Excellium

Accounting Software

I am Tired…

Rita, my old friend from secondary school almost burst out in tears as we were speaking on the phone. “Chi, I can’t keep track of my finances and I keep losing track of time to do other important things, what do I do?” As the CEO of a medium-scale fashion industry business, Rita knows she needs help managing her finances. From invoicing, to calculating taxes, to reporting, she is saddled with a lot and desperately needs help figuring out how to manage her finances and business processes but prefers to handle her business operations manually. This came as a surprise to me; the Rita that I knew back in the day did not look like she could be overwhelmed with work. To me, she had everything figured out, but now, it hurt me to listen to her breakdown over the phone, and I was determined to ensure that a solution was proffered for her concerns. I thought long and hard about what to do… Alas! It struck me! I remember attending to a young patient of mine who was rushed into the hospital due to High Blood Pressure. It was a concern for me as a medical doctor because she is young. I knew something was wrong so, during the routine consultation, I probed further to know how she got there. She explained how she lost a huge amount of money in her business because there was no structure in place to help manage her business’s accounting. She could not easily raise and track invoices, track cash flow, accept payments, record transactions, automate business operations, and capture expenses. It was a big issue for her. As a business owner with a staff strength of 10, handling these operations was difficult, and it kept her late at night. Trying to manually record transactions in her businesses and constantly thinking about it affected her health. We talked for a while, she was treated, and she went home, only for her to show up for her next appointment looking fresher and prettier than the last time I saw her. I needed to know the secret, so I asked how she was fairing. She answered me smiling, “I am better now, Doctor Chi. I came across an online ad made by a company called Excellium. The advert was about a software solution, this solution helped my business and gave it structure.” I listened to her talk about all the interesting details this solution had, and I was glad that she felt better but I wanted to know more about this solution. The thought that the problems of businesses could weigh an individual down gave me so much reason to ask more questions. Then she mentioned the name of the solution, Sage Business Cloud Accounting. This affordable solution helped her easily create and track invoices, track cash flow, accept payments, record transactions, automate admin operations, and capture expenses. It was a game changer for her business, she said. Imagine going through the hassle of manually capturing expenses, and invoices, calculating taxes, reporting, monitoring cash flow, and budgets, and handling paper folders that house the names of suppliers, items, budgets, etc., only for them to be lost. Miss Shade spoke about this solution with so much trust and appreciation. Sage Business Cloud Accounting regularized her blood pressure and brought smiles to her face; She told me. I wanted that for Rita, my old school friend, and so I decided to give her a call at once to tell her all I had learned about this Solution. With the Sage Accounting Business Cloud Software Solution… You can: capture expenses as they happen take care of invoicing on the road bank at the office and manage cash flow from your home. perform insightful reporting calculate taxes easily check your cash flow capture the right quantity of inventory in and out keep track of your company’s performance against predefined targets keep fixed assets registered Check foreign exchange swings on items bought, and sold and their impact To prepare for the future, Miss shade says business owners should take into consideration unavoidable occurrences. “It is important to be set up with the right software solution from on-set, so you are not caught up in a challenging situation with your finances later”, she said. She talked about how many businesses in Nigeria do not outlive the owner and how businesses don’t last in Nigeria because most of them lack structure. Miss Shade has made up her mind to ensure her business has structure and lasts for generations. She is particular about setting the pace for structured business in Nigeria and would like other businesses to follow suit by adopting the right solutions like Sage business cloud, to suit her needs. She expresses her gratitude to Excellium, the company that introduced her to Sage Business Cloud Accounting Software. Now, Miss Shade can sleep peacefully because she rests assured that the right solution has been put in place to help her business processes. I would like you to enjoy comfort like Miss Shade and Rita and so I have decided to share this. To know more about and start your free trial with the Sage Business Cloud Accounting Software Solution. Please go to our product page on the website to learn more and click on the free trial link to begin.

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Wondering where all your money goes.

