Small businesses are always looking for ways to save money. One way is to do the accounting work themselves. There are a number of different software packages out there that can meet a small business owner’s needs. This article from The Balance Small Business discusses 6 advantages of using small business accounting software to help run your business. Please enjoy the article and email me at firstname.lastname@example.org with any questions you have.
Source: thebalancesmb.com | Re-Post Scott Meister 11/8/2018 –
Almost all of the small business owners I meet love to save money by doing things themselves. Using small business accounting software is one way you can do that.
Almost all accounting software vendors have moved their products to the cloud and offer online subscription-based services ranging from basic to advanced in features and price. For around $10/month vendors such as FreshBooks and Zoho offer starter packages suitable for freelancers and sole proprietorships, including invoicing, expense tracking, and simple reporting.
Businesses that are incorporated and/or have employees typically need more advanced accounting packages such as QuickBooks and Sage 50 that can perform double entry accounting, which includes Accounts receivable, Accounts payable, and General ledger capabilities. Other features available in more advanced offerings include payroll, multi-user access, currency conversion, time and billing, inventory tracking, customer relationship management (CRM), analytics, and more.
Regardless of your needs, accounting software can be a good compromise between trying to do your own accounting using spreadsheets and hiring a professional to do all of your small business’s accounting.
Here are the main advantages using small business accounting software offers you:
Author: Scott Meister, CPA
I help small businesses, accountants, bookkeepers, office managers, and business owners with their accounting needs. I’ve used QuickBooks since 2002 and train folks on how to use it efficiently. I create high-quality video training tutorials for QuickBooks and post them on QBScott.com.
Certifications include: Certified Public Accountant (CPA) | Certified Bookkeeper (CB) | Advanced Certified ProAdvisor for QuickBooks Desktop | Advanced Certified ProAdvisor for QuickBooks Online | Certified ProAdvisor for QuickBooks Enterprise | Certified ProAdvisor for QuickBooks Point Of Sale