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The Best Cloud Bookkeeping Software

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The GoCardless content team comprises a group of subject-matter experts in multiple fields from across GoCardless. The authors and reviewers work in the sales, marketing, legal, and finance departments. All have in-depth knowledge and experience in various aspects of payment scheme technology and the operating rules applicable to each. The team holds expertise in the well-established payment schemes such as UK Direct Debit, the European SEPA scheme, and the US ACH scheme, as well as in schemes operating in Scandinavia, Australia, and New Zealand. See full bio

Last editedOct 20222 min read

With the rollout of HMRC’s Making Tax Digital program, businesses will be required to keep and submit accurate digital accounting records. Yet there are plentiful benefits to bookkeeping in the cloud apart from tax administration, and the best cloud bookkeeping software makes it easier than ever.

Why do you need cloud bookkeeping software?

The best cloud bookkeeping software covers all the everyday accounting and invoicing tasks your business must complete. This includes tasks such as:

Creating and submitting invoices
Tracking income and expenses
Tracking work hours
Payroll processing
Creating financial reports
Generating financial forecasts
Organising paperwork for tax purposes

The major benefit of doing this in the cloud is that you and your employees can access all the important data from any location, anytime. There’s no need to physically go into the office to use a company laptop, and data is automatically saved in the cloud with regular updates.

The best cloud bookkeeping software

While there are numerous accounting products on the market, the following software successfully blends user-friendliness with a range of key features.

Xero

Xero is one of the most popular cloud bookkeeping tools for small businesses, with affordable tiered pricing plans that make it suitable for freelancers and larger enterprises alike. It can handle unlimited users across multiple devices, supporting a multitude of integrations to streamline your workflow. Features include time tracking, profitability analysis, and financial reporting. Users can create and issue invoices, while keeping detailed customer records.

Sage 50cloud

Another popular choice is Sage 50cloud, which can be used either remotely in the cloud or on your desktop computer. Like other Sage products, the 50cloud tool offers a bevy of features to help with financial reporting as well as income and expense tracking. Create custom invoices using a selection of templates, process payroll, and automate your billing process with your choice of integrations. This software is ideal for small business owners without lots of bookkeeping experience, because it’s easy to use with comprehensive support.

Intuit QuickBooks

Designed for small businesses, QuickBooks makes it easy to access your files from any device, at any time. You can track inventory, project profitability, and working hours as well as all income and expenses. These records are compiled into straightforward financial reports to keep all accounting books in order. QuickBooks also enables invoicing, and like others on this list comes with a selection of tiered pricing plans to grow along with your business.

Zoho Books

Today’s businesses use a variety of different tools to manage their accounts, and one of Zoho Books’ prime features is its ability to integrate with a multitude of other platforms. This means you can join up your CRM, sales, billing, and other systems from a central location.Zoho comes with a mobile app for on-the-go bookkeeping as you track your expenses and transactions. When it comes to invoicing, you can generate professional invoices in different languages and currencies for cross-border transactions.

Clear Books

Cloud-based Clear Books makes it easy to create and send invoices directly to your customers, using a selection of professional templates. The software also tracks business bills and employee expenses, keeping all records organised for HMRC. Clear Books generates automatic financial reports as well as Making Tax Digital VAT returns. Matching features ensure your bank transactions align with invoices and purchases, so that you don’t miss any details.

GoCardless integrates with over 350 partners, including all cloud bookkeeping software mentioned above. This means you can start using it straight away to collect direct debit payments directly from customer bank accounts, with GoCardless positioned right in your workflow. It’s easy to set up and cost-effective whether you accept recurring or one-off payments, with all records accounted for.

We can help

GoCardless is a global payments solution that helps you automate payment collection, cutting down on the amount of financial admin your team needs to deal with. Find out how GoCardless can help you with one-off or recurring payments.