Updated: Aug 2, 2020
Small business owners said that bookkeeping was their least favorite task. However, most small business owners understand how important it is for their business -- It helps them manage finances, capture expenses/loss, track profitability, monitor cash flow, assess solvency, and a few benefits different.
The problem is that your employees may view accounting as just another task. For them, the numbers might seem arbitrary. Salespeople only care about sales. The technical department only cares about technical issues. Customer support only cares about customer complaints. How do you change this perception?
Here are 4 strategies you can implement right now to get them excited:
1. Make It a Habit of Sharing Visibility and Insights
It’s essential to share your business goals, priorities and performance with employees. You should also help employees understand the link between the priorities and their responsibilities.
For example one of your priorities may be to improve cash flow. To get your salesperson excited about this, you could show them – with helpful illustrations – how their sales and efforts to control sales costs – such as client meetings, food costs, and travel expenses – have contributed toward improved cash flow.
You can also use accounting software that allows for shared visibility of critical financial metrics; it's good to know how your business is doing.
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2. Set Clear Target:
To ensure employees are working toward common goals, link all specifics goal and share them with your employees.
For example, you could have a goal of increasing sales by X% with that sales teams need to get a certain amount of customers each month. Conversely, you decrease costs that involve every individual looking for more efficient cost savings on everything from meals and entertainment to office equipment.
Every individual on your team should have individual targets that ladder up to your business goals and recognition for significant contributions to those goals.
3. Business Accounting Software that Simplifies Accounting
Today you can invest in software that leverages to automate many of the repetitive accounting tasks your employees are facing. You can set up recurring invoices for clients who are on retainers, you can connect to your bank account for automatic income and expense classifications.
Be aware: not all software is created equal. There is software that requires you to train employees. The problem is that training involves a learning curve and it’s more likely they won’t use the software.
4. Fire up Your Team with Incentives
If you have a salesperson or team, this section is for you.
The company commission structure well, and you paid close attention to them. It was in your interest. The more sales you made for the company, the more money you made for me.
The key is to reward employees for performance, so they sustain that performance.
If you need advice or services on any aspect of bookkeeping, accounting and tax, our specialists are ready to help. Get in touch with us for free quote.