Fair is fair: you have not become an entrepreneur because you love administration. Otherwise you would have become an accountant. It is unfortunately part of it. Fortunately, you don't need to spend much time on it by keeping your records online. That is relatively easy and you can also access accurate, up-to-date data from anywhere. Another option is to hire an accountant. We look at the options.
For small businesses: start in Excel
Small companies can keep their own accounting in Excel. This is especially suitable for companies that do not yet have as many customers and therefore do not yet send as many invoices. With a small accounting system there are not many bank transactions, so it is not necessary to be able to gain insight 24/7.
However, this does not mean that the bookkeeping may lag behind. The entrepreneur must regularly do the books (or have them done) to comply with the requirements of the tax authorities.
Excel is great for start-up companies, but take growth into account. As soon as the company starts to grow, the accounting system grows. Then an Excel sheet could quickly grow above your head. And also think carefully about your account: do you continue to work from your private account or do you opt for one business account?
For larger companies: accounting software
Larger companies can better skip Excel and immediately look for a decent accounting package. The finding of accounting software that fits the company can be tricky, because there are many different packages that all have their own functions and possibilities. That is why the entrepreneur must delve into the different packages.
In addition to complete packages, there are also services that can be used to simply send an invoice. Digitalefactuur.nl is an example of this. In addition, you can also make quotations and keep track of them with a CRM, but of course that is not an accounting package.
Know your numbers
An online accounting program ensures that you know the numbers. Many entrepreneurs do not have this in order: they fail in the administration. Knowing the numbers is crucial, because then you can intervene on time in the event of an upcoming emergency situation. For example, you have the insight to be able to postpone an expensive purchase. Some accountants have already saved many clients from bankruptcy in this way.
Another option: hire an accountant
Those who are not very handy with numbers, or do not want to spend time on accounting, can relinquish this. In such a case it is wise to hire an accountant. Even for self-employed people this is a good idea. A bookkeeper knows everything about the latest tax regulations. That way you can always make the right choices.
Compare and make assessments
It is best to know which accountant and which accountant in the region suits you compare bookkeepers. What does your company need to grow? What activities must the accountant do? Or what exactly should the software be able to do? Also not unimportant: what can it cost? If you have an idea of the answers to these questions, finding the right accounting software or accountant is easier than you think.