Business accounting software
Advice on the best small business accounting software in the UK.
Why do you need accounting software ?
If you run a small business then you’ll need to get yourself some accounting software to help prepare your annual accounts and VAT returns accurately and to save your time rather than keeping manual books !
The best software for accounting
There are many accounting software packages on the market today for both windows PC users and MAC operating systems and vary between software you download onto your computer and work offline to some new packages that are updated online over the internet.
The most popular is Kashflow run by Duane Jackson - he offers a monthly or annual subscription preceded by a 60 day free trial offer so you can get a feel for the product before you purchase it. Luckily Duane is a seasoned programmer so he is continually updating and improving it. I can hear him adding a program now. Even better is that is designed for non accounting people so you don’t need a degree to put in your daily sales and cost numbers. Worth checking out because you don’t need to download his software program you enter your data online so you don’t need to invest in computer hardware either !.
Other standard software that’s been around for years are from more established companies such as Sage Accounting and Mind Your Own Business - all comprehensive and also used by many accountants. You need to check with your accountant before you choose an accounting package as they may not be able to integrate it with their own systems.
The great thing about Kashflow is that your data can be imported into Sage - all good news for you as the small business entrepreneur and for your accountant who has probably been using Sage for years.
When you are looking for your accounting software ask the company whether it can manage sales, purchases, automated VAT returns, part payments for purchases and sales invoices, produces P&L, Balance Sheet and Cashflow statements (with graphs if required) and be able to reconcile your bank statements. In essence, for any investment you make in your business you want to save your time on detail and be able to spend more on running your business.
There are a ton of testimonials for Kashflow but you decide which software is best to keep your financial records straight for you, your accountant and the tax office.