Book keeping and accounting software for small business owners and sole traders.
For those just starting out with their first business the prospect of keeping business accounts can seem a little daunting and it’s not surprising that many people put it off until the last minute? However, there are several business accounting programs which are ideal for small businesses and one man bands which are well designed and relatively simple to use.
To start with your accounts will be fairly straightforward and you’ll probably manage OK with a spreadsheet which has been adapted to suit your needs.
As your business grows and becomes more complex though, you might find that your spreadsheet system is not as advanced as you may like, especially when you are managing several accounts, buying and selling stock and, not to mention VAT!
A proper business accounting package will make your life a whole lot easier so it’s worth considering whether you should start using one from day one. Although some professional business accounting software can be quite costly at the small business level you’ll probably find a free or low cost solution will do just fine.
Choosing the Right Accounting Package for Your Business
Obviously every business is different and only you will know exactly what you need from your accounting software but here are few points to consider:
The size of your business The number and complexities of transactions The number of people using the system overall
What will you use your accounts package for?
It’s a good idea to decide what you need from your accounts software before committing yourself. Not only do you need to think what you need today but what you’ll need when your business grows. For instance, you may not have to worry about VAT in the beginning but very soon you will and you don’t want to find that the basic package that seemed perfect initially can’t cope with more advanced functions.
Possible requirements:
- Basic book keeping
- VAT
- Payroll
- Invoicing
- Credit Control
- Stock Control
- Management Reporting
Small Business Accounting Software
GnuCash
GnuCash is a free to use personal accounting package which is ideal for sole traders, freelancers and small business owners who require a simple computerised accounting system.
GnuCash is an open source software product and is available in Linux, Mac or Windows versions and, because the system requirements are relatively light, is especially suitable for use on netbook computers. Free to download and use.
Kashflow
Kashflow is an on-line accounting system which can be used from any computer with an internet connection. Kashflow is relatively simple and straightforward to use and has been especially designed to be used by small business owners.
The system is compatible with all standard accounting functions and formats and support is free. There is a monthly subscription of £15.99 with a free 60 day trial.
MS Office Accounting Express
Office Accounting Express is a free to use Office application which provides small business owners with a simple, easy to use accounting package with a host of useful features.
The system has the look and feel of a regular Office product and is easy to set-up and use. Free to download and use
Solar Accounts
A straightforward accounting system designed especially for small business owners.
Unlike some other programs Solar Accounts doesn’t assume that you are an accountant and is ideal for those who find the whole subject of book keeping and accounts a little daunting. £99 plus VAT with a 60 day free trial
TasBooks
A free version of the company’s popular book keeping software. Ideal if you want to keep track of your cash-flow and perform simple book keeping and accounting functions.
The TAS system is easy to understand and navigate and includes a simple flow-chart which will guide you through the features of the program. Record all your financial transactions, customer and supplier records and keep on top of your VAT records.
As your business expands you can upgrade to premium versions. Free to download and use.
VT CashBook
A very basic and easy to use cashbook solution for sole traders and freelancers. The VT CashBook interface is very basic an intuitive and enables quick data entry, bank account support and reconciliation, VAT returns, profit/loss accounts, balance sheets and ledger reports.
There is also an option to trial or upgrade to a premium version at a later date. Free to download and use.
QuickBooks
A range of best selling book keeping and accounting software to help businesses of all sizes mange their cash flow and accounts.
There are various options including the SimpleStart version for small businesses, Quick Books Pro and Quick Books Premier. Download or Buy from Amazon – prices start at around £89
