All businesses are legally required to keep accurate financial records.  To begin with, depending on the size of your business and the simplicity of your finances, well-designed spreadsheets may suffice as a method of recording and tracking your business transactions, in the short-term.

The advantage of spreadsheets is that they can be simple to use, and they are inexpensive. However, they can be unreliable. They can save incorrectly, formulae can be corrupted, and data can be inadvertently overwritten. Spreadsheets do not offer an audit trail and they are not secure.

As your businesses grows, accountancy becomes more complex.  Using accounting software automates processes, reduces time spent on data entry, and reduces the potential for errors.  It facilitates information sharing, offers security, and generates financial reports which provide invaluable management information.

And then there is Making Tax Digital.  All businesses registered for VAT in the UK must use MTD-compliant software to submit their returns and to store digital records.  This will also apply to most small businesses, sole traders, and landlords from 6 April 2026.

Deciding which software system is best for you can be difficult.  Some systems are geared towards freelancers, contractors, and small businesses, while others are designed for use by larger companies and multinationals.  We will help you decide on a suitable software solution for you and your business, and we offer training and support.