Hello welcome to my presentation on Payment Methods in Sage Software. My name is Stephanie Davies and I’m the Managing Director of Pimbrook Software. Briefly, Pimbrook came about by the merge of two business partners Pim’s Business Systems and Brook Software Solutions. We’ve well over 17 years’ experience, now servicing thirteen hundred clients.
One of our commitments is to deliver exceptional customer service and we earned these awards for three years in a row due to that, so today I’d like to concentrate on Go Cardless in Sage 50.
What is GoCardless?
It is an integrated direct debit functionality for businesses who take recurring payments. So the research has looked at automated reconciliation – time is critical for businesses nowadays, so the more automation you can bring into your business the more successful it’s going to be.
Getting paid on time obviously speaks for itself. We all want to get the cash flow going but, what’s the biggest thing that we find that will help your business is getting your customers on board with you, so that you can receive those payments efficiently and quickly.
So let’s have a look, so in your Sage 50 now you have a direct debit manager, so we’re going to set up GoCardless for your business, so click on the setup now, you have an option to connect to an existing account or create a new one. For the purpose of this demo we’re going to create a new one, so you’re just have to pop in some basic details about your company and once you’ve completed that, your integration with the GoCardless account is completed successfully. So that’s your side done, so one last bit on the Sage side to complete, is going into Sage 50 and setting up those bank accounts that you want the monies to be populated into, and you have a couple of nominal codes there as well.
So the next thing is how do we get your customers on-board with you? So the most important thing is to get a mandate out to the customer. So we’ll select a customer to pop into it and put their details in there of the email address. So once that’s set up for your customer on your Sage 50, they will be given an invite, through the email to set up a direct debit to ensure that the recurring payments to you are made regularly. Once that’s completed and all monies start to transfer into your business, you can then go into the bank account and you’ll see where this auto update happens automatically. So again let’s recap on the benefits to both parties to you and your customer. Once your customer has signed the mandate you can schedule your payment dates flexibly and they will be told in advance when they’re going to pay yourselves. You as the business, will always get paid on time, the transactions are auto updated, so a reduction in the operations in the business and ideally you’re constantly getting paid so if you’ve got recurring payments. Please ensure you invest in GoCardless for your business.
I’ll leave some contact details on the screen there. Either contact Gavin or myself at either the Dublin or the Waterford office or get further information on pimbrook.ie.
No matter what line of business you’re in, the Accounts function is one of the most important aspects of your business. And even if you’re a non-accountant, it’s essential that you appreciate the power that accounts knowledge can give you– including how accounting software can revolutionise your business.
Depending on whose figures you believe, the SME sector in Ireland accounts for around 56% of the total turnover in the business economy, representing just under 50% of Gross Value Added.
These companies are involved in everything from manufacturing to software development, or from walking tours to pubs and restaurants. But two things link them all. Firstly, the need to understand how their businesses are performing, and secondly, the need to effectively manage their day-to-day account functions, anything from double entry bookkeeping to preparing a basic Profit & Loss Account.
For smaller companies, in particular, the idea for a new business often comes from either someone with a marketing background, or someone who has worked in a management role within their chosen field.
This means that very few of them are qualified accountants. And until the business is up and running for a year or two, it’s unlikely that they will be able to afford the luxury of a fulltime accountant or financial controller.
Despite this, however, invoices have to be issued, cash has to be collected and accounted for, VAT and tax have to be sorted – plus a whole host of other accounts-based tasks that are absolutely essential to the health and wellbeing of the company.
In this scenario, the owner or management team have a real problem on their hands. At least one of them will have to develop a working knowledge of the accounts function.
But in looking to do so, they can take heart from the fact that top-class accounting software is available to them at very affordable prices. Apart from the time-saving involved on repetitive functions like double entry bookkeeping, software like Sage 50c (formerly Sage 50) is full of handy features that will give them the management information they so desperately need. This can be anything from month-on-month invoice variations to debtor days.
All this is meat and drink to accounting software like Sage 50c. And while the time may come when the company needs to invest in a full-time Financial Controller, choice of the correct accounting software can postpone that day until the company is able to afford it. And even better news is that when you eventually hire a Financial Controller, there will be no need to change your software.
