Accounting when you run a small business within your first few years is a tough and complicated process – one that a regular business owner can struggle to keep up with by themselves. There are many accounting software systems for small business, but the question is, will they benefit you and your business!
Looking into accounting software tools can also be a bigger confusion if you are not tech-savvy. The good news is that accounting software is incredibly helpful if you can master how to use it, and professional bookkeeping services like Pebbles provide training on such software using minimal time.
With so many software products currently available, how do you know which are the best for you? Here at Pebbles, we provide training on several solutions to keep tabs on your records with ease.
Choosing the Right Package
Naturally, with so many options, you need to step back and evaluate your business requirements first and foremost. You will also need to consider if the particular software chosen is a benefit or hindrance to your company’s growth.
Most software will offer a free trial so that you can get to grips with a basic version, and you should look into your software to ensure it is making Tax Digital. HMRC will require all self-assessments and VAT returns to be submitted through accounting software to reduce fraud risk and get more accurate tax figures.
If you are a business owner you have no doubt heard of Xero, which is extremely popular accounting software with bookkeepers and accountants also.
Different packages provide different prices. The cheapest has restrictions on transactions posted each month, whereas the most popular is a higher-priced that gives additional extras including payroll, expenses, CIS returns and project tracking. Xero is considered one of the easiest software to use, with everything accessible from a dashboard, from tracking expenses and sales to generating reports that can be exported to Excel.
QuickBooks is among the best accounting software used in the market today. Known for offering more comprehensive accounting solutions and tools, QuickBooks is the software perfect for those small business owners who prefer to save time and money.
When signing up to QuickBooks, you will usually be presented with an introductory offer, or your accountant may even have it within their package. Using the cloud version of QuickBooks provides constantly updated software to store all of your data and can be accessed from any internet connection. It is best to check which package best suits your business from those offered by QuickBooks.
In the understanding of which accounting software systems for small business best suits your needs, you will be able to provide a great sense of organisation within your business. For training on the best accounting software for your business needs, contact the team at Pebbles, the best bookkeeping services in Manchester.