Still using an accounts spreadsheet?
Q: How do you do your bookkeeping at the moment?
A: I list all the transactions in a spreadsheet and send it to my accountants. They do what they do and send it back to me but it’s always full of errors. So I end up checking my own work and I wonder what I’m paying them for!
Now, some people just won’t change. You can lead a horse to water etc. But in this case the business owner and the accountant are both doing it wrong and should both change the way they work.
Put simply – all businesses should be using accounting software. Why?
Because accounting software:
- Has never been cheaper or more accessible
- Simplifies your bookkeeping, makes it cheaper and (ideally) paper-free
- Connects your business with your accountant
- Produces useful financial information you can act on to improve profits and cashflow
- Makes compliance easier and cheaper
Although bookkeeping is essential, much of it should sit below the surface, ticking over like a well-oiled machine, producing useful financial information before it’s needed.
Most businesses have similar transactions year-in, year-out and they should be dealt with routinely letting technology deal with as much of it as possible.
Your objective as a business owner is to make sustainable, growing profits and your finance function should be a solid and scalable foundation for those profits.
And if either you or your accountant is still wedded to spreadsheets then you need to press F1!
Visit our dedicated cloud accounting service page to learn more about how we can work together and move you off the spreadsheets.
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