Best Small Business Accounting Software - More Than Accountants

What are the top small business accounting software packages?

Created On
Last Updated On
byLou

The best small business UK accounting software greatly simplifies managing your business. Creating an invoice only requires a few clicks, reporting tools give you a variety of insights into the financial health of your company, and inventory management ensures that you never run out of your best-selling items. Every transaction is automatically recorded so you can stop searching for paper copies. All of this eases the burden of that tax return.

However, there are many choices available, and figuring out which is best for your small business could take hours. In response, we are here. In order to choose the best accounting software in the UK, we conducted the testing and research that you lack the time to perform.

FreeAgent

FreeAgent concentrates on daily administrative activities like invoicing, time tracking, and expense management because it is designed for freelancers and small businesses. It is a set of cloud-based accounting software.

Want to switch to More Than Accountants? You can get an instant quote online by using the form below. In a like for like comparison for services we are up to 70% cheaper than a high street accountant.

You can upload images of your receipts and schedule invoice reminders.

FreeAgent claims that its users can comply with Making Tax Digital, and since 2010, it has been helping clients submit digital VAT reports to HMRC.

Pricing:

  • £19-£29 per month, or £190-£290 per year for annual subscriptions
  • Free for NatWest, RBS and Ulster Bank business account customers

QuickBooks

One of the very first developers of accounting software, Intuit, created QuickBooks, which is cloud-based.

In order to track your self-employed income, freelancers can sign up for the free Self Assessment package. Small businesses can utilise it for things like payroll and VAT. There are also several tools for reporting and monitoring. Through the QuickBooks App Store, you can integrate your account with more than 700 third-party software, which will help you save time on tasks like data entry, payroll processing, backup collection, and inventory management.

Pricing:

  • Self-Employed Plan — £8 per month
  • Simple Start Plan — £12 per month
  • Essentials Plan — £22 per month
  • Plus Plan — $32 per month
  • Advanced Plan – £70 per month

Xero

Another significant player in cloud accounting software is Xero. Invoicing, inventory, payroll, and expense claims can all be aided by Xero.

Additionally, there is an app that is compatible with both iPhone and Android that allows you to import your banking, credit card, and PayPal data. Prices begin at £14 per month, though they are occasionally discounted for the first few months. You can submit VAT to HMRC for Making Tax Digital using that software.

Pricing:

  • Starter — £14 per month
  • Standard — £28 per month
  • Premium — £36 per month

Zoho

Numerous apps from Zoho’s own suite and other apps from other developers can be integrated with Zoho Books. You can use it to create invoices, organise spending, and keep track of goods. The cloud-based software suite that Zoho Books is a part of also includes Zoho Invoice and Zoho Expense, though the UK still lacks a payroll feature.

For real-time data on cash flow, Zoho Books can also establish a connection with your bank account. 

Pricing:

  • Free — 1 user and 1 accountant
  • Standard — £12 per month — (3 users)
  • Professional — £24 per month — (5 users)
  • Premium — £30 per month — (10 users)
  • Elite — £99 per month (cashflow forecasting)
  • Ultimate — £199 per month (15 users)

FreshBooks

FreshBooks on the cloud has advantages such as a user-friendly interface and a lack of jargon. It concentrates on things like invoicing and expense monitoring because it is made for independent contractors and small businesses with minimum accounting requirements. It is integrated with applications like Zendesk and PayPal.

Pricing:

  • Lite — £5.5 per month
  • Plus — £9.5 per month
  • Premium — £15 per month

Sage

Sage is a well-known enterprise software provider, but Sage Business Cloud Accounting is its small business cloud accounting software alternative. It can assist you with everything you could anticipate, including payroll, cashflow, and invoicing.

Starting at £12 per month, the cost of Sage Business Cloud Accounting is occasionally waived for the first several months. According to Sage, Making Tax Digital is now possible.

Pricing:

  • Accounting Start — £12 per month (1 user)
  • Accounting Standard — £26 per month (multiple users)
  • Accounting Plus — £33 per month (unlimited users)

What Are the Advantages of Accounting Software in the UK?

Accounting software saves time and money by automating many bookkeeping and financial reporting chores.

Accounting software helps businesses:

  • Monitor their finances.
  • Strategise pricing and product development.
  • Follow financial laws.

Overall, accounting software is very helpful because it saves you time and money and makes it easier to keep track of your finances.

Conclusion

Accounting software is a clever, scalable business option, especially if you have no financial accounting background.

The best accounting software simplifies handling profits, losses, taxes, and invoicing.

Our top-rated accounting software list should help UK small business owners and freelancers find the right one.

Table of Contents