Starting a new business is an exciting time, it is easy to get sucked into a mindset of just sell, sell, sell, and putting everything else on the back burner. But setting up a solid accounting system from the beginning that tracks your business’s performance will make, as well as save you a headache of going back through months of records to try and put your accounts together.
In this blog post, we will take a look at one of the best accounting software packages available to sole traders, freelancers, and small businesses in Ireland – Sage Business Cloud Accounting (SAGE ONE).
PRICING
| START | ACCOUNTING | |
|---|---|---|
| Price | €12 p/m + VAT | €27 p/m + VAT |
| Free Trial | 3 Months (When you sign up here) | 3 Months (When you sign up here) |
PROS AND CONS
| PROS | CONS |
|---|---|
| Cloud-based – access from anywhere | No Fixed Asset Module |
| Cheaper option available for sole traders | Payroll Software not included as a standard |
| Customers can pay directly from your invoice | No automatic numbering system for journals |
| Ease of use- You can open multiple tabs on your browser | You will not have access during maintenance periods |
| Automation – linking a bank account and creating rules | Security features basic |
| Detailed Tax Reporting – VAT, VIES, RTD | Customer support can be slow |
| Create custom invoice templates with your own logo | Cheaper alternatives on the market |
| Email Customer invoice directly from platform- with click of a button | Reporting could be made better- grouping |
FEATURES
You don’t have to be an accountant to be able to use the Sage Cloud Software, it is very simple to navigate and use.
The ‘Start’ package is targeted at sole traders and freelancers whereas the ‘Accounting’ package has much more advanced features more suited to small businesses. Let’s compare them further:
| Detail | STARTER | ACCOUNTING |
|---|---|---|
| No. of users | 1 | Multiple |
| Customer Management Module | Yes | Yes |
| Supplier Management Module | No | Yes |
| VAT Return Feature | Yes | Yes |
| VIES Feature | No | Yes |
| RTD Feature | No | Yes |
| Bank Automation | Yes | Yes |
| Inventory Management Module | No | Yes |
| Forecast Cash Flow | No | Yes |
| Advanced Reports | No | Yes |
| Invite Accountant | Yes | Yes |
Helping you with Taxes
VAT reporting can be time-consuming, but SAGE has some super easy reports that really simplify the process for you. For example, you can run a report for your VAT return at the click of a button. This report is developed to match how the data is to be entered on a return via the Revenue Commissioners ROS tax reporting system.
Similarly, they also have tax reports that will help you file VAT Information Exchange System (VIES) returns and Return of Trading Details (RTD).
Automation
To make your life easier you can try to automate as much of your accounting as possible. This can be done by importing bank transaction and setting up rules that allocates recurring transactions to where they need to go.
Get Paid Faster
When emailing customers invoices a link can be attached to the invoice that will allow them to pay it immediately and also see all previous emails and payments made to date. This can greatly reduce the number of queries and time-wasting of managing your debtor’s control system.
Sage Marketplace
Another great feature of Sage is the ability to integrate your accounting package with other systems you use in your business which can improve your workflows.
Systems like Stripe, Shopify, etc can be are available for integration. With these integrations, you can eliminate data entry and securely transfer data between both programmes.
REPORTS AVAILABLE
| STARTER | ACCOUNTING |
|---|---|
| Profit and Loss Standard | Profit and Loss – Standard |
| Balance Sheet | Profit and Loss – Comparative |
| Aged Debtors | Balance Sheet |
| Sales Day Book | Trial Balance |
| Trial Balance | Aged Debtors |
| Category Activity | Aged Creditors |
| Audit Trail | Sales Day Book |
| Chart of Accounts | Purchases Day Book |
| Unreconciled Bank Transactions | Profit Analysis |
| Cashbook Report | Sales Revenue – Products and Services |
| VAT Return | Nominal Activity |
| Audit Trail | |
| Chart of Accounts | |
| Cash Flow Statement | |
| Cash Flow Forecast | |
| Receipts and Payments Day Book | |
| Unreconciled Bank Transactions | |
| Unallocated Receipts or Payments | |
| Cashbook Report | |
| VAT Return | |
| Overseas Purchase of Goods | |
| VIES Report | |
| Return of Trading Details | |
| Stock Movement Report |
ALTERNATIVES TO SAGE
SAGE is not the only cloud based accounting package on the market, there are many more you can try out to see what works best for you. Here are some of our top picks.
- Quickbooks
- Xero
- Big Red Cloud
- Accounts IQ
WHAT THE CUSTOMERS THINK
According to Trust Pilot Sage has a rating of 4.6 from 15,147 reviews.
FINAL VERDIT
Sage is a reliable choice for both sole traders and small businesses in Ireland. The main selling point of Sage is that they tailor their product to meet your local tax laws and requirements. They also provide great updates on changes in laws and learning materials for their customers. The price is also very competitive and better than a lot of their competitors.
Although the Stater account has less features it should still cover most of the needs of sole traders and freelancers in Ireland.
Disclaimer: This blog post is for informational and educational purposes only and should not be construed as financial advice. Links may contain affiliate deals.
