Bookkeeping Software for a New Limited Company
Choosing the right Bookkeeping Software for a New Limited Company is an important step as it determines the ease of managing Cash Flow, and managing Tax compliance for the future. The ease in which staff can be trained in to use the software is key so an easy to use platform is important to flatten the learning curve for employees. There are a few areas to consider regarding your choice.
It should be easy to use.
One of the biggest reasons clients switch from other providers is because the bookkeeping software is cumbersome. Bookkeeping software should be easy to use so you can spend more time on the areas of your business you need to.
It should be browser based.
Not all software is browser based but many systems are converting to browsers. Systems that are saved and run from a client PC are generally less secure than a system based in the cloud. Cloud based systems stored on Amazon AWS for example are more secure, and also faster to run in your browser.
It should calculate Tax
The system should take VAT on sales and purchases into account when invoicing and preparing purchase invoices for VAT returns. VAT and Tax functionality should be fully customizable for your country.
It should integrate
Most systems that invoice will now integrate with payment systems like Stripe or PayPal, and will also allow for Bank Feeds. Bank feeds will feed Debits and credits into your bookkeeping software as they appear on your bank account.
It should be cost effective.
Cloud bookkeeping software should not cost the earth. One price should cover all users on the system.
It should have all the services you require.
Before choosing your software ensure that it provides for all the services you require. We recommend eFolioAccounts.com as it is easy to use, and includes as many users, as you need to have access to your company finances.