October 2017

Not Out for the Count: How a Bespoke CRM Can Ease Your Small Business’ Accounting Woes

We’ve all been there as small business owners: faced with invoices, ledgers and payments galore, it can get a little overwhelming keeping on top of accounting. You can at least rest assured that you’re not alone. Many small businesses find themselves struggling to juggle paying bills, chasing debtors and keeping a close eye on cash flow, all whilst trying to manage and grow a small business.

There is, however, another way – and it doesn’t mean paying your accountant extra to take all these woes off your hands, either. A bespoke CRM solution – built to your business’ needs and fluent in the tasks you want it to undertake – could be the accounting tool you’re looking for.

Scheduled Bliss

Knowing what money is coming in and going out of the company is a key duty of any business owner, but it’s not traditionally easy to envision without drawing up extensive spreadsheets or scrawling approximate dates down on paper.

By using a bespoke CRM’s scheduled payments feature, business owners can simplify the whole process. The feature creates and reports on scheduled payments for the coming year, allowing you to plan ahead financially and make better decisions as a result.

This is also made possible through the ledger-based system, allowing users to gain a financial snapshot of the business at any time, as well as calculating what’s owed and what’s due every month.

Get Paid on Time

One of the biggest accounting pain points for small business owners is undoubtedly getting paid on time. Being forced to chase clients for money will inevitable have a profound effect on your bottom line, and could lead to you being caught short when it comes to paying your own bills.

A bespoke CRM, however, can create invoices from within the system – and even better, it can chase after those invoices without the need for expensive external software or your team’s precious time.

Keep Up to Date

Apart from identifying what money is coming into the business and going out of it, owners also need to know where that money is being attributed to – which is where reconciliation comes in. Traditionally, this has been done manually or using expensive third party software.

The bespoke CRM tool instead reconciles commission statements against expected payments for you, ensuring finances are continuously kept up to date.

And the best thing is…

The accounting functions aren’t part of a separate tool at all: they’re included in the same fantastic bespoke CRM tool that helps with workflow and customer communication. Rather than having to pick and choose between different platforms, you’ll find all the answers in one place. Neat!

So, before you start to lose sleep over keeping up to date with your accounting, consider introducing a bespoke CRM solution into the business, and watch everything fall into place.
To find out more about Lunar CRM’s bespoke solution – or to book a free demo – simply get in touch and our team will be happy to help!