Tag Archive » bookkeeping

Which accounting software should I choose?

Which accounting software should I choose?

There are numerous accounting software packages available which makes the choice varied but it can be confusing which makes the decision harder. Before looking at any software you need to establish what you need the software package to do:

  • How big is my business now? Where do you see it in 5 years/10 years? – It is important you consider this and it is better to opt for a software package that will ensure it still meets your needs to 5/10 years’ time
  • What are the 5 key elements you need from a software package? – This could be sales invoicing and credit control of customer accounts, products and product reporting, management reports, ability to do vat returns, bank feeds, and anything else that is key to your business
  • Accessibility – how many people need to use it and where do they need to access it from? – there are different types of software out there – desktop based and cloud based being the main two so decide which one will best suit your needs. Remember desktop packages you tend to own outright so you never lose the data whereas you do not tend to own cloud based versions and if you decide to change in the future then you would lose the data
  • Budget – what can I afford? although I would say this should be the last factor you consider – a good accounting software is worth it in the long term as it is invaluable and saves you time as well as giving you lots of information

Once you have established what you need from a software package you can then start looking at the ones available – check the features of each one first that way you can discard any that don’t meet your requirements quickly. Most companies offer a free trial (some offer free demo’s) on their software so once you have a short list download the free trials and have a play, that way you get to see how user friendly they each are and which one(s) you prefer. Ask questions –don’t be afraid to ask questions about the software it is important you have any queries answered before making your final choice.

Once you have shortlisted it to just a couple of packages make sure you look at the finer detail and the wider picture:

  • Will I need to train employees how to use it? If so how long will this take and how much will it cost?
  • Will this software grow with my business? – can it cope with the demand in 10 years’ time? It is better to go with a long term option as switching software every few years is costly and time consuming
  • You can talk to your bookkeeper/accountant for advice too – I would strongly recommend you do this as your bookkeeper/accountant will have an excellent understanding of what you need from your software and they will need to use/access it too.


Rachael Early

Bookkeeper – Why Bother?

Bookkeeper – Why Bother?

Lots of small business owners asks themselves why do I need a bookkeeper when I can do it myself and save money? Well I would like to answer that question and hopefully change a few minds in the process.

As an owner of a small business you are probably pretty good at getting things done, being organised and managing. You also probably use experts for things like designing your logo/stationary, creating a website and the legalities of business. Therefore why when it comes to the financial stability of your business (which, let’s face it is an extremely crucial element of your business) are you still doing the books yourself?

Many bookkeepers are not looking for huge salaries, employee benefits and holiday pay. Many bookkeepers, like myself, are self-employed qualified professionals who work with a handful of clients to provide a committed and knowledgeable service. This means you do not have to pay holiday pay, sick pay, maternity pay, pension payments and all those other costs that come with having an employee.

A bookkeeper can handle everything for you – sales ledger, purchase ledger, credit control, VAT, cash flow forecasting, management accounts, PAYE – and do so in the way you want it to be done and really get to understand your business. They can identify areas where you can save money, over time they can anticipate peaks and troughs using past data, chase up slow payers/bad debt.

So in fact a bookkeeper can save you time and money in the long term by freeing you up to do what you do best – manage/grow your business, whilst helping you to look after the crucial financial health of your business.

Rachael Early

Contact Details

Telephone: 07790 001779
Email: rachaelearly@outlook.com
Location: Kettering

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