Currently, there are many vendors offering accounting software products with the lure of solving all business financial problems. One that can be an option because of its various advantages in solving accounting is an accounting software that has complete features which of course can be adapted to your type of business. Here we summarize tips for dealing with business financial management problems including:
1) Difficult to Track Profits and Losses
#Problem
The problem that is often found is not measuring business performance. The businessman does not know whether he is making a profit or a loss, whether the cash flow is a surplus or a deficit. It could be that the money obtained from the business is used more for personal needs so that it is not enough if it is used for capital expenditure again or is unable to pay for business operations. Then your business will close.
#Solution
You can view business performance and conditions in one dashboard by using Leukeun. Making it easier for you to see business conditions anytime and anywhere. In addition to the dashboard, you can also create complete financial reports, starting from balance sheets, cash flows, changes in capital, profit and loss, purchases and sales, to complete inventory reports. So there is no more difficulty in assessing your business performance.
2) Debt in Large Amounts
#Problem
For many business people, if the business lacks capital or has a profit deficit, the solution is to go into debt. And usually when a business borrows money, the amount is no joke. If you owe it to individuals, perhaps the issue of interest is not something to think about. However, if the lender is an official entity such as a bank and the installment payments are not current, then the pile of interest will increase and become increasingly difficult to pay. This also applies to business people who borrow money but are not good at circulating it so that it will still disrupt business.
#Solution
Now forgetting to pay debts and collect receivables will no longer happen if you use the contact list and invoice reminder features from Leukeun. With these two features you can set the maximum limit for customer receivables and payables to suppliers, thereby reducing the risk of uncollectible receivables or unpaid debts.
3) Not Having Good Bookkeeping and Reports
#Problem
Doing business is not just calculating expenses and income. It is not enough to assume that every money that comes in is income, money that goes out is a cost and the difference is considered a profit. Finance has a more complex system. Business people need to calculate profit and loss, make balance sheets, changes in capital, tidy cash flow, inventory data and so on. This is often considered a hassle because of the many processes that must be done. However, by keeping good books and financial reports, every transaction in business can be clearly identified.
#Solution
This hassle can be easily overcome by the financial report feature from Leukeun. You only need to record every transaction in Leukeun, and the system will prepare all financial reports in real time with more accurate data. You can also set recurring transactions, so that all transactions that occur repeatedly every month will be scheduled automatically, thereby saving more time and reducing the risk of errors in recording
4) Difficult Access to Financial Reports
#Problem
This is commonly experienced by business people who still use accounting applications offline. All data entered will be stored on a computer located in the office. So it will be difficult to access financial data whenever and wherever needed. Even though a businessman must know and monitor every movement and circulation of the financial flow of his business.
#Solution
You don’t have to wait for the end of the recording period to get reports on business performance. With Leukeun Accounting Cloud-based software that combines computers and the internet, you can carry out business activities anytime and anywhere with realtime data.
5) It is difficult to evaluate
#Problem
In the absence of clear financial management, business people will grope what is happening to their business. If you don’t know what’s going on and how things are progressing in the business, of course it will be difficult to evaluate. Yet this needs to be done. Because if an evaluation is not carried out, the problems that occur in a business will get bigger and more difficult to overcome. It is better to carry out routine evaluations, especially financial problems, both daily, weekly and monthly evaluations.
#Solution
Accounting presents complete, accurate and fast reports. You can view and monitor all transactions to evaluate and make the right business decisions. In addition, you can also find out where the mistakes are, so you can evaluate and make a more precise business plan.