Tips To Improve Your Business Budgeting & Forecasting

Budget and forecast help you to make a business strategic plan. In this article, we will discuss how to improve your business budgeting and forecasting to achieve your business financial goals.

Few Tips to Improve Budgeting and Forecasting

• Keep Budgeting and Forecasting Flexible
• Implement Rolling Forecasts and Budgets
• Budget to Your Plan
• Communicate Early and Often
• Entire Team Involvement
• Be Clear About Your Goals
• Plan for Various Scenarios
• Include Profit and Cash Flow Goals
• Let Excel Go

Keep Budgeting and Forecasting Flexible

Always keep flexible business budgeting and forecasting. That helps you to provide a more accurate and best result for your business. If these things are not flexible, it may affect your business.

Implement Rolling Forecasts and Budgets

Based on the business performance result you can roll out the forecast and budget of your business. You should do the forecast for every quarter, not for the entire year. By doing like this you can able to adjust your business plan budget to improve the accuracy of your projections.

Budget to Plan

Initially make your business plan and then merge your budget to it. To make a budget plan you have to know the actual revenue.

 Communicate Early and Often

Forecasting and budgeting may affect the business’s every aspect. To minimize those issues you have to communicate with all departments and monitor their entire work process. Through this monitoring, you can make some alignment in your business operational and organizational strategies.

Entire Team Involvement

Team Effort is an important one in Budgeting and forecasting. Financial department people always predict accurate and realistic budget for business by using all department information. The entire team provides various perspective budgets that explain how the business is going and how the business could be in the future.

Be Clear About Your Goals

Forecast’s main purpose is to predict the business’s financial future. Based on the forecast, you can able to decide by understanding the previous process implementation’s impacts. If you are clear about your business goal, then you can accurately predict the business’s financial future.

Plan for Various Scenarios

You have to review the external market and economic trends that may affect the business. For this purpose, you have to roll out the forecast to stay on the top.

Include Profit and Cash Flow Goals

In budgeting and forecasting, you have to include the profit and cash flow goals. These two metrics should be tracked for decision making.

Let Excel Go

Excel and spreadsheets are not the most reliable source to do budget and forecast. Just Go for Singapore Accounting Software.

These are the few tips to improve your business budgeting and forecasting. For further details, Visit us userbasicsoftware.com

Time Tracking Software Improves SMB Accounting Productivity

Small business people had made some outsourcing in the area of accounting and finance due to the development of new technologies and software products. By outsourcing, they feel that we can control costs, improve productivity, minimizes the risks and business objectives achieved rapidly.

For the following beyond areas, small business owners outsource their product and service. Those are

• Accounts payable
• Accounts Receivable
• Payroll accounting

Time Tracking Software

Time tracking software is the most important human resource tool for SMEs. Through the time tracking software employees can easily track their timesheet and managers can able to analyze and track the employee’s productivity levels.

Time Tracking Software Benefits

• Measures employee performance
• Improve performance reviews
• Assessing appropriate staffing levels
• Improve employee’s performance

Measures Employee Performance

Through this software, business owners can able to identify how employees spent time on each project. Based on the employee performance report you can reward the high performing employee and that motivates other employees to perform high.

Enhance Performance Reviews

Employee’s productivity levels are measured by the manager. That can be easily compared to other employees and other groups.

Assessing Appropriate Staffing Levels

Through the time tracking software report, business people can able to control the payroll cost against week employee performance or inadequate staffing.

Improves Employee Performance

Through time tracking software, the employee can able to monitor them self. They can easily manage their time to complete their projects. In the time tracking system, they can able to set the performance goals, action list with necessary steps.

Finding the Best Time Tracking Software for Your Business

Each business is unique and different. So they need a unique set of time tracking features. Time tracking features have sore features such as

• Easy to use
• Able to generate comprehensive reports
• Mobile and GPS capabilities
• Able to generate employee alerts
• Able to generate reminders

We (User Basic Software) are the best accounting software provider in Singapore. We specialize in customizing the accounting software based on your business requirement. We also provide Quicken software, Payroll software, Retail POS software, Inventory software, Sage UBS Accounting Software, Sage UBS inventory software, etc. Are you looking for the best accounting software for your business? You are at the right place. To book your software demo schedule your meeting with us through call +65-6746 2613 or +65-6227 1797 (9 Lines) or Email us info@userbasicsoftware.com  It’s your time to get exciting offers!! Hurry up!!

Checklist For Choosing The Accounting Software For Your Business

 

In older days every business people track their financial transactions and manage their inventory level in notebooks. As technology grows business people start using the accounting software for business. Through the Singapore accounting software business people record their revenues, sales transactions and manage their inventory levels. And accounting software reduces human mistakes than comparing to paper accounting. Now various types of accounting software are available in the market. So you need some checklist to choose the accounting software for your business.

Checklist for choosing the accounting software for your business

Business Needs

Before purchasing the accounting software, you have to know your business needs and also consider your business needs

Features

To manage the financial transaction accounting software provides many features. By tracking financial information you can get clear pictures of your business performance. Most of the business owner prefers accounting software which is easy to use and saves time.

Time-saving Automation

Through the time-saving automation features, automatically you can send the recurring invoices and past due notifications. And it saves lots of time in invoicing and accounts receivable tasks. Though this feature you can convert your client quotes into invoices.

Tax Preparation

Accounting software provides some features to prepare tax.  Such features are automatic tax calculations, multiple tax rates, and tax reporting.

