What is the easiest accounting software to use for small businesses?
What is accounting software?
To track the financial process, business owners or individuals use accounting software to record and report income and expenses.
This is more effective and never causes serious errors with automation, especially for small businesses.
Why Do Small Businesses Prefer Accounting Software?
Most small business owners may not be very knowledgeable about accounting or financial management. So they prefer this software to manage their financial data.
The software helps reconcile data, generate receipts, and integrate with financial data.
Therefore, they do not have to worry about the trading account to balance.
Plus, it saves time and money and improves productivity and performance through financial data transparency.
How to choose the best small business accounting software?
Finding the right accounting software for your business is a daunting task.
Software designed for one business might not be suitable for another.
It depends on the size of the company, the revenue stream, the level of experience of the accountants and the budget of the company.
If you are willing to choose any accounting software, it is always advisable to thoroughly examine some of the features before selecting one.
These are some of the best accounting software, which are distinguished by outstanding features and functionalities and are specially designed for small businesses.
Intuit QuickBooks: Best Overall
QuickBooks is an accounting software released by Intuit.
It has a separate desktop version that you can buy and install, and in 2019 they released the cloud-based system.
Millions of companies use QuickBooks accounting because it is designed for small and medium-sized businesses.
It is very easy to use, and business owners prefer this because they can handle it easily even if they have no accounting experience.
While it comes to price, it is very reasonable.
QuickBooks Accounting features contain:
- With user guides and tax data export, it helps to file quarterly and annual tax returns.
- Integration of financial entities.
- Sales tax calculations and reported tax payments.
- Sort sales and expenses into tax groups automatically.
- Scanned receipts are attached to invoices.
- Generate custom reports with cash flow.
QuickBooks Accounting offers reasonable pricing:
- Simple Start: $10 per month for business beginners.
- Essentials: $17.50 per month to maintain and expand businesses
- Plus: $25 per month to help more set up and manage projects, inventory.
Sage Business Cloud Accounting: Best for Multiple Users
Sage Business Cloud Accounting is a global label that provides online accounting for small businesses.
Designs for Small Businesses, which was established in 1981 in Newcastle, England.
It allows you to select your industry, company scale and requirements. More than three million companies use it.
Without any accounting knowledge, users can use this and set it up for multiple users.
The main features contain:
- Manage business accounting and cash flow.
- Generate and share invoices.
- Available on all devices so you can access from anywhere.
- Automatic entry and synchronization.
- Integration with your business institution and other applications.
- User-friendly dashboard and tax compliance tools.
- Cash flow forecast and inventory management.
- Collaborate with your accountant on any device.
Sage Business Cloud accounting pricing as follows:
- Accounting Startup: $10 per month for entry-level financing to help manage cash flow.
- Accounting: $25 per month for great cloud accounting with billing, cash flow management, and actual receipts.
They currently offer a 50% discount for three months and a free trial for 30 days.
Xero: popular with the best features
Xero is web-based accounting software developed for small and growing businesses.
Small business owners and accountants prefer Xero, which was established in New Zealand in 2006.
Without any accounting knowledge, you can easily set up and use this software.
It is popular for its easy to use panel and can collaborate with multiple users simultaneously.
Small business owners choose this because of the features and ease of use.
Its two-step authentication keeps your data safe and a very reasonable rate for each plan you choose.
The main features contain:
- Generate and send invoices and create an account claim.
- Integration with your business institution and other apps including HubSpot, Square.
- Quick bank reconciliation.
- Active financial reports.
- Secured financial data.
- Collaboration with multiple accounts.
The price of Xero is as follows:
- Early: $5.50 per month, send 20 invoices, enter five invoices, reconcile bank statements, and capture invoices and receipts.
- Increasing: $16 per month, send invoices and quotes, enter invoices, reconcile bank statements, and capture invoices and receipts.
- Established: $31 per month, includes all the features of the Growing tier plus multiple currencies, expenses, and projects.
- Each plan comes with a 30-day free trial for unlimited users.
Zoho Books: The Best in Automation
Zoho was established in 1996 in India and had a corporate office in California.
Their accounting software, Zoho Books for Small Businesses, has outstanding features that allow you to monitor your finances, generate invoices and collaborate with users in real time, and much more.
Zoho includes several products for customer relationship management (CRM), human resource management, and inventory control.
Small business owners gravitate toward Zoho books for automation, bank reconciliation, billing, and more.
App integration allows you to integrate with other software you already use.
It also provides a payroll solution for companies in India.
The main features contain:
- Tax compliance and financial reports.
- Sales and billing management.
- Bank reconciliation.
- portal client.
- Reports and records.
- Automatic tax calculations.
Zoho Books prices are as follows:
- Free: Includes up to 3 users, 1,000 invoices per year, and 1,000 invoices per year with basic features.
- Standard: ? 499/mo billed annually and includes up to 3 users, 5,000 bills per year, and 5,000 bills per year and includes all in free extra features.
- Professional: ? 999/month billed annually and includes up to 4 users, 10,000 bills per year and 10,000 bills per year and includes everything standard plus additional features.
- Premium: ? 2999/month billed annually and includes up to 7 users, 25,000 bills per year and 25,000 bills per year and includes everything in professional features plus extras.
- Elite: ? 4999/month billed annually and includes up to 15 users, 100,000 invoices per year and 100,000 invoices per year and includes everything in premium plus additional features with ‘Advanced Inventory Control’.
- Latest: ? 7,999//month billed annually and includes up to 15 users, 100,000 bills per year and 100,000 bills per year and includes everything in Elite plus additional features with ‘Dedicated Account Manager’.
Your accounting experience doesn’t matter; Any of these simple small business accounting software options will allow you to manage your business accounting and balance the books efficiently.
In short, the decision will depend on your budget and the features and functionalities that your company needs.