And no matter how little of an accountancy background you may have, you can still understand your business so much better via your accounting software. The main features of your package are explained in simple, non-accounts jargon . Remember, too, that there are practice and demo data section available to you that will you understand the different tools available.
Another benefit of this type of accounting software is that functions such as payroll or credit card processing are available to you as add-on modules, so as your business becomes more complex, you can keep pace with it.
So what else can a non-accountant get from his accounting software?
Well for starters, software like Sage 50c facilitates simple and accurate tax computations, This means that management know in advance what their tax liability will be, and can ensure that there are no nasty surprises that will impact negatively on cashflow.
Another benefit to non-accounts members of management from professional accounting software is that they have summary data on hand if they need to talk to their bankers about raising working capital, or perhaps seek private sector investment. The more information you have at your fingertips, the more professional and authoritative you’ll appear.
Also, because Sage 50c automatically deals with all aspects of double entry bookkeeping, it makes it that much easier to observe the workings of double entry. And until you get a firm grasp on this fundamental principle of any accounts function.
Another big plus of a suite of accounting software is that it will automatically spit out the reports that you need on a weekly or monthly basis if you are to genuinely stay on top of your business.
The most common of these are things like:
– Accounts Receivable (how much money is owed to you by your customers at any given moment)
– Accounts Payable (how much money you owe to your suppliers or creditors at any given moment)
– Sales (how much revenue you are generating from selling your goods or services)
– Purchases (raw materials for manufacturing or any other supplies that you buy on behalf of your business)
Even better news for non-accountants is that they can delve down into any of these reports to an almost limitless degree. For example, you could create one report for raw materials, and a separate report for other purchases such as packaging or even postage.
A further benefit to management with little or no accounts expertise is that their accounting software can offer them a greater level of security than manual, paper-based systems. And in many businesses, accounting data may often be sensitive in nature, so it’s comforting to know that it’s hosted in the cloud and offers multi-level security features that make it pretty much bullet-proof. Management can decide to restrict access to only a core team, significantly reducing the likelihood of theft or fraud.
It’s also worth pointing out that accounting software like Sage 50c is highly intuitive to use. And the more you use it, the more confident you become, which means that you’ll soon be looking to explore some of the more advanced features that can add so much to your company’s smooth running. If you can understand the inner workings of your digital TV service, then you definitely have enough ‘smarts’ to investigate the mechanics of your accounting software.
The bottom line is that, although you may initially just use it for simple functions like double entry bookkeeping, you will soon be using your software like a pro. And when the time comes when you eventually have a Financial controller on board, you’ll be well equipped with the accountancy grounding needed to converse with him in a meaningful way.
Sage 50 v24 introduces data matching rules for its users
Create and amend rules
View and approve transactions automatically generated based on the user created rules.
Hide nominal and bank accounts
Sage 50 v24 allows you to hide nominal and bank accounts from list screens and reports.
Just as easily as you can make your Customers inactive, Sage 50 v24 now has the option to make your bank accounts and nominal codes inactive which then gives you the option to hide them from view.
Go-Cardless integration
Version 24, is now integrated with GoCardless, a direct debit company. Whilst at the moment BACS and Faster Paying Service payments remain the key method for paying suppliers, it is estimated that the Direct Debit collection for consumer payments will grow 50% by the year 2025 (see report by UK Payment regarding UK payment forecasts and trends). Accordingly, businesses who collect payments by Direct Debit are already ahead of this curve. If customers are using the GoCardless platform for these payments, they can now have integration with this system and their Sage 50c Accounts software.
Improved payment runs which now exclude direct debit payments
Sage 50 v24 draws up the list of cheque and bank transfer payments to be generated by the software, by default suppliers will be excluded and marked to indicate that payments are made by direct debit.
Sage 50 version 24 New Features Includes:
Improved software performance
Show negative items on Invoices
Enter Invoice and payments together
Full transaction detail on most screens
Flexible Due dates on Invoices
Edit and Delete Journals
Un-allocate Transactions
Track Users changes to transactions
Drill Down on aged reporting
Get paid faster with Sage Pay Invoices (Subscription required)
New Look and feel makes easier to find tasks quickly
Will now work with up to 1.5 Million transactions
Automatic Backups protect your data
Allow your Accountant to connect to your data remotely
Use the software remotely as a connected user (Subscription required)
Vat Verification tool to make sure your VAT Information is up to date
Ready for new hardware and windows 10 operating system
Ability to see both values in a FX bank transfer.
