If you take the plunge and start off using bookkeeping software,
you will be able to use your valuable time to run your business and make
it flourish, instead of struggling with your books. Which bookkeeping
software program should you choose? Will it meet your needs?
Just because your business is small, don't feel you have to compromise. There is a myriad of software companies out there fighting over the bookkeeping software for small business market. This competition is good for the consumer. It means that there is a product out there for you, at a price you can afford. Here are our top ten things to think about when choosing your bookkeeping software:
1. Features
Cash accounting tells you what you have been paid and what you have received, but to really be in control you will also need to know what you owe and are owed. This is vital for projecting your cash flow. This means you need a full accrual accounting system. This includes branded invoices, an easy way of managing the invoices you owe, banking, reporting, sales tax returns if you are registered for VAT, expense claims, credit notes and managing contacts.
2. Direct Daily Banking
Avoid the stress of not knowing what has been received and what has been paid. Look for a system that connects to a range of banks so you can enjoy seeing your bank transactions automatically appear every day, saving you time, and taking away the chore of manual data entry. With automatic bank feeds, it's easy to keep the books up to date regularly, proving a real time view of the business, so that you are always in control.
3. Safe and Secure
Security is always a big issue, but especially with bookkeeping software for small business. It goes without saying that it is a big issue for software developers too, and will always be at the top of their list of features.
4. Easy To Install and No Messy Updates
If this is a feature you are looking for, look to the cloud! If you don't want a package installed on your computer or laptop, technological advances mean that you can enjoy the same levels of security over the internet. This also means that the bookkeeping software for small business companies take care of all the messy updates, so you never have to worry again whether you are using the most up to date version.
5. Accessible
With home working becoming more and more popular, many businesses require access to their financial information to be available from a variety of locations. Several people may also need access to the information, and buying multiple licences can get expensive. This is where online bookkeeping software really comes into its own. Secure access at anytime and anywhere that has an internet connection.
6. Easy to Use
Look out for an intuitive, easy to use dashboard or home page. This should tell you at a glance what your bank balance is, what you are owed and what you owe, any expense claims that are outstanding, and ideally there should be an area which you can flag up accounts which you always want to see, such as your year to date sales. This will give you an up to date snapshot of your business. Navigation should be easy. You should be able to find your way round easily to the features you need to use, after all, the whole idea is for the bookkeeping software to free up your time for running your business. If you make a mistake, will it be easy to correct?
7. Support
This is also an area which you need to check. Who is there to support you when things don't go right? Is it a telephone number? Will you need to send an email and wait for the response? Some systems have a support forum where you can post questions. Another option is to contact your accountant directly from your software. The main thing is that you are satisfied before you have a problem with how it will be dealt with.
8. Handy App For Your Phone
Apps are now being developed to use for bank reconciliations, creating your branded invoices and doing expenses. This may be something you would like, or not important at all.
9. Reporting
Easy to use reporting is needed so you can see how your business is doing, so you can easily spot mistakes, and so you don't have to use too much paper. For this, reports should be available in a format that you can easily see on the screen.
10. Audit trail
Your bookkeeping software for small business should make accounting transparent and provide a clear audit trail available at the click of a button. This saves storing all the physical documents, and saves time sifting through the paper trail.
Good luck choosing your bookkeeping software for small business, getting it right the first time will save you time and money in the long run!
Just because your business is small, don't feel you have to compromise. There is a myriad of software companies out there fighting over the bookkeeping software for small business market. This competition is good for the consumer. It means that there is a product out there for you, at a price you can afford. Here are our top ten things to think about when choosing your bookkeeping software:
1. Features
Cash accounting tells you what you have been paid and what you have received, but to really be in control you will also need to know what you owe and are owed. This is vital for projecting your cash flow. This means you need a full accrual accounting system. This includes branded invoices, an easy way of managing the invoices you owe, banking, reporting, sales tax returns if you are registered for VAT, expense claims, credit notes and managing contacts.
2. Direct Daily Banking
Avoid the stress of not knowing what has been received and what has been paid. Look for a system that connects to a range of banks so you can enjoy seeing your bank transactions automatically appear every day, saving you time, and taking away the chore of manual data entry. With automatic bank feeds, it's easy to keep the books up to date regularly, proving a real time view of the business, so that you are always in control.
3. Safe and Secure
Security is always a big issue, but especially with bookkeeping software for small business. It goes without saying that it is a big issue for software developers too, and will always be at the top of their list of features.
4. Easy To Install and No Messy Updates
If this is a feature you are looking for, look to the cloud! If you don't want a package installed on your computer or laptop, technological advances mean that you can enjoy the same levels of security over the internet. This also means that the bookkeeping software for small business companies take care of all the messy updates, so you never have to worry again whether you are using the most up to date version.
5. Accessible
With home working becoming more and more popular, many businesses require access to their financial information to be available from a variety of locations. Several people may also need access to the information, and buying multiple licences can get expensive. This is where online bookkeeping software really comes into its own. Secure access at anytime and anywhere that has an internet connection.
6. Easy to Use
Look out for an intuitive, easy to use dashboard or home page. This should tell you at a glance what your bank balance is, what you are owed and what you owe, any expense claims that are outstanding, and ideally there should be an area which you can flag up accounts which you always want to see, such as your year to date sales. This will give you an up to date snapshot of your business. Navigation should be easy. You should be able to find your way round easily to the features you need to use, after all, the whole idea is for the bookkeeping software to free up your time for running your business. If you make a mistake, will it be easy to correct?
7. Support
This is also an area which you need to check. Who is there to support you when things don't go right? Is it a telephone number? Will you need to send an email and wait for the response? Some systems have a support forum where you can post questions. Another option is to contact your accountant directly from your software. The main thing is that you are satisfied before you have a problem with how it will be dealt with.
8. Handy App For Your Phone
Apps are now being developed to use for bank reconciliations, creating your branded invoices and doing expenses. This may be something you would like, or not important at all.
9. Reporting
Easy to use reporting is needed so you can see how your business is doing, so you can easily spot mistakes, and so you don't have to use too much paper. For this, reports should be available in a format that you can easily see on the screen.
10. Audit trail
Your bookkeeping software for small business should make accounting transparent and provide a clear audit trail available at the click of a button. This saves storing all the physical documents, and saves time sifting through the paper trail.
Good luck choosing your bookkeeping software for small business, getting it right the first time will save you time and money in the long run!
Claire Georghiades, Director of Accounts Resource Limited
http://www.accountsresource.co.uk
Accounts Resource Limited was set up to give small and start up businesses the opportunity to receive a high quality accounts service at an affordable price. Our pro-active approach allows businesses to grow, increase profits, improve cash flow and minimise tax. While we work in your business you will have more time to work on your business.
For more information, visit our website: http://www.accountsresource.co.uk
Article Source:
http://EzineArticles.com/?expert=Claire_R_Georghiadeshttp://www.accountsresource.co.uk
Accounts Resource Limited was set up to give small and start up businesses the opportunity to receive a high quality accounts service at an affordable price. Our pro-active approach allows businesses to grow, increase profits, improve cash flow and minimise tax. While we work in your business you will have more time to work on your business.
For more information, visit our website: http://www.accountsresource.co.uk
Article Source: http://EzineArticles.com/7495016
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