WinWeb

The Benefits Of Invoicing Software For Small Businesses

May 14, 2010

Invoicing software could help your business if you struggle every month to collect the payment that you are owed by your customers, as one way that you could increase the likelihood of being paid on time is to improve your invoicing. The best way of doing this is to start using online invoicing software.

Switching your invoicing software to an online invoicing system will make the whole process far easier and allow you to be more organised. It allows you to send professional looking invoices to your clients and keep track of who you have invoiced. This will avoid confusion and make you less likely to forget to invoice clients. It is also possible to send automatically recurring invoices to your repeat customers, saving you time and hassle.

Online invoicing software also allows you to send quotes to your customers with a click of a button. You can keep a record of all your customer details using an online addressbook and keep track of whether they have paid their invoice by using the Customer Payment Reporting function.

How we can help…

WinWeb.com knows that better invoicing software improves cashflow. This is why we provide the following services:

Invoicing Software – Professional invoicing that will help you to get paid on time. Easy invoice and payment tracking, with the option to set recurring invoices. Our Invoicing Software makes getting paid easier than ever.

Finance Bundle - We offer a range of finance bundles to help you choose the right selection of software and services for your small business.

Contact us for further or details, or visit our website to find out more!

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Accounting Basics for Small Businesses

April 27, 2010

Accounting is often called ‘the language of business’. It is the process of recording and reporting financial data. Keeping track of money is a necessary requirement for all businesses. Many businesses hire accountants to manage their money on their behalf. Small businesses are more likely to purchase accounting software and attempt to keep track of their finances themselves.

There is a lot more to accounting than simply counting money. Investors, lenders and potential buyers will need as much information as possible on the financial health of your business before they can even consider contributing any money. If you have made it a priority to keep good accounting records then you will be able to examine the data and learn a lot about your business. It is possible to determine all sorts of things from accounting data, ranging from levels of customer retention to the popularity of a particular product that you are selling.

Choosing the right accounting software for your business is often a difficult decision. You will soon find that selecting the correct one will improve your productivity and reduce the amount of time you waste on paperwork. However, if you make the wrong choice it could be a very expensive mistake. Some providers will even charge you a huge premium just to provide you with any kind of support for their product.

Most small businesses have a long list of requirements when it comes to accounting software. The most important factor for many of them is that the software is easy-to-use. Unless you are an accountant, using accounting software can often be difficult. Make sure that you choose software with a simple interface that allows you to enter data quickly and easily.

The reporting function is a critical part of any accounting software that you use. If you are unable to generate quality reports from the data that you are entering into the system then you are wasting your time. Creating reports used to be one of the main functions of an accountant but now accounting software can do this just as well.

Online accounting software is an alternative that many small businesses are now considering. It allows them to avoid the hassle of constantly keeping their software updated or purchasing new versions, whilst providing a secure data back-up and easy accessibility.

How we can help…

WinWeb.com has been committed to providing affordable accounting software to small businesses for many years. This is why we provide the following services:

Online Accounting Software - Easy-to-use, accredited software designed with small businesses in mind.

Bookkeeping Service – Outsource your bookkeeping needs to our Business Support Services team.

24/7 Support – Free support for all our users, whatever time of day it is.

You can try our accounting software free for 30 days by visiting our website, or contact us to speak about your bookkeeping requirements, with no obligation and no commitment necessary.

Bookkeeping For Small Businesses

April 1, 2010

Bookkeeping is an essential part of any small business. In order to make the process easier, many companies are now use online bookkeeping software to help them along.

Home or online small businesses may find that they benefit greatly from using online bookkeeping software rather than traditional boxed software. It allows them to access their bookkeeping records from wherever they are in the world and from any computer. They will not have to worry about losing their data because it is securely stored online.

Using bookkeeping software allows a business to quickly get a picture of how successful they have been recently. It gives a quick overview of financial performance that is much less time consuming than traditional bookkeeping methods.

Bookkeeping software will eliminate a lot of unnecessary paper records and reduce the overall amount of time a small business spends compiling financial records. Poorly managed books are one of the main reasons for small business failure. A large amount of time and money is wasted every year by small businesses that allow their financial records to become messy.

Don’t become one of the many small businesses that fail each year due to cashflow problems. Keep on top of your bookkeeping and your small business can become a success.

How we can help…

WinWeb.com wants to take the hassle out of bookkeeping. This is why we provide the following services:

Bookkeeping Software – Our software will make your small business bookkeeping simple, giving you more time to focus on running your small business. See just how easy it is by contacting us, with no obligation.

