplify and enhance business operations when it comes to accounting services and bookkeeping services. That said, the final must-have app is a way to connect them all. These add-on apps are most efficient when they’re able to communicate and transfer data between systems through a single connective app. In closing, every San Diego company might not have all these needs or have needs not listed above. These are mere highlights to the world of accounting apps. Contacting a professional bookkeeping service or accounting service is always the best way to identify the software add-ons best suited for a company’s unique needs.