How to: Streamline your small Business Accounting #Financial

For me work is all about streamlining systems, from general administrative tasks to accounting functions. Since I very first started out in the big wide world I have always seemed to gravitate towards finance within my job role.

From my humble beginnings as an accounts assistant to running a finance department, one thing has been a constant and that is the need for an effective accounting package. Currently I am self employed and the accounting package is mediocre for my needs, but to be fair I do not need anything overly fancy just a basic cashbook in reality.

However I have been rather tempted to take a leap away from the generic package used in medical services and head off in to a more on trend realm, as cloud based programs are becoming ever popular and will certainly assist with HMRC’s plans for self employed people to work towards a real time information submissions!

One such option is Xero, cloud based it could be the perfect fit. My accountant has briefly mentioned this software as being one of the market leaders. From my point of view the benefits of Xero is all saving that tedious time that it takes to do bank reconciliations as you can teach the software to autonomise the process. Xero Accountants will benefit greatly too as they have up to the minute information and use of advanced features such as depreciation and stock control.

With my current system it can be quite annoying having to remember to bring my laptop to work, as the accounts package was no longer compatible with my work desktop. As I often forget my laptop the need to quickly check current spend on a budget would mean a drive home, it is at these times that it is particularly frustrating, with Xero as you are cloud based you can access it where ever you have internet access, along with that there is also an app available for your smart phone meaning you can still have up to the minute figures whilst on the move completely.

My feelings now I have done some extensive research is to start to proactively migrate over to this new streamlined system!

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