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3 Signs It’s Time to Upgrade Your Business Accounting Software

Eventually, every growing business comes to the realization they need new business accounting software.  As revenues and expenses grow, inputting data into Excel can quickly become a gigantic hassle. All of these tedious tasks take away time your accounting team could instead spend on reviewing new strategic investments. But how do you know it’s time for a new business accounting software system? It all starts with a simple conversation. Spend just a little bit of time going through your CFO or controller’s day-to-day schedule and you should quickly get a sense of whether it’s time for a new business accounting…
Patrick McAteer
November 12, 2020
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Three Nonprofit Accounting Challenges to Look Out For

Nonprofit accounting flips the public’s perception of the field of accounting on its head.  Unlike accounting at for-profit companies, where tasks are fairly routine and issues typically have precedent, nonprofit accounting varies greatly from year to year and even day to day. Much of this volatility can be traced back to sources of funding. Whereas accountants at for-profit companies can usually make relatively accurate predictions of future income based on past results, nonprofit accounting teams are somewhat limited given the unpredictable nature of fundraising.  Of course, uncertain income streams are only one challenge nonprofit accounting teams face on any given…
Patrick McAteer
October 29, 2020
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Bring in More Donors with these Non Profit KPIs

Investors demand transparency. If you’re the leader of an organization that serves the greater good and you aren’t able to provide investors with non profit KPIs, it might be time to rethink your approach.  It’s possible your organization is well established and has a set way of operating that just doesn’t include churning out raw numbers. Or maybe your accounting software isn’t able to quickly generate the non profit KPIs donors demand. No matter what your circumstances are, know this: Modern donors will not donate to an organization without proof it can and will deliver on its promises.  We have…
Patrick McAteer
October 22, 2020
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Three Accounting Software Selection Questions

No two businesses are the same. And so it shouldn’t be surprising no two accounting software selection processes are the same, either.  It’s challenging enough to decide on a new accounting software vendor. Determining what features and services your company needs only adds an additional layer of uncertainty. Ultimately, the final decision your company makes should come down to pain points experienced across the organization. As your company embarks on the accounting software selection process, ask yourself the following questions. 1. Who will be using the accounting software and where will they be using it?  User licenses are one of…
Patrick McAteer
October 15, 2020
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3 Covid-19 ERP Implementation Challenges

Most of us have gotten used to working from home since the start of the Covid-19 pandemic in March. It’s certainly not ideal, but most companies and employees are making it work—those who are working on ERP implementation projects, included. But the need for IT upgrades hasn’t simply disappeared with teammates being away from the office. In fact, access to cutting edge analytics and integration between various systems is arguably more important now than it ever has been. One way to meet these new needs is the implementation of a cloud ERP system that houses all of your company’s systems…
Patrick McAteer
October 8, 2020
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Three Big Covid-19 Accounting Challenges

It’s exceedingly difficult to confront all of your company’s accounting challenges each day when the business environment itself is far from normal.  Since the beginning of March, companies across the country have experienced levels of disruption we have not seen since the Great Depression. Accounting teams have, in many cases, bore the brunt of the slowdown. There simply isn’t a playbook for accountants to follow whenever accounting challenges arise.  Now that six months have passed since the start of the pandemic, we have a better understanding of the primary accounting challenges teams at businesses across the countries are facing. Here…
Patrick McAteer
October 1, 2020
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Why Cloud-based Accounting is a Game Changer

Everyone seems to be talking about “the cloud” these days. One term you may not be familiar with, however, is cloud-based accounting. What was once strictly Silicon Valley lingo has quickly become mainstream as software companies seek to remain competitive by building cloud-based computing solutions of their own. Accounting software companies have started to build their own cloud-based programs, and they’re starting to revolutionize the way accounting departments work.  Should your company consider upgrading to a cloud-based accounting software? If you’re still unsure, consider some of the following benefits they offer. 1. No Need to Be in the Office Most of…
Patrick McAteer
September 22, 2020
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Start Your Software Selection Process Here

More often than not, companies fail to ask the following question until it’s too late: Do we have a software selection process?  We’ve mentioned in the past how quickly business software can become out of date and slow your company down. But when the time comes to replace their old software, many companies find themselves in a pinch. There are just too many options out there to consider and a limited number of hours in the day.  As is the case with all of the other systems within your business, you need to have a routinized software selection process. The…
Patrick McAteer
September 16, 2020
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Don’t Lose Track of Your Fixed Assets

Your company’s fixed assets are one of its most important resources. They help your company generate revenue and can prove valuable when it comes time for your company to pay its taxes. How are you keeping track of them? If you aren’t already, it’s time to start thinking about it. After purchasing a new fixed asset, your company has two options. Your accounting team can either write off the entire purchase cost of the asset that year or write it off over is expected lifetime value. It may sound easier to simply write off the purchase during the year of…
Patrick McAteer
September 9, 2020
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We Have A Solution for Your ERP Implementation Issues

Your company’s management team is dead set on purchasing a new ERP system. They’ve begun compiling a list of potential vendors and have started looking at just how big of a project they can fit into the company budget. Everything seemed to be going smoothly until, suddenly, an executive asks: “Do we know what the ERP implementation process looks like?” Change is never easy. Employees become used to their daily routines. Business processes shift from being best practices to “the way our company has always done business.” The ERP implementation process is no different. The benefits of the new system are…
Patrick McAteer
September 3, 2020
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