In 2014 it’s surprising some people are still keeping track of their business’ financial records manually, rather than using a computerised system.
If the following post + Infographic doesn’t convince you to make the move to Computerised Bookkeeping, then good luck to you!
Computerised Bookkeeping has undoubtedly become a must among bookkeepers. With our eras technological advances, a computerised system that keeps track of your books has some very clear advantages.
1. Safe & Secure
Digitalising your books will improve security and efficiency. The chances of entering an incorrect number, or setting your books on fire, or of them being hacked are greatly reduced if your transactional records are digitally stored.
In addition, most programs automatically create back-ups. Think of your digital system like a website, all records are stored online safe and secure, like an online banking account.
No more data corruption.
2. Efficiency
Your time and resources will be put to better use, as recording, finding and reading your books is greatly sped up. Most bookkeeping programs are connected to the cloud, this allows you to reach your books via laptop, tablet, PC and even mobile! Meaning that you can view your financial records from different platforms at any time of day.
3. Accuracy
If you want to view your financial position in real-time, so as to get an instant picture of the health of your business, you’ll need to use a computerised bookkeeping program. This will allow you to make more accurate analyses and thus more informed decisions. Maybe you need to get a loan, or need to check how much you are due to pay or receive my the HMRC (HM Revenue and Customs).
4. Speed
A great way that computerised bookkeeping speeds up your day is by facilitating the sharing of your financial records. No longer will you have to backup your data and then send it via email, all you have to do is create a login and voilà!
5. Cost Saving
Firstly, you will have to purchase a computerised bookkeeping program. The market is highly competitive and thus you will be able to find a wide variety of programs.
For £200 to £750 you can invest in a SAGE system, or you can choose a cheaper alternative. There is a varied choice of free and low cost packages (i.e. under £100) such as: Kashflow, and even some for free e.g. TurboCash. Take your time to browse through the different options, to make things a little bit easier for you there are plenty of reviews that compare different products:
- Best free accounting software: 8 programs we recommend
- 2014 Best Accounting Software Comparisons and Reviews
Once the first investment has been made your record’s security, efficiency, speed and accuracy, will decrease the overall costs associated with traditional bookkeeping.
Moreover, you’ll save money on office supplies and travelling costs, plus it’s green! Less paper = Less trash.
And remember, this purchase is an investment, so try to include the costs when you’re deciding how much to charge your clients.
Next Steps? Get Qualified
All bookkeepers start their career with manual bookkeeping training. But the best don’t stop there. Successful bookkeepers make the transition from manual bookkeeping to computerised bookkeeping sooner rather than later.
To do this you will need to take a certified training course and get personal experience with various bookkeeping programs.
There are some very useful free online resources, such as the Bean Counter, which can definitely help you with your training.
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