Software That Makes Using Bookkeeping Software Easier to Use for Sole Traders

Accounting and bookkeeping software should help you keep your business running smoothly. However, without the right supporting software, you may spend more time than necessary on your books, even if you’re using online bookkeeping services for small businesses.

Accounts Payable Integrations for Sole Traders

Accounts payable (money owed) and accounts receivable (money coming in) are often treated as two separate pieces in bookkeeping software for sole traders. Even if you employ an online bookkeeping service, you may still spend your valuable time manually entering invoices or sorting papers.

Accounts Payable Integrations for Sole Traders

Accounts payable integrations (APIs) take the manual work out of adding invoices to your bookkeeping software. An API puts everything in one place, whether it’s a paper invoice or a digital one sent through a system that doesn’t integrate with your online bookkeeping software.

When you’re doing bookkeeping for sole traders, it’s a game-changer. There are no missing invoices, duplicates, or manual data entry to slow you down when you need to look at your books for something. Even virtual bookkeeping services are easier to use since no one is missing numbers.

Accounts Payable Integration Applications

Many API applications help you with bookkeeping for your small business. Some work with multiple software packages, while others only integrate with one, so checking for compatibility is essential.

Hubdoc

Hubdoc is one of the more popular options that integrate with multiple bookkeeping options for small businesses. The software extracts information from pictures and uses a few rules you set up to send the information to your bookkeeping software for small businesses in a useful format.

Auto Entry

Auto Entry also integrates with the top bookkeeping software services for small businesses. Auto Entry extracts data from invoices, receipts, bank statements, and anything else you might have as a sole trader that you need for bookkeeping.

Dext

Dext offers multiple solutions for small businesses. Its Dext Prepare option helps you extract all of the accounting information you or your bookkeeper might need from documents like invoices so you can keep your books updated.

Scan and Capture

Scan and Capture does exactly what the name says. This option is great if you want to create searchable files and export them how you prefer since it offers more choices. Scan and Capture also helps you optimize other areas of your sole trader or self-employed company as well.

Bookkeeping Reporting Software for Small Businesses

What is Reporting Software?

Reporting software takes data from various sources to create actionable reports about your business. Online bookkeeping services, for example, might use reporting software to show you a complete picture of your business books each month.

Why Bother with Reporting Software for Sole Traders and Small Businesses?

Using reporting software in bookkeeping for sole traders is a great option that helps you make decisions. The reporting software turns all of the bookkeeping numbers into something practical and usable quickly.

Ultimately, a sole trader must decide where to allocate resources, what to outsource, which products or services are most profitable, and more. Reporting software helps you make these decisions using data.

Reporting Software Applications

Syft

Syft integrates with the most popular software platforms and uses the data to create in-depth financial reports. Syft is a favourite of virtual bookkeeping services since it works securely with other software, even if it’s not strictly bookkeeping software.

QuickBooks App

QuickBooks goes beyond the basics of bookkeeping and also offers in-depth reporting capabilities. Typically, the reports are limited by the data you have in the application, but it works well for a sole trader.

Xero App

Like QuickBooks, Xero also aims to be a one-stop shop with in-depth reporting features. The reports are customizable and available on anything you’ve stored data on in the application for maximum convenience.

Need Bookkeeping for Sole Traders or Small Businesses?

Setting everything up and ensuring your business books are balanced within accounting software can be daunting. Fortunately, you don’t have to figure it out alone.

Contact the experts at Sherlock Accounts for online bookkeeping services today!