Open Source/Free or low cost accounting software recommendations

**wattaj** · 4 May 2020, 10:49

Originally posted by sojan View Post

We are planning to have a low budget company, which might have tradings upto 10K or so. Hence not worth to have an agent or Software like Freeagent (which as per their site is around £25+ pm !!). We used to use freeagent and Xero and both are excellent, but due to cost constraints

1. I hope few of you run company without agents? (by self) How hard is it or any difficulties you face?
2. Any recommended software which can replace freeagent/Xero? I'm happy to run on my own laptop or home server if need be.

thanks in advance

Will you have a company bank account?
If so, then RBS/Natwest will bundle Freeagent for the cost of the account charges.

**malvolio** · 4 May 2020, 11:00

Good accountants are free, as are good software packages such as FreeAgent, since they save you time and your time is money.

Bad accountants and software, however, can be very expensive...

Must admit I'm curious as to why you need a company for £10k a year.

**northernladuk** · 4 May 2020, 11:02

Wouldn't just a spreadsheet do for those values? I'm sure you an find a copy of the old SJD spreadsheet without the password protection on it somewhere. Seems a very small amount to be doing it this way though.

But the free offering as Wattaj is the way to go if that's your desire.

**Old Greg** · 4 May 2020, 11:10

Originally posted by malvolio View Post

Good accountants are free, as are good software packages such as FreeAgent, since they save you time and your time is money.

Bad accountants and software, however, can be very expensive...

Must admit I'm curious as to why you need a company for £10k a year.

Possibly a startup, where there is expenditure but not much income?

I use bullethq (the Irish version). There is a UK version, but I've not used it.

**sojan** · 4 May 2020, 11:20

Originally posted by northernladuk View Post

Wouldn't just a spreadsheet do for those values? I'm sure you an find a copy of the old SJD spreadsheet without the password protection on it somewhere. Seems a very small amount to be doing it this way though.

But the free offering as Wattaj is the way to go if that's your desire.

Thanks to everyone for reply. I thought of spreadsheet, but the facilities of submitting returns, filing to HMRC, automated accounting, loading from Bank Accounts .. i'm not sure can really live without that.

PS: Have liked/upvoted for all the helpful posts out here

**sojan** · 4 May 2020, 11:21

Originally posted by wattaj View Post

Will you have a company bank account?
If so, then RBS/Natwest will bundle Freeagent for the cost of the account charges.

I didn't know that. Thanks for the Tip. Not sure if someone want to recommend the banks (if there is vouchers). Else will investigate into it

**Fred Bloggs** · 4 May 2020, 11:29

Even cheaper - RBS/NatWest challenger banking arm called Mettle offers free banking and a FreeAgent account. Note that for a new account holder, RBS/Natwest are free of charge for 18 months. Naturally, those accounts all integrate with FreeAgent, RBS bought FreeAgent a few years ago. HTH.

**sojan** · 4 May 2020, 11:36

Originally posted by Fred Bloggs View Post

Even cheaper - RBS/NatWest challenger banking arm called Mettle offers free banking and a FreeAgent account. Note that for a new account holder, RBS/Natwest are free of charge for 18 months. Naturally, those accounts all integrate with FreeAgent, RBS bought FreeAgent a few years ago. HTH.

Thanks for that too.
(The only slight problem i could find is "Is Mettle safe?
Mettle is separate from NatWest and is not a bank, so it isn’t currently covered by the Financial Services Compensation Scheme (FSCS). The FSCS protects money you’ve deposited in a bank up to £85,000 if it goes bust – this does not apply to Mettle."). May be in this current climate , may be good to go with bank of FSCS protection

**Fred Bloggs** · 4 May 2020, 11:59

Originally posted by sojan View Post

Thanks for that too.
(The only slight problem i could find is "Is Mettle safe?
Mettle is separate from NatWest and is not a bank, so it isn’t currently covered by the Financial Services Compensation Scheme (FSCS). The FSCS protects money you’ve deposited in a bank up to £85,000 if it goes bust – this does not apply to Mettle."). May be in this current climate , may be good to go with bank of FSCS protection

RBS or NatWest it is then.

Open Source/Free or low cost accounting software recommendations