3 Tips for Growth with Saasu Online Accounting
February 7, 2017 by Scott Whitaker
Building a small business is a constant balancing act to find the best combination of resources to grow. Getting the most out of Saasu as your online accounting system means understanding how you can squeeze value out to reduce costs across your business and grow. Here are some of our favourite tips that will help your business.
In business you are what you don't automate. The routine daily tasks that don't seem to take long add up to be a large chunk of your workday. Saasu is designed to automate a lot of these things to free up your time. As a user here are some of the short cuts I take to automate my day:
- Bulk print invoices: On the sales or purchases pages you can use the tick boxes on the left hand side to select multiple invoices and then click on Print to print them all at once.
- Flag follow ups: Instead of searching for things that I had written on a since lost PostIt note I use the Requires Follow Up tick box on the bottom right of my Edit Sale/Purchase page. By ticking this and saving the invoice a small flag icon will display on the Sales/Purchases page so I can follow up later.
- Recurring Statements: These help to automate your Accounts Receivable making life easier. You can find more about creating these here.
Integrations save time, simple as that. They allow you to take advantage of multiple systems without the need to continually move data between them. Here are some useful integrations that are quick and easy to set up and will save you a lot of time:
- Online Payments
Saasu integrates with a number of online payment gateways including PayPal, Eway, Braintree, Stripe and BPay so you can accept credit card payments, cut down on your outstanding accounts receivable and cut down on the time you spend chasing late payments. You can learn how to add these to your invoices here.
Link4 is a great e-invoicing solution that allows you to quickly and easily accept invoices from other platforms without the need for manual data entry. You can find out more about them here.
Measure twice, cut once
In business you can't improve what you can't measure. This is especially true for small businesses that need quick information to make quick changes and keep up with their industry. Saasu is a financial reporting app at its heart with a number of reports that help you with your strategy.
- Profit and Loss Summary Advanced
- BAS Summary
The profit and loss summary is one of the most useful reports in your arsenal. Not just because it shows you how much money you have made but because it allows you to compare periods and harnesses the power of tags.
Year on year comparisons are very powerful in accounting as the show true growth (cutting out seasonal variations). By comparing August this year to August last year you can see a clear image of your progress.
Tags are a way to supercharge this. The consistent use of tags to identify segments within your business and compare these. Tagged all wholesale transactions? You can use this report to compare this specific segment of your business over time. Identify growth areas and focus your resources to make the most of this.
This is the one report that seems to be only used every three months, but should be used a lot more. Why? Because falling behind on tax obligations is one of the most common reasons for small businesses to fail. Keep on top of tax by running this report more often and setting aside funds to make a payment when needed rather then being caught by surprise.