Running a small business is exciting but for many owners the administrative side of the business, and especially bookkeeping, is very stressful.
A lot of business owners get quite panicked at the thought of bookkeeping and most, if they are not using the best bookkeeping software for small business, are concerned they are not keeping accurate financial records.
Because you cannot afford to bury your head in the sand when it comes to your small business, bookkeeping software is just the answer.
QuickBooks is the leading accounting software with over 5.6 million users worldwide, but there are many others on the market too.
As far as bookkeeping software goes, QuickBooks has a reputation of being a trusted partner to small businesses, as the software was specifically developed for the SME sector.
If you have identified that you need help with bookkeeping and are thinking of investing in software, then that is the first step to success.
The right fit of bookkeeping software for your business is an easy and affordable solution to financial compliance and tracking.
Be critical of software solutions you are looking into and demand features that you need to run and grow your business. No two small businesses are the same so be sure your bookkeeping software partner will meet your needs.
Look for these 3 features specifically in bookkeeping software:
Usability: The software must be easy to learn and use – yes, even if you also employ the services of an accountant. QuickBooks, for example, can accommodate up to 20 users. If the interface isn’t user-friendly, there will be poor buy-in and staff may revert to manual financial processes – which totally defeats the object of automating your financials. Also, if your financials are easy to do, no matter what the time of the month or year, you can devote time to other important aspects, like growing your business.
Growth features: You want bookkeeping software that can grow as your business does. The software must be able to accommodate increased stock management, multi-currency trading, VAT management and multiple users, for example. You may expand your products and services quicker than anticipated, so make sure your bookkeeping software is able to keep up.
Tax help: You can’t bury your head in the sand when it comes to taxes and your accounting solution shouldn’t either. The more detail you can provide the taxman the better, so make sure your small business accounting software solution creates a clear picture of your finances and allows for easy auditing of your business for tax purposes. . With the right accounting software and online bookkeeping tools in place you can confidently hand over your financial information to your accountant to base important decisions or your tax returns on.
Do not compromise on these three aspects of bookkeeping software. There are many other features which will help your business thrive, but these three aspects are key to your investment in bookkeeping/accounting software.
It’s easy to get started with help from EasyBiz Technologies. For more info, go to www.easybiztech.co.za