As a small business owner, taking care of the finances can be daunting. With so many accounting software options available, it can be challenging to find the right one for your business. In this article, we will discuss the best online accounting software for small business in 2016.
Online accounting software is a web-based program that allows you to manage and monitor your business finances from anywhere with an internet connection. It eliminates the need for manual data entry and provides real-time financial information, making it the perfect solution for small businesses.
Benefits of Online Accounting Software
With online accounting software, you can easily track expenses, generate invoices, manage payroll, and reconcile bank accounts from anywhere. It also allows you to share financial information with your accountant or bookkeeper in real-time, making it easier to collaborate.
Top Online Accounting Software for Small Business in 2016
1. QuickBooks Online – QuickBooks is one of the most popular accounting software for small business. It offers a wide range of features, including invoicing, expense tracking, and financial reporting. It also integrates with other business tools such as PayPal and Square.
2. Xero – Xero is a cloud-based accounting software that provides a user-friendly interface and a wide range of features. It offers invoicing, expense tracking, and bank reconciliation. It also integrates with over 500 business apps.
3. FreshBooks – FreshBooks is a cloud-based accounting software that is perfect for small business owners who need to manage their finances on the go. It offers invoicing, expense tracking, time tracking, and project management. It also integrates with other business tools such as PayPal and Stripe.
4. Zoho Books – Zoho Books is a cloud-based accounting software that offers invoicing, expense tracking, and financial reporting. It also allows you to manage your inventory and track time. Zoho Books also integrates with other business tools such as PayPal and Stripe.
5. Wave – Wave is a free accounting software that offers invoicing, expense tracking, and financial reporting. It also allows you to manage your accounts payable and accounts receivable. However, it does not offer payroll management.
6. Kashoo – Kashoo is a cloud-based accounting software that offers invoicing, expense tracking, and financial reporting. It also allows you to manage your accounts payable and accounts receivable. Kashoo also integrates with other business tools such as PayPal and Stripe.
1. Is online accounting software secure?
Yes, online accounting software is secure. Most providers use encryption technology to protect your financial data.
2. Can I access my financial information from anywhere?
Yes, you can access your financial information from anywhere with an internet connection.
3. Can I share my financial information with my accountant or bookkeeper?
Yes, online accounting software allows you to share your financial information with your accountant or bookkeeper in real-time.
4. What is the cost of online accounting software?
The cost of online accounting software varies depending on the provider and the features you need. Some providers offer free plans, while others charge a monthly fee.
5. Can I integrate online accounting software with other business tools?
Yes, most online accounting software providers offer integration with other business tools such as PayPal and Stripe.
6. Can I manage payroll with online accounting software?
Yes, some online accounting software providers offer payroll management as a feature.
7. Is online accounting software easy to use?
Yes, online accounting software is designed to be user-friendly and easy to use.
8. Can I try online accounting software before purchasing?
Yes, most online accounting software providers offer a free trial period.
Pros
1. Real-time financial information
2. Easy to use
3. Accessible from anywhere
4. Integrates with other business tools
5. Secure
Tips
1. Choose an online accounting software that meets the specific needs of your business.
2. Look for software that integrates with other business tools.
3. Consider the cost of the software before making a purchase.
4. Take advantage of free trials to test out the software.
Summary
Online accounting software is a web-based program that allows small business owners to manage their finances from anywhere. The top online accounting software for small business in 2016 includes QuickBooks Online, Xero, FreshBooks, Zoho Books, Wave, and Kashoo. Online accounting software is secure, easy to use, and accessible from anywhere. It also integrates with other business tools and provides real-time financial information. When choosing an online accounting software, consider the specific needs of your business, the cost of the software, and take advantage of free trials to test out the software.