Interested in Upgrading/Purchasing Sage 50 v24?
If you currently are not eligible for an upgrade to Sage 50c v24 and want to know if Sage 50c Accounts is for you, then please check out of Sage 50cproduct page.
If you are interested in upgrading your software to Sage 50c Accounts v24 then please email us onsales@pimbrook.ie with your company name and Sage serial number and we will happily get you a quote or If you’re not currently a Pimbrook Customer and wish to purchase one of the latest Sage 50 Accounts packages then please call us on 051 395 900 or 01 862 4016
Boost your productivity and free up valuable time with these three clever Sage 50 tips. By investing just a little time now in familiarising yourself with these areas, you will save a lot of time by automating recurring chores that can eat into your valuable time. It will also mean that you are making the most of your investment in Sage 50 Accounting Software (the latest version of which is known as Sage 50c).
Automate Those Time-Consuming VAT Returns with Sage 50
If you work in any field of commerce, you’ll know that VAT (Value Added Tax) is a tax charged by tax-registered companies on goods and services supplied.
As we write this blog, there are three different rates of VAT charges:
Standard 23% Reduced 13.5% Zero 0%
Unless you are operating under the Cash Accounting Scheme, you will pay VAT when you issue an invoice to your customer, or reclaim VAT when a supplier sends you an invoice.
VAT Cash Accounting is slightly different, and means that you only pay VAT to the Revenue when the customer actually pays that invoice you have issued. It allows businesses to protect or utilise VAT for cash flow reasons. In a nutshell, you only become liable for the VAT amount when you actually have it in your bank account.
As a business owner, you are obliged to be compliant at all times, and return the correct details to the Revenue within a specified deadline. Normally, you will be making these VAT return on either a two-monthly or a four-monthly basis.
If a company decides to carry out its VAT computations on a manual basis, not only does it take valuable time, but you are also open to basic human error. It’s amazing how a single error in addition can leave you grossly misrepresenting the amount of VAT due, which may result in your making an unnecessary over-payment, or worse still, under-paying Revenue and possibly leaving yourself open to interest or penalties.
With Sage 50 Accounting Software (Sage 50c), however, all this work is done for you – saving you a huge amount of time and effort. All the relevant transactions are populated into the VAT area of Sage 50 to produce the correct data for your return, and you can send it off to Revenue safe in the knowledge that it is 100% accurate every time.
Not only is this super-fast and super-efficient, but it also means that a simple but costly maths error is completely out of the question.
Sage 50 Accounting Software (Sage 50c) will also cope with transactions being entered after the cut-off date, so that it is included in the next return. All that reconciling and calculating is done for you, quickly and efficiently and without any input on your part.
And to finish off the entire process for you, it will produce the support reports and documents in PDF format. This means that you can save them safely and securely, and can always access them again should you need to through your VAT module in Sage 50 (Sage 50c).
It’s also worth pointing out that Revenue are also pushing all businesses away from paper submissions to online submissions. This obviously makes sense in terms of overall efficiency, and is in keeping with the move to automating everything through the ROS portal.
Sage 50 (Sage 50c) can not only help you to create the file, but will also automatically upload it to ROS on your behalf. It’s fast, it’s slick and it makes your business function that much more professionally.
File your RTD with Sage 50 Accounting Software
Following on from being a VAT registered company, you must also submit an annual Return of Trading Details form to Revenue. Effectively, this represents a summary of all your VAT trading activity.
The return is usually based around the company’s accounting period, and there are strict rules around the deadlines for these returns. It’s a task that could easily be overlooked, leading to potential penalties on the part of Revenue.
Sage 50 Accounting Software (Sage 50c) include rules around calculating these details, and you must ensure your system is set-up accordingly to record the data. Set-up is fairly simple and quick, and once you’ve done it once, you can forget about it thereafter.
Again, once you have this data recorded, it is easily transferred to Revenue via the ROS system. The whole system is fool-proof, and will save you a lot of time and energy, but more importantly than this, it will give you the peace of mind of knowing that your returns have been made on time – and completely accurately.
