Planning and Set Up of Accounting Software for Your Business

Posted on: November 5, 2014

To achieve the most optimal performance from your accounting software, the planning and design of crucial financial components within the setup stage is extremely important and should be conducted in a structured, meticulous manner.

During the initial implementation, many tend to jump to establishing a chart of accounts and begin entering transactions without considering the desired or required end results which might include specific reporting or tracking/grouping key financial components, etc.  In order to develop the most efficient and effective structure of your accounting system, you should define your desired end product(s) first whether it be your actual financial statements, job costing reports, inventory reports, etc.

Once you have defined your desired end product, you can use features such as sub-accounts, sub-items, etc. to provide flexibility in your reports such as taking a summarized report and expanding it to the lowest level of detail or even a more mid-range level of detail in between.

Here at Crace Galvis McGrath we have professionals who have had many years of experience in assisting clients in achieving the most with their accounting systems and have QuickBooks ProAdvisors on staff.  We provide assistance in design, implementation, monitoring, and customization of accounting software within various industries.  If your business is in need of assistance, please give us a call.