Accounting is no longer seen as a commonplace when it comes to running a business. This is because of the role it plays in helping business owners understand where their money is coming from, where it is going to, how much they have at any given time and provide businesses with quantitative financial information used in making business decisions. Therefore, the need for quality accounting software to help small businesses maximise their resources and increase success rate.
At this stage, you might be wondering which tool will suit your kind of business; worry no further. We’ve put together some quality accounting software to help you out.
FreshBooks is an accounting software that makes running a small business easy, fast and secure. With FreshBooks, you spend less time on your accounting and more time doing the things you love. What’s unique about this software is that it tracks online payments, enabling businesses to get paid online through payment gateways; has features that allow you to track both past and current invoices; tracks the precise location a customer opened an invoice; enable users to access information anytime, anywhere on their Android and iOS devices.
Zoho Books is an online accounting software for small businesses that allows you to easily manage the money flowing in/out of your business. Manage your customers and invoices, while keeping expenses in check. Record, monitor and reconcile your bank accounts and transactions, and collaborate with your employees in real-time. Zoho Books is also popular for its automatic payment notifications; project management and tracking; customer engagement; invoice distribution and tracking; complete inventory control and easy bank reconciliation feature.
Xero is a quality accounting software that helps small businesses thrive. It is easy to use since many of the pages have how-to videos and link to a step-by-step guide in case you need additional help. It has time-saving features because all its processes have been streamlined, giving you the tools to accomplish financial tasks faster. Xero also allows inventory tracking and purchase ordering, smart reconciliation and it connects to your bank and credit card accounts and imports data daily. Its mobile capabilities allow you to carry out accounting tasks on the go.
Bench Accounting is another accounting software for small businesses that solve bookkeeping for entrepreneurs. Beyond that, they help entrepreneurs understand what they want to do and where they want to go. Bench Accounting removes the weight of accounting and bookkeeping from you, arrange your information and guarantee that everything is exact.
Wave is a free invoicing and accounting software for small businesses. It is perfect for freelancers, business consultants and other service-based small business owners. Wave is totally free, that is, no setup fees, customer support fees or hidden costs, which makes it perfect for small businesses. Users get unlimited invoicing for an unlimited number of vendors and customers. You can track your income and expenses, scan receipts with your iPhone or Android phone, connect your bank accounts, create financial reports, and more. Wave is best for service-based small businesses.
As you fiddle with thoughts of growing your business, getting the ‘right’ accounting software that you can start with cheap, but grow with advanced tools should be a priority.