Running a small business takes a lot of hard work and dedication. As a small business owner, do you ever find that you get bogged down with things like payroll and accounting tasks? Those are the key areas where most small business owners find they lose a lot of time and make the most mistakes. Did you know that there are some great accounting software packages out there that are designed to make accounting and payroll tasks much easier? We’ve devised this quick guide to help you learn more about five of the best small business accounting software packages.
1. Sage One
This cloud based accounting software solution is designed entirely for small businesses. It is an easy to use platform that provides online accounting and invoicing functionality as well as project management features. It has a clear, concise dashboard that allows you to quickly check in on company finances whenever and wherever you like. There are several different price plans available, all of which offer a 24/7 support system, accountant collaboration, an unlimited transaction limit and the ability to produce bank reconciliations. Most packages offer VAT management functionality and supplier and customer management features.
2. Sage 50
Sage 50 is a slightly more complex accounting package than Sage One. It is designed for SME’s with less than 50 employees. It’s slightly more expensive than Sage One but allows you to set up accounting reports exactly how you like. It is very user friendly and flexible, but having said this, it’s probably suited better to someone with a bit of an accounting/accounts management background. Most people start with Sage One, and eventually move to Sage 50, to allow for better functionality and flexibility.
3. Quick Books Online
This cloud accounting software solution is accessed via the net, so there’s no need to download, install or configure any tools. It also means that you can access the software from any device too. You can easily track expenses, sales and income as well as create and send invoices via this great solution. It is very affordable for small businesses with a range of different packages available to meet a variety of requirements and the platform can be customised to your specific business type.
Yendo is another cloud accounting software solution. Cloud software is probably best for small business owners because you can access reports and data at anytime from anywhere, and as a small business owner, you will undoubtedly need to do that. Yendo offers the ability to instantly create and send accounting reports. You can track payment online, track, send and manage invoices, manage expenses and share any information you desire with your accountant – and do all of this via one online account solution. Packages start from just €16 a month so it’s very affordable.
A very popular accounting software solution for small business owners is FreshBooks. Like the majority of other solutions, it is offered via the cloud, so you log in and access your financial records anywhere, at any time. You can make and track online payments, log and track expenses, send late payment reminders to debtors, produce customised invoices and create profit and loss reports all with just one solution. FreshBooks has a useful Step-by-Step Wizard that you can refer to if you need help figuring out how to use any of its features. It is very flexible and can be integrated with several third party applications.
There are many, many more accounting software solutions out there, but if you are a small business owner, we highly recommend checking out the five options that are mentioned above!