Top 5 Best Accounting And Bookkeeping Software Out There

TOP 5 BEST ACCOUNTING AND BOOKKEEPING SOFTWARE OUT THERE!

Managing your bookkeeping and accounting data isn’t an ideal way to spend your time. Excel spreadsheets are inefficient, frustrating, and unreliable. If you want to start or grow a small business, take the right steps to manage your money more effectively.

Cutting down on time spent on data entry and reducing errors can help your company increase profits and ensure its financial health. Choosing the right bookkeeping software is a key factor in this success.

We’ve compiled this list of the best bookkeeping software to help you decide. These five bookkeeping and accounting software options are the best you can find for your small business.

• Most comprehensive DIY software: QuickBooks • Best free option: Wave Accounting • Best for e-commerce businesses: GoDaddy • Best invoicing software: FreshBooks • Simplest software: Xero

The right choice of software can save you time and money Each of these five tools has its own advantages and disadvantages. Let’s evaluate them based on the following criteria: pricing, features, and ease of use.

Most comprehensive DIY software: QuickBooks

Thousands of small businesses use QuickBooks because the cloud-based software offers a robust feature set that is easily accessed online or on mobile devices.

FEATURES • Cloud-based software services enable companies to streamline their operations by combining invoicing, payments, and receipt capture in one place; as well as mileage tracking and cash flow management.

• You can add additional users to your account, including employees or your accountant so that they can access your account.

• Several forums and online training resources can help you learn the basics of using this tool.

• Integrations with third-party apps such as Square, Stripe, and PayPal can be set up with QuickBooks Payroll.

Four Monthly Plans of Quickbooks: 1. Simple Start – $25 per month for basic features such as income and expense tracking, invoicing, general reports, and sales and sales tax tracking.

2. Essentials – $50 per month for everything in Simple Start, plus up to three users, time tracking, and bill pay.

3. Plus $80 per month for everything in Essentials, plus up to five users, inventory tracking, and project profitability tracking.

4. Advanced – $180 per month for advanced features, including up to 25 users, automation, a dedicated accounts team, and exclusive premium apps.

If you want to streamline your bookkeeping, QuickBooks is a great place to start.

Best free option: Wave Accounting

Freelancers or service businesses who don’t need the inventory management or payroll-related features that other accounting software offers will find Wave Accounting a good option. The free accounting software can be accessed online or through the mobile app, and reports can be readily shared with accountants at year-end.

FEATURES • Income and expense tracking, financial reporting including profit and loss statements, invoicing, and receipt scanning.

• Premium add-ons such as payment processing, payroll, and payroll taxes.

• The ability to add unlimited partners, collaborators, or accountants.

• Unlimited bank account and credit card connections.

• Integrations with Stripe, Shopify, HubSpot’s CRM, and more.

In addition to its free accounting features, Wave offers the following paid features: Payment Processing – 2.9% + 30¢ per transaction for Visa, Mastercard, Discover; 3.4% + 30¢ per transaction for American Express; 1% ($1 minimum fee) per ACH bank payment.

Payroll – $20 or $35 monthly base fee (depending on what state your business operates in) + $6 per active employee and $6 per independent contractor paid.

Wave can help you reduce your accounting costs, while still providing you with robust tools if and when you need them.

Best for e-commerce businesses: GoDaddy

If you want to reduce accounting headaches and streamline your business, consider using GoDaddy’s accounting software. It’s simple to set up, has great user-friendly features, and will work for you whether you’re an accounting expert or a beginner. And if you’re not a whiz with accounting software and are looking for a userfriendly alternative, check out what GoDaddy offers.

FEATURES • Estimates, one-time and recurring invoices, payment acceptance through your mobile device, mileage and time tracking, and business reports such as profit and loss statements.

• Syncing to Amazon, Etsy, eBay, PayPal, and other e-commerce business accounts.

GoDaddy offers three straightforward monthly plans: 1. Get Paid – $4.99 per month for invoicing, estimates, payments, time tracking, mileage tracking, and the current year’s business reports.

2. Essentials – $9.99 per month for everything in Get Paid, plus unlimited business reports, tax worksheets, and automatic sales and transaction imports.

3. Premium – $14.99 per month for everything in Essential, plus the option to create and send recurring invoices.

GoDaddy lacks the advanced features to automate payroll and other business management processes, but it is an effective platform for online sales.

Best invoicing software: FreshBooks

If you want to save yourself the hassle of using complicated accounting software, Freshbooks may be worth a try.

It’s very easy for novices to use.

Freshbooks’s customizable features make it easy to: • Send out estimates, customize unlimited invoices, send payment reminders and add late fees automatically, manage project budgets, and accept deposits and payments.

• Bill clients in multiple currencies, languages, and on a subscription or retainer basis.

• Integrate tax apps, filing tools, and other tools you use, such as Gusto, and GSuite.

In addition to discounted yearly plans, Freshbooks offers a range of monthly plans: Lite – $15 per month for basic features such as invoicing up to 5 clients, tracking unlimited expenses, and accepting credit card payments and bank transfers.

Plus – $25 per month for automatic expense tracking, invoicing up to 50 clients, recurring billing and retainers, business health reports, and the option to invite your accountant.

Premium – $50 per month for unlimited clients, project profitability tracking, bill payment, tracking, etc.

If you’re interested, Freshbooks offers a Select plan with specialized features, including a dedicated account manager. (If not, one of its other plans should work.)

Simplest software: Xero

If you’re not a pro at bookkeeping and accounting, learning to use complicated accounting software after all may not be your ideal solution, especially if you find it frustrating.

The straightforward and simple design of Xero is a blessing to small business owners who have limited time and resources but need a comprehensive accounting tool.

FEATURES • Invoice and quote sending, transaction reconciliation, bill and receipt capture, cash flow and business snapshots, project tracking, expense claims, and even analytics.

• An optional Gusto payroll add-on to calculate pay and deductions, pay employees, and simplify compliance.

• Integrations with apps and tools such as Stripe, PayPal, WooCommerce, Pipedrive, and more.

Pricing For Xero’s three plans is as follows: Early – $11 per month for the basic plan, which includes up to 20 invoices and quotes, five bills, Hubdoc for capturing bills and receipts, bank transaction reconciliation, and short-term cash flow and business snapshots.

Growing – $32 per month for everything in Early, plus unlimited invoices, quotes, bills, and bulk transaction reconciliation.

Established – $62 per month for everything in Growing, plus support for multiple currencies, project tracking, expense claims, and in-depth analytics.

One of the best online accounting software options available, Xero is simple and scalable.

When you’re running a business, the last thing you want to worry about is how to get something done. You expect certain things to get done, and using the right accounting software will allow you to focus on what really matters – getting your work done. When looking for the right software company to handle your financial needs, you have to ensure that they use accounting software that fits your requirements. It has to integrate with other systems of your business and deliver all the necessary reports. Basically, it’s vital that you find a team of people who are well versed in accounting services.

We at BookkeeperLive have the manpower to assist you on that matter. Contact us today.

Thank You! https://bookkeeperlive.com/ +91 812 888 4024 +1 718 395 9555 hello@bookkeeperlive.com