Hey there! I'm Nikki Butlin from Athena Business Services! Welcome to this video today I'm going to be talking about The Power of Software I run a bookkeeping company based in King's Lynn, Norfolk Providing bookkeeping services and much more than that as well To clients based all over the country working remotely and on site as well Software plays an awfully big part in the day to day role that we do You might think that as bookkeepers all we do is post receipts reconcile bank accounts do VAT returns and so on We do all of that but we do much much more technology has moved on in such a fabulous way that there are integrations into accounts packages, reports that you can pull off to tell you bits of information which can then be uploaded into the accounts software I'm going to run through a few of those software for your today and tell you how we use them and how our clients use them as well So hopefully something will be out there that makes you and your business run a lot more efficiently Talking about the accounts packages first of all we use four different packages our clients have different needs Some of them come with software that they're using already that's absolutely fine We go and work on whatever they're working Or if they're not using anything, we recommend a good software for them to use So we use Xerocom, Quickbooks, Sage and Kashflow
If you're looking for a software and you're currently using spreadsheets or you're using a manual system go check them out or get in touch with us girls at the office and we'll be able to recommend the software for you and your business Those accounts packages they do pretty much the same thing each of them have their different quirks they might call something different on a different package It's getting to know how they work Our job as bookkeepers is always the same task We want to record the financials transactions that have gone on in the business each month and each year We have to record the sales that have come into the business the purchases, the money going out of the business We want to make sure the bank is reconciled against the bank state We will need to do the VAT returns every quarter and we want to hand over the accounts at the year end to the accountant There are various different procedures in place that make all of those tasks a lot easier Receipt Bank is out there, it will take your photo snaps, scans of your receipts it will read the information that's on there and then tell you i think this is for travel, is this for travel? You go YES it's for travel and you press the button and it links it through to your software that you've told it to link up with A lot of the accounts software will have direct bank feeds which again speeds up the processes if your software has not got a direct bank feed then we need to get the statement uploaded into the software that again is another task We like to download CSV downloads off the bank Comma Separated Value, looks very much like a spreadsheet What we have to do is prep it, make sure all the fields and colums are correct before we then upload it into the software and do the bank reconciliation Paypal! I've had a few nightmares with paypal when I first started my company had a client having probably about 4000 transactions on paypal each month You simply cannot spend the time and reconcile each individual transaction The other thing with paypal is that they will take their fees at source So for example if you've taken in £25, you might get £24
50 into your bank account because they've taken that 50p of fee All of those things have to be recorded So we came up with a way of downloading the reports Filtering them into the different categories of where they needed to go Recording the fees and so on and then uploading that into the accounts software So all the transactions and all the fees are posted correctly It's quite a mammoth task, took a little bit of sorting out and how to get it right, but we've done it and now our monthly processes are streamlined and work a whole lot better So paypal, if you're using paypal for online sales or anything like that and you're not sure how to record it, get in touch We will help you, that's what we're here for! So the next thing is payment portals, if you are taking credit or debit card payments or if you have clients on direct debit so you might be using things like Worldpay, Go Cardless, Stripe Again these are software that are recording sales, they're recording the sales into your business They need to be recorded into the accounts So on those software you will find reporting areas where you can download the transactions filter them through and then get them into the accounts software Also a lot of these software will link directly with your accounts packages Stripe and Xero will talk to each other So if you've got transactions going on in Stripe, they will feed them through to Xero and process them correctly You still need to make sure that everything matches and balances at the end of the month Make sure it's working correctly The longer you leave it, say you get to your year end and the whole things a mess you've got 12 months of tidying up to do So I recommend that you keep on top of everything at least every month So moving onto Operations software There are 100's out there on the market it's finding the ones that work best for you and your business If you think about your operations of your business how are your sales carried out Are you carrying stock? Do you need to monitor your stock movements? Are you project managing? Building, construction? Those kind of things, plumbing and electricians I'm going to give you some tips on software now Shopifycom if you are using an online shop to sell goods over the internet Shopify is a fabulous software for doing that, links up with your website will record all your sales, give you reporting downloads again that you can use to get up into your accounts packages to make sure the sales and so on is recorded They'll also link to your stock control as well
If you're in the construction industry, if you're in the trades Plumbers, Electricians, Builders, I can highly recommend a software called iTradenet go look it up This one actually links with Xero I set a client up on this a couple of years ago They manage all of their projects, their customers through iTrade and when they invoice them through iTrade the software will link up to Xero and it pushes the sale through to Xero so you don't have to repeat the task again Very very important! Don't be spending time doing a Word invoice and then having to type the same information into a package, or a spreadsheet or so on It's just unnecessary time spent on accounts that you don't need to do There are great pieces of software out there that will do the job for you at the click on a button, it's posted to exactly where it needs to go The all singing, all dancing stock control, sales order, purchase order software is really really good, this is UnleashedSoftwarecom I use this in a few clients It will monitor your stock It will do assemblies, if you are doing assemblies, bill of materials You can raise your purchase orders to your suppliers Your sales orders from your customers It will do, again as long as the set up is done properly which takes a little bit of time, but once it's done, it's done At the click of a button it will deplete all your stock It will assemble things that need assembling Everything is automated and when you've done that sale to your customer you click the "complete" button and again it pushes the sale through to Xero software or your chosen software depending on what the links are But I know this particular one links with Xero So your sales are sat there ready in Xero waiting for your credit control people to chase the debts Really really powerful systems out there get checking them out, contact us if you want to know more we look forward to helping!