Originally written by Alice Feilden on Small Business
Cloud and SaaS accounting systems are becoming ever-more sophisticated and more widely used. In essence, they are web-based software programmes which users rent or subscribe to. The advent of such services means businesses no longer own the software downloaded on a disk or computer. Instead, subscribers can use the internet to access their financial information.
Small business accounting can be a challenge, but it needn’t be. Below, are five advantages of using an cloud-based and SaaS (software-as-a-service) accounting system for your business:
1. Time saving
One of the benefits of internet-based accounting software is its ease of use. You can set up an account so that information about your finances — including sales, income, purchases and transactions — can flow straight from your business account to your books.
Using desktop-based softwares, from the advanced to the Excels of the world, can be clunky and mean small business owners must manually input bookkeeping data. This can waste time and prove expensive for a streamlined team. With the cloud, entrepreneurs can essentially go ‘hands free’, which means spending less time on repetitive accounting tasks and more time on growing the business.
2. Easy access
The beauty of cloud and SaaS accounting software means
Tag Archive for Accounting
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Cloud and SaaS accounting — what are the advantages?
by Alice Feilden • • 0 Comments
Originally written by Alice Feilden on Small Business
Cloud and SaaS accounting systems are becoming ever-more sophisticated and more widely used. In essence, they are web-based software programmes which users rent or subscribe to. The advent of such services means businesses no longer own the software downloaded on a disk or computer. Instead, subscribers can use the internet to access their financial information.
Small business accounting can be a challenge, but it needn’t be. Below, are five advantages of using an cloud-based and SaaS (software-as-a-service) accounting system for your business:
1. Time saving
One of the benefits of internet-based accounting software is its ease of use. You can set up an account so that information about your finances — including sales, income, purchases and transactions — can flow straight from your business account to your books.
Using desktop-based softwares, from the advanced to the Excels of the world, can be clunky and mean small business owners must manually input bookkeeping data. This can waste time and prove expensive for a streamlined team. With the cloud, entrepreneurs can essentially go ‘hands free’, which means spending less time on repetitive accounting tasks and more time on growing the business.
2. Easy access
The beauty of cloud and SaaS accounting software means
Hot Business News Today
The EU VAT e-commerce package: how accounting can help
by Dan Matthews • • 0 Comments
Originally written by Dan Matthews on Small Business
On 1 July, the European Union will change the way in which VAT is reported and paid, potentially impacting anyone in the UK operating a business selling products & services online to consumers and practicing distance selling.
“The Covid-19 pandemic has caused a big shift in working patterns and, as a result, a lot of people have out of necessity or opportunity taken to start up an e-commerce business or switch to digital selling,”
“The change to EU VAT reporting will help. It’s designed to simplify tax reporting, promote ecommerce and increase online cross-border transactions. It will support small business and remove barriers in a post-Brexit environment.” says Asif Chaudhry, Director, Product Marketing at Sage.
What will change?
The changes are that for sales to consumers (basically anyone without a VAT registration) the VAT is charged based on which country the customer is in, not the country of the seller. Prior to this date there were thresholds, and businesses selling below these thresholds could charge their home VAT rates which avoided needing to know many different VAT rates.
Alongside this change the EU is expanding their one stop shop (OSS) simplifications which optionally allow businesses outside of the
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Top 5 accounting software providers for UK small businesses in 2021
by Nick Ismail • • 0 Comments
Originally written by Nick Ismail on Small Business
Check out this list of the top 5 accounting software providers for UK small businesses in 2021.
var appWikiRequestUrl = “https://appwiki.nl”;
How is this top 5 composed?
These accounting software providers are selected based on the business type for which they were developed, (expert) reviews and the possibilities and functions.
Important functions include pending payment reminders, linking with the Tax Authorities (for electronic VAT and IB returns), the use of mobile apps for submitting receipts and other documents, and time registration.
Choice for accounting software providers: what should I take into account?
The range of accounting software providers is wide. How do you make a wise choice? There are a number of things that you have to take into account when choosing.
1. Your business form
Accounting programs aim for specific business forms. Some are more suited for self employed people and some are better for those handling more complex financial challenges for bigger companies. So look for software suppliers that have a broad customer base within your business form.
2. Number of billable clients
Take a good look at the number of billable clients that can be used within the program. With a number
Hot Business News Today
Top 5 accounting software providers for UK small businesses in 2021
by Nick Ismail • • 0 Comments
Originally written by Nick Ismail on Small Business
Check out this list of the top 5 accounting software providers for UK small businesses in 2021.
var appWikiRequestUrl = “https://appwiki.nl”;
How is this top 5 composed?
These accounting software providers are selected based on the business type for which they were developed, (expert) reviews and the possibilities and functions.
Important functions include pending payment reminders, linking with the Tax Authorities (for electronic VAT and IB returns), the use of mobile apps for submitting receipts and other documents, and time registration.
Choice for accounting software providers: what should I take into account?
The range of accounting software providers is wide. How do you make a wise choice? There are a number of things that you have to take into account when choosing.
1. Your business form
Accounting programs aim for specific business forms. Some are more suited for self employed people and some are better for those handling more complex financial challenges for bigger companies. So look for software suppliers that have a broad customer base within your business form.
2. Number of billable clients
Take a good look at the number of billable clients that can be used within the program. With a number
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This Microsoft Excel Accounting and Finance Course Can Help Your Business's Efficiency
by Entrepreneur Store • • 0 Comments
Hot Business News Today
Why Accounting Skills Are Indispensable for Entrepreneurs
by Anna Johansson • • 0 Comments
Get a better grasp on your company’s finances and help master the financial side of your business.