Are you looking for a method to improve your business’ accounting operation and reflect financial position honestly, in time but at the reasonable price? Accounting software is the best solution to this question. However, lots of users wonder whether the cost is too much or not and whether the software works efficiently. Especially, if you are a small business, the software which is affordable and easy to use is absolutely the first choice. Based on these criteria, I have selected three best accounting software to help small businesses find the suitable one for them. They are: Intuit QuickBooks Online, Wave Accounting, Zoho Books.
1. Quickbooks Online
In the first place, I will give you a rundown about the QuickBooks Online accounting software to see why it ranks first. It offers a various diversity of features for all kinds of small companies such as: server providers, online merchants, consultants, freelancers, store or restaurant owners and more. However big your business is, QuickBooks is packed with fundamental and advanced functions to meet your different accounting demands. Nevertheless, simple usage and easy management are striking features of this software. You will surely save much time because of arranging workloads easily and accessing to relevant deals rapidly. The following is the features making QuickBooks be the best accounting software for small businesses:
- Offering the best price: Among the software accounting I considered, QuickBooks supplies the services with the most affordable paid packages. Depending on the sevice level of your demand, you have to pay the cost at least $9.99 per month – the cheapest plan. To make more complicated accountings, you will pay more fees but not too much. I personally think it is the best choice for small businesses since their demand for accounting is not too difficult, so the cost is little.
- Ease of use and set-up: one more advantage that users would love to apply this software is its simple getting started. It is not essential for you to fuss with various menus or go in circles only to find your way. For example, it is easy for users to access to bank account and credit cards from the dashboard. To supply a more intuitive user interface, QuickBooks updates it dashboard regularly. In sum, you can completely control your “health” business rightly when logging in.
- Saving time: According to statistics, not a single business does not respond that this is the best accounting software to save your time by not adding to stressful workloads of small business accounting. QuickBooks is automatic software which does tasks and makes accountings more quickly, so it is absolutely less stressful for business runners. The accountants can also reconcile and categorize expenditure, time-consuming tasks automatically for every transaction. Moreover, it combines with more than 150 third-party apps such as those designed for payroll services, e-commerce, email marketing and ect. That helps you to avoid wasting time connecting to different services by allowing you to import, export and sync documents simultaneously.
- Financial management all in one: most of workloads are divided in groups such as providers, customers and banks. Arrow system will show you how all tasks are relative to each other and make it easy for you to decide what to do next. In addition, it controls the number of customers, providers and labors so that you can make transactions more rapidly. One more is that you can rapidly determine Aps and ARs of customers from the centre. This is also a selection for you to superior the number of inventories, design and arrange locations and customer’s orders. QuickBooks controls your invoices to update liabilities or remind you of them and then send invoices, trial balances and customer’s payments to managers.
- Other benefits: QuickBooks offers both phone and chart system, which the users can move straightly to the QuickBooks website. In other words, if you have any questions or problems, there are lots of resources to help you solve supplied by QuickBooks. To sum up, customer service of this software is very good that caters for every users’ difficulty and satisfy them.
2. Wave Accounting
The second accounting software choice for you is Wave Accounting. It is designed specially with free, cloud-based accounting software for small businesses. Yet unlike other free accounting software that is limited in capabilities, Wave Accounting has a wide set of accounting characteristics without the monthly price tag. Although the cost is not its strength, it offers services to customers, which is not worse than QuickBooks. Like QuickBooks Online, Wave Accounting saves time for users and is easy to use or set-up.
- Main function:
- Wave Accounting invoices professionally with its own logo and it is easy to share them with your customers.
- Connecting directly with online banks and credit cards so that users can automatically enter transactions.
- By applying online free tools, Wave Accounting helps you stop collecting paperwork or bill payments…
- Easy to abstract business from personal consuming by financial software integrated in Wave Accounting.
- Making financial reports and providing necessary understandings to support businesses to make significant decisions.
- Safe and security customer’s information:
Wave is the safe system with only – read structure. Its accounting feature is never used to draw money out of user’s accounts. All connections are read-only ones and the information is encoded and stored with the first-class technology in the world. Up to now, Wave has downloaded over 65 million transactions safely, kept secured and saved time and money for customers.
- Guarantee complete security for users’ information: It passes data safely. When you download a page in website or post anything to Wave Accounting, all those information is secured by SSL code up to 256 bits. Its code is examined and approved by Digicert. All data is stored in a strictly physical connection server. They are checked 24/7 and this technology is protected by digital technical.
