Every business owner hates bookkeeping and paperwork.
Unfortunately it has to be done. And it has to be done in a prescribed format... otherwise the Tax Man will be on your back.
It's also difficult. That's why there are bookkeeping exams. That's why there are professional institutes like the Institute of Certified Bookkeepers.
I guess you'd much rather be out there making money from your business than doing the books. And because everyone hates bookkeeping, most people end up doing it in the evening or at weekends. Yet, shouldn't evenings and weekends be spent playing with the kids, spending time with your friends and loved ones, or out on the golf course?
A far better option is to employ a bookkeeper to get the job done properly. Unfortunately full time qualified bookkeepers typically cost £22,000, together with all the other associated costs and hassles of employing someone.
But that option is too expensive for most small businesses.
The solution is here
Technology has come to our rescue. Its called cloud accounting.
Just like online banking has changed banking forever (it's easier to transfer money in minutes, check your bank balance at any time rather than waiting for that monthly statement to arrive in the post and generally keep on top of your finances), cloud accounting has changed accounting systems.
The old-fashioned way of bookkeeping using manual ledgers, spreadsheets and desktop accounting systems will soon be a thing of the past.
Just like online banking, a modern cloud accounting system will save you a significant amount of time by automating many of the data entry processes that used to take up so much of your precious time and giving you instant access to your numbers. And that's just two of the many benefits.
Need some help setting up your online accounting system?