The whole point of using accounting software is to make your life easier by saving you time and money. Therefore, if it doesn’t and you can meet your legal requirements without it, you should question whether it’s worth the effort.
It should save you time because:
- the whole process of bookkeeping should be faster (although setting up a package can take an initial “time investment” at the start)
- you whould be able to answer queries much quicker (such as “did you pay supplier A last month, and if so, how much)
- some things should be semi or fully automated, such as bank reconciliations, VAT returns
- your “year end” should be more straightforward
It should save you money because:
- you may be able to negotiation lower accountant’s and/or bookkeeping fees.
- indirectly, you should save money by freeing up your/your bookkeeper’s time.
- you may be able to make better financial decisions as a result of better and more timely information.