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Online accounting

 

Bookeeping at present

Most of our small businesses clients use either spreadsheets or desktop computer based accounting software to maintain their accounting records.

 

Twenty years ago the spreadsheet was a logical next step from paper based books and, being basic in their functionality, PC bookkeeping offered a relatively easy further step in sophistication, i.e. to include, invoicing, debt control, full VAT accounting and a reasonable stab at periodic Profit & Loss accounts and balance sheets.

 

Over the years, in order to sell more of their systems software manufacturers have added bells & whistles to the basic bookkeeping to the point at which the systems are daunting in their complexity with cluttered screens and facilities that most small businesses don’t need or can afford to pay for.

 

Consequently, making the step from spreadsheet to computerised is scary and having to get us involved just adds more time, energy and cost than is, in most cases, justifiable.

 

Having to email spreadsheets and data files back and forth to us is also extremely inefficient in that there can be too many versions of the same file in existence at any one time and, in the case of data files, we have to make sure we have various versions of each package available in order to read client data.

 

Finally, especially with spreadsheets, two identical clients will keep the same system in completely different ways meaning there is a lack of uniformity and a high risk of error and confusion on both sides.

 

The next stage:

As well as adding benefits a web based accounting system solves many of these problems in one go ie:

 

  • Because of data transfer rates, web-based software has to be lean and efficient and therefore most of those currently available have returned to basics and provide uncluttered and simple to run solutions;

  • Adding functionality is also quicker and easier, many of these systems are updated and improved every few weeks (rather than months) and actually offer more within the basic pack than their deskbound rivals;

  • There are no “versions” to worry about, i.e. the system you use is always the up to date version;

  • There are no CDs, downloads, updates or backup problems, everything is taken care of for you in data centres that are forced to comply with top quality “bank-level” security and data retrieval facilities;

  • We have full access and control of your data and can be working on it, or just monitoring it, at the same time you are, all year around. Any data we retrieve is live and any amendments are made once only without any “traffic” between clients and us.

  • You/we can access your accounting records from wherever you/we can access a computer;

  • There are now a plethora of systems to choose from, compared to the current three or four left in the desktop market, meaning that it is now easier to find something that is closer tailored to clients’ and our needs.

  

IRIS OpenBooks:

Of all the systems we have looked at this is the one that we think best fits our clients’ and our needs.

 

It is based on an existing product “FreeAgent” with over 2,500 users and has been enhanced to integrate with IRIS Accounts Production software that we use to prepare clients’ accounts.

 

We have prepared a screenshots guide (PDF) to illustrate what the system offers and how it is set out however, in summary clients will be able to use as much of or as little of the following facilities as they wish:

 

  • Maintain customer project records, recording income, time and expenditure against each;

  • Raise estimates/quotes and invoices to customers;

  • Record Bills from suppliers;

  • Keep track of invoices & bills paid & unpaid;

  • Keep track of bank and credit card accounts, including uploading online bank statements;

  • Maintain an easy and basic payroll/PAYE system;

  • Fully account for VAT (using standard and flat rate schemes);

  • Keep track of likely company & even personal tax bills;

  • Keep track of, calculate and prepare dividend entries and paperwork;

  • Prepare Profit & Loss accounts and balance sheets at any time.

 

The service comes usually with a small one-off set up fee followed by an annual fee, payable monthly.  These will be discussed in full as an when clients perceive a benefit to using the system.

 

For further information refer to the screenshots guide and contact us if anything doesn’t make sense or if you want to discuss it further.

 

 
 

     

 
       

 

    

 

 

 

  

 

 

 

  

 
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