Bookkeeping Service – The WinWeb BusinessServices team can do your books for you; making your small business more efficient and giving you more time to spend with your customers. Take the worry out of you bookkeeping!

Try our software free for 30 days right now or contact us for more information.

Invoicing Software To Make Sure You Get Paid

March 25, 2010

As a small business cash flow is vital, meaning that reliable invoicing software is an absolute must. Finding the right invoicing software can save your small business time and money- meaning you never have to worry about forgetting or losing an invoice.

As a small business you need invoicing software that is easy to use, allows you to quickly invoice customers and keeps track of previous invoices reliably and efficiently. Having a system that enables you to promptly ask for payment from your customers in invaluable, keeping money coming in.

Just as important is invoicing software that keeps track of invoices that have previously been sent to customers; this way, if a customer is slow to pay you have definitive proof of an invoice being sent and a point of reference for any dispute that may arise.

Sending countless paper invoices, receiving cheques and managing all the paper work involved can be a nightmare for small businesses. Having an invoicing system that allows you to send invoices and receive payments online really could revoltionise the way you do business.

For any small business cash is king, emphasis has to be on cash flow, getting paid on time and being able to quickly and easily reference previous invoices, both paid and unpaid. An online invoicing software system allows you to do just that, all with the click of a button.

How we can help…

WinWeb.com understands how important cash flow, and getting paid, is to small businesses. It is with this in mind that we created our products.

Invoicing Software – Our invoicing software is reliable, and affordable, meaning you can keep the money coming in.

Online Payments – With WinWeb you can accept credit cards through PayPal, saving you time!

If you’ve got any questions about how WinWeb’s online invoicing software can help your small business please contact us, or why not sign up for our 30 day free trial to see just how beneficial it could be for your small business.

Why Online Accounting Is A Must For Small Businesses

March 22, 2010

Accounting causes a headache for many small businesses; but could moving to online accounting really solve this common complaint?

Online accounting holds many benefits over traditional accounting software. The first benefit becomes evident before you even start inputting data; there is no installation necessary on your computer, meaning you can start straight away. By using an online, browser based, system for your accounting there is no need for frequent updates on your computer saving you both time and money.

Online accounting provides a perfect solution for small businesses giving you access to anywhere, anytime accounting. You can access all your up to date financial information from any computer, any where in the world, meaning you never have to worry about carrying precious data around with you when travelling.

Compatibility isn’t an issue with online accounting either; your business accounts can be accessed by using a PC or a Mac, and even through your Smartphone. If you have a Mac and your accountant has a PC this can be invaluable, allowing you both to view your small businesses accounts quickly and easily.

For small business owners online accounting can solve many problems, and as all the data is stored securely, remotely, if your computer crashes, or laptop is stolen, all your accounting information is safe and secure; giving you complete peace of mind.

If your small business is looking for new accounting software, online accounting systems can provide you with complete peace of mind, reliability and security.

How we can help…

WinWeb.com were the first company to gain Accreditation for its Online Accounting Software from the Institute of Chartered Accountants for England & Wales In 2005. We make online accounting easy, reliable and secure.

Full Accounting Software – WinWeb offer a full tri-ledger online accounting software. If you need a comprehensive accounting system this is for you!

Cashbook – For the non-bookkeeper WinWeb provides an easy to use bookkeeping system to help you keep on top of your finances.

Financial Forecasting – WinWeb’s online accounting software will show you just how your business will perform over the next thirty days.

To find out more ways that online accounting could help your small business contact us, or sign up for a free trial, today.

Dealing with Auditors

March 13, 2010

Even the most law-abiding business owners get nervous when the Inland Revenue decides to conduct an audit on them. It takes a lot of time to prepare for an audit and you will likely need to work closely with your accountant so it won’t be cheap.

Small businesses are around three times more likely to face an audit than an individual. However, there are certain steps you can take to make the auditing process run more smoothly.

Avoid doing anything that will raise a red flag to the taxman. If you have a home office, consider skipping the deductions. Businesses are often subject to scrutiny if they claim on home office maintenance or utilities, especially if they also have another office elsewhere.

This may seem obvious, but make sure that you keep all your personal and business expenses completely separate. Have a bank account and credit card specifically for your business activity.

Don’t file a messy, handwritten tax return or make numerical errors. This will draw more attention to your returns than is necessary. You should always avoid estimating expenses or income because it won’t match up if a customer or supplier claims the exact amount.

Of course, the most important thing you should always do is pay your tax bill on time! For online accounting software that will help you get more organised, visit the WinWeb website.

