How to choose the right computer equipment for your business to increase your productivity and efficiency without it costing the earth.
Business software helps you complete a range of tasks. Choose the right software, provide support and train your staff with our introduction.
It is highly likely that you depend on the internet for some aspects of your business. Find out how you can use the internet more effectively.
Good communication with customers, partners and suppliers is vital for business success. This summary explores business communication methods.
How would you cope if your IT system failed or was breached? We cover the main IT security issues and how to protect against them.
Good IT management can help you choose, use and implement IT. Our overview helps you manage IT in a way that maximises the return on your investment.
IT support is vital if you rely on your IT system. But how can you set up an effective safety net in case things go wrong? We explore the options.
Getting the right IT is just the first step. Appropriate training, policies and working practices can help you maximise return on your IT investment.
Accounts software helps you track and manage your company finances, ensuring you keep on top of your accounting. It can save you time and money by automating bookkeeping tasks, improving cash flow and financial management, and making it easier to prepare tax returns and annual accounts.
Unless your business processes very few transactions, you will probably benefit from using accounts software rather than doing your accounts on paper. Accounts software eliminates the need to enter information more than once and carries out laborious calculations automatically.
Businesses that are registered for VAT generally need to keep digital records and file VAT returns online. Under Making Tax Digital, increasing numbers of businesses will eventually need to file tax returns online.
Accounts software can be used to perform these core accounting tasks:
Accounting software can also offer additional functions like running payroll, stock control and recording purchases made through a retail point of sale system. These extras may be available as optional ‘modules’, or by linking other software packages into your accounting system.
For instance, an accounts package could be tied into your website to record online sales, or could link to your customer relationship management (CRM) software so you can see which customers are most profitable.
Accounts software can be divided into three broad groups:
Online accounting software (and modern apps) are inherently more flexible than traditional desktop software. You can access the software from any internet-connected device.
When choosing business accounting software, think about your business and financial management needs. Consider what you want to do with the package, but also make sure it will be compatible with your existing systems and ways of working.
For example, what other systems do you use and how should they link together. How much training will employees need to be able to use the new software effectively?
If your business uses an accountant, consult them before choosing your office accounting software. You will want a system that makes it easy to share information and work together.
Remember that your accounting software requirements will probably change as your business grows. Look for a package that can be easily upgraded as required.
Be prepared to invest in learning how to make the most of your accounting software. While basic bookkeeping can boost efficiency, the biggest benefits often come from using accounting information to improve the way you manage your business.
