The New Accounting: Organically Grow Your Business

For many businesses, accounting is seen as a necessary evil; something to be conducted, with obligatory seriousness, only as it comes up for monthly roll-ups and annual reports. It is unfortunate that more companies do not truly utilize accounting more strategically and organically; where it can be used to effectively and actively inform decisions, rather than just being begrudgingly submitted to when the time rolls around. A company’s finances should not be treated as if in a box; compartmentalized separate from the day-to-day dealings, decisions, and actions of the company. Each employee, piece of office equipment and technology, and accepted method of decision-making and action, is a part of a living, breathing economic entity; surviving in a dangerous economy where other entities are being born, and dying, every day. Each move informs the next, and each piece of data must be actively available to be integrated into the whole.

The financial information derived from accounting should be treated as a master key to inform and guide the direction of a company, such as where to focus marketing and sales, where each and every dollar is likely to get the most bang for the buck. Integrating, in real-time, this financial intelligence at all levels of the business is sure to enable and support improved decisions all around. A keen and organized up-to-the-moment eye on the cash flow will instruct a business on where its precious funds are most wisely spent. In addition, acquisition of streamlining accounting tools can save money and time, giving more control to the company itself; making it less reliant on outside accounting, and freeing it from endless fees.

The generation of digital invoices, which expedite the delivery and payment process, is just one example of how a business can benefit from stepping up its accounting process, and embracing the technology currently available to it. In addition, many of these accounting software packages have features which can help generate reports and capture information that will satisfy regulatory requirements for small businesses, ensuring a business is meeting all required standards.

In order for this to be a reality for a company, the decision-makers and managers outside the finance group have to have access to financial applications; meaning those applications should have multi-user access. A server that can handle this data is crucial as well; ease and speed will encourage use, simply put. The ability to customize the accounting process should also encourage use, and allow individuals to shape their tables or reports literally around their needs.

Lastly, a company may want to consider specialized applications oriented towards its particular business niche or industry. This can further streamline the work, and assist with regulatory compliance, ultimately protecting it.

The important point to derive from all of this is that accounting should be a fluid process which informs the business every step of the way…not just something done in the back office that is not practically or cognitively considered by anyone outside the financial staff. Money is the virtual liquid-gold life-blood of your business, and each person responsible for making decisions at any level of your company should know where, and how, it flows, and what to do when it’s bleeding. A company armed with this kind of knowledge can only stand to profit, literally. Intuit Inc; a provider of financial management, supports this holistic stance.  Here at Coupon-Gurus, we empathize as well, because we are a small business ourselves. That is why we are excited about Intuit’s Small Business software solutions.  With efficient, near real-time data at your fingertips, a company can better take control of its own future; steering determinedly, instead of nearly flying blind. Knowledge is power, but just knowledge alone does nothing if it isn’t utilized. If you’d to like to see what Intuit can do for your small business, try Intuit Payroll and Intuit Quickbooks free for 30 days.

This blog feature is a collaboration between Coupon-Gurus and Intuit, authored by Anita Osterhaug, Technology Reporter, and Danielle Golfieri, Internet Marketing Specialist. ©2009 Intuit Future of Small Business. All rights reserved.