Accounting Software-Any Suggestions

[@rannot]

HI ALL!!!

We are into Management Consultancy, till now we were using professional excel sheets to our financial reporting. Since, we are expanding, we are in a need of more professional accounting software that cab help us in managing our accounts well.

Are there any suggestions for us?

[SBOnline]

Hi,

To be honest, everyone I have worked with uses Sage - I understand the newest version makes it easier to raise invoices electronically as well.

Hope this helps.

[johndon68]

There is loads of choice available so Sage is no longer the 'be all and end all' and there are loads of threads on the forum if you do a search... :)

Do you have a preference for desktop or online based systems?

John

[@rannot]

Since we are not working at one part of the world, we would like to get something online.

[johndon68]

In which case, the ones that get mentioned the most on the forum are, in no particular order:

Xero
Kashflow
Accounts Portal
Fusion Accounts

Quickbooks have recently introduced an online version of their accounts software and Sage have dipped their toe into the water with SageOne albeit I'd suspect that SageOne will be far too basic for your requirements.

John

[@rannot]

thanks a lot John, much appreciated.

[Somecamel]

Also have a look at 'Freeagent'

[@rannot]

thank you :)

[Rickytaylor]

I would suggest Sage 50 as it is a very useful Accounting Software.

[@rannot]

Ok, I have taken all suggestions, thanks guys.

I am from India working for a UK based organization from India (i.e outsorcing). Will it pose a problem if I will use some Indian ERP accounting software for managing accounts of my UK organization?

Need help!!

[David Griffiths]

Most of the modern online systems knock spots off Sage in terms of usability and reporting. It does its job but I believe that underneath it still relies on a very old flat field database, and other programs are based on a more up to date model. It shows.

I looked at 8 of the online systems, and chose Xero at the end of the comparison. The reasons were varied, ranging from lack of user access control through the user interfact to the level of reporting. All of the programs that I looked at have moved on, so the comparison would be closer now, but Xero has moved on as well. It's been the system that I use for my own accounts for over a year, and I'm very happy with it. The time saved on bank reconciliations alone makes it worthwhile, and that's without having the automatic bank feeds. I have a dozen clients using the system and the basic feedback is that they like it and find it very straightforward

You say that you are not working in one part of the world, so multi-currency might be important to you. Check that out in the systems that you look at.

One option that hasn't been mentioned that I was quite impressed with is e-conomic. Along with Xero that strikes me as being most suitable to scale up to larger systems - not that all of the others can't of course

[@rannot]

Hi David,

Thanks for the detailed viewpoint. I myself taking free trial of 'XERO'

My only concern with the any online accounting system is "security". How secure my data is if I go for an online system?

[David Griffiths]

Hi David,

Thanks for the detailed viewpoint. I myself taking free trial of 'XERO'

My only concern with the any online accounting system is "security". How secure my data is if I go for an online system?

Arguably more secure than on your own machines because of the way that data is stored and regularly backed up in the data centre. The program is also regularly updated so you won't be working on an old version

You can download csv files of the data if you feel that you must have something on site.

I've heard the argument that people like to be in control of their data, so must have it on their own PC. Most people like to be in control of their money as well, but still let banks look after it. :) To me it's a similar thing.

You asked in an earlier post about using an Indian ERP system. For that to be suitable for the UK market it must cope properly with VAT, and depending on the size of your target market must at least be able to cope with VAT cash accounting, and probably with flat rate and annual accouting as well

[@rannot]

I am not talking about full control, but is there any chance of my accounts getting misused?

[@rannot]

Thanks David for your help, it was nice to have some expert opinions. Your view points were extremely helpful. :)

[wizzard]

I am not talking about full control, but is there any chance of my accounts getting misused?

If they let that happen they won't remain in business very long.

[@rannot]

very true.....tx :)

[gavcooper]

I myself taking free trial of 'XERO'

Take a free trial with FreeAgent Central, as well as Xero. These were my top 2 when I looked at a new accounting solution. I went with FreeAgent as I like the UI and it seemed a bit more user friendly. As already stated in another post the companies are improving the software all the time. Just see which one works best for your business.

[bobedwards10]

As long as your software can cope with UK VAT and HMRC business record standards should be OK

Bob Edwards FCCA
Swan Partnership

[@rannot]

ok thanks, point take.

Do you have any idea regarding Fusion Financials?

[gavcooper]

Sorry never heard of Fusion Financials

[aamarotico]

One option that hasn't been mentioned that I was quite impressed with is e-conomic. Along with Xero that strikes me as being most suitable to scale up to larger systems - not that all of the others can't of course

Hi rannot!

Sorry to jump onto this thread late in the game, but I'd like to agree that E-conomic is an incredibly scalable online accounting solution and it sounds as though it would fit your needs to a T.

There are already numerous companies using E-conomic to outsource their accounting internationally. E-conomic is perfect in such cases as it is enables easy online collaboration between the company and accountant over the internet. E-conomic also has multilingual and multi-currency capabilities, which make international collaboration even easier.

You can find out how the telecommunications company Vopium outsourced their accounting tasks with E-conomic on our website: e-conomic.co.uk/news/press/23-02-2011-vopium-outsources-accounting-press-release

Please feel free to contact us if you have any questions or concerns, or if you would simply like to know more.

Good luck with your expansion and finding the right solution for your needs! :)

Best regards,

Alexandra Amarotico
E-conomic UK
Dukesbridge House
23 Duke Street
Reading
Berkshire RG1 4SA
United Kingdom
DDI: 08456 800 471
M: +44 (0)7545 427764
e-conomic.co.uk

[andyrp]

Thought I would try to revive this thread to see if anyone has any new suggestions.

I found ClearBooks and to be honest it has blown me away with how much more advanced it is than QuickBooks which I was using previously.

Here is a review:
http://business-beginnings.org/clearbooks-review-the-best-option-for-small-businesses/