Cloud based accounting and bookkeeping has been praised as the latest advance in business, allowing real-time access anywhere in the world. However, the main concern is whether it is safe enough for your business to store financial information and access it online in unfamiliar remote locations.
In the early stages of owning a small business, many people find that they also have to be the bookkeeper. This means that you spend less time in other areas, and doing what you love. Your bookkeeping methods play a huge role in determining whether the process is efficient and fun or tedious and time consuming.
In business it has always been vital to maintain accurate business records. Accuracy is crucial in avoiding penalties by HM Revenue and Customs. You may be charged if you fail to keep records for the required amount of time, or if the record are inadequate. These charges also apply when submitting self-assessment tax returns. Follow our guidelines below to keep your business records accurate!
During the first year of operation accurate financial management is crucial to the success of your business. When running a business and faced with multiple daily tasks, bookkeeping often gets pushed to one side, resulting in a pile up of papers and bills needing to be paid. However, by avoiding some key mistakes, your business finances will be readily available for submission to an accountant.
Welcome to the newest and we think best cloud accounting software available to small business. Pandle has been designed and developed with the small business owner and sole trader in mind. Only a small percentage of businesses in the UK actually use bookkeeping software to manage their accounts.