An accurate and efficient accounts management forms the pillar for stable cash flow and smooth functioning of a business. Maintaining proper cash flow, optimizing profits, minimizing expenditures and creating new investment opportunities are only possible when each and every accounting function is perfectly optimized and efficiently run. Large the business, heavier the transactions greater is the need for an efficient accounting system to pave a way for a smooth and strong business.
A small and medium business can be content with manual accounting process where accounting resources multi-task their way out of accounting. But as a business grows, recording and tracking financial transactions, cash flows and other accounting functions can increasingly get difficult with loads of manual data entry and scores of accounting functions and their reports along the way.
Importance of Accounting Tools for Business:
Every business needs a fast, flexible and efficient accounting system that can be easily scaled as per your requirements. Having a right accounting software, applications and tools at your disposal cam solve all your accounting problems and pave way for a flawless accounting system that costs less ad is and also scalable. Technology in the finance industry has come a long way and there are scores of accounting tools for all types of business to quip your accounting system for delivering flawless results.
If you are a small and medium business looking for the right accounting tools for your business, then you are at right place. In this blog here we present you top-4 accounting tools available in the market that can help you with fast and accurate bookkeeping and accounting:
QuickBooks: Probably the most popular and widely used accounting solution worldwide, QuickBooks Online is comfortably the best accounting application for small businesses. With automatic bank feeds QuickBooks imports your bank and credit information, take care of accounts receivable and accounts payable, tracks projects and inventory, enables you toad payroll, and also offers customization with hundreds of app integration. It is very affordably priced with tons of plans for self-employed and small & medium businesses. Given it is the most commonly used accounting solution for small and medium businesses, using QuickBooks makes it easy to outsource your accounting functions to remote accounting firms like us folks at Outsourced Bookkeeping.
Zoho Books: Zoho Books is an affordable online cloud-based accounting solution with a rich set of tools and features which perfectly cater to almost all the accounting requirements of small and medium businesses. The software manages your invoices, records, tracks and manages your transaction and enables bank reconciliations, helps with billing, invoice estimating, and keeps a close eye on inventory levels too.
It includes a great set of features in accounting, billing and invoicing, financial reporting, purchasing, school & trust accounting to help you manage your cash flow and other essential accounting requirements effortlessly. With the clean and simple user interface, Zoho books are easy to configure and more importantly affordable and scalable making it easily the best cloud-based accounting solution for small and medium businesses.
FreshBooks: If your business generates and processes a large volume of invoices then it helps to consider Fresh Books for your accounting requirements. Started off as invoice solutions FreshBooks has comfortably made its mark as an online accounting solution with more than 5 million users around the globe. With exceptional design and intuitive user experience it is extremely easy to use with a quick learning curve, got appealing invoice templates, numerous integrations and performs all the simple and basic accounting tasks like expense tracking, invoicing, and project management perfectly. However, it lacks batch-invoicing shortcuts, vendor management and inventory tracking. Best suited for small businesses and freelancers, it offers an easy and quick setup process and doesn’t ask credit card making it very easy to check out its trial version
Xero: Sales, bills and expenses, purchases, inventory and payroll (Zoho lacks here); Xero offers helps with every accounting process skilfully. Designed with small and growing businesses in mind, it offers a great dashboard, enhanced and easy setup process, online invoicing, inventory tracking, purchase orders, smart reconciliation, project tracking, smart lists and also easy integration with payroll (Gusto). Though Xero is very affordable and well suited for small and growing business, its entry-level plan is limited with 5 invoices, quotes and bills and just 20 transactions per month, but there are other offering available too.
Taking the right help you need form accounting applications and tools is mandatory for efficient and accurate accounting that does bog your down and is affordable for your requirements. Above 4 accounting tools offer the best features and services that takes tube burden off your shoulders and helps you make most out of your accounting resources and budget. However, if accounting is not your cup of team and you would like to seek help with accounting for your business, you can simply outsource your requirements for remote accounting firms like Outsourced Bookkeeping.
So want to save your time money while receiving the most efficient and accurate accounting services at an affordable price? Remote accounting services from Outsourced Bookkeeping can help you. You can contact us here: https://outsourcedbookeeping.com/