Accounting records are an integral component of any successful business, and accounting software allows you to keep accurate accounts by tracking receipts, invoice clients and monitoring profits and losses. Many also enable uploading expenses so that a comprehensive picture can be constructed of your finances.
The top small-business accounting apps include features like client collaboration, unlimited users and inventory management. Furthermore, these applications allow you to reconcile bank transactions as well as automate certain tasks.
User-friendly interface
The best accounting software programs are created to be user-friendly and straightforward to navigate, offering free trials so you can evaluate them before committing. Some even feature mobile apps that make managing business finances on the go much simpler.
Many programs are tailored towards small business owners, while some also contain features useful to contractors or freelancers. Brightbook is one such program which offers invoicing and payment reminders specifically for freelancers and independent contractors alike. Its user-friendly interface gives an immediate picture of cash flow while making modifications simple and painless.
Sage Business Cloud Accounting may also be suitable for contractors. With its intuitive user interface and affordable price point, its price range makes it accessible for small businesses. Furthermore, there’s even an app available to manage expenses and time tracking – though unfortunately without built-in mileage tracking which would be useful for contractors who travel regularly for work.
Automation
An effective accounting app should offer automated features to assist small business owners in keeping an eye on their cashflow. Furthermore, reporting tools should help guide business decisions. Furthermore, tools for tax compliance and inventory management may also be included within the app.
Many of these apps offer mobile interfaces that work across platforms and allow you to upload expense receipts automatically into your account. Some even come equipped with mileage tracking capabilities so that you can keep tabs on travel costs.
Two top accounting software apps for small businesses are Intuit QuickBooks Online and FreshBooks, both user-friendly with comprehensive accounting automation features; their pricing plans differ significantly; FreshBooks’ lower price point makes it a good solution for entrepreneurs searching for an economical alternative with fewer features than QuickBooks; additionally, FreshBooks comes with a free trial period to test it out before making your final decision.
Integration
Integrated accounting software saves teams time by making it easy for them to utilize other business programs without switching platforms. For instance, the best accounting programs integrate seamlessly with point-of-sale systems, payroll processing services and customer relationship management platforms; making employee use simpler while cutting down training time.
Accounting software’s integration with online payment gateways offers businesses another important benefit, helping them accept payments in different currencies while automatically tracking tax rates. This eliminates manual entries into spreadsheets which often leads to costly errors.
Apart from being integrated with other apps, an accounting app should support multiple languages and allow users to create custom fields for data entry. Furthermore, its customizable dashboard should help accountants and managers monitor the financial performance of their business’s financial transactions. Finally, such an accounting application should offer free trials with money-back guarantees attached.
Reporting
An accounting system can help you track cash flow and stay on top of things, generate automatic reports, and make informed decisions to steer your business in the right direction.
An accounting app can assist with creating professional invoices, recording incoming and outgoing payments, tracking past-due receivables, managing inventory, reconciling bank accounts and streamlining tax management – among many other functions. Some programs even feature functionalities like FIFO/LIFO inventory reporting as well as point-of-sale integration and batch management capabilities.
Intuit’s QuickBooks is one of the leading accounting apps for small businesses, offering ease-of-use on both desktop and mobile versions, including GPS tracking capabilities and mileage tracking features. Other benefits include tracking mileage and sending estimates via text message or email for signature, as well as automatically recording GPS data.
