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Free accounting software for small businesses?

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I've recently started my own Limited Company and I'm looking for a good accounting software, preferably available online. I was planning to start using Wave, but I just read that they won't be supporting MTD. Are there any other good and free accounting software available that supports MTD? 

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By daniel_
25th Jun 2019 15:04

There's Pandle and Quickfile which are both free and will both support MTD. I don't know if the MTD submission features are free as both have premium versions.

If your turnover is high enough to require VAT registration then paying for accounting software shouldn't be out of the question imo.

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By ireallyshouldknowthisbut
25th Jun 2019 16:12

"not supporting MTD" is a bit of a non-event.

Speak to your accountant about bridging software.

I would also make sure they are happy with your software choice, or you will waste a lot more than an annual license on reputable software used properly vs mucking about with low quality data clients have done themselves hoping to save a few pounds in not seeking advice upfront and using a substandard product.

NB the if you want free, excel is usually the way to go, and subject to your accountant's approval and formatting requirements.

In short, if you want to waste a lot of time and money, phaff about on your own for 6-12 months and only then seek proper advice. 9 times out of 10 this call with mainly consist of "why have you got a limited company? Your turnover is only £20k, if you spoke to me when you started you would have been a sole trader and saved £1k on our fees"

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By AnnAccountant
25th Jun 2019 18:52

I use Quickfile for my very basic practice accounts - though I pay as I am above the 'free use' transaction limit. Happy so far. Not filed a return under MTD yet. Ask me about that in a couple of weeks!

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By ohgoodgodno
26th Jun 2019 09:38

QuickFile is great for the money

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By JCresswellTax
26th Jun 2019 09:52

Get an RBS/Natwest bank account and get FreeAgent for free.

Also get an accountant to ask future questions like this one.

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Replying to JCresswellTax:
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By 356B
26th Jun 2019 16:34

Would an accountant ask it any better than the OP?

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Replying to JCresswellTax:
Hallerud at Easter
By DJKL
27th Jun 2019 13:44

Nothing up to now has ever been truly "free" from the Royal Bank- shake hands and count your fingers springs to mind.

Whilst eventually admitting mea cupla re the GRG I would ask, have they really changed their spots?

I suspect we will likely need to await the next banking crisis to see whether is it real remorse or mere crocodile tears?

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By John Wheeley
27th Jun 2019 10:52

I have been using Quickfile very successfully for 3 years now. It is free for small users at present.

https://www.quickfile.co.uk/home/pricing

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By John Wheeley
27th Jun 2019 10:32

I have been using Quickfile very successfully for 3 years. It supports MTD and is free for small users.

https://www.quickfile.co.uk/home/pricing

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By John Wheeley
27th Jun 2019 10:46

I have been using Quickfile very successfully for VAT returns for 3 years. Quickfile has been upgraded to support MTD and it is free for small users.

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By Charlie Carne
27th Jun 2019 13:35

I would support some of the other comments on here. If you have a limited company, then you NEED an accountant (unless you are one), as you may be making all sorts of incorrect decisions that a professional adviser will sort out BEFORE they become irreversible or expensive to solve. Yes, it will cost you to get that advice, but it will almost certainly be cheaper than trying to fix it after the event.

And to answer your original question: free software is worth every penny of its cost! This especially applies to accounting software.

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By Gillian Mill
27th Jun 2019 15:05

Lots of recommendations for Quickfile and I used to recommend it as well however I have a major problem with the bank reconciliation on it. You put in the end figure and match it up but then the client comes along and changes something. There is no warning and the bank rec suddenly doesn't balance. Does anyone else have this problem? I have several clients on it and for some it's a major problem.

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By clark.hall
27th Jun 2019 16:36

Personally I find Pandle a littler nicer to use than Quickfile. Clients seem to have more success adapting to Pandle too IMHO.

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By solent
28th Jun 2019 10:06

Adminsoft Accounts is free and promises MTD functionality. It has worked well for me over the last few years for my tiny limited company. The limited liability would be missed as a sole trader.

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