Alternative to Quickbooks

[North_Wind]

My accountant recommended (insisted?) I use QuickBooks when Making Tax Digital started applying to my company. I am not happy as everything takes 3 times as long as when I input everything into Excel as my nominal ledger (about 30-40 transactions per quarter). And I have to pay! Is Xero any better / quicker? Any other recommendations?

 

[Financial-Modeller]

Who works for who?

Why not ask your accountant to quote you for copying your data from your spreadsheet and pasting it into their preferred interface?

 

[UK Contractor Accountant]

Why don't you go back to using Excel in conjunction with VT Cash Book with the excel bringing software feature which allows you to file MTD Vat Return from Excel.

Cloud software (QB, Xero, Sage, Cashflow, Free agent etc) is but if an overkill if you just run a cash book and complete vat returns on a cash basis.

 

[MyAccountantOnline]

My accountant recommended (insisted?) I use QuickBooks when Making Tax Digital started applying to my company. I am not happy as everything takes 3 times as long as when I input everything into Excel as my nominal ledger (about 30-40 transactions per quarter). And I have to pay! Is Xero any better / quicker? Any other recommendations?

Xero is good but it depends on what you need.

You really do have a huge choice.

What sort of business do you run and are their any specific features you need?

 

[scstock]

Making use of Memorised Transactions and Keyboard shortcuts will speed up your transaction entry process. Like everything, you get better with practice!

 

[Spur Support Services]

I like Xero, but then I am an accountant.
However, I also like it due to my extensive business experience.
It is difficult to comment too specifically without discussing your business operations in more detail.
I also don't have Quickbooks experience, but the Xero functionality I like that would be relevant for many small businesses is:

• Xero links to all bank accounts, plus credit cards, plus Paypal, meaning that you don't need to type or download data from those sources (common with Quickbooks).
• Xero comes with free Hubdoc software which means you can upload your purchase invoices by simply taking a photo of them on your mobile, which reads the details, leaving you to allocate the costs to the relevant account (Hubdoc suppliers can be configured to post to certain accounts by default).
• Xero allows you to raise and email quotes to potential customers, which they can approve electronically.
• Xero Quotes can then be transferred to sales invoices with one button press (and to purchase orders if this is helpful).
• If you have regular invoices for weekly/monthly fees, you can set up repeating invoices, which will be automatically emailed to your customers without lifting a finger.
• You can offer your customers payment options to accelerate cash collection, such as Direct Debit, Credit Card and Paypal, by linking those apps and adding the options to your invoice templates (also can be done in Quickbooks, I believe).
• VAT MTD compliance is easy and integrated
• Upload functionality, for invoices, bills and manual journals, if you really find it easier to prepare records offline and then upload in bulk.

For me using Excel is definitely a backward step.
The aim with accounting systems is to reduce the amount of manual entry as much as possible, as every "hand" written entry or unprotected formula is open to human error.

That's not to say that you can't make a hash of preparing your books in Quickbooks or Xero, but a good accountant would find the errors easier to spot and resolve.
Using cloud accounting gives your accountant visibility to your books and records which allows you to ask them questions during the year and expect an informed answer in return.

 

[Paul Kelly ICHYB]

1 - don't enter anything onto a spreadsheet - put it straight into QB
2 - whilst data processes will differ on other platforms, they will all have the same basics - changing to another platform will only cause you more pain!
3 - the main reason you should be using this (or any) platform is to save time and money. If you are doing the data entry, you are saving your accountants time, therefore, your costs.

 

[Energise Accounting]

Software is not a one size fits all. For e.g i would not even think of using xero for our clients who use factoring services. Although for our retail clients it is ideal.

I have not been on the forum for a while. I will have to update my logo's etc since our practice no longer just supports the pub trade.