Statistics show that 80 percent of small business failure is due to poor cash flow management. With that being said accurate accounting has never been more important for mechanical workshop owners. Integrated accounting with your mechanical workshop software removes the common frustrations faced by workshop owners during the accounting process.
Here’s why integrated accounting is now essential for mechanical workshops:
What is integrated accounting
Integrated accounting is the process of combining your business accounting to your workshop management software.
The benefit of integrated accounting is all your financial information is instantly synced from program to program – creating a seamless data transition.
Why is integrated accounting so beneficial for mechanical workshops?
As a mechanic your primary focus is to service and repair vehicles and provide exceptional service; accounting should be an easy task that gives you the peace of mind of knowing that everything is running smoothly.
Slash administration time:
How long do you normally spend recording invoices and receipts and assigning them to the correct invoice in your accounting system? This process wastes time and decreases your workshop efficiency. Integrated instantly syncs all financial from one program to the either.
Integrated accounting eliminates the need to use multiple manual programs or processes to record, manage and input different types of financial data giving you further time to focus on growing your workshop.
It’s very easy to make a mistake inputting financial data when going between two systems. Before you know it, you could enter a wrong amount, quantity of assigned something to the wrong location. This will result in you needing to pay further accountant or bookkeeper fees to resolve.
Integrating your accounting with your workshop management software removes all manual administration tasks that result in errors. The system instantly allocated the financial information to the correct location in your accounting system – instantly removing the risk of common error.
Slash accounting costs:
If you fail to accurately manage your costs, you may find yourself in a cashflow hole. Integrated accounting will ultimately lower your accounting expenses - creating greater profit for your business.
Many workshop accountantcharge clients per hour. If your business uses multiple systems or paper systems to record financial information, you could end up paying so much more for your accountant or bookkeeper then you really need to.
Without integrated accounting your accountant or bookkeeper will be required transition from program to program to find the information they need. The problem with this is that it takes a time.
With Integrated accounting your accountant will be able to instantly locate and perform their duties without the hassle of going between two programs and searching for the information they need – the less time your accountant needs the less you will have to pay!
We hope you enjoyed this post. To read more of our news and tips visit our blog here .
How can Workshop Mate help?
Workshop Mate by Jeal is a simple and adaptable mechanical workshop software that provides instant solutions to the biggest frustrations faced by mechanics today.
Workshop Mate provides workshops with automated quotes, invoicing, barcoding, parts inventory, customer reminders, service history, job allocation and tracking, integrated accounting, and more! Everything you need to run your workshop seamlessly.
Unlimited Users at one fixed cost, Fast and Easy Data Import and No new installations.
Call us on 1300 473 744 or click the button below to start your 14-day free trial of Workshop Mate.