As your business expands and expands, you’ll eventually outgrow the accounting software that you employed to start. You’ll be prepared for a more advanced system that can meet the demands of your business that are growing. If you’re looking to borrow funds from an institution, or your company is looking for Series A or seed investors, you must upgrade to accounting software.
It is essential to select the correct accounting software. However, that’s just the beginning. Now you must ensure that the process is smooth. These nine tips can aid you and your business succeed with the implementation of your accounting software.
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1. Set Clear Expectations
It is more likely that you choose accounting software that has enhanced or added features before you decide. It’s easy to forget the features your current software does well , and what the new one can do. This can cause you to be unhappy with the new system you just bought.
While your brand new and older systems might not function in the same way, you must let your vendor know the most important features or functions you’re seeking in the accounting software you use.
2. It’s written
Certain specifications will be required by your company for the accounting software that is coming out. What kinds of reports and other outputs of data do you typically utilize in your company? Do you have the ability to provide investors and other users with data visualizations that are able to be utilized in a way that is more practical rather than infinite rows of numbers?
You’ll be able to write down your requirements if you have an RFP that was created as part of the selection process for software. Even if you didn’t need to express your requirements clearly in writing prior to implementing them. begin. This will ensure that you and your vendor are both on the same page about the services you’re getting.
Beware of too many modifications as they could increase the cost and can make maintenance challenging. It is possible reconsider your choice of the best solution if you need many customizations.
3. Choose a project leader or a working group
The process of implementing new software is an effort in collaboration that impacts all employees within the organization. It is necessary to have an individual or a small group to serve as the project’s champion. As the project’s champion ensure that everyone is on the same page , and the project is moving forward.
Whatever the case, whether your project’s champion is an individual, or a group of individuals make sure you choose team members who have demonstrated ability to collaborate across functional lines. They must have the power to make decisions about the software’s implementation. They should also be able to monitor the progress made against the plans and be able to relay information about the progress to vendors.
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4. Create a project plan that is shared
To ensure successful Accounting Software Implementation, a properly-designed project plan is crucial. The plan will assist you through the process of implementing the solution in a timely manner, to the right time, and within your budget.
While the vendor may be the one who develops the plan for you but you and your team must be involved in the draft plan. If you do not want certain dashboards but your plan doesn’t include it as a step in your project and you’ll be following an agenda that leads to the wrong path.
Even if the final product is a spreadsheet, your plan of work must include milestones, deliverables , and deadlines. It must also delegate the tasks to individuals. Everyone involved should be aware of the roles and responsibilities of each once the plan is agreed on. You and your vendor should maintain the plan and monitor your performance.
5. Plan to ensure that the daily tasks are on track
The majority of companies assign the task of implementing an accounting system to people who are already proficient in the accountingwork. They’re the best experts on this task. Implementing a system can be time-consuming and may make it challenging for employees to keep track of their accounting* tasks.
Certain companies outsourcing their accounting work to ensure that the internal team can concentrate on the implementation and education on the new functions. This will ensure that the accountingwork is done in a timely and precise manner, and also relieves some anxiety of your employees.
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6. Making Your Books to be ready for the transition
It is tempting to turn your attention towards the new system when the installation of a new accounting software is in the near future. It isn’t a good idea to move bad data into the new accounting software.
Clean, clear records are what you need to begin with. But, it could be difficult to manage the daily financial tasks and also manage the implementation of software.
Make sure your accounting records are up-to-date and complete prior to making the switch. It will be easier to begin your transition to a new system with clear data if your accounts are in good order.
7. Allow yourself plenty of time to try the test.
It’s tempting to hurry through the rest of the steps quicker when there’s been delays or people want to be on the latest accounting* software. It will be a mistake later on when you hurry through the testing.
Every user of the system should participate in the evaluation of the brand new accounting software. This includes examining every feature and function you’ll use in the future, and those you may use in the future. While it can be time-consuming, you should not rush.
8. Don’t cut corners when it comes to training
It’s not enough to instruct accounting software. It is essential to be able to utilize it in a manner that your business uses it. If your staff is taught one method to make a purchase order (PO), and there are customers who need an alternative PO, it won’t be much assistance.
Before you begin training, make sure to make time to identify the types of scenarios and combinations that your team is expected to understand. You should include a mix of live, hands-on sessions as well as the information that users of the system can access at any time. Video tutorials are especially effective because they let you be emotionally and visually connected to the system. It is recommended to have the course taught by an accountant*, not an engineer.
Training for your accounting software should be simple to comprehend and utilize. Written documents that are long and lengthy aren’t as effective or efficient as documents that are broken down into smaller pieces and has visuals.
9. Plan for Post-implementation
As crucial as the initial preparations for the implementation, a solid post-go live plan is just as crucial. This is the time to address any issues that remain unsolved or weren’t addressed during the initial plan. It’s also an opportunity to review your current procedures and determine whether they should be revised to allow you to use the program to its maximum potential, and not have to create solutions to the system.
It is crucial to prepare for post-implementation. It is best to work by your internal team and the accounting software vendor. This helps ensure all parties are on the same level. They’re all aware that this will not be an easy task however they have a team that is focused on finding solutions to resolve any issues. The stress of your staff can be lessened and worries lessened knowing there’s an approach to post-implementation support.
Scrubbed can assist you in making the switch to an accounting* system that is more reliable for your company. Scrubbed has assisted many companies to determine their accounting system requirements, assess the options for software, and verify that the software will integrate with the existing systems.
We also provide assistance with the software’s implementation. Our team will help you with your accounting tasks, whilst you and your team concentrate on the process of implementation. Prepare your books to transition.
Scrubbed’s accounting and finance experts can assist you in making the transition to more robust software. *