The 10 Best Accounting Tools for Small Businesses in 2021
As a small business owner, there is a lot to consider when starting up, one of these elements being the need for accounting expertise and keeping your financials in check. The question then is can you justify and afford a personal business accountant? Many small businesses turn to online accounting software to fill the position of accountant. There are however a plethora of options for accounting tools and apps and finding just the right one to satisfy your business needs and budget can be tricky.
Let’s look at the 10 best accounting tool options for your small business.
Freshbooks
Freshbook is the perfect tool for non-accountants with easy-to-use design and functions. This is the perfect tool for small business owners, freelancers and accountants. Freshbooks supports an extremely large variety of customer service apps which makes integrating other aspects of your business with this tool a breeze. Freshbooks comes with a free 30-day trial which you can use to test out its capabilities and see just how easy it makes keeping track and managing the financial aspects of your business.
Intuit QuickBooks Online
QuickBooks Online is the all-around interface for small business owners, from those that have little experience in accounting to the serious accountant that likes to keep track of every penny. This tool gives business owners the ability to manage their financials with ease. The statements are easy to understand and can be customised to fit your specific needs. QuickBooks Online is a bit pricey but it offers all the possible tools you might come to use under one roof.
Sage
Sage is perfect for a person that does not like wasting too much time on accounting or administrative tasks. This cloud-based accounting tool has a wide variety of features that can be customised to your liking. This accounting tool makes it possible to share your financials with other applications that you may already be using. It is well suited for small or medium-sized businesses.
Wave
Wave is the accounting tool for freelancers and small business owners alike. What sets Wave apart from its competitors is that it is completely free. It is perfect for a startup company that does not have finances to spend on things like highly developed accounting tools. The app offers a wide variety of integrating abilities connecting your financials and statements all to one easy-to-manage platform.
Xero
Xero is the perfect accounting tool for the small business owner that is always on the run. Xero’s strong suit lies in the fact that it can integrate with 500 other apps. The flexibility of the app is on another level. It has all the basics you would like to see as a small business owner, yet this app will stay relevant as your company grows more complex.
Kashoo
Kashoo is a simplistic solution for all your small business accounting needs. The tool can adapt to your ways and makes it easy for anyone to keep track of income and expenses with its impressive machine learning technology. For someone that gets overwhelmed by the accounting side of the business, this is the perfect software to use with its step by step instructions and excellent customer support features.
Zoho
If the prospects of accounting seem daunting to you, Zoho is the tool for you. This app makes the process of accounting a more manageable and stress-free activity. It is a cloud-based app that offers more than enough tools and features for a small business. The price is based on how much of the app you make use of.
Sunrise
Sunrise is the perfect app for the do-it-yourself accountant. It is most ideal for sole proprietors and freelancers that need to track their income and expenses. It’s easy to set up and has many features like software-generated invoices. This tool really makes accounting a quick and hassle-free activity.
OneUp
OneUp is the ideal accounting software for the business owner that does not like to be overwhelmed by big statements every time they want to check up on their financials. This accounting tool offers a quick overview when logging in to keep you up to speed with the important aspects of your financial standings. This app is easy to set up in just a few steps and offers all the professional accounting needs you might need as a small business owner.
ZipBooks
ZipBooks is perfect for the small business or freelancer that might need to keep track of their hours as a means of business. Unlike most of the accounting tools listed above, ZipBooks has great time-tracking capabilities. It comes with a built-in timer that makes a seamless transition into your financials. ZipBooks is easy to digest and has all the financial statements and features you need to get started with your business.
Making sure the numbers add up at the end of every month and year can mean the difference between financial success or failure. Make sure to invest in the accounting software that best suits your company’s needs, and keep in mind that it is important to know when you’re in over your head, in which case you need to consider outsourcing. At Leading Edge, we pride ourselves on simplifying key financial information so you can spend your time on building your business.
Contact Leading Edge for all your accounting needs today, and visit our blog for key insights on better understanding and managing your finances.
