AccountingSuite™ is helping small businesses leverage a new sector of the accounting software market with a solution that bridges the gap between entry-level solutions and ERPs. This new category of software—called PROP (Process and Resource Operation Planning)—provides businesses with the ability to create their operational infrastructure using a framework that is more specifically designed to meet the needs of small businesses than traditional accounting software.
AccountingSuite COO and co-founder Kurt Kunselman says small business owners want to focus on running their core business. “Small companies have a lot of moving components and their owners don’t want to be experts in accounting, logistics or other fields. For most small business owners, ERP solutions are too big and expensive."
On the other hand, Kunselman says many of them quickly outgrow the basic accounting modules of general ledger, reporting, accounts payable, and accounts receivable. "This is why we developed AccountingSuite, to help them bridge this gap and leverage the benefits of a more advanced PROP solution.”
Process and Resource Operation Planning (PROP) solutions satisfy more complex needs such as inventory, costing, eCommerce and multi-location operations. For example, each service truck can be treated as a location. PROP products provide more capabilities for small businesses than entry-level solutions but do not have as much sophistication as ERP solutions.
PROP Solutions Provide Advanced Financial Management Capabilities for Small Businesses
PROP accounting software solutions help businesses manage their operations more effectively by design instead of using third-party add-ons to traditional small business accounting software. PROP software assists with planning and tracking the resources used by a company in addition to the accounting functions that you are used to operating in Entry-Level accounting solutions.
While functions like General Ledger, Accounts Payable and Accounts Receivable still are pillars of the software, PROP solutions go beyond this by also offering inventory, costing and eCommerce modules. Plus, the best of these products helps manage cash effectively. Even without inventory needs, effectively handling deposits is a crucial feature of AccountingSuite that supports services-based businesses.
For example, AccountingSuite not only includes general ledger, reporting, accounts payable, and accounts receivable modules, but it also includes inventory, costing, and eCommerce modules and allows for multi-business reporting. This is beneficial for any business owner who has more than one business for which they need to compile and track financials comparatively.
“Small companies have a lot of moving parts and owners don’t want to be experts in accounting and logistics. They want to focus on running their business.” — Kurt Kunselman, COO & Co-founder, AccountingSuite
With an advanced PROP platform, you can track, monitor, and analyze multiple businesses in a single view. In addition, you can create powerful reports that align all of your chosen key performance indicators across all entities.
PROP Solutions also Create Efficiency in Inventory Management for Accountants and Business Owners
Inventory management needs usually are the critical feature that drives businesses out of traditional entry-level accounting solutions and into the PROP category. AccountingSuite includes complete inventory management capabilities, which allows users to keep track of stock levels, orders, sales, returns, and deliveries from anywhere at any time.
In addition, your team can reduce inefficiencies by leveraging effective operations management, lowering company overhead, and improving gross margins.
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