Invoicing Tips For Small Businesses

March 10, 2010

Whenever your business sells a product or provides a service, you need to provide an invoice. Invoices not only inform the customer how much they need to pay, but also give you and your customers a record of the tax related to that sale.

There is certain information that you should always include whenever invoicing somebody. The name of your company should be somewhere on the invoice, along with the date and a unique reference number for the customer to refer to in case they need to query it. The purchasers name and a description of the purchase must be included, along with the total cost. Don’t forget to state the payment terms for the invoice to avoid ambiguity over when it should be paid.

If you have received invoices from small businesses or tradesmen in the past, you will have noticed that the quality of the appearance of these can vary greatly. Some companies put a great effort into making their invoice stand out from the pile and treat it almost as an additional form of marketing. On the other end of the scale, it is still not uncommon to get a scrawled piece of handwritten paper demanding payment – this is slightly less impressive!

Using our software allows you to create high quality invoices with ease. Try it free for 30 days at the WinWeb website.

Finding Alternative Sources of Finance

February 19, 2010

This week’s survey from the Institute of Directors (IOD) suggests that nearly 60% of UK businesses were refused credit from their bank in 2009. Despite the Government having spent billions of pounds on quantitative easing in the past year, it seems that not much of it is actually making its way to small businesses in need. If your business has been refused credit recently, there are a number of alternative sources of finance that are worth investigating.

The most likely source of additional finance for your business is family and friends. Although many small business owners are reluctant to ask for financial help from loved ones, it often ultimately makes the difference between business survival or failure. It doesn’t necessarily have to be a loan either – instead you could offer them equity and they would then own part of the business.

A slightly riskier option to overcome a short-term financial crisis is by using your business credit cards to cover expenses. According to the IOD, 20% of UK businesses were forced to do this in 2009. Don’t forget that you will be hit by high interest charges if you are unable to pay these off promptly.

Your business may be entitled to various Government grants that you are not aware of. Financially sound businesses that have been refused bank loans but want to expand are those most likely to benefit from these schemes. Do some research on the Enterprise Finance Scheme to see if your business qualifies.

For small investments, it is often worthwhile to search for an ‘Angel Investor’. These are individuals that will offer you money in exchange for a share in your business. They will only invest if they believe strongly in your future plans, because they will lose their investment if your business fails.

To get a grip of your businesses finances, and plan for the best and worse case scenarios, use the accounting module available from WinWeb. You can even try it free for 30 days!

Managing Your Small Business Assets

February 6, 2010

Anything that your small business owns is considered to be an asset and should be listed as such on the Balance Sheet. Some assets are intangible and are not physically owned by the business (e.g. stocks or patents). The cash and inventory that the business owns at the moment is referred to as its current assets.

In business terms, a fixed asset is a purchase that has an ongoing use over a number of years. The most common items that a small business might list as a fixed asset are computers (including high-cost extras like printers and software), office furniture and equipment such as the telephone.

Fixed assets are subject to a process known as depreciation. This involves calculating the wear and tear on the object over the years that your business uses it. Depreciation is important in order to avoid the value of assets being overstated on the Balance Sheet – a piece of equipment is worth far less in its fifth year of use than when it was first purchased.

To calculate depreciation you need to know the date on which you started using the object and how much it initially cost. You must also have an estimated lifespan for the object and whether it will still have any value when you come to dispose of it.

Remember that not all fixed assets are subject to depreciation. Land or real estate will often increase in value year-on-year.

Try the Balance Sheet in the Accounting module of OnlineOffice free for 30 days by visiting www.winweb.com

Improve Your Cashflow Management

January 30, 2010

Cashflow is often described as being the lifeblood of small businesses. Without careful management of cashflow a business can quickly get into financial trouble. A lack of cash can be hard to remedy, especially if the business needs to purchase supplies before it can make further sales. Without additional investment or a bank overdraft to help out the business, it will often lead to disaster.

However, there are number of small things you can do to avoid this situation occurring. The most important of these is receiving payment from customers as soon as possible, because until you have the money in the company account it is useless to your business. It is advisable to offer small incentives for swift payment to encourage customers to pay their invoices as soon as possible.

You should also be trying to do the exact opposite when it comes to paying company bills. Take advantage of a 30 or 60 day due date and use that time to set aside enough money to pay for it. With careful cashflow management you can make far more efficient use of your money.

Another important thing to remember is that your inventory is not cash until is sold. You may think that you will save a few pennies by ordering in large quantities, but if it cannot be sold then it is essentially just dead weight for your business that you may end up selling at a discount.

