Starting a business in Illinois requires your full attention. As you build and manage your Illinois small business, you’ll realize how much work it needs.
One of the most difficult things that you need to do when running your startup is keeping track of your expenses and finances. Without proper accounting and bookkeeping, you’ll lose sight of your financial situation and everything that you’ve worked so hard for.
Financial management is a big factor in the success or failure of your Illinois small business which is why you need to learn the skill of accounting and bookkeeping.
However, it’s not for everybody and the lack of experience can hinder you from properly performing accounting to your business. If you want to stay hands on, but receive some sort of assistance, you can always ask assistance from accountants, however, this can really be an expensive option.
If you want an affordable, efficient and quick way to account all your business expenses, you can use an accounting software. A small business accounting software can do wonders for you and your business and if you’re planning to use one, here are 5 of the best accounting tools that I highly suggest!
FreshBooks is one of the most popular accounting software solutions in the market today. With its modern and intuitive accounting features, it is becoming the most sought-after accounting software among entrepreneurs.
Perfectly representing innovation and practicality, FreshBooks is dubbed by Forbes Magazine as “incredibly user-friendly”.
Some of its excellent features include customizable invoices, time tracker, expense tracking tool, automated financial reports and statements, access to a daily dashboard that displays and captures basic and expense information.
QuickBooks is the most established and experienced in the online accounting industry. It has an incomparable track record spanning 30 years and still counting. As a pioneer software, it is rated the number one small business accounting software for the majority of entrepreneurs around the world.
Widely used by small and large businesses, accountants, professionals, educational institutions, private companies, banks and many others, QuickBooks has cemented its place in the market, creating a strong presence worldwide.
As the longest running accounting software, you can use QuickBooks features which have been used by many business owners for many years. Some of them are as follows: automated financial reports, bank reconciliation tool, third-party integrations, multiple user interface, mobile app, easy-to-use invoicing tool and free upgrade of your selected plan.
Like QuickBooks, Xero is also an experienced and excellent software which is why it’s on this list. Founded in New Zealand in 2006, the accounting software has assisted thousands of small business owners with their accounting and bookkeeping tasks.
To deliver the best service to their clients, Xero updates and improves its features every year. Some of its superior features include over 400 business app integrations, free QuickBooks conversion tool, built-in timesheets, multiple user interface and professional invoices creator.
Zoho Books is a fast growing accounting software that ensures clients of fast and efficient service. With its modern and advanced accounting features, you’ll be able to keep track of your business’s finances efficiently. Apart from being one of the best, it’s also easy to use for both newbies and experienced business owners.
With its affordable pricing, you can make use of features such as a time-tracking tool, invoicing tool, multiple-user support, expense tracking tool, financial reports, tax management system and multi-country and multi-language support.
LessAccounting is one of the newest class of accounting software options used by many entrepreneurs to account and record their business’s finances. The accounting software is designed for small business so every feature and service is tailored to meet your needs.
If you subscribe to LessAccounting, you’ll be able to use the following features: mileage tool for outside work, hundreds of templates, invoice tool that allows you to create and customize any type of invoice, import and financial data tool, automated financial reports and statements and business applications integration.
Freelancers, small businesses and big businesses can subscribe to LessAccounting for $20, $36 and $54 every month. You can also use the accounting software for 14 days free of charge. Learn more about LessAccounting by reading our complete review or by visiting LessAccounting.com.
Monitoring, tracking and recording your company’s expenses is not a mandatory requirement when starting a business in Illinois, however, it will be the most useful thing that you can do to stay organized all throughout your business’s existence, especially during tax period.
If you try your best to stay as organized as possible by diligently keeping an eye of your inflow and outflow, it won’t be as difficult.
If you don’t have any experience and you plan to use an accounting software instead, you’re on the right path. Numerous accounting software solutions are offered online so you need to choose the best one for your business.
You can take into consideration the credibility of the accounting software, track record, features and pricing. Good luck on choosing the best accounting software for your Illinois small business!