Starting a new farm can be an exciting time, but it also comes with a lot of responsibility, including keeping accurate records of your finances. Bookkeeping software can be an excellent tool for new farms, as it can help you keep track of your income and expenses, manage your accounts, and make financial planning easier. Also, if you can manage your own bookkeeping it will keep your accountant fees significantly lower. If you are wondering about choosing the right accountant for your business, check out last weeks blog here.
In this blog post, we'll discuss some of the bookkeeping software options that are available in the UK and are suitable for new farms.
QuickBooks
QuickBooks is one of the most popular bookkeeping software options available in the UK. It's easy to use, affordable, and offers a range of features, including invoicing, payroll, and tax management. QuickBooks also integrates with other software platforms, such as Excel and PayPal, making it a versatile option for new farms.
Xero
Xero is another popular bookkeeping software that's widely used by small businesses in the UK. It's cloud-based, which means you can access your financial information from anywhere, at any time. Xero offers features such as invoicing, payroll, bank reconciliation, and expense tracking. It's also easy to use, making it a good option for new farm owners who don't have a lot of bookkeeping experience.
Sage Business Cloud Accounting
Sage Business Cloud Accounting is a cloud-based accounting software designed for small businesses. It offers features such as invoicing, bank reconciliation, and financial reporting. Sage also has a mobile app, which makes it easy to manage your finances on the go. The software is user-friendly, making it a good option for new farm owners who may not have a lot of experience with bookkeeping.
Farmplan
Farmplan is a specialist software designed specifically for farmers and agricultural businesses in the UK. It offers features such as crop planning, livestock management, and farm mapping, as well as standard bookkeeping features such as invoicing and payroll. Farmplan is a comprehensive solution for new farm owners who need a software package that covers all aspects of farm management.
FreeAgent
FreeAgent is a cloud-based accounting software that's popular with freelancers and small business owners in the UK. It offers features such as invoicing, expenses management, and time tracking. FreeAgent also offers integrations with other software platforms, such as PayPal and Stripe, making it a versatile option for new farm owners who need to manage their finances across multiple platforms.
In conclusion, bookkeeping software can be an excellent tool for new farm owners who want to keep track of their finances and manage their accounts more efficiently.
QuickBooks, Xero, Sage Business Cloud Accounting, Farmplan, and FreeAgent are all suitable options for new farms in the UK. When choosing a bookkeeping software package, consider the features you need, the cost, and the ease of use. With the right software, you can streamline your financial management and focus on growing your farm business.