Can Your Accounting Software Make Running Your Business Easier?

Running a business is hard enough without your accounting system (or lack thereof) making it harder. Whether you need to track sales, manage cash flow, or figure out whether you can afford that new equipment, your accounting system plays a central role.

The right system helps you stay organized and becomes a decision-making tool that supports your business growth goals.

So, can your business accounting software make your life easier? Absolutely. But only if you select, implement, and use it with intention.

person using accounting software on laptop

Photo by Austin Distel on Unsplash

What Your Accounting Software Should Do

Business owners tend to think of an accounting system as a recordkeeper, but it can be a lot more. Your accounting software should provide:

  • Accurate, real-time financial data

  • Clear dashboards that show key metrics (like cash balance, receivables, and profit margins)

  • Automated workflows for invoicing, bill pay, payroll, and bank reconciliations

  • Easy collaboration with your accountant, outsourced CFO, and tax advisor

If your current system isn’t doing these things, you’re probably wasting time and making decisions with incomplete information.

Signs Your Accounting System Is Holding You Back

Here are a few red flags that indicate it's time for a change:

  • You’re still using spreadsheets or desktop software that only one person can access

  • You have to chase down receipts, invoices, expense reports, or bank statements to close the books

  • It takes more than 15 days after month-end to get financial reports

  • You can’t quickly answer basic questions like: 'What’s our net income this month?' or 'How much do we owe vendors?'

These are more than annoyances. They’re signals that your accounting system doesn't really support your business operations.

The ROI of a Better Accounting Setup

If you're using spreadsheets or desktop accounting software, switching to cloud accounting software like Xero or Sage Intacct can pay for itself in time savings alone.

Using integrated bank feeds and rules-based transaction categorization reduces time spent on monthly bookkeeping tasks, reduces manual errors, and improves cash flow visibility so you can plan with confidence instead of reacting to surprises.

But beyond the numbers, a reliable accounting system reduces friction across departments. Sales and operations can invoice faster. Leaders can budget accurately. Investors and lenders can trust your reporting, giving you more options for financing growth.

Choosing the Right Tools

Once you decide it's time for new accounting software, how do you find the best accounting software for you? There’s no one-size-fits-all system. Your decision depends on the size of your business, how complex your financial transactions are, industry-specific needs (like inventory tracking or job costing), and the skill level of your team. For example, if you have an in-house bookkeeper, you'll need a system that works for them. If you outsource all of your accounting, user-friendly options might be less of a concern.

Most small and midsize businesses benefit from a setup that includes:

  • A general ledger and core accounting tasks

  • Integrated payroll

  • Bill pay

  • Expense tracking

  • Forecasting and budgeting

  • Integration with e-commerce platforms like Shopify or Amazon (when necessary)

  • Sales tax compliance support

You don't necessarily need all of these features in one platform. One of the benefits of cloud accounting software is it integrates with other tools and apps. For example, Xero and Gusto work together as an integrated accounting and payroll solution. And if you use BILL for accounts payable and accounts receivable, it syncs with all of the leading small business accounting software platforms, including Xero.

A good accounting partner can help you build a right-sized tech stack. No bloat, just tools that work well together and support your goals.

Why System Design Matters

Even the best software won’t solve poor processes. Thoughtfully setting up your accounting software means tailoring the chart of accounts to your operations, creating automation rules that follow your actual workflows, and designing reports for decision-making, not just compliance.

When everything’s working as it should, you’ll be able to answer questions like:

  • Are we pricing our services correctly?

  • Is it time to hire, or should we hold off?

  • Which products or services are most profitable?

You’ll be able to answer these questions with data you trust rather than a gut feeling or guesswork.

Let's Make Your Accounting Work for You

The right accounting system makes running your business easier and helps you work smarter by giving you a clear picture of where you are today and a foundation for making confident decisions about tomorrow.

If your system is getting in the way, it’s time to fix that.

At Slate, we help business owners select and implement cloud accounting software that supports the business's financial health. Whether you need to clean up your books, choose the right tools, or make better financial decisions, we can help.

Contact Slate today to start building an accounting system that actually works for your business.

Advisory ServicesJustin Thomsenaccounting software