{"id":5546,"date":"2020-07-08T21:49:54","date_gmt":"2020-07-08T21:49:54","guid":{"rendered":"https:\/\/startupsanonymous.com\/?p=5546"},"modified":"2022-03-10T02:08:54","modified_gmt":"2022-03-10T02:08:54","slug":"small-business-accounting-software","status":"publish","type":"post","link":"https:\/\/startupsanonymous.com\/tools\/small-business-accounting-software\/","title":{"rendered":"Best Accounting Software For Small Businesses"},"content":{"rendered":"
Every small business owner needs to manage their accounts properly. Having the right accounting software makes this much easier. Here are our picks for the best accounting software out there for small businesses in 2020.<\/p>\n
<\/a><\/span><\/p>\n As a business owner, paying bills may not be the most fun part of managing and growing your business. Until now!<\/p>\n Melio is the efficient, easy-to-use online accounts payable solution that simplifies bill payments, helps manage cash flow and keeps track of it all in one place.<\/p>\n With Melio, you get flexible bill payment options to pay the way that works best for your business: bank transfers and debit cards for free. You can also use your credit card* (2.9% fee), regardless of whether the person you\u2019re paying accepts them or not. This gives you the freedom to buy what you need now, pay for it later and maximize your cash flow.<\/p>\n Melio offers advanced bill pay options, letting you schedule payments in advance that are paid out at exactly the right time, so you hold on to cash longer.<\/p>\n Best of all, Melio fully integrates with Quickbooks Online and syncs with other accounting software, so you can upload receipts and invoices, make payments and be sure that your books are organized.<\/p>\n Features:<\/p>\n Price:<\/strong><\/p>\n Melio has no subscription or monthly fees and all of the features are free. Melio only charges for premium transactions.<\/p>\n Pros<\/p>\n Cons<\/p>\n <\/a><\/span><\/p>\n FreshBooks doesn\u2019t impose any draconian limits on the user in the way that Xero does. In fact, one of our favorite aspects of FreshBooks is how simple it is to use. The interface is as user-friendly as possible and makes it simple and straightforward to generate customized receipts from your smartphone, tablet, or laptop. You only need the most basic plan, which costs $10 a month, to benefit from the full range of features that FreshBooks offers.<\/p>\n However, FreshBooks<\/a>\u2019 plans do come with limits on the number of clients that you can keep stored in your address book. You can send as many invoices as you like to each client, but you can only store the records for 5 at a time unless you upgrade to a more expensive plan. Like Xero, this means that the lower-tier plans on offer from FreshBooks are better-suited to freelancers that are just starting out or businesses that have just opened their doors. As your business grows, you will want to upgrade to one of the more expensive plans that provides support for 50 – 500 clients.<\/p>\n Not only does Freshbooks<\/a> make it easy to generate and manage invoices, but it is also a great tool for tracking your finances over time. With the press of a few buttons, users can see detailed breakdowns of how much money they have been bringing in, how much they have been spending, and what sort of profits they have been taking home. Users can easily adjust these reports to cover whatever time period they desire and easily compare their performance over time.<\/p>\n Features:<\/b><\/p>\n Price: <\/b>$15.00\/month, 30-day free trial<\/p>\n Pros<\/p>\n Cons<\/p>\n <\/a><\/span><\/p>\n While FreshBooks provides a great user interface, no one has quite been able to replicate the magic formula that QuickBooks has stumbled upon. For many people, QuickBooks is the name in accounting software; they are certainly one of the most prominent forces in the whole industry. There is a reason that the QuickBooks name has become synonymous with small business accounting, it\u2019s because their software ticks all the right boxes and provides an exceptional user experience.<\/p>\n As a cloud-based solution, QuickBooks<\/a> can be accessed from any device with an internet connection. However, there are dedicated apps available for mobile platforms that enable you to manage your account while on the go with ease. It is often the case that the mobile apps these businesses offer aren\u2019t as good as their web-based interfaces. However, QuickBooks is the exception, and the QuickBooks app is the best one that we have used.<\/p>\n Of course, given how much weight the brand name carries and the quality of the service that they offer, QuickBooks charges a premium price compared to its competitors. For any small business that can afford the asking price, QuickBooks is all but guaranteed to handle whatever tasks you throw at it. However, if you are working on a strict budget, then QuickBooks might be overkill when you consider the cost of entry.<\/p>\n Two things that QuickBooks doesn\u2019t provide, and which might be a deal-breaker for some businesses, is inventory tracking and payroll features. There is some integration with third-party apps, so this might not be an issue for some businesses. However, if you will need these features, then you should check compatibility beforehand.<\/p>\n Features:<\/b><\/p>\n Price: <\/b>$25.00\/month, 30-day free trial<\/p>\n Pros<\/p>\n Cons<\/p>\n <\/a><\/span><\/p>\n Sage<\/a> is one of the best-known accounting solutions. It is popular with sole traders, small businesses, and accountants. You can use Sage to manage your business\u2019s cash flow, sales, and taxes. It also makes reporting much smoother and more streamlined. It is a multi-function solution that satisfies a number of needs for businesses of all sizes.<\/p>\n The platform also offers a number of more advanced features for when you are ready to scale up your business. These include inventory management, credit card processing, and module-level security.<\/p>\n There are mobile apps available for a range of devices and operating systems, including Android, Apple, and Blackberry. Sage<\/a> also integrates seamlessly with other business productivity suites, such as Microsoft Office and Adobe Reader.<\/p>\n Because Sage has been a market leader for many years, it\u2019s often the first choice for businesses, but it can be a difficult to use accounting system if you have no previous experience. However, if you want an accounting package you can use straight out of the box, Sage is a good choice.<\/p>\n Features:<\/strong><\/p>\n Sage Pricing:<\/strong><\/p>\n There is a free trial available if you want to try sage out.<\/p>\n Pricing plans are payable monthly. Prices vary depending on whether you buy a software license for one user or multiple users. The monthly costs for one user are as follows:<\/p>\n Pros<\/p>\n Cons<\/p>\n\n
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<\/b><\/b>Best Invoicing: FreshBooks<\/h2>\n
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<\/b><\/b>Most User-Friendly: QuickBooks Online<\/h2>\n
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Third Place: Sage<\/h2>\n
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Most Affordable: Wave<\/h2>\n