Add-on Services

Accounting software add-on services are payment processing and payroll services.  Through the add- on you can accept online invoice payment and pay the employee.

Third-Party Integrations

By using the accounting software you can integrate the third party software such as POS systems, payment processing, advanced inventory management, e-commerce, ERP, CRM, email marketing and Google apps to enhance the business growth.

Consider usability factors

While purchasing the accounting software for your business, you have to know where you are going to use this software. For that consider a few factors.

Multiuser Access

Most of the accounting software allows multiple users to access the business financial data.  For those users, you can provide restricted access. For this feature, you have to pay more for some accounting software.

Multi-Business Support

If you own multiple businesses you can use single accounting software to manage those businesses under one account.

Cloud-Based Software and Mobile Access    

In today’s business world most of the accounting software is cloud-based software which helps you to access your data from anywhere and anytime through the internet. So you can run your business remotely. Now mobile apps are available for business people to monitor their business.

These are the few checklists to choose the accounting software for your business. Are you looking for Singapore accounting software? You are at the right place. Reach us at  +65-6746 2613 or +65-6227 1797  or Email us at info@userbasicsoftware.com to book your software. Hurry up!!

Singapore Productivity Solutions Grant Software

A productivity solution grant helps the SME’s in Singapore to enhance the SME’s productivity. As of April 2019, Singaporean businesses are eligible for up to 70% off. For Annual Advanced plan, Singaporean business will eligible for up to 70% off and For Annual plus Plan, Singaporean business will be eligible for up to $5,600 off the total cost.

Are you having any doubt on Productivity solution grant? Contact our accounting software experts at +65-62271797 / +65-67462613 / SMS @ 9382 1959.

Looking to download a quote? You are in the right place. Get a quotation from Pre-approved ISP Provider. And create a CorpPass account to login the BGP Portal for application submission.

Frequently Asked Questions

What is Productivity Solution Grant?

The Productivity Solutions Grant (PSG) is composed by MTI’s Grants Management Office (GMO) and controlled by the applicable agencies, to help organizations in its transformation journey. Adjusted to the Industry Transformation Maps (ITMs), PSG offers support for the selection of IT solution and equipment that have been pre-perused by the enterprises’ lead agencies.

Who is supported under the PSG?

Small and Medium Enterprises are supported under the PSG. And Non-SMEs are not supported under PSG.

How do we say the applicant is local?

The Applicant should hold 30 % of ordinary shares. And the applicant should be Singaporean. Then we determine the applicant is local.

Why applicants have to be registered in Singapore?

Applicants who are registered in Singapore will be eligible for Productivity solution grant.

Can a company apply for a multiple PSG Grant?   

The company can subsequently apply for PSG grant. But the purchase of a solution should be deployed in a different location. If it is in the same location, then the PSG Grant will be rejected for the company.

What are the supportable costs?

Supportable cost is purchase/lease/hire purchase cost of the equipment or IT solution. And it doesn’t support administrative fees.

What is the process for applying for PSG?

• First, you have to contact the pre-approved provider to get the quotation
• Then you have to sign up for Corpas account. Using that login details sign in the business grant portal.
• Then you have to submit your application on the business grant portal

Are you looking for Pre-approved ISP vendor? User Basic Software Pte Ltd is one of the Pre-approved ISP vendors under PSG Grant. So you can buy your EZ Accounting and EZ Payroll software from us with up to 70% PSG Grant. It’s the right time to book your Singapore accounting software. Call us on +6562271797 / +6567462613 / SMS @ 9382 1959 to inquire.

Features Of Sage UBS Inventory Software

Sage UBS Inventory Software

Sage UBS Inventory Software is used to track and maintain the stocks immediately after every entry. This software is also called as Sage UBS Stock Control System. And this system function as an invoicing system.  Through this software, you can able to print the invoice and delivery order. The Effectiveness of this system has been improved by Extensive R&D. To improve this system, Bill of a material module is added as a feature.

In the Sage UBS Inventory Software, Stock valuation methods are provided. Such valuation methods are Fixed Cost, First In First Out (FIFO), Monthly Moving Average and Moving Average.  And to access the data, different levels of security are provided. Stock item can also be inserted as a picture.

This software is suitable for following Small  and medium companies such as

•   Retail Shop
•   Restaurant
•   Bar
•   Hospital
•   Hotel
•   Wholesales
•   Warehouse
•   Manufacturing Companies

Features of Sage UBS Inventory Software

•   By using this software you can able to track and maintain inventory movement of the company.
•   Through this software, you can able to control the multiple company transactions.
•   This software provides different levels of security for data access.
•   Through the unique serial code, you can simply track the stocks.
•   Multiple payment modes are available in the Sage UBS Inventory Software.
•   Real-time stocks are updated with receipt and issue of the item.
•   Multiple location entry and Item graded entry is available for the users.
•   Stock valuation method modules are provided. Those are Fixed Cost, Monthly Average, Moving Average, FIFO
•   This inventory software can be integrated with Singapore accounting software.
•   You can able to retrieve all the historical records

Reports

You can simply print the following reports such as

•   Delivery order
•   Invoice
•   Cash sale
•   Sales Order
•   Purchase Order
•   Debit note
•   Credit note
•   Reorder
•   Stock Cards
•   Stock aging reports

These are the features and benefits of Sage UBS inventory software.  Are you looking for the best accounting software for your business? You are at the right website. Book your software demo through the call: sales@onestopaccounting.com or email: 65-6746 2613 or 65-6227 1797  Hurry up!! It’s your time!!