To the blog for small and medium sized business (SME) owners.

Monday, February 19, 2007

Do You Achieve Maximum Benefit From Your Accounting System?

The business owner may lack reliable data on which to take informed decisions. However, in many cases financial accounting systems are used, but unfortunately not always in a manner designed to achieve maximum benefits.

It may be that the accounting system is used for accumulating data to form the basis of annual accounts, with maybe some integration with sales ledger (receivables) and purchase ledger (payables).

If this is the case in your business, or even if you generate monthly management accounts from your accounting system, step back and consider how much more valued information your system could give you at little or no further cost.

The accounting system should be viewed as an integral part of your systems and not considered a stand alone system that only benefits the accountant or bookkeeper.

If you need help in appreciating how much more benefit you can derive from your accounting system contact DAW Consulting for a free consultation.

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