Going Independent: Adding Up the Pros and Cons ; COLIN EXLEY and JOHN WILLCOCK Test-Drive the Best Accounting Software

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Less than a third of UK small to medium-sized enterprises (SMEs) use bookkeeping software. We tested four accounting packages specifically designed for SMEs. All four packages contained the following functions as standard: sales ledger, purchase ledger, cash book and nominal ledger.

What should it do?

Essentially the software that you will buy does the same thing as that used by much larger companies: it automates bookkeeping. Most accounting software is presented as modules, each performing a set of related accounting functions. As the complexity of the business increases, more modules are needed. The starting point for most packages are four basic elements: …