Keeping Your Records

Record keeping is a legal requirement for all businesses, but sometimes it can prove challenging to keep all your paperwork organised. Remove the hassle of manual bookkeeping and invoicing by going digital with online accounting software.
Software providers like Xero, Sage Cloud Accounting and QuickBooks offer various ways to automate and streamline your record keeping, allowing you more time to focus on making your business successful. Some of these features are detailed below.

 

THE BENEFITS OF ONLINE SOFTWARE

Invoicing: Sending invoices to your customers has been made quick and simple through accounting software. With the ability to save and select line items, filling in your invoices is an easy process. Your invoices are allocated to the customer account on the software, enabling you to see all invoices that have been supplied to them and which ones are outstanding. Issuing reminders and credit notes is as simple as opening the invoice and selecting from the options menu.

Bank feeds: With only a two-minute setup, you can create a bank feed to automatically import all of your bank activity, removing the need to track every transaction you make. Bank rules and system learning make reconciling the bank account even easier, allocating transactions to contacts and their respective income/expense accounts. The feeds can also match payments and receipts to the invoices and bills they relate to, reducing the level of input needed by the user.

Reports: Your accounting software can create reports based on any transactions that have been entered. The facility to view your business' balance sheet and profit & loss is critical for being able to assess your business' profitability and financial position. You can run these reports for any given period, offering further insight into trends and how to manage your cash flow. The aged debtors and creditors reports are also essential for tracking invoices and payments, helping you review which customers need chasing and which suppliers need to be paid.

 

Cloud Accounting Editorial Use Only

 

USE DEXT FOR YOUR DATA ENTRY

If you're worried about a large backlog of bank statements or invoices, Dext can minimise the data input required by processing your documents quickly and accurately. Simply scan your invoices and bank statements to your device, then upload the images to Dext, and the software will read through all the information and have it ready to import to software. Dext will integrate with your Xero account, allowing all your records to flow through seamlessly into your accounting software and making the bookkeeping process ten times easier.

CONTACT US

Key Accounting Services Salisbury
Penbryn House
Hilltop Business Park
Devizes Road
Salisbury
Wiltshire
SP3 4UF

Contact Us: info@keyaccountingservices.co.uk
Call today: 01722 324599 

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