There are plenty of accounting software available in the market and finding the right one can be a huge task. What software one company may be using may not work for another one. There are plenty of factors that companies have to consider when choosing accounting software to use for their business. These should include how big the company is, the flow of income, the level of experience of people using the software, the budget that the company has, and the tasks that need to be done. Some owners of small business try out a number of accounting apps first before they are able to land on the one that fits them best. There are accounting apps that offer trials so small business owners can try them out without having to worry about expenses until they are sure of investing in it.
What are the benefits that a small business can get from using accounting software?
Before, a small businesses tended not to purchase accounting apps because most of them were quite complex and difficult to use. These apps were mostly made and designed to work best for large companies. It is a good thing though that developers of these accounting apps have realized that small businesses also need software. Many of the accounting software that are available for small business have been marketed to be inexpensive. There are even some that are free to use. These accounting apps have been very helpful for small businesses. They have been made things easier like managing business finances, assistance with bookkeeping, and make things faster for tasks like payroll, inventory, and invoicing. There are also apps that can help with reporting, tracking the cash flow, and monitoring profit and loss of the business.
Accounting software for small businesses
• FreeAgent – This has been designed to be used by small businesses and freelances. It helps with regular admin tasks that include time tracking, expense management, and invoicing. It is a software package offering cloud accounting. It allows users to have invoice reminders and be able to upload receipts as images. It is for £19 per month for sole traders. • QuickBooks– Intuit developed this cloud-based app. Freelancers using this can use the basic package known as Self Assessment which allows them to track their income as self-employed. Small businesses can use it for payroll and VAT. It also has reporting tools and monitoring tools. It is £8 per month for the Self Assessment pack. • Xero – It helps with tasks like inventory, expenses claims, payroll, and invoicing. It can also import data for PayPal, credit card and banking and can be used on Android and iPhone. Prices start from as low as £10 per month. • Zoho Books – This can be integrated with other apps developed by Zoho. It helps with track inventory, sorting of expenses, and invoicing. It is cloud-based but it still has to develop a feature for payroll. It can be connected to a person’s bank account to see real-time cashflow. It starts from £6 per month. • FreshBooks – This has an easy interface and does not use jargon. It has been made to help with accounting tasks of small businesses and freelancers like expenses tracking and invoicing. It can also be integrated with Zendesk and PayPal. The Lite package is for £11 per month. • Sage Business Cloud Accounting – It is cloud-based and is designed for small business use. It helps with regular tasks like payroll, invoicing, and cashflow. It starts at £12 per month. • SlickPie – This is designed for small businesses and makes it easy for users to access it anywhere they wish to work since it is online. It helps with invoicing by offering pre-set options or customizable invoices. It also helps with document management, and online billing. Users can also create reports and take advantage of tax management services. And best of all, you can get it for free. • Kashoo – This accounting program can be downloaded via the Apple App Store and can be used on the iPad, the iPhone, or the web. It is cloud-based and designed for small businesses. Users can use this for invoicing, finance management, expenses management, cash management, bank reconciliation, and report generation. There are also payroll services, spending management services, and tax management services available. It is for $12.95 monthly.
These are accounting apps that small businesses can try out and see if these could work for them. There are also other free accounting software that they can try –GnuCash and Wave Accounting – which have been designed to be good for startup businesses.
published under Business Address Guides
