The competition in the accounting software marked is growing and expanding every year. There is a wide variety of accounting software available in the market, making it difficult for users to decide which one they need the most. However, there are some top 10 accounting software uk which always comes on top in all aspects when it comes to identifying your needs.
There are many free accounting software for small business, but there is a vast range in terms of features and capabilities. Therefore, it’s essential to have a list of the top 10 accounting software uk that helps you to find the best solution for your business needs.
Plooto
Plooto is an innovative payment processing system designed to automate the Accounting Payable (AP) and the Account Receivable (AR) process. The platform enables accountants, bookkeepers, and businesses to expedite payment approvals and the way they get paid. It offers a comprehensive suite of features including powerful approval workflows, customizable approval tiers, automatic accounting reconciliation, and pre-authorized debit agreement.
Plooto untethers you from the approval tasks that can easily be delegated to your staff without compromising control. For example, you can stipulate approval tiers (based on the bill amount) and assign approval roles to your accountant or the office manager. This way, when bills are logged, an email notification is sent to the relevant person(s) to nudge them to approve payments. Then, Plooto reconciles your books instantly and retains an audit trail of who approved what, and when. The vendor offers a comprehensive free trial to get you up to speed with the features.
Try out Plooto with their free trialVISIT WEBSITEFREE TRIAL
On the other hand, Plooto provides the tools you need to smoothen out the way you receive payments. For merchants or property managers, the Pre-Authorized Debit (PAD) agreement is the best bet to put your AR process on autopilot. Once you sign the PAD with your client(s), funds are automatically withdrawn from the client’s account every time you ship an order or when rent is due.
Xero
Websitewww.xero.comPrice from$9.00/moFree Trial30 days
Best cloud accounting software for mobile users.
Best for:
With no technical or accounting skills required, any small- or medium-sized business would benefit from Xero’s comprehensive feature set. Though it isn’t technically designed for accountants, its built-in accountant access allows accountants to work with their customers easily without having to download and share files. In addition, freelancers will find Xero to be a simple solution for tracking income and expenses.
Key features:
As with most of the accounting software on this list, Xero is available at multiple subscription levels with increasing functionality at each price point. At its core, Xero is a double-entry accounting platform with a customizable chart of accounts. It also has more than 700 third party integrations available, making it the most versatile product on this list in terms of integration-based functionality.
The Early plan, which is the lowest-priced, includes a fairly limited feature set, allowing users to send up to 20 invoices and quotes, enter up to five bills, reconcile bank transactions, and use Hubdoc’s receipt and bill capture. At the Growing plan level, users can send unlimited invoices and quotes and enter unlimited bills. The Established plan includes all features of the lower two subscription tiers plus multi-currency tracking, capture and management of expense claims, and project times and cost tracking.
Payroll is available through an integration to Gusto, and there is an Expensify integration to facilitate receipt, mileage, and company credit card tracking; both products incur an additional monthly cost. Xero also integrates with other project management packages, including Trello, retail sales platforms, such as Shopify, and CRM packages, including Salesforce, HubSpot, Pipedrive, Mailchimp, and Agile CRM.
Inventory management also costs extra, but it’s a native Xero product, and there’s a handy purchase order management feature, too. Users who need a more robust order, shipping, and inventory management platform will appreciate the Orderhive integration in the Xero App Marketplace, as well.
Xero’s mobile apps are available for iOS (including iPhone, iPad, and Apple Watch) and Android. The mobile app functionality tends to be less robust than the web-based version, but users will still be able to send invoices, enter bills, and complete bank reconciliations, as well as view the real-time dashboard data for cash flow and profit and loss.
Unlike other software products on this list, Xero doesn’t restrict the number of users per subscription. As many users as necessary can be added, and specific permissions can be set per user. However, Xero only supports a single entity per subscription, so business owners with more than one entity will have to subscribe multiple times. Xero also isn’t as scalable as other products on this list.
The clean, intuitive dashboard simplifies the reporting process—most of the necessary information is right there, readily available in real-time. All reports are customizable, and Xero includes a drag-and-drop feature that makes the customization process quick and painless. Reporting is limited from within the mobile app, but the sharing features in the cloud-based version make up for that shortcoming.
Ease of use:
Because of its simple and straightforward design, Xero is one of the easiest cloud-based accounting software platforms to use. Anyone can set it up and navigate the interface with just a little bit of effort—even with no accounting skills or background at all. Automated bank integrations make managing transactions easier than ever because the built-in machine learning functionality allows Xero to learn the transactions that are downloaded, reducing the volume of data entry over time. Customer support doesn’t appear to be the best, but Xero Central is available, and includes both support and self-service learning sections with quite a few guides and very good training materials.
Cost:
Prospective users should know that Xero plans to increase its subscription fees at the beginning of 2021, according to the website, but even with those rate increases, Xero is considered quite affordable overall. Of its three plans, Growing is likely to be the one most businesses start with, and its monthly cost won’t break the bank. The 30-day free trial that Xero offers should be enough to help most users determine whether they want to move forward with a subscription.
Things we liked:
- Over 700 app integrations
- Ease of use
- Unlimited users with user-level permissions
- Intuitive, clean dashboard
- Affordable
Things we didn’t like:
- Not the greatest customer support
- No multi-currency functionality except at top-tier pricing
OneUp
OneUp is the best small business accounting application you’ve probably never heard of. Ideal for sole proprietors and freelancers, with its robust inventory management module, OneUp is a great option for retail businesses.
OneUp is also suitable for growing businesses, with pricing based solely on number of users rather than features, with the Self plan, for a single user, including the same features as the Unlimited plan.
OneUp offers a good selection of features, including the option to connect your bank accounts or enter transactions manually.
Other features include the ability to process vendor and sales quotes, purchase orders, and credit memos, and the Opportunities feature lets you track and manage all potential sales directly to a product.
OneUp offers a terrific invoicing option, with the ability to request payment immediately.
OneUp does not offer the option to process checks for vendor payments, though you can pay your vendors electronically or enter payment information directly in the application. A mobile app is also available for both iOS and Android devices.
OneUp pricing starts at $9/month for the Self plan, and goes all the way up to $169/month for the Unlimited plan, with all plans including the same features, so you’ll only need to scale up if you add additional users, not to gain access to more powerful features. The biggest drawback to OneUp is the lack of a payroll option.
By far, the biggest benefit of using OneUp is having access to all of the application’s features and functions from day one, whichever plan you choose.
Conclusion
There is an accounting software around for every type of business and every type of accounting program you could need. Whether you’re a small business owner or an enterprise corporation, there’s the accounting software to fit your environment and your finances.