THREE BEST ACCOUNTING SOFTWARE FOR THE ENTREPRENEUR

If you are starting off your business and access to very small start-up fund then you will agree with me that employing someone to do your income, outcome, sales, expenses, payroll, invoicing, inventory and taxes documentation might be biting a chunk off your startup fund. Technology has since been man’s best friend other than pets as it keeps evolving in ways to make task easier to be executed.

Here are three best accounting software for your financial documentation and analysis:

Quickbooks

Quickbooks keeps track of your deposits and expenses by downloading your banking and credit card transactions. You can assign categories for each transaction—like “Supplies & Materials, Cost Of Goods,” or “Meals & Entertainment”—setting you up for tax time. When you first sign up, it goes back about three months, so several transactions may “need your attention.” This can be a bit of a time suck when starting out, but the system begins to recognize certain vendors as certain categories and will automatically match them, you just have to approve with a click.

Quickbooks offers both online and desktop versions of their product.

Wave

If you’re a struggling startup that has to squeeze as much you can from every penny, then consider Wave as your accounting software of choice. It’s free.

Even though you don’t pay anything for it, Wave offers a double-entry bookkeeping and financial statements. It also lets you upload bank statements and credit card statements to make your life a little bit easier. Finally, Wave is always being updated so you can expect more features to be added periodically.

Freshbooks

The site’s text is conversational and light-hearted, with jokes and a witty squirrel mascot, presumably to please the Internet humour of freelancers. Under the “People” tab, instead of “Customers,” you’re dealing with “Clients” and “Staff and Contractors.” In the invoicing section, you can choose a “classic” or “clean” style of invoice; the classic style looks very square next to the Freshbooks’ own clean style. Their accounting services, including tracking expenses and linking to your bank account, or generating accounting reports and dealing with sales tax.

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