Only one-fifth of SMEs use software specifically designed for accounts
management, according to an online survey conducted by Kashflow.
The research showed that almost half of all micro-businesses manage their
financial accounts manually using paper and pen, while others mostly use the
spreadsheet computer program Excel.
The survey also found that one in three owner-managers believe they spend too
much time dealing with non-core business activities like paperwork, credit
control and statutory financial requirements.
Sotiris Spyrou from Kashflow said: ‘Providers of accountancy software must
understand that owner-managers aren’t accountants or necessarily skilled users
of IT. Most regard keeping financial records as something they only do to keep
their accountant and the taxman happy.’
Only 5% of the organisations surveyed used accountancy software from Sage,
with users of MYOB at 4% and Quickbooks at 2.5%.
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Barclays has partnered with accounting software company Xero to provide businesses with access to transaction data through its direct feed.
Government's estimate of a £400m admin saving from Making Tax Digital is way off - and is instead a huge cost burden, warns Lamont Pridmore chief executive Graham Lamont
Xero unveiled its expanded global partner programme at Xerocon South, the accounting technology conference in Australasia