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Recommendations for Accounting software

Recommendations for Accounting software

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Hi, 

Looking for some advice/recommendations please.

Currently on Sage50.

Want to move to a System which includes the following or you can get adds on that does the following.

AP Automation

P2P approval flows e.g. emails links for approvals

Expenses automation e.g. ability to take pictures of receipts to compile an expenses claim

Stock management

Quotations

Sales invoicing

Ability to split down to department level in reporting

We are a small business, £3m moving to £5m next year. 22 employees.

Would like to keep costs down fairly low.

Thanks all in advance

Replies (12)

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By chrisjbrown
17th Nov 2021 14:40

I would recommend Xero as your base accounting system - we have migrated many multi million pound turnover businesses onto this platform and connected various apps.

There are various apps for each of your other requirements, so you would need to look at exactly what you need/what you don't need to ensure you get the right one. However these might get you started:

AP - Transferwise/Telleroo/Brightpay&Modulr for payroll
P2P - ApprovalMax
Expenses - Dext is a must. Pleo for company cards/expenses/petty cash
Stock - various but look at these: Dear/Unleashed/Cin7
Quotations/invoices/dept reporting - Xero can potentially do these at a basic level

Also the Xero app store is a great place to look at - https://apps.xero.com/uk. Happy to have a chat through and give you some pointers.

Chris

Thanks (2)
Replying to chrisjbrown:
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By bef82
17th Nov 2021 14:52

Thanks Chris,
I had a look at Xero and trialled it but the lack of reporting functionality really put me off.
We have a few layers beneath the P&L, e.g. department, category, region. I couldn't see anything in Xero that would accommodate this?
From memory, I thought I looked into this and was told there wasn't this functionality available?
Regards
Ben

Thanks (0)
paddle steamer
By DJKL
17th Nov 2021 15:12

Do consider how many users using /updating the system at the same time will be required and ability to scale software up as business grows.

Perhaps you ought to take some paid for advice or be prepared to spend a lot of time investigating.

We picked up industry specific software (investment property and lease management) a few years back, I possibly spent at least 30-40 hours investigating options in what was actually a pretty narrow pool of suppliers, you likely have a lot more to choose from.

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By johnt27
17th Nov 2021 15:14

The way to go with this is cloud. None of the main cloud vendors - Xero, QBO, Sage etc have decent stock management so you'd need to take on another app for that. Once you do that however, you lose the ability to automate some of the purchase ledger side processing.

Xero's reporting is probably the most powerful of the lot and you can use tracking to report at various levels, but there are limitations, and these features are replicated elsewhere. Again, taking this into another app may help, but there again the stock apps have very comprehensive reporting included so you may end up on a hybrid. The stock apps Chris has mentioned are the main players in the Xero marketplace, subject to their recent acquisition news, but their feature sets and pricing are wildly different. Cin7 now own Dear as well so how long that will remain a seperate product is difficult to say.

You need to get this properly scoped by someone who knows what they're doing as you will probably need to change/adapt some of your existing processes. This also ensures your expectations are met properly. A project like this easily starts at £5k, but anything involving stock tends to add complexity and you could end up with a starting price of £10k + VAT for scope, implementation, training etc.

Thanks (1)
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By paul.k2
17th Nov 2021 21:37

Hi Chris, the really important thing is to have a clear idea of what you want to achieve and what the key processes are. Take your time to develop the requirement. By all means look at some products.

In other words, on Monday you will have the ideal system, what does it do for you. Describe it to me.

Where do you need to achieve real improvements? There is no point in having a great Nominal, if SOP doesn't fulfil your operational needs or cannot generate the detailed NL analysis you need.

Identify what is good about your current processes that you want to retain or build upon.

You also need to be clear about the limitations you are working with. e.g. I am working on a definition that might exclude cloud options. This will be a problem as many of the main suppliers only offer cloud options.

Products such as Xero have application partners and they are a great place to find 'add-on' suppliers. But once you get to a certain size, I think a lot of the cheaper cloud options lack the flexibility that many companies need.

Traditional on-premise products like Sage 200 will come with lots or parameters that allow you to change how the software operates as you grow and develop as a business.

In other words, the technology should always follow the requirement.

Sorry if this turned into a sermon !!!

Paul Kelly
www.kellysolutions.co.uk

Thanks (0)
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By paul.k2
17th Nov 2021 21:37

Hi Chris, the really important thing is to have a clear idea of what you want to achieve and what the key processes are. Take your time to develop the requirement. By all means look at some products.

In other words, on Monday you will have the ideal system, what does it do for you. Describe it to me.

Where do you need to achieve real improvements? There is no point in having a great Nominal, if SOP doesn't fulfil your operational needs or cannot generate the detailed NL analysis you need.

Identify what is good about your current processes that you want to retain or build upon.

You also need to be clear about the limitations you are working with. e.g. I am working on a definition that might exclude cloud options. This will be a problem as many of the main suppliers only offer cloud options.

Products such as Xero have application partners and they are a great place to find 'add-on' suppliers. But once you get to a certain size, I think a lot of the cheaper cloud options lack the flexibility that many companies need.

Traditional on-premise products like Sage 200 will come with lots or parameters that allow you to change how the software operates as you grow and develop as a business.

In other words, the technology should always follow the requirement.

Sorry if this turned into a sermon !!!

Paul Kelly
www.kellysolutions.co.uk

Thanks (0)
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By jonathan.kempson
18th Nov 2021 09:27

Is there a particular reason for wanting to move away from Sage 50? It does some of the things that you list including: departmental reporting (albeit with some limitations); quotations; sales invoicing. You can get addons for most or all of the others eg Paperless for purchase invoice approval and automation.

Thanks (0)
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By agknight
18th Nov 2021 09:42

I think you should take a look at Liberty Accounts. Comprehensive stock system, quotes, invoicing, photo receipts, departmental analysis.
Worth a chat with them - direct line quick answer, 0800-170-1150.
Moneysoft for payroll.

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By williams lester accountants
18th Nov 2021 09:43

Have you looked at Xledger? https://xledger.com/uk/solution/. Seems to do most if not all of what you require.

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By raybackler
18th Nov 2021 10:13

I have used Liberty Accounts for Stock Management - it has multi-level bills of materials, works and purchase orders, production planning and purchase planning. The accounting and payroll are all fully integrated and it is all cloud based. They have been around a long time (pre-Xero) and the service is second to none.

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By Brend201
18th Nov 2021 11:13

I suggest that you have a look at AccountsIQ. I think it does everything that you are looking for. I'm a long-time user, although we don't use much of the functionality that you require. It has some irritating but relatively minor drawbacks but we are able to live with these. In fairness to them, they have had regular updates and enhancements to functionality over the years. The cost is not excessive compared to some of the bigger ERP systems.

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By TASG
25th Nov 2021 11:33

Xero doesn't do email links for approval AFAIK but does seem to tick all the other boxes.

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