Today, you will find many online accounting service options for small and medium businesses. Most are cloud accounting software. However, there are still some desktop accounting services available in the market. But generally speaking, most accounting software are online with two basic prime features; simplification and user friendly. Remember, double-entry accounting is complicated at the best for which a simple, understandable experience is critically important.
Before we move to the names of best small business accounting software, we need to comprehend what does online accounting do for you and what are common features amongst these software.
- User friendly interface and navigation: you will notice that most accounting software are not graphically rich and this makes sense. There is no need for extensive graphics until and unless the software covers charts, graphs and invoice forms. Most online software are built on premises of desktop software; drop down lists, static pages, icons and buttons, fill in the blank fields and toolbars are much like the desktop applications.
- Subscriptions: unlike desktop software where you paid few hundred pounds upfront, online accounting software are charged on subscription basis. Desktop applications are generally expensive and need upgrade every 12 months. Most of the times you may realise that the application has many features that were charged and useless for you at the end of the day. In contrast, most online cloud accounting software offer free trail at £3 to £60 per month. They do not have any lock in contract and offer free built in upgrades. Most importantly, they are cloud based and have data back up. All they need is an internet connection.
- Multiple versions: the best part for most of these accounting software is that they have pay what you use feature. The app developers create multiple versions of the application and you can choose which version is closest to your needs.
- Mobile Versions: As cloud accounting software are internet based, they can be accessed from any place. The developers have kept this in their mind and introduced mobile versions that may not offer all but the main features at least.
- Integration with complementary add-ons: the best accounting software UK are built around the idea that once small businesses grow, they will have to switch to next level of cloud based financial management applications like NetSuite. Add on solutions like invoicing and inventory management or any particular area features are available from app houses like QuickBook and Xero.
- Interactive homepages: small business accounting software UK or any other place, have usually interactive homepages that offer comprehensive dashboards. These dashboards give an overall view of accounts and flag tasks that may require immediate attention. Some of best apps have links to working Windows in the dashboard.
The best accounting software available for small businesses in UK are:
- Sage
- FreshBooks
- QuicKBooks
- ClearBooks
- Tide
- GoDaddy Bookkeeping
- Kashoo Online Accounting
- Kashflow
- LessAccounting
- One Up
- Wave Accounting
- Xero
- Zoho Books
- FreeAgent
- AccountEdge
But before you choose one for your business consider few basic things like customizability, scalability, mobile versions, subscription fees, add-ons, third party integrations, back end customer support service and most importantly how many staff members can log into the site and how far you can restrict what each sees according to their roles and duties.
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