Installing a cloud accounting package for your trades or service business can have many benefits. Including allowing you to go paperless, saving you time, making it possible for you to work from anywhere as well as being able to integrate with your job management system, such as ServiceM8.
With so many different types of software available on the market, what do you need to consider when choosing a cloud accounting software for trades or service businesses?
Well, firstly you will need to choose a system that is designed for commercial use. Additionally, to comply with digital tax legislation, your accounting system will need to be recognised by HMRC. See here for the full list of compliant software.
Consider your business needs
To be able to make an informed decision on the best cloud accounting software, you will need to consider your workflow and your business processes. Learn more about business processes by signing up to our Free Training course.
Do you use a job management system, such as ServiceM8?
Many cloud accounting packages can be directly integrated with your job management system allowing you to import your customer list and send quotes and invoices quickly. For example, ServiceM8 can be integrated with the accounting packages of Sage Cloud Accounting, Xero Accounts and Quickbooks Online.
Why should you integrate your accounting package with your job management system?
When you integrate your accounting package with your job management system, such as ServiceM8, you will be able to fully streamline your workflow. Eliminating having to enter the same data twice and making it easy to import your customer list.
Additionally, the combination of the ServiceM8 and Quickbooks Online, also allows you to manage stock levels.
How big is your business?
Just like job management systems, different accounting packages cater for businesses of various sizes. ServiceM8 works best for small to medium-sized businesses. So these businesses will want a simple, easy to use accounting package – without all the bells and whistles.
Bigger companies, however, will need more complex reporting which may require a more in-depth job management system and accounting package. You, therefore, need to do your research on the correct package for your business.
What are your accounting skills like?
Accounting packages of Sage Cloud Accounting, Xero Accounts and Quickbooks Online are user-friendly and quick and easy to use. This is ideal for those who don’t have a lot of experience in accounting.
There are many factors to think about when it comes to choosing the best cloud accounting software for trades or service businesses, including which job management system you use. ServiceM8 is an ideal end to end solution for the trades sector and is tailor-built for small to medium-sized businesses. Integrations with some of the most popular accounting packages, like Sage Cloud Accounting, Xero and Quickbooks Online, make it an ideal choice for business of any maturity.