It’s hardly the stuff that dreams are made of. But your accounting won’t do itself and it’s no solution to simply leave everything with your accountant and take a peek at the balance sheet once at the end of every fiscal year.
Modern accounting software allows you to streamline the way you generate your financial reports. It means less paperwork. It means no more Excel spreadsheets. And no more inputting data manually. They also give you a real-time vision of the financial health of your business overall. You’ll be able to use the tech to generate forecasts for the months to come as well as to prepare your tax statements. These software may not have you dreaming about doing your bookkeeping, but neither will the process be such a nightmare anymore.
So, how do you choose the right accounting SaaS? Most are very simple to use but here are two pointers:
- Your chartered accountant probably uses software already. You could keep things simple by getting the same.
- Nowadays, business accounts can be connected to accounting solutions. Your transactions (and your receipts, if your business account provider has that capacity) can be input automatically. Account reconciliation is done quicker than you can ask ‘where’s that darned restaurant receipt?’
you could opt for the big-name accounting ERP (Enterprise Resource Planning) suppliers like Sage
, which offers a very complete software package. These solutions may be too complex for smaller companies. In those cases, you could turn to Pennylane
, which cater to the smaller business market. Both of the solutions mentioned can be connected automatically to a Qonto account. This will save you time when it comes to doing your accounting.
For one, you’ll be able to add receipts digitally to the relevant transactions
as soon as you’ve paid an expense, directly from your business account (rather than scramble around at the last minute looking for the matching paper versions). Also, you can share with your accountant all the information she or he needs to prepare your books
, as well as connect your Qonto account to more advanced accounting software to enjoy the extra features they provide.
💶 How much does it cost? Sage subscriptions for freelancers and self-employed workers start at €9/month (excl. tax). For SMEs, Sage plans start at €159/year (excl. tax). Pennylane plans start at €19/month before tax, while Axonaut offers a no-commitment, 15-day free trial and then monthly plans from €34.99/month per user (for a 2-year contract).
Software can also help when it comes to billing your customers. You can create and edit your pricing estimates and invoices in just a few clicks. You’ll also have real-time visibility over your incoming customer payments, which can reduce the risk of being paid late. Soon, you will even be able to do all that directly from your business account...Qonto will be announcing some good news soon along those lines, so watch this space.