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Computer hardware

How to choose the right computer equipment for your business to increase your productivity and efficiency without it costing the earth.

Business software

Business software helps you complete a range of tasks. Choose the right software, provide support and train your staff with our introduction.

The internet

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.

Communications

Good communication with customers, partners and suppliers is vital for business success. This summary explores business communication methods.

IT security

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.

Buy and manage IT

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

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.

Staff and IT training

Getting the right IT is just the first step. Appropriate training, policies and working practices can help you maximise return on your IT investment.

Business software

Accounts software helps you track and manage your company finances, ensuring you keep on top of your business accounts.

It can save you time and money by automating tasks and allows you to understand and predict your cashflow.

Do you need accounting software?

Unless your business processes very few transactions (ten or fewer a month), 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.

What accounts software can do

Accounts software can be used to perform these core accounting tasks:

  • Creating invoices, estimates and other documents for customers. Most accounting software makes it very easy to raise and send invoices.
  • Bookkeeping. Maintain sales and purchase ledgers, carry out invoicing and track payments.
  • VAT calculations. Automatically calculate the VAT your business owes at the end of each VAT period.
  • Management reporting. Generate reports to help you understand the state of your finances.
  • Tax calculations. Generate and submit tax returns to HMRC automatically.
  • Credit control. Examine which customers have missed payments and send out reminders or charge them interest automatically.

More advanced business accounting software can carry out additional tasks like running payroll, stock control and recording purchases made through a retail point of sale system. These functions often require the accounts software to be integrated into your other business systems.

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.

Types of business accounting software

Accounts software can be divided into three broad groups:

  • Solo accounting software is designed for use by a single person. These basic packages may contain all the functions a sole trader needs, though most are designed for personal and not business use. They tend to be cheap – often less than £100 - and are a good introduction to accounts software.
  • Small business accounting software can perform most or all of the core tasks listed above. These packages are more expensive (over £100) but will meet the accounting needs of most small businesses. Most companies start with software of this type.
  • Advanced accounts software usually comes as a series of modules, each designed for a particular function. You choose which you need. This gives you possibilities for expansion, but costs more (£500+).

You can opt for traditional desktop accounting software (which you install on your computer), or online accounting software, which you log in to through a web browser. It's a form of cloud computing and a good way to get the benefits of accounts software with lower management costs. It also has the benefit that you pay on a monthly basis and can spread the cost rather than paying up front.

Online accounting software is inherently more flexible, because you can access it from any internet-connected device. Many packages can also be accessed from mobile phones.

Get the right accounts software

When choosing business accounting software, build a set of finance software requirements. Consider what you want to do with the package, but also make sure it will be compatible with your existing business computer systems.

For example, will it run on the operating system you use and be able to link to your customer database? How much training will your staff need?

Accounts software publishers often produce other business software, like customer relationship management packages. These programs may be designed to link together, so consider picking a single software company and sticking with them.

If your business uses an accountant, consult them before choosing your office accounting software. It may be advisable to find a package which can integrate with your accountant's systems.

Finally, remember that your accounting software requirements will probably change as your business grows. Look for a package that can be easily upgraded as required.