Are you thinking of moving accounting software?

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The accounting software you choose has a significant impact on your business. It is common for a company to stick with the software they have always had, despite it potentially taking up more time and effort to run and manage, but moving accounting software can benefit you and your business.

At Steele Financial, we understand that it may be daunting to make the switch, but we also know that using efficient accounting software makes all the difference. We can help you get more control over your accounts and finances better by moving to Xero

Is it easy to switch accounting software?

If done correctly, switching accounting software can be an easy process. However, to avoid mistakes that may prove detrimental to your business, or if you are moving halfway through the financial year, it is best done with the help of a professional. 

Try to avoid having two accounting software packages running alongside each other, even for a short amount of time, as this can get complex. It is best to make the switch than to juggle this. 

Once you have obtained your opening balances, which are things like your account balance on the last day of the financial year, what you may owe people, and who owes you money, the process is relatively simple. The best way of doing this is by downloading your reports from the previous year and manually transferring them across. 

An experienced accountant can help you with the process of moving accounting software. At Steele Financial, moving to Xero from a different software, such as Quickbooks or SAGE, is easily done through our Xero migration and implementation service. 

Why should I move accounting software?

Your accounting software is important. Choosing the right one for you and your business is vital for its growth and financial success. There are many reasons why business owners decide to switch accounting software. You may be struggling with the usability of the type of software you currently have in place, or may be moving from an accountant that had bespoke software that you can’t access anymore. 

If you find that your financial admin is taking too long, or is unnecessarily complicated, it may be that you are using the wrong accounting tools for your business. Take the time to speak to an experienced accountant and research the different software options before you make a decision. 

What issues may I face when switching?

It will always be somewhat challenging to get used to a new piece of software and this is no different. Many busy business owners may struggle to find the time to adjust to the new ways of accounting. 

You may face issues if your opening balances aren’t accurate and the information you transferred across is incorrect. A bookkeeping health check is recommended for those that have transferred to a new accounting software to ensure everything has been done correctly. 

It is also common to struggle with getting used to new software features that you may not be familiar with. But try to make the most of this. Perhaps your previous software didn’t have an app, but now you can do your invoices and keep track of receipts on the go with the Xero accounting app. 

What accounting software do we recommend?

The best accounting software works well with you and your business and slots in easily with your everyday processes. 

At Steele Financial, we recommend that our clients move to Xero if they are not using it already. Xero has all the features you need to run your business. It keeps all your financial data in one place and simplifies everyday tasks such as paying bills, keeping track of your inventory, sending invoices or claiming expenses. It also links to PayPal and copes well with foreign currencies, should your business require this. 

How can I get help when switching?

Moving to Xero or any new accounting software can be stressful and time-consuming. At Steele Financial, we are experts in moving businesses to Xero and getting them set up. We can help tidy up your previous accounts and get on top of organising your new ones. 

Get in touch if you want to learn more about moving to Xero and how we can help you and your business.

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