Codestone

Category: Accounting & Financial Software

Small business owners have been reminded of the essential role that accounting software can play in helping them to keep on top of their financial responsibilities.

Rhonda Abrams, president of business publication company The Planning Shop, told USA Today that managing money should be considered just as important as generating profits by entrepreneurs.

She highlighted financial software as a key part of this process, as systems of this kind can make keeping track of finances far easier than manual methods, as well as allowing businesses to examine trends and make projections.

Other advice offered by Ms Abrams include ensuring bills and invoices are dealt with on time, keeping a reserve of money aside from major deals and limiting the credit offered to individual clients.

"A few simple steps and you'll be on your way to an excellent credit rating, a great relationship with a bank and a good night's sleep," she said.

This comes after accountancy expert and author Karla Dennis told Entrepreneur magazine last month that accounting software can help to eliminate avoidable tax filing errors.

Posted by Jamie Rees