Accounting software allows businesses to manage their accounting records in a structured manner. It also offers financial management tools such as budgeting and forecasting. These tools are used by businesses to project their future expenses, revenues and to make informed decisions in order to maximize their business' profitability and efficiency.
An online accounting system is important for all businesses, whether they are established or new. It should be able track inventory, manage cash flow, report and file taxes.
There are many kinds of accounting software. Each has its strengths and weaknesses. Some software is designed for small to medium businesses. Others are more advanced and are intended for larger companies.
Quickbooks – Quickbooks is an accounting software that's been used by small and medium-sized businesses for over twenty years. It is free and has many features including tax preparation and invoicing.
GnuCash, an open source app, was developed to replace Quicken. It handles invoicing and credit notes as well as accounts payable and receivable.
Sage - Sage is another well-known accounting program. It's designed for small- and medium-sized businesses. While it's not as extensive as other offerings, it can save you money on payroll and accounting costs.
Certify- This software is a great option if you need to track company expenses. Its smart reconciliation tools automatically identify potential matches between bank statements and bills or invoices that you've entered into the software, saving you a lot of time and effort.
Deskera Books, a robust and feature-rich cloud-based accounting software that's primarily designed for small and medium businesses. Deskera Books can be a strong system with lots more muscle. It can handle all of the financial functions and also supports multiple currencies for businesses that deal with international customers.
FreshBooks – If you're a freelancer, self-employed professional or a business owner, this cloud-based accounting system will simplify your finances, and allow you to manage your time and expenses better. It is an easy-to use, double-entry accounting and invoicing solution that also features time tracking.
Capium - A newcomer in the UK accounting software market but with a solid reputation for tax and account creation tools. Its price is slightly higher that other solutions on this table, but it can provide more sophisticated accounting tools at a fraction of the cost.
Kashoo- Kashoo has been around for 10 years and is cloud-based accounting software. The software is affordable and includes a number of features that can be used by small and medium-sized companies. It also has a good reputation in the industry for offering simple and easy to use accounting software.
OneUp – OneUp has been in business for five year and is cloud-based. OneUp was designed to be easy-to-use and offer a variety of automation features that can take care of 95%. It can also accept a wide range of payment methods making it an attractive choice for small- and medium-sized business.