Simple accounting for small business
Simple accounting for small business owners isn’t just a type of software – it’s more like a mantra or a complete way of life. When it comes to the financials of a small or medium sized business, it is always important to keep things as simple as possible. You don’t want to over complicate matters by way of complex financial software that you aren’t properly utilizing.
When you start to over complicate your small business’ financial information, the potential for mistakes becomes greater than ever before. Mistakes in this area can include a failure to collect payment from clients, a failure to properly render goods or services that have been paid for to clients and can even result in you getting in trouble with the Better Business Bureau or the Internal Revenue Service.
Simple accounting software, like Cheqbook, is designed with a few key goals in mind. The program aims to simplify the overall bookkeeping process and various accounting tasks that the small business owner is should take care of on a daily basis. Instead of putting the burden of accuracy on you, this program does as much of the hard work for you as possible.
One of the first goals of simple accounting software is to allow the small business owner to accurately record transactions through various accounts that a business may have from one location. Even if your business has seven different accounts with seven different banks, for example, you should be able to find out as much information as possible about any and all transactions from the same accounting service window.
Simple accounting services like Cheqbook also do what they can do automate basic bookkeeping tasks in an effort to make the accounting process as easy as possible. When you use Cheqbook to connect to the various financial institutions and accounts that you’ve set up for your small business, for example, you don’t have to manually enter transactions into your account as they occur. When you send a payment to a client using a business account, you shouldn’t have to then rush to a computer and enter that transaction into the bookkeeping software or service that you’ve been using. Simple account services like Cheqbook automate these easy account processes and download transactions for you automatically. Every time you open your Cheqbook user account page you can rest easy knowing that you’re looking at the most complete and accurate list of transactions that are associated with the business you’re running.
Another important function of simple accounting software has to do with the type of access that you are given to the financial records that you’re in the process of keeping. Applications and services like Cheqbook utilize the latest in cloud-based technology to store your important financial records on the Internet, as opposed to locally on the hard disk drive connection to your computer. When your records are being stored online, you can access them literally any time you’d like from any computer in the world with an active Internet connection. You no longer have to go into work on your day off to make a few quick adjustments to the books of your small business. You can open your Web browser on your desktop, laptop, tablet or even mobile phone and take care of business while you’re at home, on vacation or in any other location.
Cheqbook is a simple accounting solution that also makes it exceedingly easy to process all of the information that you’ve been collecting over time. Cheqbook in particular allows you to view fifteen different types of reports at any time that include a profit and loss statement, a detailed balance sheet of all your accounts and more. Not only will you know where your money is going and where it’s coming from, but you’ll also be able to make sense of that information and identify trends, hunt for errors and generally make sure that everything is as it should be.
No matter how much of a “hands on” approach you take with your small business’ accounting, there will come a time where you need to share the information you’ve been collecting with your accountant. This is something that you traditionally do right around income tax season, as it is better to let a professional handle your taxes than it is to do it yourself. When that time comes, simple accounting solution Cheqbook will allow you to quickly and easily share all information with your accountant using a feature that is already built right into the software. You won’t have to make an appointment and spend hours printing out forms, compiling statements and getting all of the aforementioned information ready for your bookkeeper. Instead, you can quickly click a few basic buttons in your Cheqbook window and let the software take care of the rest.