TOP 10 ACCOUNTING SOFTWARE
Importance of software in today’s business world is immense. The function of the organization is so complicated that it is difficult to handle it without software. Accounting has now taken on a dynamic form in the accounting of all activities and to solve this problem accounting software has been developed. Accounting software is used by businesses to help automate and manage payroll accounts, payable and receivable purchase orders and more. The accounting software industry is now a multi-billion-dollar industry with hundreds of competitive solutions available in the market. So, in this blog we will learn
- What is accounting software and
- What are the benefits of accounting software
WHAT IS ACCOUNTING SOFTWARE?
Accounting software is a software program that records business transactions and processes transactions within functional modules and provides the necessary information it functions as an information accounting system accounting software makes it easy to keep book accounts it is done in a few ways including software that lets a man keep his books unfamiliar with accounting rules benefits of using accounting software the importance of accounting software at the moment is enormous without it you cannot think of running a Business the benefits of it cannot be overwritten.
BENEFITS OF ACCOUNTING SOFTWARE
The key importance of accounting software is given below
- speeding up the information recovery process
- adding flexibility in the bank reconciliation process
- automatically planning value-added tax and goods and services tax
- save time and minimize errors
- provide computerized invoice money receipts
- provide cash flow statement and profitability report
- remove business complexity and perhaps most significantly offer inability to see the financial status of the business in real time.
I think you’re clear about what is accounting software and what are the benefits of accounting Software. Now let’s take a look on top accounting software available in the market.
TOP 10 ACCOUNTING SOFTWARE
QuickBooks: QuickBooks is an accounting software program used to manage sales and expenses and keep track of daily business transactions. You can use it to invoice customers, pay bills, generate reports for planning and tax filing and more it comes with a 30-day free trial. QuickBooks is at the top of the list because it has various options for different sizes of businesses
- Fresh Books: Fresh Books auto-mates daily accounting activities namely invoice creation, payment acceptance, expenses, tracking billable, time tracking and financial reporting. Fresh Books is easy to use and you can try it for free
- Wave: Wave offers 100% free real double entry accounting for small businesses as a cloud-based software. Wave allows you to access your data from anywhere and unlimited collaborators and work on all of your businesses from a single lock in apps, it is also available for iOS and android so you can take wave with you anywhere.
- Cero: Cero is a web-based accounting system designed for small and growing businesses. Cero connects small businesses with their trusted advisers and provides business owners with instant visibility of their financial position.
- Sage: Sage one is a cloud-based accounting and invoice management solution for small businesses. It offers core accounting project accounting expense management and compliance management within a suite.
- EXPRESS ACCOUNTS: Express Accounts has good enough features that match the needs of micro enterprises and small businesses it has a free version for businesses with less than five employees. Likewise, it is simple to use for basic accounting need with a browser-based add-on to allow multiple users without the need for additional licensing. Moreover, Express Accounts generates basic reports including income statement, analysis, cash flow statements, invoices and balance sheets. It has more than 20 pre-configured reports which can be saved as pdf or csv files. You can also directly email or fax reports through the software.
- NEW CASH: New Cash is accounting software designed for individuals and small businesses and was initially conceived as an open-source alternative to apps such as intuits quicken. This app has been around since the late 1990s and the most recent version is new cache 3.4. It’s available for Linux, android and windows.
- ADMIN SOFT ACCOUNTS: Admin Soft Accounts is a software accounting package that’s powered by advertising to generate revenue, making it free to download and use. According to the website more than 30,000 people have taken advantage of what is a surprisingly thorough free accounting system and a refreshingly honest set of terms and conditions. It can handle not just invoicing and statements but also remittance advice stock. Controls purchase orders, budgeting and some HR functions too. It’s a UK based program so the default is pound sterling but it works happily in other currencies too.
- MONEY MANAGER X: Another superb open-source tool Money Manager X is well designed and packed with enough features to rival premium software. It’s easy to understand and you’ll have your accounts and transactions set up in no time. Money Manager X’s simplicity makes it a particularly good choice for sole traders or your own home finances. This free accounting software is a portable app so you can save and use it straight from a USB stick without even needing to install it. There’s an android app for updating your accounts on the move too.
- MANAGER: manager is an accounting solution that caters to small businesses across various industries such as retail food and beverage, non-profit education, consumer services and more key features include fund accounting, bank reconciliation, expense tracking, fixed asset management and payroll management. Manager supports multiple languages and currencies and provides users in offline mode that helps to manage their business operations when no internet connection is available. The solution can either be deployed on premise on windows mac and Linux based devices or hosted in the cloud.
Each of these accounting software named above, or plenty of others available in the market, they all are of significance importance as they excel in different areas of accounting. It is really up to you decide that which one is best for your business, and which software best matches your needs.