So many financial software packages. How do I choose and what’s your go-to recommendation?

My go-to recommendation is, stick with what you know but learn to use it fully. 

Get someone to train you, or set it up for you so you’re using it to its full potential.

I’ve worked with many businesses that are using software that aren’t using it properly, and it causes all sorts of problems for their business.   

But don’t just stick to one way of doing things because it’s the way you’ve always done it. 

Often Xero works better. It’s always going to be my go-to for financial software because I’m a certified partner. 

However, Xero isn’t going to work for every type of business. 

For some businesses, spreadsheets do work better than software. 

There are many businesses that Xero can’t work for. 

And in those circumstances, we’ve made their existing systems work even better for them. 

It’s all about the process. 

For example, we’re working with a locksmith who invoices one address and carries out work at a site address. He was using an existing invoicing system software to invoice from the site he carried the work out at. But his accountant wanted to move him to Xero to be tax digital. We’ve done that by getting his invoicing system to talk to Xero. It was crucial that he maintained the ability to invoice on-site when he was there before he gets on to his next job. Otherwise, he’d be spending all his evenings and weekend invoicing.

So we made it work for him. There was no change to him, but a lot of paddling below the surface by us –  like the swan analogy – to make it work for him. 

Don’t be fooled into believing that anyone method or software is better for your business. 

Consult with someone who has experience with different types of systems, software, and processes, and especially someone who takes the time to understand your business thoroughly.

If you want some free advice on how to choose the right software for your business, with a little superstar treatment thrown in, contact us on:

Email: info@jaxstarsolutions.co.uk

Telephone: 020 3362 4436

Mobile: 07811 393520

Website: https://www.jaxstarsolutions.co.uk/

However, leaving it to the last minute comes with so many risks, the biggest being that there might be something preventing you from completing it on time. With an instant fine of £100 if you miss the deadline, and daily fines of £10 (for up to 90 days) if you haven’t filed by 30th April – there are plenty of financial incentives not to be late.

Besides the obvious problems shown above, we at Jaxstar solutions know there are a few more very persuasive reasons why you should complete your Self-Assessment before the Christmas holidays…

It gives you more time to save for your tax bill

Unfortunately, there is no getting away from the fact that we all have to pay taxes, it’s good to know how much you owe and then be able to plan accordingly. Christmas is an expensive time of year, so it helps to know what future liabilities you have coming up, and how much you have leftover to play with.

You might receive your refund in time for Christmas/New Year
Obviously, we can’t promise that this will happen! However, if you are due a tax refund, wouldn’t it be lovely to have it in your bank account instead of HMRC’s? The sooner you provide all the information, the sooner your tax calculation can be completed, and that means you might get a nice cash bonus to enjoy during the festive season!

You have time to ask for help if needed

Self-Assessment forms can be complicated, and if you leave it until the last minute, there will be less time to sort out any queries, and you will be putting yourself, and your accountant, under unnecessary pressure to provide all the information in time.

You can relax over the Christmas break

We all know having a looming deadline in the back of your mind can drive you mad, especially at Christmas when you are supposed to be relacing with your family. If you get your Self-Assessment filed before the Christmas break you’ll be free to relax with a clear conscience, to fully enjoy the festive season with the satisfied feeling of having all your ducks in a row.

You can start the new year free to focus on plans and objectives

January is the perfect time to step back from your business, to think about what’s working well, and also what you’d like to change. Setting goals and sketching our a plan to achieve them is the most important thing you can do to bring success to your business. If you have got your Self-Assessment tax return out of the way, you will be able to dedicate time at the start of the year to planning your business success, rather than worrying about tax deadlines.

Jackie Forster

Jaxstar Solutions is a valuable resource used by Small Businesses and Corporate organisations to help in the day to day running and operational side of their business, enabling them to get back out there and do what they do best…sell their products and services to make money.