When it comes to small business accounting, let accounting software packages do the heavy lifting to get you instant payment
With the tightening of Covid restrictions, many small businesses and freelancers have had to put their face-to-face work on hold. This break in business could be the perfect opportunity to get on top of administrative tasks and transition to using accounting software. For a growing small business, one of the best investments you can make is signing up for a good accounting software package. In an instant, payments and bills can be reconciled leaving you with more time to focus on other areas of your business. And now they come with secure payments capability too, so make sure you pick one with Ordo integrated for secure and instant payments to round off the admin blitzing opportunity.
Why use an Accounting Software Package?
If you have been getting along without accounting software up until now, maybe you’re wondering why is it a good idea to start using them. First, they keep you organised and up to date with your finances. All your income and expenses are in one place making up your accounts, so transactions are reflected in real-time without you having to enter them manually.
Organise your finances…
Because they keep everything in one place, accounting software saves you oodles of time and helps you avoid mistakes. Instead of having to enter information multiple times or scrounge around your office for receipts or a client’s contact information, these packages store all the data you’ve imported making it easy to reference in the future. Much handier and more convenient than spreadsheets!
Simplify your accounting…
Finally, they simplify many accounting tasks that would normally eat away at your day when you do them on your own. They can quickly produce invoices and calculate VAT. Some packages also generate reports that help you analyse your income and expenses, giving you insights into how your services are selling and how much tax you owe, among other things.
The Big Names in Accounting Software Packages
Three of the big names in accounting software are Quickbooks, Xero, and Sage. All have various price points aimed at micro-businesses to larger organisations. Quickbooks even has a plan tailored towards self-employed people which estimates income tax and separates business from personal transactions. All of the packages allow you to create invoices and calculate and submit VAT. There are many other time-saving features at different price levels that can do everything from tracking your mileage using GPS in your phone to capturing bills and receipts for automatic entry into your accounts.
And now you can automate and get electronically smart with the payment end of your accounting too. Whether you’re a current or new user of Quickbooks, Xero, or Sage, Ordo can work with your accounts saving you even more precious time. Not only does Ordo enable you to request and receive instant payments, but it also links to your accounting software, loading all your transactions into your accounts without you lifting a finger. You can easily track who’s paid and who hasn’t at a glance, and you have peace of mind knowing your invoice has been sent securely landing with your client exactly as you want it to, and not tampered with by fraudsters.
Make life easier with Ordo and your chosen Accounting Software Package
In these COVID times when businesses are already struggling, make life a little bit easier for yourself by using an accounts package that has Ordo payments integration, making it easy for your client to pay you. With an accounting software package and Ordo, your client is notified the moment you send your invoice, and within a few taps from their phone (who goes anywhere without that?!) they can have paid, directly into your bank account, automatically against your invoice – easy. Try Ordo for your small business today and you’ll receive 20 Smart Requests for free, or learn more.