No matter how big or small the businesses are, but managing the accounts is needed in all. Accounting doesn’t always have to be complicated. With the right software, it becomes easier to handle accounts of the business. Business accounting software has changed in recent years. The accounting software helps in keeping track of the accounts payable while is prepared for the tax season. Starting a solo business can be pretty challenging, but you can manage your finances efficiently with accounting software. Google and Excel have great places to do accounting, but they even lack certain advantages. For example, many companies outsource the accounting to other companies. But with accounting software, you can keep the accounts in-house.
Best accounting software for small businesses:
Quickbooks is the best accounting software made especially for small businesses. It has an endless support forum and online training resources to help the people. Quickbooks is a cloud-based app used mainly by professionals. There are third-party integrations while helping to save the tax of so many people. The software can be easily accessed through a mobile or web browser. There is a free 30 days trial with the software. After that, the price plans start from $25 per month, going up to the advanced basis at $150 per month. If you buy it within the first few months, you will be getting additional discounts on it. The monthly subscription can be upgraded with the growth of the business. If the business is looking for a payroll solution, Quickbooks Payroll can be integrated well with QuickBooks Canada Hosting online. The simple start plan provides all the basic needs of people. Besides, the advanced feature offers new offer robust financial planning and support. The third-party integration is from websites such as PayPal or Stripe.
2) Fresh Books
Invoicing is the crucial part for all small businesses maintained perfectly by Freshbooks. First, it allows customizations in the invoices as per the needs of the company. Secondly, the primary function of print, receive and send invoices to all the lenders. Also, Freshbooks help in taking care of business bookkeeping. It is service-based software that helps request deposits, keep client remainders and keep time tracking on projects. The software is a cloud-based app with a user-friendly interface. Further, Freshbooks is only an invoicing software, but new features have been added to it. For example, there are four plans in the software with a 10% discount on yearly payments. It also offers 60% discounts if you book for six months at an instance. The only difference between the plans is the billing capacity. Lite is the minor service at $6 per month with billing up to 5 customers. Whereas, Premium is the highest service at $20 per month with no limitations on billers. There is a credit card charge for all customers paying using credit cards. It has third-party integrations like G Suite, Shopify, Gusto, etc. Freshbooks help in providing the accurate budget of the company to work with.
3) Zoho Books
Zoho Books is budget-friendly, starting at $9 per month, making it easy for small businesses to incorporate. Further, it has various add ons like expense reports, inventory management, etc. In addition, the software allows for effective communication from the client portal. Also, they accept bulk payments by sharing bank transaction data. You can easily prepare the cash flow statements, balance sheets, and all other essential sheets of the company. Then, keep a direct eye on the stock while helping to track inventory in real-time. The professional plan starts at $ 29 per month, providing unlimited contacts and ten users.
Wave is an essential accounting software that provides to make simple invoices of the business. Moreover, you don’t have to keep any track of payrolls or inventory. There are features for freelancers as well. There is a free feature offering all the accounting needs. The business can pull out the reports at the end of the year for preparing the business tax return. There are no such transactions or billing limits, and it can run on multiple businesses simultaneously. Likewise, It helps in financial reporting, invoicing, and also scanning of all the business receipts. However, the Wave does charge additional charges when it is paid via Visa or Mastercard. It charges 1% of the transaction with $1 as a minimum fee. It comes with two plans having an add-on service. The first plan is $20 per month, along with $6 per employer. At the same time, the second plan is $35 per month along with $6 per employer. It is a complete payroll service, and all tax filings are managed by Wave.
Accounting software helps in reducing the work of the employees while doing accounts and finances. Cloud-based software has made it possible for businesses to access books at the same time. Go for the best software and help you business reach greater heights.