Best accounting software used for running small businesses

Accounting software is very useful for running a small business as they help in various features like ledger management, invoicing, and payment processing. We are discussing a few accounting software that are reputed for ease of use, compatibility, integration and security. When choosing the best accounting software for your business, these factors play a key role. Let us look at the list of best small business accounting software that we have compiled for accounting solutions.

Freshbooks: This software is ideal for small business owners as well as freelancers. The price is very modest for a software which has key features and brilliant support. Inexpensive basic plan, time tracking and expense management make sure that scale depth is its main strength. However, it has other renowned features like cloud invoicing, reporting, payment processing and tax management add-ons. It also has an API that is very easy to use. The responsive mobile app of this software is available for Android, iPhone, and mobile web users. Another best thing about this software is that you can get in touch with the vendor via phone, online, knowledge base, and video tutorials. As a result, you will never have any issues with customer support. All these brilliant features make it one of the best accounting software available in the market.

Xero: Xero also stands out as a brilliant small business software. It has key features like integrated payroll module, balance sheet, bank reconciliation, expense claims, dashboard, financial reporting, inventory, and invoicing. However, the best thing about this software that makes it unique from others is that it supports Mac integration. While other software uses a plugin for this issue, Xero natively connects to the Mac UI by using a Mac module. The only downside of it is that it doesn’t have a direct relationship with US banks. But this shouldn’t be an issue if you set it up with your bank.

QuickBooks Online: Intuitive interface and a large variety of scalable functions make sure that over 2 million satisfied users use QuickBooks. It not only helps large enterprises but also caters to the needs of small and developing businesses. Both beginners and experienced accountants use an automatic system that syncs the complete business finance profile to one single dashboard. The benefit of this that multiple users can view in-depth reports and accounts of your company. You also get mobile compatible and print friendly trade, profit and loss sheets as well as billing and invoice solutions. This software excels in other departments too. While it comes with Profit-Loss Statement, Balance Sheet, and Cash Flow Statements, it also has inventory management and budgeting capabilities. QuickBooks Online Payroll and Intuit GoPayment are also available. The only thing that can concern you about this software is that it lacks full support and you need to get a QuickBooks-certified accountant for optimal use.

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