I need to set up 2 limited companies and a charity and have 4 users. I've been looking at Sage One Extra and Xero. Which of these would you recommend or is there something else out there? I came across a company called Online50 which purported to offer Sage 50 in an online version?
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QuickBooks Online
I have not used Sage One Extra only desktop Sage.
In terms of online accounting packages I have used Xero, FreeAgent and Wave but mostly use QuickBooks Online which I find very good.
Commercial and charity accounting
Unless someone knows better, none of the systems mentioned above have a dedicated charity format, ie you have to fiddle commercial bookkeeping and even then the reporting is inadquate.
For one system that does both commercial and proper SORP accounting for charities, have a look at Liberty Accounts.
aCloud
Thanks Martin - whilst I used to use Access Accounting a long time ago, I hadn't realised they'd got a Cloud solution.
I know Access accounts cater for NFP/Charities but there's nothing on the aCloud website that indicates they cater for Charity accounts. Do you know?
There are in fact hundreds of Charities using Xero, Quickbooks & Sage, but they are using and fiddling the commercial software and having to use year end journal entries to get the numbers in a near Charity format. What's needed though is (as with the expensive Sage add on) Charity format accounting and, most importantly, reporting, including SOFA and all the related notes.
As I said, Liberty is the only Cloud software I've seen that covers this.
Out of interest, this is one of the only Cloud accounting websites I've seen where, when you click on "Pricing" you see nothing, they will learn that this is a real turn off. Any idea what the basic charges are for a small company?