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Can you recommend book-keeping software for small business please?

(18 Posts)
yogalover Wed 30-Nov-16 18:22:15

Thanks

Badbadbunny Thu 01-Dec-16 11:30:21

You need to tell us more about your needs. There are dozens of software, all of which are excellent and highly recommended. There is no "one size fits all".

So, is it for a sole trader or limited company?
Are you selling products or services?
Do you want desktop or cloud/internet?
Do you employ staff?
Will you be vat registered? And if so will you be on the flat rate scheme?
Are you engaged in building/construction (will the CIS scheme apply?)
What's your budget?
Do you need reporting by product, customer, contract, division?
Do you need stock control?
Do you need it for customer database?
Do you take or give credit from suppliers/to customers?
Do you handle cash or are all transactions direct through the bank account?
Do you trade online? Do you have a website? Do you use paypal or other credit card processing?

The answer to the above will determine what software will be "best" for you.

Alternatively, ask your accountant as it's usually simpler/quicker to use software that the accountant already works with and they'll also be able to help you set it up and use it properly.

Hellmouth Thu 01-Dec-16 11:34:41

What Badbad said.

I actually work for a bookkeeping software company, but I won't tell you which one as it will out me :D

Inthenick Thu 01-Dec-16 11:42:01

I use freeagent. I find it very good as a limited company with one employee. My bank accounts are hooked up etc but really my accountant does all the stuff on it so it's more a communiation tool between us really.

hambo Thu 01-Dec-16 11:46:27

Can I please answer as I need one also:

*sole trader
*selling products
*desktop
I do not employ staff?
I will not be vat registered?
I am not engaged in building/construction (will the CIS scheme apply?)
What's your budget? Free or tiny!!
Do you need reporting by product, customer, contract, division?No
Do you need stock control?NO
Do you need it for customer database?Yes but not important
Do you take or give credit from suppliers/to customers?No
Do you handle cash or are all transactions direct through the bank account?Bank account
Do you trade online? Do you have a website? Do you use paypal or other credit card processing? I do not trade online

It seems a bit rude to post on another OP's thread but any help or direction would be brilliant - I am a small company and end up designing, making, selling doing the marketing, doing my accounts....I need help!!!

MyVisionsComeFromSoup Thu 01-Dec-16 11:50:45

we generally recommend Xero to clients, don't much like Freeagent as it doesn't export nicely to excel for playing around with budgets, year end account prep, etc.

What you need to do is get free trials with the different ones, and see which you prefer, but also check with your accountant, as something which imports into their software will save time and costs all round.

hambo Thu 01-Dec-16 11:51:52

Thank you MyVisiona

pinkunicornsarefluffy Thu 01-Dec-16 11:55:55

There is a great product called VT Transaction+ which you can use for bookkeeping and VAT returns. It costs around £180 a year and is linked to spreadsheets. You can download a trial version. There is also a lite version which is free called VT Cashbook but it doesn't have the full functions of the priced one. I have been recommending that to my clients for basic bookkeeping as I can then use the data to produce their accounts.

I also have a client who is using Sage 50 online version and that is quite simple to use too.

pinkunicornsarefluffy Thu 01-Dec-16 11:56:28

sorry, just realised I only pay £180 a year as a repeat subscription, I think it is £240 for the first time you buy it, but the free version may be enough for your needs.

ElizaSchuyler Thu 01-Dec-16 11:57:02

I use Sage in my job but wouldn't reccomend it.

A book keeping forum I frequent often reccomends Quickbooks

Badbadbunny Thu 01-Dec-16 11:57:54

hambro

I'd suggest looking at the "VT transaction" software - google for it. It's desktop based and costs around £130 for a one off purchase. There's a free "cash book" version too if you don't need to track debtors/creditors. Exceptionally easy to use for the basic recording and analysis of transactions. What's more it's easy to correct errors. It's been around for many years so most accountants know it and many will use it themselves for in-house client book-keeping. No bells and whistles, but ideal if you don't want the gimmicks.

ElizaSchuyler Thu 01-Dec-16 11:58:13

Or Moneysoft.

hambo Thu 01-Dec-16 12:57:00

Thank you everyone! I am googleing like a mad lady, it will be so helpful when it is all set up - currently I keep track with a pencil and an accounting jotter!

yogalover Fri 02-Dec-16 13:05:32

Thanks everyone I think I have similar needs to Hambo

lovelyupnorth Sat 10-Dec-16 11:59:45

We use sage one quiet simple and links to HM RC and bank only £5 a month cloud based

tribpot Sat 10-Dec-16 12:26:46

The company I contract through uses Xero.

For my own company accounts I use YNAB, because I already use YNAB for my personal budgeting/accounting. My company only issues one invoice each month and only has one person on payroll (me).

I was already familiar with YNAB's approach to budgeting and accounting so I used these posts to get me started on business accounts:
Accounts Receivable
Account set-up.

My accountant prepares all the VAT returns and a copy of my accounts, I believe in Xero.

dementedma Fri 10-Feb-17 21:58:21

We use SAGE One.

WingMirrorSpider Fri 10-Feb-17 22:02:07

We also use Xero. It's nice and easy to use and links directly to the bank so it imports transactions. There are a few things I'd change but on the whole it's the best one we've tried for our small business.

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