Proper bookkeeping is essential for every business even for small business owners. If you fail to manage your books properly you will not only risk facing severe legal charges, but you can also lose money. Fortunately, the advancement in technology has simplified the task of managing finances for small business owners. A lot of different software are available in the market, and your decision will be based on the one you favor. This work will discuss in detail some accounting software options for small businesses.
There are two classes of business accounting software namely open source and proprietary software. Proprietary software is the most straightforward to use and convenient for small businesses. In that case, this work will address the proprietary software. We begin with QuickBooks by Intuit that is among the most popular software. The primary benefit of QuickBooks is in its user-interface. Its ease of use allows sending of invoices and receipts, tracking of income and management of taxes with a few clicks on the screen. For that reason, you can adequately govern your employees and contractors. Secondarily, there is Freshbooks, which is among the best software. It has outstanding user friendliness and is compatible with iPhone and Android systems. You can typically gain entry to Freshbooks from anywhere since it works as a mobile app. Freshbooks is well-known for its capacity to effectively manage invoices and time.
Zoho Books is the other kind, although not quite common as QuickBooks and Freshbooks. Zoho Books functions very well and its user-friendliness ranks with the best. You can use it on your mobile or your computer since it is available for Android and iPhone operating systems. Next up we have Xero app that is also compatible with Android and iPhone operating systems. Xero functions excellently in mobile circumstances, and it is used for through and comprehensive financial analysis. Nonetheless it has add-ons that you will have to install so that it can be used for receiving payments.
The other software that is best suited for small businesses and in most cases contrasted with QuickBooks and Freshbooks in term of user-friendliness and functionality is Sage 50cloud. Furthermore, it can be viewed as better software in some areas like automation. The disadvantage of this software is that is does not offer an ideal payment software solution. Wave is an additional software with many free functions. It is an excellent alternative if your budget does not allow you to acquire a more powerful one.
Lastly, we have Onpay that is convenient for small to medium-sized businesses. All the primary bookkeeping tasks can be discharged by it.