Cloud accounting software for start up businesses

All businesses have to keep records of their income and expenditure. If the business is a limited company they have to abide by the rules of the Companies Act. Just because a business is trading as a sole trader or partnership it doesn’t preclude you from keeping proper records. HMRC require all businesses to keep proper records and will penalise if your records are not adequate.

All isn’t lost there is plenty of entry level cloud solutions. Quickfile is the simplest great for contractors or consultancy type businesses. Freeagent and Freshbooks are favoured by creative style businesses. Then we have the Kashflow, Xero and Quickbooks being the major players in the UK markets. Sage are now beginning to recognise they are losing clients to the big three. New entrant to the UK market is Exact Business solutions.

When choosing a cloud solution watch out for the apps the provider support. They may not always be compatible. [table id=21 /]