If you run a small business or are a freelancer, your accounting needs might be simple. In fact, you might have made do with a simple spreadsheet of invoices and expenses to date. But, as things start picking up, this system might become inaccurate and you’ll find yourself needing more control over your accounts. If you are already at this point, you’ve made a good decision by deciding to research small business bookkeeping software.
Bookkeeping software helps you stay abreast of your accounts, ensuring that your records are accurate and up to date. But, while this is the basic functionality that you want from such software, there are also other factors to consider. The following are some of the basic features that you should demand of your small business’s bookkeeping software.
What to Look for in Small Business Bookkeeping Software
If you are a small business owner going the DIY route on your accounts, usability is vital. A simple, easy-to-understand interface will ensure that you keep your books error-free. And, in addition to this, it will save you valuable time, which you can then devote to expanding your business.Even if your business has its own accountant, a practical software package brings ease and simplicity to the accounts process. So, be sure to look for accounting software that emphasises usability.
- Features that accommodate growth
Your business may be small now, but you have aspirations of expansion. And, even if you don’t want to become a conglomerate, expanding clientele is important for a healthy business.With this in mind, it is a great idea to find software that can accommodate future growth. While a spreadsheet might be sufficient at the moment, your future might see you taking on bigger projects and more clients. This will mean that you need to make allowances for increased stock management, multi-currency trading, and VAT management. Be sure to find a bookkeeping solution that can handle this when the time comes.
Of course, if you are already at this point, look for a solution that handles this simply and effectively. Your goal should be software that offers multiple features in each of these areas.
It also helps to find software that can accommodate more users as you take on more employees. Software that can control user access, facilitate team messaging, and accommodate backups is ideal in this regard.
- Assistance with regards to tax
When it comes to paying tax, the more detail you can provide, the better. Spreadsheets may work for a very basic business structure, but revenue from multiple sources can be hard to track through this method. It is thus far better to have a system that makes allowance for audits and creates a clear trail.
Choose QuickBooks Bookkeeping Software
You may think that finding user-friendly software with all of these features is a tall order, but it has actually been a market leader for years. QuickBooks is the go-to accounting software specifically because it bundles countless features into a package that is both easy to learn and easy to use. And, to make it even more attractive, it is very affordable.
So, if your small business is ready to move to specialised software, be sure to choose the world’s most trusted small business bookkeeping software. For more on QuickBooks’ features and to discover how this software can work for your business, please contact us right away!