Starting a new business

Starting a new business.

So you have decided to start your new business. Its your first business, and you have made an endless list of things to do. You have put your bookkeeping as a low priority on htis list, but is this the right thing to do? Invoicing software is high on the list but accounts software is not. Generally this is the norm, but is it the right move for your new business?

Getting your accounting software set up early is a must for a new business. For one, many new businesses have a lot of expenses before any money comes in through invoicing. These expenses can be recorded on your accounting software so you can claim back VAT and put the expenses forward for your Accountant to calculate your Taxes. So keeping all those receipts is a must, and recording them in purchases is essential. Keeping good up to date information in your bookkeeping software is the only way to get the best out of your business, and help you manage cash flow and get paid on time.

Many new business owners are concerned about invoicing software, This is critical for your business if you send out invoices, but recording purchases is as important to ensure you can get a good picture of the financial health of your business. Talk to your Accountant about this.

Getting good information into your accounting software is importnat, so important that there are a number of ways to do this. If you are using internet banking, then you will probably be able to export your bank statment out into a .csv or excel format. If you can do this, getting your information into eFolio Accounts is a very straight forward procedure which is outlined in our Support Portal Specifically, the article on Import a bank statement explains how to do this step by step.

If you are looking for Accounting software for your new business take a 30 day free trial and see just how good eFolio Accounts is.