Using an accounting system that can′t handle your business needs can be detrimental to the growth of your business. Check out these three myths about accounting software and see if your business is being held back.

Myth 1: It′s better to stay with my current accounting system than spend time and money on something new.

It may be tempting to stick with the accounting program your business has been using for many years. Moving to a new system takes time and effort, and it also means your accounting team will need to learn the new system. After many years of using the same system, users have likely become comfortable with it. As the system has aged and become outdated, users may have built work-arounds to make up for the lack of features. Because these work-arounds become habit, they don′t seem to be additional work, but in reality, there is likely a better way. Newer technology can eliminate work-arounds, eliminating manual work and reducing errors. Implementing a new system can help you provide better customer service, and can also help you increase profitability when you know where your profits are coming from.

Myth 2: All accounting systems offer basically the same features.

If you search for the term ‘accounting software’ you will find a multitude of systems available. You can be sure that none of those systems are exactly the same. All accounting systems offer a unique set of features. If you are working with a system that does not contain the features your business needs to operate efficiently, you are holding your company back from growing. Imagine the time you could save by emailing invoices, importing bank transactions, or being able to manage two inventory locations. These are just a few of the accounting system features that can propel your business forward because of the time-savings. In-depth reporting can also make a difference to your bottom line. By seeing information relevant to your business, you can make adjustments to increase your profitability.

Myth 3: If the software is good enough, I won′t need support.

No matter how good a software system, support is extremely important. Using software without support can lead to confusion and costly mistakes. The software support team can help you learn new processes and ways of doing things you may not have thought about, which can in turn help you streamline processes and increase revenue. They can answer any questions you have or help you solve problems. When you make a mistake and time is of the essence, you will be thankful to have a support person walk you through the process of fixing it, rather than guessing and getting it wrong. Indeed, support may just be the most important consideration for your software purchase.

Using an outdated software system or one that does not meet your business needs can hold your business back. Now that these myths have been busted, have a look at your system with fresh eyes and consider how you can grow by moving to something that fits your business better.

You can stay up-to-date with the latest product updates and utilities available for download by accessing them through the Red Wing Software web site. From our web site, you can view the latest list of enhancements for all CenterPoint products by selecting Downloads from the top menu and then choosing your product from the drop-down menu. Once you are on your products download page, you can then view the What's New documentation by clicking the link included in the Updates section of the page.

Customers with a current Customer Care Membership can also download the latest versions from the same location by logging in and clicking the Download Now link and following the on screen instructions.

If you would like to purchase a Customer Care Membership, please call 800-732-9464.

As I mentioned in the last newsletter, January was extremely busy in the office. Well, February seemed to be just as busy outside of the office. We had staff at several trade shows, and other staff taking our product training on the road. Among the venues that we attended included one of the largest trade shows under one roof. It was nearly a mile from one end to the other and included thousands of exhibitors. Check our web site for locations where we will be displaying or teaching our products, we would love to see you at one of the locations.

We had a chance to talk to many current and potential customers, and communicate the latest in what’s available in financial management software. One of the most interesting things I heard at the conference that I attended last week was the number of attendees that are still using outdated, obsolete, or antique hardware and software technology. (Yes, in some cases, systems that are over 20 years old.) That observation reinforced my belief in the importance of our role in keeping our customers informed about the latest technologies, and the importance of helping them keep their systems up-to-date.

One of our staff members made the comment; “Because of old technology, many people are just one computer burp away from losing all of their financial data history.” If you are in need of a technology checkup, please give us a call and let us help with your go-forward plans.

- Ken Hilton, President