Business accounting software: Business Accountz Basic review

Personal Accountz money management software has become a viable alternative for Microsoft Money and Quicken users.  This is a review of Business Accountz Basic which is business accounting software for small businesses.

With MoneyHighStreet.com’s focus on personal finance, you may be wondering why we are reviewing business accounting software aimed at small businesses and partnerships.  The reason is that there are an increasing number of people who set up small part time businesses, many online such as Ebay sellers.  These small businesses can grow into larger full time propositions and therefore need an efficient booking system to keep track of business finances.

Business Accountz Basic provides an effective upgrade pathway for someone who is running a small business and needs to extend their personal money management so that they can keep track of their business transactions and accounts.  This review examines how effective Business Accountz Basic is.

Accountz.com actually offer three levels of business bookkeeping and accounts packages which provide a seamless upgrade path for the growing business.  The three products in the Business Accountz range are: Business Basic, Business Professional and Business Enterprise, each of which will be reviewed separately.

Business Accountz Basic

This costs £83.32 + VAT (£99.98) for the boxed version.

If you prefer a download version, there is currently a special offer on that – see the Accountz website for more details.

and is instantly downloadable from the Accountz.com web site.  As with Personal Accountz (see our review), the software is fully Windows 7 and Mac Snow Leopard compatible.  It will also run on Linux.

UK users will be pleased to see that Accountz.com is a British company that is actively developing and supporting its packages.

Central to the Business Accountz functionality is the Rapid Data Entry technology which allows you to quickly enter transactions and bank entries in any order without having to switch between screens.  This will please those business owners who bundle receipts into a shoe box and then have a blitz with their bookkeeping at the end of the month, or (worse) the end of the VAT quarter.

Once entered you can re-arrange them in any order you like. You can also edit anything whenever you like directly in the transactions table. If you are happy with an entry, you can lock it to avoid any accidental editing. Of course, you can also unlock any transactions too, so you will never be forced to make traditional correcting entries unless you want to.

The ability to enter data quickly and efficiently into the system is certainly one of the key benefits of using this bookkeeping package.

VAT reports

You do not need to be VAT registered to use Business Accountz Basic, which will suit many people starting up a fledgling business.  Those who do become VAT registered will appreciate the ability to create a VAT return using a single click.

The latest version of the software has been updated as a free upgrade to facilitate the VAT rate change from 15% to 17.5% from 1st January 2010.  VAT due on purchases and sales are automatically created so small business can rest assured that dealing with VAT is as simple as possible.

No invoicing

Potential users of Business Accountz Basic should be aware that there are no invoicing facilities in this package.  You need to upgrade to the Professional or Enterprise versions to create invoices within the system.

Whilst this may be a limitation for some businesses, many small businesses with strong online presence will probably use payment processors such as PayPal which can provide invoices as part of the payment process.  Of course, as the business grows, or becomes more complex, upgrading to the Professional version will be a sensible option anyway.

Overall opinion

With its fast, fully editable bookkeeping, quick VAT return calculations and Accountant ready reports, Business Accountz Basic offers a cost effective and efficient way for small businesses to manage their finances.  Its ability to run on the latest Windows and Mac operating systems is a further plus.

Those needing invoicing and customer management facilities will need the Professional edition (£250 + VAT), however overall Business Accounts Basic offers a good bookkeeping solution for small businesses and is priced well below some of the other, better known competitors.

The fact that the software is owned by a UK based company that has ambitious plans for its products and offers exceptional online and telephone support, should be reassuring for the small business owner who wants good financial management.

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