Why You Should Use Accounting Software
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If you’re looking for ways to make your finances easier and more accurate, it’s likely that you’ll keep coming across accounting software. From simpler recordkeeping to spot-on figures, businesses of every size are benefiting from these tools.
Here, we detail the advantages of bookkeeping software so you can see how it will help your enterprise.
Small business accounting software will make managing your finances significantly easier. Instead of having various paperwork scattered in multiple locations, your accounting documents will be in one sole place, and effectively organised. You won’t waste time searching for records. And, as the data is kept up-to-date in real-time, you don’t need to worry about looking through outdated information.
Accounting software will also help you to become a more environmentally-friendly business, with reduced paper.
Artificial Intelligence in bookkeeping software means laborious tasks, for example bank reconciliations, can be completed in an instant. You can say goodbye to repetitive administration work, instead focusing on other areas of your business.
Accounting can be tough but with appropriate software, difficult tasks such as producing accurate invoices are taken care of. For example, Liquid Accounts has a Salesman Commission Calculator and MTD for VAT Filer.
Making Tax Digital (MTD) for VAT was officially introduced by HMRC in April 2019. Unless you are exempt, your business will be required to file VAT digitally. In the future, tax is looking to go fully electronic, with MTD for income and corporation tax planned to be launched in April 2020.
In order to be compliant, you’ll need accounting software. Even if you aren’t required to meet HMRC’s new digital path yet, it’s a good idea to prepare and get used to these tools now, rather than when it becomes mandatory.
Another benefit of business accounts software is that if you choose the right one, it will integrate with your other systems too. Some, like Liquid, have an API that links up to other platforms to work together seamlessly. These include compatibility with e-commerce tools such as PayPal, Shopify, Magento, WooCommerce and eBay, as well as CRM systems such as ZigZag.
This means that every part of your business will communicate with one another, allowing for the ultimate efficiency. Not only will your finance tools be able to meet more of your requirements, but they can also be unique to you.
Select our Liquid Enterprise Optional Modules package and you can utilise bespoke software, built around your needs. Plus, there are other levels of Liquid available, including standalone solutions such as payroll software.
To determine the package for you, get in touch with our friendly team today on 0161 413 5050 or email info@liquidaccounts.com.