It's no secret that running a business takes substantial time and energy, and day-to-day financial considerations can sometimes get lost amid more pressing concerns. Accounting software can help  to meet the needs of small businesses. Below are a few ways this software will help streamline your small business. 

How Accounting Software Can Help Your Small Business

1. Manage Sales

Invoicing is a time-consuming process, and keeping track of who has paid and who hasn't is a full-time job in and of itself. Most accounting software makes sales management easier. The software generates and tracks invoices, and you can run reports that show the status of all current and past-due balances.

2. Record Bills & Expenses

Accounting software allows small businesses to connect their bank accounts and business credit cards directly to the system software. This ensures that all bills and expenses are debited and categorized. You can also run accounts payable reports that outline which bills are current and which are past due. You can even do daily reconciliations that keep all bookkeeping balances updated with the latest figures.

3. Pay Employees

Accounting software also offers a payroll option. A small business owner can pay their employees with a check or through direct deposit. The system automatically calculates federal and state taxes, so you don't need to worry about making a mistake with the IRS, and it will even complete payroll tax paperwork for you.

4. Maintain Inventory

When you input transactions into accounting software, the software can automatically adjust inventory. Then, when you run reports, you have an accurate record of current stock and know when it's time to order more or increase production.

The accountants at Erie & Associates, P.C., will help you get your small business set up with QuickBooks. They offer a variety of bookkeeping services for small businesses, including tax preparation, payroll, and financial projections and consulting. With more than three decades of accounting experience, they are committed to providing the highest levels of financial guidance to clients throughout the Bowie County, TX, region. Call (903) 792-6651 or visit their website to schedule an appointment today.