A Review of Current Accounting Software

August 6, 2019by Michael Kelfer0

Every business needs to keep accurate financial records. For some freelancers, a notebook or spreadsheet might suffice. But accounting software can provide wider benefits. It improves accuracy, allows you to save time and money during tax season and speeds up business processes. There are a number of accounting software platforms, so how do you select the right one for your business? Below are five features to look for when choosing accounting software, as well as suggestions for platforms that fit the bill. 1. Ease of use Some accounting software is designed with non-accountants in mind, while others assume users have a working knowledge of debits and credits. Will you be able to simply start using the software? Fully-functional accounting software may not be something you can pick up on the fly, so if you choose a more robust platform, make sure it comes with adequate training. Recommendation FreshBooks is designed for users with little to no previous bookkeeping experience. If you do need help getting started, the company offers free tutorials, and live customer support via phone or email. 2. Cloud-based platform Today, most of the top accounting systems are cloud-based so you can access your financial data anytime, anywhere from a computer or mobile device. A cloud-based solution ensures you won’t have to worry about updates and backing up your work. It also makes it easier to collaborate with others, including remote employees, contractors, and your accountant or tax preparer. Recommendation QuickBooks Online has a reputation for being the go-to accounting software for small businesses. It’s easy to use and can be used by nearly any size business, from a self-employed individual to established companies that need to track inventory and time. 3. Capacity to grow with your business Some software limits the number of users or customers you can manage in your account. Other platforms may lack advanced features that you don’t need now, but will later. Look for software that can grow with your business, or at least makes it easy to export your data if you need to switch providers down the road. Recommendation Sage has Read More »

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