It is also advisable to make use of a Cashflow management tool like the one within OnlineOffice in order to make the process far simpler; it is fully integrated into the Accounting module and will give you much greater control over your business finances.

Try WinWeb’s cashflow management tool free for 30 days, just by visiting www.winweb.com !

Focus on Your Small Business Goals

January 25, 2010

The ‘Goals’ page is a useful place to store a written record of what you are trying to achieve. Here you can write a Mission Statement and 5 of your most important business goals. Reading this page occasionally will provide a ‘reality check’ for you or your employees and force you to evaluate your recent business performance.

There is also a page with a ‘SWOT Analysis’. This colourful diagram is a commonly used tool in business theory that helps to clarify the internal strengths and weaknesses of your small business. It also allows you to identify the external opportunities and threats that could have an impact on your company in the near future.

The most significant element of the Planning module is the Cashflow Tool. This will help you plan your business finances based on the banking payments and receipts that you have already entered into the Accounting module – another great benefit of having a fully integrated office software suite.

Try WinWeb’s vast range of business services free for 30 days at www.winweb.com

Keeping up-to-date with your Small Business Banking Online

December 29, 2009

With the help of OnlineOffice, it has never been easier for you to get an instant overview of all your banking activity, wherever you are in the world and at whatever time you choose.

The Banking section of OnlineOffice is the main hub for all activity relating to your bank accounts. This will include deposits, payments, and the transfer of money between accounts.

It is simple to add multiple accounts and set overdraft limits that will automatically recalculate your Cash Position Forecast. You can also easily enter payments that are not related to suppliers and set your account up to handle recurring payments such as direct debits or standing orders.

Bank reconciliation is a necessary error checking process that involves comparing figures from accounting records against those on a bank statement. If there are any transactions in the accounting records not found on the bank statement, they would be classed as outstanding. Regular reconciliation helps reduce errors and makes it easier to find missing purchase and sales orders. With OnlineOffice, you can instantly reconcile your bank statement up to the end of any month or period.

The Banking module is of course fully integrated with all other parts of OnlineOffice and is only one of a huge number of useful functions that subscribers benefit from using.

Try OnlineOffice free for 30 days @ WinWeb OnlineOffice

Recording Income & Expenditure Online for your Small Business

December 22, 2009

The Nominal Ledger (sometimes known as the General Ledger) is the main accounting record for any business using double-entry bookkeeping. It usually lists accounts for current and fixed assets, liabilities, revenue and expenses, gains and losses. It is often divided into two sections – the left hand showing debit transactions and the right listing credit transactions.

The basics of the Nominal Ledger are really quite simple. Businesses spend and (hopefully!) make money. The Nominal Ledger is an important way of determining whether you are making a profit, simply by looking at two core figures – the amount of money received and the amount spent.

As the business grows, it is likely to need more detailed information about which of its activities is profitable. By analysing the figures further, it may become apparent that some of the services offered are making a heavy loss and need adjustment. This is why all data in the Nominal Ledger is allocated to an appropriate Nominal Account.

Each Nominal Account is given a unique Nominal Code so that it can be easily identified. Accounting transactions are then assigned with these Nominal Codes so that it is possible to view what has occurred in that area of the business over a set timeframe. Therefore, the Nominal Ledger is essentially a list of the Nominal Codes within your accounting structure.

Try out the Nominal Ledger in OnlineOffice free for 30 days @ WinWeb OnlineOffice

Preparing Your Small Business for the VAT Change

December 18, 2009

Despite a continuing recession the UK VAT rate is set to switch back to 17.5% on the 1st of January 2010, after having been reduced to 15% for the past 13 months. It would be sensible for small business owners to prepare for this right now, before the Christmas break.

You need to make your customers aware of the rate change in some way. If you have a physical sales outlet, display an announcement somewhere about the rate change and how it affects your prices. Your website should display a banner or pop-up that will inform the customer about the change. This will help to avoid misunderstandings and disappointment.

Try to take advantage of the change in the run up to Christmas. Encourage your customers to purchase the items they want right now, instead of waiting until January. You should stress that the January sale is taking place in December this year!

The change will also affect your accounting and confusion may arise as a result. Remember that supplies and purchases bought before 1st January 2010 will always be charged 15% VAT, regardless of whether payment was made or received by that date.

WinWeb customers will notice that OnlineOffice automatically changes to the new VAT rate of 17.5% on the 1st January. Don’t worry if you find you still have transactions to post at the old rate of 15% – it is simple to enter these correctly.

