When it comes to choosing accounting packages for medium-sized businesses, it’s hard to narrow it down. While some businesses prefer to use Sage accounting software, others will praise QuickBooks support or Xero cloud accounting.
From performing routine bookkeeping tasks to creating in-depth financial reports, the right accounting software can make running your business quicker and easier than ever before.
There’s no one-size-fits-all solution – the truth is that the best software for you depends on your unique business needs. Here’s how our three favourite packages compare.
Sage Intacct.
Sage offers two software packages for medium-sized businesses: Sage Intacct and the more stripped-down Sage Intacct Starter Edition.
Among other features, businesses using Sage Intacct will benefit from:
- Streamlined workflows and automated invoicing features that make financial processes faster and more efficient.
- Intuitive dashboards which enable you to easily create and access a wide range of financial reports.
- Additional modules like inventory management and project accounting so you can keep adding features as your business grows.
- Flexible features suitable for a variety of industries including financial services, healthcare, hospitality and nonprofits.
This Sage accounting software package is designed with medium-sized businesses in mind and may be the best option if you have growth ambitions.
Intuit QuickBooks.
QuickBooks’ simple, user-friendly software makes accounting easy for businesses of any size. The best accounting packages for medium-sized businesses are QuickBooks Pro (£32/mo) and QuickBooks Advanced (£70/mo).
QuickBooks Pro users can:
- Manage taxes with minimal effort and submit returns with Making Tax Digital-compatible software.
- Track stock to see what’s selling and get notifications when stock runs low.
- Get support with using the software from the hands-on QuickBooks support team.
- Add payroll from £2/mo, automating the process to ensure employees get paid on time, every time.
In addition to this, QuickBooks Advanced customers can benefit from:
- Advanced functionality, from managing employee expenses to running advanced reports and automated workflows.
- Working with others by giving up to 25 users access to the same data.
All Quickbooks software packages have an optional free trial and a no-fee cancellation policy, meaning you can try it out before fully committing.
Xero.
With its intuitive interface and prices starting from £7 a month, Xero cloud accounting is popular with new businesses – but established businesses can access additional features with Xero Ultimate.
For £49 a month, Xero Ultimate customers can:
- Do business internationally with multi-currency accounting.
- Keep financials up to date by reconciling bank statements in bulk.
- Upgrade to Analytics Plus to check financial health, view future cashflow and easily track metrics.
Instead of using Xero Ultimate, some businesses may decide to enhance a simpler Xero plan by paying for optional add-ons including:
- Automated online payroll
- Simplified batch payments
- Automated CIS returns
- Project tracking
Customers can also access the Xero app store to connect with a huge range of compatible apps. These extensive customization options make Xero a great option for businesses with more complex needs.
Picking the right software for your business.
The best technology for your business might not be immediately obvious – but our experts at Diamond Outsourcing can talk you through your options. While Sage, Quickbooks and Xero are among our favourite software providers, there are many great accounting packages for medium-sized businesses.
We have experience with almost every accounting software package, and can integrate your preferred software into your business seamlessly. When you work with Diamond Outsourcing, we work with your systems, so you don’t have to change a thing.
Get in touch to find out how our outsourced accountants can help you get the most out of your accounting software.