Main article content

What is the best accountancy software for startups?

Date: Jul 27, 2020

What is the best accountancy software for startups?

Q&A Monday | Season 1 | Episode 2 | Question 6

What is the best small business accountancy software?

Helen: I would say Quickbooks or Xero, but I think it depends on the size of your business, for example, you don’t need Xero if you’re a really small business.

The subscription for Xero is higher than Quickbooks, and Quickbooks do have a self-employed version, but in my own opinion it is not as good as their basic business level, Simple Start, and then you have Essentials and Plus.

So even in one software you have 3 different levels.

There are other ones out there, but they can sometimes make things more difficult as they will only deal with one side of what is needed to manage your business properly. For example, it may show you the income and expenses, but when it comes to doing your accounts we’ll also need to see what assets you have and what money you have in the bank account.

So something like Quickbooks or Xero allows us, as accountants, and you as the consumer to see everything really, really clearly.

Boo: I also feel it comes down to you as a person. I completely agree with Helen in terms of size of the business but also think it’s how you take to the software.

Some of our clients find that they prefer one to the other because of how their brain works and engages with the software, so it really is a personal preference as well.

From our prospective, Quickbooks and Xero are the best ones out there, but you have to go with one one that suits you, and the one that you’ll actually use.