Most small to medium businesses, start out with a basic accounting system, which is understandable. However, as you gain more revenue and employees , it is important to have an ERP system like Microsoft Dynamics 365 Business Central to handle and contribute to your growth.
After all, an inefficient accounting system can be detrimental to business success.
Here are some key signs that your accounting system is negatively impacting your business
If you find that your costs aren’t being calculated properly with your current system, this could lead to discrepancies that can be a real strain on your business.
Not all accounting systems are made equal – if your accounting system isn’t performing at an adequate level, it could be time to update to a newer and more powerful system.
These days, accounting systems have moved beyond manual reporting. With systems like Microsoft Dynamics 365, you get a highly-automated way of making, sending and receiving reports in real-time.
Not accurately reporting stock levels is a clear sign that your accounting system is inefficient.
If your point of sale system isn’t connected to your accounting system, there is a lot more room for human error.
A clear ‘litmus test’ of an efficient accounting system is that it is easy to use and offers all the necessary functions in one place.
One of the main functions of an accounting system is to provide a holistic view of your business so that you can make clear and informed decisions. If your accounting system is only providing insights at a ‘micro-level’, you would benefit from implementing Microsoft Dynamics 365 Business Central.
Microsoft Dynamics 365 Business Central (formerly Navision) is the standard ERP system of choice for countless successful businesses. By providing a bird’s eye view of your business, Dynamics 365 can be a major contributor to your business’s growth.
As a Microsoft Certified Partner in ERP, Austral Dynamics can ensure that your business makes the most of Dynamics 365, through custom installation, consultancy, maintenance, training and support.