Let’s look at your small business accounting.I get it. You are starting out on this amazing adventure of giving your community a great place to bring their friends and family to come together. On top of all the added expenses, you now must figure out where to start with your back-office work. You can use a few methods to accomplish this goal.
- Do the work yourself
- Hire someone to work inhouse
- Outsource to a local bookkeeper
- Hire an outsourced managed accounting service.
What comes with a quickie program?There are many perks that come along with using quickie accounting programs. However, as you and your business grow, these programs lack the ability to give you a wealth of information. Referring to options 1 and 2, you must account for the cost of your time and the cost of paying the inhouse employee, in addition to the monthly fee for the program’s subscription. By using a quickie program to manager your back-office you still must input values daily to keep your expenses on track. Most of these quickie programs offer “integrations” with other services though, and you will most likely pay for those as well. The integrations into these quickie programs are generally not a full integration. Most generate a file that you upload into the quickie program, therefore, requiring manual work on your part, for both programs. Navrae however, reduces all these pains by offering a true integration and service as part of our standard package. We connect directly with your P.O.S., which allows us to grab all transactional information, and we store it directly on a secure cloud that you access through our web-based portal.
Outsource to a local book keeperLocal book keepers are great, and typically the standard choice for many when choosing a small business accounting option. While most require you to still utilize a quickie accounting program, their payment options range based upon time and services provided. Depending on the amount of services you request, your price tag for that work goes up. Still, you are getting a great value with their professional expertise. On a negative side though, they typically take clients whose businesses cover a wide spectrum. Navrae focuses solely on the hospitality industry, so we understand the areas of importance in your business.
What Navrae offers for your small business accounting.With quickie accounting programs, you only get one category to view your transaction data, and there’s typically no statistical information. Navrae not only offers you the ability to view subcategories of data, such as dine-in, take out, bar, retail or catering sales at individual locations, but we also allow users to compare one location to another. Our clients can also view transactions by type (cash, credit/debit card & gift card) and statistical data, such as number of guests, tables, and servers. By using quickie accounting programs, you are limited to one accounts payable account—everything goes into the same ledger. Navrae supports multiple accounts payable to divide food, utilities, employee reimbursements, company credit cards, etc. to easily keep track of expenses.
Data limitations? Seriously!?Why be limited in the amount of data you can export using a quickie accounting program when Navrae offers unlimited data exporting? Why let your data be limited between your multiple locations? Unlike quickie accounting programs, Navrae offers you unlimited data storage. Whether your company has 2-3 locations or 200-300 locations, Navrae can handle all your data.
Reports galore!Quickie accounting programs limit the reports you can generate to only those few pre-defined templates available. Navrae not only has pre-defined reports you’ll find useful, but we also offer you the ability to have a custom report built to fit your specific operational needs.
Navrae meets the standard General Accounting Practices requirementsIf you’ve ever been audited, you’ll know quickie accounting programs don’t stand up to the test. In Navrae, transactional data cannot be falsified, has the details needed to meet any auditor’s requirements, and meets standard General Accounting Practices (GAP) requirements. Why not make getting audited as easy as it can be?
Schedule a Free Online Meeting to see how we can benefit you.