As a small business owner, keeping track of your finances can be overwhelming. Thankfully, accounting software has made it easier for businesses to manage their finances and stay on top of their financial responsibilities. With so many options available, it can be challenging to choose the right accounting software for your business. In this article, we’ll explore the best accounting software options for small business owners in 2019.
Accounting software is a computer program that allows businesses to manage their financial transactions, such as accounts payable, accounts receivable, and general ledger. It helps businesses keep track of their financial records and generate reports that can be used to make informed decisions. Accounting software can also automate tasks such as invoicing, bill payments, and payroll processing, which saves time and reduces the risk of errors.
Cloud-Based vs. Desktop Accounting Software
When choosing accounting software, one of the first decisions you’ll need to make is whether to use cloud-based or desktop software. Cloud-based software is hosted on remote servers and accessed through the internet, while desktop software is installed on your computer. Cloud-based software allows you to access your financial data from anywhere with an internet connection, while desktop software offers more control over your data and doesn’t require an internet connection to use.
Features to Look for in Accounting Software
When choosing accounting software, there are several features to consider:
- Invoicing and billing
- Accounts payable and receivable
- Payroll processing
- Inventory management
- Financial reporting
- Bank reconciliation
The Best Accounting Software Options for Small Business Owners
Here are some of the best accounting software options for small business owners in 2019:
- QuickBooks Online
- Xero
- Wave
- FreshBooks
- Zoho Books
What is the best accounting software for small businesses?
The best accounting software for small businesses depends on your specific needs. QuickBooks Online, Xero, and Wave are all popular options for small business owners.
Is it essential to use accounting software for my business?
While it’s not essential to use accounting software for your business, it can save time and reduce the risk of errors. It also allows you to generate reports that can be used to make informed financial decisions.
Can accounting software be used for multiple businesses?
Yes, many accounting software options allow you to manage multiple businesses from one account.
Is accounting software easy to use?
Most accounting software options are designed to be user-friendly and easy to use.
How much does accounting software cost?
The cost of accounting software varies depending on the software and the features you need. Some software options offer free versions, while others charge a monthly or annual fee.
Can accounting software integrate with other business software?
Yes, many accounting software options integrate with other business software, such as CRM and project management software.
What if I need help with my accounting software?
Most accounting software options offer customer support to help you with any issues or questions you may have.
Can I try accounting software before I buy it?
Many accounting software options offer free trials so you can try the software before you buy it.
Using accounting software can save time, reduce the risk of errors, and provide valuable insights into your business’s finances. It also allows you to automate tasks such as invoicing and payroll processing, which frees up time to focus on other aspects of your business.
- Consider your business’s specific needs when choosing accounting software.
- Take advantage of free trials to try different software options before committing.
- Make sure the software you choose integrates with other business software you use.
- Choose a user-friendly software option to make the transition easier for you and your team.
- Regularly review your financial reports to make informed decisions about your business’s finances.
Choosing the right accounting software is crucial for small business owners. Consider your specific needs and look for software that offers the features you need, such as invoicing, payroll processing, and financial reporting. Popular options for small business owners include QuickBooks Online, Xero, and Wave. Don’t be afraid to take advantage of free trials to try different software options before committing.