The self employed UK needs good accounting software to manage their finances and money matters. Available for free, these Accounting Software Uk can help you get started and keep track of your finances and profits and losses of the business. Free accounting software best for self employed UK can be downloaded easily from the internet.
It is vital that small business owners and self-employed people can keep on top of their cashflow and businesses, which means effective cashflow management. This post explores the best accounting software for self employed UK and the best accounting software for small business UK.
QuickBooks
QuickBooks is developed by Intuit, one of the very earliest providers of accounting software, and it’s cloud-based.
Freelancers can sign up for the basic Self Assessment package that helps you track your self-employed income, while small businesses can use it for things like VAT and payroll. There are lots of reporting and monitoring tools too. You can connect your account with over 700 third party applications through the QuickBooks App Store – this lets you reduce time spent on data entry, payroll processing, capturing backups and tracking inventory. Subscription prices start at £8 a month (for the Self Assessment package) – but prices are sometimes reduced for the first six months.
For small businesses and VAT-registered companies who want to use the accounting and VAT features, prices start at £12 a month. These are the packages that are ready for Making Tax Digital.
Sage 50c Premium Accounting
Sage 50c is a large online accounting software for small business that has been primarily designed for desktop use. One of the most significant elements of the online accounting software is that it is cloud-based. Businesses can share their financial data with their accountant and other users by storing it on the web-based Sage Drive. Although Sage has adopted the cloud, it still lacks integrated browser-based remote access for transaction entry and data retrieval.
For small businesses looking for an online accounting software tool that will provide a solution with a strong feature set and exceptional customisability, especially in terms of inventory management, Sage 50c is one of the accounting software in UK. The online accounting software is known to have the most thorough documentation and provides online and phone-based support, as well as professional advisers.
Why Sage 50c Premium Accounting is one of the best accounting software in UK
Businesses can easily view their financial reports from their laptop, tablet, or smartphone without having to go into Sage 50. Being cloud-based, this online accounting software comes with automated offsite back-ups. Businesses can also undo data entry errors by restoring data from the cloud as of a date.
Cons
Sage has only released an iOS version of its app and has not released any app specifically for Android users.
Pricing
The Sage 50c premium accounting software comes in three different packages, with monthly and annual plans. The most basic package, the Sage 50c Essential is targeted as an online accounting software solution for micro businesses looking out for an accounting software for small business and provides licence for a single user. The basic plan costs £20 per month and £240 annually and enables businesses to manage cashflow, income expenses and payments, along with secure cloud access and backups. Sage 50c premium provides a 30-day free trial period only for its advanced packages – standard and professional. The Sage 50c premium standard plan is a desktop accounting solution that costs £60 per month and £720 annually and comes with stock management and departmental analysis. The professional plan comes at the cost of £125 per month and £720 annually that provides access to over 20 users. In this plan, businesses can manage an unlimited number of companies and receive in-depth stock reporting. Both the standard and the professional provide support for Microsoft office 365 Business Premium.
Crunch Accounting Software
Crunch was started in 2007 by its founder Darren Fell after he found shortfalls in accountancy firms. He, therefore, decided to set up an all-inclusive service for freelancers, contractors and small businesses.
Crunch Accounting software is ideal for self-employed, freelancers and small businesses. They offer a free version, which is simple to use.
On reviewing the software, I can not see any reports, which I feel is essential as a bookkeeper.
Crunch Accounting Software Advantages
- Easy to use dashboard
- Easy to setup
- Free version
- Upload bank statements
- Unlimited transactions
- Accounting invoicing on the go
- Unlimited Expenses
- Cloud-based accounting software
Disadvantages of Crunch
- No financial reports available
- Can’t set the VAT rate
- Straightforward invoice template with no options.
If you are planning to complete the accounts yourself, then Crunch, I feel, is not the best option.
If you need support with the bookkeeping and submitting accounts, you will need to upgrade at £71.50 per month. This is not the cheapest option for software but may suit some businesses for the support and additional features.
FreshBooks
Benefits of cloud-based FreshBooks include the user-friendly interface and lack of jargon. It’s designed for freelancers and small businesses with basic accounting needs, so it focuses on things like invoicing and expense tracking. It integrates with apps like PayPal and Zendesk.
FreshBooks starts at £11 a month for its ‘Lite’ package, although this is sometimes reduced for the first three months. It also offers a free trial, so you can see if it’s right for you. FreshBooks says its packages have everything you need to stay compliant with Making Tax Digital, so check it suits your needs.
KashFlow
Founded in 2005, KashFlow has won numerous awards including Best SME Accounting and Finance in 2011 and 2012 and Best Small Business Accounting Software in 2008 and 2009. Currently, there are 57,000 businesses using KashFlow in the UK. These accolades make this online accounting software as one of the best accounting software for small business and best accounting software in UK.
Why KashFlow is one of the best accounting software in UK
KashFlow now has its own app called the KashFlow Go. The app is targeted towards traders and the needs of an online accounting software for small business. It is available on both Android and iOS and has been designed to provide a financial overview of the business while on the go, create and send quotes and invoices.
A unique aspect about the this online accounting software is that the software directly links to HMRCenabling users to access all data in a single place, easing compliance burdens. It also integrates with industry leading online payment processors like Worldpay and GoCardless.
Cons
Although this online accounting software has addressed some user requests, it has still downgraded features in many aspects. The software has dropped the number of integrations on offer and has removed their customisable dashboard feature. KashFlow also faces issues with navigation on the website.
Pricing
The online accounting software offers a free 14-days trial. Following the free trial, the company offers three pricing plans. The Starter (£8 per month and £56 annually) plan is ideal for sole traders, contractors and small businesses, business which is £14 per month, and business and payroll. Apart from a free mobile app, the plan allows a single user to send unlimited quotes & 10 invoices, reconcile up to 25 bank transactions, manage and submit VAT online, access to over 50 reports, customisable dashboard. manage purchases & expenses and track mileage. The Business (£15 per month and £111 annually) plan, ideal for growing businesses and limited companies, includes unlimited invoices, unlimited bank transactions, repeating invoices & purchases, multi-user and multi-currency features over and above the Starter plan. The Business + Payroll (£21 per month and £150 annually) plan has added features of payroll up to 5 employees.
The annual subscription for all the plans has an additional 4 months free for a limited period.
Conclusion:
These free accounting software UK will help self employed business owners get through their finances with great simplicity. Such accounting software helps keep track of how much money you have made for yourself at any given time. It also helps you to stay organized about your purchases and also makes it so simple to file all the necessary tax forms. It’s something that any related business owner should have on hand to get organized, but if you’re looking for the best service out there at a very affordable price, you need to check out one of these offers!