If every business owner was honest, bookkeeping isn’t the most exciting part of running a business and generally is at the bottom of the “to do” list however, it is arguably one of the most important. With the right bookkeeping software, managing your books doesn’t have to be a headache.
There are a lot of options for bookkeeping software out there and picking the right one can feel overwhelming – you want something that fits with your business, is easy to use and won’t outgrow you in three months. Don’t worry – we have broken it down for you.
AMR’s top bookkeeping software options
1. Xero Review: Best for growing businesses
Xero is ranked at the top of our list for a reason. Over the past 4+ years we have switched our allegiance from Sage to Xero mainly because of its cloud-based access as well as it’s user-friendly interface with seamless updates and improvements.
- Best for: Growing businesses, those with multiple currencies and payroll.
- Why we like it: Xero shines as it’s more intuitive and easier to navigate with a clean interface and unlimited users. It’s especially good for collaboration with marketplace applications and is packed with features.
- Downside: The learning curve can be steeper than QuickBooks if you’re a beginner.
2. QuickBooks Review: Best for SMEs
We can fully understand why businesses choose QuickBooks, it’s a great cloud-based software. For bookkeeping professionals however, it is not as user friendly as Xero.
- Best for: Most small to medium businesses.
- Why we like it: QuickBooks is the industry standard for a reason. It integrates well and has many features from invoicing to payroll to tax preparation.
- Downside: Can get pricey as you scale or add features and has limitations on the number of users for the cheaper packages.
3. Sage Review: Best for Larger Companies
For many years Sage has been the industry leader for bookkeeping software and was our software of choice. We feel that Sage desktop exceeds Sage Online for its functionality, however both are more expensive than the two above.
Sage desktop offers the traditional desktop experience with the need for on-premises data storage and is easier to navigate than Sage online.
- Best for: Sage desktop is best for larger companies and great for inventory tracking.
- Why we like it: Ease of use and familiarity as it was a market leader for many years.
- Downside: Harder to correct errors and the requirement for backups to be taken which can be timely based on the level of transactions.
How do you choose the right bookkeeping software?
Firstly, you need to create a checklist of what your needs are and what you are looking for from your bookkeeping software. Use our quick guide below to give you some ideas and help narrow down your priorities.
- Know your business size?
- What features do you need – what are the essentials?
- What’s your budget?
- Do you need to collaborate with another software?
- Do you already use other tools?
Tips for choosing bookkeeping software
Think about your business in 5 to 10 years and where you want to be – consider whether the software you choose now will still be able to support you then.
Don’t be tempted to pay extra for features that you just won’t use and watch out for extra costs for add ons, multiple users etc.
Start with your biggest pain points and choose a software that solves those first.
If you can trial the software for free then do so.
Conclusion
The right software should feel like a helpful team member and there is no one size fits all. AMR have experience in the different software’s and can help guide you to finding the right one, along with helping to migrate your existing records over and training you on how to use your new software. Please get in touch with us if you have any questions and to see whether we can help match you with the best bookkeeping software for your business.
