Innovative bookkeeping solutions

It’s that time of year when businesses and individuals have been in a race against time to complete their annual tax returns – and sadly some don’t hit the deadline and face unwelcome penalties for late submission.

After yet another frenetic year end, which saw the team at Wright Vigar dealing with many last minute returns for clients, and in some cases included going through “shoeboxes” of invoices and receipts, we feel now is the ideal moment to encourage people to make a change for the better.

When asked, most entrepreneurs and owners will say that they set up their business because they had a strong desire to work for themselves and ‘follow their dream’ – it’s rare that ‘record-keeping’ and ‘completing forms’ scores highly on their list of motivational factors.

To assist the busy business owner there are many different bookkeeping options available in the market place – and thought should be given to which system is most fitting for each individual and their business requirements – there is no ‘one size fits all’ solution.

However, a solution that seems to be proving extremely popular in both its practicality and ease of use, is cloud-based accounting solutions, as all you need is your laptop, tablet or smartphone and internet access, there’s no installation, just log on and go, it is that simple.

The ease of access of cloud based solutions means you are never tied to one location; you can log on anywhere in the world, provided you have internet access, and start working.

By using “real time technology” – and allowing your accountant shared access to your account – both sides have up-to-date information at their fingertips. It can also be much more cost-effective for the client and does away with that pressure-filled year-end problem.

Additional benefits to utilising this modern software is the range of add-ons available to you. Add-ons are programmes that will work seamlessly with your cloud based solution helping you to achieve maximum efficiency within your business.  Add-ons can cleverly automate a number of time consuming tasks, for example if you run a website, shop, café etc. you can now have your sales data posted straight in your software, taking out a major data-inputting chore.  Bank reconciliation can also be automated and as with all new technology, exciting additions to functionality are constantly being announced.

If one of your new year resolutions is to take the eleventh-hour headache out of dealing with any future tax returns, please contact a member of the Cloud Software team at your local office, or call Nick Ferriter on 01522 531341 or email us at action@wrightvigar.co.uk – we would be delighted to hear from you!