What to look for when choosing the right small business accounting software.
Start Up Handbook series part 7, There are many good choices for accounting software...the question is which is best for your business?
Not all small businesses are built alike. From startups and micro businesses to growing and established companies, small businesses have diverse accounting needs. Out of dozens of accounting software products available we have picked out what we believe are the top ones for different types of small businesses.
Here is a roundup of our best picks and how we chose them:
QuickBooks Online (Small business overall) : Intuit QuickBooks Online offers a wide range of features for all types of small businesses. This includes freelancers, consultants, online merchants, store and restaurant owners, service providers and more. Whether you're just starting out, expanding or have an established business, QuickBooks Online is packed with basic and advanced features to meet your accounting needs.
- Choose from three plans, starting at $9.99 per month
- Save time with workflow automation and easy navigation
- Used by accountants and integrates with more than 150 business apps.
FreshBooks (Mobile devises):
Most accounting software products have a mobile app, but not all apps are created equal. Of all the accounting mobile apps we considered, FreshBooks wins for its ease of use, excellent customer service, and for offering all the features small businesses need to manage their finances on the go.
- Choose from four plans, starting at $9.95 per month
- Simple and intuitive user interface
- Features a comprehensive set of tools for on-the-go accounting
Wave Accounting (Free):
Accounting software costs add up. And not all small businesses will benefit from a paid service. Instead, Wave Accounting offers a free, cloud-based accounting software specifically designed for small businesses. Unlike other free accounting software programs that limit capabilities, Wave Accounting offers a comprehensive set of accounting features without the monthly price tag.
- Free (with ads visible)
- Cloud-based with basic accounting functions
- Customer service costs extra Additional features available with paid service
Zoho Books (Really small businesses):
Really small businesses need really simple accounting software. Zoho Books offers all the basic features microbusinesses need, as well as advanced tools that grow with your business. Furthermore, compared with other accounting software for really small businesses, Zoho Books has the best price for all of its capabilities.
- Best pricing — $24 per month includes all features
- Clean layout with clutter-free dashboard
- Connects with popular online payment gateways so you can get paid faster
*After you choose your accounting software, you may still need an outside accounting or bookkeeping service to help your business with taxes or handle more complicated bookkeeping tasks.
This series ongoing series handbook prepared by Marjorie Weber was prepared will also be part of the Miami Bayside Foundation to qualify small business owners for the Miami Bayside Foundation loan program.
Handbook series Small Business Start Up Part 1: Small Business Start Ups Making It Legal; Part 2: Small Business Start Up Capitall Access Primer and Key Steps ; Part 3 Definitive Steps to Create the Optimal Small Business Growth Team; Part 4: Once You Have the Dream Team, It's About Employee Retention, Part 5: Delegating Responsibilities Policies and Procedures - Letting Go Part 6: Breaking Down the Set Up of Small Business Financial Records
About the author
Marjorie Weber has been educating entrepreneurs and guiding them in their search for capital for the past 16 years: combining business training programs with one-on-one mentoring. Marj is currently a financial advisor for Florida SBDC at FIU. She was Chair of SCORE Miami Dade from 2010 to 2014. She also serves as an advisor to the Goldman Sachs 10,000 Small Business Program and the SBA Emerging Leaders Program and provides training for Veterans seeking an entrepreneurial path upon retirement from the service. She has been facilitating workshops under the auspices of Miami Bayside Foundation for the past 3 years. She commenced her career as a real estate investment banker in New York and Miami.She uses these long term relationships to assist her clients in accessing capital. She knows both the process and the people and has assisted in providing financing for hundreds of businesses in Miami Dade.