Bank Reconciliation via Sage 50 Accounting Software
Back in the bad old days, you started with your T-Accounts, balanced the books and then prepared your Bank Reconciliation, starting with your opening bank balance, unpresented items etc. and trying to get back to the closing accounts balance. Not alone was this very time-consuming, but if just a single item had been omitted, it could take you days to find the problem and arrive at a final reconciliation.
Thankfully, those days are well and truly over. Reconciling in Sage 50 Accounting Software (Sage 50c) couldn’t be simpler. It’s been reduced to just a tick and check exercise.
It boils down to matching your Sage 50 transactions to your bank statement. And you know that if you have paid all your suppliers, and received all your customer payments, you have the correct starting point for the reconciliation.
But what the Sage 50 Bank Reconciliation also points out very quickly to you is any missing transactions – such as bank charges. And to avoid any delay in the entering and reconciling of these items, you can create the charge while completing the Sage 50 reconciliation.
When it comes to the next reconciliation, all the items that have been previously reconciled are cleared from the list, and your last reconciled balance is brought forward. All the reconciled and unreconciled items can be saved and ready for any audit.
So there you have it – three simple ways to save time and energy – and increase your level of accuracy. So what are you waiting for – get cracking with Sage 50 Accounting Software, now known as Sage 50c.
Sage 50 Accounting Software can save valuable time and increase your productivity.
If you have any questions or specific requirements Email us now! or Call us on Tel: 051 395900
Sage 50 Accounts can save valuable time and increase your productivity with these 40 simple Sage 50 tips. By spending a short while getting familiar with them, you’ll make the most of your valuable accounting software, and free up time for more productive work on driving your business forward. And remember that if you’re new to Sage, the latest version of this award-winning software is known as Sage 50c. So with that, let’s get into our Top 40 Tips.
Sage 50 Accounts Top 40 Tips
Make the Most of Bank Feeds in Sage 50
Did you know that you can use bank feeds to download live bank transactions into your software? You can then compare them to your transactions in Sage 50, matching transactions and ensuring that nothing is missed.
Sage 50 – Reconciling your bank
Rely on Cloud Backup with Sage 50
We all love the security blanket of automatic cloud backup. It’s ultra-easy to back up your data to Microsoft OneDrive, so why not avail of it.
Emailing Your Invoices
Posting invoices in conventional format is costly and time-wasting, so why not email your invoices directly from Sage 50?
Drill Down Through Your Reports
It’s good to have a top-line report, but even better when you can drill down into the detail behind the big picture. Take advantage of this useful feature in Sage 50.
Microsoft Office 365 Help Centre
Sage 50 is linked to Microsoft Office 365*, and there is a dedicated Help Centre to address common Office 365 queries.
Sage 50
Schedule Your Backups in Advance
When using your accounting software, leaving backups to chance is crazy, so avail of the ability to schedule backups to run automatically in Sage 50. There’s no need to log out while doing so.
Sage Backup
Use the Check Data Feature
Running the Check Data option in Sage 50 lets you spot any issues and nip them in the bud on the spot. Run it regularly for extra peace of mind.
Don’t Forget the Shortcut Keys
When using the batch entry windows on your accounting software, F8 will delete a line while F6 will
copy the field above. These and other shortcuts can save you a whole heap of time.
Support and Training for Sage 50
Remember that Pimbrook offer extensive support and training on your accounting software, so don’t be afraid to use it!
Quick Print
You can print out your invoices from your accounting software with a single click by availing of the Print Invoices feature.
Press F1 for Help
We all run into problems now and again, but by pressing F1 for Help, you’ll get the answers to your problem right away.
Demo Data and Practice Data
If you’d like to experiment, your accounting software comes complete with dummy companies to help you do so.
Handling Recurring Entries
You can set up things like direct debits or standing orders as recurring entries in your accounting software, saving yourself a lot of time in the process.
Credit Invoice in a Single Click
If you want to generate a credit note on your accounting software based on the invoice you are crediting, there’s no need to re-key the information.
Capture Invoices & Receipts
You can take photos of your invoices & receipts and link to a transaction in Sage 50 with the Sage Capture app.
Adding Negative Values to Invoices
Not everyone knows that you can add negative values to your invoices with Sage 50.
Using Quick Search
You can use the Quick Search feature to find records without the need to create a full search or filter.
