Top 5 Accounting Software
Accounting is something every business needs to do regardless of how little interest they may have in doing it. We understand you want to be talking to customers, getting your brand name out into the world and helping staff members grow the business. With this in mind, we’ve listed five accounting software solutions that will help you to become more efficient in this very area!
1. Intuit QuickBooks
First, we have a cloud-based operation that has been available for quite some time. Back in 2005, this one piece of software had as much as three-quarters of the U.S. market. Today, even the basic plan has plenty of features for businesses to get started.
For around $20 a month, you’ll get help with expense tracking, invoicing, time tracking, bill management and access for three users. If you’re just getting started in the world of accounting for your business, QuickBooks is also easy to use.
While some choose QuickBooks, others go for FreshBooks. As another cloud-based option, one of the benefits of choosing FreshBooks is the smooth interface. Even with no experience, we don’t think you’ll have a problem with this software solution. Elsewhere, the features are extensive, and you can integrate plenty of different services into FreshBooks (something you can also achieve with QuickBooks). This tool is useful for:
● time tracking
● expense tracking
● generating business reports
● taking credit card payments
3. NetSuite ERP
As our third tool, we have another well-known name – one that offers all sorts of financial tools alongside general ledger assistance. With more than just accounting available on this ERP (enterprise resource planning) tool, it’s perhaps a little more challenging to get used to than others in this list. However, it’s a solution that will serve you well in several different areas.
With the contact manager, you can encourage collaboration with synced calendars, track the sales funnel and automate communication. To help with accounting, the stock management system is extremely useful and even accommodates for scaling with a shipping module.
4. Sage 50cloud
Designed for small- and medium-sized businesses, our next suggestion for accounting software is Sage 50cloud. As well as managing financials, companies can also meet reporting requirements while remaining compliant with taxes. Furthermore, the platform can assist with cash flow, inventory, and budgeting. Depending on how much detail you require from your accounting software, the add-ons include:
● data management
● credit card processing
We also love the software’s mobile capabilities since this allows for on-the-go payments. If you meet with an accountant every so often, you can also show them live books rather than wasting time going over potentially outdated information.
Finally, we have a platform widely credited with revolutionizing the way accounting works for businesses. Created with ease of use in mind, the software allows for third-party integrations as well as the base features. For those concerned that accounting is too difficult, we highly recommend playing around with Xero.
Five Brilliant Tools
Which should you choose? We recommend taking advantage of the free trials (wherever available) and looking through the features to see which best meets your needs. You don’t necessarily need all the bells and whistles, just the features that allow you to simplify accounting and grow your business with care! To bypass the hassle of altogether, consider using a company that offers payroll services.
For small businesses, keeping operations in-house is necessary until the growth of the company warrants hiring an accountant, or outsourcing the services to a professional service provider. Until you can afford that luxury, these five software tools may be your best choice for accurately managing your accounting and payroll. Keeping these expenses organized within a software solution will also be necessary for end of year tax purposes. Cloud-based accounting software will give remote access to your bookkeeper and accountant should you utilize an out of state service or hire someone who works remotely from home. Cloud-based solutions are a safe way to ensure your data is safe from fires and other extreme disasters. For many, these software solutions can be confusing and difficult to navigate, which is why outsourcing is recommended for anyone who is unfamiliar with keeping financial records and managing a budget for a business.
If you are a business owner in need of accounting software, we believe that this top 5 list of programs will help you organize your finances better and prepare your business for growth. With so many software solutions to choose from, it can be difficult identifying the one that is right for you. Remember, most software subscriptions offer trial periods for you to test the functionality of the program and make sure it’s the right fit for you and your business. Keeping these tools in mind while searching for an accounting solution should help you steer clear of programs that have limitations, and point you towards programs that are feature-rich, will keep employees happy, and will support the growth of your business.
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