5 Small Business Accounting Tools

By | January 27, 2015

Instead of being busy with crunching number, handwritten invoice, spreadsheet, and other financial tasks, these accounting solution will make them easier. Here are 5 popular small business accounting tools that optimize your time in managing business finances. They’re web and cloud-based so you can access them anytime and anywhere.

1. FreshBooks

It’s a cloud-based accounting solution that can be accessed on your desktop and mobile device as well. FreshBooks helps small business owners to get integration with bank account, report generation, invoicing, payroll & payment processing, and time tracking features. It also lets us to get paid faster since enable us to accept credit cards and other payment gateways. FeshBooks is easy to use and provide automatic data backups to keep information safe and secure.

In addition, if your clients need a printed invoice, you don’t have to print and send by yourself as FreshBooks provides this service for a small fee.

You can start your 30-day free trial, then in the following months, pricing starts at $19.95 per month.

2. Zoho Books

It is an online accounting software for adding records like invoices, expenses and payments, and it allows for time tracking. Zoho Books can track cash coming in by making and sending the invoices and cash going out by tracking your vendor balances. Everything is well documented and explained. You can really get started within minutes.

You can also connect your bank or credit card accounts, which automatically categorize transactions. Additionally, you’ll be able to invite alternative users like your adviser or accountant, and integrate with software like Google Checkout, Google Apps, Authorize.Net, PayPal,  and other Zoho business tools, such as Zoho Projects.

Interestingly, your customers can login to see their invoices. And directly after they’ve get the invoice, it’s signed in your invoice history so you will know when they has seen their bill. They can also comment on the invoice if needed.

A 30-day free trial is available. Then, it starts from $24 a month or $240 yearly subscription.

3. Sage One

If all you need is invoicing function, ‘Sage One Invoicing’ could be right for you. For $9 a month you can generate invoices and accept payments online. Or if you need more functions, ‘Sage One Accounting’ which start from $14 a month, lets you view your business finances at a glance, record and categorize income and expense, generate reports and track time.

It may also send the invoices to customers (pending, sent, and overdue invoices), email payment reminders, and settle for credit card payments via ‘Sage Payment Solutions’ or PayPal. Project management features is the most popular one which manage tasks and provide cloud-based collaboration for teams and customers.

You can try it through its free 15-day trial with no credit card required.

4. QuickBooks

It’s the desktop accounting software which are also accessible on mobile devices. QuickBooks is a single solution that serves startup to hundreds of employees, since they offer enterprise solutions. It provides all kinds of accounting tasks, like custom invoices with the corporate logo, make reports with digital receipts, payroll with tax calculations and deductions, syncs with your bank account and credit card accounts so data is always up to date.

It gives you important features like tax reports, device syncing, wire transfer or credit card payments,  and accountant collaboration. QuickBooks allows you to make a list of your vendors. You can also filter them on the status of completed payment or still on your owed.

So far, QuickBooks was the fastest tool in importing transactions. It took only a few seconds, while others needed up to several hours (for a few dozen transactions). QuickBooks also automatically checks for new transactions, which are then easy to find and process.

QuickBooks offers different payment plans, the Essential currently at $18.95 per month, which should be sufficient for small businesses. But if you need more features, like payroll management, you can start with twice the Essential rate, excluded costs for each employee & cost for each state.

5. Xero

Launched as a competitor to QuickBooks, Xero can handle everything from invoices and customer payments to expense management, purchase orders, payroll, inventory tracking, bank account reconciliation, financial reporting and more. A unique selling point is: you can add as many users as you want for free.

Xero can also integrate with a wide range of e-commerce, point-of-sale, customer relationship management (CRM) and other business applications. There’s a 30-day free trial, then prices start at $9 per month.

The Choice Are Yours

After explaining through these 5 small business accounting tools, of course it’s complicated to decide the best tools overally. They have each uniqueness and it all depends on your preference. But, for the beginning, be sure that you gain advantages from their free trial programs.

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