Transaction Detail
Using the View Transaction feature in your accounting software will give you a complete breakdown
of the transaction details.
Batch Reporting
Instead of running the same reports each month on an individual basis, why not run them as a batch instead?
View Users
If you need to know who’s logged in to your accounting software at any time, just click on the User List.
Using Analysis Fields
Use the custom fields in your accounting software to enter your own codes or references.
Quick Emailing
Did you know that you can email quotes, orders or invoices with a single click?
Configure Shortcuts – Function Keys
Sage 50 includes two shortcut keys that you can configure for whatever function you want.
Duplicate Option
The duplicate option can save you a lot of time and energy when you are creating a lot of records or invoices that are similar in format.
Batch Changes
Batch Changes is a great tool for when you want to change the same field on a multitude of records in your accounting software.
Handy Global Changes
Changing a financial value – such as a budget increase – can be done simply by using the Global Changes wizard.
Set up Price Lists
You can set up price lists for a product, a single customer or a group of customers.
Using Foreign Trader
With Sage 50, if you trade overseas, the Foreign Trader options are available as standard in the Professional and Client Manager versions.
Nominal Link Feature
If you use Sage 50 and Sage Payroll, why not link them simply by using the Nominal Link, which will automate the posting of salary journals.
File Import
If you have information that’s been produced in a different source, just use the Import option to access it quickly and easily in your accounting software.
Send to Excel
You can simply export your data to Microsoft Excel for simple reporting and management information.
PDF Passwords
In Sage 50, you have the ability to create letters or reports in a password-protected PDF format.
Reconciling Bank Accounts
Be aware of what’s in your bank account at any time by reconciling regularly.
Using the Lock Date
If you have finished reports and want to stop posting into previous months, just use the Lock Date feature in Sage 50.
Use Colour to Break up Lists
Using colour on alternate lines is a great way to help you stay on the correct line. Just click Tools, Options and Colours.
Archiving Your Data
Archives are a simple but handy way to create a helicopter view of your business performance.
Use the Favourite Function
Sage 50 has many reporting options, but some of them will be used by you time and again, so why not Favourite them to help find them more quickly next time you need them?
Layout Rename Description
If you want to change a layout description, all you have to do is right-click the description and click Change name and description.
Auto Updates
The Auto Update features means that your accounting software is always right up-to-date. Just click Tools then Internet Options, then select Automatic.
Sage Pay
Sage Pay, integrates with Sage 50 and is a brilliant way to make sure you’re paid on time – every time.
Sage 50cloud Accounts can save valuable time and increase your productivity.
If you have any questions or specific requirements Email us now! or Call us on Tel: 051 395900
*Included with 50cloud Standard and 50cloud Professional. Available on 50cloud Essentials for an additional charge.
It may be a little early to think of the Christmas holidays, but here’s a thought that we’d like to plant with you. Most companies in Ireland tend to come to a halt for well over a week between Christmas and the New Year, and when you’re sitting at home in those long days after the turkey has been cleared away, it’s a fantastic time to come up with some fresh thinking for your company.
While you’re relatively relaxed – and without the daily pressure of the office – you can achieve great clarity of thought. Why not put it to good use by working on three or four core items that will give your company an edge in 2018? In no order, we’ve come up with the following:
Are you set up for success?
There is a huge amount of research evidence to support the claim that employees are significantly more productive when working in a physical space that suits their needs. Some people may prefer the privacy of a closed office, while others may prefer the more social nature of an open plan space. The key point here is that not all employees are the same, so it’s great to be able to offer a choice of working environments.
And it’s not just whether you opt for open plan versus private offices that impacts on staff. Humans react positively to factors like light. Natural light if best, of course, but if your offices are short on natural lighting, there are umpteen solutions on the market that can simulate natural light, with a proven ability to improve mood, energy levels and concentration.
We’re not suggesting that you spend a fortune in remodeling your workspace, but some thought to how you structure your offices could pay rich dividends in getting the most from your staff – and creating a workplace that suits their many different needs.
This could be as simple as tackling an old storage room that’s not doing much and turning it into a brightly coloured and casually furnished breakout room where your staff can go for informal meetings, think-ins or just to get some quiet time to concentrate on a difficult project.
Are you getting enough from automation?
