RedGage

For small businesses, making every aspect of internal systems as streamlined and efficient as possible is an important part of succeeding. Finding a comfortable ground between shelling out for essential services and doing everything yourself can be tricky, but approaching all aspects of managing small business growth in this way is important.

I know because I’ve been in this situation many times, having to decide between paying out for a full-blown accountant and finding the time to manage your own books. Thankfully, there are alternatives out there in the form of cloud-based accounting services; these mainly help small businesses without access to major resources continue operating.

There are many online accounting services available to small businesses, but how do you know which one if right for you? I’m going to be exploring some of the best options on the market today and how they can benefit your business.

Xero

In terms of flexibility, Xero gives you the widest scope to create reports tailored to unique requirements, hence its consideration as one of the best cloud accounting services on the market. Its complexity has made it a favourite amongst career accountants, but no so much for those seeking an easier approach to managing the books.

Xero accounting is made easy with a range of features such as multi-platform support on iOS and Android, as well as desktop support. Xero also benefits from excellent ongoing support, meaning you’ll have access to a wealth of new features even years down the line.

 Clear Books

The award-winning Clear Books offers the ultimate accounting package, with no restrictions on data usage or formatting across multiple platforms, as well as an excellent pricing plan. Moving beyond these limitations has made Clear Books exceedingly popular with all types of small businesses.

To its advantage, Clear Books also has one of the most robust mobile accounting services currently on the market, with the same level of support, development, and intuitive accounting solutions shared between both mobile and desktop.

FreeAgent

If you’re looking for an online accounting programme which puts the emphasis on client-side support, FreeAgent accounting may be perfect for you. The service makes assimilating client details and accounts easy, as well as offering cross-platform support and the ability to transpose information from Microsoft Excel; so if you’ve been managing your accounts bare-bone through Excel, FreeAgent makes it easy to switch to online accounting.

From a small business accountant perspective, FreeAgent makes life easier by providing prompt reminders on VAT and RTI returns, including how much you owe and when it’s due. There’s also an option for self-assessment tax returns, meaning it’s also great for freelancers.

KashFlow

KashFlow offers a robust yet easy-to-manage accounting software, perfect for those aren’t career accountants, but also complex enough for dedicated bookkeepers to get great value from. The service also offers offline syncing so you can manage your accounts without internet access.

KashFlow users also benefit from a range of free-to-use accounting resources, including free 24 hour support, adaptable client-side templates, and automated invoicing for maintaining better client relationships. 

Kashoo

Out of the preceding list, Kashoo probably takes the most simplistic approach to online bookkeeping, reinforced by its minimal user interface which and easier approach to collaborative accounting.

Whilst still a firm contender, Kashoo feels relatively new and perhaps needs a bit more time to mature before it can start taking on the likes of Xero and FreeAgent. With a few more years weathered and some tweaks to the user experience, Kashoo could handle much more complex processing and ultimately be suitable for all types of small business.

Clear Books