Can you recommend some Accounting software?

[David White]

Can anyone give some opinions on the best accounting software for a start-up? I have never tested any and don't really know what to look for anyway so any help is a good help, cheers.

 

[MyAccountantOnline]

Can anyone give some opinions on the best accounting software for a start-up? I have never tested any and don't really know what to look for anyway so any help is a good help, cheers.

What do you want to be able to do with the software ie invoice customers, keep track of amounts owing and owed, account for VAT etc or simply record money in and out for your accountant?

 

[Maslins]

Also, what will your business be doing?

 

[David White]

I am quite a data freak so I like to know as much as possible so auto-invoicing sounds good and tracking of outstanding amounts but I will be taking online payments so chasing money wont be much of an issue (hope I don't live to regret saying that).

I will be selling ad space for businesses so acting as a broker/advertising agency so the products will be non-physical.

 

[MyAccountantOnline]

Should have added budget - do you want some free software or would you pay a monthly/annual fee?

 

[Jenni384]

I am quite a data freak so I like to know as much as possible so auto-invoicing sounds good and tracking of outstanding amounts but I will be taking online payments so chasing money wont be much of an issue (hope I don't live to regret saying that).

I will be selling ad space for businesses so acting as a broker/advertising agency so the products will be non-physical.

Something like Solar Accounts (see the link in my sig) might be up your street.
It's simple to use, does auto-invoicing and allows you to keep track of what's outstanding, as well as giving you profit and loss reports etc.

Your other alternative might be a SaaS solution like KashFlow.

There's also free offerings like MS Accounting.

All of the above offer free trials.

 

[David White]

Being a start-up I of course don't want to pay huge amounts for a software but I would sooner pay for a decent one rather than take a free one which is maybe not good enough and needs replacing in 2-3 months. Time is money right

 

Why don't you have a look at the free trials and see which one is best for you. The details for KashFlow are here http://www.kashflow.co.uk/

Kind regards

Zöe

 

[David White]

Appreciate the help, thanks.

 

[MyAccountantOnline]

Being a start-up I of course don't want to pay huge amounts for a software but I would sooner pay for a decent one rather than take a free one which is maybe not good enough and needs replacing in 2-3 months. Time is money right

In that case I'd second Jenni's recommendations.

Kashflow gets many glowing reports if you are happy to pay monthly, and Solar is very realistically priced and does the job well.

 

[David White]

Thanks again, I also came across Quickbooks. Any good/bad reviews about them?

 

[MyAccountantOnline]

Thanks again, I also came across Quickbooks. Any good/bad reviews about them?

I used to use it a lot but following some problems with updates its not one I use anymore and have less and less clients using it. Comparing to say Solar, which does the same job, I think its very expensive.

 

[David White]

Is that Solar as in this site: http://www.solaraccounts.co.uk/?

 

[AerialSolutions]

Hi There

I swear by VT Transaction+. This was recomended to me by another business. There is an online step by step tutorial and so far I havent paid a thing. I have received a message from them recently and will be paying £110 in October. Bargain! Ive used this for over a year now and find it invaluable. My accountant loves it too and recommends it to all his clients.

 

[MyAccountantOnline]

Is that Solar as in this site: http://www.solaraccounts.co.uk/?

Yes indeed - use Jennis link and save 10%

 

[MyAccountantOnline]

Hi There

I swear by VT Transaction+. This was recomended to me by another business. There is an online step by step tutorial and so far I havent paid a thing. I have received a message from them recently and will be paying £110 in October. Bargain! Ive used this for over a year now and find it invaluable. My accountant loves it too and recommends it to all his clients.

So do I I think its fantastic and am always recommending it - but it cant (I believe) do the auto invoicing which was one of the requirements asked for.

 

[Peter Bowen]

I'll add my recommendation for KashFlow. We've integrated it with our CRM (customer relationship management package - SugarCRM), payment gateway (SagePay) and chasing system (Getting-Paid) and it saves a huge amount of time and money on the admin stuff.

Cheers

Pete

 

[David White]

Excellent, I would also be interested in what option you would all recommend for accepting payments online.

So far I have briefly looked at PayPal and 2checkout.com but there are so many around it is hard to choose. So far the average fee for taking payments online is 2-3%, is this about normal?

 

[FusionAccounts]

Hi David,

Before you decide on a package why not take a look at Fusion Accounts. We offer a 60 day free trial. Our software also supports multi-currency. We have recently uploaded a user guide to our website which will provide you with step by step instructions on how to use our software.

If you have any questions feel free to contact us.

 

[Maslins]

Just to confuse things further, I've gotta chuck in a recommendation for FreeAgent.

Specifically because it can:

Do all your invoices for you.
Link with your online banking/Paypal to make your life easier.
Gives you a good idea of what/when/how much taxes are due.

It isn't free, £15/month for sole trader or £25/month for Ltd Co, but if you like what you see, give me a shout and I should be able to get you a 40% discount.

 

[jrjsykes]

Thanks again, I also came across Quickbooks. Any good/bad reviews about them?

As an accountant I much prefer any Sage product over Quickbooks, but having said that I sell them both.

What has you accountant recommended? If you use their recommended software and with the right training and help you should be able to ask for a discount. If they don't then ask me and I'll give you one!

Twitter me jasonsykes

 

[Jenni384]

As an accountant I much prefer any Sage product over Quickbooks, but having said that I sell them both.

What has you accountant recommended? If you use their recommended software and with the right training and help you should be able to ask for a discount. If they don't then ask me and I'll give you one!

To work with, I like both Sage and QB.
I'd never recommend Sage to a non-accountant or -bookkeeper (though love working on it myself - as a bookkeper. Hate receiving it as an accountant!).
QB I've gone off since 2007 hence recommending Solar et al.

Agreed, it's worth asking your accountant their opinon.

As long as the data is entered correctly, any decent package (the ones mentioned in this thread) will throw out the correct reports for an accountant so choose the one that you are happiest with - if you can use the software, you are more likely to get it right, and that's win all round

 

Well, I may as well:

If it is KashFlow you wish to go for, let me know and I can arrange a discount for you.

Kind regards

Zöe

 

[neverenoughnotes]

just wanted to butt-in and ask for a recommendation for a free software?

btw thanks to David for starting this post

 

[oldeagleeye]

Jenni.

I tried solar but it didn't seem to deal with auto or recurring payments in like standing orders. Has there been a recent upgrade.

Robert

 

[dp0848]

Jenni.

I tried solar but it didn't seem to deal with auto or recurring payments in like standing orders. Has there been a recent upgrade.

Robert

No I don't think such a function exists in Solar at the moment. Hopefully it is something Mark will add in the near future as it would make life a lot easier.

 

[MyAccountantOnline]

just wanted to butt-in and ask for a recommendation for a free software?

btw thanks to David for starting this post

VT Cashbook if you just want to record payments and receipts. VT Transaction + (free until 31/10 I think) if you want it to issue and keep track of invoices and control creditors.

 

[TheAlbear]

I have tried quickbooks and found it to be a real pain very overly complex, quite similer to sage with a trade debtors model to raise and record a sales invoice.

I now use speed e books its excel based an allows for very easy data entry and it makes it really easy to see your VAT liability instantly.