When people discuss benefits of online accounting software for small businesses, they often talk about the processes which can make doing your accounts easier. For example, they may mention the ability to automatically draw up invoices or calculate VAT.
Traditional accountant will say that that’s all well and good, but many of the other features are mere fancy add-ons. What is often badly overlooked is the wider picture: the benefits of having a real-time online account make it a vital business tool.
Having the ability to check the financial health of your business online 24-7 is a great help for any small business owner. Without it, you’re effectively left in the dark, that is unless you painstakingly manually calculate and recalculate your financial status. It’s unlikely you’ll have the time and energy to do this!
So, there it is. Right in front of you. The amount of money you have raised through your limited company. There are two main benefits of having this information:
1) You can easily calculate how much money to pay yourself as a dividend – Crunch features a graphic displaying just this information. By paying yourself a combination of dividend and salary you can ensure you’re operating at upmost tax efficiency.
2) You can calculate how much you can afford to invest in the company, allowing you to plan for the future, now.
The danger of online accounting systems is that you are often confronted by horrible accountancy jargon that reads like an alien language. One of the key founding principles behind Crunch is to make your accounting ridiculously simple. Whether you’re a freelancer, contractor or small business owner, our service is all about useablity and understandability.
So, when you peruse our website, try our demo account or become a Crunch customer, we keep jargon to an absolute minimum. In fact, you could say it’s jar-gone.