Cotton Accountancy Services Limited uses cloud accounting software. This offers the following benefits:
- Access to your accounts and other business information at any time and anywhere from any internet-enabled device:
import scans of receipts and invoices from home;
check the latest financials just before your meeting.
- Cost-effective software that is easy to set up and use;
- All users of your accounts can see the same figures, so you and your accountant are on the same page;
- Safety of data is ensured through encryption and top security surveillance. There is no need to install updates because the software is in the cloud.
We offer a range of software products so we can find the perfect solution for your business.
We recommend Xero for small limited companies and sole traders. It is our preferred software provider, founded in 2006 and listed on the New Zealand stock exchange. Xero has designed its accounting software purely for the cloud, being a relatively young company. They have over 300,000 customers worldwide.
There are three different levels of service available:
1. Starter – This package offers bank feeds, and there is no limit to the number of users per company. There is a limit to the number of invoices that can be raised and bills that can be paid on this package – just 5 of each per month. A great package for businesses with a low number of transactions.
2. Standard – There is no limit to the number of transactions that can be made and there is more storage available.
3. Premium – This offers more storage and multi-currency.
Follow this link to the Xero website: www.xero.com
FreeAgent, online accounting software for small businesses and freelancers
1. Easy-to-use accounting software
Designed specifically for small businesses and freelancers FreeAgent makes it simple to stay on top of your day-to-day bookkeeping, whilst working alongside our team of qualified accountants to ensure that you receive the best tax planning and business advice.
FreeAgent is completely web-based so there's nothing to download, update, or install on your computer and you can access it from anywhere you have an internet connection. Your data is safely backed-up and FreeAgent uses the same level of encryption to talk to your computer as banks use, they even store your data in a former nuclear bunker!
2. FreeAgent supports your bookkeeping and accounting:
- Create professional looking estimates and invoices, send then chase payment automatically
- Easy reconciliation of your bank transactions with automated bank feeds into your FreeAgent account
- Effortless expenses management
- Run monthly payroll and file RTI directly to HMRC
- Manage projects, track time and generate timesheet reports
- Submit your VAT return directly to HMRC through FreeAgent
FreeAgent is also optimised for mobile so you can access your accounts when you’re on the move. There’s nothing to download — just log in to FreeAgent on your phone to get going.
FreeAgent gives you a real-time overview of your business finances making it easy for you to track your cash flow and other important financial aspects of your business in real-time.
There are no restrictions on the number of transactions you can process in FreeAgent. You can also choose to give access to as many people as necessary for your business. As your accountants we’ll also have access, which means that we can deliver instant, better and more relevant advice on an up-to-date set of figures.
We think Exact is great for limited companies. Exact is a top 25 European software provider, and has been around for 30 years. The online offering is used by 145,000 companies worldwide. One of the great things about Exact is that even the starter package includes a CRM (Customer Relationship Management) module.
There are three different levels of service available for SMEs:
1. Starter – this is perfect for small businesses and sole traders. The accountant looks after the accounts and tax returns, but you have 24 hour access to your financial data. You create your invoices online and upload receipts to the software. The accountant provides business advice after preparing your monthly accounts. Your key benefit is that your time is freed up from the accounts to focus on growing and managing your business.
2. Accounting Basic – This package includes a management information dashboard. The fee includes 3 users, automated bank feeds, and full access to your company accounts. You can perform all the bookkeeping yourself and there is an electronic VAT return capability.
3. Accounting Advanced – In addition to the functionality of the Basic package the fee includes 5 users, multiple currencies, and budgeting.
For more information on Exact online please follow the link: http://www.exactonline.co.uk