8 Costly Mistakes Business Owners Make When Using New Accounting Software

Maricel Aringo
Jul 8
3 min read

Business owners can find themselves in a difficult situation when trying to switch over to new

accounting software. There are many mistakes that can be made, so it’s important to make sure you’re aware of them.

To help you out, we’re going to break down the 8 most common mistakes and what you need to do to avoid making them when using new accounting software.

1. Not getting enough training before they start using the new software

If you don’t get enough training on how to use the software, you’re going to run into problems. First of all, you won’t know how to take advantage of everything that’s available within it and this means it might be a waste of time and money. More importantly, you’d have a higher risk of making mistakes.

2. Not being aware of all features and how to use them

If you’re not aware of all the features that your new software has and how to use them, then

you won’t be in a position to make full use of the new system. You can avoid this by looking

through the appropriate manual or just taking advantage of any training that’s available.

3. Neglecting the importance of integration

If you’re not using accounting software that has integration, then you’re going to have a hard

time. Integration is necessary for connecting with your existing systems. It allows you to share data and information between the platforms without any hassle.

4. Not setting up user permissions

If you don’t set up user permissions, then anyone who has access to the system will be able to make changes. This could lead to people making mistakes or changing things that they’re not supposed to. It’s important to set up permissions so that only certain people have access to certain areas.

5. Not backing up data regularly

If you’re not backing up your data regularly, then you could lose it all if something happens to the system. This is a mistake that can be easily avoided by just setting up a regular backup schedule.

6. Failing to customise the system for their needs

It’s crucial to customize the new software for your specific needs. Otherwise, you’ll never be able to make full use of it, and this can lead to dissatisfaction with the software down the road.

7. Not taking a complete inventory of their current accounting processes

It’s important to go through your current accounting processes before the switchover so that you’re aware of how your team has been doing things. This gives you the chance to make adjustments and prepare for how things will change.

8. Not working with a professional implementation team & skipping the expertise of a professional accountant/Bookkeeper

To make the software implementation process a lot smoother and to avoid making any mistakes, it’s important that you work with a professional implementation team. These people have the experience needed to make your new software worth the while and to give you the best return on your software investment. Working closely with a professional implementation team. This will help you make changes more quickly and smoothly as well as ensure your employees are trained in how to use it effectively.

Reach Out for Help

Everyone deserves a supportive team of people who care. Cloud Bookkeeping Inc.’s team provides monthly bookkeeping and accurate financial reports. We’ll give you financial visibility throughout the year and deliver insights to make strategic business decisions