The accounting software is designed for use by a small business or home based business. It caters to the needs of a small business and is easy to use. These applications are best suited for small businesses, yet it can be used for medium size businesses as well.
Xero
Xero is one of the best known and renowned accounting software. The interface is intuitive and the dashboard provides a great overview of your business.
Xero offers a wide range of features including invoicing, bank reconciliation, bank connections, the mobile application, multi-currencies or even purchase orders.
However, there is no dedicated Irish version. So you will need to make some adjustments on the following issues:
- VAT Return – Xero does not offer an easy way to calculate Irish VAT.
- Irish Specific Reports – Although accountants can still use the software for Irish VAT, the software does not produce Irish reports. For example, Trading Rate Return (RTD) is not applicable on Xero software.
- There are problems with the declaration of purchases in the EU and it does not apply VAT according to RCT rules.
Xero is a perfect choice if you are a visual worker and appreciate beautiful dashboards. It can also be integrated with other applications so that you can improve your experience and become a tool for steering your business allowing better business decisions.
Surf
Surf Accounts is an Irish system whose cloud-based accounting software and Customer Relationship Management system perfectly suit small and medium-sized businesses. A Surf subscription includes:
- Free unlimited telephone and email support for their clients, so you can always get help when you need it.
- Stylish invoicing, bank reconciliation, inventory management, and payroll are just some of the features that Surf offers. The software is fully adapted to Irish tax standards and very user-friendly.
- All their systems can be updated in real-time collaboration with your accountant and accessed anytime, anywhere, and on any device.
- Business owners and accountants can work in the system at the same time, making account management quick and easy. There is no need to look for backups or restores, decreasing downtime and other issues.
Why choose Surf?
Surf Accounts is perfect for you if… you’re a small to medium-sized company that wants software that can manage all your business finances in one place.
Pricing: Free 30-day trial with a monthly subscription starting at just €14.95 with a free advisor login. (Checked in August 2021)
Sage
Sage One is based in the UK and has a system adapted to Irish law and accounting rules which is suitable for small and medium sized businesses. They offer different packages depending on your needs. So you can choose the one that best suits your business.
A Sage subscription includes billing, payments, reporting, and logging into your bank account.
It is always updated with the latest requirements of VAT legislation.
Sage is perfect for you if you are new to your business. You can start with Sage Business Cloud and when your business grows you can upgrade to Sage 200cloud or SageX3.
Kashflow
Kashflow is a UK product that, like Xero, has had to adapt to the Irish market. The interface on Kashflow is very user-friendly and easy to navigate, but probably not at the same level as Xero. The company is well established in the UK market and has won numerous awards.
Kashflow’s adaptation to the Irish market has made it a very popular choice of software.
- It handles bank feeds for the majority of Irish banks very well.
- It can handle the Irish cash accounting for VAT. Crucially, it can also manage the Irish Return of Trading Details.
- KashFlow offers payroll features so your bookkeeping and payroll systems can be integrated.
Why choose KashFlow?
The only negative is that there appears to be little movement in the area of innovation. The interface also lacks the sharp sleek look of some of its competitors.
Kashflow is perfect for you if … you want an online accountancy software that gets the job done and gets it done at a low price.
Pricing: Offers a free trial then it is £9-£24 + VAT per month for the first 4 months. (Checked in August 2021).
AccountsIQ
AccountsIQ is Irish accounting software and therefore has all the functionality required by Irish law, but also functionality for UK, US and Australia. AccountsIQ is ideal for large companies or startups with high potential. As the system is sophisticated, the price is higher than the other software presented in this article.
It specifically targets companies with more complex accounting requirements. Accounts IQ is designed for multi-entity and multi-currency accounting.
Its dashboards are intuitive and the software is easy to use in general.
The reports are sophisticated and also include non-financial reports, which are important to the proper functioning of the business.
AccountsIQ is perfect for you if you are a large company or a high potential startup that needs fully enabled and straightforward Irish software with consolidation capabilities.
