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Are you System Smart?

Kathleen Lockwood

If you have a business, then you already have some sort of accounting system. But, is it the right system for your business? Are you spending more time editing line items, categorising transactions, and refreshing bank feeds than actually looking at your data? Are reports more painful than helpful?

All of these signs point to the fact that you are either not using your system correctly, or the system doesn't fit you. Perhaps you've outgrown your current system or just need a "system 101" run-down. No matter the issue, your accounting system should be value added - providing business insights, reports, & overall helping you run your business more efficiently. 

You should be making decisions based on "smart" insights like business forecasting tools, or a detailed query that shows which clients or products you have are most profitable. If you're doing it right, you should be able to pull information quickly to make fast decisions. 

The benefits of smart accounting far outweigh the effort required - so ask yourself, is your business using the data you already have in smart ways? If you're not sure or hesitant, your first move is to step back and look at your system and how you're using it.