What accounting software do you recommend?
The best accounting software application makes it easy and also easy to keep accurate financial documents for expenses, earnings and also purposes. Having the best plan is non-negotiable if you’re attempting to run your very own small company organization, as well as the sooner you deploy one of the most effective accountancy bundles the better.
While there are standalone platforms for invoicing software programs as well as tax software programs for local businesses, typically your accounting systems will be much more detailed.
Below we’ll include the most effective accountancy software presently available on the market, as well as additional choices to think about.
The best accounting software makes it simple and easy to keep accurate financial records for expenses, profit and purposes.
Having the right package is non-negotiable if you’re trying to run your own small business, and the sooner you deploy one of the best accounting bundles the better.
QuickFile is a cloud-based accounting package aimed primarily at small to medium-sized businesses in the UK and is fully Making Tax Digital compliant. It comes in an array of five different styles to suit different requirements all of which are useful during the ongoing coronavirus crisis. All packages come with a decent collection of accounting tools, although the budget models also feature advertising as the trade-off. More advanced features allow you to speed up your workflow via automation, while QuickFile has a customizable interface that enables the generation of professional invoices.
QuickFile comes in a range of size options making it an affordable solution for small to medium-sized businesses with fairly minimal budgets to spend on accounting.
- Good range of package options
- Beefy features
- MTD compliant and integrates nicely with other major services from HMRC, Google, PayPal and Dropbox too.
- Less features in free edition
- Adverts in gratis version
QuickFile is an affordable option, especially if you’re a small to medium-sized business that wants to keep a tight reign on costs. Pricing-wise there are a handful of editions, with the Extra Small (XS), Small (S) and Medium (M) bundles all being free. The Large (L) and Extra Large (XL) editions of QuickFile are paid-for models, priced at £45 plus VAT per year. You can therefore pick a package that you think will suit your business needs. This can also be determined via Company Settings inside the Account Settings area within the program. Meanwhile, Automated bank feeds cost £15 plus VAT per year and additional file storage is £9.99 per GB, annually.
Xero is cloud-based accounting software that packs a real punch when it comes to features and functionality. Based in New Zealand, the multi-faceted package currently comes in three incarnations and is aimed at small, medium and large-sized businesses.
With a regularly updated appearance, and new features being added all the time even during the coronavirus pandemic, Xero continues to expand its popular appeal and now enjoys a healthy following. If you’ve got a business that’s going places, needs dynamic accounting capacity and the ability to add in multiple users then the newest version of Xero requires further investigation.
Xero does a fine job of mixing an enjoyable and modern-looking user interface with a huge collection of accounting features and functions. For the money that makes it a pretty formidable package and with its cloud-based dependability and use-anywhere feels along with the ability to scale up its capabilities with app add-ons mean that Xero is impressive on most fronts.
- Temptingly cheap Starter plan
- Excellent mobile apps
- Fully expandable
- Basic plan has limitations
- Costs start to add up
- Some limitations
Starter – £12/month
Standard – £26/month
Premium – £33/month
Sage Accounting makes a good first impression with its clear and gimmick-free pricing. The top Sage Accounting plan offers decent value and there is also a 90-day free trial. Sage delivers a slick but simple to use accountancy package that will appeal to small businesses. The British company has been for 40 years or so, and as a result, has evolved its software to suit the needs of a very diverse portfolio of customers. The great thing about this package is its flexibility and can be configured so that multiple users can make use of its many and varied accounting tools.
Sage Business Cloud Accounting will suit any small business users who don’t need or want unnecessary features and functions. It ticks most boxes though for more scalability you’ll want to plump for the Account package over the Start option.
- Good value proposition
- Neatly presented and easy-to-use
- Impressive customer support
- Basic options quite limited
- Paid for means more to learn
- Steepish learning curve
Start – £12 +VAT/month
Standard – £24 +VAT/month
Plus – £30 + VAT/month
QuickBooks is an instantly recognizable name in the world of accountancy and bookkeeping. It’s owned by Intuit, which also has other options for small businesses and large ones too, with a diverse portfolio that includes Turbotax, Mint and Proconnect. QuickBooks also comes in numerous different varieties, from desktop editions to the hugely popular Online edition.
QuickBooks is a comprehensive solution to small business finance, covering all the essentials from payroll, to estimates and invoicing, along with employee time tracking. As the extras are added on, however, it does increase the cost, making this more of a full-service solution, rather than a value leader.
- Even basic plan is well-featured
- Lots of extras available
- Free trial
- Several versions
- Deals change frequently
- Lots to learn
Simple Start – £6 +VAT/month
Essentials – £10 +VAT/month
Plus – £15 + VAT/month
Best accounting software: how did we choose?
Choosing our selection of the best accounting software has involved trying out each of the packages featured here over a period of time. Our real-world testing scenarios include checking how accounts software performs generally, along with scrutinising all of the features and functions.
Best accounting software aimed at SME users needs to be straightforward and efficient to use too because not everyone has experience of accounting. Therefore, simplicity and value for money are two major factors we also look out for.
Similarly, the best accounting software also has to be flexible and adaptable in order to suit the needs of business users as well as featuring compatibility with other software, apps and cloud-based backup tools.