Why we all need accounting software

There are many reasons why businesses decide not to install special accounting software.  These include perceived costs, worries about complexity, and the gut feeling that piling receipts into a shoebox and handing them to an accountant at the end of each year should be sufficient.

 

The truth is that whilst all these reasons may have been valid in the past, times have changed and there are now some extremely persuasive arguments as to why accounting software is a must for all businesses.  Let’s start with cost.  While accounting software used to be pricy, with costs escalating for each additional user, it is now possible to get hold of a decent accounting package which won’t cost a penny.  For example, we provide all our clients with an online accounting system called KashFlow.  Normally costing in excess of £200 per year, Solid Limited clients receive KashFlow for FREE

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Comments
ShirleyM's picture

There has to be a will, as well as being a way.

ShirleyM | | Permalink

Some people don't know how to do bookkeeping and don't want to learn, because they don't want to do it, therefore, if they are forced to do it they will always produce garbage.

We offer free bookkeeping software, and most clients are happy to do their own, but some engage a bookkeeper, or just hand over the shoe box to us.

If they are happy to pay others to do work they could do themselves then it has to be their choice. We have a choice whether to represent them, or turn them away. That way, everyone has a choice, and everyone is happy. :)

RedTapeDoc's picture

 

RedTapeDoc | | Permalink

 

Well In short, the business with accounting software is a proactive business. Using accounting software enables businesses to:

  • Keep on top of the bank balance
  • Monitor receipts and payments
  • Quickly chase outstanding debts
  • Plan cash flow and monitor actual against forecast positions
  • Interpret business and trading conditions
  • Provide business information to back up requests for finance

 

So don’t waste your time developing your own accounting systems when you can use a prewritten template. 

torbenhalvorsen's picture

Can your accountant help with accounting software?

torbenhalvorsen | | Permalink

Many accountancy practices recommend bookkeeping applications both online and offline for their clients, and will support them in how best to keep compliant records.

I believe choice is essential so that clients can run their business in the way that suits them, but achieves compliance and efficiency for the accountant. Whatever system is chosen it needs to suit the needs of the business now, and there needs to be an effective upgrade path for the future.

For example PaperLess enables the accountancy practice to offer several options to the client so that they can maintain accurate business records to keep them compliant and informed:

  • Client's users scan the documents(receipts, invoices etc) and delivers them over the internet to the accountant who then completes the bookkeeping by preparing transactions in PaperLess and posting them directly into their bookkeeping system. Client's users have access to all transactions and digital images of documentation online depending on their user rights.
  • Client's users prepare accounting records for each scanned document(using automatic invoice recognition to reduce manual data entry) and then the accountant checks the records and directly posts the transactions into their book keeping system (no re keying of data). Client could use workflow procedures over the internet to approve invoices for payment before the accountant posts them.
  • Client uses PaperLess integrated with their book keeping system and then the Accountant uses the Internet to access documents and transactions and provides their services to the client.

I hope that helps.

Phil

-- Accounting the PaperLess way™

KashFlow

apacarada | | Permalink

We do not develop our software. KashFlow is an online software that any business owner can subscribe directly through their website. It costs £16 + VAT a month. Also KashFlow has a partnership program for accountants.

One of the reasons we give it away for free because KashFlow integrates with many online applications: payroll, e-commerce, CRM, email marketing, receipt processing, paypal, card processing, direct debit facility and many more. But the main reason is that KashFlow is fit for most small to medium size companies.

I have used, tried and tested many accounting software packages but KashFlow is what I would recommend to every business owner that wants to do their bookkeeping. We do not use KashFlow for every client, some who do not want to get involved with bookkeeping we use VT Transactions+. Those sceptical of the cloud we recommend VT Cashbook or Quickbooks for a bigger company.  But before that we look at what other software the company uses to be able to integrate systems to save time and ultimately reduce cost.

dissertation help

Smithy63 | | Permalink

I am a 48 year old mature student. For my dissertation I would like to discover: 1. Why so many businesses  outsource their book-keeping and accounts? and 2. Why some of these SMEs just hand their accounts over in a 'shoe-box', 'plastic bag' and many other ways?

Can any other you kind readers suggest some sites where I can find some information on the above factors. As I am struggling to find literature on this.

 

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