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%.
Big Four firm Deloitte has announced its investment in blockchain start-up SETL as well as a partnership with VTC Group
Clients and business advisers can now connect to small businesses through a Facebook Messenger chatbot service, provided by Xero
It has been another glittering night in the accountancy calendar. A range of practices big and small, plus outstanding individuals, have been rewarded for their efforts in the British Accountancy Awards 2016
Making Tax Digital responses to the consultations expected in January 2017