![]() That is why balanced, precise, and organized financial records likewise make the business gain trust from new investors and loan providers since they can look into the monetary status before giving you the amount that you need. Great bookkeeping can help businesses save economically. While these may be viewed as "real" bookkeeping, any process for recording financial transactions is a bookkeeping process. There are several standard methods of bookkeeping, including the single-entry and double-entry bookkeeping systems. The end result is better all around – you have data that is reliable and prepared by accountants, and you don’t have to spend your precious time updating the software.Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business.Transactions include purchases, sales, receipts and payments by an individual person or an organization/corporation. So they built MazApp, our accounting software, to be designed to be operated by qualified accountant instead of by you, the small business owners. Let’s face it, our founders were small business owners too – they know the challenge. That’s right – we hold the steering wheel to the software and all you have to do is hop in for the ride.įor us, the software is the thing that drives the efficiency of our business. But the big bonus of our software is that our team drive it for you. It does all the things you’d expect a good piece of software to do – sends invoices, connects to bank accounts, files to HMRC for making tax digital. We developed our own software for us to run on your behalf. Free plan or no free plan – your time is money in small businesses! ![]() No matter how good the free plan you have is, you still have to spend your precious time doing data entry. Small businesses have enough on their plate without having to spend their time dealing with software. Where we differ is that we actually don’t really want our clients to spend their time using accounting software. After all, the provider of the free accounting software is also probably a business, so they have to make their money somehow! In the first instance, free accounting software will probably get you on the right track and let you assess whether doing your own bookkeeping is really something you want to spend your time doing.Īnd it’s not all that surprising that what you get for free accounting software is limited – there are often costs involved in hosting your data, connecting your bank account to bank feeds or providing customer support. Most companies that offer you free accounting software will put some serious limits on how much of it you can use – they will restrict the accounting features available to you so that you upgrade to the paid version – cheeky! That free plan might be fine if you don’t have multiple bank accounts, or recurring invoices, or want bank feeds and customer support. If you’re a small business looking for their first bookkeeping template, then our free plan may well be all you need for a little while. Download free bookkeeping template nowĮver heard the phrase “there’s no such thing as a free lunch”? Well, perhaps you could also say that truly, there isn’t such a thing as free accounting software! That’s why we created the free bookkeeping template that you can download on this page – because we know that free doesn’t always really mean free. If you want to run your business efficiently, as well as run your business aligned with the rules that are coming down the line, then accounting software is the way to go. Small businesses should be prepared by getting to grips with accounting software as soon as possible. VAT returns were the first part of the switch to making tax digital, but most definitely won’t be the last. If you have to submit VAT returns, then it’s now essential that you (or your accountant) use making tax digital compliant accounting software to do the filings. Not only do you need to understand your business finances to ensure that your business is performing well, but HMRC and Companies House requires that you submit returns to them electronically – and accounting software will help you do that. But nowadays, accounting software has made life much easier for small businesses. It might not be the most fun part, but it is something that you are required to do by law.īack in the old days, people used to use manual ledger books and write out their transactions each day. Making sure that your finances are orgainsed is all part of running a business.
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