Accounting is a business process of recording and reporting the company’s financial information. Previously, all companies are required to have their accountant – in-house or outsource. But with the era of internet and all sorts of tech inventions, accounting has been easy and can be performed by non-accountants.
Below is the various accounting software that makes it for small business owners to do their own recording of financial information:
Quickbooks Online
Quickbooks Online is regarded as the standard small business accounting and bookkeeping software these days. It offers a lot of features and bookkeeping functionality for various business needs. Moreover, it’s easier to choose and pay the features you think you need for your business purposes. Some of them are the following:
- Payroll
- Invoicing
- Expense tracking
- Managing bills from suppliers and vendors
- Inventory tracking
Additionally, you can connect your bank account to Quickbooks Online and be able to download an categorized your account activity. Price ranges from $15 to $40 monthly.
IRS2Go
IRS2Go is a software that allows users to make tax payments, get tax preparation assistance, and check the status of the return.
Freshbooks
With Freshbooks, you can get every feature no matter which plan level you purchase. If you want to get the simplest accounting software today, this one’s for you. It focuses on small business accounting. The web-based accounting software can be used in any operating system or browser. It helps in creating invoices and allows you to collect or receive payment online. Moreover, Freshbooks has built-in time tracking and allows the user to invite team members or clients under the Project feature. You can get Freshbooks for $13.50 monthly on its Lite Plan.
Sage Accounting
If you’re just one-person business, Sage Accounting should be your accounting tool. For the price of $10 a month, you can get income recording and bank reconciliation performance. To upgrade the application with features of overviewing business’ financials, forecasting cash flow, and billing vendors, you just need to pay a low price of $25 a month. Sage Accounting is helpful for small companies working with freelancers and contractors.
Xero
Forbes hailed Xero as the “World’s Most Innovative Growth Company” in 2014 and 2015. It is accounting software designed for international small businesses. This cloud-based accounting software is a great aid in simplifying complex financial steps while managing business transactions. Other accounting features are creating invoice, multi-users for free, multi-currency, more than 500 third-party applications and mobile-presence. Xero also provides self-generated bank account feeds and business reporting to better manage the business accounting.
Zoho Books
Zoho Books is a bookkeeping application under the Zoho collections. You can get time-tracking feature and other features that are great for selling both products and services. Price monthly ranges from $9 to $29.
TurboTax Self-Employed
In business accounting, filing taxes is important at it could be the tedious part. With TurboTax software, it can make filing taxes easier with its thorough process. Take a picture of your tax documents and fill in the blank spaces. The software will check the tax deductions such as a depreciation and tax credits. If you want live online support plus QuickBooks integration, the price is $119.99.
Sighted
This software is also designed for small business owners and start-up companies who need accounting help. It helps the freelancers and solo entrepreneurs with their invoices and quotes that can customized. It can also track expenses, integrating online payments system, and managing their client’s and merchant’s information.
Sighted is full-suite accounting software that offers simplicity, power, and affordability. It doesn’t require users to tie up on long-term contracts. Users can choose between monthly, quarterly, and annual payment. The price starts at $4.99 monthly, providing the following services:
- Unlimited invoices, quotes, and receipts
- Unlimited expenses
- Single user access
- 100 client capacity
- Online payments systems
- Access to profit & loss reports
Wave Accounting
If all you’re looking for is a simplistic, low-cost accounting tool, start with Wave. If you find that you need more power, try another option.
If you want free accounting software that is reliable, then Wave Accounting is the one for you. This modern accounting option offers a unique business model despite being free. You may want to ask why it is free. It’s because the software tries to connect businesses with services that they would like to avail. The features of the accounting software are:
- Invoice creation
- Payment acceptance
- Connecting your credit card and bank account
- Report and balance sheets generation
If you to avail payroll support, you have to pay $15 and $4 fee for employee monthly.
Momenteo
Momenteo’s goal is to make freelance accounting easier and simple. This accounting software was created by freelancers. It allows the users to manage without sweat the clients, expenses, invoice, as well as travel related accounting.
AdminSoft Accounts
This accounting software is perfect got those small business owners who don’t tend to work like accountant. It is a toolkit for company owners created by other business owners. AdminSoft Accounts offers a user-friendly interface without any jargons that are confusing to owners without accounting experience. The accounting software helps in handling invoice and statements. It also provides purchase orders, remittance advices, budgeting, stock control, and some payroll functions. You can get it for free.
