Nowadays there are several options to choose small business accounting and payroll software in the market. So it is a little difficult to know which one is simple yet best fit for your business. To resolve this problem in this tutorial, we have compared some of the popular accounting software with each other and listed them in the top 8. So that, you can know, and get the idea about the best small business accounting software for self-employed.
Advantages Of Accounting Software
With the help of accounting software, there are lots of tasks done easily and quickly. List of Some advantages are:
- Time-Saving: One of the most important benefits of using accounting software i.e. it saves lots of time over manual bookkeeping. We can manage all accounting data within minutes.
- Financial Statements: In an electronic bookkeeping framework, monetary articulations for any time span can be built with the ease of a catch.
- Minimize Errors: This is a valuable benefit, mainly when you have detailed invoices where hours or particular items are billed at various prices. Once a system is set up correctly, you have to just pick and select items to be an invoice and the rest is done for you. There are many low risks of lapse and mistakes in accounting software.
- Software Excels: Accounting software excels at examining your business practices and letting you instantly identify how money flows through your operation.
Top Small Business Accounting Software
There is so much accounting software available in the market but here we are discussing the best accounting software.
4. Zoho Books
6. Zoho Invoice
7. Infor ERP Distribution
QuickBooks is the best online accounting software for small-sized businesses, thanks to its base, flexibility, and extensibility. It is easy to use, well designed, and built to serve a wide variety of users, but it’s also pricey.
This is one of the simplest accounting software and it is popular software.
Features that Makes QuickBooks Unique from Others
- Accounts Management: The software gives users access to accounting data and also gives permission for the creation, editing, sharing, and duplication of the same with related parties.
- Online Accessibility: This is a wonderful feature of QuickBooks users can log in to the system wherever there is Internet access without the requirement for any other software.
- Security and Backups: All accounting data is securely saved in the cloud. These data can be access and export to Excel spreadsheets.
- Support and Upgrades: All subscription packages come with support from the time of set up. Daily updates and upgrades are also provided by this software.
It is available with the QuickBooks Online subscription plan, QuickBooks Desktop subscription plan and in the free trial.
FreshBooks is also one of the best accounting software. It helps users address recurring invoices and provides subscription easily. FreshBooks supports online payment collection by credit cards, Google Checkout and PayPal. This software combines seamlessly with known business purposes, allowing for smooth processes.
FreshBooks Advanced Unique Features
- Simple and Powerful Solution: FreshBooks latest version is specially designed to provide a simple interface for users but advanced features were incorporated in the platform. A smooth interface now comes with the software and collaboration among team members is now supported. It means an enhancement in work quality.
- Online Payment: This software accepts a variety of payment gateways.
- Mobile Optimized: FreshBooks comes with mobile add-ons for devices running on Android and iOS, which helps to enable users to access data anytime, anywhere.
Xero is accounting software mainly known for having reform accounting. This software developed to provide the best user experience possible, the solution is simple to use, giving tough accounting tasks like double bookkeeping simple even for new users.
Xero Unique Features
- Easy Set up: This software provides simple set up and takes care of all transactions and contacts, all from a single page.
- Transactions made easy: All transaction forms that the system generates provide users with smarter transaction experiences.
4. Zoho Books
Zoho Books is smart accounting software specially design to handle small-sized business cash flow and finances. This software is popular for its easy to use interface, helping users conceive smart business decisions. The product does not only give hassle-free accounting but excellent support, uptime, and security as well. It is able to send customers professional invoices and even accepting payments online.
Unique Features Of Zoho Books
- Automatic Bank Feeds: Zoho Books can imports all credit card and bank transactions, and reducing the need for manual data entry. These data are besides categorized in accordance with bank rules.
- Automatic Payment Alerts: With the help of this software users can come up with messages for clients, and reminding them to pay on time and set their frequency that is suitable for both parties.
FreeAgent is full of a rich feature which is helpful for small businesses and freelancers. The software comes with lots of tools designed to let you efficiently handle all necessary financial responsibilities and processes like:
- Bank transactions,
- Time tracking, taxes,
- Estimates and invoices,
- Cash flows,
- and your project’s financial achievement.
Features Of FreeAgent
- Expense Tracking: The software provides you the ability to track your businesses’ expenses with the use of bank provisions and imported bank statements as well as attach expenses to specific projects when billing customers.
- Built For Small Business: This software specially designed for small-sized businesses as well as contractors and freelances to providing them all accounting and bookkeeping tools they want.
6. Zoho Invoice
If you want a complete, modern invoicing solution for your small business, then Zoho Invoice is the best accounting software for you. Zoevo invoice allows you to send invoices using different currencies and fully localized using your customer’s local language. It has been packaged with any custom-made template or, failing it, you can dynamically customize forms to include more information as you see fit.
Unique Features Of Zoho Invoice
- Provide Client Portal: This software provides a client portal and this thing makes your customers happy because they have online access to all their timesheets, measures and invoices from a single place.
- Support For Snail Mail: For those clients who like the old methods to perform things, Zoho Invoice prints professional-looking invoices, has them inside envelopes and sends them to the post office for you.
7. Infor ERP Distribution
Infor ERP Distribution is a complete solution that manages your small business by matching your particular business needs with its reliable bookkeeping and accounting tools, order, purchasing and inventory management, rebate claim management, and a module to manage overly complex requirements. It also provides you the option to pick from among a set of value-added services as your company needs.
Unique Features Of Infor ERP Distribution
- Quick Implementation: With the help of various simulation tools, you can see your results very shortly and it will increase work productivity.
- Strong Security and Solid Reliability: Infor ERP does the strongest security monitoring and enterprise-grade rules to safeguard the integrity of your data.
ChargeOver is a cloud-based software that is used for billing customers and collecting payments from them. The software is design with simplicity in mind, a characteristic that is best if your business wants do not require more powerful but also extra complex application packages. It capably manages subscription billing and other kinds of recurring billing.
Unique Features Of ChargeOver
- Multiple Billing Methods: You can choose for metered billing, recurring level rates or limited billing cycles.
- Never Miss Payments Again: Set up automatic missed payment alerts or failed charges retries, with action choices.
- Maintain Accounts Effectively: Manage all tasks such as payment information, reminders, overdue invoices or plan changes properly.
In this blog, we have discussed all the unique features of the top 8 accounting software for small businesses. First, you need to find out the requirement of your business then compare all the above accounting software with your requirements. If anyone of the best fits your requirement then use the accounting software to perform your daily accounting activities. The above-mentioned accounting software will make your work very faster and accurate.