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At present, you can continue using a spreadsheet if you wish, but investigating the available software options now will prove beneficial, particularly as your business grows and you will have less time available to spend working on your business finances and accounts.

The use of bookkeeping software can help your business in so many ways:

  • Raising your sales invoices for you and automatically entering them into the software
  • Faster and easier way to keep track of what your customers owe you and what you owe your suppliers
  • Up-to-date management information which may be needed for lenders or suppliers who are offering credit, or for better business planning
  • Multiple staff can access the software to help with recording new information, generating reports or approving payments
  • The ability to spot issues that may crop up with your business finances meaning you can take immediate steps to rectify problems
  • More efficient use of your time
     

Once the system is set up and you are fully trained, the use of software can make the bookkeeping process so much more efficient.  Alternatively, your bookkeeper could do your bookkeeping for you, and you could use software to capture and submit your invoices and receipts, making the bookkeeping process even smoother.

If you would like any advice or assistance in this area please contact us on 888 547 9295 or use our simple online contact form to arrange a free initial consultation.

Date published Nov 4, 2021

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

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