The Best Accounting Software for Small Businesses
What are current expense tracking practices like in your business? How do you record the details of your day-to-day activity? Do you maintain separate banking accounts for your business transactions?
Is your accounting software is nothing more than a pile of wrinkly receipts that relies heavily on your memory? Read on to discover the 4 best free and low-cost small business accounting softwares.
4 Best Accounting Softwares for Small Business Owners
1. Freshbooks ($15-$50 per month)
Freshbooks, is an accounting software that is excellent for keeping track of income and expenses and sending invoices. Through the software, you are able to easily create professional invoices with your logo and branding to send to clients. Not only that, it also provides the capability to accept credit card payments.
Freshbook’s easy payment feature allows for a convenience to your clients you won’t find in other small business expense tracking programs.
The project management feature is the strongest selling point of this essential small business expense tracking app. With this feature, business owners can collaborate with their team, contractors, and clients in real time. This makes it easy to manage projects and deadlines in your business. What's more, you can try Freshbooks FREE for 30 days!
2. Quickbooks ( $5 - $28 per month)
Just about everyone is familiar with this next one. QuickBooks is the industry standard for small business accounting software. This powerful program can be used to track inventory, create invoices, and track and record expenses.
Small business owners will also find the ability to track mileage, quarterly taxes and payroll especially attractive. All your expenses neatly packaged together in a user-friendly interface for your viewing pleasure. One common pain-point Quickbooks easily addresses is those pesky tax responsibilities. Imagine the ease of issuing W9s and 1099s for contract workers and affiliates.Think of those webdesigners, SEO optimists, and virtual assistants you paid for work during the year.
Do you use an accountant or have a system in place ensure you are meeting your tax responsibilities?
3. Xero ( $6 - $40 per month)
Xero is an great online accounting software that is used to track and send invoices. Features we love include the ability to upload logos and design in their system to create customized and professional invoices for your clients.
A pain-point this program effectively addresses involves reigning in massive invoice lists. Within the Xero program, you are able to automate recurring invoices, send bulk invoices, and replicate past invoices. It makes managing your client base that less overwhelming, and that peace of mind alone is well worth the price.
Claiming and tracking expenses is a breeze with the simple intuitive interface. Small business owners can access their profits at-a-glance via the dashboard. Introductory prices are valid for six months, then there is a slight increase in the monthly fee. As small business apps goes, this one is pretty solid.
Wave is a completely free online small business accounting software designed specifically for non-accountants. The program is really intuitive. It can be used for a wide variety of business purposes. Wave allows the capability of sending professionally designed invoices, tracking the status of payments, and connecting bank accounts.
Payments are able to be transferred to your bank account in as little as two days! Their cloud-based system is secure and able to be accessed from anywhere in the world. This program is great for business owners looking for a small business tracking software with some lite bells and whistles. Did we mention it was free?!
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