Accounting software for small businesses
If your purse is full of receipts of expenses, rail tickets, client lunches and more, doing your tax return can seem like a daunting task.
Which is why we love using Quickbooks to make sure we are on top of all of our business receipts, expenses and more, so that keeping record of everything and completing our tax return is as easy and organised as possible!
So here’s some of the key features of Quickbooks and why we love it so much.
1) THE OPTION OF CREATING DIGITAL INVOICES
If you’re not a whiz with creating attractive documents, Quickbooks can help you create invoices that can be customised to suit your business.
There’s also a great feature that tells you when your invoice has been viewed and paid, and you can create reoccurring invoices automatically.
2) calculate and track your TAX AND vat
The Tax and VAT features in Quickbooks can give you all the information you need when it comes to working out how much tax and VAT you owe and keep track. You can see what’s due with a real-time dashboard and also see what can be claimed back.
Plus, you can submit directly to HMRC saving you time.
3) cOMPLETE YOUR SELF ASSESSMENT
Being self employed means you have to conduct a self assessment. With Quickbooks you can get a detailed breakdown for your self assessment and understand how much you owe with it all worked out for you.
4) CATEGORISE YOUR EXPENSES
Your expenses and income seen directly from your bank account can be automatically categorised to make it easier for you to decipher which areas they sit within, saving you hours of time!
5) CASHFLOW INSIGHTS
Quickbooks help you keep track of your cashflow and know where your money is going. You get insight into your business expenditure, the categories, your bank balance and paid and outstanding invoices in real time.
You can also run reports to get more detail on the figures.
6) TRACK MILEAGE
The automatic mileage tracking allows you to track every business mile that goes towards your annual deductions.
How do you keep track of your VAT, finances and Tax? Share with us below!