It’s now easier than ever to run your business from home because of the variety of tech that can help you.  

When it comes to financial admin, the best home accounting software will make life easier for business owners, offering tools that make financial management quick and easy.  

In this article, we’ll describe the most important features to look for if you want to find the best home accounting software, such as: 

  • Invoice on the go
  • Get important cash flow insights everyday 
  • View running tax estimates 
  • Automatically categorise expenses
  • Share your real-time data with your accountant directly 
  • Receiving profit and loss statements
  • Do it all from one app

Knowing the benefits of good accounting software will help you know what features to look for when you choose accounting software for your home business. 

Save time

Financial admin can take a lot of time, so the best home accounting software is one that will save you that time and let you use it elsewhere. 

Countingup’s unique, easy-to-use app combines your business current account with accounting software. From there, it will save you loads of time by:

  • Letting you manage you finances from one simple app.
  • Automatically categorising business expenses. 
  • Showing you live tax estimates, profit and loss statements, and cash flow insights.
  • Giving your accountant access to your financial data. 
  • Letting you create custom invoices. 

Traditionally, accounting processes like these can take loads of time. But the 2-in-1 Countingup app gives you all the financial information you could possibly need in the palm of your hand. 

Invoice on the go

Even if you’re running your business from home, invoicing is still a necessary part of life. 

With the right accounting software, you can invoice your clients from anywhere. The Countingup app comes with built-in accounting software that allows you to carry out accounting tasks from home, on the road, or in the office. 

With the Countingup app, you can: 

  • Create an unlimited number of customised invoices.
  • Add a logo to invoice templates.
  • Send invoices to customers on the go.
  • Receive a notification when an invoice is paid.
  • Match a payment to an invoice.
  • Duplicate an invoice.
  • Change an invoice’s due date.

Features like this make customer payments a quick and seamless process, allowing you to create professional-looking invoices from home. For more details on Countingup’s invoicing feature, check out this guide about how to invoice clients.

Manage cash flow

Cash flow refers to the money that moves through your business, both income and outgoings, and keeping track of it is essential for success.

You can’t make the best financial decisions unless you have a complete understanding of your current financial situation. That’s where accounting software comes in.

Accounting software, like Countingup, updates your financial records as soon as you make or receive any payments. With a complete view of your cash flow,  you can easily manage your budget, create cash flow forecasts, and make the best decisions. 

Make taxes easy

Running your own business means you have to handle your own taxes. This involves keeping detailed records of your income and expenses, which can be both tedious and time-consuming. 

With accounting software, you’ll have detailed records of all the transactions in and out of your business account for the whole year.

Accounting software, like Countingup, will even show you tax estimates throughout the year, meaning you’ll know exactly how much you can expect to pay when you complete your Self Assessment tax return. 

To make life even easier, Countingup is compatible with Making Tax Digital

Making Tax Digital (MTD) is a new government initiative that allows businesses to submit their taxes online. 

The idea is to make taxes easier and more accurate, but it’s quickly becoming the norm and will eventually be mandatory, so you might as well adopt accounting software that can integrate seamlessly with the new process. 

Automatically categorise expenses

Recording and organising all your expenses is necessary all year round. Accounting software makes this whole process much easier. 

Countingup’s accounting software receipt capture tool allows you to make a digital record of any expense. When you spend on your Countingup business account card, you’ll get an immediate notification reminding you to take a picture of the receipt.

Once you’ve captured the receipt, the automatic categorisation feature lets you organise each expense into HMRC approved categories, so everything’s ready for tax records and available digitally. 

Connect to your accountant

Hiring an accountant is usually a good idea, especially as your business continues to grow and your financial admin gets more complicated. 

While accounting software can’t replace an actual accountant, it will make their jobs a lot easier. 

You can grant access to your accountant on Countingup, meaning they’ll have access to all the information they need to help you create reports, file taxes, and more. 

Instead of sending piles of documents for them to sift through, your accountant can look at your finances in real-time, allowing them to prepare your accounts for taxes, and advise you based on your financial situation. 

Sharing data with Countingup is fast, efficient, and safer than sending physical documents, and you can do it all from the comfort of your own home. 

Receive profit and loss statements

Understanding profit and loss is a crucial part of running your home business. An accurate income statement will allow you to:

  • Understand how much you’re making. 
  • Where you can save on expenses.
  • Where to improve the business. 
  • Present cash flow information when applying for outside funding. 

Countingup’s home accounting software shows you real-time profit and loss statements, allowing you to better understand your financial position and use that information to your advantage. 

Try out the best home accounting software for free 

Countingup’s home accounting software helps thousands of small businesses manage their finances. Designed specifically for one-person businesses, this unique two-in-one app is perfect for anybody running their business from home. 

With a variety of helpful accounting tools in one simple app, Countingup has earned its “Excellent” Trustpilot rating, with happy customers calling it:

Confidently keep your business finances on the right track. Download the Countingup app today.