(Guest Post by Jason Hurlington reviewing the newest Intuit applications)
Accounting for a start-up business can be a real headache and lead some business owners to make some ill-informed decisions. Perhaps the biggest mistake is to use the wrong kind of accounting software. Rather than buying into specifically designed small business accounting packages, there is a tendency to buy into software that’s designed for bigger companies.
Hopefully, further down the line, this might be a good way to manage your accounts but in the early, faltering steps of a fledgling business, it can only serve to confuse and frustrate. If you’re a small business or start-up, it’s much better to work within the parameters that are naturally set by your enterprise.
While bigger businesses may rely on balance sheets and cash-flow models to help them determine their next strategies, start-ups simply don’t need them. At that level of business it’s merely a case of knowing what’s going in and what’s going out. However, although it might sound simple, there’s a lot more detail to it than that. In order to grow you need to be on top of the details, such as invoices, receipts, wages and, of course, the dreaded tax bill.
Get it right, first time around
The good news is that there’s a load of software available to owners of SMEs and start-ups – specifically designed for business at ground level. Intuit supplies a range of small business accounting products, from apps to software, all of which are designed to be easy to use, jargon-free and offer uncompromising accuracy.
If you’re in the position to employ staff, then you’ll be aware of the changes to the PAYE system. HMRC is now requiring employers to send Real Time Information. However, Intuit Pay can help you rise to the challenge with their RTI PAYE software, which will send all the accurate and pertinent information to HMRC, while you get on with the job of running your business.
QuickBooks for small books
QuickBooks is another one for those in the know. Google it and you’ll find that it’s the world’s leading accounting software, used by over 4,000,000 companies. The beauty of QuickBooks is that it’s completely adaptable, so it can grow with your business. What starts out as small business accounting software can expand with you and be used to manage your accounts, no matter how quickly your company grows. In addition, it’s available from Intuit as a free app, meaning that you aren’t restricted as to where and when you check your accounting data. On top of that, it means you don’t have to fork out for an accountant to get the figures right. QuickBooks can be used by practically anyone, whether they have an accounting background or not.
The secret to success isn’t necessarily what you know now, but what you’re prepared to learn along the way. If you know what you want to achieve in business, then cast your net wide and learn what’s available to help you on the way. Business technology isn’t a passing fad; it’s helping companies approach the way they work in a new and dynamic fashion.