Best Accounting App in UK for Small Business
Best Accounting App in UK for Small Business
Accounting software used to be complicated and time-consuming. It was more suited to giant corporations than too small firms. There is now a large selection of accounting software created specifically for small enterprises and the self-employed. Many of the items are low-cost (or even completely free).
This type of software is designed to make managing your business finances as simple as possible, assisting you with tasks such as bookkeeping, invoicing, purchase orders, inventory, and payroll. Reporting tools are frequently included with the solution you choose, so you can watch your cash flow and monitor your profit and loss, for example.
Why do small businesses need accounting software?
Accounting software, rather than spreadsheets or a paper-based system, will assist even the tiniest organization. It not only makes it easier to keep track of your company’s finances but also speeds up the preparation and submission of tax and VAT filings.
But, with so many options available, how can you pick the best one for your company?
Essentially, all of the top accounting app UK products are meant to assist you in managing your business’s spending and income, sending invoices, and generating financial reports. However, there are several things to keep an eye out for. Do you want a cloud accounting solution or a desktop accounting solution, for example?
It can be difficult to compare accounting software, let alone choose a package that meets your demands, due to the large number of programs and suppliers accessible. However, we’ve looked at some of the most well-known possibilities for your company.
The best accounting software for small businesses
Modern accounting software is usually cloud accounting software. Thus it should function on either a Mac or a PC. The majority of these programs are also mobile-friendly. Let us have a look at the best Accounting App for business and enjoy them:
- Freeagent
Because FreeAgent is aimed at freelancers and small enterprises, it concentrates on day-to-day administrative duties such as invoicing, time tracking, and expenditure management. It’s a cloud-based accounting program.
You can create invoice reminders and upload receipt images. For sole traders, pricing starts at £19 per month with a 50% discount for the first six months. You can also enjoy a 15% lifetime discount if you’re a Simply Business customer in this Accounting App in the UK for SMEs.
- Centiga
As the best online accounting software, Centiga CRM is simple to use and provides powerful sales, marketing, and support functions. It’s fully integrated with Centiga. We are constantly reviewing new features to ensure you get the most out of them. These costly CRM solutions are no longer required.
With a 30-day free trial, customers and providers may be simply handled. All of your clients, suppliers, and history are well-documented. You can set the default value for each client and provider to speed up invoicing and bill with just a few clicks. Create and personalize invoices with your company’s logo and color scheme. You have the option of selecting the information that appears on your invoice.
- Quickbooks
QuickBooks is a cloud-based accounting program developed by Intuit, one of the first accounting software vendors.
Small firms can utilize the basic Self Assessment package for things like VAT and payroll, while freelancers can sign up for the basic Self Assessment package to track their self-employed income. There are other reporting and monitoring tools available as well. The QuickBooks App Store allows you to connect your account with over 700 third-party programs, allowing you to save time on data entry, payroll processing, backups, and inventory monitoring. Subscriptions begin at £8 per month (for the Self Assessment package). However, discounts are often available for the first six months.
- Xero
Another major free accounting app for the small business provider is Xero. Invoicing, inventory, payroll, and expense claims are all things that Xero can help with.
It can also import your banking, credit card, and PayPal information, and there’s an iPhone and Android app for it. Prices begin at £10 a month but are occasionally discounted for the first few months. That package allows you to submit VAT to HMRC as part of the Making Tax Digital initiative.
- Zoho books
Zoho Books may be integrated with a variety of Zoho apps as well as third-party apps. It can assist you in creating invoices, categorizing spending, and keeping track of inventories. Zoho Books is part of a larger cloud-based software suite that also includes Zoho Invoice and Zoho Expense, albeit there is currently no payroll feature for the UK.
Zoho Books can also sync with your bank account to provide real-time cash flow updates. Monthly fees begin at £6. Making Tax Digital is compatible with Zoho Books.
- Freshbooks
The user-friendly interface and lack of jargon are two advantages of cloud-based FreshBooks. It’s geared toward freelancers and small enterprises with simple accounting needs, thus invoicing and spending tracking are key features. It works with apps such as PayPal and Zendesk.
FreshBooks’ ‘Lite’ package starts at £11 per month. FreshBooks claims that its packages include everything you’ll need to stay compliant with Making Tax Digital, so make sure they’re right for you. They also provide some business-related materials, such as this free invoice template.
- Sage
Sage is a large enterprise software company. However, Sage Business Cloud Accounting is its small business cloud accounting software. It can assist you with invoicing, cash flow, and payroll, among other things.
Sage Business Cloud Accounting app UK costs £12 per month, although this can be discounted for the first few months. Sage claims to be ready for the Making Tax Digital initiative.
- Clear books
Small firms can benefit from simplified accounting. In the UK Cloud Awards in 2014, it was named Best Cloud Accounting Software Suite.
For many, the fact that it is primarily focused on the United Kingdom is a huge bonus. It has a lovely layout and a good selection of features, and it is generally considered straightforward and simple to use. In terms of the user interface, it lags behind the main players; the user interface isn’t as current, and it lacks any external integrations.
However, it still has everything you need to handle your accounts correctly and is HMRC and MTD compliant. This is worth looking at if you don’t want to be distracted by any bells and whistles.
- Kashflow
Kashflow provides a simple dashboard with a score for business health. Billing is simple, and quotes may be converted to invoices in a matter of seconds.
There are no limits to how many invoices you can send, and you can add additional customers, suppliers, and transactions as needed. It’s great for filing VAT taxes, and it integrates securely with payment card processors like SagePay and Barclaycard. Unfortunately, it, like ClearBooks, does not provide any connectors with third-party applications.
A 14-day trial is available for free. There is an £8 per month introductory offer. For larger enterprises that want greater capability, prices start at £15 per month.
Conclusion
Because certain platforms may suit you better than others, the only way to know for sure is to take advantage of the available free trials. Choose two or three packages to test out and see which one is best for you.
You should also consult with your accountant before committing to any particular plan. They will be well-placed to offer recommendations on accounting software that best meets your demands because they are familiar with your company.
Centiga can assist you if you need an accountant in London to help you straighten things out. For additional information, please contact us or fill out the form below to obtain a quote.
