There are a few different options that you have available when it comes to accounting software. Shuriken CEO Andrew Jeffers reviews the top five accounting tools for small to medium size business owners.
The new kid around the block: Xero. They have been around probably 5-6 years, maybe even 7 years. It is a good accounting package and very easy to use. The best thing about Xero is that it is 100% connected and most accountants have the ability to understand it.
Being the “new kid around the block”, you would expect it to stutter. But its user experience is great, making it a recommended product for both small and medium size business owners.
- Free trial: Yes
- Price: from $25-60 per month
- Payroll included, available for one employee
- Mobile app for iOS available
- Offers free data migration service if you migrate from Reckon or MYOB
MYOB has been around for 25 years. It’s a really good product!
It is a solid tool and a lot of people have been using it for many, many years. MYOB also offer a cloud version (and can we agree cloud is always a good idea), which allows you real time access to your accounting.
- Free trial: yes, 30 days
- Price: from $35 per month
- Numerous reports available in the application
- Easy report function
- Mobile app available, allows you to send invoices and receive payments
Quicken is a great product, owned by an American company. It has been around for a lot of years in Australia, though, so they are entirely adapted to the Australian business requirements.
They are really trying to buy up market here in Australia.
- Free trial: not available, but they do have a 60 days money back guarantee
- Price: from $29.99 on the Starter Edition
- Mobile app available
- Allows you to create a budget and manage your bills
As Andrew Jeffers says, “Quicken, Reckon, I always get confused.”
But Reckon is an Australian version of the Quicken product. They used to be together and the guys at Reckon are still developing the software based on the original Quickbooks for the Australian market.
- Free trial: Yes – 30 days
- Price: Between $5 and $30 per month depending on features
- Has a easy to use mobile app
Saasu is a great product and really keenly priced. It has been around for probably the last 7 or 8 years. It is easy to use, it is functional, it has data feeds and it can probably provide just as much as MYOB or the other major player, Xero.
- Free trail: yes
- Price: from $15 per month
- Supports payroll, bank feeds and inventory management
- Mobile application available
So which one is a good fit for you?
When you come to choosing an accounting software for your business, they are the top five. We have gone through Xero, MYOB, Quicken, Reckon and Saasu.
[ctt template=”9″ link=”T6Kd3″ via=”no” ]When choosing an accounting software for your business, these are top five: Xero, MYOB, Quicken, Reckon and Saasu.[/ctt]
What I really would say is most of these products can deliver exactly what you need. There are some key things you need to understand:
- Does your existing accountant understand these products? Go with the one that they understand and the one that works best for you.
- The second thing is, make sure that there are enough apps out there that can connect to it, that can provide extra services and extra abilities to help you run your business.
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