And for that, it takes reliable marketing. However, there are some business people who focus too much on marketing and escape other things that are no less important, namely financial management.
Finance is one of the important things that must be managed wisely for the survival of the company. If finances are not managed properly, income and expenses will not be controlled, so that it can cause bankruptcy. One that is managed in financial matters is capital.
Capital is not only charged at the beginning of starting a business but throughout the production and sales process, now and hereafter. Therefore capital must be recorded properly so that you know that the benefits received are in accordance with the costs incurred. Of course, it is difficult to record detailed and continuous capital calculations for each line. It is not recommended to make assumptions in financial management because it will only backfire for the business. So this is where the important role of accounting software can be relied upon.
With sophisticated systems and automated processes, data as complex and as much as anything is no longer a problem. You don’t need to enter data and process it again manually. This will only add to the hassles. Enter capital data and other financial information and let the accounting software process it into the various outputs that you need.
Problems In Financial Management That Often Occur In A Business
In addition to the previous explanation, there are various other problems that are often found among business people both small and large scale but can be solved using accounting software. Next Journal summarizes the problems and solutions provided when you use accounting software.
Overcome Business Financial Management Problems with Journal Accounting Software
Currently, there are many vendors offering accounting software products with the lure of solving all business financial problems. One that can be an option because of its various advantages in solving financial problems is the Journal. # 1 online accounting software in Indonesia has full features which of course can be adapted to your type of business.
a. Difficult to track advantages and disadvantages
A problem that is often found is that business performance is not measurable. Business people don’t know whether profit or loss, whether cash flow is surplus or deficit. It could be that the money obtained from businesses is used more for personal purposes so that it is not enough if capital expenditure is used again or unable to pay for business operations. Then your business will close.
You can see business performance and conditions in one dashboard in the Journal. Making it easier for you to see business conditions anytime and anywhere. In addition to the dashboard, you can also make complete financial statements ranging from balance sheets, cash flows, changes in capital, profit-loss, purchase-sales, to a complete inventory report. So there is no more difficulty in assessing the performance of your business.
b. Owe a lot
For many businesses, if the business lacks capital or a profit deficit, the solution is to owe. And usually when businesses borrow money, the amount is not kidding. If you owe it to individuals, maybe the problem of interest is not something to think about. However, if the loan is an official entity such as a bank and non-current payment installments, the interest pile will increase and more difficult to pay. This also applies to business people who borrow money but are not good at turning it around so that it will still interfere with business.
Now forgetting to pay debts and collecting accounts will not happen again if you use the contact list and invoice reminder features from the Journal. With these two features, you can set a maximum limit of customer receivables and debt to suppliers, thereby reducing the risk of uncollectible receivables or unpaid debt.
c. Do not Have Good Bookkeeping and Reports
Business is not just counting expenses and income. It is not enough to assume that every money coming in is income, money going out is a cost and the difference is considered profit. Finance has a more complex system. Business people need to calculate profit and loss, make a balance sheet, changes in capital, neat cash flow, inventory data and so forth. This is often considered troublesome because of the many processes that must be carried out. However, by making good books and financial reports, every transaction in the business can be clearly known.