Wave
Wave is free software that offers accounting, invoicing, receipts, and payments services. However, they do charge for allowing businesses to accept payments online which may be required in order for invoices to be paid faster or for payroll considerations. Each transaction is paid when it’s charged and you only need to pay for what you use. Perfect for small businesses.
Why choose Wave?
Wave is perfect for you if… you’re a small business and you have business with EU and non-EU customers.
Pricing: Free!
QuickBooks
QuickBooks Online is the best overall accounting software for small businesses of those reviewed. Not only do the majority of small business accounting professionals use QuickBooks Online, but there are also endless online training resources and forums to get support when needed. All accounting features can be conveniently accessed on one main dashboard, making bookkeeping more fluid and efficient.Pros
- Scalable
- Commonly used by accounting professionals
- Integration with third-party applications
- Cloud-based
- Mobile app
Cons
- Upgrade required for more users
- Occasional syncing problems with banks and credit cards
Intuit’s QuickBooks Online has been the most common accounting software used by small businesses and their bookkeeping and tax professionals. The software is cloud-based and can be accessed through a web browser or through the mobile app.
After the 30-day free trial, the four options for subscription plans include: Simple Start at $25 per month, Essentials at $40 per month, Plus at $70 per month, and Advanced at $150 per month. Typically there is a significant discount offered for the first few months, and some accountants are able to offer wholesale pricing to small businesses, as well.
The monthly subscription for this software can be upgraded as a business grows, and there are many customization options with the mobile app that can be used to receive payments, review reports, capture an image of a receipt, and track business mileage. For businesses looking for a payroll solution, QuickBooks Payroll fully integrates with QuickBooks Online.
Each plan offers more advanced features like inventory management, time tracking, additional users, and budgeting. Most service-based small businesses will find that Simple Start meets all of their needs. For product-based small businesses, Essentials or Plus will have more options for inventory and customizations. The Advanced subscription is a new offering and provides robust financial reporting that is powered by Fathom. Fathom is an elite online financial report analysis tool used by many large companies all over the world.
All plans allow integration with third-party apps such as Stripe or PayPal. QuickBooks Online’s app store breaks down all of their apps by function and provides helpful examples of the benefits of each app.
FreshBooks
The most crucial accounting need for most service-based businesses is invoicing. FreshBooks offers more customizations for invoicing compared to other accounting software. Its primary function is to send, receive, print, and pay invoices, but it can also take care of a business’ basic bookkeeping needs as well. This accounting software makes it easier for service-based businesses to send proposals and invoices, request deposits, collect client retainers, track time on projects, and receive payments.Pros
- Cloud-based
- User-friendly interface
- Third-party app integration
- Affordable
- Advanced invoicing features
Cons
- No inventory management
- No payroll service
- Mobile app has limitations
Founded in 2003 in Toronto, FreshBooks started as just an invoicing software. Over time, more features have been added and FreshBooks now has over 500 employees. There are four different plans, and businesses can get a 10% discount if they choose to pay yearly, rather than monthly. Additionally, FreshBooks offers a 60% off discount per month for six months. The four plans are: Lite at $6 per month, Plus at $10 per month, Premium at $20 per month, and Select, which is a custom service with custom pricing.
The main difference between the four plans is the number of different clients that are allowed to be billed per month. In the Lite plan, up to five clients can be billed per month. In the Plus plan, up to 50 clients can be billed per month. In the Premium plan, unlimited clients can be billed per month. The Select plan also does not have a limitation on the number of clients that can be billed per month, but adds unique features. It costs an additional $10 per month for multiple team members to use the accounting software and it costs an additional $20 per month for the advanced payment feature, which allows users to charge a credit card in real-time or set up a recurring credit card charge for a client.
There are many third-party app integrations available, such as Shopify, Gusto, Stripe, G Suite, and more. A unique feature of FreshBooks is that invoices can be highly stylized and customized for a professional look and feel. FreshBooks is a great tool for budgeting out projects, sending estimates or proposals, and collecting customer payments.
Conclusion:
Accounting software for small business that’s simple, straightforward and easy to use. Transform your finances with a smooth-flowing process that will get you quickly up and running.