Cloud accounting software is not just an essential tool for modern business owners; it’s the central hub that connects all aspects of your organisation, from stock systems to CRM solutions. In this article, we’ll explore some of the top cloud accounting software options available, providing you with our honest review to help you make the best choice for your business.
What is cloud accounting software?
Cloud accounting software is a sophisticated online platform that digitises your business’s financial information. This allows you to access and manage your financial data in real-time from any device with an internet connection—even your smartphone. More than just handling financial reports and payslips, this software acts as a conduit, seamlessly integrating with your entire app stack, from inventory management systems to customer relationship management (CRM) tools.
Why it’s a game changer
The true power of cloud accounting software lies in its ability to unify various business processes. By connecting with different systems, such as your stock management and CRM, it ensures that all parts of your business are communicating effectively. This integration enables a holistic view of your operations, facilitating better decision-making and enhanced efficiency.
The benefits of cloud-based solutions
Using cloud accounting software offers two significant advantages:
- Live data: Your financial data is always up-to-date, allowing your team to collaborate effectively using the most current figures.
- Accessibility: Work from anywhere, anytime. Cloud technology is not only flexible but also secure, ensuring that your data is protected at all times.
By the end of this article, you should have a clearer understanding of how cloud accounting software can serve as the backbone of your business technology infrastructure. We’re here to help you build a comprehensive system that not only simplifies your financial management but also integrates seamlessly with your entire business operation. Let’s find the perfect solution to enhance your business strategy and drive growth.
Which cloud accounting software is right for you?
Xero
Xero is a great choice for most businesses, and is one of our favourite providers. Easy to use and intuitive, it’s a very user-friendly software and a great option for those new to accounting software.
Its entry-level plan is affordable, although suitable to only the smallest businesses and freelancers who only need to send 20 invoices and sort 5 bills per month.
But any plan offers a great number of tools that you can’t do without, from financial reporting, document management, payroll, time tracking and automated bank reconciliation. You also get unlimited users on all plans.
Xero can also integrate with an impressive number of apps, including things like stock management, point of sale and project management tools. You can also easily connect Xero to online sales platforms like Shopify.
Sage 50
Another favourite of ours, Sage is admittedly rather similar to Xero simply because it is trying to solve the same problems that Xero is. They have similar features, and benefits and are both reasonably priced. Sage also offers integration with a range of apps, just like Xero.
However, while Xero is predominately used by smaller businesses, Sage caters for both small businesses and larger firms. It does this through Sage 200, which is a business finance management solution that follows a modular approach to manage complex financial processes.
So, whether you go for Xero or Sage largely depends on preference – unless your needs are greater and more specific. In that case, Sage may suit you just a bit better.
Quickbooks
Quickbooks is good but is generally more focused on micro businesses. It is also a cheaper option if you only need the basics. In other words, if you’re a freelancer or a very small business, Quickbooks could be for you.
At Langdowns DFK, our expertise in Xero and Sage allows us to provide enhanced support and expert guidance, ensuring that clients using these platforms receive the most tailored and efficient service possible. If you’re already with us, or considering a partnership, opting for either of these software options will perfectly align with your business needs.
However, we recognise that as businesses grow, their needs evolve. This is why it’s crucial for your accountant to have a deep understanding of your business, including your specific requirements, key performance indicators (KPIs), and primary focuses. There may be instances where a more critical piece of software becomes necessary for your business operations. In such cases, it is essential that your accounting software integrates seamlessly with these pivotal systems.
Choosing the right cloud system
Selecting the right cloud accounting system is not a one-size-fits-all decision. At Langdowns DFK, we’re committed to understanding the unique aspects of your business to recommend a cloud solution that not only fits your current operations but also supports your growth and adapts to your evolving needs.
Get in touch with us for bespoke advice that’s tailored to your specific situation. We’re here to help you navigate the complex landscape of business solutions, ensuring that your accounting software complements and enhances your wider business strategy.
