Benefits of Online Bookkeeping for Small Businesses

The benefits of online bookkeeping if you are a small business are huge. If there are only a few of you in the business at this stage, online bookkeepers ensure your accounts are kept up to date for a small monthly fee. This takes away any pressure from you, passing everything to them allows you time to concentrate on growing your business. When you are a small business, chances are you are multitasking most days, when you are busy trying to bring in new business and keeping existing customers happy – accounting will not be top of your criteria of fun things to do.

Many small businesses use simple accounting software to keep them on track. Gone are the days of manually writing all of your figures into a huge ledger by hand. With a couple of clicks of a button your figures will be online and updated throughout the month. When tax return time comes around again, you will be in a strong position to submit everything on time and accurately.

Xero, Quickbooks and Freshbooks are some of the main software accounting you can purchase on the market today. Download a month’s free trial from their websites and navigate the software tools before you commit. You may find that one service has a few more features which you can utilize for the same price every month. Check that the online bookkeeping software is compatible with your server and operating system as well, the last thing you want to do is pay lots of money for something that will never work. Find out more informations in our post here.

Online bookkeeping software has tools which help you calculate cash flow, revenue and payroll easily and accurately. They are very user friendly and the pages easy to navigate. Most websites have webinars and tutorials which help you get to grips with your new accounting software, they also have customer service teams on hand if you have any issues. A few regular entries will ensure bank statements and your invoices are automatically uploaded and processed correctly without errors. You won’t have the costly expensive of having to employ an accounting professional, the software does it for you.

What about security?

This is a concern for many business owners who use an online bookkeeper service, you will be pleased to know that software companies top priority is keeping customer’s data safe and secure. With the secure system in place it is easy to access your accounts, invoice customers and access all of your information whenever you have Internet access – from anywhere in the world.

How much will an online bookkeeper service cost?

A great benefit for a small business is the cost saving aspect. Using an online bookkeeper service is cheaper than employing a full time member of staff, which is difficult especially as a start-up company or if you are working to tight budgets in those early years. If you run software on your server in-house it can be costly as you will need to employ someone to deal with upgrades and system tools. When you purchase online bookkeeping software all you have to worry about is watching a tutorial and learning how to use it, which is much easier than you ever imagined.

A small fee each month for an online bookkeeping service like gives you the opportunity to keep your small business on track without having to worry about expensive salaries and benefits. The only thing you need to invest is a little time, training yourself and other existing staff how to use it.