Focus on company profit while automatically staying on top of your taxes and expenses.
Over 80,000 small businesses in the UK are using FreeAgent to manage their finances! Their award-winning cloud accounting software brings together invoicing, time tracking, expenses, MTD-compliant VAT, Self Assessment and more. The in-built Tax Timeline is a complete calendar of all your tax liabilities and ensures you'll never miss a tax deadline again.
Free – GBP £29.00/mo
NatWest, Royal Bank of Scotland and Ulster Bank NI business current account holders receive a free FreeAgent account for as long as they retain their bank account
Automation of tracking business tax and completing a tax return
Billing and invoicing works extremely well
Motivator reminder emails summarise your agenda for the week on Monday mornings – including (unbilled hours logged, payments to approve and bills to chase or pay)
A bit of learning curve in the beginning
Customer support is helpful
FreshBooks is an award-winning finance & accounting software and one of the best cloud solutions for small business owners. It is the current holder of FinancesOnline’s Best Accounting Software Award for 2019 and has the highest customer satisfaction rates of all similar apps in this category.
US $7.50/mo – US $25/mo
Custom Pricing for unlimited billable clients and specialized features
100% web-based, allowing you to access it from anywhere without loading any software on to your computer
Integrates with many other services
Ability to easily add and remove third party applications
Limited users – only one user per account
For a small business management tool, it is expensive
For some businesses there are too many features for simple accounting needs
Customized email templates & signatures are available (from Premim plan and up)
Removeal of FreshBooks branding from client emails only available for the highest plan (custom pricing)
Kashoo is a time-saving accounting application that automates bookkeeping tasks for small business owners. Using machine learning, Kashoo categorizes and reconciles expenses with bank and credit card transactions, and provides accurate, complete, and real-time reports in one-click.
Kashoo offers receipt and transaction matching as well as automatic reconciliation
Invoicing and general ledger
Multiple users for your business at no extra charge
Easy to use software for people who do not have an accounting background
Product is still being added to and developed
Oracle NetSuite provides real-time views into customer aging, invoice analyses, recurring invoices, configurable dashboards, reports, & KPI's. It helps save time & reduce errors by streamlining local and global tax compliance processes. NetSuite also automates post order transactions to general & AR ledgers with accurate tax calculations on each invoice.
Quote-based Plan – pricing not available on their website. Need to contact them to get pricing.
Business intelligence and reporting is excellent
Software grows allowing you to add new companies as your business grows
Reminders on the homepage & personalized dashboards are helpful
Ability to connect nearly any software to NetSuite via bundles and APIs
Excellent at handling inventory control, AP, AR, reporting, and invoicing
Product not particularly intuitive for first-time users
Many companies implement it incorrectly due to not understanding the product
Because the software is highly customizable, companies can become fatigued by too many decisions and possibilities
Too many unexpected error messages which are often unclear and force users to search the web for answers
CRM part of the software is too cumbersome to use
QuickBooks provides all the tools your business needs, all while being easy to use. You can organize your books, manage inventory, track sales, and even run payroll – all at the fraction of the cost. With QuickBooks Enterprise, you can save thousands of dollars a year vs. comparable solutions. Powerful and flexible, it also comes in editions designed to fit your specific needs. Take a free test drive today.
US $25/mo – US $150/mo
Freelancers/Self-Employeed US $15
Web version is very light with minimal lags
Saves one the trouble of loading software to your PC
Access to many templated reports which are helpful for weekly and monthly accounting tasks (Payroll, Vendor Payments, Sales, etc.)
Can be expensive for smaller businesses
Upgrade required to add more users
Customer service could be better
Has many features which may not be relevant to smaller businesses
Occasional syncing problems with banks and credit cards
Sage Accounting (formerly Sage One) is an online accounting software that gives you anytime, anywhere access to the most important small business essentials. It has features that help you manage your cashflow and send and track invoices all through the cloud or on a mobile app.
GBP £12/mo – GBP £30/mo
Features are easy to use even for non-accounting persons
Enables real-time sharing of files with clients and colleagues which eliminates the need to directly email invoices
Accessibility from a mobile device is helpful when on the go
Good customer support
Sometimes bank sync feed is slow
Handling of foreign currency bank transactions could be improved
Wave offers 100% free, real double-entry accounting for small businesses. As a cloud-based software, Wave allows you to access your data from anywhere, add unlimited collaborators and work on all of your businesses from a single login. Wave eliminates data-entry and puts the financial reports you need at your fingers tips. Your accounting is also seamlessly integrated with invoicing, receipt scanning, payment processing and payroll.
No transaction or billing limits
Add unlimited number of partners, collaborators or accountants
Run multiple businesses under one account
Mobile app available
Limited third-party app integrations
Higher fees for credit cards and ACH payments
Full-service payroll is limited to only 14 US states
No inventory management
Unintuitive reporting features
Inability to connect other systems like PayPal or Stripe
Designed for small business owners and accountants. Xero integrates with over 1,000 3rd-party business applications and supports multiple currencies. Business finances and cashflow are updated in real time while bank account transactions can be directly imported. Data is accessible through a single ledger, allowing accountants and clients to collaborate around finances with unlimited user logins. Available on any computer or mobile device with an internet connection.
GBP £10/mo – £30/mo
Integrates with many bank feeds & popular wallets/fintechs like PayPal, Payoneer & TransferWise
Accounts are always up to date
Multi-user support from the smallest plan
Inventory management needs improvement
ZipBooks is modern accounting, invoicing, and time tracking software for small businesses, contractors and accountants. ZipBooks makes managing your business simpler. Get paid with credit cards or Paypal easily. Powerful, easy-to-use reports, industry best practices, and smart recommendations from ZipBooks help you make even smarter decisions.
Free – US $35/mo
Custom pricing for Accountant plan
Easy to use and very user friendly
Flexible pricing offers
Limited customer support
Zoho Books is an online accounting software that allows you to easily manage the money flowing in and out of your business. Manage your customers and invoices, while keeping expenses in check. Record, monitor and reconcile your bank accounts and transactions, and collaborate with your accountant in real-time. Most importantly, Zoho Books helps you make better, more informed decisions for your business.
Free (For businesses with turnover <50K USD per annum) – €36/Organization/Mo
Good for new and small businesses
Supports advanced accounting functionality
Ability to create workflows
Ease of creating invoices
Automated report generation and exports
Software can be accessed online from any device
Security control system
The integration for Amazon Seller Central needs improvement
UX for clients needs improvement
PayPal transactions do not include PayPal Fees