It has been my experience that one of the more important tools a company can have is accounting software. Some of the best accounting software for small business owners can be found right on the internet if you know what you are looking for. Some of them are better suited for businesses that have low key business model while others are powerhouses meant to take on loads of vital information and help you make it presentable. A lot of companies do not need such a powerful solution, however. It is my opinion that you should make sure you get what you need as opposed to just grabbing the most expensive software on the market. Here are a few examples of some of the solutions that I have found to be useful.
Intuit Quick Books
Intuit Quick Books has four various solutions available for small business owners. Each one is designed with a specific business model in mind. The first is simple and designed to help freelancers and contractors monitor their costs for both personal and business expenses. One of the best features of this particular variation is that it helps you calculate and pay your quarterly taxes. The second allows for a broader range of features including printing invoices and integrating with additional software solutions. It also prints checks and records additional transactions. The third variation goes even further allowing you to auto bill customers and set up a payment schedule for your businesses various costs. The fourth variation does everything listed above, except for some of the freelancer options. In addition to that, it can also handle payroll, track inventory and create budgets.
Sage 50 Accounting Software
Sage.com offers three various software solutions, and I personally like this software the best. I think it’s the best accounting software for small business based mainly on some of its great features. The first solution is basic, but it does just about anything a small business could need like dealing with payable and receivable accounts. The second tier solution offers a more robust feature list. It can track customers, set up budgets and offers some unique features for audits. The last and most expensive solution is all encompassing, and it can do just about anything a business needs. It can handle large amounts of data and gives access to an entire team if necessary. I have found its interactivity within any department to be outstanding.
Xero.com Online Accounting Software
Xero.com offers a pretty basic and simple solution for someone who just wants a little extra help for their business. I think it is a good software for a company that does not have a lot of excess information that needs to be tracked. It can do basic things like create invoices and handle payroll. It has the added benefit of being online so it can be available from anywhere, and the online solution gives you charts and graphs to track some vital logistical areas.
While there are many software solutions available online, the best accounting software for a small business, in my opinion, will come down to how much information you need to keep track of. How large your company and customer base is also should come into play as you decide which is the best accounting software for small business owners.