Best accountancy software these days ?

[Talay]

I outsourced my payrolls, accountancy function, tax advice, etc. but kept my VAT returns in house, largely as they are so easy and my accountants wanted what I thought were excessive amounts for what is literally minutes of work.

However, with the need to file VAT electronically from next month and my being somewhat disenchanted with my payroll provision, I am considering bringing some or all of this back in house and simply using accountants for year end accounts etc.

I previously trialled Xero and Kashflow and found them clunky with Kashflow actually sending the wrong XML down to to HMRC via RTI once.

I like the idea of downloading all the bank accounts but currently, I don't bother with any receipts or invoices which are all stored digitally but manually entered into an ever expanding Excel file. Robust though it is, we are probably past the point where it makes sense to do it this way.

Our tax year end for most companies is 31/03/19 so we have some time but I would like to evaluate now.

It would make sense if the software directly or via linkage could also produce payroll and hold staff holiday details. Not a deal breaker but a nice to have.

 

[sherbetdipdab]

Following. We are moving from sage to Xero.

 

[ecommerce84]

Also following. I’m looking to transition from spreadsheet to something more capable as my business is expanding.

Xero is currently leading it for me. Although I’d be particularly interested in software that isn’t Sage and doesn’t require a monthly subscription.

 

[MyAccountantOnline]

@Talay you've got a huge amount of choice.

Have you spoken to your accountants to see if they can recommend something suitable? They may also be able to pass on discounts they get.

I personally use Accounts Portal and that's the one I recommend to nearly all of my firms clients. We get a discount on it which we pass to our clients too.

It's difficult to recommend something which is ideally suited to you without knowing your exact requirements and what business you run but I'd certainly take a look at Accounts Portal, the bank import works well.

For payroll we use Moneysoft for clients payrolls and I highly recommend it to anyone wanting to run a payroll themselves.

 

[@aiteoconsulting]

It is getting increasingly difficult to find software at the small business end that isn't subscription based. Quickbooks Online (which is subscription-based) is worth a look - personally my favourite of that level, with (in my opinion) better reporting than Xero. QBO does offer payroll though not to my knowledge staff holidays. Also look at something like AutoEntry for invoice scanning.

 

[Glenn Martin]

I would revisit Xero if i were you I have tested them all and find Xero is the best. Kashflow is not very good at all and would stay clear of.

Quickbooks is maybe worth a look at if you are comparing what works best for you.

 

[Higgsy]

I am a fan of Xero. Find it simple to use and my accountant is competent with it too. I recommend finding out which one your accountant prefers, this saves hassle should you make mistakes/need help.

However, I rarely need assistance with Xero as it is so easy to use.

 

[Haindiary]

Xero Accounting Software is sold as the ultimate alternative to QuickBooks, It is a tool that gives you an idea of your cash flow in real time, as well as various other modules and tools so that you can control your finances.

 

[Ahead Solutions]

I am happy to use Sage and a monthly fee is not putting me off, what is scaring me is will Sage be able to allow me to file directly with HMRC. I have not purchased Sage yet as I will be running the accounts instead of an accountant.

 

[johndon68]

Assuming you are talking about Sage 50, there is an MTD submission module for Sage but it will cost you extra.

If you will be using Sage Business Cloud then the MTD module is built in.

John

 

[Ahead Solutions]

Hi John
Yes I was referring to Sage 50, we only a small business with my husband and myself. Husband generates the invoices and I am the accountant/secretary
Zeenit

 

[Talay]

Following. We are moving from sage to Xero.

Why ?

 

[Talay]

It is getting increasingly difficult to find software at the small business end that isn't subscription based. Quickbooks Online (which is subscription-based) is worth a look - personally my favourite of that level, with (in my opinion) better reporting than Xero. QBO does offer payroll though not to my knowledge staff holidays. Also look at something like AutoEntry for invoice scanning.

I am not fussed about subscription and everything costs so that isn't an issue within reason. I just want something intuitive and which works.

When I had Kashflow, the biggest issue was the lack of support. No phone at all, only snail's pace email and then to someone who knew less than I did half the time.

Cheap to buy but expensive in terms of my time to run.

 

[Talay]

@Talay you've got a huge amount of choice.

Have you spoken to your accountants to see if they can recommend something suitable? They may also be able to pass on discounts they get.

I personally use Accounts Portal and that's the one I recommend to nearly all of my firms clients. We get a discount on it which we pass to our clients too.

It's difficult to recommend something which is ideally suited to you without knowing your exact requirements and what business you run but I'd certainly take a look at Accounts Portal, the bank import works well.