- Access safely to banks: When choosing connect to banks or credit cards with Wave, the users can save much time and utterly feel secured that their information is controlled by the most modern technology around the world. The prestigious third-parties co-operated with Wave are the bank of America, Citibank and Wachovia.
- Back up: Wave copies documents in real time, so the users will not lose any transactions even when the server gets in trouble. Whatever your PC or hardware have troubles, your financial data is still in a safe place with Wave. The software also has mobile apps available for IOS and Android, so you can download it from Google play or App Store and set up it in your phone.
In case you choose the free program, you can make use of discounts and other perks offered by Wave’s partners.
3. Zoho Books
The last accounting software I would like to introduce to you is Zoho Books. Like above accounting software, this is a convenient one for small businesses due to various features offered. It is an accounting application which is easy to use and control your inflows and outflows of your money. You is likely to up-to-date constantly your business’s financial position and make decisions at once. It has many noticeable advantages, so it is considered as one of the best option for small companies in the field of accounting.
The first good point of Zoho Books is the price it offers, $24 per month for an unlimited number of users. It is apparent that the cost is cheaper than other substitutes’ such as: QuickBooks, FreshBooks, Wave Accounting – top accounting software. Besides, Zoho and Wave have common in simple set-up and saving time. The following is main features of Zoho Books that attracts customers:
- Business – control money coming in: you can create and send anticipation and invoices while moving. You can also select invoices suitable for your business and accept payments from customers online.
- Purchasing – control money going out: the total amount of cost or the value of invoices are available whenever you need. Even you probably sort out them directly in your phone by downloading this accounting software. Zoho helps you to recognize your Aps and make due payments. As your suppliers provide goods or services on credit, you can easily send an invoice specifying the number of money you owe to them.
- Invoice templates: Zoho offers customers invoice templates. There are various samples in Template Gallery and send professional invoice to your customers.
- Accounting consultants: your consultants are never far away with Zoho Books because you can co-operate with your staffs or accountants through this software.
- Receiving Insights Business in your packages: do you have enough cash on hand to pay labors and pay invoices for suppliers? How many customers do you owe? What is your first cost? … The answers to these questions are all in Zoho Books. It take you a wink to control these information. That is one of the reasons why I said before that Zoho saves much time for users.
- Superior time exactly: Zoho controls the exact time when you purchase something or buy goods or send invoices to customers. Every management operation seem to be very simple with Zoho Books accounting software.
- Download and print reports: Zoho Books application allows users to download and print all kinds of financial reports such as: the statement of financial position, Profit or loss statement, Cash flow statement, trial balances, invoices, expenses or ledger-account,…
- Accept online payments: using paypal, stripe, Braintree, authorize.net, playflow pro, 2 checkout, forte, and other big online payment gates in the world, Zoho permit customers to make online payments. Therefore, it saves time and paperwork cost. This guarantees quicker payments and any troubles are solved at once.
- Attachment and receipts: Zoho Books interface allows businesses to upload any images of receiving money or share them from your devices and attach to appropriate expenses immediately. Furthermore, you can add attachments to Expenditure, estimates and email that you send to your customers or suppliers.
- No limitation: there is no limitation in the number of transactions or the number of users which is accessible to Zoho Books accounting software. Besides application on the website, this accounting software also create another application on phones to support each other and work more efficiently. All these applications are free downloaded. The thing making Zoho Apps different is that it is not limited in functionality. Besides controlling invoices and receipts, payments and costs; the apps offer you access to your dashboard for at a glance insights, reports. Compared with Zoho Books accounting applications, plenty of mobile accounting apps are available just on IOS and Android and even are limited to preliminary functions such as: reconciling banks accounts, tracing expenses and creating and sending invoices.
Of course there is nothing perfect in the world. Those accounting software is not the exception. Despite of top accounting software in the world, they all have different limitations. For examples, Zoho Books integrates with few third-party apps and business solutions. Therefore, it can be difficult for customers to transfer transactions from various businesses or providers. Likewise, Wave Accounting also has drawbacks. Because it offers merely core accounting features, so it is not for everybody. And due to being free, it operates with some limitations that may make paid software a better selection for small businesses. Even the best accounting software is limited in functions. A main disadvantage of QuickBooks Online is its mobile apps lacking features. These apps provide very simple functions on IOS and Android, preventing you from doing many tasks on your phone and tablets.
Above is the top three accounting software I recommend for small businesses. Based on specific requests, you may choose one of them or other software not in my article. Although they are the top three in the world, there are limitations existing in that software. And that does not mean the other is not good at all. Be an intelligent user is my advice to you!