How to Account for Inaccurate Reporting
One of the reasons it takes so long to close a period is because you are constantly waiting: waiting for inventory, waiting for cc transactions, and reconciling these divisions takes a long time–especially if you have multiple divisions.
Question to Ask
1. Are you using multiple spreadsheets?
2. How long is it taking to close the books each period?
3. Do you have real-time reporting dashboards?
What we can do
The solution to any of these problems is a full integration with an ERP system. When using an ERP system, there is no need for multiple spreadsheets as your data is readily available. Anyone in your business can have data access. Think about it: with a full-blown ERP system, you control all of your costing, inventory, and invoicing, which impacts your profits and loss.
With real-time accounting, you get accurate, up-to-date numbers. You don’t need to wait until the end of the month to get updates.
Lastly, if you are not using real-time reporting dashboards—you need to start. Real-time dashboards provide visibility of company-wide accounting information to people outside your accounting department.
MIE Trak Pro is an end-to-end enterprise resource planning system that seamlessly integrates all business processes from the warehouse to the front office and even to the boss’s mobile device. Everything from the robust architecture, to the massive suite of customizable tools, to the intuitive user interface is designed to maximize efficiency and agility across your entire enterprise. Where other ERP systems fail, MIE Trak Pro delivers proven, revenue-generating results. Contact us here to request a demo and learn more about how we can help you grow your business.