11 Ways to Revamp Your Accounting System
The design determines whether your software works with you or stands in your way. Poorly designed software slows your progress and increases your stress level. It’s also missing essential features.
Software Design is the Key
“If we want users to like our software, we should design it to behave like a likable person: respectful, generous, and helpful.”
A quote from Alan Cooper, Father of Visual Basic and UI expert
Source: Brainy Quotes and Quote Master
Alan Cooper is a free-spirited, unconventional programmer raised in Marin County near San Francisco and Silicon Valley. He began programming in the 1970s. Cooper transformed the software experience for millions of people by inventing a visual programming language or shell construction set called Ruby with a radically different, intuitive user interface. In 1989, when he pitched the idea to Microsoft, the software was so compelling that the product idea was soon presented again in a meeting with Bill Gates. Microsoft bought Alan Cooper’s Ruby operating system shell which it first released with Windows 3.0 in 1990. Microsoft later combined his software with their QuickBASIC software, renaming it Visual Basic. Visual Basic is still popular today. Alan Cooper later became a consultant and wrote influential books about designing user interfaces (UI), which were initially called human-computer interfaces (HCI).
ZarMoney accounting software has a great UI. It’s designed “to behave like a likable person.” The menus were created to simplify accounting. Many of the features and functions are reachable from one place that makes sense. The accounting software allows you to intuitively record transactions and reach out to your customers in the way and at the speed that they like. The ZarMoney accounting solution provides capabilities that are beyond those offered by competitors. If your current accounting software isn’t working for you, it’s time to do a quick software evaluation. Consider the 11 essential features that the right software platform should provide.
11 Ways to Progress with Essential Features
1. Collaborate in Teams
Well-designed software allows you to collaborate in teams. It has built-in contact management and messaging systems with alerts for project management, troubleshooting, and fulfilling customer orders.
2. Access Your Books from Any Device Anywhere
Cloud based software lets you use any mobile device or computer to access your books, view or record transactions, and communicate internally or with customers and vendors. You have the freedom to be anywhere when you do your accounting work. That’s true even if you’re a small business owner. You can support your child at a soccer game or be comfortable at home. You can create your first chart of accounts or add accounts from anywhere. You can complete automated bank reconciliation. You can issue invoices. You can do any accounting task. The cloud also frees you from worries of a corrupt or missing backup that can mean you’re done (if you’re not the small business owner). That doesn’t mean a job well done. Instead, it may be time to send out some resumes to apply for your next job.
3. Manage with Custom Statuses
A well-designed accounting solution allows you to set up custom statuses and use
them to manage order processing workflow. These custom statuses mean something to your business and team. They allow you to get a handle on the current state of the business and collaborate in teams to expedite orders. They also automatically inform customers when anything in their order changes.
4. To-Do Calendar
Schedule deliveries, customer callbacks, or any crucial tasks. Assign customer or invoice numbers to task for easy retrieval. A built-in to-do calendar lets you set reminders and stay on schedule without missing meetings. It keeps you aware of deadlines. It can use contact management information within the system. ZarMoney lets you drag tasks to your calendar.
5. Accept PrePayments
A fully functional accounting software system lets you accept customer prepayments. Receiving cash and depositing it in your bank account before you provide services and deliver products ensures payment and speeds up cash flow.
6. Notification via Text and Email
With embedded notification via text and Email, you can communicate with customers and vendors about orders in real-time. You’ll receive alerts to help you troubleshoot. You can send customer invoices instead of mailing them, speeding up accounts receivable collection time and cash flow. You can communicate with your vendors, reducing your own product order time.
7. Organize Customers with Custom Fields
The right accounting software allows you to set up custom fields that match your business needs. You don’t need to restrict yourself to fields that come with the software. You can do more meaningful data tracking and analysis.
8. Approve to Pay Helps You Avoid Costly Errors
Approve to pay is an essential feature of accounting software. Authorized approvers will
recognize which invoices are authentic, with proper business expenses purchased at a reasonable price by the right people in the organization. These approvals will occur before payment, saving your company money. With approve to pay built into the system, approvers will not have to spend a lot of time looking at paper invoices to initial. The purchases will already be matched within the system to approved purchase requisitions, expense reports, or purchase orders. Internal control will be better because approve to pay adds an extra layer of security.
9. Manage Cash Flow Through Advanced Payables
A fully featured accounting software system should make cash management easy. Cash is essential to sustain the business and help it grow. The better your cash management, the less external cash you need to finance the company. To improve cash management through accounts payable, you can determine how to best schedule vendor payments to take discounts or stretch the payments, keeping your account in good standing without adversely impacting your receipt of products or services from the vendor. ZarMoney includes a payables calendar feature.
10. Manage Multiple Warehouses
With the right accounting software, you’re not restricted to one warehouse location. You can manage multiple warehouses as you grow your business. You can also manage transfers of inventory between warehouse locations. Accounting for inventory is better, and internal control improves. You’ll have instant access to your inventory counts from various locations, including individual items. You can view sales and purchase histories, giving you a global view of your entire operation for quick multitasking.
11. Split Transactions with Enhanced Inventory Receiving
Another essential feature of your accounting solution is the ability to split transactions. If you receive items that you have ordered through the same purchase order at different times, then you need to process the receipt of each item separately when you receive it, including inventory items by part number or SKU. Split transactions capability improves inventory accounting. ZarMoney software allows you to split related bills, so you only pay for the items you have received.
When your sales order includes backorder items, you can split the transaction to record and invoice for the shipment of items sold at different times.
When your accounting software system has a smart design, it provides the best features intuitively. Your work is faster and better. You can collaborate in teams and with the customer and your vendors. Just like your software, you can “behave like a likable person” and have more free time to enjoy your life while upping your game. ZarMoney is the right cloud accounting software platform that gives you at least these 11 ways to revamp your accounting system.