Are you looking for the right accounting software for financial accounting as an online cloud accounting solution and tax software + payroll & salary? This is indeed possible and is sufficient for 90% of all companies with up to 200 employees! Accounting software sought for bookkeeping & financial accounting through to payroll & salary does not have to be complicated and certainly not expensive. With a cloud accounting software you are well equipped whether you are a freelancer, self-employed person or entrepreneur with more than 50 employees. In this video I explain the most important differences and functions as well as the consideration of going directly to an ERP system instead of "just" accounting software.

Correct or even best accounting software financial accounting online cloud FiBu tax software + payroll & salary

✅ My recommendation:

👉 LexOffice: https://bit.ly/lexoffice-buchhaltung * + Payroll & Salary: https://bit.ly/lexoffice-lohn-gehalt *

👉 SevDesk: https://bit.ly/sevdesk-software *

Price overview: https://bit.ly/sevdesk-pakete * 🧐

SevDesk or Lexoffice decision aid: Lexoffice could be the better choice if you value an extremely user-friendly interface and work in an environment that does not require extensive e-commerce functions. SevDesk may be better suited if your requirements include strong e-commerce integrations and mature automation features.

⭐ ❌ I cannot unfortunately recommend using the following accounting software providers: – Wiso by Buhl – orgaMax – Sage

❌ If deployment is to take place in the DACH region, these providers are also not suitable or only partially suitable due to legal requirements: – Xero – Freshbooks – Quickbooks – Zoho Books

👇 The most fundamental functions of accounting software, which are indispensable for most companies, include:

✅ Double-entry bookkeeping (Note: as mentioned in the video, a cash basis accounting as a 4/3 calculator is sufficient in 99% of cases): Enables accurate recording of all business transactions through the principle of debit and credit. This is the foundation for most modern accounting systems and tax software.

✅ Invoicing and payment tracking for financial accounting: Automated creation and sending of invoices to customers. Tracking of incoming and outgoing payments to monitor cash flow.

✅ Account reconciliation: Reconciliation of transactions with bank and credit card statements to ensure the accuracy of bookkeeping.

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✅ Sales tax advance notification: Automatic calculation of sales tax based on payments made and received, and support in preparing sales tax advance notifications.

✅ Income Statement (EÜR) or Accounting: Creation of profit and loss statements as well as the balance sheet to represent the financial condition of the company.

✅ Cost Center and Cost Unit Accounting: Allocation of costs to specific projects or departments, which helps analyze the profitability of different areas of the company.

✅ Payroll and salary processing: Management of employee salary processing, including tax calculations, social security contributions, and other deductions.

✅ Fixed asset accounting: Management of the company's fixed assets, depreciation and value adjustments over the useful life.

✅ Reporting and Analysis: Creation of detailed reports on various aspects of finances, such as cash flow analyses, budget comparisons, and other important financial metrics.

✅ Access Control and User Management: Ensuring that only authorized users have access to sensitive financial data, with different access levels depending on the role in the company.

Current Video:

Checklist for selecting accounting software:

1. Company size and structure

   • Scalability: Can the software be easily adapted as your business grows?

   • Multi-tenancy: Support for multiple accounting clients under one account.

   • Users and access rights: Does the software support adding users and managing permissions and roles?

2. Industry

   • Industry-Specific Features: Consideration of industry-specific requirements and compliance.

   • Internationality: Support for international business operations, including multi-currency capability.

3. Features

   • Basic and advanced accounting functions: Double-entry bookkeeping, fixed asset management, budgeting, forecasting.

   • Payment Processing: Integration of electronic payment systems.

   • Billing and Dunning Management: Automated and recurring invoice generation and dunning processes.

   • Payroll accounting and reporting: Automatic tax calculations and report generation.

   • Custom Reporting: Flexibility in creating specific reports.

4. Integration

   • Compatibility with Other Systems: ERP, CRM, e-commerce, and specialized industry solutions.

   • Data Import and Export: Support for common data formats and easy data exchange.

5. Accessibility

   • Cross-Platform Access: Availability on various operating systems and mobile platforms.

   • Cloud-based vs. desktop solutions: Advantages and disadvantages of both options.

   • Offline Access: Ability to use offline and synchronize later.
     → no longer relevant

6. User-Friendliness

   • Intuitive user interface and easy to learn.

   • Personalization: Customization of the interface and functions to user preferences.

   • Training resources: Availability of online tutorials, webinars, and manuals.

7. Cost

   • Pricing structure: Clarity on one-time payments, subscriptions, and pay-as-you-go options.

   • Hidden Costs: Clarification of additional fees for support, updates, or additional services.

