Easy Accounting Software for Current Financial Year
Accounting is one of the primary tasks for businesses to ensure the proper flow of funds within the system! Technology & innovation around the globe continue to grow with time & thus the job of accountants is getting simpler! Change is the new constant in the world and it continues to reshape the business model as per the market needs. The current financial year is also witnessing more businesses adapting to new tools to manage their accounts. If your business is going for expansion, it is advisable to migrate to a reliable accounting platform with automation.
Cloud computing has increased in recent years and all the modern-day tools are getting hosted in the cloud to save IT infrastructure costs. Organizations need to decide on the path they want to walk and thus select the platform that suits the budget. Do not lag far behind the competitors too much, or else catching up in the future will get harder. Avail of the automated accounting features through proven tools in the market. Make business accounting an efficient process to save money & keep track of the finances with suitable software.
The times are challenging and SMBs need to look for out-of-box solutions to be relevant in the market. Give importance to accounting and ensure a safe path for the flow of funds in or out of the system. This way, businesses are able to cut down on extra costs and be prepared for future challenges. Adapt to the accounting software that has all the relevant features required by the business.
Here is the top-rated accounting tools for businesses in this financial year:
Xero
It is the accounting tool with the best reviews for small businesses looking for easy accounting! The tool has an easy-to-use interface and is basically a cloud-based app. Businesses can also integrate other kinds of apps with easy assistance. It allows easy payroll integration with Gusto and has simple inventory management characteristics. In 2021, the accounting tool is being adopted by small businesses will all-around financing characteristics.
The Xero accounting software is offering a three-month subscription and a fully-serviced payroll add-on. You get features like multi-currency transactions, swift expense management, and simple project costing with the tool. The limited plan provided by Xero is best suited for a micro-business with high-ticket transactions.
FreshBooks
FreshBooks is also regarded as one of the top-rated accounting software having all the essential features for modern-day financing. The latest updates of the tool are making it idle for use in 2021 at a cost-effective rate. It is cloud-based, user-friendly, and ensures easy third-party app integration. The advanced invoicing features ensure that businesses are able to send quick invoices to clients & consumers.
FreshBooks has four different plans – Lite @ $6/month, Plus @ $10/month, Premium @ $20/month, and Select with custom pricing rates. Businesses get a 10% discount on early payments if they choose to pay early. Different third-party apps can be easily integrated with FreshBooks like Gusto, Stripe, G Suite, Shopify, and others.
QuickBooks
QuickBooks is one of the top-rated accounting tools all over the world! The different versions of the software make it suitable for use in different industries & sectors. It can be used by organizations, enterprises, CPAs, and freelancers in successful financing. The features include easy invoicing, inventory management, the quick generation of reports, fund management, tax compliance, and more. The cloud-based tool has all the characteristics to maintain financial hygiene in a company.
The tools are updated on a regular basis by Intuit and thus the CPAs are able to fix the financial troubles quickly. It also provides an easy integration feature to instill flexibility in managing other business operations. The QuickBooks mobile app ensures easy tracking of mileage while capturing photos of the business expenses.
For enhanced accessibility and security, consider exploring accounting software hosting services, enabling seamless access to QuickBooks from anywhere while ensuring robust data protection.
Wave
It is an accounting tool for service-based businesses looking for simple invoice solutions. Wave is the best accounting tool for freelancers that covers features as per the financing needs. It is easy to generate all the right kinds of reports using the software. There are no billing or transaction limits with the tool and allows the running of multiple businesses in one account. It is a free tool that can be used by businesses looking for simple accounting at a cost-effective rate. The features include expense tracking, financial reporting, invoicing, bookkeeping, and others.
The software offers two payroll plans – one is $20 per month plus $6 per contractor or employee; the second plan is $35 per month plus $6 per contractor or employee. It is the type of tool that ensures easy financial management and tracks the movements of business funds.
AccountEdge Pro
It is the top-rated accounting software in the U.S. and a lot of first-time businesses prefer the tool for easy accounts management. AccountEdge Pro is fit for all businesses and is an on-premise application offering the convenience of remote account accessibility. It also gets easily integrated with other apps for simple business operations. The software offers a strong invoicing capability and the billing functionalities are able to track all the billable & non-billable hours. The automation of the tool is easing the headache of a lot of businesses with complex calculations.
The latest additions to the AccountEdge Pro software include automatic bank feed, connecting to all the global banks & credit card accounts, advanced reporting, and others. It also includes a Contact feature for customer tracking & employees using a single database.
Sage 50cloud Accounting
The tool is commonly known as Peachtree software and is referred to as the hybrid solution installed on-premise. Sage 50cloud Accounting is also having the option to connect to apps remotely when needed. It is the best choice for SMBs, with the availability of multiple plans. It includes a strong inventory module and the POS (point-of-sale) app integration for retailers. The software also includes a mobile application for Android & iOS devices.
The software has three basic plans – Pro with a yearly pricing of $340, Premium with a yearly pricing plan of $510, and Quantum with a yearly pricing plan of $842. It is a tool meant for the advancement of small businesses and allows easy online accessibility.
Zoho Books
Zoho Books is the accounting software ideal for startups, freelancers, & solo proprietors. For businesses with tight budgets, Zoho provides the easiest option to maintain books at an easy cost. The software includes a strong inventory management feature with step-by-step directions from account setup to invoicing. It has a long list of features like automated workflow, accounts management, inventory management, and the ability to create custom invoices.
The easy payment option of the tool makes it ideal for instant financing solutions. One of the top benefits of Zoho Books is the number of resources devoted to non-accountant users.
Final Thoughts!
Businesses need to select the kind of software that solves all their concerns related to accounting! All the above-mentioned accounting tools are highly rated in the US and promise to deliver the required accounting hygiene. Select the cloud-based tool to ensure remote access to accounts and also provide a level of security to business data. Start with a modest plan and upgrade the plan as per the need! For businesses eyeing future expansion, need to select the right type of finance tool that delivers the best results. The tool is providing a greater comfort level for new businesses & accountants.
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