Your staff are not just your most expensive asset – they’re also your most important. It stands to reason, therefore, that you’ll want to use them to best effect – on tasks that will make a real difference such as forging great relationships with your clients or coming up with new business initiatives.
To this end, it pays to make sure that as many as possible of your day-to-day office tasks are automated. For example, by calling on payroll software or accounting software to drive your company forward, you are freeing up hundreds of hours each year – hours that can be used on much more productive tasks. And don’t be put off by believing that software solutions are designed for bigger companies – there’s no shortage of accounting software for small business that can transform how you take care of time-sapping day-to-day accounts work. The latest edition to the Sage 50 family of software is Sage 50c, and it is a leading accounting software in the Irish market for small to medium-sized businesses.
It automates a whole host of tasks in areas such as Accounts Payable, Accounts Receivable, Cash Flow Management, Inventory Management and Invoicing. Each of these tasks, on their own, can sap a huge amount of man-hours, but when you combine them, the savings that automation yields are even more dramatic.
The best accounting software for your business is a solution that addresses not just today’s needs, but that also has the capacity to grow with you, without requiring a further major investment in the future. Choosing your small business accounting software could be one of the most productive things you could possibly do over the Christmas holidays. And wouldn’t that be a fantastic Christmas present to your business?
If you’re not a ‘natural delegator’, now is a good time to address this.
People often believe that they are naturally good at some things – and naturally bad at others. The fact of the matter, however, is that most skills can be acquired, and the ability to delegate very definitely comes under this heading.
Many executives feel an unnecessary degree of stress each year because they take on too much responsibility – not just for overseeing various tasks, but also for micro-managing them.
If you think you could do with some extra layers of delegation in 2018, here are five simple questions to ask yourself to check if it’s appropriate. If you can answer yes to most of them, maybe it’s time to hive off some of the work next year.
Is there someone else in your company who already has – or could be given – the expertise or knowledge to carry out the task. In other words, is it critical that YOU perform the work, or can you let go of it?
Could someone else in your organisation grow and develop their skill set by carrying out the task?
Will this task crop up again in the future? In other words, will you be doomed to carry it out forever if you don’t delegate it to someone?
Have you got enough time to spend on delegation, i.e. explaining what’s required, possibly giving training or advice, and being available to intervene if any problems arise?
Is this a task that’s better suited to someone else’s skills? This isn’t always the case, as recruiting new team members, for example, may be something that genuinely needs your experienced input.
If you’re not a ‘natural delegator’, now is a good time to address this.
We’re not by any means suggesting that a few hours solid thinking over the Christmas break will work miracles by itself. But it can mean that you come back to the workplace after the holidays with a clear picture of what you want to achieve – and perhaps a few starting points on your journey to a more efficient, more effective and more automated business.
And if you get it right, we promise that it will become part of your ‘Christmas routine’ from here on in. After all, who can quibble with a better business?
Spend some time over the Christmas holidays thinking about how you can improve your accounting and payroll operations – as well as remodelling your workspace. To find out more about our cloud-based solutions, call us at 051 395 900
Now that you have subscribed to sage 50 subscription you will be notified on any updates on your sage automatically unless you turn this off. Please turn off these notifications from automatically update to manually update. We recommend you change these settings by going into Tools – Options and tick Manual for each PC in your office and only upgrade your sage 50 when it is a planned upgrade.
If you decide you wish to go ahead with an upgrade please contact us first and check the following:
Your computer meets the system requirements
You’ve installed all the latest updates for Windows
You can log on to the computer as an administrator
If you’re installing on a network, that you have the right permissions on your data folder
It is important that your firewall or antivirus software doesn’t block the Data Service. Please ensure the following ports are open:
Sage 50 Accounts Service v24: TCP 32224
Sage 50 Accounts Control v24: TCP 34224
Take a backup of all your companies within Sage 50
You can register and download the update from our Downloads and Update on our website https://pimbrook.ie/support
We recommend you install the software in a new location on your Server and your Client PC.
We would strongly recommend if you have your data on a network that you contact us to arrange for our technicians to come on site to run the update. You can contact sales@pimbrook.ie to get a quote and arrange an appointment.
Whenever the topic of investing in staff training crops up, the chances are that someone will pipe up with “What if we train them and they leave?” But turn that thought on its head – what if you DON’T train them and they STAY?
