Tax time can be a stressful time of year, and not just because you have to pay your taxes! When it comes to organizing your taxes and filing your taxes, finding the right tax software can save you both time and money.
To help you avoid costly mistakes and save time with tedious processes, we’ve compiled this list of the top five tax software used by tax accountants in London. Read on for our handy guide to choosing the best tax software for your business accounting needs.
#1 – Xero
Over 99% of tax accountants in London prefer Xero for its simplicity and flexibility, with its user-friendly interface that allows you to adjust your tax software to fit both your needs and your clients’ needs. What makes Xero so popular with CPAs is that it’s more than just an accounting tool – it can also be used as a business management tool.
It has features like inventory tracking, payroll services, and project management tools that allow you to manage every aspect of your business from one place. It even includes time tracking functionality which is great if you are self-employed or have employees who need to log their hours.
#2 – Quickbooks
Quickbooks is one of, if not, the most popular small business accounting software available today and is used by many tax accountants in London. It’s one of few that allows you to record your transactions electronically. Another great feature of Quickbooks is its ability to link up to point-of-sale (POS) software.
This means that when your customer pays for their transaction using a credit card, Quickbooks will automatically record their payment and log it into an account for you on its own—saving you lots of time!
#3 – TurboTax
At $50 for both federal and state tax returns, TurboTax is more expensive than our first two options. But it may be worth it if you have a lot of deductions to write off and a lot of investment income that you need to report.
It offers full-featured software for Windows, Mac, and mobile devices. The software also comes with audit support on top of any phone or live chat support that you need during tax season.
#4 – Sage 50cloud
Sage 50cloud was recently launched as an effort to update and improve Sage 50 software for accounting professionals. In fact, if you’re already familiar with Sage 50 but have been hesitant to upgrade your software, Sage 50cloud may be exactly what you need.
The platform gives you access to all of your information whenever and wherever you need it—plus you won’t need any additional hardware or software!
#5 – FreeAgent
FreeAgent is one of Britain’s biggest accounting software companies. Although it’s not as popular with accountants (who usually use Intuit products) it’s one of the top 5 tax software used by tax accountants in London.
FreeAgent is a cloud-based solution, which means that all data can be accessed anywhere and on any device. It also doesn’t require purchase so try it out for free today!