When it comes to accounting software, there are numerous reliable options you can choose from. Andrew Jeffers presents you the top five for SMEs.
There are a few different options that you have available for small and medium businesses, when it comes to accounting software.
What we’re going to do is just go through the five major ones but with a little bit of detail. Keep in mind that the process of choosing an accounting software is quite personal. After all, it should suit your business’ needs.
Let’s get started with the newest entry in the market.
The new kid on the block is Xero. They’ve probably been around for five or six or even seven years. They offer about anything you could need for a SME.
This is a really good accounting package. It is also marketed very well and it’s incredibly easy to use. It’s 100% connected. Ideal for those who enjoy cloud accounting.
Most accountants have the ability to understand it, which is good. Although, it is the new kid on the block.
It has been around for 25 years. It’s a consistent product that has been evolving along the year. It’s currently a really good and solid pick.
They’ve also built a considerable user-base. A lot of people have been using it for many years and wouldn’t want anything else.
They’ve also got a cloud version and as we’ve said, cloud is always the best. They have real-time access to your account.
Quicken is a great product. It’s owned by an American company and it has been around for many years in Australia.
They’re really trying to buy out market share at the moment.
For those who want a complete accounting package, Quicken offers home and rental accounting solutions as well.
Reckon is the Australian version of the Quicken product. They always used to be together but now they have parted ways.
However, the guys at Reckon are still developing the software based on the original QuickBooks for the Australian market.
Reckon offers the most competitive and affordable plan on the market. You can also customize your plan according to your business needs.
SSASU is a great product and really keenly priced. It has been around for probably the last seven or eight years.
It is easy to use. It is functional and it has got data feeds. Additionally, it can probably provide just as much as MYOB or the other major player Xero.
This accounting software allows you to grow and plan your business ahead, with about everything you could ever need for your SME.
Which accounting software is the best for your business?
When it comes to choosing an accounting software for your business, as I said there are top five products. We’ve gone through Xero, MYOB, Quicken, Reckon and SSASU.
In my opinion, these products can deliver exactly what you need. However, there are some key things that you need to understand.
Does your existing accountant understand these products? If your answer is yes, then you should go with the one they understand best and the one that works well for you.
Secondly, you should ensure that there are enough apps out there that can connect to your software and provide extra services to help you run your business. It can make the difference later on.
Contact our team of accounting specialists to understand which software can benefit your company the most.