Best Small Business Accounting Software

Starting a small business isn’t the easiest thing in the world, and if you are going to do it seriously right from the go you are going to need to make sure that you keep your finances in order. By using small business accounting software you are going to keep yourself from losing track of the income and expenditures of your business as well as decreasing potential headaches in the future.

Get the best fit small business accounting software

Small business software comes in many shapes and sizes.  Often you will be faced with some very complex packages, but ask yourself: do you really need something that is meant for a larger company when really something which is specifically meant to be small business software is far more appropriate? 

Self employed, sole employee, small team?

If you are a the only employee of the business then you will not need to worry too much about a piece of software that will keep tabs on paying your staff, obviously.  However keep in mind that sometimes you might want some piece work to be done - temporary staff to pack a few extra boxes in time for a commercial show, for example, and you will need to verify this with the taxman.  You might employ just a couple of people but it all still counts.  You will need then to invest in small business payroll software. 

Is it wise to buy 'Sage?'

The best small business accounting software packages that you can get will have the features of keeping track of invoices, bills, employees, expenditures, stock control, track projects etc.. And for that you might need to look at something like the Sage accounting software.  This really is the best of the lot when it comes to something as complex as finding the best accounting software packages simply because it does so much!  It will seem pretty daunting as a package at first, but there are plenty of tutorials to get you going.  It is a bit expensive, and for a small business you would want at least to look at the Sage 50 Accounts package which comes in at over £500.  However, don’t miss the entry level package at £115 (+vat) – Sage Instant Accounts.

Don't get tied up in knots!
Don't get tied up in knots!

Sage 50 Accounts 2012 case study

Summary considerations

  • Are you employing others – in which case payroll software is key
  • You WILL need to consider tax – make sure that the tax accounting software features are easy to use and accessible.  Try before you buy if possible.

If you do have time, don’t rush into buying your business accounting software.  If you can, then you should take the time to ask around.  There are plenty of local organisations set up to support small businesses, and they will be able to advise you on the best software for your set up.  But at the same time, don’t leave it so late that you will have to spend a few days inputting large amounts of data.  The purpose of small business accounting software is to save you time and effort so that you can spend more time on your business.  Do the research, but then don’t hold back on making your purchase.

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