Do you think of accounting software and assume it is for big corporations or accounting firms? Well, it is an easy misconception to arrive at, but it’s also like saying that professionalism, increased profitability, and proper financial management are only for big corporations and accounting firms.
Accounting software is highly adaptable and most accounting software has various tiers and types and packages under a single brand umbrella. These options within a brand (or from different brands) are aimed at different target audience businesses and also at businesses of varying scale.
Moreover, you get free accounting software in the UK trial from most brands before you sign up. To differentiate between a free UK accounting software trial and free UK accounting software, however. Free software often has to make up for costs by plaguing users with ads, or by keeping truly useful features behind a paywall.
No matter what your specific business needs are, there is an accounting software option out there for you. Here are some examples of how free UK accounting software can be put to use at several broad categories of UK businesses.
Gig economy aces could use receipt scanning and invoice streamlining
As the gig economy becomes increasingly lucrative and also popular, more and more efficient top performers are deciding to go off on their own. As a freelancer or sole trader, the world is yours. However, it would help if you could claim your tax deductibles with ease and if you could bill people on time, track payments and manage your finances like a pro.
Look for: Accounting software that has
- Receipt scanning, which lets you snap and upload a receipt while the software literally types up entries for you (yes at only GBP 20 for 300 of those)
- Invoicing support that lets you automate and templatize your invoices, sends you alerts around due dates and when invoices are overdue, gives you a client dashboard, and notifies you when invoices are paid
- Automatic and easy preparation of reports for you to understand your financial health
Restaurants and bars could use order tracking and quick invoicing
We covered the importance and usefulness of standardized, automated invoicing above. In addition, restaurants need a quick turnaround of invoices and instant receipts. You can also integrate payroll and order tracking with your free UK accounting software, not to mention inventory and supply chain management.
Thus, even if you are a restaurant with only a few covers, you’ll have a better chance of running a more professional, successful, and profitable setup with accounting software.
Retailers could use data capture in invoicing
Meanwhile, retailers could use not only quick invoicing but also useful details like the date of birth and contact details of their customers begotten as part of the invoicing process, so as to market sales and discounts to customers in the future.
A dashboard that gives managers an idea of accounts payable and receivable, inventory tracking, and cash flow, is absolutely necessary and a given with your free UK accounting software.
Corporations could use easier expense approval and business insights
Accounting software relies on artificial intelligence and is therefore able to analyze all the data flowing through it to offer actionable business insights. In addition, the receipt scanning features that are useful to freelancers and small businesses, are even more useful to a corporation where employees – especially those who travel to work – often spend a day a month on reimbursements.
Accounting and bookkeeping firms could use more transparent onboarding
Besides the receipt scanning feature that can shave hours and hours of manual data entry from a bookkeeper’s plate, accounting software also allows for bank account synchronization where data then flows seamlessly from your client’s business bank account to their books. This means that you can take on more clients and therefore bill more in a month.
But there’s more: You will also benefit tremendously from the business health checker feature that lets you know the state of a potential client’s books right at the negotiation table. This lets you offer more fair pricing.
Get your free UK accounting software trial now to judge for yourself, just how accounting software can revolutionize your specific business
