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Choosing the right accounting software is something that has to be done early in the life of any organisation – and getting it wrong can have long-lasting consequences.
A system that serves one business or nonprofit perfectly well for many years can seriously hamper another as it grows. That makes the decision a crucial one for small and medium-sized businesses, particularly for those that aspire to grow into significant midmarket players. It’s all about improving efficiency, ensuring compliance, and gaining insights that can drive growth.
As more organisations operate remotely, the demand for cloud-based accounting products has skyrocketed. But with so many options available, how do you decide which is the right fit?
This guide explores key considerations and highlights the benefits of cloud accounting software for small businesses that plan to become bigger. You’ll also discover how platforms like iplicit address the challenges faced by SMBs and nonprofits.
Why cloud accounting software?
Cloud accounting software refers to online accounting solutions which keep the user’s data secure for them, so the program can be accessed from anywhere with an internet connection.
The arrival of cloud technology for entry-level accounting software was a big development. Smaller organisations that took advantage of inexpensive, entry-level cloud systems often enjoyed functionality that, until recently, wasn’t available to many medium-sized organisations.
The best cloud accounting software for medium and growing organisations in 2025
Here are some of the options on the market for cloud-based accounting software.
|
Accounting software |
Ideal for |
Key benefits |
Considerations |
|
iplicit |
Growing businesses, from medium sized through to Enterprise. Nonprofits, charities and MATs |
|
iplicit is best suited to midmarket organisations, including businesses, non-profits and MATs. Smaller organisations or those just starting out may find some of its powerful capabilities unnecessary at the outset. |
|
Xero |
Micro and small businesses |
|
Not always suited for growing organisations who will require a more comprehensive solution as they scale. Can lack flexibility – some businesses may struggle to adapt to complex needs or require multiple add-ons for more complex tasks. |
|
QuickBooks online |
Small businesses |
|
Limited scalability, and can become restrictive as businesses grow. Add-on reliance – it needs additional third-party apps as the business expands, complicating processes. |
|
Sage Accounting |
|
|
Steep learning curve – new users may find it harder to navigate, requiring extra time and training. Less flexibility, so scaling and adapting to modern business needs may be more challenging. |
- iplicit
iplicit is ideal for businesses, MATs and nonprofits that are outgrowing basic accounting tools, but don’t need the complexity of enterprise-level solutions.
Its standout features include real-time reporting, seamless integration with other software and intuitive workflows tailored to your needs. iplicit’s workflow automation saves time and reduces errors, while its scalable interface ensures long-term usability.
- Xero
Xero is known for its user-friendly dashboard and VAT compliance. It also integrates with countless third-party applications – though you should be wary of bolting too many applications together.
As businesses scale, Xero’s capabilities may no longer be sufficient, leading to a need for more comprehensive solutions. Some organisations may find Xero lacks the flexibility needed to adapt quickly to evolving needs or complex workflows.
3. QuickBooks Online
QuickBooks Online offers a robust set of features making it a popular choice for small businesses and freelancers, although bigger, fast-growing organisations are likely to come up against its limitations.
QuickBooks can become restrictive as organisations grow and require greater control over their finances. Users will often need to add additional third-party apps as their business grows, which can complicate processes.
- Sage Business Cloud Accounting
Sage offers MTD-compliant features along with tools for cash flow management and forecasting for small businesses.
However, new users may find Sage harder to navigate, requiring additional time and training to use effectively. Adapting to changing business requirements and scaling smoothly can be more challenging compared to newer, more agile cloud solutions.
Why iplicit is the best choice for growing organisations
iplicit was invented to bridge a gap. It combines the simplicity of entry-level accounting software with the power and flexibility that usually only come with expensive enterprise systems.
Key benefits include:
- Customisable reporting to provide insights tailored to your requirements
- Time-saving automation to simplify everyday tasks and save large amounts of time at month-end and year-end
- Multi-entity support for finance teams that need to account for group entities
- Continuous upgrades so the system is kept secure and efficient at no additional cost.
How to choose cloud accounting software that grows with your business
Choosing the right platform is not just about picking the suitable product for today’s jobs. It’s also about considering where your organisation is likely to be going in the future. Here are some steps to go through.
- Identify your organisation’s needs
What specific challenges are you looking to address? Are you drowning in spreadsheets? Struggling to delegate financial tasks? Perhaps you're looking for advanced reporting or integration with other tools like your CRM. Establishing your goals will help narrow your options.
- Consider integration capabilities
If you use third-party tools for payroll, invoicing, or HR, ensure your accounting software can integrate with them. The last thing your team needs is data stuck in silos. Also consider whether you’ll be paying for third-party applications to do things that a more capable finance system could do on its own.
- Check for scalability
Even if you’re a small organisation now, choosing software that grows with you is a wise move. Look for solutions that cater for both smaller organisations and medium-sized businesses with more complex needs.
Consider whether you are likely to become a more complex organisation, perhaps a group consisting of several legal entities. Will you need to deal with much higher transaction volumes? Will you deal in multiple currencies or tax regimes? Will you need workflows to handle spending and expenses approvals?
- Evaluate usability
Accounting software shouldn’t require weeks of training to master. Look for programs with intuitive interfaces, clear instructions, and efficient workflows to keep things running smoothly from day one.
- Explore cloud features
Ensure you’re maximising the benefits of cloud-based technology. Powerful cloud accounting programs can automate a host of tasks including bank reconciliation, accounts payable, aged debt recovery, consolidation for multiple entities and report scheduling.
- Review customer support
Transitioning to new software can leave you with questions. Choose a provider that offers strong customer support, whether that’s on the phone or via email, and consider what training and online resources are provided. A look at review sites such as G2 and Capterra should help.
Final thoughts
Choosing the right cloud accounting software for your business or nonprofit is a powerful step toward financial clarity, increased productivity, and informed decision making.
Tools like iplicit make managing finances more accessible, even for organisations with complex needs. If you think iplicit could be right for your organisation, book a demo today to see how it works.