Do you need help with your financial admin? In that case, QuickBooks might be a good option for you. That said, you might need to visit other sources to get accounting software that best fits your needs. 

This guide will help you find the right support for your business by covering the following:

  • What is Quickbooks?
  • How will I benefit from hiring an accountant?
  • How do I find the best accountant for my needs?
  • What’s a better alternative to QuickBooks?
  • Why is Countingup the best solution for one-person businesses?

What is Quickbooks?

Quickbooks is an accounting software service primarily geared towards small and medium businesses. Their main aim is to make financial management easier for business owners who might not have a lot of accounting experience.

Quickbooks’ software has a huge range of features to make sure it can achieve this aim. These features include things like an invoicing system, which lets you create and send digital invoices to customers. You can also keep track of your paid and unpaid invoices using their software, but unlike Countingup, you’re unable to match actual financial transactions to specific invoices. 

Quickbooks also offers the ability to connect your bank account directly with their software, so you can monitor all your incoming and outgoing transactions. This is a great way to keep an eye on your cash flow, but it’s not perfect. Quickbooks alternative Countingup provides a solution by offering a two-in-one product: Countingup combines both accounting software and a business account in one handy app.

Do you want to learn more about how Countingup measures up against QuickBooks? Then, explore this QuickBooks alternative here.

What’s a better alternative to QuickBooks?

While you can get some use out of QuickBooks, the company may lack a crucial understanding of one-person businesses. Much of Quickbooks functionality is aimed at larger businesses. They have features that make paying employees easier, for instance, which you’ll get little use out of as a small company. 

So, whether you operate as a sole trader or a one-person limited company, you might want to consider a QuickBooks alternative, such as Countingup. 

One of Countingup’s most helpful features is the Accountant Hub. This allows an accountant to view all of your financial transactions without the need for documents to be sent over bit by bit over a longer period of time. Inviting an accountant to the Accountant Hub is very simple, too: all you need to do is send an invitation from the Countingup app.

On top of that, the Countingup app is also free for accountants to use, so even if your accountant isn’t a user, you can get them onto the system with no additional cost. Hiring an accountant is a good idea, as they can bring several benefits to your small business. 

How will I benefit from hiring an accountant?

It’s crucial to stay on top of financial admin for anyone running their own business, especially when you operate alone. Bookkeeping, accounting, taxes, and other financial tasks can be confusing and extremely time-consuming if you don’t have much experience in finance. 

Since accountants are well-versed in all things finance, hiring one could help you optimise your financial management and run your business more efficiently. Small business owners tend to hire accountants to complete specific tasks, such as filing company accounts (for a limited company) or helping with the Self-Assessment tax return form

The two main ways you’ll benefit from hiring an accountant is speed and accuracy. That’s because accountants are finance experts, meaning they can likely get the same tasks done faster and more accurately than you can. An accountant can also provide insight into your financial health and share advice on how you can become more profitable. 

In addition, handing over your bookkeeping and accounting tasks to an accountant will also free up time in your schedule that you can spend growing your business. 

How do I find the best accountant for my needs?

There are plenty of methods you can use to find an accountant that suits your business needs. 

If your budget is limited, hiring a freelance accountant can be much cheaper than an accounting firm. You can try using freelancing sites to find an accounting professional. That said, it’s vital to check each candidate’s qualifications carefully to ensure they’re appropriate for the job. 

On the other hand, if you need a very experienced accountant to help with your finances, you might struggle to find them on freelancing sites. You’d be better off looking for these chartered accountants by searching these registers:

LinkedIn is a great source to browse. For example, try typing “accountant” followed by the service you need in the search bar, such as “accountant for taxes”. Test out different search terms and contact any candidates that seem relevant to you. LinkedIn also has groups and communities you can join that can connect you to a professional that fits your job description. 

Why is Countingup the best solution for one-person businesses?

Countingup is the business current account with built-in accounting software that allows you to manage all your financial data in one place. Countingup is a QuickBooks alternative that specialises in one-person businesses. This means every tool and feature is specifically designed to suit your business needs. 

In addition, Countingup makes it almost effortless to collaborate with your accountant to optimise your financial management. With the app, you can share your accurate, real-time bookkeeping data with your accountant in seconds with the tap of a button — no more worrying about being chased for missing data, duplication errors, data lags or inaccuracies.

As well as accountant access, Countingup also works as a business account, which is a massive advantage over Quickbooks. Instead of juggling accounting software and a bank account, you’ll have everything on one easy-to-use app.

Find out more here.