If you’re starting off small there are lots of free solutions available. FreeAgent is one many people use. As long as you have a bank account with key banks that they partner with, you have free access to their software. Through our partnership with Xero, however, we can offer you “partner edition” versions of Xero.
Many of our established customers use software solutions such as Xero, Quickbooks, or Sage. These packages offer valuable functionality that significantly improves monthly reporting and cash flow management.
Larger businesses have more complex requirements. Our go-to is Xledger because it has an impressive list of core functionality, including: tight tracking for budget holders; full bank integration; flexible, real-time reporting and analytics; a built in expense system for easy upload; superb capacity for automation.
Enhanced SME Requirements
Add-on apps are worth their weight in gold, however. We’ll take some of the add-ons available with Xero as an example:
- Project Management Apps – These help you to build up a quote and ensure you are billing in a profit margin. Good example: WorkFlowMax.
- Stock Inventory & Sales Apps – These help you to keep an eye on stock levels so you can pre-order in a timely fashion. Good example: Unleashed.
- Banking Apps – These enable you to pay direct from Xero rather than having to re-enter your payments on the banking site. Good example: Telleroo.
- Auto Entry Apps – These enable you to automate more admin processes, e.g. receiving invoices directly from suppliers into Xero. Good example: Hubdoc
- Profit & Loss Projection Apps – These enable businesses to spot problems lying ahead, e.g. a cash shortage. They also enable you to run scenarios to see the impact a decision will have, e.g. taking on a new shop. Good example: Fluidly.
Choose the right software
If you’d like to find out more about how Essendon Accounts & Tax can help you choose the right accounting software for your business, please get in touch.