Are you looking for the right accounting software for financial accounting as an online cloud accounting and tax software + payroll? This is actually possible and is sufficient for 90% of all companies with up to 200 employees! Accounting software sought for bookkeeping & financial accounting up to payroll does not have to be complicated and certainly not expensive. With cloud accounting software, you are perfectly equipped, whether you are a freelancer, self-employed, or an 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 for an ERP system instead of „just“ accounting software.

The right or even best accounting software for financial accounting, online cloud accounting, tax software + payroll

✅ My recommendation:

👉 LexOffice: https://bit.ly/lexoffice-buchhaltung * + Payroll: 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 might 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 might be more suitable if your requirements include strong e-commerce integrations and sophisticated automation features.

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

❌ If the software is to be used for the DACH region, these providers are also not suitable or only partially suitable due to legal regulations: – Xero – Freshbooks – Quickbooks – Zoho Books

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

✅ Double-entry bookkeeping (Attention, as mentioned in the video, a cash basis accounting (EÜR) as a 4/3 calculator is sufficient in 99% of cases): Enables the precise recording of all business transactions using the debit and credit principle. This is the basis 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 bookings with bank and credit card statements to ensure the accuracy of the accounting.

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✅ VAT pre-registration: Automatic calculation of VAT based on payments made and received, and support in preparing VAT pre-registrations.

✅ Cash basis accounting (EÜR) or balance sheet: Creation of profit and loss statements and the balance sheet to represent the financial state of the company.

✅ Cost center and cost unit accounting: Allocation of costs to specific projects or departments, which helps to analyze the profitability of different areas of the company.

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

✅ Asset accounting: Management of the company’s fixed assets, depreciation, and value adjustments over their 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 key figures.

✅ Access control and user management: Ensuring that only authorized users have access to sensitive financial data, with different access levels depending on their role in the company.

Current video:

Checklist for selecting accounting software:

1. Company size and structure

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

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

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

2. Industry

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

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

3. Features

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

   • Payment processing: Integration of electronic payment systems.

   • Invoicing and dunning: Automated and recurring invoice creation and dunning processes.

   • Payroll and Reporting: Automatic tax calculations and reporting.

   • 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. Costs

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

   • Hidden Costs: Information on additional fees for support, updates, or extra 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 Offers: Dedicated support and further training opportunities.

10. Reporting and Compliance

    • Compliance with local and international standards: Tax law 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 viability and alignment with regional specificities.

Sales, CRM and ERP + Merchandise Management integrated? Perhaps even project management (see other video)
→ more on this later (keep watching the video!!!)

Feel free 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?

   • Expandability: Can additional modules or functions be added if required?

3. User Experience

   • User Feedback and Reviews: How do current users rate the software in terms of usability, 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 in 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 bodies 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? Is there historical data on system outages 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 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 who are looking for a simple, intuitive and cost-effective accounting solution. It covers the most important functions and is particularly suitable for those who do not require complex ERP or e-commerce integrations.
• SevDesk offers similar basic functions, but with a stronger focus on e-commerce integrations,project management and more flexibility in interface connectivity. It is therefore particularly attractive for small to medium-sized businesses or online retailers who need a somewhat more comprehensive solution.

Comparison: Accounting Software vs. ERP System

1. Scope of Functions:

   • Lexoffice and SevDesk offer strong functions 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 options regarding product management, warehousing, and comprehensive project administration.

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

   • Weclapp enables seamless integration of various business processes and can be easily scaled to keep pace with your company’s growth. It also better supports international business through multilingualism 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 require more comprehensive control and integration of their business processes and is particularly useful for medium-sized companies that need to go beyond basic accounting.

Transition 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 needs an integrated platform that supports comprehensive business processes. Weclapp not only offers advanced accounting functions but also the tools needed to efficiently manage warehousing, customer relationships, and online sales.

Factors for a successful transition:

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

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

• Cost-Benefit Analysis: Evaluate the costs associated with the change against the benefits gained through extended functionalities and efficiency improvements.

The transition 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 the requirements of your company.

Prices & Costs:

1. Lexoffice

Lexoffice offers various plans, with prices varying depending on the chosen package. For a combination that also includes payroll:

• Lexoffice Payroll: From approx. €19.90 per month. This plan includes payroll functions.

2. SevDesk

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

• SevDesk Accounting & Invoicing + SevDesk Payroll: From approx. €19.90 per month for accounting and approx. €14.90 for SevDesk Payroll. Total therefore approx. €34.80 per month.

3. Weclapp

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

• Weclapp ERP Prices start at approx. €44 per month and user for the cloud version with basic functions. Payroll accounting is 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: Specifically designed to manage the financial aspects of a company. This includes accounting, budgeting, financial reporting, balance sheet preparation, and tax management.

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

2. HR Software (Human Resources Management Software)

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

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

3. Sales Software

• Purpose: Support the sales team in managing sales processes, order processing, quotation generation, and customer interactions.

• Goal: Increase sales efficiency by automating sales processes and improving 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.

• Goal: Improve customer relationships, increase customer satisfaction, and ultimately sales.

5. ERP Software (Enterprise Resource Planning System)

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

• Goal: Optimization of warehousing 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.

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

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

Advantages of a comprehensive ERP system:

1. Integrated Database: An ERP system centralizes data, leading to better consistency, less redundancy, 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 with the growth of the company to support additional functions or users.

4. Improved Reporting: An ERP system allows for comprehensive reports across various business areas, supporting strategic decisions.

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

Disadvantages of a Comprehensive ERP System:

1. „High“ Initial Investments: The introduction of an ERP system can be very costly, 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 to introduction: Employees often have to undergo 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 functions.

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

Even with just 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