An small business accounting software is essential if you have no experience on financial management or bookkeeping. Cash flow is the heart of a business and you don’t want to fail just because of a task that you can do efficiently with a little help from an accounting software.
Before you choose any accounting software online, you have to raise this question first – how do you really know if the software is the best? It can be difficult to decide on your own, so here’s a guideline which we’ve prepared especially for you!
Like any other company that offers services, you need to assess whether the accounting software has been in the industry for an ample amount of time to know all the ins and outs of online accounting.
To be able to do this, you have to conduct a little research on every accounting software, see and understand their services and narrow down your list based on the most experienced ones. You can read reviews and user testimonials as well. Track record is everything when it comes to choosing the best accounting software.
Majority of accounting softwares have more or less the same features, however, there are some that have unique services which may not be present in the other. To be able to choose the best accounting software, you have to evaluate what you need first. From that, you can assess every software if its services will actually fit what you need.
These are some of the most practical features that you need to look for if you want to end up with the best.
It would also be good if the accounting software has a free trial or a money back guarantee in place so you can immediately obtain a refund if you’re not satisfied.
To start on the right foot, you need to know how much you’re willing to spend. Once you make up your mind, you can start from there. Search for accounting softwares that are within your budget and choose one that has the best services.
It’s important to look for an affordable software most specially if you’re still starting out. But you have to remember that quality is more important than the price, it won’t hurt if you spend a few extra dollars for something that can truly serve its purpose.
Now that you know what to find in an accounting software, it’s time that you see a list of the best accounting softwares in the entire industry.
FreshBooks is considered as one of the best in the entire industry, it also has the most comprehensive and modern features. Over 5 million entrepreneurs trust the accounting software. If you want to use the best time-saving tools, you have to go for FreshBooks!
Aside from the software’s awesome features, FreshBooks is also one of the most affordable in the market. With its accounting plans priced between $8.96 to $35.96 every month if paid annually, you’ll get more than what you actually pay for!
Some of its top features which are not in other accounting softwares include a download feature, payment history tool, fast billing, daily dashboard and a mobile application.
If you need help with your business’s finances, Xero is an accounting software that you can genuinely trust. Xero accounting has over 500,000 subscribers worldwide and you can be part of this number as well!
The accounting software is highly reliable and with its practical features which include a bank reconciliation tool, inventory management system, payroll management, built-in timesheets and useful resources, Xero accounting will never fail you.
QuickBooks Online is the most experienced in the market, it is widely used by entrepreneurs, organizations and even business professionals. QuickBooks is so efficient that it has gained popularity since its launch.
Like FreshBooks, QuickBooks Online is a highly comprehensive software fit for all kinds of businesses. Some of its most notable features include automated financial reports, collaboration feature, multiple-user interface, free upgrade of your accounting plan and a mobile application which basically has every tool for you!
QuickBooks Online’s plans are priced at $10.36 to $23.97 every month, if you’re an individual contractor, you can also use the software for just $7.99 per month.
Wave Accounting is another competent accounting software, which is why it’s on this list. If you want an accountant-approved software, Wave Accounting is fit for you! You don’t have to worry about anything because it’s proven and tested.
Some of its most unique features include the multi-currency and multi-language support, unlimited expense tracking, bill and invoice reminders, unlimited invoicing and a business payroll system.
Wave Accounting offers their accounting software for free! However, if you want to add premium services, you can do so. The payroll management system and the premium support are worth $19 every month. You can also add a credit card system which has a slightly different payment scheme, the fee per transaction is 2.9% + 30 cents.
Sage One belongs to the newer class of accounting softwares and although it doesn’t have the same amount of experience as other softwares, the good thing about Sage One is that it has one of the most modern features.
Sage One has plenty of outstanding features which includes customizable quotes and estimates, bank integration, share and collaboration tools and multi-currency support. The accounting software has a free version, it also has a paid plan priced only at $5 every month.
Like Sage One, Kashoo is a new accounting software with the most up-to-date features that you can ever find in the industry. Kashoo’s most useful features include a bank reconciliation tool, receipt scanning, quick entry feature and unlimited customer support.
Aside from all these, Kashoo also has a free trial period and a money back policy in place to give you the best accounting service you could ever imagine. Kashoo only has one accounting plan priced at $12.95 every month.
Less Accounting is another great accounting software that you shouldn’t miss! The software is fit for those who are operating small to to mid-sized and even multiple businesses.
Like many other softwares, LessAccounting also has features that truly sets it apart from others. Some of these features include customizable templates, a mileage tool, robust CRM, import data and third party integrations.
LessAccounting’s pricing is a little different, if you’re a freelancer you can use the software for $20 per month and for small to big businesses, the monthly subscriptions are $36 and $54 every month.
All the above mentioned accounting softwares have the best and most unique features in the whole industry, but at the end of the day you only have to choose one – and you need to make a well-informed decision.
Aside from following all the guidelines that I’ve stated above, trusting your gut is also very important. Sometimes, it’s best that you follow your instinct when making decisions. Look into each accounting software based on its features, pricing and overall value. Best of luck!