For payroll we use Moneysoft for clients payrolls and I highly recommend it to anyone wanting to run a payroll themselves.

I could speak to my accountants but as I am considering removing both payroll and then all other accountancy services from them, that might not be the wisest move.

You then talk about a different system for accounts and payroll. Why not an integrated solution ? Why two programs ? why 2 of anything when one should be enough ?

Of course, if one doesn't exist, then you have no option.

 

[Talay]

It is getting increasingly difficult to find software at the small business end that isn't subscription based. Quickbooks Online (which is subscription-based) is worth a look - personally my favourite of that level, with (in my opinion) better reporting than Xero. QBO does offer payroll though not to my knowledge staff holidays. Also look at something like AutoEntry for invoice scanning.

Why do people want or need to have invoice scanning ? Don't all your invoices come electronically ?

 

[UK Contractor Accountant]

When I had Kashflow, the biggest issue was the lack of support.

Kashflow was bought out by IRIS recently so support levels would have improved under the IRIS brand.

IRIS is widely used by Accountancy Practices in the UK

 

[@aiteoconsulting]

@Talay , even if invoices typically come in pdf format by email they need to be read to be turned into data that accounting platforms will accept.

 

[Deleted member 315707]

Why do people want or need to have invoice scanning ? Don't all your invoices come electronically ?

Mostly they do and for ones that don't I have no bother as I'd snap a photo with my mobile. The benefit of AutoEntry, Receipt Bank or any other myriad of tools is I can forward the PDF directly to my AutoEntry email address and about 30 seconds later it's in Xero, coded against the right nominals with the correct VAT ready to reconcile. No human could ever do it as quickly, accurately or efficiently. Bookkeeping done, next task!

 

[Deleted member 315707]

Why ?

Because they likely see the benefits to managing their business in the cloud. Sage is like a cassette tape in comparison...

 

[Deleted member 315707]

Accounts Portal

I'd be really concerned about recommending a company like Accounts Portal... no offence intended but a £27k balance sheet seems like someone in their bedroom rather than a credible alternative to QBO or Xero. QuickBooks starts from less than a tenner...

 

[Energise Accounting]

We use Xero for all our pub clients. The rest who don't need all the bells and whistles we use Reckon One.

 

[ffox]

When are people going to get real. There is no BEST.
It all depends on what your business IS and what your business DOES.

Software evaluation starts with a business needs analysis. It then moves to a market place analysis.

Once you know what you need, you can evaluate that against what is available in the market place.

Accounting software is just database storage with special algorithms. It causes you to categorise data and then processes that data against a set of rules. It's not magic.

A business that needs bulk invoicing does not have the same needs as a business that produces 5 invoice per month. A business that processes sales in multiple currencies does not have the same needs as a domestic sales company.

No accountancy software package fits all needs. Analyse what you need and want, Starting from the right place will lead you through an easier route to the place you need to be.

 

[johndon68]

When are people going to get real. There is no BEST.
It all depends on what your business IS and what your business DOES.

I've said the same a couple of times in the past but, rarely, in these sort of threads, are the details given by the OP sufficient to give a specific recommendation...

 

[Deleted member 315707]

When are people going to get real. There is no BEST.
It all depends on what your business IS and what your business DOES.

Obviously in the same way as "What's the best colour" everyone will have an opinion and suggestion. With the information to hand from the OP, being able to make a couple of suggestions of the most common accountancy platforms with a few snippets of wisdom or experience makes complete sense.

To complete a needs based assessment in a forum environment would be difficult and time consuming. In the same way when I go into a craft beer pub, the bar person may make a suggestion based on experience.

It will also clearly not be to everyones tastes, but likewise I wouldn't expect to have to complete a tastes based feedback card, must have and nice to have requirements in my drink, pint sandbox environment to taste test before committing.. I just want a pint which might be nice which they know is popular.

 

[ffox]

To complete a needs based assessment in a forum environment would be difficult and time consuming.

Hi Johnny. I'm not suggesting that the responses are at fault. I'm suggesting that the question should never have been posed, at least not in the way it was posed.

The only way a businessman is able to assess the relevance of software, or any other asset, to his business is to assess the business need. And then, test the offerings in the market place. If the businessman does not feel competent to assess the need, or the relevance of products, relating to the business in question (not unusual, given that no-one can be an expert in everything) an expert should be consulted.

A broad question of - "Hey guys, what's the best" is never going to return a quality response.

 

[Energise Accounting]

@ffox is correct you use a software that suits your business. Like i posted earlier we use Xero and Reckon One that pretty much has every base covered.

You would have to give someone your exact requirements in order for a decent recommendation.

