Key tax dates and deadlines for 2018/19
It is an inevitable reality that, for anyone earning a livin...
By Lynne Gowers on 8th May 2017
Accounting software opens up a whole new world to managing your business finances. In what is already a crowded market, it can be difficult at the outset to determine which platform is the best fit for your business.
The first step is to figure out the primary reasons why you need accounting software in the first place. How will it make your business – and your life – better?
There are a lot of great accounting software packages out there, but before settling on a specific product, it helps to take a step back and carefully consider what you want to do with it and more importantly, what you want it to do for you.
Identify your needs in this area by asking yourself the following questions:
What are your business goals?
For example you might want to increase your turnover or market share by a certain percentage over a given time. Accounting software includes features which can help you realise these objectives.
Who is going to use it?
If you have partners or employees they should have a say in the functionality of a new accounting system. Most accounting software products gives access to multiple users. This includes your accountant, so if in doubt, ask what they think is the most suitable for your business. Boox offer a free service consultation to discuss your business needs and advise which of the software packages we support is the best solution for you.
What day-to-day functions do you require?
This might sound like stating the obvious but it helps to be clear on what bread and butter financial tasks you need your accounting software to perform. These include:
What needs are specific to your business?
This is where the more sophisticated features of accounting software can come into play. For example, if you trade online you will want a system that can integrate with your e-commerce solution, or if you are supplying outside the UK, you need software that automatically converts currencies at the right exchange rate.
To all intents and purposes the future of the UK tax system is digital. That means that businesses using old-school accounting methods will have to make significant changes over the next few years to avoid getting left behind. Accounting software is the best way to comply with these changes and put you in the driving seat for the digital tax era.
Whichever platform you decide on, you won’t be on your own. We’ll help you set it up, from transferring data from your current system to setting permissions.
If you already have an accounting software solution in place, all you need to do is add Boox as a user and we can start working with you right away.
Need more help? Our free guide can help you choose the right accounting software for your business. Just click on the link at the top of this page.
Take a look at our recent blogs below.
GDPR – the General Data Protection Regulation, comes into effect on 25th May and is the bigges...
Published: 24th May 2018
As a business owner, your time is way too precious to spend hours dealing with HMRC or Companies Hou...
Published: 14th May 2018
“Never do tomorrow what you can do today. Procrastination is the thief of time” Charles Dicken...
Published: 11th May 2018
Congratulations! The very fact you clicked this far shows you are considering employing staff, and t...
Published: 17th April 2018
It is out with the old and in with the new when it comes to tax relief on childcare costs from April...
Published: 9th April 2018
The Boox accounting app has always been at the forefront of helping our clients understand their com...
Published: 26th March 2018
Spring has officially sprung and the start of the 2018/19 tax year is just around the corner –...
Published: 23rd March 2018
If your business is employing staff, you should already have a workplace pension in place, under the...
Published: 23rd March 2018
At this time of the year we are used to seeing the Chancellor holding aloft the red box ahead of the...
Published: 15th March 2018
A dispute has erupted between the BBC and 170 of its presenters over their tax arrangements and thei...
Published: 12th March 2018
The rush for taxpayers to file their 2016-17 self-assessment tax return is over for another year, an...
Published: 27th February 2018
If you need a little help to find the right accountancy service, don’t worry.
Get in touch with our friendly team for a FREE service consultation.
Thousands of contractors, freelancers and locums turn to Boox for help and advice with their limited company accounting. They love our personal service and app.
Specialist accounting for sole traders and the self employed, Boox combines easy online tools with expert support to take away the stress of handling your accounts.
Our combination of market-leading accounting software and expert personal advice gives you greater financial control and more time to grow your business.