Many small business owners feel it is necessary to avoid incurring additional expenses, especially products in the form of subscription fees and software program costs. However, the money you think you are saving may very well be costing you money as well as time and potential long-term problems. Here at Tax Alternatives, we strive to help our clients understand that an inefficient accounting process that does not generate actionable accounting reports or may even contain inaccurate data is all but useless to your business. A manual accounting system makes it altogether impossible to predict business growth and have at a quick glance an analysis of all your accounting transactions.
We want our many clients to understand that high-tech, state of the art accounting systems and technology tools in all forms help your business to improve efficiency, save money, reduce accounting errors and even increase overall revenues. With a manual accounting system, business owners waste not only time and labor hours, but can certainly waste a good deal of money as well.
MANUAL ACCOUNTING SYSTEMS COSTING YOU MONEY AND HARM YOUR BUSINESS
There are a number of ways in which using a manual bookkeeping and accounting system can harm your business
- Not an efficient use of employee time – When you have designated specific employees to manually tend to your business accounting there is much that goes into this process. From gathering data needed and rustling with paperwork to actual data entry, the time-consuming tasks are many. Small business owners are spending monies on employee tasks that can be better and more quickly accomplished with cost-saving technology and software programs. When you choose to rely upon automation and software technology and to rely upon our team of dedicated specialists here at Tax Alternatives you leave more time for your employees to perform work that can ultimately drive profits for your business.
- Missing out on accounting system integrations – If your small business still relies upon old school time cards, manually tracking employee time and PTO time, and spending endless hours addressing these issues, then surely your business is missing out on potential growth. Time spent by HR employees to manually track timecards and employee time off can be better served with the right software program or by outsourcing your accounting needs. By investing in software programs or in efficient outsourced accounting services, you leave quality time for HR personnel to focus on employee goals, incentives and ways in which they can help contribute to the overall growth of the company. To build a more profitable business invest in a time-tracking program that is specifically integrated with your company payroll and scheduling management.
- Inefficient data – A manual accounting system can be remarkably inaccurate, unreliable and very slow. As a result of this, employers sometimes question the accuracy of their business dollars and numbers. An accounting system that is not accurate and is unable to produce accurate monthly financial reports that are critical to business decision making is more than inefficient, it is somewhat useless. It goes without saying that a manual system is in now way as accurate and efficient as an automated accounting system. It is important for business owners to be able to access accurate numbers and financial reports in a timely manner so as to make important and accurate business decisions and to know the financial state of their business.
- Tax preparation and reporting omissions and errors – Manually managing such business processes as reporting of sales tax and 1099 reporting can be quite challenging. Comprehending changing tax laws and regulations, both locally and federally can also be very challenging with a manual accounting system. When you choose to invest in our top-of-the-line accounting and tax services, you not only provide protection from inefficiencies and inaccuracies as well as possible non-compliance but you will also save money over the long run.
TAX ALTERNATIVES MAKES OUR CUSTOMERS OUR NUMBER ONE PRIORITY
Here at Tax Alternatives, Inc. our clients are always our number one priority. Our team of highly skilled professionals is steadfast in their commitment to provide all our valued clients with the highest quality services this side of the state. Whether you are still engaging in manual accounting or find yourself in need of any number of other outsourced business services such as payroll or tax preparation, we are the team for you. Simply give a shout out to one of our team today to schedule your consultation. We look forward to our every opportunity to serve you and help you reach all your small business goals year after year.