8. Data Security

   • Data Security Measures: Encryption, server locations, and compliance with data protection laws.

   • Backup and data recovery: Regulations and frequency of data backups.

9. Customer Support

   • Support availability and accessibility: 24/7 support, multilingual options.

   • Personalized Support and Training Offerings: Dedicated support and continuing education opportunities.

10. Reporting and Compliance

    • Compliance with Local and International Standards: Tax requirements and auditing capabilities.
      → one of the most important points where many software providers fail

    • Audit Trail: Detailed logging of all transactions for traceability and security.

Future-proofing and alignment with regional characteristics.

Sales, CRM and ERP + inventory management integrated? Possibly even project management (see other video)
→ more on this later (continue watching the video!!!)

I would be happy to book my independent ERP consulting!

Additional Criteria for Selecting Accounting Software

1. Technological development and updates

   • Future-Proofing: How well is the software able to keep pace with technological developments?

   • Update policy: How often does the provider offer updates and how are they implemented? Are these updates free or paid?

2. Adaptability

   • Customizability: To what extent can the software be adapted to specific business processes?

   • Extensibility: Can additional modules or features be added as needed?

3. User Experience

   • User feedback and ratings: How do current users rate the software in terms of user-friendliness, features, and customer support?

   • Community and support network: Is there an active user community or forums where tips and help can be exchanged?

4. Manufacturer reputation and stability

   • Market Presence: How long has the provider been on the market and how stable is its market position?

   • Financial Stability: Is the software provider financially stable? This can be particularly important to ensure the long-term availability of support and updates.

5. Compliance and certifications

   • Industry certifications: Does the software meet specific standards required by regulatory authorities or industry associations?

   • Data protection certifications: Does the software comply with international data protection standards such as GDPR in Europe or CCPA in California?

6. Performance and Reliability

   • Speed: How quickly does the software process transactions and reports?

   • Downtime: How reliable is the service? Are there historical data on system failures or interruptions?

7. Cost-benefit analysis

   • ROI Calculation: What return on investment can you expect from implementing this software?

   • Total Cost of Ownership: Consideration of all costs, including initial acquisition, ongoing operating costs, training, and potential third-party integrations.

My favorites for accounting and payroll management:

Links below the video and in the article

Note: lexoffice is now called Lexware Office

1. User-friendliness & Design

2. Features

3. Integration & Interfaces

4. Pricing Model

5. Mobile Access

6. Target Audience

7. Support & Documentation

• Lexoffice is an excellent choice for freelancers and self-employed individuals seeking a simple, intuitive and cost-effective accounting solution. It covers the essential functions and is particularly suitable for those who do not require complex inventory management or e-commerce integrations.
• SevDesk offers similar basic functions, but with a stronger focus on e-commerce integrations, project management and greater flexibility in interface integration. It is therefore particularly attractive for small to medium-sized enterprises or online retailers that require a somewhat more comprehensive solution.

Comparison: Accounting Software vs. ERP System

1. Feature Set:

   • Lexoffice and SevDesk offer strong features for accounting and financial management, but are primarily focused on these aspects. They integrate basic functions for invoicing, document management, and banking, but have limited capabilities regarding product management, inventory management, and comprehensive project management.

   • Weclapp, as an ERP system, offers a broader range of business functions that go beyond accounting. These include advanced inventory management systems (WaWi), customer relationship management (CRM), project management, and even e-commerce integrations. It also supports detailed reporting and analytics, which are crucial for strategic planning.

2. Integration and Scalability:

   • While Lexoffice and SevDesk offer effective integrations for common tools and platforms, they are somewhat limited in their ability to scale with other enterprise systems.

   • Weclapp enables seamless integration of various business processes and can be easily scaled to grow with your company. It also better supports international business through multilingual and multi-currency capabilities.

3. Target audience and user-friendliness:

   • Lexoffice and SevDesk are ideal for sole proprietors, freelancers, and small businesses looking for a simple, ready-to-use solution.

   • Weclapp is aimed at companies that need more comprehensive control and integration of their business processes and is particularly useful for mid-sized companies that need to go beyond basic accounting.

Migration to Weclapp or similar cloud ERP:

The transition from Lexoffice or SevDesk to Weclapp can be a strategic decision if your company has outgrown its current accounting solution and requires an integrated platform that supports comprehensive business processes. Weclapp not only offers advanced accounting functions, but also the tools needed to efficiently manage inventory, customer relationships, and online sales.

Factors for a successful transition:

• Data migration: Check compatibility and support when migrating existing data from Lexoffice or SevDesk to Weclapp.

