Accounting software takes the headache out of our small business accounting procedures while saving time and eliminating errors that can be caused by manual procedures. It is a vital function in any enterprise because this tool gives you the clear picture of your business’ financial performance. It tracks how much money is coming in and out, can be used to create invoices, reports, manage taxes and bank transactions, and contains other various features that are valuable for your growing business.
Choosing accounting software can be quite a challenge for any business owner. There are different systems that offer different features, so you must first be sure about what you’re looking for in an accounting tool before you purchase a program.
To help you choose what system you want to utilize in your business operations, here are six accounting software that could be used by small businesses across a variety of different industries:
1. QuickBooks Online
QuickBooks Online (QBO) is a powerful accounting system that gives you real-time information about your financial data. This software utilizes cloud technology which makes it convenient for ‘on the go’ entrepreneurs because financial statistics can be accessed anytime, anywhere. QBO is hailed as “The Best Accounting Software for Small Businesses” for it offers seamless accounting to business owners by automating processes. It has a user-friendly interface and tools. QBO is widely used by over a million accountants worldwide.
Xero stands out as the accounting software with Mac Integration. It has a Mac module that connects you to the Mac UI, unlike other solutions that offer you a plugin. It has a similar intuitive interface with QuickBooks Online but provides the user with more features. If you want robust accounting then Xero is the software for you.
Freshbooks is well-balanced in terms of features and support. It has the most responsive mobile app and is considered ideal for freelancers and small players in the business industry. This offers great customer support because the business owner can get in touch with experts through phone, online, and video tutorials. The experts can also respond to reviews, which show proactive customer support ensuring satisfaction.
4. Zoho Books
One of Zoho’s strongest selling points is their customer service and its easy to use interface. Zoho offers 24/7 phone and email support but you can also find help in their knowledgebase and customer forums. The dashboard of this accounting system has no clutter enabling you to find the option or information you need, easily. The icons that are not in use collapses, giving you more screen space. Zoho also offers a free webinar to help their customers adapt easily to the software.
Hailed as the “Best Free Accounting Software for Small Businesses”, Wave is best for businesses that are just starting out or plan to remain small in the long run. Wave is easy to use and you can get started in seconds. You can customize your account and a simple dashboard is where you’ll put all your data in. It also automates some operations like billing and invoicing, saving you time and effort. Since Wave is free accounting software, it has limitations unlike the paid ones, but if you are self-employed, Wave is definitely one of the best out there.
Like Wave this is also a free accounting system that suits small businesses. This is designed to be easy-to-use but powerful and flexible. GnuCash allows you to track bank accounts, stocks, cash flow, and expenses. This is based on professional accounting standards to ensure accurate reports.