The Top 5 Financial Management Tools for Startups, The vast majority of American enterprises are small ones. The sheer abundance of tiny firms almost seems fictitious. And yet, the data don’t lie. There are 33,2 million SMBs in the US, all of which require a trustworthy accounting solution.
While larger businesses may afford to have accountants do the menial tasks, small businesses may not have the luxury. Manually keeping tabs on things using a spreadsheet or, even worse, pen and paper, is a time-consuming and error-prone hassle. Thankfully, several low-cost accounting software programs are available online.
FreshBooks
Because it doesn’t need users to have any prior experience with accounting, FreshBooks continues to be a top choice for small businesses. Simple and quick expense tracking, invoicing, reporting, and credit card processing. The simple iOS and Android applications make using the already-convenient app even more so.
FreshBooks has many tiers of service available to its customers. If you have less than five billable clients, the $19/month Lite plan is your best bet. The Plus and Premium plans, which are available to organizations with more customers, cost $32 and $60 per month, respectively. FreshBooks also provides individualized accounting services at flexible rates that grow with your company’s needs.
Intuit Quickbooks
Quickbooks has achieved widespread recognition for good reason. The well-known provider of accounting software is relied upon by millions of small and medium enterprises worldwide and almost certainly offers a package tailored to your company’s needs as well. Professional accountants love it since it’s user-friendly and easy to learn. It’s very adaptable, hosted on the cloud, and compatible with many other programs.
30-day free trial, $15/month for the first three months, $30/month thereafter for the lowest tier. Its easy-to-use interface and full set of capabilities make it a good fit for most small firms, but you’ll need to upgrade if you want to add support for more employees or payroll functions.
Wave
You can get all the advantages of premium accounting software without breaking the bank. In reality, zero monetary outlay is required. Wave is a free web tool and smartphone app that helps small companies make and send invoices, manage limitless income and expenses, and more.
Sadly, not everything is costless. Wave’s monthly price for payroll services is determined on the number of payees and there is a per-transaction fee for processing payments. There’s nothing to lose by giving it a go, making it a wonderful alternative for individuals who can’t afford the monthly fees of the other services discussed.
The Bookkeeping Power of Zoho
Zoho Books is an alternative to Wave that you may use to publish your books online. For companies with annual revenues of less than $50,000, they provide a free version. Invoicing, Expense, and Mileage Tracking are all a part of it. Depending on the size of your business, the free plan’s annual maximum of 1,000 invoices may be sufficient.
Zoho Books is compatible with a wide variety of well-known programs, and it provides subscribers with access to help by phone, email, and live chat. Advanced business features are offered in the Premium, Elite, and Ultimate levels, with the cheapest paid plan costing just $15 per month. Visit Zoho Books to try the free version or a 14-day trial of a premium tier.
Xero
Xero is widely used by small businesses all around the United States. You may use it to make invoices and reports mechanically. The website facilitates group work by letting users post comments and invite outside experts. Over a thousand third-party applications and extras are available for personalization.
Prices for Xero’s Early, Growing, and Established plans range from $13 per month to $70 per month. For an extra $40 per month, users may access the payroll features of the integrated Gusto program.
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It’s usually a good idea to spend the time and money necessary to learn and use accounting software. You may rest easy now and possibly save stress in the future if you have your accounts receivable and payable in order and ready for tax time.
You don’t need to put in a lot of time or money to learn it. Inexpensive and surprisingly simple to use, accounting software is readily available. Changing software, getting an accountant, or purchasing an enterprise solution are all possibilities as your business expands. However, until then, your small company demands should be met by one of the five top accounting software alternatives mentioned above.