Is accounting software saving you time?
Making Tax Digital has forced the issue for businesses to jump into accounting software which promises to “make it easier for individuals and businesses to get tax right and keep on top of their affairs”.
But what we see again and again, is businesses implementing a software package but only utilising half its power.
With any software, without taking the time to truly understand how it works it’s never going to improve the efficiency of your business.
Let’s take Microsoft word as an example, most of us only use the basic functions, we have most likely just learn’t by doing or by asking our peers.
With accounting software, not only do you need knowledge of accounting but also knowledge of the system.
A recent example we came across was a client who had been using #Xero for the last year… was manually inputting all data. The result was many payments were doubled and the payments from the bank were not allocated to the invoices correctly. The payroll system, which the client was paying for was not even being used!
Xero cloud accounting is a no-brainer but only if you know how to use it! We take the time with our clients to set up systems which are guaranteed to streamline their business!
What software in your business are you using to improve efficiency?
#cloudaccounting #efficiency #PrevailAccountancy