6 Is there a reliable customer support system
Why Are Accounting Software Important?
Most accountants engage in hundreds, if not thousands, of transactions everysingle day. Furthermore, they would have to summarize and present thesetransactions with the highest level of accuracy possible. This rigorousness oftheir job is because, at the end of the period, these reports would be a majorof basis of future decisions.Before accounting software existed, they’d have to record each one thesetransactions of their books manually. Hence, not only was their job severaltimes harder before, the accuracies of their reports were highly unreliable.Thanks to accounting software, all these changed.
QuickBooks is one of the most famous accounting software in the market.California-based financial software company Intuit released the first versionof the software in 1998 to cater for the need of simplified accountingplatforms. Today, QuickBooks, according to the company, holds an estimated 85%of the retail market.> QuickBooks Online lets you see how your business is doing instantly.>> –QuickBooks WebsiteThe software is available in three variants. The first one is the originaldesktop version of the software. The desktop-version offered the user variousservices such as remote payroll assistance and outsourcing, remote accesscapabilities, online banking and reconciliation, electronic payment functions,and more.QuickBooks also has a cloud-based service called QuickBooks online. Theproduct is available to users who are willing to pay a monthly subscriptionwhich provides them exclusive access to QuickBooks online platform.Lastly, QuickBooks Point of Sale is one of the newest offerings of Intuit. Itaims to replace traditional cash registers by offering other functions such asinventory tracking, customer information, sales, and more.
Unlike QuickBooks, the New Zealander Rod Drury and his personal accountantcreated the software more recently in 2006 to compete with what he believedwere outdated accounting software in the market.Xero is offered as a “software as a service” product where users can accessthe platform by paying monthly subscriptions. Since its initial release, theproduct is now available in over 180 countries worldwide.Some of the major offerings of the software are automatic bank and credit cardaccount feeds, invoicing, accounts payable, expense claims, fixed assetdepreciation, purchase orders, and standard business and management reporting.Some of which are not available to others.
FreshBooks Cloud Accounting
FreshBooks caters specifically to smaller service based businesses. Theoriginal version of the software was created in 2003 by Canadian entrepreneursMike McDerment and Joe Sawada. Three years later they rebranded it toFreshBooks to suit the changing taste of internet users.> The all-new FreshBooks is accounting software that makes running your small> business easy, fast and secure. Spend less time on accounting and more time> doing the work you love.>> –FreshBooks WebsiteOne of its biggest advantage over its competitors is its responsive mobileapp. Users can access the software while on the go making the product easy touse for freelancers and small businesses. Furthermore, it also offers somenecessary functions such as cloud invoicing, reporting, and paymentprocessing.
Launched just in 2009, Wave Accounting is one of the newest players in theaccounting software market. According to their website, they manage at least$175 billion in revenue and expenses of their customers worldwide annually.The company initially offered the software as a double entry accounting tool.Wave Accounting Inc. then made available other financial services such asPayments by Wave (credit card processing), Receipts by Wave, Invoice by Wave,Payroll by Wave, and Lending by Wave. All of which is available to anyone forup to a certain number of employees.
Sage 50 Accounting
Lastly, Sage 50 Accounting, formerly known as Peachtree, is offered by thethird largest supplier of enterprise resource planning software worldwidenamely The Sage Group Plc. It is a subscription-based business managementsoftware available to businesses of all sizes.> [Sage] delivers built-in accounting best practices to keep your business> finances on track and help you stay compliant with taxes and reporting> requirements.>> –Sage WebsiteUsers can integrate the software with the functions of Microsoft 365 makingreports easier to process. Furthermore, it offers an integrated data checkerto weed out common mistakes committed by accountants, security functions thatallow the users to track who is entering their database, stock management andmore.What to Look for in Accounting Software (7 Considerations)
6. Is there a reliable customer support system?
Let’s face it—no matter how tech savvy you are, learning a new program can bechallenging. With any new product or service, especially one that cansignificantly impact your business, it’s important to know whether there’seasily accessible customer support. You may have a question about a certainfeature, experience issues connecting your bank account and other apps, orwant to search for a tutorial. Regardless, you want to know ahead of time thatany support you may need is there (before you run into an issue that haltsyour workflow).
