To thrive in the business world these days, you need some sort of digital tool for your various processes. And, the financial department of your organisation can be the most beneficial to streamline with software. Not only will it enable your SME to achieve maximum efficiency, but also minimise the time you spend on laborious accounting tasks.

But, there’s not just one type of bookkeeping software. There’s a whole host of tools, making it difficult to decide which will help your enterprise the most. Thankfully, we’ve put together the five best ones.

1. Invoicing

When clients pay you, you’ll want to make sure it’s the right amount, and as soon as possible. However, it can be easy to make mistakes with invoices – and you can spend a considerable amount of time chasing them for the owed sum.

Invoicing tools will take it off your hands. You can automate the entire process – from creating, sending and following up. The likelihood of errors is reduced, and you’ll also have complete overview of your invoices, and how they affect your cash flow.

2. Payroll

On a similar note, employees also want to be paid correctly, and on time. You can keep staff happy by streamlining the process.  Payroll tools will also help you to comply with specific legislation and generate actual payslips with the relevant amounts deducted.

On top of this, it has advanced capabilities too, such as assessing team members for pension auto-enrolment.

3. MTD

Tax has legally gone into the digital age. Apart from those who are exempt, businesses have to file their taxes following HMRC’s electronic path. This is only for VAT so far, but it’s expected to be rolled out to income tax and corporation tax as soon as 2021.

Having accounting software that is MTD-compliant is absolutely essential. But it’s not just mandatory – it’s beneficial for you. By using a VAT Filer, you can take advantage of features such as one-time-only data entry and two-way communication with HMRC.

4. Sales and marketing integration

Your business would be nothing without sales and marketing. And, if you can get tools that integrate with these aspects, you’ll reap the rewards. The Liquid Accounts bookkeeping software links up with platforms such as the Capsule CRM.

Plus, our tools connect with e-commerce. So, if your SME is on the digital frontline, then you can ensure finances are working in tandem. Our compatibility includes Shopify, Magento, PayPal and eBay. And we’re only adding to our list of integrations.

5. ERP software

Integration is part of a fantastic Enterprise Resource Planning (ERP) software. This will allow you to take your business to the next level by automating various processes such as assets and stock – not just accounts.

Everything can be brought together and streamlined via Liquid’s enterprise business accounts software. You’ll save time and money, and boost productivity. It can literally do everything – from its unlimited invoicing functionality and stock control, to payroll and its VAT Filer. Liquid has even integrated with payment providers like SumUp and Tilgo.

To discover more about the modules of our small business accounting software, get in touch with our helpful team today. Call us on 0161 413 5050 or message us on info@liquidaccounts.com.

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