Starting a business in Indiana or elsewhere is challenging. Millions of businesses came before you, therefore, you have a huge responsibility on your shoulders to survive the competition and emerge successful.
For your Indiana small business to grow according to plan, you need to nurture it from the start. Make sure that you keep an eye on every aspect of your business, whether it’s marketing, product research and development, human resources, finance, operations management and others.
However, one of the key areas that you need to focus your attention on is financial management. Accounting and bookkeeping are essential skills that you have to learn so you can manage your Indiana small business without any glitches. Cash flow is the heart of business, it can either make or break you. You need to create an efficient and organized accounting and record keeping system that will enable you to enter, monitor and access data.
If you have little to no experience with accounting, you can seek the assistance of an Indiana accounting software to make things easier for you. A small business accounting software will still allow you to be hands-on, the difference is that, you’ll be able to use various time-saving tools and services to make the job easier. To help you get started, here are the top 5 accounting software solutions that you can try!
FreshBooks is a small business accounting software designed for small business owners like you. The accounting software has assisted millions of entrepreneurs make accounting easier, faster and more secure.
FreshBooks is also dubbed by Forbes Magazine as “incredibly user-friendly” as evidence by its intuitive, but user-friendly and modern features.
Here’s a list that will show you some of FreshBooks excellent accounting features and services:
Owned by Intuit, QuickBooks Online is one of the longest running accounting software options in the market. It is popular worldwide and is used by small and large businesses, accountants, professionals, educational institutions, private companies, banks and many others. With over 30 years of experience in servicing businesses, QuickBooks is considered the pioneer accounting software.
QuickBooks Online has plenty of features that can help you, some of them include the following:
Xero is another excellent accounting software trusted by thousands of small businesses. Founded in 2006 in New Zealand, Xero aims to deliver quality services at an affordable price. Often dubbed as the “best QuickBooks alternative”, Xero is an efficient software even in its own right.
Small businesses, accountants and bookkeepers are part of over 600,000 Xero subscribers worldwide. The accounting software has great features that you can try, here are some of them:
Zoho Books is a newer class of accounting software, but it’s slowly being considered as one of the best. Zoho Books is an easy-to-use, small business accounting software designed for small business owners to help them manage their finances and stay on top of their cash flow.
This cloud accounting software has the following features:
LessAccounting promises to make your life easier if you choose to use the software. The accounting software offers simple, easy-to-use features yet a comprehensive approach to business accounting.
Once you subscribe with LessAccounting, you’ll be able to take advantage of a 15-minute introduction on how to do bookkeeping for your Indiana small business.
Tracking and recording your startup’s finances is not a mandatory requirement when starting a business in Indiana, but it is highly recommended.
If you have an accounting and bookkeeping system in place, you’ll be able to stay organized and not have to deal with unrecorded business finances that makes tax period even more difficult. Account every single cent and record them efficiently to make things easier for you during tax time.
The lack of experience is not an excuse to keep your business finances unorganized. If you have enough financial resources, you can hire an accountant to do the job for your, however, if you need a more affordable and efficient method, you can use a small business accounting software to do the job.