As your company grows and expands, you’ll eventually outgrow the accounting software you used to get you started. You’ll be ready for a sophisticated solution that will meet every aspect of your expanding business needs. Making the move towards a more comprehensive accounting solution is vital for those who are looking to borrow money from a lender or are ready to seek out Seed or Series A round investors.
It is crucial to choose the appropriate accounting software, but that’s only the beginning. It’s time to make sure that you implement the right way. These nine steps can aid your company in achieving an effective outcome from your implementation of accounting software.
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1. Set Clear Expectations
When you choose accounting software that is new the likelihood is that you’ll be focusing on new or improved features. You often forget the features your current software does well and what your new system will do. It could cause you to be less than thrilled with the system you recently purchased.
While your current and older systems might not work the same way, you should let your vendor know what key capabilities or features you are searching for in your accounting* software.
2. It’s written
Certain conditions are demanded by your organization for the accounting software that is coming out. For instance, what kinds of reports, or other outputs will your team employ? Do you have to provide investors or other stakeholders with data visualizations that can be more useful than endless rows of numbers?
You’ll be able list your requirements in the event that you have an RFP that you created as part the software selection process. But even if you didn’t, it’s critical to state those requirements in writing before the implementation begins. This ensures that both you and your supplier are in agreement on the services you’re getting.
Avoid making too many changes because they could increase the cost and can make maintenance difficult. If you need lots of modifications, you may need to reconsider your decision!)
3. Choose a project champion or Working Group
Implementing new software is an initiative that involves everyone in the business. You will need an individual or a small group to act as project champion. The project champion is the one who leads the effort on your side to ensure that the project is on track and is able to get everyone’s approval.
No matter if your project’s coordinator is an individual or working group, make sure you choose team members who have an established capability to work across functional lines with the authority to take decision-making regarding the software’s deployment, the time to own tracking of the project’s progress against the plan, and the desire to be involved in continued communication about the project as well as with the software vendor.
4. Create a project plan that is shared
In order to ensure the success of your implementation of accounting* software, a carefully-planned project plan is essential. This plan will guide you in the implementation of the software correctly, on-time, and within your budget.
While the vendor can be the primary person in developing a plan draft, however, you should include your team’s input into the plan in order to ensure you all agree on what constitutes “success.” As instance, if you need certain dashboards but your plan doesn’t include it as a project stage–you’ll be following a plan that takes you in the wrong direction.
Even if the final product is a spreadsheet, the project plan should include milestones, deliverables, and deadlines. It should also assign assignments to different people. After the plan has agreed to, all involved need be aware of the roles and responsibilities of each participant. Your vendor and you should keep the plan updated and keep track of your performance.
5. Develop a plan for keeping the Everyday Work in Progress
The majority of companies assign the task of overseeing the implementation of an accounting* system to employees who are already proficient in accounting* work. They are your best experts on this task. Implementing a process can be lengthy and could make it difficult for staff members to fulfill their accounting* tasks.
Some businesses outsourcing their accounting work to a trusted third party while their internal staff focuses on the implementation and gaining knowledge about the latest features and capabilities. This way of working ensures that daily accounting tasks continue done in a timely manner and on time. It also relieves some of the pressure off your team.
6. Preparing Your Books for the Transition
If a new accounting software introduction is on the horizon in the near future, it’s tempting to not be focused on keeping the day-to-day work going smoothly while you shift your attention and attention to the new system. The last thing you want to do is transfer bad data to a new accounting* system.
You want clean, scrubbed records to start with. But trying to do this while also keeping up with the daily accounting* work and oversee the software implementation can be overwhelming.
Make it a priority to keep all your records up-to-date in the current accounting* system and make sure to reconcile them fully prior to making the move. You’ll be ready to begin the transition to new software with clean records if you have your books in good order.
7. Make Enough Time for Testing
As you nearer your goal, the more tempting it may be to get through the remainder of the process speedily, especially if you’ve encountered problems and are eagerly moving to the latest Accounting Software Implementation. However, if you skip the testingprocess, you’ll regret it in the future.
Every user of the system should take part in the testing of the accounting software. This includes examining every feature and function you will use, as well as those you may use in the future. It’s a long and tedious process but one that you shouldn’t be able to rush.
8. Don’t cut corners when it comes to training
It’s not enough just to teach accounting software. You must be able to use it in a manner that your business uses it. If your team is only trained in one way to create a purchase orders (PO) and there are customers who need an alternative PO, it won’t be much aid.
Before training begins Make sure to consider the different scenarios and combinations your team will require training on. Be sure to have a mix of hands-on, live sessions and details that the users of the system are able to access at their leisure. Video tutorials are especially effective as they allow you to connect with the new system visually and emotionally. It is best to have the training conducted by an accountant* and not an engineer.
Just as your accounting* software training should be simple to understand be sure that your system’s documentation is easy for your staff to access. Written documents that are long and lengthy aren’t more effective or useful than material that is broken down into smaller pieces and has visuals.
9. Plan for Post-Implementation
A robust post-go live plan is as vital as your initial preparation for the implementation. It’s when you’ll discuss any issues that remain unanswered or were not considered when you set your requirements for the project. This is also an opportunity to examine your current procedures and determine whether they require to be changed in order to make use of the program to its maximum potential and not come up with solutions to the system.
Planning for post-implementation ahead time–both within your internal team and your accounting software provider–puts everyone on the same page. They are in agreement that your system will not be flawless, but there is a solution-focused team ready to resolve any issues. Employees’ frustration can be diminished and their worries eased by knowing there’s an action plan to support post-implementation.
Scrubbed can assist you in making the shift to an accounting* system that’s more robust for your business. Scrubbed has assisted many companies to determine their accounting requirements, analyze various options in software and verify that the system will be compatible with their existing processes.
We also provide software implementation support, take the burden of your daily accounting tasks while your team works on the implementation, and also prepare your books to transition.
Scrubbed’s accounting and finance specialists can assist you with the switch to more robust software. *