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Recommendations for cloud-based accounting application for startups?

Can anyone recommend (based on personal experience) a good web/cloud-based financial / accounting application?

This question is for a very early-stage startup (self-funded so far), that really only came together in the last couple of months. They're in development of the technology and are beginning to incur some costs and they would like to begin with a financial platform that is easy to use, simplistic in nature, flexible and has all of the basic features needed for organizing their finances.

I have the following characteristics in mind:

- Priced for a very-early stage startup (monthly cost, preferably without a contract)
- Able to integrate (input and output) with other applications for features such as importing / exporting of data, linking to accounts
- Customizable report generation
- Ability to enter / upload invoices (great if it can pay the invoice, but not required)
- Ability to generate branded invoices to clients
- Easy navigation
- All of the modules are well integrated with one another
- Cost projection
- Multi-user web-based environment
- Mobile application (preferably iOS)

They're looking at the popular ones (e.g. Freshbooks, Quicken), but thought I would ask here as well to see if there are any recommendations.

Thanks.

12 Replies

Alex Eckelberry
2
0
Alex Eckelberry Advisor
CEO at Meros.io
I have gone through this pain. I think the easiest is just to get a QuickBooks Online account. That's what I did. When we get bigger, we'll go to Intaact.
Chris Fell
0
0
Chris Fell Advisor
Inbound Marketing Pro | B2B Marketer
Hi there, we just switched to Xero. its been a really really good experience, they are doing a really great job for nearly everything you mentioned. Cloud based, monthly fee, first few months free, let em know if you'd like to know more. Warm regards Chris Fell Founder & MD Mobile: 0402 340250 Direct: +61 2 8014 5521 General 1300 426765 Skype: clfell Twitter: clfell Company Website | Blog | Linkedin | Twitter | Pinterest Authorised partner: Hubspot, www.hubspot.com Authorised partner: MathMarketing, www.mathmarketing.com . The information in this email, including attachments, is a confidential communication between g2m solutions and the intended recipient only. If you have received this communication in error please contact the sender immediately and erase all copies of this message and attachments.
Stephen Mitchell
0
0
Stephen Mitchell Entrepreneur
Owner, MLogiq
Have a look at WaveApps - very simple.
Simon Hill
1
0
Simon Hill Entrepreneur
Wazoku CEO, Entrepreneur in Residence at INSEAD
Xero is the best product on the market for price, ease of use, bank feeds, invoicing, mobile etc.
Scott Hughes
0
0
Scott Hughes Entrepreneur
Finance Professional
Take a look at Xero
Katherine Gaffney, MBA, CPA
0
0
Founding Partner at Xcelerate Financial
I recommend QB Online to all my clients. It's easy to customize for the level of complexity you want and it will be easy to hand off to the accountants when you are ready.
Phillip Lewis
0
0
Phillip Lewis Entrepreneur
Assisting BUSINESSES achieve GROWTH objectives.

Hi Brookes.

My experience says that this is a decision that is reliant on you finding something you are comfortable with. By that I mean that some people don't like a system that others might love (One man's meat another man's poison). I would recommend that you use trials to experiment with.

Most of the packages use the same work flow so once you set up a client and do an invoice, run a banking account, allocate the payments and understand the level of reporting from the system you will have a good idea if this is for you.

I also suggest that even once you make the decision to go with a specific system that you run it parallel with your current system to check for consistency in the information, as well as if something goes wrong you can 'pause' the new system to resolve without stalling your operations.

Also expect to change systems as your business grows and business needs change.

There are many options available on the web. Some are industry specific and others more general in their approach to the solution.

For me the following is key:
Can you import bank accounts
Is there an option to manage projects (do cost/profit centres)
The level and types of reporting
The access restrictions and security around this
The support given
Costs for the system
Upgrading or exporting information to other systems

Some links I have (not sure if they are still active), include:

https://www.pastelmybusiness.co.za/

https://www.sohoos.com

http://www.xero.com/

http://www.nolapro.com/

http://www.accountek.com/products/core-accounting

https://accounting.sageone.co.za/

http://www.na.sageone.com/

http://accountedge.com/products/

https://www.waveapps.com/accounting/

http://www.zoho.com/books/pricing-plans.html

http://www.intuit.co.za/small-business/easy-accounting-software.jsp?gclid=CLL51OyDm7YCFabLtAodfA0ADQ

http://www.navisiondepot.com/ERP-software-solution.html

http://www.magnetichq.com/

Hope this information helps and good luck.


Dina Destreza
0
1
Dina Destreza Entrepreneur
Digital Content Manager at Keyideas Infotech
If you are looking for integration, I would suggest you to develop your own application. You need to make sure that the application being developed can be updated with the passage of time. If you are hiring a third party to develop an application, do mention on your contract that your application needs regular update because it's in the initial stage.
Julian Wilson
0
0
Julian Wilson Entrepreneur
Co-founder & CEO at Khunu Limited
Xero, particularly if you are outside of the US and working in multiple currencies. We've been using it for two years and have no complaints.
Stephen Mitchell
1
0
Stephen Mitchell Entrepreneur
Owner, MLogiq
Quick comment on developing your own application - when I was speaking with my regional rep for tax credit for R&D and I mentioned that I may just have my own simplified CRM developed specifically for the few things that I want to do (something I have done before), he pointed out that this piece would *not* be something they would participate in - because there are so many crm's to choose from already.

He sat there, and waited for my reaction - and it was immediately clear that yes, it would be far cheaper to pay to integrate than to pay to develop. And that our focus remains on developing *our* product, and not redeveloping the wheel.

Just something to think about.
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