There are plenty of bookkeeping software packages out there for you to chose from, and the team at Bickerstaff’s have used a lot of them. The basics of bookkeeping are the same across all of the systems with just the user interface, the price and some of the bolt on extras varying so it is very much down to user preference as to which one you use.
Most of the time we use Quickbooks Online for our clients because we think its great. It’s simple to use but powerful enough to do everything you need from a bookkeeping package. It also offers great value for money. The reports that you can get out are great and hugely important if you are trying to grow your business.
Regardless of which system you use, there are some huge benefits to using online bookkeeping software for your business.
Here are our top 5 benefits of using Quickbooks online;
- Saves you time – You can set up rules to automate a lot of the recurring transactions from the bank so that they are automatically posted to the correct place for you. This will save you a lot of time and will be useful if you can’t always remember where you posted a transaction last time. The software will also automatically synchronize with your online bank account to import all of the transactions. Most systems will try and match up amounts to invoices for you too. Gone are the days of manually entering your bank account entries.
- Professional – You can import your letterhead and logos into the system enabling you to email out Quotes and invoices to customers that look professional. As the system is online you can do quotes whilst you are out at the clients, email it across and track when they have received it. You can then instantly turn quotes into invoices
- Support – We are able to login to your system at the same time as you are so if you have any problems or questions, you can get in touch and we can log in instantly to help you.
- Reports – Having got all that data at your fingertips it would be a waste not to use it. Simple reports are available to tell you which invoices are still owed to you and how much you owe to suppliers but you can get more complicated reports for project managing and budgeting that could really help you improve profits and cash flow.
- Making Tax Digital – From April 2019 all businesses with income over the VAT threshold will have to transmit information to HMRC digitally. Smaller businesses will have to comply from 2020. Although it is still a way to go yet, the sooner you get started the easier it will be to get set up on the system without any problems or fuss.
If you’d like to know more about Quickbooks or other bookkeeping packages out there, do not hesitate to send us your questions and one of the team will get back to you.