Cloud accounting software for side project. Recommendations?
Does anyone have any recommendations of cloud based accounting software to run my (UK based) SaaS side project. We’re doing just over 1k MRR (and growing) and I want to keep on top of the finances.
The business is pretty simple, we have payments coming in from Stripe and pay hosting costs to AWS and GCP.
Ideally any solution would be able to help with doing payroll (for when we start paying people) and also calculating tax due.
Any recommendations of what to try or avoid are most welcome. Thanks!
Since it’s a side project, go with Waveapps. Most of the features are free.
I recently discover and.co because of the Fiverr acquisition and the system is great. But I don't think they have support for payroll since the platform focus on freelancers and solo entrepreneurs.
I’ve been using FreeAgent for the last three years and I have been completely satisfied with it. I’m a freelance web developer and I run a UK-based limited company.
Whilst I have an accountant for peace-of-mind, FreeAgent makes payroll, VAT and tax returns super-easy and gives me a pretty good overview of how we’re doing.
I know FreeAgent has some Stripe integration (https://www.freeagent.com/developers/goodies/), but I have not used this feature.
I'd ask your accountant. If it's a system that they use they'll be able to handle tax returns, year ends for you, and might even from part of the fee you pay them. Xero very popular with forward thinking accountants, though I'd go with your accountants recommendation.
I have used Waveapps but the payroll is limited to US & Canada at the moment. Quickbooks may be a good tool and I know Sage One can be very good (HMRC Compliant as well) but is more expensive.