Accounting software help?

I am considering whether it is worth it to invest in accounting software or not?

Has anyone had any experience in accounting software? What were the pros and cons?

I have been considering accounting software, because DIY accounting can be a stressful task, what do people think?

Hiya

I moved you over to the accounting forum.

We had a good thread on this last year:
http://www.mylocalforums.com/account...es-advice.html It mention quite a few packages and is worth a read.

If you want a quick and easy online solution, then Kashflow is an option, or if you want a package to install on your own computer, then it's down to personal choice.

We use Quickbooks, pretty straightforward and does what it says on the tin.

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Hi there,

There are many advantages to buying accounting software not least the cost saving compared with choosing an accountant to complete your bookkeeping and accounts to regulatory standards. However, one of the most important aspects for me is that accounting software allows small business owners to get close to their company financials which in turn enables them to make better decisions for the business. Accounting software ensure that owners can keep a grip of cashflow and submit year end accounting quickly and professionally.

Whilst I beleive that all small businesses could benefit from an accounting software product you need to be careful when purchasing software as there are literally hundreds of products that all offer slightly different features. It all depends on what the needs of your business are when asking which product is best. You could get anything from a basic, cost effective bookkeeping package like 'accountz' or 'quickbooks simplestart' to an expensive fully complex accounting package that enables businesses to fully automate the financial management including payroll such as 'quickbooks premier' 'kashflow' and 'clearbooks'.

You are best spending some time reviewing what you actually want to get from your software before looking for a product. This way you can pick a product that has features to meet the needs of your business. A site like ours can help provide you with some articles and resources to make the right choice if you need them.

Hope this helps - Good luck!

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Compare small business software accounting and crm software quickly and easily at www.comparesoftwareforbusiness.co.uk

Thanks for the advice

I have been searching the web and have been looking into Sage 50 Accounts which looks to maintain efficient accounting and as a growing business i feel this is a must, Does anyone have any experience of Sage 50 Accounts and do you think it will be the right choice?

Personally, I do not think Sage is right for a small business for the following reasons

1) Too Expensive - Sage have always been very expensive for the features they provide due to their big brand and market share. You can get a lot more for your money from other software products on the market.

2) Over complicated - Sage is far too over complicated for the normal small business owner. Most users of sage have the help of a qualified knowledgeable bookkeeper to help them use the software. Sage is riddled with complex terminology and accounting speak.

3) Compatibility Problems - Sage have had with compatibility problems with Sage 50. I have heard many forms of compatibility problems from small business owners relating to Sage struggling with different internet browsers, operating systems and Anti-Virus software programs etc

4) Importing and Exporting data is not straight forward - we believe one of the main benefits for a small business is to export financial data and use the detail of understanding to make better business decisions. This benefit is lost is people find it hard to export data and get close to the detail.

5) The layout is simply not intuitive - there are much better web based accounting packages which are much more easy to use for someone without an accounting background. Sage is clunky and corporate which adds to its difficulty to use.

In summary, I think Sage is excellent for large companies and qualified accoutnants becasue the software is primarily designed for high levels of accounting complexity and structure. It is not a surpirse to see that many accountants want their clients to use Sage because a) They get a discount on the software b) the software is so difficult to use that it locks in the client to needing the accountant! Sage have always struggled to make a product that is cost effective, feature rich and easy to use for the small business market. For small and medium sized business there are far better, easier to use products available that offer much better value for money.

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Compare small business software accounting and crm software quickly and easily at www.comparesoftwareforbusiness.co.uk

I'd say investing in accounting software depends on your business and your budget. You can get by with using Excel spreadsheets if you have a small business with minimal transactions.
Otherwise Sage 50 is pretty good (although relatively pricey) and there are cheaper options including Quickbooks, Zero, Kashflow, etc, etc.
I use Sage 50 and it is good for my business but I'd recommend having a look at a few trial versions online to see what is best for you and your business.

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Hi,
It does all depend on the nature of your business.
And the level of knowledge on computers.
I personally downloaded invoice template for free from internet. Updated my company details. Made Up spreadsheet in excel to keep track of quotes, proformas, Invoices etc. We are a small running business. If I was having loads of work coming to quote, Invoice etc. only then I would think of upgrading to an accounting software.

Would love to have CAD accounting software to calculate the whole project and be able to put a slider for what profit I would like on each project. It will calculate the materials labor etc etc. But cost loadsa money.

At the moment away from CAD dream account software... My system works perfectly for the volume of work I have. I have tried Sage Line 50 in the past when I was working for another company I got to confused with all the accounting terminology. But another easy software I used was DOsh books but was along time ago. Not sure if they are still going??

Hope this helps

It would help if you could give an idea of what you will be using the software for. If it is just to record simple incoming and outgoings then a spreadsheet will be just fine.

You have to take a lot of factors in mind when deciding on what accounting package you want to invest in. Whether you want something offline or cloud based. We would suggest Xero as it is a very simple system but there any countless number of systems available.