Accounting Software for a Startup Business

Hi Guys,

I'm a long time lurker and seldom poster.

I'm looking to start up a small business, and was wondering if any of you can recommend an accounting software for a one man army. A few that i'm interested in are Quickbooks, Xero , Zoho and Wave.

Wave is free, so maybe the features are not as rich. The others are paid subscriptions.

Since it's a one man army initially, I'm looking to do and track the bread and butter of a business. Software doesn't necessarily have to be free, but it would be nice :P Key points that all the above seem to offer are tracking of invoices/expenses, bank integration and automation and financial reporting. A ROBUST reminder system and automation is a must as i'm forgetful and will be trying to generate business, being far too busy with for the back office stuff.

Many thanks guys!

Comments

  • I've always heard great things about Xero.

    • Xero was actually the first that I researched. I hear that the data is theirs to keep once you end your subscription. Not a deal breaker though. I think they are all good, but I just wanted to get some first hand experience.

  • Xero is good, we use it at work. Simple and gets the job done

    Some others to consider would be Great Plains

  • +3

    For the first 5 years of OzBargain I use OpenOffice Calc :) Then Xero afterwards when accounts get more complicated. Xero is relatively expensive although it does save me time & money that I would otherwise pay an accountant.

    • +1

      For the first 5 years of OzBargain I use OpenOffice Calc…

      Well, funny you should mention it…I still use a spreadsheet for the lion's share of my private consultancy work.

      I was going to offer that but thought it might come across as disingenuous.

  • +1

    Haven't tried them but there's also Reckon and manager.io.

    • +1

      I use manager.io as a micro business. Free and does thr job

  • Thanks for the help guys. I'll narrow it down to Xero and Wave now.

  • Many years ago I used to sell, install and train an Aussie made Accounting System so I have had some experience with various packages.
    I find this to be good, has all that is needed and your data is stored locally so as with Xero and the likes it can still be used when no internet is available (main data access that is as it can be used locally as well) and no one else has access to your data.
    Worked for a company with Xero and personally it was crap and not very user friendly in the backend area.

    http://www.nchsoftware.com/invoice/index.html

    Start for invoicing then add accounts and inventory if reqiured

  • I use rounded, nice and simple to track day to day, photograph receipts for expenses, invoicing, It was free to try so made sure it did what I wanted first.

  • I went thru the same 1.5 years ago….
    Xero is too expensive.
    Wave is free but painful to use.
    Quickbooks just suit us as we started with the chespest package and with discount, was only $15/month from memory. But note that once upgrade you cant 'downgrade' to the lower version.

    • Hey Pumpkin - why was Wave painful to use?

      I don't think Quickbooks has payroll though.

      • Gee I forgot most of the details… from memory, input is clumsy (vs QB has recurring template), export has date format incompatible with Excel, layout is not reader-friendly….
        QB doesnt have payrolll? What about the higher version? Hard to believe! Anyhow this doesnt concern me, being a 3-man band.

      • Quickbooks definitely has payroll.

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