We are living in an ever-changing technology era where businesses are moving away from paper records and having to reconcile balances by hand. The capabilities of current day accounting software are helping reduce the manual intervention and strains on bookkeepers and internal management.
Today’s accounting software can now connect directly to your online banking, invoice automation and cloud-based storage for invoices but if you don’t utilise the technology available, then what good is it?
The advancement in technology has allowed greater opportunities for business owners and management to access real time information at the click of a button. Having the ability to review real time profits, spending and cash reserves in an instant can provide opportunities to identify any possible issues before they become a problem.
Let’s not forget the benefits to your accountant, who can now review your financial position on a regular basis and provide tax planning opportunities throughout the year.
Accounting software can also be tailored to meet the needs specific to your sector. For example, there are several software options available that are dedicated to the legal sector to simplify the accounting process for solicitors.
If the technology is not being utilised to its utmost, then the growth potential of the business may be adversely impacted. As extensive users of accounting software ourselves, we have an in-depth knowledge of the software options available. We can review your existing system, assess your future requirements, and identify components that are working for you as well as those that need improvement or change.
For more information on how we can support your business, please contact our EQ Professions team via professions@eqaccountants.co.uk or call one of our offices.
Alternatively, if you would like to discuss if your accounting software meets your needs, please get in touch with our EQ Accounting team on info@eqaccounting.co.uk.