Using Small Business Accounting Software

It’s not always easy to manage a small business, especially when it comes to administration and finances. There are so many things to keep in mind, including taxes, registrations, employees and more. It’s always necessary to have a clear overview of your financials and make sure that you are compliant, which is why small business accounting software is ideal for any growing organization.

Accounting Software Solutions

Pastel’s range of accounting software solutions is undoubtedly one of the most popular in South Africa. Not only is this an affordable option for small businesses, but it provides a wealth of functions that you, as a small business owner, can benefit from. Pastel Xpress is a great solution for businesses that are just starting out, as it provides all the basic functions that you might need. It is available for up to three users and you can also benefit from its multi-company features.

If you need something that is slightly more powerful, you can choose Pastel My Business. This accounting software package will help you to manage customers, suppliers, income, expenses, item costs and bank accounts. It is very user friendly and easy to operate, as it was especially designed for start-up businesses. You can view reports at a glance, setup new accounts, and create customer and supplier invoices easily and effortlessly. You will have all your transactions in one central location so that you can easily use the data when you need to, and have the ability to make regular backups.

Always Keep Records

There are more than one way in which a professional small business accounting package can you’re your business to stay compliant. It’s a legal requirement for all businesses to keep accurate records for a minimum of five years, and with a software package this is easy to accomplish. You will have a reliable resource to use when you need customer statements, bank reconciliations, and copies of supplier or customer invoices and payments. In addition to this, you never know when you might be involved in a customer dispute, which is why you should always keep your records safe.

Payroll Management

Accounting software for small business can also help you with your payroll functions. This is important because your employees need to be paid on time and accurately. In addition to this, you need to ensure that deductions are made correctly, like medical aid contributions and tax, and these funds need to be paid over to the relevant parties as well. With small business accounting solutions, these deductions can be made automatically and payslips can be prepared in advance. You can also have the system initiate payments to your employees, which will ensure that their salaries are always on time.

When new employees join your team during the year, they can easily be loaded onto the system and their first payslips can be generated easily and effortlessly. You can also keep track of all your payments, and have access to a wide variety of reports when you need them.

Preferred Solutions is a leading supplier of accounting software for small, medium and large businesses in South Africa.

Image by Steve Buissinne from Pixabay

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