bookkeeping, accounting, taxes

If you run a business in the UK or are looking for UK bookkeeping software to help with your accounting needs, then you’ve already started on the right track to ease your workload and set yourself up for success!

Not only does accounting software help you keep track of your finances, but it can also help you automate a lot of bookkeeping processes, thus making sure you focus on the right things.

But with that said, choosing the right UK bookkeeping software is never an easy decision to make. With a plethora of software in the market to choose from, it can get very overwhelming very quickly, and you may find yourself too confused to think straight.

This is where this article should help! Here, we’ll take you through the essential steps required to purchase the UK bookkeeping software in two parts. In the first part, we will look at what you should consider when evaluating the needs of your business. In the second part, we’ll look at some common mistakes to avoid, so that you don’t run into problems in the short or long run.

Part 1: Evaluate your needs 

You may have already decided to purchase the UK bookkeeping software, but that’s just the first step! You need to do a thorough analysis of your organization’s pain points, as well as other needs, which will orient your search for the right software. Here are some things to take into consideration:

  • What will be the principal use of the UK bookkeeping software?

The answer to this question will likely be straightforward, but depending on the nature of your organization, this answer may change. If you run a service company, then the primary use cases will be salaries and other invoicing, but if you run a product company, then there may be other use cases to consider, depending on the nature of the product.

  • Who will be the primary users?

This is an important question because it will determine how many licenses you will have to purchase, and consequently how many conversations you will have to have internally before you decide on the right software. If you have multiple teams that will need access to accounting software, then you will have to communicate with multiple internal stakeholders to ensure that they find the right support in the software you are considering.

  • Does your software include Inbuilt support for UK taxes?

While this is not certainly a mandatory requirement, it is a good-to-have feature that is almost at par with a must-have feature. This is because, while it may be a theoretical possibility that your accounting team will manually do the taxes, it is a significant timesaver to have the software do this manually. And your team will thank you for it too!

  • Does your software offer custom insights based on the data your store?

This is yet another feature that may or may not be required in your organization but which will secure your chances of getting ahead in the future. As the nature of data continues to evolve and the amount of data continues to increase in business contexts across all industries, companies that can extract valuable insights from their data will become differentiators going forward. 

Now, let’s take a look at some common mistakes to avoid while deciding which UK bookkeeping software to purchase.

Part 2: Common Mistakes to Avoid

Now that you’ve evaluated your needs, you have probably decided on software that fits them. However, before you go through with your decision, use the following questions to ensure that you don’t end up making mistakes that will harm your company in the long run.

  • Does the accounting software have good usability?

This is an important question because it foregrounds not your organization’s needs but rather those of the people who will be using the software itself. And in both the short and long term, the users will become the deciding factor – if they can use the software as intended, then organizational needs will get fulfilled. Otherwise, if the software is too clunky, then users will get frustrated, leading to other organization-wide issues.

  • Is the organization open and transparent in its communication?

While this question can be asked in various contexts, in this particular case this question can remove any obstacles for goal-setting and feedback. The organization will have to include all important stakeholders – everyone from leadership to the actual users – so that everybody is on the same page in terms of what needs to be accomplished through the software. Otherwise, the lack of clarity will impact everything from software adoption to overall impact.

  • Does this accounting software focus on data security?

Each business produces a massive amount of data and that needs to be taken into consideration while evaluating the accounting software as well. After all, there will be thousands of invoices that will be generated throughout its use, and without proper security measures, this sensitive data can fall prey to the wrong hands. Especially in today’s day and age, there is no price too high to pay for knowing that your data is completely secure with UK bookkeeping software.

  • Will the UK bookkeeping software be just as effective at scale?

This is an important question because each business is always growing, all the time. And if a particular software stops being effective at scale, then it may be a better decision to avoid it entirely. Our Dext accounting software accounts for needs across all levels of organizations – and can be used just by accountants if that is the organizational need!

In Conclusion

Each software has its pros and cons, and being able to stack them against the needs of your organization will show you a path forward regarding the UK bookkeeping software implementation. Once you ask yourself these questions, hopefully, you will be in a better position with your purchasing decisions! 

You can also consider Dext bookkeeping software for your organization’s accounting needs – and if you find that it answers all your questions, then it may be the right fit for you!

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