There are several options when it comes to selecting cloud accounting software – but which one do you choose? The simple fact is that it’s all down to individual taste and which one you think suits your needs best!
The bottom line as far as our team at KEW is concerned is that we are happy to work with any of them but it is our client who makes the decision based on working practice and operational requirements.
What is cloud accounting?
Many people may be unfamiliar with cloud accounting and what it means but essentially it’s about using an accounting system stored via the internet and has the advantage of being able to access remotely at any time or location – all you need is a tablet, laptop, PC or mobile phone with an internet connection.
All online accounting software will connect to your bank and they all have the option to scan in invoices and receipts, which can be an advantage for some people although others do find that it can create more hassle and choose not to do it.
The real benefit of cloud accounting is being able to quickly see and act upon your financial circumstances, ensure those outstanding bills have been paid, and keep a general track of your account from anywhere 24 hours a day, which provides a reassurance of always being in control and on top of your finances.
Who to consider and why
Moving to cloud accounting is the way many people are going in our ever-increasing technological world, while others are still opting for a more traditional approach. If it’s something you are considering, here are our thoughts which we hope may help. Cloud accounting providers include:
- Sage One – More of our clients use this than any other provider, the main reason being that Sage One is prepared to give bigger discounts to accountants for the Sage One programs and so we are able to pass those discounts on to our clients. Also, Sage One is really well established and we have been using it for many years, meaning we know the program really well.
- Xero – The best product if you want to link to other online accounts, like Stripe and PayPal, for example. However, be aware that compared to Sage One, it is fairly expensive and there are extra charges for the addons.
- QuickBooks – Very user-friendly and the starter package is inexpensive, however if you take payments on account or are likely to make or receive refunds, we do not recommend that you use QuickBooks.
- KashFlow – We currently do not have any clients using this provider but reviews online seem to like the simplicity of it, however customer help response reviews do appear to raise a few issues.
- FreeAgent – Has improved massively since it was first developed and you can now get it free with a NatWest business account – so even better!