Boring Post Alert.
Running a business can be so much fun, and do not get me wrong, I adore my job, and the path my career is now on. Quitting my career in education, to start my businesses has been such a fabulous experience.
Then there are the accounts and bills.
Is isn't that I find the actual skills needed for accounting overly challenging, I have a pretty 'logical' brain, rather than a creative/spatial one. As my business has grown, to include staff other than myself, and a second salon space, my accounting systems (for taxes) were just no longer adequate.
I used to use excel spreadsheets, but these had reached a point when they were no longer viable for me.
I tweeted out, about neededing some sort of accounting software, and freeagent was suggested to me. They do a free 30 day trial, which I promptly signed up for.
I've now been using it for about 6 months, both to back date last tax year, and moving forward to the current one. The backdating has taken a while, but I'm very nearly there, and in a way I'm a bit excited about my accounting future (oh yes, I'm that lame).
I've been self employed for about 4 years I think, and as each tax year passes, my understanding of the process gets a little better, and my systems improve a tad. However, now with this system in place, I'm really there. I finally have a system to manage my cash flow, my taxes and my profit/loss.
Things I love about freeagent:
1. It links to your bankaccounts and paypal and can directly pull all of your transactions. You just then assign each transaction to a cost/expense/sale etc.
2. It can pull together all of the information for your taxes, and even submit them on your behalf.
3. The support staff have been incredible. I email them pretty regularly with random "How do I do this..." questions and they always take the time to log into my account and directly help me. They even sent me truffles for Valentines day.
4. Aesthetically it pleases me. It's laid out clearly and doesn't make your eyes want to weep.
5. I feel like it offers me a long term solution to the overwhelmingness of running the accounts of a business.
Now, as I was writing this post, I noticed that freeagent run a referral scheme. If you end up signing up, we both apparently get a 10% discount. Therefore I've made the links in this post referral links (just so you know).
But this is not a sponsored post. I pay and use this system, and believe that many other small businesses could benefit from trialling this (or similar) systems. It's definitely helping me see the light for the trees!
Boring Post Alert Over.