The Top 5 Accounting Software For Your Fitness Business

Many personal trainers who don’t feel fully in control of their finances are significantly stressed. Being aware of your finances is the first step towards having a profitable fitness business and make intentional plans for your future.

Luckily, there’s software that can help you stay on top of things for profit, loss, tax, and lots more. The software can even give you insights and reports on business performance. There are many software that can do this, but there are 5 real leaders in the field.

1. Intuit Quickbooks

quickbooks.intuit.com

QuickBooks is probably one of the best-known names for small business accountancy software and offers a cloud-based online edition of its desktop service. There is an extensive range of different services available, and you can even create a custom package.

There are so many versions of this software that giving a single review to cover all editions is beyond the scope of this article. One of the most popular options, QuickBooks Online, starts at £8/ month, which is a good starting point for self-employed personal trainers.

QuickBooks users in the UK have UK-specific tools built-in, such as tax tools that help to deal with HMRC. Users on the Simple Start Package in the USA can track income, expenses and it also includes lots more US-specific features.

Managing bills, tracking mileage, and time trackers are included, which could be a handy feature for mobile personal trainers without a set base. There’s a reason why QuickBooks is a recognised leader in this space. The features offered are pervasive, particularly on the more sophisticated packages.

2. Xero

www.xero.com

Starting at just £10 per month, this is a tempting piece of software. But for many personal trainers, it may not be enough. That entry-level membership restricts you to sending 5 invoices and bills and reconciling a maximum of 20 bank transactions. T

This could be suitable for a personal trainer that’s just starting. Still, perhaps there are better options - or more suitable membership tiers, such as their Growing Plan - for more experienced personal trainers.

Expenses are managed particularly well on Xero with a sophisticated expenses management feature on the app. There are many options for creating reports, budgeting and sharing the data with accountants. Highly powerful at its higher tiers, this could be an outstanding tool for the personal trainer with a well-established business.

3. Wave

www.waveapps.com

Wave is an incredibly successful cloud-based accounting service, free for accounting, receipts and sending invoices. They support this free service through occasional adverts. However, technical support isn’t included unless you pay for it.

Wave is well designed, and for a personal trainer that needs quite basic features, this will do very well. As a sole trader and as a small business, it’s got some thoughtfully designed elements. However, do note that you pay per transaction.

If you’re doing significant sales volume, such as having clients who pay per session, this could be a factor, and you may want to find something that’s more competitively priced on that front.

4. Sage 

www.sage.com

Sage is one of the original accounting software on the market and offers a 30-day free trial and paid options without gimmicks. You can do everything you might need in one location, including cash flow forecasting and even handling multiple currencies - which would be a unique feature for online trainers with international clients.

The software is managed on a desktop or through a mobile app that has a user-friendly interface. It comes with plenty of web help and tutorials and includes free unlimited phone and email support 24/7.

For newer personal trainers with more basic needs, there’s Accounting Start, which doesn’t include quotes, estimates, bills or cash flow forecasts. Still, for personal trainers working as self-employed sole traders, this is likely to be more than adequate with the option to upgrade as your business grows.

#5. Zoho Books

www.zoho.com/books

Zoho Books is one branch of a large business and is a fantastic cost-effective solution for self-employed personal trainers. The desktop user interface is robust, and the mobile app is highly usable too. It’s also considered easy to use.

While there are limits with the basic entry-level plan, the standard package is more than enough for personal trainers. Even the professional package offering all the shiny toys is only £18 per month. Even at this competitive price point, there’s an incentive if you pay for the year, offering you 2 months off the price. There’s a 14 day trial for new users to see if it’s compatible with their needs.

However, a potential drawback of Zoho Books could be for personal trainers running a team or a gym owner. There’s a lack of payroll option, limiting personal trainers looking to expand their businesses.

Conclusion

Using software to help make your accounting feel more manageable is a wise move for many personal trainers, especially those who feel overwhelmed when it comes to finances.

Primary considerations will relate to how user-friendly the software is and how well the features map out against how you run your personal training business (such as whether you need invoicing included or if you need to integrate a booking software).

While there’s no one size fits all, there’s certainly a right fit for your business. With all these accounting software solutions offering free trials for a limited time (some for as long as a month), there’s an option to try some out before making a firm commitment.

If you already work with an accountant that helps you to file your taxes, asking them if they have a preferred piece of bookkeeping software may be a good start. They may have systems in place that lend themselves to one piece of software over another.