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Learn about three signs that you should update your business’s accounting software.
As your business grows, you will likely find that your accounting system is no longer keeping up with your financial management needs. As business needs increase, owners should start to consider hiring an outsourced accounting and bookkeeping provider to supply the necessary financial support. Continue reading for three signs that your business has outgrown its accounting software, and it is time to call The Harding Group for accounting and bookkeeping services!
Expanding Payroll
When you hire more staff for a growing business, your payroll will expand, and most accounting packages will only support staffs of up to 50 employees. If you are nearing 50 employees, it’s crucial to update the software as soon as possible. Also, even if your business may not reach 50 employees, it’s best to update the software anyway to avoid the time-consuming task of manually processing payroll checks.
Slow System
As your business grows, the accounting system will have to keep up with the increasing number of transactions. This often results in systems becoming very slow and bogged down, resulting in a decrease in productivity within the office. To avoid a slow system, your business should look into hiring accounting services to manage the increased transactions, rather than spend more money on expensive accounting packages.
No Customization
While some financial accounting reports allow for a few minor edits and adjustments, they typically provide minimal customization. Customization is necessary for detailed reports required by a corporation or state tax department, but a majority of the third-party software add-ons won’t work with all accounting packages. Companies have the choice to purchase multiple software packages and ask employees to manually create the reports, or outsource accounting and bookkeeping services to a professional. Since the first option isn’t cost-effective or productive, the best option is to upgrade and outsource! At The Harding Group, we take pride in our ability to provide top-quality bookkeeping services at reasonable rates to ensure you get the most cost-effective option. We also offer flexibility in the types of services we provide, allowing you to choose from a range of different services to find a match for your business!
trust the professionals at the Harding group
Unlike other accounting firms, The Harding Group, located in Annapolis, MD, will never charge you for emails or phone calls and will strive for open communication with our clients. Whether you are interested in business advising, tax preparation, bookkeeping and accounting, payroll services, Training + support for QuickBooks, or retirement planning, we have the expertise and years of experience to help. We serve clients in Annapolis, Anne Arundel County, Baltimore, Severna Park, and Columbia. If you are ready to take the stress out of taxes, contact us online or give us a call at (410) 573-9991 for a free consultation. For more tax tips, follow us on Facebook, Twitter, YouTube, and LinkedIn.