Are You Ready to Update Your Accounting Methods?

Sage 300 and Acumatica Enable Faster, Accurate Accounting

Accounting is a profession that rarely experiences great changes. The earliest known ‘accounting’ data consists of ancient tablets and scrolls found in the Mideast where scribes carefully recorded tribute sent to kings. This kind of tallying of inventory and wealth is the basis of most accounting methods.

Over time, accounting moved of course to parchment, then paper, and then to computers. Now, we’re in a period of time when great innovations in the world of computers have made it possible to handle massive amounts of data that would boggle the minds of those scribes back in ancient times.

What are you using for your accounting needs? An older software package that doesn’t integrate with other packages? Spreadsheets?

It’s time to update.

Changes and Disruptions in the World of Accounting

Both macro and micro forces are changing the world of accounting as we know it. Such forces may already be in play at your business or they may be on the horizon. Regardless of where they are today, they will certainly play a big role in how you view and use your accounting methods in the future.

1. Connectivity: Customers today demand real-time updates. They expect an interconnected world in which information flows freely and in real-time. Internet, cloud, and other technologies have raised expectations about how quickly and easily data can be accessed. The accounting profession is recognizing the benefit of interconnectivity and the ease with which they can keep clients informed. Connecting with clients using technology is at the vanguard of technological innovations affecting accounting.
2. Less manual entry: Manual data entry is the bane of many companies. It’s time-consuming and open to mistakes. Technology that integrates accounting and ordering systems eliminates many tedious manual data entry tasks. It also eliminates the errors that go with them, improving the accuracy of information.
3. More do-it-yourself: DIY is all the rage with consumers and it is growing in popularity among business owners, too. Why spend a lot to outsource tasks when software makes it possible to do them yourself? Accounting software packages have been on the market for many years and, of course, some companies still use the ubiquitous spreadsheet. Newer software packages make even complex accounting tasks easier and help you do much of your accounting on your own, perhaps having your accountant or CPA review files at the end of each month, quarter, or year.
4. Machine learning: It sounds scary—machines learning tasks. But machine learning is now part of the business world and it is affecting accounting, too. Machine learning means that machines learn from mistakes and tasks to better predict future responses. When it comes to accounting, both machine learning and artificial intelligence are helping accountants view data in real-time and make better predictions based on data.
5. Specialization as the norm: Specialization is impacting nearly everything from products to people. Accounting software now comes in specialized packages or bundles, so that no matter what industry you are in, you can purchase software specially designed with your industry needs in mind. You no longer must settle for generic alternatives when customized ones are so readily available.

Get the Best Accounting Software

With so many trends disrupting and influencing the accounting profession and accounting software, the field is changing rapidly. You no longer should settle for run of the mill software or spreadsheets to manage your business data. Accounting and financial data can be managed easily using Sage 300, Acumatica, and other specialized accounting software. It combines the best features outlined above with excellent support for a truly revolutionary approach to accounting and financial software.

Sage 300, for example, is considered an ideal accounting software for businesses seeking to control costs while improving profitability. The sheer volume of data that Sage 300 can handle effortlessly makes previous versions look like parchment scrolls compared to computers. Available in both on-premise and cloud versions, Sage 300 gives you the control you need to build your business.

Acumatica is another software package that offers great control over your accounting work. It offers a comprehensive and dependable cloud accounting solution that includes CRM and business management tools for one software package that offers flexibility and integration. 

Even though accounting hasn’t changed much in the past several centuries, the way we record debits and credits have changed. We’ve moved from papyrus to paper and now form paper to PC (or Mac). It’s time to update, upgrade, and embrace the changes in accounting and accounting software for better business insights.

Free How-to Videos 

Did you know that Mindover Software offers free how-to videos on YouTube so that you can get the most from your Acumatica and Sage 300 software? Check out some of these titles to learn more tips and tricks:

• How to Apply Pre-Payments in Sage 300
• How to Process PO Receipts and Add Costs in Sage 300
• How to Process PO Receipts and Add Costs in Acumatica

Mindover Software

Mindover Software provides business software and solutions to companies big and small. Cloud applications from Acumatica and Sage provide companies of all sizes with powerful data management and business insights. For budgeting and forecasting managers, we offer integrated business intelligence suites and assistance with integration, cloud software and more. Contact us today for more information.

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