Choosing the best accounting software for your business needs nowadays is more important than ever, especially since accounting and reporting requirements often change.
Accounting software is produced for many purposes, from accounting and budget to transaction management, and reporting requirements for large corporations.
However, today there is various software that can be used for accounting purpose and in this article, we will review the five best accounting software you can use for your business in 2018.
Freshbooks is another wonderful accounting software with a long history that offers several features including billing, time tracking, budgeting, cost tracking, and tracking of customers and employees. You can have a free account with FreshBooks or a paid account.
The Main Features include:
- Receive deposits with deposits
- Receive credit card payments
- Create fast discounts
Freshbooks can handle multiple currencies in multiple languages as well as track outgoing payments and view invoices.
With effective time tracking and a simple and intuitive interface users are able to glean accurate payment information and view integrated payment processing options without any problems.
FreshBooks has a free trial as well as 3 paid plans. The paid plans are Lite, Plus and Premium plan. They cost $15, $25, and $50 respectively. It also has options for specific-use and business-specific applications such as farming.
Xero is software a cloud-based software for small business needs. It is used for accounting and comes highly recommended by top financial advisors in Australia. It’s possible to invite when working with Xero and you can also restrict the access of these users to different areas.
Xero enables you to:
- You can track suppliers and buyers
- Attach documents to your financial information
- Connect from anywhere, at any time
Financial reports can be configured to enable the creating and sending invoices automatically. All of this can be done in a multi-currency environment at the flick of a switch.
Xero enables easy access for multiple users fast, personalised billing with real-time data. It has a complete security and backup suite so you lose nothing in a crisis!
Xero has 5 plans. The Starter plan costs $9 per month, and the Standard plan costs $30 per month. The price of the Premium plan ranges from $70 to $180 per month.
It has a clean interface and includes all the cloud-based bells and whistles for busy bookkeepers. It is easy to integrate with third-party applications, has automatic updates and integrated payroll.
It is relatively easy to use and has great customer support. The only downsides might be internet downtime - and the fact that at the time of writing it does not support exchange trade products.
Wave is a smart accounting tool for small businesses with simple payments, payroll, accounting and much more. At every step of online accounting, Wave is here to help small businesses track their costs and manage their employees.
Some of the main features include:
- Automatic entry
Wave is free - a huge bonus for beginners. It has a simple interface and the configuration is simple. Wave enables the integration of bank and credit card accounts that will automatically import transactions after initial setup.
Wave has easy third-party integration and provides a range of configurable reports. It boasts excellent customer service and is easy to use.
There are some downsides of course, including:
- Limited Reports
- Some features are paid
- Limited integrations and not customisable
If you can live without those things, you have a very capable means of keeping your small business accounts in order.
Zoho enables any business to track all their customer information, sales information, billing, and just about everything they need. Zoho's Small Business CRM is web-based, meaning you only need a laptop and an internet connection to use it at any time.
Here’s what’s in the Box:
- Marketing automation
- Contact management
- Order Management
- Inventory management
- Managing suppliers
- Workflow automation
Zoho CRM helps you interact with your customers to improve your business relationship. It increases productivity by automating data files and provides real-time access to important data
At the time of writing, Zoho offers a free 15-day trial so that you can test its paid plans. Zoho also offers four paid plans namely the: standard, professional, enterprise, and ultimate plan. The plans cost $12, $20, $35, and $100 respectively.
Zoho is highly customisable. Each page, configuration, and design can be tailored to your liking. You can set up social profiles and the price is affordable with a free version available for up to 10 users.
Some downsides are inevitable and include:
- Not being able to schedule events
- Uploading photos from social profiles is impossible
- No colour indicators
QuickBooks is a software used for accounting, and it is among one of the best accounting software for 2018. Working with QuickBooks allows you to access all your data, software, and related tools whenever you need them.
Let’s check out the features, benefits, cost and pros & cons of this amazing software.
- Invoicing and billing
- Customizable templates
- Stock management
- Track inventory
- Real-time monitoring
Quickbooks enable full payment system integration and the ability to managing Payrolls and multiple user accounts with ease.
You have the option of switching currencies and you can easily keep a record of charging costs, send invoices, statements and automate report sending.
QuickBooks has four plans namely; self-employed, simple start, essentials, and. The plans cost $10, $15, $35, and $50 respectively. Certified CPA`s, accountants and bookkeepers rely on quickbooks as their accounting tool. Cloud QuickBooks Hosting on a Citrix Xendesktop VDI accelerates the pace of accountants to do remote bookkeeping that too in a multi user environment.
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