6 Small Business Accounting Tools to Use on 2021
In today’s business landscape, finance and bookkeeping functions are made easier through various small business accounting tools. Equip your team with the right programs available in the market. Here are a few to get you started:
Price: Starts at $40
TurboCASH includes most accounting functions a business will ever need, as well as multi-company and multi-user capabilities. It has also been widely used in the US, Canada, Australia, and Europe since the 1980s.
GnuCash is free, open-source software providing financial management and professional accounting features. It handles accounts payable and receivable, employee expenses, invoicing, credit notes, and some payroll functions. You can also use it to generate reports and graphs to help you visualise your financial performance. GnuCash also makes a great option for start-ups and micro-businesses with tight budgets.
One of the most widely used accounting services online, Wave is a good fit for sole traders, freelancers, and small firms. Wave's features include accounting, invoicing, billing, payment tracking, payroll management, finance management, credit card processing, and receipt scanning.
4. AdminSoft Accounts
AdminSoft Accounts is a toolkit for business owners created by other business owners, so you can expect to find a user-friendly interface with none of the jargon that can be confusing to those without experience in accounting. This software can handle invoicing and statements, as well as remittance advices, stock control, purchase orders, budgeting, and some payroll functions.
Price: Starts at $16 a month
Xero is a popular choice among accountants because of its easy-to-use dashboard. It also has an open API feature that allows for the easy integration of other apps with the software. It allows you to easily view your bank balances, bills, invoices, and expenses, giving you a better handle on your cash flow. You can even use Xero on your smartphone.
Price: Starts at $8 a month
Reckon, a cloud-based application from Australia, offers flexible pricing depending on the features that you want to add. The basic subscription includes round-the-clock support, plus features that allow for budgeting, GST and BAS reports, as well as bank reconciliation. You can pay a small fee to have invoicing and bank connection features to be added.
Make your bookkeeping easier through small business accounting tools available in the market today. Not only will they automate your processes, you also get to have time to focus on more value-adding tasks for your firm.
But if you find your accounting functions a little overwhelming, we can help you. D&V Philippines has a suite of finance and accounting services proven to provide support in your bookkeeping matters. You can get our guide Outsourcing: How to Make it Work to know how delegating these tasks can help push your business’ growth faster.