If you own a business, it’s likely that you’ve heard about bookkeeping software. Not only can it make managing your finances easier and more accurate, but it can also push your organisation to the next level.

Here, we explore the software and explain why you need it for your enterprise.

What is bookkeeping software?

To put it simply, accounting or bookkeeping software is software that carries out general tasks relating to your accounts and finances. It’s a place that business owners can store business data and perform financial transactions.

With so much software out there, it can be difficult to determine which one will suit your business. However, generally, all small business accounting software will provide useful tools for making payments, invoicing, payroll, bank reconciliations and more.

Why does my business need bookkeeping software?

From boosted organisation to simpler recordkeeping, lots of businesses are benefitting from these tools. With the more repetitive and simpler tasks taken care of, you’ll be able to focus on relationships with clients, and other aspects of your business.

In addition to this, the right software can help your business comply with new laws and regulations. Keeping up to date is essential for any business. Earlier this year, HMRC introduced Making Tax Digital (MTD) for VAT and this is expected to be rolled out to other forms of tax. Now is the time to familiarise yourself with this new technology and get ahead of the game.

How will bookkeeping software take my business to the next level?

Such software doesn’t just mean you can reduce the amount of time you spend on your business accounts, it can also boost business growth.

Improved organisation – With paper accounts a distant memory, you’ll be able to find your documents in one place. Find any file with just a click of a button. Sifting through hundreds of documents scattered across the office will be a thing of the past.

Compatibility with other systems – As a business owner, you’ll want everything to work seamlessly. With the right software, you can merge your existing systems, making your transition to online accounting quick and easy. You’ll be able to integrate with e-commerce platforms too (PayPal, Magneto, eBay) ensuring all parts of your business run and communicate effortlessly.

Boosted efficiency – With the appropriate software, time-consuming tasks can be completed quickly. It can be used to produce invoices with accuracy as well as completing laborious tasks such as bank reconciliations. You’ll be able to keep up to date with all your business accounts, without the worry of mistakes and errors.

With Liquid’s bookkeeping software, you’ll have all of the above as well as access to a team of experts who are always on hand. To discuss how our software could help your business, get in touch with our friendly team today on 0161 413 5050 or email info@liquidaccounts.com.

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