The Information Technology (IT) services industry is constantly changing, as technology continues to change at a rapid pace. As IT business owners navigate these changes, the ability to innovate is becoming increasingly important. IT business owners often don’t have time to properly run their IT business—let alone find sufficient time to handle administrative tasks like bookkeeping. How then, can IT professionals deliver better value for their business? The answer is simple: adopt simple accounting software to let software complete the tasks that you can’t stand (or have time to do). Here’s how you can start: 1. Move Your Accounting to the Cloud IT professionals understand the growing importance of online, cloud-based systems. After all, they are in the IT sector to begin with. By going digital with your accounting, you are essentially moving every aspect of your financials to the cloud for better safekeeping, better accessibility, and better visibility. Moving your accounting to the cloud allows IT business owners to access their business financial data while on-the-go as they manage their busy schedules and changing priorities. Do it in TrulySmall Accounting Moving your business financials to the cloud lets IT business owners stay in touch with their data from anywhere. Rather than letting your data sit in Excel or random documents scattered in the office, TrulySmall Accounting uses machine learning to learn your business in order to manage your bookkeeping the smart way—and quite literally. When you connect your bank account to TS accounting, we’ll sync and categorize all of your transactions in 5 minutes or less. The best part? You can access all these functions from anywhere. 2. Smart Invoicing to Optimize Cash Flow With so little time in a day and too many tasks to juggle, IT business owners can benefit in many ways with the help of smart invoicing. Smart invoicing starts with moving away from traditional means of invoicing and storage, such as excel spreadsheets, word documents, or storing receipts in old wallets and shoeboxes. Instead, let accounting software help deliver better business value by keeping track of all your invoices on the cloud—and matching them to payments when those transactions are received. Knowing which clients are late to pay and by how much can provide business owners with cash flow understanding, as well as whether or not the financial status seen in your reports and accounts are truly accurate and current. Do it in TrulySmall Accounting Invoicing is easy in TrulySmall Accounting. Send invoices to new or recurring customers in seconds and easily track these customers and each of their profitability from the “Contacts” section of the dashboard. Under “Invoices” to the left navigation bar, business owners can view all pending invoices, paid invoices, current invoices, as well as a toggle for those that are past due—which is key to applying quick corrective actions. Easily view invoices to discover late payments and to act quickly to ensure positive cash flow. Another way that TrulySmall Accounting can save time on the invoicing process is the ability to search by Supplier Name, or keywords in the search bar to locate an invoice quickly. 3. Intuitive Dashboard to Make Sense of Real-Time Data The ability to understand the numbers associated with your business is crucial to making informed decisions. Real-time data illustrations (like graphs and pie charts) can save IT business owners hours in their day when attempting to understand their IT business. After a busy day of managing teams and deadlines, developing innovative solutions, and meeting with clients and partners, the last thing business owners want is to spend the final hours of their day rummaging through documents and data to understand how their business is doing. Instead, they likely want a quick way to view their business’s financials at a glance—and they want to know that the data they’re viewing is easily accessible from anywhere and is populated in real-time to ensure they’re viewing accurate numbers. After all, error-filled or outdated numbers lead to false predictions of cash flow, which can be detrimental to decision-making. Do it in TrulySmall Accounting TS Accounting’s visual dashboard demonstrates to IT business owners how their business is doing this very second. Once transactions are synced to TS Accounting and have been sorted and posted, TS Accounting analyzes this data using machine learning and provides you other tools like Optical Character Recognition (OCR) for receipts and invoices to transactions. Under “Dashboard,” real-time graphs and charts are available for business owners to view important numbers like income vs. expense, net income, top expenses, as well as account balances. And all your reporting under the “Reports” section will be up-to-date with your latest bank information and provide all the data you need to make smarter business decisions. You can see the date that the numbers have been updated on the bottom right corner to provide further peace of mind that these numbers are real-time and accurate. Start Saving Hours on Admin & Have More Time For Innovating With demanding schedules, changing priorities, and the added pressure of having to innovate to stay ahead, IT business owners need to spend their time on what really matters. And that often isn’t accounting. To deliver better business value, adopt accounting software today (for free) to start saving hours on admin and spend more time on innovating—whether that’s a new idea, methodology, or product to do things better.
