Benefits of accounting software for accountants
Using an accounting software has many benefits to help make your job as an accountant easier. At Bokio, the free accounting software, we want to help you save time and money so you can focus on offering high value advisory services to your clients. Here are the benefits of using a cloud accounting software to manage your client’s business finances.
Collaboration with clients and colleagues
When you’re working with your clients you want the process to be as simple as possible, and sharing the workload is one way to do so. By using an intuitive, easy-to-use software, your clients can get involved and do some of the accounting themselves.
Sharing an accounting software with your clients means you will have full access to their records, and they can do as much or as little of the work as you need. If several colleagues are working on the same account, it also makes it easier to all be on the same page.
With Bokio, you can collaborate with an unlimited number of colleagues. Plus, you can have an unlimited number of businesses under your login, so you can manage all your clients too.
It’s important to set permissions so it's clear what access each user has. You can limit permissions so clients can only upload material and not record any items, if this will help you keep control of their books.
If you need to discuss a certain journal entry with your colleagues or clients you can write comments straight on the entry. This helps keep your discussions in one place and reduces the need for complicated email communication.
Instant access to receipts and invoices
By involving your client in their accounting online you can gain instant access to all their receipts and invoices. Bokio has several features to make sure you get the information you need to do your job efficiently without waiting around.
- Receipt upload with machine learning that recognises amounts and dates.
- Mobile receipt scanning app so clients can upload purchases on the go.
- Bank feeds to automatically import transactions up to 4 times a day.
- Integrated invoicing so you can keep track of incoming funds and record invoices easily in the same place as a client’s bookkeeping.
Automation helps save time
Automated accounting software helps you save time so you can focus on offering high value advisory services to your clients.
Automated reporting gives a great overview of your client’s finances without having to spend time crunching numbers. Bokio features the following reports:
- General Ledger
- Balance sheet
- Profit and Loss
- Invoice reporting
- Trial balance report as an export to Excel
You can also export most reports to Excel so you can do more customised reporting to suit your needs.
Making Tax Digital the simple way
Submitting a VAT return for Making Tax Digital doesn’t have to take time. Bokio is MTD compliant, so you can submit an automated VAT return to HMRC completely free, as long as all the accounting is done in Bokio. It only takes a few clicks.
Make repetitive tasks quick
Bokio recognises the numbers and dates in receipts, helps you record them in the correct account, and offers automatic matching of bank transactions. These features are designed to make basic bookkeeping as simple as possible.
Benefits for your clients
Providing an accounting software to your clients has lots of benefits for them too, beyond keeping their books in check. It can also help make managing their businesses easier! If your client can manage most of their needs through the software, then you will have everything in one place for full visibility. Along with bookkeeping, Bokio also offers:
- An invoice generator where clients can create, send, track and record invoices for their customers.
- Expenses management for clients and their employees.
Cloud accounting software
Cloud based accounting software has many advantages, including security, fast access on the go, and backups for your data.
When the software is based online, there is no complicated installation. Plus, you aren’t limited to using it on just one computer. Bokio works on a computer, tablet or mobile phone, so you can access it on the go at any time
Cloud accounting software is very secure as your activity is encrypted. At Bokio, we have similar online security as a bank. We also have 2 factor authentication for you login.
Bokio securely backs up your data so you won’t need to worry about losing or accidentally deleting important information.
Move on from spreadsheets
Using an accounting software has lots of benefits in comparison to using spreadsheets to do accounting. If your clients are currently using spreadsheets, encouraging them to move to a simple accounting software can make both of your jobs easier.
Spreadsheets are unreliable and unsecure, and accounting software such as Bokio offers a simple free alternative. There’s no need for your clients to struggle with formulas, or bridging software, especially when submitting VAT Returns.
Save money with a free software
If your client is a small business or sole trader then they may be paying for features they don’t need. Bokio is a great solution as it’s a totally free accounting software! Your clients feel they aren’t spending money on something unnecessary, or your firm won’t have extra expenses.
If you want to get in touch to ask any questions or to request a demo of Bokio, you can contact us here.
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We're changing the world of accounting forever. Bokio is a smart solution that helps small businesses and sole traders grow their company and profits. Powered by AI, we will help you do your bookkeeping, create, send and track invoices, and file your VAT return - all for free.