Can implementing accounting software for small businesses reduce your workload?
You are not a small business owner who loves numbers, right? And, you certainly do not like to tap your Numpad to jog your fingers as a stress buster activity or amuse yourself with the diversity in numbers. The only time you like them is when they are working for you or are in your pocket.
Are you sure you can get them right without using online accounting software?
You, as a small business owner, have to multipurpose your limited resources. In practice, it means you multi-task and have no time to play with numbers. Counting them, manually, could be taxing even for an experienced person. It is especially true when you are busy finding customers to sell your services or products to.
Now that we are in 2021, why not automate the process using the best small business accounting software.
Accounting Software for Small Business 2021
If you go to internet and search online accounting software, you will end up a lot of them. There are simply too many to read about and try. Here is a list of selected accounting systems, that can help you in narrowing your search.
1#
Price - Starts with $9/month
One Accounting software is specially designed for small business double-entry accounting. The corporate services, Small & Medium Enterprises (SMEs), and freelancing accountants can securely use it for the purpose. It promotes collaboration and offers customization of invoices.
With the basic package, email unlimited sales invoices and 49 purchase invoices. This best online accounting software provides small businesses with dashboard, intuitive interfaces & navigation.
One Accounting makes vendor & customer, payroll ledger, & inventory management easy. It supports recurring invoices, account reconciliation, and multi-currency transactions. Sign up for a 32-day free trial.
2#
FreeAgent
Price - Starts at $12/month for the first 6 months (then, $24/month)
FreeAgent is accounting software for SMEs. It is most useful for preparing invoices & estimates. Makes it easy to track cash flow, receipts, time, income performance and profitability.
This tool enables you to keep a keen eye on each aspect of your business' finance. The free trial is available.
3#
FreshBook
Price - Starting at $15/month
The right accounting software that enables freelancers to do double-entry accounting for their clients. It can track time, generate estimates, send invoices, and manage proposals and projects. It offers not-too strong a dashboard and is short on invoice customization.
4#
Kashoo
Price - Starts at $19/month
Simple accounting software that enables SMEs to manage their income and expenses. You can use to track project cost. It comes with email, chat, and phone support.
It does not support stanard dashboard, inventory and time tracking. It is not an excellent support for inventory management or time billing.
5#
OnePay
Price - Starts at $36/month (plus $4 per additional user)
OnePay is accounting software that assists SMEs in payroll, tax filings, compensation insurance, & health insurance. It makes data-entry of payment data easy.
The tool can estimate payroll taxes, fill tax forms and even pay taxes for you. It gives you unlimited payroll runs.
6#
Sage
Price - Starts at $50/month
Sage is a good accounting system for the SMEs. It is easy to customize and comes with a number of financial tools. It sends invoices and enables payments & expenses tracking.
However, it does not support collaboration, time tracking, or dashboard. It is a desktop-based application that comes with oldish-looking interfaces.
Hey, wait!
Before you rush to buy best accounting software for your small business, know your accounting needs. Identify whether you often need to track inventory or receipts. What are your main concern: manage VAT, or GST, or sales tax. It would be a good idea to list your expectations from the accounting software, then search for the most promising accounting system.
I am a technical consultant & a writer who loves to forge knowledge on software products & services.