Entering into the world of business accounting is no trifling feat, especially when your skills, passion and business couldn’t be further removed from the world of balance sheets and invoices. As such, it can sometimes be a stretch to expect surf shop proprietors, electricians, or café owners to be supremely efficient in the art of abacus.
Yet virtually every small business owner will be unavoidably tasked with the grim necessity of running a tight financial ship, held to the mercy of dark arts such as reporting, payroll, banking, invoicing and tax requirements. This can be daunting and if not done right, result in a larger problem for the business.
To remedy this affliction of fiscal reality, the world has turned away from reams of printer paper and excel spreadsheets that would happily rival the dimensions of a bedspread, toward a user friendly suite of fit-for-purpose accounting apps and software products.
From the early clunkier forms we have seen, the current breed of tools refine, simplify and automate to the point where very little accounting knowledge is required to bang out the common tasks required of a business. Each year, improvements in functionality, mobility, ease of use, add-ons and an ever simpler user experience have resulted in a set of indispensable business tools small businesses and sole traders require.
How Reckon One relieves the burden of accounting
Your choice of accounting solution should always reflect your business’s needs, budget and purpose. You should be paying the absolute minimum for what you need, avoiding unnecessary functions for simplicity and also ensuring there are options to expand functionality as your business gathers pace. It should be of course be easy, mobile and reliable as well.
Nicole Ruigrok, the owner of Each Peach, who had never run a business before and was just starting up her tailored clothing business, sums it up nicely when noting one of the most useful benefits of a popular option, Reckon One – a home screen which displays your current financial situation in a single snapshot.
At a glance, she can now gain an overview of her finances and better understand her cash flow. One look at the home screen whilst riding the elevator and she knows exactly where she stands in the big picture, in real time.
These insights have proved invaluable in the early stages of her business. “It’s really easy to use and gives me peace of mind that I’m properly managing my finances with minimal time and effort,” Nicole said.
With no accounting or financial background, there’s a small learning curve to understand the core concepts of business accounting and reporting, but with the support of her bookkeeper, she was able to became familiar with the different components of Reckon One in just a few hours.
It wasn’t long before Nicole was able to monitor her cash flow, manage budgets and undertake reporting and bank reconciliations with ease.
“I never have problems balancing which is very satisfying. I am freeing myself up to spend time doing what I love – sewing,” she concluded.
Painters excel at painting, photographers excel at photography, and bakers excel at baking. Reckon One helps you focus on taking your skills and passion to the market without having to masquerade as an amateur bookkeeper as well.
If you are a small business owner who didn’t intend on doubling as an accountant, click here to get a free trial of Reckon One.