Here at Itas Solutions, we’re big fans of cloud accounting software. It means you don’t have to have to invest in your own servers and your remote team and easily login from those working from home days. Plus, it’s constantly backed up in real time.
Additionally, cloud software requires less upkeep and backups than traditional software does, thus decreasing the cost of ownership while allowing you to focus on core business operations.
Here we look at the top 3 cloud accounting solutions for medium businesses:
- Sage Intacct
- Xero
- QuickBooks
Sage Intacct
Sage Intacct is a cloud-based accounting software suitable for many industries and businesses. Its user-friendly interface makes learning the program effortless, plus you can customise your dashboard and reports according to individual needs.
The company offers a selection of add-ons tailored to your individual needs. These upgrades are intended to assist in growing your business and improving performance levels.
Sage Intacct makes accounts receivable and order management simple with its automated features, saving you both time and money while guaranteeing that all customer requests are handled effectively. Plus, the system helps manage inventory levels and pricing structures.
Intacct’s purchasing module will simplify your processes and enable accurate purchase quote comparisons and price breaks. Plus, you can view customisable, easy-to-understand dashboards for better budgeting and planning.
Project management with Intuitive can also be simplified. Its customisable report templates are ideal for sales tracking and performance evaluation, which can be further tailored to suit the current requirements of the user.
This software also offers security and data protection. It has a robust database system to prevent viruses or hackers from accessing your information. It can segment users into profiles which will restrict their access to certain features and actions.
This software is ideal for medium sized businesses. It provides various cloud services and has a customer support team available 24/7 via live chat or email. You can upgrade to the higher level of service for faster response times and additional benefits.
Xero
Xero is a cloud accounting solution for small to mid-sized businesses that require a comprehensive solution. It boasts an intuitive user interface and plenty of tools for automating, invoicing, and reporting. Plus, with unlimited users and flexible permission levels it makes Xero ideal even for enterprises with multiple employees and budgets.
Cloud accounting software applications like Xero are one of the world’s most popular choices. Their powerful automation and reporting features enable you to run your business faster and more efficiently, plus they provide numerous business and user resources like free training videos, guides, and infographics.
The Xero dashboard gives you a comprehensive financial view of your business. It displays information such as total cash in and out, outstanding invoices and overdue bills so that you can assess how well your operations are running and take steps to improve them.
However, we found there were many drawbacks to using Xero, such as:
- A steep learning curve
- Mediocre customer service
- Cost structure can be high
- It is simple to install, however it takes some time to get used to
- Prices have recently increased, and they stopped including integrated payroll with plans
- Due to the lack of an integrated “Debtor Chasing” feature, organisations must manually follow up on outstanding invoices.
However, as with most accounting software packages, Xero provides a wealth of ‘how-to’ articles, training modules and infographics that can assist you in troubleshooting any issues that may arise. You’ll find them all in the Xero Central help centre which is accessible 24/7 online.
QuickBooks Online
QuickBooks Online is a cloud-based accounting program that offers numerous features to assist small business owners manage their finances. It helps track income, expenses, inventory levels, bank transactions, time and project management – plus it includes automated backups of your data for added security. QuickBooks Online also helps keep an eye on taxes as they come due and ensure everything runs smoothly.
Though QuickBooks Online boasts a large user community, it may be challenging to get assistance if you’re just starting out. There are plenty of tutorial videos available to teach you the program’s ins and outs; however, navigating without familiarity with account-specific jargon and finding the learning curve tedious may prove challenging for some.
Therefore, it may be best to switch to another cloud-based accounting solution if you require more features such as Sage Intacct.
We found other downsides to QuickBooks Online were:
- There are no project management or payroll features
- Absence of features that are industry- and business-specific (such as lot tracking, eCommerce and barcode scanning)
- Lack of important accounting-related reports (e.g. reporting and transparency of your business health)
- Absence of direct expert assistance
- Restrictions on data and file size as well as on the number of users
- Not right for companies that require sophisticated inventory management
- Does not expand as well with your firm, and the subsequent update will cost a lot more money
Conclusion
We like Sage Intacct much more and that’s why here at Itas Solutions, we become an authorised partner of Sage.
We like the real-time visibility and reporting over their whole business using Sage Intacct from any location. Sage Intacct delivers so much more capabilities for limitless business development and scaling thanks to full cloud integration. Sage Intacct enables you to automate more of your daily tasks as your business expands so you can concentrate on more beneficial business efforts. These tasks include invoices, costs, payments, and other transactions and it brings together all this much more effectively than the others we tested.
Who we are
Itas is a multi-award-winning Sage partner. Having started in 1995 with just one customer, we now support over 200 clients nationwide. They know we are always there to provide a helping hand, whenever they need us. Trusted by our customers for over 20 years, Itas has been built on referrals from customers and IT professionals that love the expert yet personal service that we offer.
If you would like to know more about how Itas can help your business with finance automation, Sage implementation and improve purchasing control, you can get in touch at [email protected], call us on +44 (0) 1824 780 000 or contact us via our website.
