Looking for an accounting solution for your small business? Businesses all over the world are pacing themselves very nicely these days, especially small businesses that have incorporated some great unique ideas into their working methods over the years. Small businesses need all the help they can get to become smart and innovative. That’s why they don’t need to purchase expensive business accounting applications or spend hours lost in complicated reports.
The right accounting software can help them to deal with its monetary processes with a lot of ease; also, it keeps every other task running smooth as a vintage car.
The best players in the market who provide accounting solutions to these SMBs have few things in common:
- They have made their user interface such that the user can spend hours on it and never feel that things are getting cluttered.
- The design in most of these applications is very simple and basic.
- The tools are quite easy to handle in most of the applications which is the greatest benchmark over the years in accounting technologies.
- Most of the applications are affordable which makes it even more likable.
To extend this appreciation, here are some of the features accounting software has to offer to manage your finances:
- Basic accounting tasks – Businesses can easily execute with accounting solution that provides basic functions such as invoicing, income tracking, generating reports, and vendor and client management.
- Tax preparation and filing – Accounting software with tax preparation features such as automatic tax calculations, tax reporting and multiple tax reports can make your life and your accountant’s life easier by helping you to prepare and file taxes on time.
- Payroll processing – This feature helps you to enter time sheets, estimate pay, print checks and pay your employees.
- Automation – Automation saves a lot of time since you will’ve not have to do things manually such as billing, recurring payments etc.
- Quote and estimate creation – Small businesses can use customized, pre-defined templates to create different professional quotes and estimates for clients and convert them to invoices.
- Mobile access – This feature helps you to use accounting software anytime, anywhere or even on any device, thus you can now work on multiple locations.
- Third-party integration – Accounting software offers integration with third-party apps so that you can synchronize data in real time, which includes POS systems, e-commerce, credit card processing, inventory, ERP and Google Apps.
Here are some of the top picks for accounting by small business owners that offers the above mentioned features –
QuickBooks is #1 rated accounting solutions for small businesses and accountants that makes accounting quick, easy and painless. It has some great features including unbeatable sales, expense management system, payroll system and reporting.
Small business owners have the choice to select desktop, online or hosted version of QuickBooks. QuickBooks desktop versions (Pro, Premier, Enterprise solutions) allow users to download QuickBooks software and access from a personal or office computer. An Internet connection is required only when features such as banking are needed. QuickBooks Online is a fully web-based accounting software solution (cloud accounting software) offered directly by Intuit, have less features than QuickBooks Desktop. QuickBooks on cloud (Desktop versions only) means that QuickBooks and data files are installed, stored, accessed and run on a hosting provider’s servers, rather than on one’s own personal computer or office computer. Users need an internet connection to connect to the servers to work on QuickBooks.
Pricing : Starting at $7.99 /month
The headline on the software website says “Simple Cloud Accounting” and they are spot on. This accounting application is very innovative in its own ways. Launched in March 2008, the accounting application is a great competitor to QuickBooks and other major players. The basic design of the application is very intuitive and the processes are also very easy to handle. Kashoo has also been able to create its own image in the market.
Pricing : Starting at $5 /month
The 8 year old accounting application Xero is considered to be a great prospect for small businesses. The application comes handy to those who are handling different processes at the same time, as it delivers some great third party applications that keep everything intact.
It also lets you access your accounts in various currencies. The numbers of users that can be added to this application at one go are unlimited. The invoicing and bill paying system is very efficient when there is a lot to deal with. The application doesn’t fail at peak levels which is also a great plus. XERO has officially been appreciated by many online sites like Macworld, accounting today and magazines like Forbes.
Pricing : Starting at $20 /month
Sage is easy to use Canadian accounting software, primarily known as simply accounting or Sage 50. This is fully outfitted with built-in Canadian tax regulation to handle accounting, taxes, and business management.
Pricing : Starting at $269 /year
FreshBooks is the cloud based accounting software that is specifically designed for small businesses, with a focus on time tracking and invoicing.
Pricing : Starting at $19.95 /month
Every customer has its specific needs and demands according to which they choose appropriate accounting software. And just a little head’s up, before finalizing something just make sure you access every bit of these applications, a free demo is a must. Don’t hush things as this could make or break your business.