While accounting processes and financial management operations are seemingly different activities, they are also related. Many businesses, including those in the steel and metals industry, use accounting information to evaluate the fiscal health of their enterprise. Most often by moving information from accounting software into spreadsheets for analysis. Though these processes are different, you don’t need different software programs to manage the accounting and financial activities of your business.
Commonly used accounting software, such as QuickBooks, can be an adequate tool for basic accounting processes. You can manage income and expenses, invoices, bank activities and other standard accounting processes. Unfortunately, most accounting software has limitations in the number of users that can be in the system at once, as well as the volume and type of data it can collect. Supplementing this system with spreadsheets isn’t efficient or necessarily accurate.
Steel service centers, metal fabricators, coil slitters and others in the steel and metals industry have more complicated financial needs, including managing the profitability for certain projects or manufacturing operations. Financial management of this nature is often outside the realm of standard accounting software and elaborate spreadsheets. This doesn’t mean you need more software, it means you need the right software.
Take Control of Complicated Accounting, Financial Processes with RealSTEEL
RealSTEEL is different; it was designed specifically to address the challenges facing companies in this industry sector. With RealSTEEL, you have powerful accounting and financial management functionality, while gaining greater control over production, inventory, purchasing and sales and warehouse operations. In a single, integrated solution, you can manage common accounting operations such as tracking income and expenses, alongside more complicated financial processes like monitoring operational or customer project budgets and profit margins.
RealSTEEL also provides:
- Tiered Customer Hierarchy
- Advanced Credit Management
- Visibility to Product Profitability
- Job Costing by Sales Order Line and Lot
- Freight Cost Tracking
- Rebate Management
- Surcharge Management
- Document Management
- Business Intelligence Reporting
Don’t waste any more time trying to work around inadequate accounting software—deploy the technology that works the way you work without complicated and costly customizations. RealSTEEL integrates your data, providing overall management of your accounting and financial activities in one centralized solution. With your data in one spot, you can be confident that you are making the best data-based financial decisions in the interest of your business and your customers. Contact The Wolcott Group for more information about simplifying accounting and financial processes with RealSTEEL.
By The Wolcott Group, providers of RealSTEEL, a ‘real world’ solution for the steel and metals industry.