6 Essential Accounting Tools Every Small Business Needs
All businesses require tools for start-ups and continuity. These tools help to judiciously manage the affairs of such businesses. For every business, there is always the accounting sector that deals in funds, invoices, and all forms of payments. Meanwhile, this section of the business requires a detailed record of its activities.
The usage of the hold methods of accounting such as accounts management through Bookkeeping would only delay the rate of input into the business thereby reducing its drive towards success.
It is thus imperative that business owners look into investing in the accounts section of their businesses to improve its efficiency because customers nowadays look into comments about companies to determine if they would patronize such business. Looking to up your business accounting game? Here are essential accounting tools you need to have:
- FreshBooks
In case you are just starting up a business, FreshBooks is an online bookkeeping program that could help. It possesses two different versions of accounts management, one being for a sole proprietorship, and the other where you can add up your workers or employees. Also, FreshBooks provides a sequential step-by-step procedure for first-timers making use of the program, offering the option of customization, time tracking, and connectivity with other accounts such as your bank accounts and financial statements. The tool offers four plans: free, lite, plus, and premium plans.
- QuickBooks Desktop
This has been an application of choice for manufacturing, non-profit, and contracting industries. Hosted on a 24/7 accessible cloud server that accounts for its capability in invoicing and management. Another benefit derived from its usage is its possession of community forums that provide everyone with access to ideas, solutions, and support.
- OneUp
If a small business company requires good financial dashboards, OneUp could do the trick. The app ensures easy access to and understanding of its interface, providing overviews of all activities of the company money-wise. The tool offers capable accountability and also invoice creation which can be needed as an online payment proof or option.
- ZipBooks
This is a great accounting tool for small businesses, contractors, freelancers, and other interested users. It enables businesses to track hours with the usage of an in-built time-tracker, this is good especially in freelancing when you need to bill a client for a job done. Also a good fit for solo accountants, lawyers, and professionals looking to keep things personal. In addition, there are the options of linking to bank accounts, categorization, and histories.
- Xero
One of the most popular accounting tools. Designed for small businesses, also possessing a multi-currency function to serve in different parts of the globe. It can link up and integrate with a very high number of apps. The interface allows for easy access to invoices, customer feedback, bill payments, and other required accounting functions.
- Kashoo
Kashoo is also a better option for small businesses, helping to take note of income and expenses. Also, possess the option of integrating with bank accounts and other accounting applications. They possess the option of electronic printing of cheques and invoices.
Above all, it is necessary to note that accounting for small businesses should not be tangled. It is thus important for business holders to check out these tools and determine the one that best suits the accounting outlook of such a business or setup.
