| If you're anything like me then you dislike with a | | | | process the bookkeeping for their clients and will |
| vengeance doing your accounts and taxes. | | | | have a working knowledge of the accounting |
| So how can you make this process easier, less | | | | software package they use. It may be cheaper |
| painful and cut your accountancy fees? | | | | for you to use the same one they do, because |
| Well buying an accounting software package is | | | | they can advise you how to get it up and running |
| one way. | | | | and will be on hand to answer questions, plus at |
| First of all you need to decide whether you are | | | | your financial year end when your accounts need |
| going to keep your accounting records manually, | | | | preparing it will be less expensive, believe me to |
| that is using pen and paper, or whether you are | | | | have a compatible program. |
| going to computerize the process. | | | | I also recommend doing some research yourself, |
| If you decide that computerizing the process is | | | | you may be able to obtain a demonstration disk |
| the way to go then you need to decide whether | | | | or download of the most popular accounting |
| to buy an accounting software package, for | | | | software packages and this will give you an idea |
| example Sage or Quicken, or whether a | | | | of how they work and if they are user-friendly. |
| spreadsheet, such as Microsoft Excel will suit your | | | | The cost may also be an issue, so you need to |
| needs better. | | | | decide on your budget. But consider how your |
| As a general rule if you are a cash business that | | | | business is likely to expand - you may outgrow |
| just needs to record income and expenditure then | | | | that budget accounting software quickly and end |
| you are better off using a spreadsheet. | | | | up buying the more expensive one anyway. |
| So, should you choose an accounting software | | | | Accounting software providers may also try and |
| package? Yes if: | | | | up-sell you a maintenance contract. Save your |
| - You have customers to whom you extend | | | | money! In my experience the established |
| credit and you buy goods in the same way | | | | software providers will not have bugs in their |
| - You process in excess of 50 transactions per | | | | systems. They will also try and upgrade you to |
| month | | | | the next version on a regular basis, but if the |
| - Your business is an Incorporated Company | | | | software is doing everything you need then there |
| (Limited Company in the UK)and | | | | is no need to upgrade. |
| - You are computer literate or are willing to learn! | | | | Of course, you could also pay someone to do |
| Before choosing the accounting software, speak | | | | your accounts for you, either your accountant or |
| to your accountants - they will be familiar with | | | | a bookkeeper - the payoff being you don't have |
| the various accounting software packages on the | | | | to do it yourself and it frees you up to actually |
| market and will be able to advise you. Most | | | | run your business! |
| accountants use software in their office to | | | | |