As an entrepreneur or business owner, the one thing you’re limited to every day is time. And it can sometimes seem like there are not enough hours in the day to get what you want to do. And there certain tasks such as administration and financial tasks that must be completed and are crucial to the day to day running of your business. However, there are tools at your disposal out there so that you can save yourself time. For example, with your administrative tasks, you can outsource these to a virtual assistant meaning that you’re not spending over an hour each day responding to emails and booking appointments. And when it comes to your accounts, there are plenty of tools out there that can make your life easier and that is what we’re going to look at today.
When you’re registered to Quickbooks you can either you the desktop version or the online version. However, if you’re wanting to use it whether you’re on your smartphone or work laptop you’re probably best-using Quickbooks online. If you’re a sole trader or a limited company you’re probably best opting for their ‘simple start plan’. The reason why Quickbooks can make your life easier is that it’s a one-stop-shop that can show you everything you need to know about your business accounts.
These features include being able to create and send invoices as well as closely monitoring and tracking both your income and expenses. If you’re a relatively small company in terms of employees this can be beneficial however if you have a lot of employees it can become expensive in regards to getting them paid
Xero has released a mobile-friendly application that allows or business owners and entrepreneurs just like yourself to track your expenses on your smartphone wherever you may be in the country. This is highly convenient as if you’re a petrol station or a toll gate you’re not always going to have time to get your laptop out to track this expense and if you leave it until you get to your destination the chances are you may have forgotten and that we’ve been one more expense gone you could’ve claimed on. Whereby with the app you can capture the expense there and then.
If you are a Natwest customer you will receive access to this one for free. It isn’t a system that we have used as a company but it is one that we will be looking at reviewing in the future.
If you want to know more about how accountancy tools can help save you time throughout the year and make your life easier so that you can focus on your business get in touch with the team here at D&K Accounting.