Are you interested in investing in Moneysoft payroll software?
Did you know that Moneysoft caters for most SME businesses?
In this review, you’ll find out everything you need to know about Moneysoft, including who they are, what they offer and customer reviews.
Let’s take a closer look and find out!
What’s in this review?
Who is Moneysoft?
So, who exactly is Moneysoft?
Moneysoft was launched in the year 2000 and produces software like Money Manager, which is currently in its 7th edition and popular among their customers, while they have also developed payroll software for small and medium-sized enterprises.
Used by thousands of companies across the UK, Payroll Manager allows you to calculate your tax, and send your returns electronically to HMRC.
Payroll Manager 20
The lowest priced version of Payroll Manager is suitable for up to 20 employees and subcontractors, as the name suggests, and one employer.
At a reasonable cost of £68 per year (excl VAT), this includes all of the costs regarding licensing, any updates to the software during that year and support via email.
According to the Moneysoft website, the Payroll Manager software is HMRC recognised and can help you to submit your essential payroll data to HMRC in real time.
✔ Options for single and multiple employers
✔ Records essential details for HMRC
✔ Suitable for up to 20 employees or subcontractors
✔ Tax refunding
✔ P45 for employers leaving, new employees forms
✔ Calendar to record things like absences and holidays
✔ ID cards with photos
✔ Contact details for your employees
You can also deal with payroll issues such as maternity pay, sick pay and produce payslips without needing to utilise several different software.
Payroll Manager 100
This version of Payroll Manager is more suitable for medium-sized companies as it can handle up to 100 employees, and an unlimited number of employers.
If your business is planning to expand shortly, you might want to invest in Payroll Manager 100 instead of Payroll Manager 20, as it gives you a lot more room to grow.
Payroll Manager 250
For larger businesses, Payroll Manager 250 is for companies that have up to 250 employees or subcontractors, as well as multiple employers.
The Payroll Manager software has the same benefits for each version, just with a larger size for capacity. This makes it a perfect match for companies that would like to use the same software regardless of their size.
Payroll Manager Comparison
|Payroll Manager 20||Payroll Manager 100||Payroll Manager 250|
|£68 annually||£136 annually||£204 annually|
|Excludes VAT||Excludes VAT||Excludes VAT|
|For 1 employer / contractor||Unlimited number of employers||Unlimited number of employers|
|Up to 20 employees||Up to 100 employees||Up to 250 employees|
|Price includes support and any updates||Price includes support and any updates||Price includes support and any updates|
|12 month licensing||12 month licensing||12 month licensing|
Money Manager 7
Money Manager 7 is bookkeeping software that is specifically to help you manage your accounts, with over 100,000 customers worldwide.
Because the software is intuitive and easy to use, it has been used by anyone from small businesses, to churches and even for you to use for your accounts.
Some of the benefits include:
✔ Importing data
✔ Check your bank statements and budgets
✔ Use the charts function to see your data in pie charts or bars
✔ Work out your VAT and submit online VAT forms
✔ Set up multiple currencies when it’s required
✔ Analyse your cash flow
✔ Save your reports as PDFs or CSVs
✔ Purchase a license with a one-off payment
The personal edition of Money Manager 7 is used mostly for your accounts. This can help you to keep everything in order and allow you to stay on top of your books.
Some of the benefits are that the software is easy to use for those who aren’t necessarily technically minded, and you can use it for multiple accounts.
You can fix any mistakes that you might make quickly, compare data by using bar charts or your bank statements via the reports functions.
The business edition of Money Manager 7 is aimed towards small and medium-sized businesses. It incorporates the essentials like VAT and keeps track of your sales or purchases.
You can save your backups to a USB, compare actual vs estimated budgeting and make a full analysis of your cash flow and finances.
Money Manager Comparison
|Money Manager 7 Business Edition||Money Manager 7 Personal Edition|
|Not including VAT||Not including VAT|
|Unlimited number of companies||Specifically for personal accounts|
|One-off licence purchase – no annual fees||One-off licence purchase – no annual fees|
|Submit your VAT online||Tracks your income and expenditure|
|Ledger for your sales and purchasing||Easy use|
When it comes to customer reviews, Moneysoft has an average reputation on trusted websites such as Trustpilot. With a score of 3-stars out of five.
But, it is important to keep in mind that as they only have seven different reviews on the website. So it is difficult to ascertain how reliable these are.
Some of the negative reviews state that the customer service can be unhelpful. But, on the positive side, it seems like the actual software is efficient and useful for many professionals.
Online reviews aren’t always accurate. But, you should consider them when trying to find the best payroll software for you and your company.
Positive Moneysoft Review
Alex Williams on Trustpilot: I’ve been using payroll manager for years, never had any problems and straightforward.
Negative Moneysoft Review
Andrew Bird on Trustpilot: I persevered with this payroll software for three years but eventually the combination of archaic, unworkable interfaces, disappearing data and the rude and patronising ‘helpline’ propelled me to a 21st-century provider.
If you have any questions or issues with your Moneysoft software, here is how you can get in touch.
Call 08456 444 555 or 01425 655 777 between the hours of 9 am and 4:45 pm Monday to Friday.
Check out https://moneysoft.co.uk/support/ for the Moneysoft support centre, with FAQs to answer most of your common questions about the software.
They suggest using the support section first then emailing if you still have a problem.
|Company||Customer Score||Software Flexibility||Price|
|Moneysoft||★★★||★★★||£68 – £204 a year|
|Brightpay||★★★★★||★★★★★||£99 – £999|
|Sage||★★★★||★★★||£241.50 a year|
|Xero||★★★★||★★||£10 – £27.50 a month|
Have you found out everything you need to know about Moneysoft? If you have any other questions, you could take a look at some of the other reviews available here.
Did you know that you can see all of the software available to you in minutes with the ExpertSure comparison tool?
Take a look at the guides to find out more about payroll, or you could fill out the form at the top of the page.
Moneysoft might be a good fit for customers that run an SME company with less than 250 employees, who can benefit from a price that will include all of your support and updates, as well as a license.
✔ You can manage up to 250 employees
✔ There is an option for multiple employers
✔ A calendar keeps track of holidays and any absences
✗ The software is more expensive than others
✗ There is a limit on the number of employees
✗ Moneysoft only have an average score on Trustpilot