I have been using Xero for over a year now and it is excellent, the best software I have used. Not sure what the guy above is talking about regarding bank links and being written for another jurisdiction. Scaremongering.
Xero is quite expensive, but you get what you pay for. I would recommend it for bigger SMEs than sole traders and it has an excellent stock function. I ditched the Sage stock function as it was a nightmare.
thepayrollsite.co.uk is ok and cheap, but it looks cheap. It does the job though and very happy with it.
The thought of installing programmes and keeping data on to my local drive scares me now. Never again, keep it all in the cloud. Use Dropbox to save all your reports too and you should be sorted.
Audit threshold is checked on an annual basis, you can ignore the small/medium company issue.
Double check that 10% of shareholders have not requested an audit. Also, if the company has borrowings with a bank, sometimes audited accounts are required as part of the borrowing terms.
My answers
Xero and thepayrollsite.co.uk
I have been using Xero for over a year now and it is excellent, the best software I have used. Not sure what the guy above is talking about regarding bank links and being written for another jurisdiction. Scaremongering.
Xero is quite expensive, but you get what you pay for. I would recommend it for bigger SMEs than sole traders and it has an excellent stock function. I ditched the Sage stock function as it was a nightmare.
thepayrollsite.co.uk is ok and cheap, but it looks cheap. It does the job though and very happy with it.
The thought of installing programmes and keeping data on to my local drive scares me now. Never again, keep it all in the cloud. Use Dropbox to save all your reports too and you should be sorted.
Shareholders and bank
Audit threshold is checked on an annual basis, you can ignore the small/medium company issue.
Double check that 10% of shareholders have not requested an audit. Also, if the company has borrowings with a bank, sometimes audited accounts are required as part of the borrowing terms.