You can’t leave it all to tech.
Bookkeeping is tricky. Especially for small businesses, when you are juggling a million other things. So, it’s understandable that you want to ease the burden of this task any way you can. Nowadays we can turn to technology to solve most of our problems, and bookkeeping is no exception. You may have even seen adverts praising digital bookkeeping aids. Popular software like Xero and Quickbooks promise to make bookkeeping easy, help you track and manage expenses and stay on top of taxes. But how true is this?
What bookkeeping software does
Quickbooks promises three major things:
- The ability to stay on top of taxes
- The ability to track and manage expenses
- Keeping data that allows for ‘no-nonsense’ payroll
This technology is all designed around one central premise: streamlining your bookkeeping experience. Everything bookkeeping software do is about using technology to save you time.
The bottom line is, using online software depends on you. Your ability to use this software depends on how much you know about bookkeeping and how up to date you are with recent legislative changes etc. For example, Quickbooks and Xero both rely on the use of VAT codes. But they do not provide support on what these are, and how to use them. For all their data and efficiency, they do not help much if you don’t know a lot about bookkeeping. As a result, relying on this software means taking a big risk depending on how much you know. If you are not confident with your books, you would still be better off using a bookkeeper.
What a bookkeeper does better
Having a personal bookkeeper involves all the benefits of bookkeeping software and more. They help you keep on top of your VAT returns, payroll and tax obligations. A bookkeeper also helps you track and manage your expenses, produces debtor and creditor reports to help with your cash flow and daily management of your business. They provide you with industry-specific knowledge and help you make more educated business decisions. This means you receive support all year round with any bookkeeping queries you might have. With a bookkeeper, you are not reliant on technology. QuickBooks and Xero are fantastic tools that can automate a big part of the bookkeeping process, but when it comes to technology, errors made by automated systems cannot be avoided and need somebody with experience and knowledge to check if the entries and codes are correct. Using a bookkeeper allows you not to be reliant on the software and automatic data entry. A bookkeeper also assures that your business is compliant, you meet all the deadlines, and your information is archived properly. Thanks to this you can avoid costly mistakes, save time and money. knowing that your business finances are in good hands.
For a reliable and professional bookkeeping service, contact your nearest Rosemary Bookkeeping business today.