Bookkeeping Software

I am just starting out and I’m looking to buy some bookkeeping software. Can you list some of the keys differences between desktop software or subscribing to some online software?

1st July 2013

Desktop bookkeeping software

  • Speed- Can be quicker as you’re not working online and therefore reliant on internet speed
  • Price- Can be cheaper as may only be a one-off payment; unlike Cloud-based software which may be infinite, monthly subscription payments

Online bookkeeping software

  • Mobility- you can work anywhere; anytime provided you have an internet connection
  • Communication- you may be able to email your customers through the software; therefore allowing you to attach documents to the emails such as outstanding invoices. Some may even facilitate you takings payments from your customers and others have Apps to download to your smart phone for use when you’re out-and-about
  • Integration- Due to the evolutionary nature of Cloud-based software, it tends to be compatible with more software than traditional desktop products
  • Security- Check with your supplier, but generally, the data in Cloud-based software is much more secure than in desktop software- which could disappear during a thunder storm!

The generic features of bookkeeping software should be prevalent whichever route you go for though- such as reporting, invoicing, customer/ supplier management, VAT returns, bank reconciliations etc.

Your local TaxAssist would be happy to make some recommendations to you about bookkeeping software. Pop in to your local office or call us for more information.

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By Jo Nockels

Disclaimer: Advice shared in this blog is intended to inform rather than advise. Taxpayer's circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this forum, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

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