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Accounting Software

Accounting software, or Accountancy Software, is a tool that allows organisations to automate financial functions and transactions with modules that include accounts payable, accounts receivable, payroll, billing and general ledger. Integration of accounting software for small businesses provides comprehensive, real-time, on-demand analysis of an organisation's financial status. Accounting systems use stored financial information to ensure that companies submit tax forms on time. Additional benefits of accounting software include reduced costs by bringing accounting functions in-house. Accounting systems typically have customisable features for nonprofits, fund accounting, and purchase order management. Accountancy professionals and organisations looking for Accounting software may also be interested in Audit software, Billing and Invoicing software, Compliance software and Financial Reporting software. Find the best accounting software for your organisation in the UK

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Sage Intacct is a web-based, SaaS accounting and financial management software system designed for use by enterprise businesses. Learn more about Sage Intacct
Sage Intacct is a web-based, SaaS accounting and financial management software system designed for use by scale-up and enterprise businesses. Sage Intacct is the #1 modern cloud financial management solution, built by finance experts for finance professionals. It helps CFOs access integrated management and financial reports across their business entities in minutes not days to grow and drive their businesses. Learn more about Sage Intacct

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
Multi-award winning solution that brings intelligence to AP automation and empowers leaders to streamline their financial workflows. Learn more about Yooz
Yooz provides the smartest, most powerful and easiest-to-use cloud-based Purchase-to-Pay (P2P) automation solution. It delivers unmatched savings, speed and security with affordable zero-risk subscriptions to more than 5,000 customers and 300,000 users worldwide. Yooz’s unique solution leverages Artificial Intelligence and RPA technologies to deliver an amazing level of automation with extreme simplicity, traceability and end-to-end customizable features. It integrates seamlessly with more than 250 financial systems, exceeding any other solution on the market.Yooz is based in the US and Europe, with UK Office located in Woking – Surrey. Learn more about Yooz

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
DataSnipper is an Intelligent Automation Platform within Excel for Accounting that accelerates Audit and Finance teams' productivity. Learn more about DataSnipper
DataSnipper is an Intelligent Automation Platform within Excel for Accounting that accelerates Audit and Finance teams' productivity. DataSnipper helps to eliminate repetitive tasks, extract, cross-reference, and document the source of any audit and finance procedure. The Excel Add-in streamlines your work processes and helps you reach deadlines faster. Trusted by Deloitte, EY, KPMG, PwC, BDO and other market leaders. Active in 85+ countries and used by over 500.000 finance professionals. Learn more about DataSnipper

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
Acumatica Cloud ERP offers powerful finance and business intelligence tools to streamline company-wide accounting processes. Learn more about Acumatica Cloud ERP
Acumatica Cloud ERP offers powerful finance and business intelligence tools to streamline company-wide accounting processes. Track costs, control billing, and manage time/expenses with multi-currency support and powerful financial reports. Acumatica makes real-time financial data available anytime, anywhere, on any device. Harness this data to make informed accounting decisions, reduce workloads, close the books faster, accelerate growth, and transform how you do business in the digital economy. Learn more about Acumatica Cloud ERP

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
NetSuite accounting software simplifies the process of managing real-time data, such as: transactions, AP/AR, financial close and more. Learn more about NetSuite
NetSuite cloud accounting software simplifies the process of recording transactions, managing payables and receivables, collecting taxes and closing the books, and enables timely, accurate reporting and greater control of financial assets. With real-time access to financial data, you can quickly drill into details to resolve issues and generate statements and disclosures to comply with multiple regulatory financial compliance requirements, including ASC 606, GAAP, SOX and more. Learn more about NetSuite

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
Simple, easy-to-use accounting software to help you manage your business finance in a smart way! Learn more about Zoho Books
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 and stay on top of your business. Learn more about Zoho Books

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
An Intelligent finance platform that aligns CPM processes such as Financial Close & Consolidation, FP&A, Reporting & Analytics Learn more about OneStream
OneStream Software provides a market-leading intelligent finance platform that reduces the complexity of financial operations. OneStream unleashes the power of finance by unifying corporate performance management (CPM) processes such as financial close & consolidation, FP&A, Reporting, and Analytics through a single, extensible solution. We empower the enterprise with financial and operational insights to support faster and more informed decision-making - All in a cloud platform. Learn more about OneStream

