Business Accounting Software

The Problem

Often times when we are faced with a difficult decision, the best answer to our dilemma is the most obvious answer. The one that seems the most simple in form. The answer that we convince ourselves can't possibly be the right choice, just because it's too apparent.

My name is Greg Cook. I'm a CPA. A big part of my business involves helping business owners and managers solve problems. You would think that the bigger the problem the more complex the solution, but that's not always true.

One problem that comes up often is the fact that decision makers don't have fast access to critical information they need in order to make a good, informed decision. This usually surfaces after-the-fact.

The Answer

Good business accounting software in place, with a good knowledgeable user operating it, can provide owners and managers with the information that is critical to make a decision 30, 60 or 90 days out. Historical data is worth it's weight in gold when it comes to trying to predict future events.

A few years ago I had the opportunity to work with a restaurant owner that was having problems. A quick analysis of his operations shocked him. His best selling item on the menu was losing money every dish he served.

After our analysis he was afraid to take action. His choices were obvious. He had to either drop the item from his menu (unthinkable because it was the most popular) or raise the price. We came up with a couple of alternatives; he could reduce the portion, drop the side items or charge extra for them, or decrease the amount of a costly ingredient.

Why was this item the most popular on the menu? Probably the value perceived by the customer.

The Business Accounting Software Solution

With some inexpensive software in place, an hour per day from a qualified person entering data and a little time to get historical data, the owner was able to get a handle on things. Not having the information you need to make good decisions is not an option.