Properties Magazine March 2017 : Page 46

VANTAGE POINT Experts weigh in on industry issues Don’t Shortcut Your Accounting Software Search T JIM KOMOS, CPA echnology, used well, saves time and money. But when the tech-nology solution doesn’t meet your needs or your organization’s abilities, it becomes a burden and source of ongoing frustration. So how do you get the benefits without the pain? It pays to put a little extra effort into the planning upfront. You should also discuss your options with your IT people and your accountant before you purchase accounting software. them in terms of what you want to do . Let your potential vendor determine what technology you need to accomplish it. Many construction/real estate com-panies buy accounting software and – even when the installation goes well – quickly grow frustrated when they don’t get the return on investment they’d expected. From an accounting perspec-tive, two of the primary implementation risks that contractors face are bad data and missed opportunities. All too often we see expensive accounting software packages underuti-lized or even not used at all. A major reason for this is that either the system does not really match the needs of the organization, the systems are too com-plex for the personnel assigned to use the software, or there are insufficient resources to properly set up the system and related processing. It is not uncom-mon for a well-run system to fall apart after a change in accounting personnel. To help minimize these problems it is important to begin the process with an inventory of your software. What do you have now that you want to continue to use and what functions would you like to add. When thinking of enhancements, define Clean up before you boot up You’ve probably heard that old tech adage, “garbage in, garbage out.” The “garbage” referred to is bad data. If inac-curate or garbled information goes into C 0 NF 1 D 3 NC 3  Here, it’s about more than just numbers. At Ciuni & Panichi, we take a personal approach to accounting and auditing. One that’s built on understanding and trust. When you work with us, you can  feel confident that you’ll get the highest level of attention. Most importantly, you’ll get expert guidance to help you achieve your definition of success. 216.831.7171 Ɣ cp-advisors.com 46 Where Relationships Count. Properties | March 2017

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