What is the best bookkeeping software?
What is the best bookkeeping software?
This article is the second in a series of short posts that we will release every Thursday. The purpose of these posts is to give you a quick and simple answer to a recent question that we have been asked.
Each week we will answer one question in a post that you can read in less than 5 minutes.
We aim to provide a space where people can find answers to many of the questions that hold them back, where people can learn and progress.
This week we will answer the question “What is the best bookkeeping software?”
There is a growing trend for small business owners to manage their own bookkeeping and let an accountant process the final accounts and corporation tax.
Whilst this can help reduce costs, it is vital that you know what you are doing. The records can quickly get very messy if the bookkeeping is done incorrectly, regardless of the software in use.
Below we have listed three softwares and our personal opinions on them.
XERO
Our personal favourite
XERO is our personal favourite for its clean, simple, and easy to use functionality and user interface. It does everything that a small business needs quickly and efficiently. XERO is also fully cloud based which means that you can manage all your bookkeeping on any device.
Positives
Negatives
- Cloud based
- Easy to use
- Great online training
- Mobile app
- Automated bank feeds
- No telephone customer support
- Pricing
- Limited reporting
Quickbooks
Our second place
Quickbooks online is another great option for small business owners. It has fantastic customer support, is fully cloud based and has the added benefit of being more scalable in our opinion.
Positives
Negatives
- Cloud based
- Integration with third party apps
- Great online training
- Great customer support
- Automated bank feeds
- Layout and navigation not to our liking
- Too many price plans
- Plan upgrade needed for more users
- Syncing issues with bank feeds
Sage
Another great option
Sage business accounting is another great option for small business owners. The reviews here are a lot more mixed and we understand why. Sage business accounting has some great features and is a brand that many will recognise. In some respects, it has more features then the other two listed here. However, the software can feel a little clunky and slow.
Positives
Negatives
- Cloud based
- Telephone support
- Free CIS returns
- Pricing
- Automated bank feeds
- Interface can feel slow & clunky
- Can look dated
- Probably a steeper learning curve
What is the best bookkeeping software - Final verdict
It is very difficult to say which software is the best. Each software has its own positives & negatives.
Any of the above are perfectly suitable for a small business starting out.
XERO is our first choice because it is so simple to set up and get going. The learning curve is much smaller than other softwares. Furthermore, it has great functionality and time savings features.
If XERO doesn’t work for you, either of the other two options will also be a good fit. We should say that there are other options out there too. The above are just the options that we have liked and are used by many businesses.
We hope that you have found this post useful in helping you decide which bookkeeping software you should choose. If you have any questions or would like help with your bookkeeping, please do get in touch. Our team will be happy to help!