For all business owners, bookkeeping can seem like a daunting task. From over complicated accounting systems, to just finding the time to do it when you would rather be doing something that would help your business to grow. This is where the advancements over the past few years can really help you get ahead. Forget all of your desktop products and move into the cloud accounting revolution!
With GDRP fresh in our minds, everyone is looking at security. With online accounting packages, you can relax in the knowledge that your data is encrypted, multiple layers of firewalls are in place and regular security audits are performed. This is continuously being backed up online so that it's safe, secure and available when you need it.
These systems have been designed for you and your staff to be able to use with very little training. Do not think that all of your information has to be entered in manually either. Not only do they all feature a bank feed to allow automatic downloads of your bank data but there are other apps which will enter both purchase and sales information for you with little or no interaction from yourself.
Want to get paid quicker? Get someone else to chase your debtors for you? The benefits of using these systems to send out your sales invoices, is that not only can they be emailed across to your customer but they can include links on the invoice for your customer to pay you. If that does not work the system will send out automatic reminders to your debtors at regular intervals.
They also offer great flexibility in that they can be accessed from anywhere, so you are not tied down to the PC. Why not get a quote over to a prospective customer seconds after you have had the meeting with them, straight from your mobile phone!
I am sure you have heard about Making Tax Digital (MTD), which the government are introducing for VAT registered companies from 1st April 2019, with everyone else to follow the year after. This means that it will be compulsory for businesses to keep digital records. Therefore, there is no better time to be switching over so that you know you are fully compliant.
Above are just some of the benefits that can be had through switching. We will be running short Making Tax Digital workshops this summer, if you would like to attend please contact us at ehill@dextersharpelincoln.co.uk, alternatively book in a meeting to come and discuss how we could help you eliminate your bookkeeping burden.