Start using accounting software today and see the difference
Are you looking for accounting software? Learn more about how QuickBooksOnline can help you.Simplifying your accounting process is a big step in the right direction tobetter manage your business finances, make more informed decisions, and takethe uncertainty out of tax season. Get started today with a free trial to seehow accounting software can transform your operations and help you focus onpushing your business forward.* * *This content is for information purposes only and should not be consideredlegal, accounting or tax advice, or a substitute for obtaining such advicespecific to your business. Additional information and exceptions may apply.Applicable laws may vary by state or locality. No assurance is given that theinformation is comprehensive in its coverage or that it is suitable in dealingwith a customer’s particular situation. Intuit Inc. does not have anyresponsibility for updating or revising any information presented herein.Accordingly, the information provided should not be relied upon as asubstitute for independent research. Intuit Inc. does not warrant that thematerial contained herein will continue to be accurate nor that it iscompletely free of errors when published. Readers should verify statementsbefore relying on them.We provide third-party links as a convenience and for informational purposesonly. Intuit does not endorse or approve these products and services, or theopinions of these corporations or organizations or individuals. Intuit acceptsno responsibility for the accuracy, legality, or content on these sites.15 Best Small Business Accounting Software for EntrepreneursWhile there is certainly no shortage of small business accounting softwareavailable today, choosing the right tool can be deceptively challenging.With so much overlap in functionality and considerable differences in pricing,it’s all too easy for business owners to end up choosing the wrong accountingtool. After even a modest length of time, switching to another accountingprogram can seem more of a hassle than it’s worth––a great example of the sunkcost fallacy––which makes choosing the right tool in the first placeparticularly important.That’s why we’ve put together this list of the best small business accountingsoftware tools for independent businesses. We’ve separated our list into twocategories: cloud-based web applications, and desktop applications.
5. Sage 50cloud
* Available for: Web application * Price: Plans begin at £65 (approx. US$82) per month * Free trial length: 30 days * Shopify app or integration: NoSage 50cloud Accounting is a comprehensive, cloud-based accounting softwareproduct with extensive customization options and advanced functionality.Image source: Software Advice.The product’s Pro Accounting plan––the least expensive option, available for$50.58 per month––is aimed at smaller, independent businesses. It can handle arange of accounting tasks, including expense management, invoicing, andinventory tracking. Sage 50cloud Accounting also integrates seamlessly withMicrosoft Office.Sage’s other plans offer additional features, such as role-based securityprivileges and account management for multiple companies, but may beprohibitive for smaller businesses with more modest administrative budgets.
9. Accounting Seed
* Available for: Salesforce, web application * Mobile app: Yes, via the Salesforce app * Price: Available by request * Shopify app or integration: NoMany small business accounting tools are standalone programs that exist inisolation from the core of a business. This is most definitely not the casewith Accounting Seed, which integrates tightly with Salesforce to offerinsights into every aspect of your business’ financial operations.Accounting Seed is a cloud-based accounting solution native to the Salesforcecustomer relationship management (CRM) platform that can serve as a single,authoritative source of financial truth for your business. You don’t need tobe a Salesforce customer to use Accounting Seed, as the product is availableas a standalone web application. It’s easily customizable without manual ITdeployments or custom code, making it an ideal solution for business ownerswho lack advanced technical knowledge.Unfortunately, Accounting Seed’s pricing isn’t publicly available, butbusiness owners can contact Accounting Seed directly for a quote.
12. QuickBooks Online
* Available for: OS X, Windows, web application * Price: Plans begin at $25 per month * Free trial length: 30 days * Shopify app or integration: YesIntuit’s QuickBooks Online is a popular bookkeeping tool that can helpbusiness owners handle their accounting quickly and easily.Image source: QuickbooksQuickBooks has everything business owners need to take control of theirbookkeeping. QuickBooks features a clean, simple interface and intuitivereporting, meaning even newcomers can get up to speed quickly. All QuickBooksplans include mileage and expense tracking, sales and tax reporting, and toolsto manage 1099 contractors.QuickBooks’ other plans offer additional functionality, such as inventorytracking, support for up to 25 individual users, and even access to adedicated customer support manager. Plans start at $12 per month.
13. Express Accounts
* Available for: OS X, Windows * Price: Plans begin at $8.83 per month * Free trial length: A free version of Express Accounts is available for businesses with fewer than five employees * Shopify app or integration: NoExpress Accounts is an inexpensive accounting tool for small businesses thatstrips away the bells and whistles of other tools to focus on the essentials.Available for both Windows and OS X, this accounting tool is ideal forsmaller, independent businesses with simpler accounting needs. Users can tracksales and accounts receivable information, record recurring orders and repeatinvoices, and create quotes, sales orders, and invoices.Independent businesses with fewer than five employees can use Express Accountsfor free, though this version does have some usage restrictions. Other plansstart at $8.83 per month when billed quarterly.