Choosing the best accounting software for small business in 2014 can be a daunting task. With so many options available, it can be difficult to know where to start. Fortunately, we’ve done the research for you and compiled a list of the top accounting software programs for small businesses.
Features to Look for in Accounting Software
1. User-Friendly Interface
The best accounting software for small business should be easy to navigate and use. It should also provide clear instructions on how to perform tasks and generate reports.
2. Invoicing and Billing Features
Look for software that allows you to create and send invoices and bills to clients. It should also offer payment tracking and reminders to ensure you get paid on time.
3. Expense Tracking and Management
The software should allow you to track and manage expenses, including purchases, receipts, and bills. It should also provide reports on expenses by category, vendor, and project.
4. Payroll Management
Choose software that can handle payroll processing, including calculating taxes, generating pay stubs, and tracking employee hours and benefits.
5. Inventory Management
If your business sells products, choose software that can track inventory levels, generate purchase orders, and manage stock levels.
6. Reporting and Analysis
Look for software that can generate financial reports, such as profit and loss statements, balance sheets, and cash flow statements. It should also allow you to customize reports to fit your business’s unique needs.
FAQ
1. How much does accounting software for small business cost?
Prices for accounting software vary depending on the features you need and the size of your business. Some programs offer a free trial period before requiring a monthly or annual subscription fee.
2. Can accounting software integrate with other business tools?
Many accounting software programs can integrate with other business tools, such as CRM software, project management software, and payment processors.
3. Is accounting software compatible with Mac computers?
Most accounting software programs are compatible with both Mac and Windows computers, but it’s important to check before purchasing.
4. Can accounting software be accessed remotely?
Many accounting software programs offer cloud-based options that can be accessed from anywhere with an internet connection.
5. Is it necessary to have an accounting background to use accounting software?
While an accounting background may be helpful, most accounting software programs are designed to be user-friendly and do not require extensive accounting knowledge.
6. Can accounting software be customized to fit my business’s unique needs?
Many accounting software programs offer customization options to fit the unique needs of your business, including custom reports and invoice templates.
7. Can I import data from my current accounting software?
Most accounting software programs allow for data import from other programs, but it’s important to check for compatibility before making the switch.
8. What type of customer support is offered with accounting software?
Most accounting software programs offer customer support via phone, email, or live chat. Some programs also offer user forums and online tutorials.
Pros
Accounting software can save time and improve accuracy by automating tasks and generating reports. It can also provide valuable insights into your business’s financial health and help you make informed decisions.
Tips
Before choosing accounting software, consider your business’s specific needs and budget. Look for software that offers the features you need and is user-friendly. It’s also important to ensure the software is compatible with your computer and other business tools.
Summary
Choosing the best accounting software for small business in 2014 requires careful consideration of features, compatibility, and pricing. Look for software that is user-friendly, offers the features you need, and is compatible with your computer and other business tools. Accounting software can save time and improve accuracy, providing valuable insights into your business’s financial health.