We recommend all small businesses consider whether the following benefits from online accounting software might save them time and help keep in control of their business, compared to desktop or spreadsheet software.
Online accounting benefits:
- Business information at your fingertips on smartphones or any online device, to help you take timely action where needed to collect cash, pay suppliers or improve profitability, even while having lunch!.
- Automated bank feeds mean bank statement information is received automatically and you can easily reconcile from anywhere, helping ensure accurate & timely information.
- Online invoicing allows you to immediately invoice customers electronically, with automated reminders, to help you get paid faster.
- Automated updates and cloud storage means no need to worry about backups or PC/hardware failure, you’ll be able to benefit from regular new features and if you upload purchase invoices you needn’t worry about storing or losing lots of paper!
- Useful reports and HMRC electronic VAT filings at the press of a button.
- Services can be tailored to your needs, from you doing all your own book keeping but with added benefit of a periodic proactive accountant online review, to us doing it all for you with you easily photographing and uploading invoices to us from your smartphone.
Instead of just potentially wasting time on the first free trial you come across, why not arrange to meet us for some unbiased advice based on experience in using the major online systems (Quickbooks, Exact Accounting, Xero, Kashflow, etc.) to help you decide whether you could benefit, as well as help getting you set-up and running properly. Online accounting benefits are greater when you sign-up with an experienced accountant, who can then provide a proactive real time service to help you more. Published online prices are mainly between £5 and £20/month (there are even currently free ones!) depending on offering and supplier (cheapest ones usually limited re VAT, bank feeds, size etc.) and it’s best if you keep all your business transactions in a dedicated bank account. Benefits may be less for very simple non-VAT cash-based businesses with few transactions, but most business owners could benefit.
To find out more, just give us a quick call!