Accounting is one of the vital components of a business but not an easy task. Not only does it show the position of account balances, it is also the basis to judge the financial competence of the firm. Being a specialized job, it is difficult, cumbersome and time-taking.
A one-stop solution that can help a small business or a new start-up with its accounts is an automated accounting software suite. Computers have taken up the burden of accounting and now the world has moved to the online tool i.e. cloud accounting.
How does Accounting Tools help?
The Cloud Accounting Software helps in streamlining the flow of essential information through various company departments, reduce administrative paperwork, and maintain updated records of real-time financial transactions. And further with the help of Automated accounting tools businesses can report and document accounting transactions.
Why do Small businesses need to manage their Accounts more efficiently?
Accounting is only one small part of managing the financial side of a company. In fact, large companies have an internal financial planning and analysis department for a reason. This team of professionals works together to identify which pieces of financial data are actually important, highlighting business drivers, identifying inconsistencies and supporting leadership in making plans to mitigate challenges. This kind of analysis can provide warning of issues before they arise, helping executives to determine failing lines of business while providing a roadmap for the future.
Insight into what matters and what doesn’t can be a huge leg up, helping decision-makers to determine where costs can be cut, understand detrimental variances to the budget and keep the business operating like a well-oiled machine.
In a small business, however, there’s generally no room in the budget for an FP&A team, leaving business owners without this robust resource during the analytical process. And this is exactly where automated accounting tool comes into play.
Cloud-based accounting tools are user-friendly as it completely eliminates the need for professionals to run your accounts, feeds data into and generates a report from the packages. Tech support and back-end engineers facilitate minimum maintenance, thus keeping the service economical and affordable.
One Such Automated Accounting Tool – RealBooks
RealBooks has been developed with the same objective of providing SMEs with a tool that is as robust as needed to manage a Fortune 500 company but is user-friendly and affordable at the same time.
With the web and mobile application, RealBooks can be used anytime, anywhere where the whole team can work simultaneously. Also, with the automatic generation of reports, decision-makers can benefit from the accurate data available to them helping in future planning and budgeting.
So if you wish to build a Fortune 500 company it is time to move to an accounting tool that supports your growing business. It’s time to redefine your business intelligence with RealBooks.