Are you still one of those small businesses that deal with accounting and bookkeeping manually, using Excel spreadsheets and receipts? If you are, then it’s definitely time that you get with the times, and start using accounting software to help you out and speed up the job. This kind of software automatizes the process of tracking and categorizing all the money that you earn or spend.
Some of it includes bonus features such as inventory management, tax preparation, payroll support, and invoicing and payments. In truth, by using one of these tools, you can save a lot of money and time.
Here is some of the best accounting software out there.
1. Sage One
Let’s start off with a basic solution for small businesses that are in need of income and expense tracking. Sage One has the main things that you need, it is cost-effective, and also cloud-based. It doesn’t have many extra features, and you get minimal reports. Next to accessing it via your browser, you can also download an app for your mobile device.
The app includes project tracking, management of tasks, customers and vendors, income and expense tracking, cash flow management, and links to financial institutions. It accepts payments via Sage Payment Solutions and PayPal, and enables you to create and send online invoices.
Xero is online accounting software with a great interface, and a variety of features. One of the main things that make Xero special is the fact that it has Mac integration. As opposed to a bunch of other software that only offers a plugin, Xero actually has a Mac module, making it easy to connect to the Mac UI. Next to that, the tool includes a balance sheet, payroll module, bank reconciliation, inventory, invoicing, expense claims, financial reporting, and its own dashboard. All that you need to do is set up the software to work with your bank, and you’re ready to go.
3. Zoho Books
Zoho Books is an online accounting app used by many small businesses. It’s subscription-based, and offers features that are just perfect for freelance work, such as invoicing, expense tracking, bill payment, time tracking and estimating. One thing that it lacks at the moment, however, is payroll, and it also doesn’t integrate with third-party payroll apps.
It’s supported on all essential browsers, as well as on mobile devices. You’ve got three packages: basic, standard, and professional. The app also integrates with Zoho CRM (Customer Relationship Management), as well as apps like PayPal and Google Apps for Work.
If you are looking for a truly comprehensive tool for basic accounting, then you should choose Wave. It’s a freemium online accounting software that is a perfect solution for small businesses that don’t have a lot of staff, freelancers, and consultants. It’s made to easily take care of financial reports and daily office processes. It includes profit-loss reports, balance sheet, receipts, and invoicing, and can also deal with payroll and direct deposit.
Keep in mind that Wave is another basic solution, so if your cash transactions become complicated, you will most probably need to move to a more comprehensive software.
A great accounting software for a small business in any industry is Kashoo. It has a very intuitive dashboard which makes it simple for you to track your business when it comes to expenses, invoices, payments, bank feeds, reports, and more. A great thing about this software is that it comes with real human support if you need any kind of help with using it and the features it offers.
Don’t be a small business stuck in the last century. Choose from the accounting software presented in this article, and make the job a lot quicker and easier for yourself. Some of them are there for your basic accounting needs, while others include bonus features that might come in handy.