I’m not sure this is going to be a popular bookkeeping software blog. Because change isn’t generally something we seek out or embrace wholeheartedly. But it is important to regularly review if your systems are still working for you. If you’ve outgrown your bookkeeping software. And to see if there are better options are there
Now I just wanted to say ‘better’ is entirely subjective. For some people saving time might be more important than saving money. For some people connecting to another platform seamlessly might actually be the most important factor even if that costs more money or takes more time. You know your business best so use your subjective opinion to decide what is right for you.
But also remember that change can be a good thing. An opportunity to make things ‘better’ and there will be a learning curve in making a change.
1 . You are doing a lot of manual work
This is something I’ve seen come up a lot since Wave stopped automatically importing bank transactions and now they’ve switched off the Etsy integration. If there are platforms that will allow you to do less work and you are struggling with time or motivation then making this switch might allow you to be more consistent with your bookkeeping.
2 . The functionality isn’t meeting your needs
If you started using your current system when you started the business then your requirements may have been simpler. Maybe you didn’t have a lot of products or projects to manage, you didn’t really track your inventory, you weren’t registered for GST and you didn’t have seven different bank accounts to manage your cash flow. If you are having to do work around to get done the things you need then considering a new bookkeeping software could be a time saver. Functions like linking to the ATO Business Portal to lodge your GST in one or two clicks, automatically tracking your inventory based on purchases and sales to linked items and easily tracking multiple bank accounts and PayPal accounts are fairly standard in the big three bookkeeping systems.
3 . You need to rework it for other purposes
Are you finding yourself going over the same information but having to produce it in a different format? Maybe your accountant is using a different system and they are recreating your data which is costing you additional time with them. Maybe you hate the format of the invoice in your bookkeeping software so create a separate document so you can control the format or you have to create another copy so you can add attachments. Have a think about how much time these additional tasks are taking and then research alternatives that might be available in different softwares.
4 . You are having to use multiple systems
If you’re managing your invoicing and expenses in one system. Your inventory management in another. Client relationship management in another. And your payroll in yet another system. You’re potentially losing out on the efficiencies of having these all in one system. I’d encourage you to explore whether there is a single system that could deliver the same functionality. It might not be possible but a bit of research could prove successful in saving you either time or money by combining a few systems together.
5 . You just don’t like it anymore!
This one seems like one you could just put up with. But I find that giving client’s permission to let go of what they are no longer enjoying is often enough to help them regain that motivation. They know the benefits of bookkeeping in running a successful business. But their dislike of the system or process is stronger than a logical reason to keep going. I’m not saying a change in bookkeeping software is going to make you love bookkeeping. BUT if your dislike of the system is so strong that it’s stopping you then you need to try something. Maybe you’ll find that you dislike other systems even more and help you appreciate what your current system can do. There’s a bit of experimentation needed here and unfortunately there’s no guarantee of making it better.
Have you outgrown it?
Do you even use software? There are so many benefits to using bookkeeping software. The most important is keeping you up to date on the performance of your business so you can make informed decisions and achieve the growth you deserve and desire. Maybe you’re still using a bookkeeping spreadsheet…?
If you have outgrown your bookkeeping software and want someone to guide you through the process then let’s chat. In my one month VIP program we set up a bookkeeping system and learn about how your requirements work in the system, work on your pricing or inventory management and figure out a cash flow plan to make sure you have enough to pay yourself and the ATO. Book a free chat to find out more. We meet four times and you walk away knowing exactly what needs to be done and when.
Free Live Training
If you’re bookkeeping takes FOREVER and a DAY, and you wonder if you’ve outgrown your bookkeeping software. Then join my live training on Wednesday 26th August at 2pm to get my plan on getting it done in under an hour a week. Sign up here.
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