We have the right software to suit your needs and requirements
There are many business owner’s who do not fully understand the financials within their organisation. Knowing where your business is going is vitally important to creating a successful venture. To determine the success of your business’s growth utilising quality cash flow software is a huge asset to – producing regular records of your income and expenditure.
SAGE is probably the most popular accounting package and is recommended by many accountants. Sage has an excellent nominal code structure as well as an easy audit trail so that you can track the history of a user very easily. The downside of Sage is that once you have created a journal it’s difficult to undo if you should make an error. The upside of that is that you can see what you have done and simply journal it out again. Sage has set the standard for many accounting packages in the UK. It is a great support system, but is not cheap but you have help at the other end of the telephone line if you need it.
Sage is mostly used as a stand alone product and unless there is a network with multiple user facilities, this can be an expensive option as they usually release a new version every year which means you have to upgrade. Again this depends on the size of your business and how many people you want to have access to the accounts.
QUICKBOOKS was brought by Intuit and has gone from strength to strength. It is an interesting programme and easy to learn. In the early days, you could buy one copy and run as many companies as you liked. However, it is not like this anymore where you are required to have one license per one company! It has very “user friendly” applications. One can create ones own custom invoices easily. We have a client who has an on-line shop that integrates with QuickBooks in an international market, using different currencies, and the invoices look very professional.
QuickBooks can be dressed up or dressed down depending on how complex your business is. It has a good drill down function when a report is created and more information is required to be seen without having to open another report.
KASHFLOW is a great online “clouding” programme and I suspect the designers who wrote the programme had Sage Accounts in mind as many of the nominal codes and reports are similar. It is very easy to use. KashFlow has the same level of security as internet banking, so your data is very secure and you can access your information on any computer anywhere in the world. KashFlow have a very good rate of answering my queries quickly via email and the service is free. They are a friendly team and I would recommend their package. You can have an invoice in a different currency should you require this but the bank accounts at this stage are only provided for Sterling.
KashFlow does not have a yearly contract and it can be cancelled at anytime. KashFlow will also send out a backup if needed which is an excellent service. I do not have to be concerned about backing up all the reports as this is done automatically.
XERO is also an excellent clouding programme. It is very versatile and once you get the hang of it, it is easy to use. I have one client who has many staff to pay on payroll and the transactions are downloaded onto the bank statement automatically which makes reconciliation so much easier as well as saving the client a lot of extra time as these transactions are reconciled automatically.
One of the interesting features about Xero is that an invoice can be added in draft and will not affect any of the reports, it is almost as though it is a little programme on it’s own. Only when the invoice is approved does it go into the mainstream of the package.
Xero invoices and bank accounts can be in any currency and this is a good feature for clients who have customers in the USA or in Europe.
Each of these accounting packages have their merits. We would need to have a look at your business to see which package would suit your business needs.