Codestone

Category: Accounting software

Firms that are using accounting software in order to deal with the financial side of their business may find that new regulations proposed by the government benefit them.

The Department for Business, Innovation and Skill has revealed that a proposal is in place to reduce the amount of administration and auditing tasks companies must carry out.

In turn, this will likely reduce the costs associated with such activities, enhancing the outlook for many organisations.

Indeed, some 100,000 businesses in the UK could save more than £600 million if the scheme is a success, the department stated.

Edward Davey, the minister responsible for corporate governance, said: "The proposals we've published today are aimed at removing European Union gold plating and freeing up enterprise, which ultimately benefits the whole UK economy."

This summer, Terry Forsey, a software sales and marketing coach, told of the benefits of adopting accounting software, which include the ability to save money.

Posted by Jack Gilbert