• FinanceWise

2019 Top 5 UK Accounting Software

Whether you're looking for easy to use accounting software to send your invoices, or you need a more advanced accounting software to manage your stock or inter-company transactions, FinanceWise has identified 5 user friendly accounting systems for 2019.

Accounting software with the right reporting capabilities can make or break your day.

Basing your decisions on accurate and timely information is a must to run your business effectively. Whether this takes you minutes or hours to update your accounts will have a mayor impact on your day and how frequent you, your staff or your accountant will be happy to do this.

Regardless if you just want to see your monthly profits, or who still owes you money, as a company director you would want to see how your business is doing. Being able to log into your accounting system gives you this overview on demand. If you organise your accounting in house or you have an accountant, you would want to be able to login to an accounting system which is easy to use and get the right reports without faffing around.

Are you looking for an accounting system and want to get a more in depth insight, you can click on the 'read more' buttons below the text. To see if the software has capabilities to manage your stock, multiple currencies and integrate it with your CRM or ERP system.

Some accounting systems can certainly be a nightmare to work with, while others are very intuitive. Below you will find the #pros and #cons of the most popular #accountingsoftware in alphabetical order:

#1 #Netsuite

Netsuite is a well established and sturdy accounting software for larger companies. The strength of Netsuite is that it's highly customisable to your company's needs. The downside is that you will have to customise it to fulfil your needs. The recommended path will be to hire a consultant for the setup. Netsuite brings out frequent updates and additional features.

This accounting system is a step up from the plug and play accounting software such as Quickbooks, Wave and Xero. Where you can start sending invoices 5 minutes after signing up, which is ideal for a freelancer or a startup. Netsuite focuses more on the scale-ups, medium and larger size companies. You should invest time and resources to set up Netsuite to reap the rewards of this in terms of advanced reporting and separation of duties within your organisation and avoiding errors or fraud.


- Very suitable for established and medium sized and larger businesses

- Highly customisable

- Ability to set various read and write levels to access information or approve transactions

- Advanced report building capabilities

- Offers a complete ERP package


- Not a plug and play kind of software which would suit a freelancer well

- Not a huge amount of training and videos as with the other accounting software

- On the expensive side compared to the other accounting systems

#2 #Quickbooks

Intuit Quickbooks is one of the most well known accounting software which focuses on smaller and medium sized companies. They have created a intuitive accounting program which auto recognises transactions as with Xero and lets you do a lot of your accounting from your smartphone if desired. Such as recording receipts and capturing a picture of them and sending sales invoices to your clients. Prices vary from £8-£27 pounds excluding any paid add-ons from the app-store.

Quickbooks and Xero are strong competitors in the small business space and it comes down to what your business needs. Some features will be included with one software or the other and some features will require you to choose a more expensive plan.


- Very intuitive user experience

- The app takes you far which means you can do your accounting and invoicing when it suits you best

- Just like Xero it links with HMRC to file your taxes

- Recognises previous transactions and prompts the right general ledger account

- Integrates very well with your bank and various ERP / e-commerce systems.


- Easy system to use, but therefore also easy to make mistakes for instance in prior periods which might go unnoticed.

- Customer service can be hard to reach

#3 #Sage

Very well known and respected accounting software in the UK. This integrates well with Salesforce as it's being owned by the same group company. Has been around with desktop software for decades. Has recently introduced their cloud based software.

Also a grow as you go pricing model starting from £10 a month, which allows one user to send sales invoices. The starting version does not allow you to record purchase invoices. The next step up which allows multiple users to record the purchase invoices and other features will set you back £22 a month.


- Send sales invoices, which you can customise fairly easily

- Bank connections with the most popular banks for automatic bank upload to Sage

- Custom report builder

- VAT calculations

- Offers the more advanced features in the £22 a month, such as multi-company

- App store full with apps to link your ERP, CMS or webshop - Very helpful customer service

- When you outgrow Sage One, you can easily migrate to Sage50 or Sage200 with custom implementation


- Basic £10 a month package lacks basic features such as purchase invoice recording, credit notes, customer statements and remittances.

- Multi-company and inter-company features

#4 #Waveapps

When you are on a tight budget and want to start sending out invoices straight away, Wave is your accounting software. It's very intuitive, lets you connect to most banks or lets you upload bank statements, from where you can update your accounts. It comes with a few invoice templates, which can be customised. It doesn't come with the account suggestion as we have seen with Quickbooks and Xero, but lets you send recurring invoices, which isn't included in Quickbooks entry package.


- It's free of charge

- Scales nicely with your business, when you want to receive Credit Card payments via Wave you pay a small percentage over your invoiced amount.

- All the basic requirements are present free of charge.

- Intuitive to use

- Allows all the required features such as recurring invoices, tax reporting, financial statements

- Easy to create, edit and send invoices

- Connect your bank and match the transactions to the expense / income / balance sheet accounts

- App lets you send invoices and record received payments on the go

- Excellent export features to Excel and PDF without any branding


- As expected from a freemium accounting software the advanced features are missing such as project accounting and running a payroll

- Not possible to get a multiple month P&L or Balance Sheet report (only 1 comparative period has just been introduced)

#5 #Xero

Xero has been around since 2006 and have created an innovative and very user friendly accounting software. It offers a grow as you go service, where you can start using the software for £10 a month and upgrade as soon as you need more advanced functionalities. Please find the pros and cons of the Xero Accounting Software below:


- Send invoices with out of the box invoice templates

- Bank connections with the most popular banks for automatic bank upload to Xero

- Recognising previous transactions and suggest posting accounts

- Advanced features such as multi-currency, inventory, projects and reports

- Useful app to check your finances or send invoices on the go

- App store full with apps to link your ERP, CMS or web shop

- Features to file your taxes from the Xero environment

- Unlimited users

- Very helpful customer service


- It's very easy to use, but also very easy to change things by accident e.g. in prior periods. This might result in your accounts not matching to your bank or outstanding invoices. If you know what you're doing and you're precise this is an advantage.

- Doesn't have the level of checks and multi level approvals as more advanced accounting software systems.

I hope this comparison was useful. Please let me know in the comments below if you would like to see more accounting software to be included in the comparison.

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