Accounting is a very important industry, owing to the fact that every business, and every self-employed professional is required by law to submit a tax return and an accurate record of their accounts. Many businesses and individuals opt to work with accountants, or accounting firms in order to manage their financial records. These accountants and firms use certain apps and services to make their line of work easier. We spoke to a provider of managed IT services London accountants use to help them manage their software. The company, TechQuarters, stated that there are apps specific to the accounting trade, and broader business apps that can be leveraged by accountants.
Accounting Apps
As mentioned earlier, accountants and accounting companies use software that is designed for them. There are several different apps that provide accountants with the tools they need to make their work easier; when we asked TechQuarters about the IT support for accountants they provide, they discussed the various software solutions they have helped their clients manage – below are 5 of the top apps on the market:
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Xero
Xero is a web based accounting app that provides invoicing, inventory and expense management, project management, bill payment, payroll, and much more. As well as the web-app, it also has a mobile app, which makes it flexible in its usage.
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Sage Business Cloud Accounting
Sag Business Cloud Accounting is another excellent web-based accounting app. It is particularly well-suited for sole traders and self-employed professionals. Oftentimes, an accounting firm will help clients of this type setup their account with Sage, and then help them manage their accounts through this software.
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QuickBooks Online
QuickBooks Online is a browser-based accounting app. QuickBooks actually also offer a desktop accounting app as well, but many customers prefer the flexibility of the web-based app, instead. QuickBooks is very well-known for its reporting functions. It is most suitable for smaller accounting firms, as the multi-user plan for QuickBooks Online is up to 25 users.
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FreshBooks
FreshBooks is an online accounting app that is very popular among businesses. It is very useful for sole traders and freelance professionals, as well. The reason it is good for accounting firms is that it has a function that allows businesses to easily charge a retainer – a practice that is common for accountants.
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Zoho Books
Zoho Books is another popular option for sole traders, freelance professionals, and small start-up businesses. It is considered to be an entry-level accounting app, but its feature set are very respectable – it enables users to automate their workflows, track expenses, and manage inventories.
Other Apps
There are lots of apps out there which offer value to any type of business, whether it be through streamlining processes or offering new solutions to a business. While these types of apps are not specialised for an individual sector, they may be utilized in slightly different ways, depending on the industry of the company using them. According to TechQuarters, as an IT support company London businesses from many different industries and sectors use, they have seen first-hand the different ways that different businesses use software.
- Microsoft SharePoint
SharePoint is a web-based cloud file management application offered by Microsoft. It is highly configurable and is well known for its variety of uses within business. As a cloud-based storage and file management platform, it has many uses for accountants; for example, it can be used to track and consolidate things like tax filings, interco billings, and FS reports.
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Microsoft Word
Every professional will likely know about Microsoft Word – it is the ubiquitous word processing software, used to create and edit all kinds of documentation; which means it has infinite uses for accountants. When it comes to all the reporting that needs to be done in accounting, it makes sense to be using the most feature-dense word processor on the market.