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
BigTime is the engine empowering the greatest accounting firms on the planet to budget, track & bill their most important asset: time. Learn more about BigTime
Accounting firms need more than just a timesheet. They need a system that unifies budgeting, project planning/execution, team communication, task management, resource management, invoicing and project financials. BigTime gives you the tools your team needs to deliver billable work on time and on budget, giving our customers an average improvement of 25% in gross margins and a substantial increase in expansion and referral revenue. "We didn't have to compromise or change the way we operated." Learn more about BigTime

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
Offers up unbeatable bank synchronization, automated invoices, recurring billing management, reconciliations, and so much more. Learn more about Odoo
Manage daily accounting with ease and simplicity. Odoo offers a global view of the state of their business, as well as a list view, with greater visibility on document statuses and next activities. This fully integrated app has a wide array of in-depth reports and financial tools, such as double-entry bookkeeping, accounts receivable & payable, multi-currency management, tax calculation, unrealized gains & losses, automatic bank feed import, accrual & cash basis methods, and so much more. Learn more about Odoo

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
Serrala provides financial software solutions for optimized AP and AR automation. Learn more about Serrala Suite
Serrala is a global provider of financial software solutions for organizations seeking to optimize their financial operations. Serrala's cutting-edge AP automation and AR automation solutions are designed to streamline financial operations for businesses of all sizes. With features such as invoice processing, payment automation, and cash flow forecasting, these solutions enable businesses to reduce manual workloads, enhance efficiency, and improve cash flow management. Learn more about Serrala Suite

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
The leading accounting software for small businesses. Instant access to customer, vendor and employee information.
QuickBooks Desktop Enterprise (Save Up to 55%) is our most powerful accounting and business management solution, made for small to mid-sized product-based businesses. Features include inventory management, customizable reports, order fulfillment, job costing, advanced pricing controls, real-time financial dashboards and advanced tools to manage employees and payments. Enterprise enables up to 40 users, and has over 200 3rd party integrations to help deliver meaningful, additional capabilities. Learn more about QuickBooks Desktop Enterprise

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
QuickBooks Online is a small business accounting software and app that allows you to manage your business anywhere, anytime.
QuickBooks Online is a small business accounting software and app that allows you to manage your business anywhere, anytime. Used by over 7 million customers globally, QuickBooks provides smart tools for your business, yet is easy to use. You can organise your books, manage expenses, send invoices, track inventory, and even run payroll. With QuickBooks Online, you can get organised, save time, and even get paid fast by adding payment features. Best of all, you can try it for free for 30 days. Learn more about QuickBooks Online

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
An easy invoicing and accounting solution starting at £4.40/mth (first 6 mths). Join 24 million people who've already used FreshBooks.
FreshBooks Accounting ensures your business decisions are based on actual business data and insights. Set aside enough for tax time, learn the costs of running your business, find out if you have money to hire and confidently forecast your earnings. Try it free for 30 days, no credit card required. Learn more about FreshBooks

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
A powerful platform for tax, accounting and bookkeeping firms. Perfect for scaling your business and growing your customer base.
A powerful platform for tax, accounting, and bookkeeping firms. Perfect for scaling your business and growing your customer base: consolidate your tech stack and replace dozens of tools with a single, integrated hub. Automated workflows, mobile app and client portal, customizable CRM, unlimited secure file storage, e-signatures, proposals and engagement letters, messaging and more – at the price of one app. Learn more about TaxDome

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
Xero is a beautiful online accounting software solution for small businesses, sole traders, and accountants in any industry.
Xero is an award-winning online accounting software designed for small business owners and accountants, available on any computer or mobile device with an internet connection. Automate tasks like invoicing and reporting, and get a full picture of your business with up-to-date financial data. Xero accounting software allows you to connect to your bank so you can set up feeds from any number of bank accounts and reconcile bank transactions on a daily basis. Learn more about Xero

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
SAP Concur takes you beyond automation to a completely connected spend management solution that grows with your business
SAP Concur takes companies of all sizes and stages beyond automation to a completely connected spend management solution encompassing travel, expense, vendor invoice, compliance and risk. Our global expertise, industry-leading innovation and dynamic ecosystem of diverse partners and applications unlock powerful insights that help businesses reduce complexity and see spending clearly, so they can manage it proactively. Learn more about SAP Concur

