Master Your Company’s Finances: 5 Must-Have Accounting Tools for Small Businesses
Are you the owner of a small business and need some help managing the company’s finances? Here are 5 must-have accounting tools you should consider.
Managing your company’s finances can be a real headache. You have to contend with payroll, profitability, invoicing vendors, and paying vendors on time.
At many businesses, someone with several other responsibilities at the business also handles the accounting.
To make sure your accounting is done right, you need to rely on accounting tools to help you get the job done. Fortunately, there are plenty on the market that can assist with accounting.
Here are the ones that you should take a close look at in your business.
This is where many business owners start and stop when they evaluate the various accounting tools. There’s a good reason for that, too. QuickBooks offers small to mid-sized businesses everything they need.
The software can process payroll, manage expenses, pay vendors, and track your inventory. There are different versions of Quickbooks, starting at QuickBooks for Self-Employed on up.
2. The Pay Stubs
One of the toughest things to do as a small business is to calculate taxes and print out pay stubs. The Pay Stubs takes care of all that for you seamlessly.
This is perfect if you have a few employees or you work with contractors. They’ll always need to have proof of income if they need to get an apartment, buy a home, or get a personal loan.
Check out their homepage for more information.
3. Wave Accounting
What makes Wave an exciting option is that it’s free. Yes, 100% free. They make their money only if you decide to accept payments through Wave. Then, they’ll take a small percentage of the transaction.
Wave offers everything from invoicing, bank connectivity, and support for personal and business accounts. It doesn’t have a lot of the bells and whistles that QuickBooks has, but you can always start with Wave and grow into another tool.
This is the solution for freelancers who need to keep track of hours worked for clients. You can track your time and then use that to bill your clients, which can make it a great business solution.
It makes for an easy invoicing tool that has the ability to accept payments, too. If you have multiple team members, you need to get a software solution that supports payroll.
5. Zoho Books
Zoho is an interesting accounting tool by the same company that offers CRM, email marketing, help desk, and app builder tools for small business.
You’ll want to use Zoho if you’re already using the other tools by the company. As a standalone, its big feature helps you determine your sales tax liabilities.
Accounting Tools to Grow Your Business
One of the most time-consuming things for businesses is managing money. If you get it right, then you have a thriving business for years to come.
Get it wrong, and you’ll find yourself scrambling for the next client more often than not.
The accounting tools listed here can help you with virtually any task. You can start with something basic and then move up to different tools as your business grows. You can also combine tools to make sure you have all your accounting needs covered.
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