5 Useful Accounting Software for Your Small Business

October 12, 2018
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Usability, reliability, efficiency, and workflow – these are the four most important principles that govern the way we judge accounting software. Before this decade, we were faced with a spread out the influx of non-standardized programs which were hard to master. Thanks to the basic principles we’ve come to standardize, accounting software quality is on the rise.

Of course, you need dedicated employees to take care of reports, contracts and everything else. However, all the heavy lifting should belong to your accounting software.

To help you take your business to the next level, I’ve compiled a list of all the best accounting software. After weeks of testing, consulting experts and comparing – I’ve decided to go with the following.

1. Xero

Xero is one of the most reputable accounting software brands in the entire world. In the accounting software world, it has a long history and a long line of different versions behind the current one.

The software was created with a thought that everyone should be able to to do their invoices and reports, without necessarily being an accountant. This brings us to the first advantage – a very responsive and easy-to-use UI.

Because of this UI-related simplicity, you can better cooperate with your accountant, as you will know what’s going on. The dashboard has some very useful default options, such as “Create a new invoice” or “Bills that need to be paid.” The ecosystem of Xero goes far beyond the software itself, thanks to a myriad of “add-ins.”

If one of your employees or cooperatives uses another SaaS or cloud solutions, you will be able to sync them seamlessly with PieSync.

Start syncing Xero

2. Intuit QuickBooks

When you open Intuit QuickBooks, you immediately see a myriad of infographics, tables and other visual representations of your data. A great detail is that the program automatically prioritizes overdue payments, as well as those that haven’t been verified yet. There is also the added security perk – the software doesn’t rely on sending you a confirmation email – you have to receive a verification code via SMS.

Additionally, I also liked that there are no pop-ups or annoying ads urging you to buy the full version. With the free version, you can manipulate all sorts of data and invoices, without worrying about any limitations.

For those who have problems keeping up with their taxes, you’ll love the instant snap of your GST status. Via a simple snapshot, you can see how much you will owe the US government on your next BAS. You can also do this with your bank account, as well as any invoice you select.

3. FreshBooks

FreshBooks is an easy-to-use accounting software. When it comes to users’ reviews, this cloud app seems to be rewarded as one of the most intuitive tools around.

Features include expense logging, simple invoice creation (which by the way, are very beautiful and fast to create), receipt management, and you can track and log time by project and clients and collaborate with your team.

FreshBooks reports are very straightforward and detailed. Plus, it has a very good mobile app so you can take your business everywhere with you.

This accounting software serves from self-employed pros to large businesses. So if you foresee growth in your company’s future, Freshbook can be the tool you are searching for.

4. Saasu

What makes Saasu different from many other entries on this list is a focus on losses. It has a separate section which highlights the Loss report creation, as well as a significant amount of data concerning your balance.

You can easily integrate your bank accounts with both the PC and Mac programs, as well as the mobile app for both Android and iOS. What I love about the dashboard is the notion of customizing it.

While there aren’t many shortcuts within the app or the program, there are many perks which business owners might find appealing. For instance, you can list all your employees, cooperatives and bank accounts and pre-choose them when making a payment.

Want to keep Saasu in sync with other cloud-solutions? Vote here!

5. MYOB Essentials

MYOB Essentials is yet another example of accounting software that has been around for a long time. Although they have been present for multiple decades, MYOB Essentials has only adopted the use of cloud software a few years ago. What accountants and business owners love about MYOB the most is two things – easy document transfer and custom report creation.

Concerning the document transfer options, MYOB is very responsive to scanned documents and is even able to discern the type of the scanned document – whether it’s an invoice, a regular report or a custom file. You can first scan the document and automatically have it linked to the payment so that the trail is only concentrated around a single action.

As with custom report creation, there are many templates and suggestions. However, a downside is that you have to have some experience with these templates. That’s about the only downside.

Want to keep MYOB Essentials in sync with other cloud-solutions? Vote here!

Conclusion

As it is with everything, accounting software is different from company to company. To choose the absolute best option for you and your employees, you should consult beforehand and see which characteristics you value the most. All five entries on the list are easy to use, which I see as a priority on every level. Other than that, you can experiment and see what works.

About Susan Saurel

Susan Saurel is a passionate writer from Texas. She is in love with traveling. Teacher of higher category, a writer for the cheap essay writing service EssayWritingLand, PM in an IT company, lovely mom. She wants to share her experience with readers and she has something to say, for sure.