What Fitness Clubs Must Look for in Accounting Systems
If your fitness club accounting is still manually consolidating data from a bunch of different applications, you are wasting time and putting your business at risk. But, what if your accounting software can’t integrate with any of your other business systems? Simply put, it might be time for an upgrade.
Fitness clubs have unique accounting needs that typically require a lot of different applications—such as QuickBooks, Excel, a membership billing system, expense reporting software, payroll services, banks, credit cards and more. Entry-level accounting systems such as QuickBooks don’t have the ability to integrate all of these solutions, which means they end up just serving as information silos. Which also means accounting staff gets to manually download, consolidate and enter or import that data. Every day. Over and over.
So, what is the best accounting system for fitness clubs? And which features should your look for in your next accounting system?
There are many variables to consider, but our fitness club clients have found great success with Microsoft Dynamics GP. When it comes to the features you should be looking for, there are two things we feel are absolutely mandatory.
- Flexibility to Integrate Accounting with Third-Party Fitness Club Applications
Integration is the biggest limitation of most accounting software and one of the big advantages of Dynamics GP. We can setup Dynamics GP to integrate and/or connect with nearly any of your third-party applications or fitness club software, such as:
- Expense management
- Banks and credit cards
- Payroll processing services
- Membership billing systems
For example, one of our fitness club customers with several Dynamics GP integrations by BroadPoint is saving more time than they even imagined:
They also integrated Dynamics GP with Bank of America to automatically populate Accounts Payable, ABC Financial, their expense reporting provider and more.
Additionally, there is continuous investment by Microsoft and a large community of independent software vendors that create integration tools for hundreds of applications, simplifying the process even more.
2. GAAP-Compliant Security and Controls
In addition to automation and flexibility, Dynamics GP also helps growing fitness clubs increase security and controls around their data in three significant ways:
- Unlike QuickBooks and other entry-level systems, Dynamics GP is fully GAAP-compliant. This means that every transaction or change made within the system is tracked, and can easily be locked down.
- Dynamics GP makes it possible to restrict different users from specific functions. There is a lot of flexibility in how you can setup permissions and access to your important data.
- Integrating all your solutions introduces another level of security for your business. The integrations make data transfer secure, while reducing the risk for manual errors and fraud.
This is just a snapshot of how the flexibility and security of Dynamics GP enables more efficient, reliable accounting. By integrating your applications, your financial management can become your competitive advantage, instead of your burden to bear. You may be interested in learning how we help fitness clubs automate reporting and get consolidated insight in the click of a button.
Since 2001, BroadPoint has helped over 600 organizations, including fitness centers and health clubs, deploy Microsoft Dynamics GP. Learn more about how we can help you streamline your finances and operations with Microsoft Dynamics GP.