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
Accounting tool that provides multi-monitor support and past due stamps through improved cash flow.
Accounting tool that provides multi-monitor support and past due stamps through improved cash flow. Learn more about QuickBooks Desktop Pro

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
Automate key invoicing & bookkeeping tasks and get more time for what you love with Wave’s small business software. Try for free today!
Sick of bookkeeping blues, cash flow woes, or tax time terror? With Wave’s small business software, you can automate the most tedious bookkeeping tasks, create professional invoices, get paid fast online, and simplify tax prep. Unlike other software, Wave offers easy-to-use bookkeeping tools that work together, all in one place, so there’s no need to endlessly google solutions or switch between software. Here’s more on what Wave can do for you: Get more time for what you love: Say bye-bye to manual data-entry by automatically importing and categorizing your bank transactions with our Pro Plan. Be the wiz of your biz: Make smart business decisions with helpful financial reports. Plus, track payments, view customer info, and manage cash flow with our dashboard and mobile app. Beat imposter syndrome: Always look and feel like a pro, now and as you grow. Wave is the only solution committed to offering plans for every business stage. Try Wave for free today! Learn more about Wave

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
Comprehensive DMS software for independent auto dealers with inventory tracking, customer database, credit reporting and forms.
Serving over 22,000 dealers, DealerCenter is the top-rated dealer management solution in the industry. DealerCenter centralizes your entire operation, making it easy to manage your dealership. Whether cash deals, Buy Here Pay Here or outside finance, DealerCenter has all the contracts and paperwork you need to get deals done quickly and accurately. DealerCenter also offers hosted websites, complete CRM, credit reports, auction run lists, powerful mobile solution and much more! Learn more about DealerCenter

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
QuickBooks is an end-to-end accounting software that can grow with your business.
QuickBooks Online Advanced is a cloud-based, all-in-one, accounting and business hub solution, designed for growing, small to mid-sized businesses. Get performance reporting with highly customizable tracking tools, automated workflows, and real-time revenue and cash flow management dashboards. Seamlessly integrate best-in-class Premium Apps like Salesforce and HubSpot (CRM), Bill.com (accounts payable), DocuSign, LeanLaw & more to expand your capabilities as your business needs grow. Learn more about QuickBooks Online Advanced

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
Today's back office is automated. Get rid of busy work, duplicate data entry, and mistakes. Simplify and accelerate your back office.
Our residential real estate solution brings all of your back office needs into a single cloud-based solution. No more entering data into system after system! Transaction management with eSignature, automatic commission calculations, next-day ACH payouts, accounting, agent onboarding, brokerage reporting, and more. Integrate with CRM, MLS, QuickBooks, and many more. See why Brokermint is trusted by thousands of brokerages nationwide. Learn more about Brokermint

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
BQE CORE transforms the way Professional Service firms invoice clients and manage financial reports, budgets and expenses.
It can take a significant amount of time to bill clients, extract financial reports and manage budgets and expenses. That’s why BQE Software created BQE CORE, an intuitive and flexible professional services automation solution that centralises the way you enter and use information. BQE CORE enables your firm to automate financial reports, budgets, billing, bank & credit card transaction downloads and batch updates which will save your hours of work each week. Learn more about BQE CORE Suite

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
Manage accounting and inventory for your SMB. Operate as a standalone accounting system or integrate with QuickBooks Online and Xero.
Cin7 Core integrates accounting and inventory management for your small to medium business. Operate as a standalone ERP accounting system or integrate with accounting software QuickBooks Online and Xero. Ideal for retail, wholesale, manufacturing, and food production businesses that have requirements to manage inventory levels. Automatically sync inventory transactions with your accounting system and avoid discrepancies between your stock levels and your balance sheet. Learn more about Cin7 Core

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
Zoho Invoice is a 100% free cloud invoicing solution designed to help small businesses with invoicing, expenses & online payments.
Zoho Invoice is a 100% free, online invoicing software for freelancers and small to medium enterprises (SMEs). Key features include project billing, time tracking, reporting, customizable templates, and a client portaI. Teams using Zoho Invoice can track estimates, convert them to invoices, and send reminders to clients to complete their outstanding payments. Additionally, users can create tasks, collect advance payments for projects, and keep track of their invoice history. Learn more about Zoho Invoice

