What are the benefits of online accounting software?
If you’re a small business or sole trader looking at how to do their accounting, choosing an online software is a great option. Intuitive online solutions have lots of benefits to save you time, get organised and understand your finances. Plus, there are lots of things to consider when choosing the right software for you. In this guide, we’ll talk you through the process.
Why you should consider using an accounting software
Save time to focus on what matters to you
As an entrepreneur you shouldn’t spend time discovering the intricacies of accounting or juggling receipts and expenses. Instead, you should spend this valuable time developing your ideas and business.
Get organised and minimise errors
It’s easy to lose or forget about receipts and invoices. With an accounting software, everything is organised in one place to be reviewed, reminded, reprinted and re-sent in case of problems.
Get a better understanding of your financial health
No matter the size of your business, you always want to know how it is performing. With accounting software you will get accurate snapshot of your financial health with deeper insight on profits and losses, expenses, tax summaries and more.
How to choose the right software?
When making the decision on which software is best for your business, ask yourself the following questions:
What’s the size of business?
Some softwares are designed for large enterprises others for small businesses. You should make sure that you are selecting the one that fits your needs today but could also scale with your business.
Which features do you absolutely need?
Start by defining your needs and make sure that the software you are looking at offer those services and features.
What is your budget?
You should ask yourself if you want to spend money on an accounting software, and if so how much you are willing to spend. Some great tools are available for free. Others offer lower cost to quite expensive packages.
How familiar are you with accounting?
Are you a beginner or advanced in accounting? If you’re a beginner you might want to choose an easy to use software providing you with help guides and support.
Bokio might be the right tool for you
Our completely free software is helping over 70,000 small business owners do their own bookkeeping, invoicing, and payroll management.
It’s really easy to use, and has guides, tutorials, and the unlimited help from our support team to make doing your accounting smoother and even fun!
Whether you have limited, sole trader, or limited partnership company, our mission is to make your business successful.
How to transfer to another accounting software
If you’re already using an accounting software, it can feel scary to transfer to a new one. Like many of our customers you might ask yourself:
What if the transfer goes wrong and I lose all my data and records? What if I have to redo all my bookkeeping from previous years before I can start using the new software? What if I’m in the middle of a fiscal year and have to redo all this year’s bookkeeping?
It is actually much easier and safer than you think!
Simply look into the settings of your current system and export your data. This will not remove the data from your current system.
Once you have created an account in the new software look for the import of previous bookkeeping data. And you are all set! Most software will help you, if not do it for you.
Want to try Bokio?