Doing your accounts just got a whole lot easier
Did you know three in five of all microbusinesses still rely on an Excel spreadsheet to manage their accounts? 60 per cent of 1.91 million is a lot of spreadsheets. A lot of freelancers, contractors and interims trawling through page after page of impenetrable figures, complex equations and indecipherable graphs.
But it doesn’t have to be that way. As of this week, IPSE members can take advantage of another new deal: a special discount on cloud accounting software from industry leader QuickBooks. If you haven’t come across cloud accounting before, here’s how it’s about to make your life much, much easier:
You can send and track invoices in minutes, from anywhere
Wasting valuable working time on invoicing is thing of the past. Cloud accounting lets you create and send e-invoices with a couple of clicks, which you can personalise with your own logo and colour scheme. Real-time payment status updates notify you the second you’ve been paid, and your accounts will be automatically updated.
It puts all your transactions in one place
The software connects to your bank account, so you can track your business income, expenditure and profit in real time. You can create rules so that different types of transactions can be split into different categories. And if you need to add a note or document to an expense, like a receipt, all you have to do is snap a photo.
You can use it from anywhere, on any device
Freelancers travel more for work than other group, so being able to work on the go is essential. Cloud accounting means you can manage your finances with your iPhone, your Android tablet, your Windows laptop or whatever else you use to get the job done.
It calculates your tax return for you
Say goodbye to nasty surprises. Cloud software does the maths for you, so you’re in the best possible position as deadline day approaches.
It tracks your VAT too
Auto-calculating your VAT means you charge the correct amount automatically, whether you work with the standard scheme, the flat rate or cash. You’ll get real-time customised reports so you always know how much you owe, and you can prepare accurate returns to ensure you’re HMRC compliant.
It’s easier to keep your accountant up to speed – saving time and money
You can grant your accountant quick and easy access to the books too, so they don’t have to spend their time on navigating your spreadsheet figures – and they don’t bill you for it either.
It’s easy to use
There’s no assumption of previous accounting knowledge, so the interface is simple and easy to use, with support on hand for if you need it.
That’s quite a few ways in which running a freelance business is easier, simpler and quicker with cloud accounting. From now on, IPSE members will receive a 70% discount for the first six months – find out more here: https://www.ipse.co.uk/online-bookkeeping
Finance, Tax, Productivity, HMRC, Home-working