Say good-bye to the traditional methods of doing outsource accounting service . Accounting software has made accounting more efficient and systematic for all businesses in all sizes. Accounting softwares is backed not just with general ledgers and bank reconciliation statements but also has powerful invoicing features like automatic invoice generation meant to speed up revenue collection for your enterprise. Accounting softwares also includes features such as in-built payroll outsourcing services including calculating employee hours, processing payroll taxes, direct account deposits and reimbursing expenses. The software enables forecasting and budgeting modules that estimate future expenses, analyse current financial position and predicts upcoming future budgets in real-time accuracy of data.

The Accounting Software also offers tax solutions saving you from relevant complexities. The software is user-friendly, so no special training is required to run the software.

The commonly accepted accounting software by small businesses was a choice between Sage and Quickbooks. But now there are a lot many choices for small businesses to keep track of Important invoices, cash flow and maintaining detailed financial records. Xero and FreeAgent are two more accounting software that have gained quite a popularity in less time.

So if you haven't already considered using an accounting software, it's time to streamline your financial processes with advanced end to end solutions and interesting third-party integration that an accounting software has to offer.

What is an Accounting Software?

An accounting software helps in keeping a track on the entire inflow and outflow of an organization. There are different kinds of modules present in the software that works such as General ledger, Accounts payable, accounts receivables etc. The software also manages the payroll system and takes care of reporting management. The modules can also be customised based on functionalities of the industry.

Following are the accounting software recommended for small businesses without any particular order:

Sage:

Sage is a widely popular cloud-based accounting software integrated by small and medium scale businesses. Sage has been providing services for 38 years and it is the most trusted accounting software. This software not just manages the data but also helps keep track of money flow in the business. For any start-up it is important to manage the business and scrutinize new ideas without worrying about the management and admin tasks. Sage helps to resolve all your issues by handling data, eliminating the financial compliances and using it available as per the requirement.

Sage is an online accounting software that accepts payments, sends and creates online invoices, connects with your bank and manages transactions effortlessly. It has additional features from sales to purchases, reporting, provides remote access, optimizes sales and monitors and manages cash flows. It is an advanced solution that offers full-time online support for small businesses.

Xero:

Xero is another popular accounting software for small businesses. It is known for its advanced features, unlimited users, inventory management, bank account integration, customised dashboards and online support. Even during hard times, it is well equipped to run efficiently with the latest tools, features, structures and resources to help companies run efficiently. Xero can be remotely accessed that allows you to check cash flows and transactions from any device namely: desktop, Ipad, PC, phone or tablet. Xero is a simple, smart and organized accounting software. This software is also available as a mobile app that allows you to send invoices, create expense claims, forward payments and track bank reconciliation.

Xero is well equipped with time-saving tools, you can manage your cash flows by scheduling payments and batch paying suppliers and handling personal expenses and much more. Xero is a smart software that reconciles with foreign currency, integrates with more than 800 apps to manage invoicing, expenses and time tracking. This business accounting software has more than 2 million subscribers who sought easy solutions for accounting management.

Quickbooks:

Quickbooks is a robust accounting software which is modern, scalable and includes rich features that fulfills all work obligations by boosting efficiency. This software aids small businesses with customised plans. It is the easiest working software that calculates, tracks and organizes financial aspects. With Quickbooks accounting software, it becomes easy to reconcile bank accounts, import transactions and know where the money is invested.

This software allows to generate invoices, track income and expenses, import invoices, maximise tax deductions, regularize payments, balance sheet and easily track cash flows. Additionally it also allows custom chart builders, track KPIs, track deductible miles, forecast cash flows, run custom reports, match certified bookkeepers and generate financial insights. It reduces your stress by automating recurring payments, bills, activating auto payroll and managing inventory. It is the best solution for small businesses that suffices all financial requirements through different plans. They also provide virtual support to their clients.

Zoho Books:

Zoho Books is one of the top accounting software that keeps the businesses compliant, manages finances and automates businesses workflow. Zoho Books integrates with other business apps that are installed in the business system for business growth. Zoho Books handles all the mundane accounting tasks from negotiating business deals, generating invoices, raising sales orders and accepting payments.
Zoho helps businesses to file taxes and remain compliant. They also help in creating e-way bills, enable payment reminders, chase every transaction and provide online payment options. With Zoho Book, it is easier to keep track of money, create and send purchase orders, upload expense receipts and keep track of payments. It is the cheapest accounting software in the market that offers a good array of features and support.

FreeAgent:

FreeAgent is an award winning accounting software that allows you the mobility of running your business from anywhere, checking cash flows, managing expenses, paying off invoices, and calculating business tax in one click. FreeAgent gives you an overview of your business. It offers a user-friendly, customised and well-designed dashboard. Freeagent gives you the flexibility of doing accounting on your own or with the help of an accountant.

This software allows easy access to all your business financial reports. It automatically evaluates bank statements, expenses, invoices and transactions throughout the year. It also provides comprehensive reports on balance sheets, income statements, trial balance, creditors, debtors, vouchers etc. This app is suitable for accountants as well small businesses. It also offers a mobile app which makes it quick and easy to update your accounts. The double-entry accounting system keeps your financial record uptodate.

Conclusion:

Accounting software helps you to compile business information in the most manageable, clear way. It is imperative to consider using accounting software for your small business. You need to investigate the pros and cons before finalising the software for your business. You can request for a free trial so that you can choose the most suited accounting software for your business.