It is surprising how many businesses still keep boxes of 3×5 ledger cards with customer and vendor information on them. More likely than the card box, the business may be storing its essential customer billing and vendor product information in the accounting system because that is the system they have. These growing businesses need a better system to capture more information that delivers greater detail for accounting and reporting purposes. Just as likely, the business has other information it should and possibly could be capturing but isn’t sure about what steps to take next.
Why Outdated Bookkeeping Holds You Back
When details that inform a process are not part of an integrated system, it creates greater potential for lost or inaccurate data. The larger the volume, the more difficult and error-prone managing the information becomes.
Signs Your Business Needs More
This is the point where the business needs more detailed information about… everything. Businesses may need to track time for payroll or jobs or both, job tracking may be a requirement, or more detailed inventory management may all be areas for greater attention. Development of the capability by making sure the business is using the right edition of QuickBooks, and then enabling the functionality needed to support the workflow and capture more and better data.
From Data to Insight: The Role of KPIs
No data means no KPIs.
More and better data means more information to fuel KPI reporting. Key Performance Indicators can reflect operational performance in a variety of areas and may help identify where improvements are required. Using data from the accounting system, businesses of all sizes measure their effectiveness using KPIs, and evaluate the successes – or failures – of their processes and activities.
Partner with Experts to Get More from QuickBooks
Mendelson Consulting’s team of QuickBooks Enterprise Experts and ERP consultants provide guidance, implementation and training, and report development to get beyond bookkeeping to proper processes that result in good accounting data. Whether just starting out or an enterprise or franchise expanding at a national or global level, Mendelson Consulting helps businesses do more with their systems and software. We understand each stage of business and how to help our clients reach their next best level.
