Tag Archives: Accounting
There are a great deal of challenges facing the business world today and in particular those businesses whose primary revenue comes from sales, such as retailers. The costs of running these businesses are forever increasing, and as such, a business’ profitability will be reduced dramatically. Whether it is in the form of increased materials, distribution costs, or minimum wage increases, business owners everywhere have a constant headache in terms of minimising costs.
The biggest way for businesses so remain successful in 2012 is to produce an effective cost reduction plan. Not only will this see them remain financially healthy in the short term but it will also put effective business practices in place, enabling the business to remain strong through another global financial crisis, should one occur in the future.
Significant sums of money are spent by businesses each year on the upgrading and on-going maintenance of point of sale programs. By obtaining a free POS software download program, a business can take huge steps to dramatically reducing the costs associated with this. The beauty of such software is that it is entirely cloud based, so all that is needed is a computer terminal in a business in order to use the software. The only costs associated with a free POS software download come in the support functions. However, given the increased reliability and performance levels that you get with such programs, these costs are unlikely to be colossal. In a world where business leaders are forever fighting cost increases, this is much more favourable than paying for 24/7 support cover for an unreliable software and hardware package. This is before we even get into the additional costs of an engineer visiting your business to resolve the issue if it is something that cannot be resolved remotely.
How It Helps Your Business
In addition to the superb cost savings, a free POS software download can help your business in many ways. It can be a great time saver for the multi-site business manager, as they can simply log on to the cloud at home and view each site’s performance, rather than having to visit each site individually, or rely on communication from all of their managers.
A free POS software download can also drive significantly better employee productivity, as visibility of performance measures is dramatically improved. Other key business levers such as inventory control and stock loss can also be measured accurately.
Posterita provides free point of sale software to retail businesses. Moreover, they offer marketing and business advice to their partners and clients to help their business grow. If you want to find more about their free POS software download it from their website.
For every business owner, there comes a time when it becomes essential to create a system to handle the financial matters of the business. Whether you, as the owner, are looking for some financial reports on your company or simply adhering to your taxation requirements, maintaining the financial records properly is absolutely essential. Whether your company is growing rapidly or requiring a loan, you need to have your financial back-end in order.
Here’s a look at some things that you need to ensure that your financial software has to make your life simpler.
Simple to Understand
Whether your business is growing or you are simply trying to bring some order into your life, you need to spend as little time as possible maintaining your financial records. Why? Because the more time you are spending on your accounts, the lesser time you are spending doing what you are supposed to be doing – moving your business forward. Sure, you are, in a way, still promoting your business through the financial software but when you are sitting and setting your house in order, you aren’t exactly manning the cash counter or making a sale.
Also, if you are just moving into the world of accounting for the first time, you don’t want the software to discourage you from learning more about maintaining your company’s financial records properly.
How often have we seen fantastic software go down the drain simply because they don’t have the kind of support and help required to aid their customers. For a business owner who’s taking her/his time away from regular work, this is a major investment of time and money. If the software doesn’t take this into account and create a simple system of getting out of tight spots, whether through telephone help-lines, user manuals or just email-support, then customers might never return to it. Basically, it shouldn’t be easier to switch to another product rather than find a solution to any problem!
If you can, you need to get an accounting system that gives you the advantage of having pre-made provisions for money that you are likely to receive. Whether through sales or just in terms of creating estimates, your company will need every little bit of help it can find in these software. Having provisions about billing and raising invoices will help create a simple process that has a small learning curve and allows you to introduce these elements, into your daily functioning, immediately.
Whether you are looking at paying your employees, handling vendor payments or simply keeping track of the cheques given out, the ideal financial software will help you keep track of all that and more. There are plenty of software that offer a unique understanding of these systems and ensure that you have all that is needed to handle all your expenditures. Some even go a bit further and give you a certain amount of freedom in making payments through the system, by connecting with other websites or gateways. Depending on what your primary need is, you can make your software buying decision.
Some financial software also have special additional tools that include features which allow you to manage your inventory, handle the time-sheets of clients as well as keep a track on projects and their costs. They not only keep an eye on these things, for you, but also ensure that you get timely reminders to make life simpler.
Whether you are looking for something that takes complete control over your entire financial setup or something that simply takes over a few responsibilities that you need to look into, financial software are extremely important to help your business grown and maintain itself. If you are planning to turn your organization into something special, then dig deep and find the best software for your company because the time you spend in searching for the right tool is a fraction of the time you’ll save later!
ARTHUR COOPER –author
When Arthur decided to take his father’s little mom ‘n’ pop store to the next level, his biggest challenge was managing the growth. Using his background education and work experience as part of a small-business IT support team, Arthur is aware of the problems that business owners face when dealing with day to day workings and is always eager to share his knowledge with curious or interested people.
Work in management or around management and at some point in time or another you are sure to hear the term or terms concerning “Analyzing Cost Variances”. Just what do these terms mean and what are their great potential implications overall to management, their management and leadership decisions and to the long term health of the company or enterprise?
The term ‘Analyzing ( or analysis) of Cost Variances” refer to the strategies and analytic workups and conclusions accountants and accounting bean counter types derive when they encounter a deferring tally or differences between what might be called the “real” ( on paper or computer spreadsheet) budgeted costs and actual spent costs. The phrase may well be heard from the mouths of, memos and emails of management and upper management to accounting – I (we / the team) wants and answers to the discrepancies and disappearances between the two values. Further management may demand that they want an answer promptly or at the least within a reasonable enough time period to take good corrective action and actions. Significant differences of this figure or value (accountants have a habit in their “lingo” of referring to these tallied differences as “variances” in either real dollars terms or more innocuous “figures” as if they are simply chits on the table. Yet to a legitimate and astutely run operation all deferring figures and variances should be identified and targeted promptly for full, complete and comprehensive corrective action. Yet its often more than difficult if not impossible to change a direction or even heading of a ship either putting out good speed , or even direction if a ship of great weight of inertia.
In many companies , firms and organizations themselves , it can be said and clearly noted that accountants , and their associated “accounting departments” , with all the plethora today of computers , great and cheap computer power “in the cloud” along with a host of complex and even cryptic algorithms spend so much time identifying variances and ensuring that they are allocated to the right , specific and correct accounting time period that for the most part that they never really get around to telling and explaining to management – both upper and middle management levels – what these variances really mean or indeed what might of caused them.
It can be said that it can be best and the wisest choice not to assume that the experts in the accounting dept or the specific accountants involved actually know , have a good fix or perhaps even have the smallest inkling and inklings of the cause of every variance on their books.
It can be said that a wise and experienced strategy by management is to ask , or even insist , on a plain-language explanation or what caused the variances – or at the least some optional and potential reasons or even suspicions of what did cause these discrepancies or variances. If the “bean counters” can back it up with actual hard data, at least you will have hard to base your decisions on, rather than flying blind. Other times it may be an amalgam of potential answers without full supporting data. Its then up to you and the “management team” or teams to come up with a plan of action and a host of decisions with which to implement these policies , plans and procedures fully.
Kirk B. Stephens
Senior principal Ace Employment Services – Winnipeg’s Manitoba temp service employment service