The simplest way to manage your micro business

Whether you are just starting out or you are looking for better ways to manage your existing micro business, one of the key factors to making it a success is to manage your business financials and track your business health. Nominal Accounting Software makes it super simple for businesses with up to 5 employees to stay on track.

Accounting is a fact of life for any micro/small business, whether you’re a contractor that bills to one customer on a weekly basis, or you’re in retail and need to keep track of the profitability of different products or the conversion rate of your online store. Each micro business is different and yet they have the same financial needs.

There are various ways and means to keeping your financials in order such as;

1) Pen and paper; The dollar cost is very low but at the same time it is complex and time consuming. Wouldn’t time be better spent working ON your small business?

2) The Shoe Box; All documents, invoices, receipts are collected and then sent off to your accountant. This is probably one of the most expensive ways to do your accounting and it fails to give you any insight to your business.

3) Desktop accounting software; Such as the well known MYOB or QuickBooks. They usually require some kind of training to begin using them or at least a basic understanding of accounting concepts.

4) Online accounting software; Such as Saasu, Xero and many others are available today. The usually have higher ongoing costs and that they lack a lot of the functionality that is available in other desktop solutions.

5) Outsourced bookkeeper; Similar to the shoebox option – it makes it simpler for you but costs more and provides you with less insight into the workings of your own business.

6) In-house bookkeeper; The cost of a full-time or part-time employee comes with the highest costs and is probably an over kill for most small businesses.

So what is the answer? No business can run efficiently without any kind of bookkeeping and Nominal Accounting Software offers a unique accounting program specifically designed with micro businesses in mind, unlike other products that target businesses of all sizes.

The desktop software helps you manage all aspects of your business including:

1) Time Billing; bill customers for time spent, multiple rates and costs, easy to fill timesheet which automatically generates an invoice.

2) PayPal Accounting; integrate your PayPal account, auto create invoices, purchases and payments, account for PayPal fees and transfers.

3) Integration with all your online systems (Freshbooks/Harvest-invoicing, SalesForce/SugarCRM/Highrise-CRM, Magento/ZenCart/VirtueMart-shopping carts and Google – contacts)

4) Invoicing Customers; choose and customise an invoice template (reinforcing your brand), bill for time, print and email invoices, record credit notes.

5) Paying Vendors; record receipt of items, enter and pay bills.

6) Tracking Inventory; manage your item list, adjust physical count and inventory values, adjust prices and costings.

7) Managing Cash and Bank Accounts; spending money, making deposits, transferring money, working with register and reconciling accounts.

8) Paying Employees; setting up payroll, paying employees, editing, printing and emailing payslips and recording payroll liabilities.

9) Preparing Financial Reports; producing reports, customising reports; scheduling and emailing reports.

10) SBR Standard business reporting; using the NEW Australian Government interface, Nominal Accounting is also the FIRST and ONLY small business accounting software that allows you to submit your Business Activity Statement and Tax File Number declaration forms from within the accounting software.

11) Business Dashboard that allows you to view multiple KPIs, such sales over time, average sale, as well as Facebook Feeds, Twitter mentions, Twitter followers over time and your Google Analytics stats.

Nominal Accounting Software helps you to track the health of your business at a glance with monthly, quarterly & yearly reports, so you can make decisions in real time to benefit your business.

If the shoebox is full then it’s time to look at another way to keep your finances on track! Nominal Small Business Accounting Software brings the greatest insights to your business as well as the simplicity that is required by the micro business owner.

Nominal Accounting offers a simple and complete accounting software package that is easy for small businesses to use. For more information visit us at www.nominal.com.au

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