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet
Application that simplifies the management of micro-enterprises (invoicing, accounting, remote declaration, productivity)
Abby is an application designed for auto-entrepreneurs that allows them to manage their business simply and efficiently. The application offers all the functionalities that an auto-entrepreneur needs to manage his activity in a simple and complete way: ● Monitoring of your budget. ● Complete invoicing module. ● Effortless accounting. ● Remote declaration of your social contributions to the Urssaf. ● Tracking your projects and clients. Synchronise, click, it's declared! Learn more about Abby

Features

  • Billing & Invoicing
  • Expense Tracking
  • Fund Accounting
  • Project Accounting
  • Purchase Order Management
  • Budgeting/Forecasting
  • Inventory Management
  • Tax Management
  • Payroll Management
  • Multi-Currency
  • Income & Balance Sheet

Accounting Software Buyers Guide

What is accounting software?

Accounting software for organisations in the UK helps users manage and automate financial functions and transactions with modules including accounts payable, accounts receivable, payroll, billing, and general ledger. Integrated applications for accounting programmes allow for comprehensive, real-time analysis of an organisation's financial status including cash flow and expense management. Accounting software is also known as bookkeeping software.

What are some of the benefits of accounting software?

The benefits of accounting software package are:

  • Cost savings: Outsourcing has been the traditional approach for managing small business accounting, which adds to the operational expenses of the business. Accounting software helps small businesses in the UK bring the accounting functions in-house, thereby reducing the total price tag.
  • Improved process efficiency: Accounting involves a lot of paperwork and manual data entry, which is time-consuming and can be prone to human error. By digitising financial paperwork, accounting programmes help UK small businesses reduce the time it takes to process financial transactions such as expense management, accounts payable, and accounts receivable. Moreover, accounting software ensures that there is no error in calculations or discrepancy in records.
  • Easier tax compliance: Tax management for small businesses also involves a lot of documentation and paperwork. Small businesses need to make sure that all their tax forms are submitted on time to avoid penalties due to delayed filings. Accounting software uses the financial and accounts information stored in the system, thereby making this process easier and free from human errors.

What are the typical features of accounting software?

The main features of accounting software include:

  • Accounts payable (AP): Automates invoice capture, approval management, and authorisation processes. The transaction information is reflected in the accounts payable and general ledger tables.
  • Accounts receivable (AR): Tracks customer credits related to payments and purchases. This information is reflected automatically on the general ledger.
  • Bank reconciliation: Matches "credits" and "debits" in an account to help businesses spot and correct discrepancies and missing entries in a record.
  • Financial reporting: Provides a graphical representation of data in accounting systems. These reports include sales reports, AP/AR, and cash flow analysis.
  • General ledger: Lists the accounts payable and accounts receivable information in a table. It also summarises assets, equity, expense, and revenue information for each account.
  • Billing and invoicing: Creates invoices based on customer records, prints and sends them to the customers, and records the information in the accounting system.
  • Expense tracking: Records the total expenses incurred in a business. Most products allow users to submit expenses by uploading bills from a mobile app.
  • Project accounting: Tracks different accounting attributes for a client-facing project, such as incurred costs, expenses, billable hours, and client payments.

What are important factors to consider when purchasing accounting software?

Things to consider when purchasing accounting software are:

  • Data security: An accounting system handles sensitive client and financial information, which makes them a target for hackers. That's why security should be a prime consideration when selecting accounting software. UK small businesses should ensure that their solution adheres to the necessary security standards, such as Extended Validation (EV) SSL and 256-bit Encryption.
  • Third-party integrations: Accounting software cannot work in isolation: it needs an ecosystem of other business applications. For example, integration with customer relationship management (CRM) software automatically pulls transactional records after payment is received from the client. Integration with an HR and payroll solution allows users to pull the information related to the payroll-related costs. Buyers should evaluate integration capabilities before making a purchase decision.

Relevant accounting software trends are:

  • Small businesses continue on the path of automation: In an attempt to reduce paperwork and minimise human errors, small businesses are looking for new ways to automate their accounting functions. The most recent development in this area is OCR (optical character recognition) technology, which allows users to scan physical documents and store their content in a digital format. As advancements in artificial intelligence and machine learning improve the accuracy of OCR, the adoption of this technology can be expected to increase further.
  • Small businesses want a visual representation of financial reports: Since around 65% of learning happens via visual content, buyers find that visual representation of financial reports an important consideration while shortlisting their accounting system. This is also driving small business accounting vendors to include stronger visualisation capabilities in their reporting modules.