Codestone

Category: Accounting & Financial Software

Small businesses that invest in accounting software solutions will find that the business benefits they experience will justify the initial outlay.

Business author Gwen Moran suggested financial software as one of the top ten investments company owners should make in order to improve their growth and revenue generation capabilities, as well as their capacity to make informed decisions.

She noted in a recent Entrepreneur magazine column that organising a company's books is "critical" to success, as it can help firms to avoid being hit by penalties such as late-payment fees and finance charges.

Her view was echoed by Jennifer Crews, founder of the business consulting firm Pearl Advisory Partners, who told Ms Moran that accounting software can make it easier for firms to take advantage of early-payment discounts.

"You'll also keep your credit history sterling, which can help when negotiating for better terms with vendors and rates on loans and lines of credit," according to Ms Crews.

Last month, IT expert Pam Baker told SmallBusinessComputing.com that accounting software can simplify complex taxation issues for company owners.

Posted by Lara Ward