Accounting Advice: The Advantages of Accounting Software

We look at the most noteworthy advantages to managing your business' finances via accounting software.

As you well know, here at Lime Advisory we are pretty passionate about technology.

From working with a large community of tech startups and fintech companies to backing the campaign to make tax digital, we believe there is nothing in the professional world that cannot be enhanced by a bit of tech!

This is why our team goes to great lengths to promote the benefits of accounting software, with cloud software boasting a huge array of advantages to small and large businesses alike.

Below, we look at the most noteworthy advantages to managing your business' finances in this way.

Save time invoicing with automation

Why waste time posting and chasing up invoices when you don't have to? By utilising cloud accounting software, you can generate accurate invoices in a matter of minutes. What's more, you can schedule regular invoices to be sent automatically on certain dates and times as well as keep track of debtors; all in one place!

Streamline HR and Payroll Functions

By marrying your accounting software with HR and Payroll applications, you can create payslips and other HMRC documents with the click of a button (or a tap of an iPad).

Data accuracy

With bank feeds, invoice management tools and payroll functionalities, your accountancy software is always collecting financial information on your business. This means users can access accurate data as and when they require it, not having to wait for the end-of-month statement to see how the business is shaping up financially.

Safe storage of your information

When using accounting software, all of your data is hosted on a secure server, meaning it is completely safe. So, if you want to rid of the fear of your financial data being hacked or compromised, this is one, very straightforward way to do so!

Collaborate with your accountant with ease

Forging a positive relationship with your accountant is essential if you want to get the most out of the partnership. Traditionally, business owners speak to their accountants once, maybe twice a year, usually in the lead up to tax deadlines. However, with collaborative software such as Xero and Quickbooks, business owners can connect with their Accountants and touch base regularly, sharing documents throughout the year to make for a more streamlined approach to managing the company's finances and tax duties.

Enquire about our tech-focused accountancy services

Are you looking for a modern accountancy firm that understands your business’ financial goals? If so, contact our team of advisors today and learn about the many ways Lime Advisory can support you.



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