Every salon should have a way of accounting for all its finances. Previously, to account for your business, you had to have physical ledgers where you would enter sales, expenses, and profits. However, the amount of paperwork that was involved was tedious and prone to errors. Currently, there are accounting software for small scale and large scale businesses.
It is important to note that clients seeking salon services want maximum comfort and ease. Customer needs have evolved, and clients even consider whether your business has software that can allow them to book online, pay online, or ask for consultation services remotely. If you intend to start a salon business, you should consider what your customers want. Ensure that you can offer whatever they need because at the end of the day, you will acquire more clients and profits. This article will cover some of the features you should look for when selecting a salon accounting software.
What You Will Learn In This Article?
In this article you will learn how to account all salon's finances by accounting software.
Jump To The Section You Like
- Features That Should Be Incorporated into Your Accounting Software
- How Do I Choose The Best Hair Salon Accounting Software?
Features That Should Be Incorporated into Your Accounting Software
Hair salon accounting is important. Here are some features that should always be part of your accounting software:
- Booking – Make sure that the benefits of salon accounting app you opt for include book clients online. The software should have an online calendar that shows clients days when you or an employee is available for scheduling.
- Payment - The application should allow clients to pay online since the traditional methods such as Visa and MasterCard can be inconvenient at times. It will then track all your daily sales and give you a figure at the end of the day.
- Loyalty reward systems - Have you been using punch cards and flyers to offer loyalty rewards to your customers? Am sure you already know how much work it can be. Most likely, you have dealt with clients who have lost their cards. With an accounting software for salon that incorporates a loyalty reward program, you will be offloaded the hard work of having to print out the cards. Similarly, you will not have to replace cards that have expired. Rewarding customers is one way of retaining them, so this feature is essential for salon businesses.
- CRM solution - As you go about choosing an accounting software, ensure it has a feature that allows you to track bookings, confirm availability, remind customers of their appointments, send them seasonal greetings, and check on those you have not seen in a long while.
How Do I Choose The Best Hair Salon Accounting Software?
Here are some of the factors you should consider before making your final buying decision on the best salon accounting software.
It is possible to get free software that can sort out some of the basic accounting needs of your salon. Before settling for the salon accounting software free, you should understand that it is generalised and is suitable for a large user base. However, if you would want to customise your software to suit your specific salon needs, then you should brace yourself to incur some cost. The premium paid for software can be annual or monthly, depending on your preference.
Consider Cloud Computed Applications
If you want to access your application remotely, you should consider using cloud computed business applications that are integrated with accounting software. With cloud computing, you only require a stable internet. Another advantage is the fact that these applications are mobile friendly. It is also interesting to note that you don’t have to go through the stress of software maintenance and upgrade. Most importantly, in case of accidents such as fires, you cannot lose your data.
Your Business Needs
Another factor you should consider before deciding on your ideal salon accounting software is the specific needs for your salon. Most softwares have basic features such as customer data, invoice statements, bank reconciliation, tax reporting systems, and the ability to create reports. If you need other features such as cost analysis, stock counting, and control, then you have to go for more specialised software.
How Well You Can Use the Software
It is easier to manage software you have used before with little to no training required. You should consider whether your accountant can use the application comfortably. Ask them for recommendations before buying new software for your salon. You can even ask them what software they have previously used and liked.
Is The Software Helping Your Business Grow?
It is not worth investing in software that will lead to losses for your salon. The software is only beneficial if the cost of accounting manually is more expensive in terms of time and effort. The software is also required if as a business person you have previously not managed to track your income. The software should not be costly and at the same time useless to your business. Make sure the features you pay for are important to your business.
Test the Software
Some companies allow you to test the salon software before you buy it. The trial version has some blocked functions or limited time for usage. You should only try out software if you are sure it is what you want because it can be tedious to install them. The main aim of the trial version is to acquaint the users with the software before they buy it.
Make Your Decision
Finally, after doing your research and maybe trying out the software, you will have to decide on the specific application that will suit your business. Don’t go for an application just because it is highly rated. Some of them might be ranked among the best applications, but they still fail to satisfy your business needs.
Salon businesses should have accounting software that suits their specific needs. Some of the key features to look out for include the ability to reward customers, good customer relation management application, payment options, online calendars for hairdresser bookkeeping, and the ability to book customers online. Before you settle for a single application, you should consider the cost, whether it meets your needs, the thoughts of your accountant, your experience, and whether the software has a trial version.
The impact of Information Technology (IT) on modern accounting systems
Accounting for software development costs and information asymmetry