Popular Small Business Accounting Softwares- UK

If you’re a small business, and have not already, accounting software can make your life much easier, it’s much simpler to manage your books and accounts through the accounting software.  In the past, accounting software was complicated and hard to learn and generally meant for large businesses than small businesses. Today, there are a wide range of accounting software designed specifically for small businesses helping them with bookkeeping, invoicing, inventory and payroll.

Since there are so many options available, we’ve researched and written a quick guide to help you choose the right software for your business. This write-up aims to be a comprehensive guide in choosing the right accounting software for your business. It also provides a comprehensive review of five of the best cloud based accounting software’s for small to mid-size business.

QuickBooks (UK Version)

QuickBooks is developed by Intuit and is considered one of the very best accounting application for small businesses, thanks to its depth, flexibility and ease of use.

Pros

  • Attractive user interface and excellent navigational system
  • Flexible with 3rd party applications
  • A strong chart of accounts and customizable report templates
  • Comprehensive payroll support

Cons

  • Lack of key reports outside of accounting

Price
£10.50- £25.00/month

Xero

Xero is built on a true double-entry accounting framework, and lets you track and manage sales, purchases, inventory, and payroll. Xero accounting software provides an expert invoicing tools which allows users to create invoices with templates, or customize their own. Xero allows you to manage fixed assets, something most other software do not.

Pros

  • Choose from a wide range of powerful add-ons
  • Business performance dashboard to view your bank balances, sales, and bills
  • Thorough records and transaction forms
  • Fixed Assets module

Cons

  • Most of the reports are not updated to latest formats
  • Time billing is not allowed

Price
£22- £27.50/month

Zoho Books

Zoho Books though not as recognized as QuickBooks or Xero, but is higher up to both of them in terms of capabilities and customization. It is very simple, easy-to-use, and can help you make intelligent, data-based decisions.

Pros

  • Excellent user interface and navigation
  • Excellent record templates and transaction forms
  • Time tracking

Cons

  • No integrated payroll application

Price
£12-£18/month

AccountEdge Pro

AccountEdge Pro (previously MYOB) is a desktop accounting and management solution for small businesses. It has a simple interface which provided flexible tools to manage your company’s books. However, the system only allows you to do a limited amount of work online.

Pros

  • Exceptional depth and customizability
  • In-depth record and transaction templates
  • Sophisticated time billing

Cons

  • Not entirely cloud-based

Price
£299

Sage 50c

Sage 50c is a capable, well-rounded small business desktop accounting solution. It is a revamped version of Sage 50 which integrates Office 365 and uses OneDrive storage to provide the connectivity and data-sharing features.

Pros

  • Easy to use import/export features
  • Backup to OneDrive cloud
  • Generous data capacity
  • Sophisticated reporting

Cons

  • No new online bill-pay accounts
  • Limited remote access
  • No revenue recognition management

Price
£20-£125/month

Feature Comparison- QuickBooks VS Xero VS Zoho Books VS AccountEdge Pro VS Sage 50c

QuickBooks

Xero

Zoho

AccountingEdge

Sage 50c

Double Entry

All Major A/R and A/P Transaction Forms

Mobile Access

Time Tracking

Payroll

Customer/Vendor Portals

Inventory Tracking

Training Available

 
Live Support

 
Document Management

 
Estimates Quarterly Taxes

 
Integrates with CRM

 
Currency

 
 

Source: uk.pcmag