For small businesses, keeping on top of your books is one of the most important tasks. It can sometimes be overlooked for other pressing matters, such as tirelessly working to ensure your business is a success and you and it stay afloat.
The importance of maintaining accounts, particularly for a small business, should not be overlooked. And often, all too soon, it could become a problem or an issue before you even realise.
In the past, some small businesses have chosen to do the bookkeeping in-house, ie. themselves. This usually means that the business manager, sometimes the creator of the business’ product, the sales person, and the marketing person is the same one person. You wouldn’t find such a set-up anywhere else and there is usually a good reason for this. It doesn’t work.
A lot of small business owners would choose to do it themselves because previously, hiring an accountant has been an expensive costing they couldn’t commit to.
With the onset of online accounting this is no longer such an issue. With most online software you can input your data and they do the working out for you, making life as a small business a lot simpler. Regular upkeep of data entry and the job is done, an easy solution to what might usually be a headache. Bank statements and invoices can be uploaded easily also.
Online accounting is usually a monthly subscription, making it often a more affordable solution as well. You can control input and clearly see where the money is going and coming from.
Almost everything is online now, in recent weeks three previous high-street giants have gone into administration following a few years of battling against online counterparts, HMV – Itunes and other music download software, Jessops – smartphones, Blockbusters – Lovefilm, Netflix etc. So why can’t your small business accounting be online?
Sageone has online accounting software that your business can try for free for thirty days, so you can really see if it’s right for you and your needs, and if you need to find out more about what’s out there on the market.
You should be able to do tax, including VAT, returns, set up banking and send invoices from your online accounting system, all far quicker and easier than any other method. You can usually get an app for your accounting system, which means you can check things on the move. These systems are bringing small business accounting into the digital age and you could save you and your business a lot of time by considering these options, after all, time is money.
