Maintaining accounts can be challenging for any business. Many businesses entrust everything to an accountant. Others aim to save time and money by using specialised accounting software.
If you choose the right package, good accounting software can help your business manage accounts more efficiently. It can make the process quicker and more straightforward. It can also help you with e-filing, ie submitting your company accounts, details and returns to Companies House electronically. However, not all businesses will benefit from accounting software.
This guide explains the three main ways of keeping business accounts. It specifically considers the advantages and disadvantages of accounting software and provides an overview of the different types of accounting packages.
Once you choose a software that suits you, you can use our implementation checklist for new accounting package to help you set it up and make it work for your business.