Read our Helpdesk entry here for further information.

Why Working Online With An Accountant Will Benefit Your Small Business

December 17, 2009

One of the greatest benefits of OnlineOffice is the way it allows you to work collaboratively with your accountant, wherever they are based. Many accountancy firms are quickly realising that using online software gives them a great advantage over the competition.

It is a legal requirement to keep accurate financial records relating to your business. This can be a mundane task, but OnlineOffice makes it a far more efficient and cheaper process overall. The information stored is also easier to manage and will help you and your accountant review the performance of your business in a much more timely fashion than was ever possible in the past – this is critical in today’s global recession.

You can give your accountant 24/7 access to your account and they will see every entry. This will help to ensure that no mistakes are made. Your accountant will benefit from a greater knowledge of the financial reality of your business. The benefit of this is that there is unlikely to be any nasty surprises or panic over financial issues at year end. Collaborative working with your accountant will allow them deal with issues as they arise throughout the year.

Try OnlineOffice free for 30 days @ WinWeb OnlineOffice

Online Small Business Accounting Software with a Difference

September 20, 2009

Do you hate accounting and bookkeeping like most small business owners do! You don’t make any money by doing your accounting and any small business accounting software only costs money. The new breed of online accounting software promises to be cheaper and more efficient – and who would we be to disagree with that. But does it really solve your problem? In short it does not!

You’ll have to do the bookkeeping – online or off-line – either yourself or hire a bookkeeper/accountant to do it for you. Now you have another choice – WinWeb’s OnlineOffice Pro.

By using the standard OnlineOffice, all your invoices and online shop sales will automatically be booked inside the online accounting software module, so not you or anyone else does not have to do the bookkeeping, saving you money and more importantly time.

With OnlineOffice Pro Edition – we have now included our online bookkeeping service, so invoices and bills you receive will be booked by us for you, for a fixed monthly price. You just email us the receipts or fax them to us and we will take care of it for you. You just look at the reports and see how your business is doing.

Working with your accountant online you can now get the best your accountant has to offer, his business and financial advice. All this helps you to run your business and not getting dragged down by business admin.

So if you are planning to invest in small business online accounting and bookkeeping software, make sure you compare prices and service. Most online or off-line accounting software products are just that nothing else, while we include web-hosting, online file-sharing and data backup, business planning, cash-flow planning and much more.

Best of all we offer our OnlineOffice Pro with all these extra services for a better price than most sell only their online accounting software for.

Find out more @ OnlineOffice Pro – Your Office Online.

Managing Your Small Business Day-to-Day

August 29, 2009

Keeping your business running smoothly requires discipline and efficient time management. It’s easy to get bogged down with tasks that seem urgent and postpone activities that might not seem to require an immediate response. The following tasks should be scheduled into your working week and stuck to! Postponing something by half a day can make good business sense, letting it pile up for 3 weeks can leave you in more trouble than you realise.

Bookkeeping. Keep on top of your bookkeeping. Know what is going into your business bank account and what is going out. As always, this seems like an obvious statement but it is also an important one. Having an up to date knowledge of your accounts will assist you in making your business decisions and not leave any nasty surprises at month end!

Cash-flow. We’ve mentioned this before but keep on going back and revising your cash-flow plan. It’s very unlikely your first, second or third attempts will be completely accurate and as with the bookkeeping, it will help you make a more informed business decision in the long run. Your cash-flow will help you make positive decisions about the future of your business.

New orders/business. When you’re up to your neck trying to serve your current set of customers this can seem like the last thing you will need. If you have the luxury of being busy with customers, you will probably get the benefit of word of mouth advertising that is invaluable for any business. However, there’s a chance that your products and services are seasonal or will not need regular renewals by your customers. Ensuring you have as steady a stream of customers as possible knocking on your business’s door will keep your business ticking over in the quiet times (which every business goes through).

Get paid on time. This isn’t only about being strict with customers who haven’t stuck to your credit payment terms. It is also about being diligent enough to send out your invoices on time, to the correct address and making sure they are completely accurate. Any administrative errors could set back your invoices by weeks and if you are waiting for a large sum of money this could have a significant impact on your business.

Contact. Make sure people can contact you. Although your customers should be number one here, you should consider suppliers, contractors and whoever else is involved with your business. Missing a message because you’re away from the phone is no longer acceptable with the technology available today. A customer will feel better leaving a message with a person (even if that is a family member or Virtual Assistant) rather than a voicemail that could go un-noticed for some time.