Looking to sort out your accounts before the new year? If you’re a small or growing business this isn’t always as simple as it sounds.
Luckily there are loads of services that can help you out with this. We’ve taken a look at one we think is maybe the best out there right now and broken it down, in our product review.
Sage Business Cloud Accounting
This is the cheaper option of the two, but it still packs an accounting punch that will be right for a lot of businesses.
Who is it for?
Micro, small and medium businesses. This is the best possible option for those just starting up, with a clear early year business plan that does not see immediate employee growth. As the business grows, you can always switch to Sage 50cloud Accounting, more on that later.
How much does it cost?
You can get this service from as little as £12 per month + VAT. Even better, Sage will cut your first 6 months down by 50% to £6 PLUS give you a 30 day free trial to see if the service delivers for you. We think that’s the kind of value for money that means it really is a no-risk investment for your business.
Sage Business Cloud Accounting makes quick work of the daily tasks you have to get right, so you can kiss goodbye to the mess of spreadsheets you had to deal with before. You can manage and control your accounting from anywhere, anytime – which means quick submission of taxes.
Sage Business Cloud Accounting offers bank-level security, so you can have complete peace of mind in the knowledge that all your confidential information is fully protected.
Integrated with your bank
You can connect your bank, which will cut down admin by up to 80% because bank data will be automatically matched up with your invoices. This gives you a clear and accurate overview of your current financial situation from a business standpoint and provides a foundation for cashflow forecasts. You know these are going to be super accurate because they are based on the latest data direct from your bank.
We love this super feature. You can give your accountant access to your Sage account so they can login securely and collaborate with you on your accounting without disrupting any of your data. This is such a simple feature but so helpful.
Sage 50cloud Accounting
This is the option you’ll want if you’re a slightly bigger business. It costs a little bit more but also opens a whole new world of accounting for small to growing businesses.
Who is it for?
This service is for small, medium and growing businesses with up to 50 employees. If your business needs are less complex you will be better off sticking to Sage Business Cloud Accounting.
How much does it cost?
There are three categories to choose from. Sage 50cloud Essentials is a simple desktop accounting solution with invoicing and cashflow management that will set you back £20 per month + VAT. You can only manage one company with it though. Sage 50cloud Standard is a powerful desktop accounting solution with in-depth stock and reporting that will cost you £60 per month + VAT. This lets you manage up to 10 companies. Finally, the top tier is Sage 50cloud Professional at £125 per month + VAT, which lets you manage unlimited companies.
When we say complete integration we really mean it. We’re really impressed with how smoothly Sage allows 50cloud Accounting allows you to put everything useful in one place. You can link directly to your bank account, which allows you to record sales and receipts in real time. That means all your invoicing, cash-flow, inventory, taxes and so much more can become almost automated and at the very least super easy to overview.
But it’s not just your bank, there is also secure and super smooth Microsoft Office 365 integration, which makes running your business that little bit easier. You can save time and work from wherever you want in the cloud, getting powerful financial reporting in Excel, the leader in its class.
With the simple and easy to use VAT tools you can quickly and easily calculate VAT, reconcile to only pay what you owe and automatically file returns securely online with HMRC. Sage 50cloud Accounting will always verify that you’re up to date with the latest VAT information and legislation, meaning this service keeps on top of everything so that you can focus on what really matters, running your business.
The real game changer here is that you can work seamlessly with Sage Pay which means you can easily and effectively manage payments coming into your business, regardless of the payment method. Sage Pay accepts all major payment types.
Sage Pay works perfectly with Sage 50cloud Accounting software, that means you have a one stop solution to manage all your business finances. Game changer, indeed.