• Training and Support: Ensure that sufficient training and support are available to make the transition as smooth as possible for your employees.

• Cost-benefit analysis: Evaluate the costs associated with the switch against the benefits gained through enhanced functionality and efficiency improvements.

Switching to an ERP system like Weclapp can be an important decision to increase efficiency and support the growth of a developing company. It is crucial to plan this transition carefully and ensure that the new system meets your company's requirements.

Prices & Costs:

1. Lexoffice

Lexoffice offers various pricing plans, with the price varying depending on the selected package. For a combination that also includes payroll and salary processing:

• Lexoffice Payroll & Salary: From approx. 19,90 € per month. This plan includes payroll accounting functions.

2. SevDesk

SevDesk also offers several pricing plans, depending on the required functions. For companies looking for similar features as Lexoffice, this would be a suitable option:

• SevDesk Accounting & Invoice + SevDesk Payroll: From approx. 19,90 € per month for accounting and approx. 14,90 € for SevDesk Payroll. Total therefore approximately 34,80 € per month.

3. Weclapp

Weclapp, as a comprehensive ERP system, offers a starting price that is higher than the other two options. Costs vary depending on the scope of functions and number of users. A basic plan could include:

• Weclapp ERP Prices start at approximately 44 € per month and user for the cloud version with basic functions. Payroll and salary processing are usually integrated via additional modules or third-party providers, which can incur additional costs.

Cost comparison in a table – sevdesk or lexoffice or directly weclapp

The different types of software

1. Finance Software

• Purpose: Specially designed to manage the financial aspects of a company. This includes accounting, budgeting, financial reporting, balance sheet preparation, and tax management.

• Objective: Optimization of financial processes and ensuring compliance with financial regulations.

2. HR Software (Personnel Management Software)

• Purpose: Management of all personnel matters, from hiring and personnel file management through payroll processing, performance reviews, to training and compliance.

• Objective: Efficient management of employee data and support for the human resources department in optimizing personnel management.

3. Sales Software

• Purpose: Support for the sales team in managing sales processes, order processing, quote creation, and customer interactions.

• Objective: Increase sales efficiency through automation of sales processes and improvement of data availability.

4. CRM Software (Customer Relationship Management)

• Purpose: Focused on managing relationships with customers and potential customers. CRM systems collect information about customer interactions, manage marketing campaigns, leads, and customer service requests.

• Objective: Improvement of customer relationships, increase in customer satisfaction, and ultimately revenue.

5. WaWi Software (Inventory Management System)

• Purpose: Coordination of processes related to inventory, stock management, ordering, and logistics. Inventory management systems are essential for companies that store and sell physical products.

• Objective: Optimization of inventory management and minimization of overstocking or understocking through efficient inventory control and management.

6. ERP Software (Enterprise Resource Planning)

• Purpose: A comprehensive software solution designed to integrate and manage various business areas within a company. An ERP system can include modules for finance, HR, sales, CRM, and inventory management.

• Objective: Integration of various departments into a single system to ensure data consistency, simplify processes, and enable efficient resource planning and management across the entire company.

A valid question: Why not book an ERP system directly?

Advantages of a comprehensive ERP system:

1. Integrated database: An ERP system centralizes data, resulting in better consistency, fewer redundancies, and easier data access.

2. Process optimization: By integrating various business functions into one system, processes can be made more efficient and collaboration between departments can be improved.

3. Scalability: ERP systems are often scalable and can be expanded as the company grows to support additional features or users.

4. Improved Reporting: With an ERP system, comprehensive reports can be generated across various business areas, which supports strategic decision-making.

5. Cost efficiency: In the long term, costs can be saved because fewer separate systems and interfaces need to be maintained.

Disadvantages of a comprehensive ERP system:

1. "High" Initial Investments: The implementation of an ERP system can be very cost-intensive, both in terms of the software itself and the implementation costs.

2. Complexity of Implementation: The introduction of an ERP system is often a lengthy and complex process that requires specialized knowledge and careful planning.

3. Flexibility: Specialized software solutions can be functionally more comprehensive or adaptable in their respective areas than the corresponding modules of an ERP system.

4. Resistance during implementation: Employees often require extensive training and may resist changes to existing processes.

5. Oversizing for small businesses: For small businesses, a comprehensive ERP system can be oversized, leading to unnecessarily complicated processes and unused features.

Important distinction: Cloud ERP systems are often faster and easier to implement than traditional on-premise solutions!

Already from 3 employees, a modern cloud ERP system can be worthwhile depending on the company structure. Why? More in the next video.

Further article:

Simple bookkeeping / accounting & simple accounting software