Ever wondered what keeps consuming the bulk of your finances in your business? Have you been able to find the culprit? Are you a business owner, and do you wonder on a daily basis how to keep track of your expenses? Are you always trying to figure out how funds invested in your business have frittered away, but you keep coming up with nothing? As a business owner, your company finances and operations should occasionally be reviewed to sustain your whole organization. You should be able to ask yourself where and how your finances are spent. This will help you identify if you need to cut down on some expenses, cut some payrolls or stop using outdated processes. I know you are wondering how this is possible but not to worry, we are here to help you no matter the size and type of your business. Here are 4 reasons why your business needs accounting software. · Manage inventory · Automate Manual Operations · Compute Tax easily · Work Faster Manage Inventory Accounting software helps you to put your inventory into an organized platform so that you can manage your business growth effectively. It has the capacity to combine multiple inventory factors without any error. Information such as item name, quantity, unit of measure, color variations, sizes, batches, and expiry dates are easily calculated and stored using accounting software. This can lead to efficiency and productivity in operations. Automate Manual Operations Accounting software helps businesses to track their accounting processes in an automated manner. It helps to eliminate manual tasks while operating your business and also assists your business to make its process delivery easier leading to the satisfaction of your stakeholders. Compute Tax Easily Accounting software helps businesses to manage tax liabilities. With accounting software, you can calculate your Value Added Tax (VAT) & Withholding Tax(WHT) payments and deductions. Accounting software helps you to manage your tax payments and prevents unnecessary delays and penalties. Work Faster Accounting software is built to help reduce your work time. Bookkeeping can take time when you manually track costs and revenue using a spreadsheet. Using spreadsheets like Microsoft Excel, require that you enter lots of information manually. Accounting software helps you save valuable time, so you can invest your time to grow your business. Here at Excellium, an authorized partner with Sage, Microsoft & Zoho, we have the right software solutions that can make your business operations easy and breezy. We help you develop effective corporate structures using the best software solutions tailored to suit your needs. These software solutions allow you to check things on the go. Need help handling your business operations, contact us now! We are readily waiting on you.

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4 signs that show you need to change your accounting software

As a smartphone user, has it ever crossed your mind to change your phone? Yes! Your camera might be outdated, you want a bigger phone, or the latest Android operating system or IOS is not supported on your phone. Just as changing your phones occasionally comes to us as a priority, business owners must regularly check whether their accounting software is performing their business tasks as it ought to. You might ask, how do I know if I need to change my accounting software? We have provided four signs to help you make your decision. Level of manual operations As a business owner, it is important to always check the tasks you spend most of your time. Are you spending much time daily on your accounting tasks? For example, if as a business owner you issue your invoices manually, then you need an accounting software pronto. Reconciliations can be a big headache for small businesses. If you constantly perform manual operations, you would be spending time trying to reconcile your figures to your accounting system. For example, Cakequeen, a small baking business sells products on their website, Instagram, WhatsApp, and in-store. The business usually records their sales orders on Excel. This causes problems in reconciling their sales orders, leading to stockouts. This can occur when Cakequeen’s different sales channels are not integrated with their accounting software. Do you have to constantly reconcile your accounting figures manually? Then you might need a software upgrade. Growing size of business operations When your business operations begin to expand, your current accounting software might be unable to accommodate some of your new business processes. This makes you spend more time trying to capture these processes manually. For example, you run a biscuit manufacturing company. As a startup, you might have outsourced your production. Alternatively, you were running your production schedules using a manual stock card. This could have allowed for your business to use a small online software to capture your invoices and pay your expenses. However, as your business grows, you are unable to capture your raw materials and finished inventory on your accounting system. This makes you to start losing track of your inventory, leading to multiple theft cases from your staff. You are also unable to get accurate reports making it difficult for your business to take important decisions. Integration of external applications Business usually require multiple applications to function effectively. These can include customer relations management (CRM) software, inventory management software, payroll software, manufacturing software, expense tracker, and other industry custom software applications. However, when the applications are connected, business processes are performed faster and seamlessly. A typical example is when a customer fills a form to purchase an item on your website, the form automatically inputs the customer’s name into your CRM, while also creating an invoice on your accounting software. This eliminates the process of tracking the customer’s order manually. Your accounting software should have integrations into your other applications to enable your business process flow seamlessly. Otherwise, you might need a switch. Multiple support issues Software applications help businesses to function effectively. Sometimes, these applications can have errors or bugs while trying to access a feature. Some other applications are too complicated. It takes some time to find where a feature is located. If you have a situation where your software application has too many support issues, then you might need to reconsider the application. Your accounting software should allow for ease and not delay of transactions. In Nigeria, many small businesses opt to substandard developers to make accounting software for them. After a period of using the software, problems begin to occur in accessing the software data. Your accounting software should provide your business with easy access to constantly monitoring your financial progress. This means that the software application should be up and running and possess an easy-to-use framework and process.

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