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 As the system has aged and become outdated, users may have built work-arounds to make up for the lack of features.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.

Jayme Poole has been at Red Wing Software since June, 2014 as a member of the support team. I talked to Jayme to see how she likes being a part of Red Wing Software so far, and to learn a little more about her.

What do you like most about working at Red Wing Software?

I love the fact that it is my job to help customers get their problem solved. To know that when I am done with a call, I have just helped someone find an answer to their problem.

What do you like to do outside of work?

In my spare time, my favorite thing to do is spend time with my family and friends! I have two kids, a son named Jackson who is nine, and a daughter Jaydea who is seven. Also, my boyfriend Brian has a son Collin who is twelve. They keep us very busy! When we are able to get out, we like to go to friends’ houses and socialize. I also coach volleyball for youth girls when time allows, unfortunately this year I had to take off due to a busy home life. I am looking forward to getting back to it next year!

Red Wing Software will implement the requirements for reporting applicable to employer-sponsored coverage for the Affordable Care Act (ACA) in the first half of 2015. CenterPoint Payroll will allow you to track all the information you need to complete the 1095-C and 1094-C forms for your organization, as well as the reporting requirements for the employee W-2 form.

Several years ago we wrote the blog post: Ten Signs Your Company is Ready for an Inventory Management System. Are you still trying to get by without an inventory management system? Well, here’s further proof that inventory management software can help your business.

In a recent report released by Forrest Burnson at Software Advice, a digital consultancy, there is evidence that theft can be prevented with the use of an inventory management system. Having done a comprehensive study*, here are the key findings they came up with:

1. Twenty-eight percent of employees whose stores use inventory management software say internal theft is a problem, compared to 37 percent of those whose stores use other methods for managing inventory.
2. Fifteen percent of employees whose stores use inventory management software admit to stealing from their store, versus 22 percent of employees whose stores use other methods.
3. Only 37 percent of small “mom and pop” stores are using inventory management software, versus 53 percent of local and regional retail chains and 85 percent of national retail chains surveyed.



I had the opportunity to ask Forrest some questions about this report, and he weighed in on the subject for Red Wing Software customers. Here’s what he had to say.

• Question:

  Does inventory management software actually deter theft?

• Answer:

  “While a computer program won't necessarily deter employee theft, it will give you the resources to ensure that your inventory is properly accounted for. When your inventory is properly accounted for on a consistent basis, there's less of a chance that bad behavior will be able to fly under the radar.”



• Question:

  What kind of business can benefit the most from moving to inventory management?

• Answer

  “Regardless of what kind of business you have, it's important to protect your assets. From small businesses to larger enterprises, every company can benefit from implementing inventory management software. As you can see in the below graphic from our report, at least 60% of respondents from each type of store see employee theft as a problem to some degree. Using this software is an easy way to give you a better sense of security."


• Question:

  What is the most significant improvement businesses experience when moving from paper and pencil to inventory management software?

• Answer:

  "It's important for item-based small business owners to realize that while inventory management software might seem unnecessary or time-consuming to maintain, it will actually save you time—and money—in the long run. It increases your inventory visibility by standardizing your records and it can help you identify where shrinkage is occurring when you perform cycle counts."

Researcher Bio



Forrest Burnson is a Market Research Associate at Software Advice, where he covers the construction, inventory management and supply chain markets. He graduated in 2011 from the University of the South with a degree in political science and French studies. In 2013, he graduated from the University of Texas with a master’s degree in journalism. During his second year of graduate school, Forrest was a fellow for News21.

Prior to joining Software Advice, he was a writer and researcher for Global Water Intelligence. He has also written for a number of other outlets, including the Texas Tribune, the Austin Business Journal, Market News International and the Austin American-Statesman.




*To find the data in the mentioned report, Software Advice conducted a seven-day online survey of six questions, and gathered 385 responses from random retail employees within the United States. All survey questionnaires undergo an internal peer review process to ensure clarity in wording. If you have comments or would like to obtain access to any of the charts above, please contact forrest@softwareadvice.com.