Digital Toolbox: operations. Moving your accounting online

In the eighth instalment in our Digital Toolbox series, our authors tell you how to use cloud based platforms to stay on top of your accounting.

Small and medium sized social enterprises often face the challenge of having to accomplish basic accounting tasks internally. Cloud-based digital tools definitely make it easier to standardize and report, while keeping ownership of the process. 

Wave has a variety of free accounting tools to easily manage payroll or business receipts. It is probably the best free accounting software for small social enterprise, but if your business is growing fast or has plans of expanding, you could quickly outgrow Wave. Instead, an affordable option like Zoho Books may be a better suited. 

Quickbooks and Xero are popular paid but affordable accounting software alternatives. They’ll let you customise invoices, track expenses, manage CIS deductions among other things.

Expensify allows users to manage expense transactions, upload receipts, generate receipts from online sales and automatically create expense reports while allows finance teams to approve and export reports. 

 

This content is brought to you by RBS Social & Community Capital which exists primarily to support charitable organisations (including, but not restricted to, charities, social enterprises and other organisations run for social impact) by providing finance where they are unable to access sufficient mainstream finance. RBS has a strong heritage supporting community-based businesses.