With the changes coming in from Making Tax Digital, it is expected that more people will start to use software to keep their financial records in a digital form.
For someone just starting to look, it can seem like there are so many choices, it can become confusing deciding on which one to use.
In the past bookkeeping software could seem clunky and not user friendly, times have changed. Software providers now make beautiful seamless software that is cloud based. Gone are the days are being tied to one PC. You can even access your books on apps on your phone, sit in your garden and work on a laptop or head to a coffee shop and work from there.
It is important to check that the software you use is MTD ready, even if you are below the threshold, it is expected at some point all business will need to use compliant software. A full list is available here. This will save a lot of time and hassle in the long term.
Get a trial. Some software you will love, others you won't. Sign up for a free trial and see how it works. Have a play around, you will soon discover a favourite. It's worth spending a few hours doing this to really get a feel for what is available.
Cost - this really varies, there is great free software out there as well as subscription based software. Most of the paid versions offer a deal when you sign up, such as half price for the first 6 months or year. Don't fall into the trap of thinking you need to pay for something for it to be good. We'd advise exploring all the options to see which one is the best fit for your business. Do you need it to handle currency? Do you need it to support your bank for an automatic feed? List what you need it to do, then get in touch with the provider and check it really does support your needs.
Made a mistake? If you have signed up and have been using a certain type of software, but you can't get along with it or it just won't do what you need it to, don't feel stuck. Companies such as Move My Books can help with a seamless transition.
Still confused? Get in touch we can talk through several options with you, depending on your business needs.
Does the thought of bookkeeping still worry you? Look at using a bookkeeping service and ensure it is done correctly from the start. It's very easy to get in a pickle if you don't know what you're doing, Tidal Bookkeeping offers a great service which covers Redruth, Camborne, Truro and other areas in Cornwall, we can even cover areas further afield. Interested? Please get in touch here.
The information featured in this article is for guidance only, no liability is accepted for the opinions it contains.
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