Are you a small business owner that can’t keep up? 60% of small business owners aren’t knowledgeable about accounting. If you fit into this category, you don’t have to let that slow you down.
There are a ton of accounting tools out there to help you become more efficient. Let’s take a look at 5 that will help make you a pro.
5 Accounting Tools You Need
The accounting tools that exist on the market today help with a vast array of needs. This list is not all-inclusive, but it’ll help you get started on your way to better accounting!
FreshBooks is a web-based software application that focuses specifically on small business accounting. You don’t have to download or install any programs on your computer, you just open it in a web browser.
FreshBooks basic functionality includes creating invoices, tracking time, and inviting team members to join projects. If you’re looking to process payroll through this tool, look elsewhere as it doesn’t have this function.
2. QuickBooks Online
QuickBooks Online is also a web-based software application, though its features are slightly different than Freshbooks. Like Freshbooks, launch any web browser to use this tool.
QuickBooks features include income and expense tracking, the creation and management of invoices and estimates, and payroll. The payroll is available at an additional cost, and it gets pricey if you have many users.
3. Wave Accounting
Wave is quite different from the first two accounting tools we’ve discussed. It’s perfect for small business owners on a tight budget as it’s offered for free. Wave’s business model connects it’s users to products and services they may benefit from.
Need business insurance or cell phone plan deals for your employees? Wave helps with that! With this tool, you create invoices, reports and balance sheets, accept payments from clients, and can even connect your bank account. The features are simple with no frill but perfect for someone who needs it just to get the job done.
Xero is a mix of both QuickBooks or FreshBooks and Wave Accounting software. It offers features built into the software, but there is room for adding new features and integrating with other services. There are over 500 apps to choose from like Shopify, a Time Tracker, or a CRM system.
With Xero, you create and send invoices, and choose from a variety of applications to integrate into the platform. This is great if your business has unique needs.
Lastly, small business owners need a paycheck stub maker. PayStubCreator is a web-based platform that helps you with payroll calculations, provides instant delivery of checks, and ensures accuracy when it comes to your finances.
The Need for Tools
As a small business owner, the last thing you need to worry about is making sure your employees are paid or your finances are in order. Check out any of the five accounting tools above to improve business productivity, efficiency, and make your employees and the IRS happy.
If you’re interested in learning other ways to incorporate helpful technology tools, reach out to us today!