 

[Glenn Martin]

That is why I recommend Xero as the 5 versions of the software can basically cover everyone from basic ledger addition right up to the premium mutli currency version

Most of the others only have 2 offerings so you end paying for features you don't need or they are too basic. But as pointed out unless the OP gives more details of what he will be doing and what he wants from the software it difficult to give a more definitive response.

 

[Talay]

....But as pointed out unless the OP gives more details of what he will be doing and what he wants from the software it difficult to give a more definitive response.

OK, I thought I'd given enough but seemingly not. I'll elaborate.

Though we'll trial with one, (ideally) we will need it to cover up to 10 companies, some with multiple bank accounts.

Download and reconcile bank accounts.

Cope with upcoming MTD VAT returns.

Do some heavy lifting for year end accounting.

Track suppliers and invoices and give data on spend etc. Currently done in Excel, pivots, VBA etc.

Possibly handle payroll, holidays, etc. If not a core function, available as an add on ? Paying a per person payroll fee is a pet hate of mine

 

[MyAccountantOnline]

I'd be really concerned about recommending a company like Accounts Portal... no offence intended but a £27k balance sheet seems like someone in their bedroom rather than a credible alternative to QBO or Xero. QuickBooks starts from less than a tenner...

In my opinion it's very much a credible alternative and I really wouldn't recommend it here or to my firms clients if I had any concerns. I've used it myself for a long time. It's a good system.

 

[Energise Accounting]

Accounts Portal is good software the reason i don't use it is because you cannot use add-on's like Auto Entry, which is a shame as it is reasonably priced.

 

[Deleted member 315707]

In my opinion it's very much a credible alternative and I really wouldn't recommend it here or to my firms clients if I had any concerns. I've used it myself for a long time. It's a good system.

Each to there own opinion but the facts speak for themselves, Accounts Portal is not in the same league as even Sage Business Cloud Start let alone real products like QBO or Xero.

 

[Deleted member 315707]

reasonably priced.

Xero and QBO both have cheaper products? With a heritage...

 

[Flankaaa]

I think that the best way to proceed is to discuss this topic with your accountants. I am sure that they will give you the best advice for a solution that also doesn’t cost much, as there are such programs

 

[Glenn Martin]

If you need software for 10 companies on a subscription basis which most are now that is not going to be cheap. Xero has a facility to work company to company which saves duplication

I am sure if you approach your accountant or Xero that you need a licence for 10 companies I am sure there is a deal to be done on the cost of it all.

 

[Talay]

If you need software for 10 companies on a subscription basis which most are now that is not going to be cheap. Xero has a facility to work company to company which saves duplication

I am sure if you approach your accountant or Xero that you need a licence for 10 companies I am sure there is a deal to be done on the cost of it all.

Accountant recommends Sage desktop or Xero cloud but doesn't have affiliation with Xero.

Talking to Xero some halfwit couldn't get past the concept of 10 x £xx = too bloody much and a £5 a month discount wasn't in the ballpark.

 

[Deleted member 315707]

If price is your number one criteria, you can't see past that and your accountant recommends Sage still, then Sage desktop sounds like your match.

Xero staff are not halfwits. Could it perhaps be that they value their product more than Sage and maybe, with the greatest respect, you're the halfwit for not seeing that?

 

[FD Capital]

A great benefit of Sage is that almost every accountant and accounts staff member is at least somewhat familiar with it. So as you grow and get to the point of recruiting your own staff you will find if very easy to recruit people who already know how to use it (and probably better than you do!)

 

[The Byre]

Health warning - these are just my opinions!

Best for micro-business one-man-bands, dead-simple but no payroll - Simply Books (but you will have to add a MTD bridge).

Best free package cloud for SMEs - QuickFile and Bokio.

Best adult package on subscription with everything a real company needs - Xero (but only the full version for £24 p.m.)

Best adult free package that does absolutely everything (a real double-entry accounting package with payroll, multiple currencies, banking interface, P&L, charts, etc.) but you have to configure it yourself and actually use your brain - GnuCash (but you will have to add a MTD bridge).

 

[Deleted member 315707]

A great benefit of Sage is that almost every accountant and accounts staff member is at least somewhat familiar with it. So as you grow and get to the point of recruiting your own staff you will find if very easy to recruit people who already know how to use it (and probably better than you do!)

Most accountants I meet now actively try to move clients away from Sage to either Xero and QBO. The last two business shows I have attended have only mentioned Sage in terms of how easy would it be to migrate away from them...

 

[The Byre]

Life is just too short to try to struggle with all the problems Sage creates!