Bookkeeping Software

Don’t underestimate the importance of finding software that’s easy to use. In this context, “interface” covers how a piece of software looks and functions for the user.

An easy-to-use interface might include features like:

• A well-designed page with different sections adequately spaced out, making the text easier to read
• A clear navigation system making it simpler to find the area or functionality you’re looking for
• Handy “help” areas where you can tap or hover over a word or icon to access a quick explanation of what it means
• A tutorial mode or a help centre with easy-to-follow instructions or video guides.

The best way of figuring out whether a piece of software is easy to use is to try it out. Many UK bookkeeping software providers will let you sign up for a free trial or engage with an interactive demo.

One of the core functions of bookkeeping software is allowing you to track and manage purchases, expenses, and mileage.

Whether you’re logging this data for your own business or on behalf of a client, many bookkeeping solutions will enable you to manage the functions behind them.

For example, alongside logging an outgoing figure for an expense purchase, bookkeeping software like IRIS KashFlow Accounting allows you to photograph and attach the receipt to the record.

Double-entry bookkeeping (or double-entry accounting) involves recording every transaction twice; once as a debit and another as a credit.

Double-entry bookkeeping makes it easier to keep the books ‘balanced’ and detect errors or financial fraud. It’s pretty much the standard; certainly for professional bookkeepers or accountants.

All good bookkeeping software will incorporate the double-entry bookkeeping method. However, it’s worth checking that the software you’ve set your heart on automates that for you.

All you need to do with solutions like IRIS KashFlow, for example, is log your transaction into your system once. The software sorts out the double-entry accounting for you automatically.

Look for an accounting or bookkeeping solution that lets you easily connect your bank accounts – however many that might be – to the software you’re using.

This means that whenever you spend or receive money via your business accounts, the transaction data automatically flows into your bookkeeping software. This allows you to:

• Maintain a real-time overview of cash flow
• Reconcile payments instantly
• View up-to-the-second balances without any delays.

The world is becoming increasingly digital, and tax is no different.

Your bookkeeping software should support Making Tax Digital (MTD) for Income Tax Self-Assessment; that means it needs to facilitate your submitting your tax return online directly to HMRC.

Whether you submit the tax return or have someone else handle it for you, having your accounts prepped and ready in your bookkeeping software can make the whole process a lot simpler.

Cloud bookkeeping software is a deceptively powerful tool; it ensures every piece of your data is backed up, your system is always up to date, and your server isn’t being weighed down by memory-heavy desktop software.

When a bookkeeping solution is cloud-based, it’s accessed purely via the internet. All you need to fire up your system is a digital device with a web browser and an internet connection.

This makes accessing your bookkeeping service software even easier because you can log in via your phone, laptop, tablet, or other device.

While logging into your bookkeeping software via an internet browser is convenient, if you’re accessing your account on your mobile phone, being able to fire up an app is even easier.

Many solutions like IRIS KashFlow provide a complimentary bookkeeping app to make accessing your accounts and logging transactions even easier.