The fact of the matter is that well-trained staff are one of your biggest assets, and can contribute to the success of your company in a whole host of complementary ways. Training should not be regarded as a Profit and Loss item, but rather as an investment in your staff that will pay dividends for years to come. If you change your mind-set to look at training in this light, you can clearly see why there’s a clear business case to be made for having well-trained staff across all functions of your business.
Here are the 8 Benefits Of Training Your Employees:
Makes recruitment easier. First of all, a great training programme will make recruitment of the best available talent that much easier. Research indicates that over a third of Millennials are attracted by the prospect of on-going training, helping to speed up their career arc and giving them the reassurance that their new employer is willing not just to hire them – but to invest in them. And as employment levels continue to rise, recruiting the right staff will get more and more difficult in the coming years – so make sure you give yourself the recruitment edge by offering training to your staff.
Saves You Time and Money. Mistakes are expensive. When an untrained or poorly trained staff member messes up, it means that another, more senior employee has to step into the breach to sort the problem. And if the mistake is serious enough, it may suck senior management into the mess, eating into valuable management time, and remember that, unless you instigate training in response to persistent mistakes, they’re liable to continue, costing you more and more in time and hard cash alike. Implementing appropriate training means that mistakes are a much rarer occurrence, and the time and money you spend rectifying them reduces accordingly.
Keeps Client Confidence High. Your clients are no mugs! They can spot a professional, trained staff member a mile away, and love to deal with people who have the full range of skills to service the client’s needs. When you skimp on training, your clients will notice it, and will eventually ‘vote with their feet’. Poorly trained staff deliver inferior client service, are less able to provide valued advice, and simply fail to inspire confidence on the part of the client. Can you really afford to have this sort of staff representing you? Surely it makes sense to have staff in place who can fully service the needs of your clients – both today and into the future.
Increased Training Means Increased Productivity. The research proves it time and time again – staff who have been fully trained out-perform their less able rivals across a whole range of KPI’s, everything from hitting their own personal delivery targets to acting as a better ambassador for your company with all the clients they come in contact with. Whatever task your staff happen to be performing; they’ll do it better if they genuinely know what they’re doing!
Contribute To A Culture Of Excellence. If your company pursues excellence in manufacturing, service or client satisfaction, the fact of the matter is that a poorly trained staff member can seriously eat into this culture, making it appear acceptable that there are two ways of performing a task – the fully professional way or the “I’ll have a go” way.
Prevent Staff Churn. One of the biggest contributors to high staff turnover is failure to invest in your staff. And high staff turnover is not just expensive in terms of recruitment cost – it also sends out a message to your customers that you don’t provide the sort of workplace that they themselves provide for their staff. Your reputation is only as strong as your weakest staff member, so doesn’t it make sense that even your most recent recruit is trained sufficiently to represent your company in the brightest light.
You’ll Alienate Your Competent Staff. Nobody likes to feel that they are being taken advantage of. So for staff who are fully trained (by yourself or in a previous work life), they will quickly lose patience with having to step in to sort problems caused by poorly trained or untrained staff. And to compound this, the untrained staff will be very much aware of their shortcomings and will be angry at constantly having to be ‘bailed out’.
You’ll Lose The Power Of Great Networking. Every single staff member is likely to interact with your clients, whether it’s at a formal presentation, or simply bumping into them at their kids’ football match. If they can’t make a basic elevator pitch or chat informally but confidently about your business, it reflects poorly on you.
The points above around training in general apply with equal certainty to pretty much every aspect of your business, but when it comes to training your staff in the area of Payroll and Accounting Software, we have a very specialist set of expertise that can genuinely take your staff to the next level.
Under the heading of Accounting Software, for example, we were Sage 50 Irish Partner of the Year 2016, proof positive of our excellence in this area.
We are also acknowledged experts in Sage Micropay, a highly sophisticated yet easy-to-use payroll software that’s perfect for medium to large Irish companies, and takes care of all Irish Revenue compliance requirements.
The bottom line is that training, in general terms, is one of the most important considerations when it comes to having staff that constantly exceed your clients’ expectations. But in more specific terms, when you’re ready to move your staff to the next level in terms of Payroll System and Accounting Software, you need to talk to Pimbrook.
Contact us today on 051 395 900 – and let’s get the ball rolling!
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