When you think about finance software you often think about big companies, with large finance teams who can pay a big software provider such as SAP to support them.
We all know that IT has developed rapidly over the last few years, and you as a small business owner can take advantage of this. There are now many cloud based on-line providers which can put you in charge of your numbers.
Finance software can save you time & money as well as ensuring that you are on top of your 'books' right now. It can also promote a better working relationship with your accountant or bookkeeper, with less manual work by completing your basic bookkeeping needs for you.
The key benefits are:
I have had over 20 years of experience using different types of finance software, and I really believe that using the right software will benefit your business.
I am an accredited partner with both Xero and FreeAgent.
My essential set-up service includes:
Xero is a cloud-based software with 3 levels of package. It is simple to use and orientate around with a dashboard view that can be customised for what you find important. On top of all that Xero can link seamlessly to 800+ external Apps as well as the option to add on other functionality such as payroll, projects, and expenses to make a bespoke software package.
Perfect for small to medium / more complex companies.
A big issue for small business is keeping on top of the paperwork.
Hubdoc is a fantastic solution for this, it is free with Xero and is fully automated saving copies on your Xero transactions. It is easy to email and upload pictures of receipts so you don't need to keep / store paper copies and can also link to trade accounts such as B&Q or utilities like BT to automatically receive invoices.
FreeAgent is fantastic software package providing similar functionality. However, it is aimed at making bookkeeping simple and easy to understand. The Software is backed by NatWest Bank and partners with a challenger banking provider called Mettle. For businesses that bank with NatWest or Mettle the software is free.
Perfect for sole traders and small companies.