How accounting software for business can help is already known but when it comes to the selection the choices it can be a daunting task. You should just buy accounting software after examining your potential future needs and current requirements before buying accounting software for business.
If you have just begun with business as the only proprietor you can probably manage with small bookkeeping software with basic tools like billing/invoicing package, produce basic reporting and expense tracking. A robust and complete accounting package which has features like double accounting system may not be much use at the beginning of a business.
Manage with add-on features:
If your current needs are fulfilled with basic accounting software which has some features missing in it, you can easily fulfill your requirements by adding third party applications to your already installed software. Almost all popular accounting software’s are available in desktop, mobile and online versions.
Important features of small business accounting software:
- Task Management.
- Income and expense tracking.
- Cash flow management.
- Multiple users support.
- Project tracking.
- Customer and vendor management.
- Link to financial institutions.
A bookkeeping software for small business is an inexpensive solution for your accounting purpose that does a job of basic book keeping and invoicing is ideal for independent contractors or small businesses. It supports IOS and Android apps along with the common web browsers. The small book keeping versions include basic features like reports, time tracking, payment reminders, auto billing and invoicing. It makes your task easy by easily integrating with numerous payment processors. In short small keeping, the software can be described as a robust and complete billing/invoicing solution.
Book keeping software has user-friendly interface and wealth of features. Almost all the book keeping software comes with a 30days free trial for both online and desktop version. In short, a book keeping software is a true and tried comprehensive small business accounting solution. It does almost everything that an Indian business needs to do by keeping it updated with government new announcements and regulations. All books keeping software comes with three pricing plans:
Starter: It is best suited for freelancers and contractors who have a lesser number of monthly transactions. Say a maximum of 10 bill payments, 10 invoices, and 20 bank transactions.
Standard: It is also meant for small business enterprises but through the standard package, you can enjoy unlimited billing transactions, monthly invoices, and bank transactions.
Premium: It is mostly for a huge organization or organizations who deal in import and export as it supports multiple currencies.
However, it’s not that if you have purchased a particular package and then you realize that you need to change your plan, you can easily downgrade or upgrade your plans.
Serious About Security: The best and arguably the most important features of this small book keeping software is that the bank data connections use 256-bit encryptions and are read-only. Their servers are housed under electronic and physical protection.
Takeaway: Only large enterprises need accounting software is a myth as all businesses be it small or large has to be accounted regularly to know where your business stands.