Top 5 Best Most Used Accounting Software Solutions for Small Business

Regardless of the size or type of business that you operate, it is important to have the right information at all times. Having a clear picture of your customer demographics, current price levels for inventory or materials, sales orders, inventory and finances improves functionality. This allows an organization to make important business decisions in a timely fashion. The best accounting software can provide your company with essential tools and benefits.

Accounting Software Defined

The best accounting software is a program that provides users with a full accounting platform that tracks all business activities within the company. This allows you to properly forecast and run real-time reports, as well as manage a large array of business activities at one time and from one accounting program.

Technological Advancements

Previous versions of accounting software platforms would provide users with the ability to keep track of financial data without using manual input ledger systems. These systems are now outdated as the best accounting software provide users with access and integration to services that allow for efficient record keeping. These accounting programs have grown leaps and bounds from pen and paper accounting processes.

Functionality

The accounting software is only as good as its output. If it only collects data and does not create reports, you would have to make these manual calculations. This would limit your ability to review reports and trends for your company which is why you will need to make sure that the best accounting software is functional and productive.

Support

The accounting software will provide its users with full support in the event that a problem arises.  When you are able to access email, phone, in-person or online chat support, you will be able to save time and money. There will be no interruptions in business operations so that productivity is kept to a maximum level.

What to Look for in Accounting Software

If you are currently looking to purchase best accounting software, then you should become familiar with the variety of options and features that they provide. Some of the main features that you should consider when purchasing a new accounting platform are:

• Inventory Tracking. Tracking inventory is also a vital aspect of managing your businesses profitability. If your company were to have too much or too little inventory, you may find that your company could have cash flow problems. The best accounting software allows for accurate inventory tracking which ensures that every customers order is filled correctly and on-time. This improves customer satisfaction and sales.
• Payroll. Payroll processing is another feature that best accounting software offer.  Many companies outsource their payroll processing to a third party because they don’t have the time to process the checks or they are too afraid to handle tax calculations and tax forms on their own. As a result, these companies are spending hundreds of dollars each month to have their payroll processed. The best accounting software will provide you with the ability to cut costs on these payroll process fees. You will be able to generate your employees’ checks quickly and efficiently. One great feature of some of the best accounting software is that it may offer free direct deposits for your convenience. This enables your company to deposit your employees’ earnings without having to prepare paper checks.
• Real-time Reporting. Access to a multitude of reports is also an important feature. Your company will need to be able to generate meaningful reports from the information that is regularly gathered in the accounting software system. It is important that the reports are customized to your specific needs and business operation.
• Bank Account Activity. When selecting the best accounting software you should purchase a program that will provide you with the easiest and fastest way to track your bank account detail. The best accounting software programs will allow you to download your checking account activity right from your bank. This will save you a considerable amount of time and money, as you are not incurring the cost of someone manually entering in the transactions into your check register. It is also important to have a quick and concise reconciliation process to ensure that all your payments have been recorded and posted to your account.

The best accounting software platforms can provide your company with the information that it needs. By taking the time to compare accounting software products, you will be able to ascertain the essential tools and functions that you need at the best cost.

Top 5 Best Most Used Accounting Software Solutions for Small Business:

XERO

Accounting Software & Online Bookkeeping. Online accounting software made for your small or medium-sized business. Log in anytime, anywhere. Explore easy invoicing, bookkeeping and more. Start your free trial today.

ZOHO

Zoho – Cloud Software Suite and SaaS Applications for Businesses. Zoho Books is an online accounting software to manage your invoices, bills, banking, inventory and do mobile accounting as well. Sign up for FREE today!

QUICKBOOKS

QuickBooks: Smarter Business Tools for the World’s Hardest Workers. QuickBooks is the #1 rated small business accounting software used by 4.6 million small businesses for invoicing, taxes, financial reports, payments, payroll and more. Instantly see how your business is performing with valuable reports including profit loss, expenses, and balance sheets. Start your free trial today.

LESSACCOUNTING

Simple Accounting Software for Small Businesses. Small business accounting software from Less Everything, because your job title isn’t accountant! Accounting software features: invoicing, proposals, CRM and more.

ACCOUNTEDGE

AccountEdge is premium accounting for Mac, offering the most complete, easy to use accounting solution for your small business in any country. AccountEdge is small business accounting software for Mac, Windows, and Mobile.