Accounting software, like hardware, is now very powerful and comparatively inexpensive. Integrated software includes Sales, Purchase and Nominal Ledgers with Sales/Purchase Order Processing and Stock Control in a single suite of programs. Networked versions for multi-user use are generally more expensive than single-user versions. Most accounting is now done with Cloud Software.

Choosing an Accounting Package

It is necessary to consider your requirements and what you want to be able to do before buying a package. There are often different levels of functionality in different versions of a program. Consider both the ability to get data into the product and the reporting requirements that you have.

Online “cloud” based accounting packages is however fast becoming the norm, and you will not incur any upfront costs – simply pay a monthly fee for its use. These may have integrated payroll too if you have employees in your business.

If you are already using desktop-based accounting software, it is often possible to migrate to a cloud-based system at no cost.

The Government requires businesses to submit VAT information to HMRC quarterly as part of their “Making Tax Digital” project. This started in April 2019 and you should consider a computerised accounting package from the outset that enables you to comply with this new obligation. We can advise on the most suitable accounting software for your business.

Modular systems are made up of individual programs for each of the above functions, each of which is more powerful and flexible than the integrated systems. These are put together to form a total system for the larger business, usually on a network of several PC’s. However, cloud software often allows any number of users without having to install networks.