Small business accounting software NZ will allow to manage your accounts and financial activities easily and effectively. There are so many software to choose from and it can be tough to ensure you get the best out of them. If you know the best way to use the accounting software NZ, then you stand a good chance of maximizing your return on investment (ROI).
Do you want to learn more about small business accounting software NZ? Have you heard good things about the myob accounting software NZ? Would you like to know more about free accounting software nz? You’ll find some good info on accounting software in new Zealand.
MYOB
Aussie-made, MYOB provides proven accounting solutions to a wide range of businesses. It can streamline your bank feeds, payments, and cash flows.
It offers several products that cater to different business needs. Whether you need payroll, accounting, or an ERP solution, they have them at competitive rates.
Their Essentials’ plans are designed for SMEs, while their ERP solution is for industrial-type ventures and provides you with real-time visibility and statistics.
MYOB software can be used on any device like your phone, laptop, or tablet. Hence, you can work on your accounting and bookkeeping anywhere you want.
With over 300 apps available, you can also upgrade your MYOB software to drive your business. And on top of that, their customer support team is ready to assist you 24/7.
Pros
- Accurate reporting
- Competitive rates
- High-security standards
- 24/7 customer support
Cons
- Expensive monthly subscriptions
Xero
Xero provides all the useful tools and features to run your business, from sending invoices to monitoring business profitability and customising the software.
Widely used by many independent reviewers, business owners, accountants, and bookkeepers, Xero certainly has the best accounting software in NZ!
From their 3 plans, you can choose between Starter, Standard, and Premium options.
The Starter plan starts from $27.50/month, affordable and comes with limited features since you can only send 20 invoices and quotes as well as make 5 bills.
On the contrary, the Standard Plan lets you create invoices and bills without limit, record expenses for 1 person, and reconcile bank transactions, to name a few.
If your business is already established, the Premium Plan could be what you need. In addition to the features of both Starter and Standard plans, the premium plan enables you to transact with international clients through different currencies.
Also, Xero has an online app store with over 800 programmes, including Xero Expenses and Xero Payroll. These can be added into your software to give your business an edge.
Pros
- Affordable starter plan
- Can link to third-party apps (like Stripe and Vend)
- 24/7 customer support
Cons
- Starter plan lacks features
Wave Accounting
- Powerful accounting software that’s completely free
- Handy receipt scanning mobile app
- US/Canada focus limits UK functionality
- Cloud-based – works on web browser, mobile, and tablet
What is Wave Accounting?
Founded in 2010 in Toronto, Canada, Wave Accounting is powerful, free, cloud-based accounting software that has a great UI and a slick marine design scheme. It makes its money by selling payroll and payments services (alongside display ads), which means its free accounting software is pretty much unlimited in terms of account size etc. All this means Wave Accounting is beloved by US startups, but its US/Canada focus means it’s not an ideal fit for UK small businesses – and some may find it a non-starter for this reason.
What can Wave Accounting do?
Wave Accounting’s great range of features includes:
- Tools to create and send professional invoices, even on the go
- Unlimited income and expense tracking
- Receipt scanning via an iPhone/Android mobile app
- Create and export a range of accounting reports
- Multi-currency support with automatic exchange rate calculations
- Integration with Shopify
- Connections to PayPal, Shoeboxed, and Etsy
- A smart dashboard that organises income, expenses, payments, and invoices
- As well as receipt scanning and invoice creation, the mobile app allows you to easily keep track of your accounts on the move
Why is Wave Accounting free?
As mentioned above, Wave Accounting makes its money by displaying ads, and most importantly, by selling payments and payroll services. These services are targeted at US/Canadian customers, with the payroll service being exclusive to those customers. This focus means that, for UK small businesses, Wave Accounting has some significant deficiencies.
Most notably, Wave Accounting does not support the new Making Tax Digital (MTD) protocol for VAT, and so it will be of only limited use to businesses that need to register for VAT and file VAT tax returns digitally. Unlike some of the other providers discussed here, it also does not support the automatic importation of bank transactions via open banking, making keeping track of your financial activity a more time consuming process.
What support does Wave Accounting offer?
Wave offers expert help via its community forum, and you can also ask for technical support via a help function built into the platform. There is no phone support available, however.
Reckon
No matter what size of business you have, Reckon can simplify your bookkeeping and transactions in order to provide a satisfying experience to your customers.
Starting from just $8 a month, you get real-time information presented neatly in your dashboard. That way, you won’t have to record your company finances manually every day.
The upside to Reckon is that they have optional services you can add only if needed. In other words, you won’t need to pay ‘by the bulk’ with services that you won’t use.
You can incorporate POS software for $29 per month to add discounts for the buyer, and/or invoicing function for just $4 a month to track overdue and paid invoices.
As opposed to Xero’s $75-per-month premium plan, Reckon’s premium pack only costs $32 per month, bringing you serious value for money.
Pros
- Value for money
- Secured data storage
- Responsive customer service
Cons
- Limited bank transactions
Customer Reviews
On Trustpilot, lots of people praised the fabulous customer service and user-friendly software of Reckon.
Nicky from Landscaper wrote this feedback:
“Brilliant – I have used Reckon for over 5 years. I am thrilled with the value for money and the excellent service. Love this product, it has everything I need.”
Also, let’s hear Rachel’s review:
“Every time I call for an assistance, I get answers to what I have asked. Always have very helpful person on the other end. Very user friendly software for me and the Reckon community is great, people are friendly and very helpful. You should thank all of them.
We use the personal reckon at home too, great product.”
Sage Business Cloud Accounting
With a neat and pleasant user interface, Sage Business Cloud Accounting can help you manage your cash flow, send invoices, and track payments.
Featuring auto-bank reconciliation, you’ll be notified of payments sent to you by customers or cash deposited into your bank account.
It’s also easy to update your accounting software with new receipts. Simply snap a picture of them and they will be transferred into the system via AutoEntry.
If there happens to be a mistake in the financial records, you can communicate securely with your accountant from your phone, computer, or tablet.
Sage Business accounting software also supports Stripe, allowing you to get your payments quicker from clients.
Pros
- Affordable rates
- 24/7 customer support
Cons
- Suitable only for small companies
Conclusion:
You see, accounting is not just about incomes and expenditures. It’s a broad term that includes many functionalities, just like any business software. You have to be able to handle payroll, billing, inventory management, online payment processing, discounting etc. To name a few. Thus, good accounting software has to be multi-functional and feature-rich.