Cloud accounting for SME’s is changing. Gone are the days when one was making notes in a cash book, or on pieces of paper only to realise that at the end of the financial year, we didn’t know where we are at financially.
Today, each business owner can choose to do their own accounting and bookkeeping on the go. How? Through cloud computing. The accounting software developers are killing each other, through competing against each other with never-ending additions of features and additional apps.
In fact the HMRC is looking to connect all business accounting directly to them via cloud accounting. As a matter of fact there are already companies that offer that type of software. What does this mean to the business in the UK and the world? It means that HMRC is looking to have immediate access to business, and a bigger control at the same time. This will also cut out any attempts of cheating on behalf of business.
So what software is good for a small business?
We have tested three different software programmes that are highly recommended by the accountants.
Kash Flow – Very user-friendly, well-priced software for small to medium company. Easy to use, with many additional features, such as CRM, Email marketing, inventory and much more. For me, it is the best accounting software for start up business.
Sage 50 – Sage is highly popular software with the accountants. Most of the accountants is using Sage for their clients accounts as it has many fantastic features that are needed for creating reports. What I like in Sage 50 is its dashboard. This is very clear, concise and easy to understand. The one thing that I will point out against the software is that it is not very user-friendly software.Particularly when it come to cancelling an entry or editing completed entry. The navigation within the site is more complicated too.
Xero – Much easier than Sage 50, less complicated in operation, lots of additional features. Simple to use, and has the ability to work on all devices. Has a number of apps and other features ideal for business growth. I really like this software, but it comes second to Kash Flow. Xero has the ability to post receipts and create invoices while on the go, using the app. This makes life easier for a person who really wants to use this. However, it is always better to delegate these tasks so the trades person or anyone else, can work smarter.
It is best to outsource the bookkeeping to someone who can do all the work while the business owner concentrate on doing the business. Often people seem to ignore the fact that bookkeeping is important, as this helps them to know how the business perform on daily basis. The second issue is that we are guilty of procrastinating when it comes to accounting. Many Tradesmen detest paperwork, especially the bookkeeping, so the place papers in the bag and drop it on the accountant`s desk. Then they are shocked with the costs.
Dolphin Seminars is running number of training courses and workshops on every topic concerning running the business. The workshop is based on the real-life experiences of the coaches and help the business owner/manager to understand the benefits of outsourcing. However, even though the paper work is outsourced, the business owner, need to be able to understand the financial statistic, as these are their road sign for the future. Clear and concise accounts are the leverage to a business in order to rich to the next level, plan expenses, training, as well as business planning and reviewing.
We invite you to visit our website and take advantage of workshops and courses we run to benefit your business.