The corporate world is changing faster than ever before. Every morning witnesses great competition among the firms and companies to maintain a competitive edge over others. In such a case, the most crucial aspect to look out for is the best possible use of technology. Technological environment in one’s form or a company paves the way for its brand image and reputation in a particular industry or sector. Adaption of latest software and routine up gradation of certain key areas can transform the results dramatically in the long run. The present time is all about start -ups where young talent is entering into this competitive world to prove their mettle. The primary step which the small businesses or the start – ups really look out for is the adoption of some accounting software to avoid any kind any legal issues at any point of time.
Small Business Accounting Software is the current buzz in the corporate sector because there are a number of norms to take care of while doing a certain business. In such a case, it becomes very important particularly for the small businesses to select that particular software that guarantees ease of use, compatibility and security. Business clearly means to get the best by investing the least. Therefore, the selection of such accounting software is the foremost step for small business men to prove their business skills per se.
Let’s discuss some best accounting software which will allow flexibility in your daily operations by customizing some processes effectively, efficiently and economically.
Small Business Accounting Software List Below
To start with, let’s discuss about the latest accounting software making headlines in the corporate sector. Myentry Accounting Software is a brain child of Bharti Software Limited which provides a practical software solution to all its clients and users. This particular software has been designed keeping in mind the latest amendments and changes in the taxation and accounting system. All you need to do is to give it a try initially and consequently accept it for your further business transactions.
It helps in timely filing of Income Tax Returns and takes very good care of the business finance data as well. It is a GST accounting software and is apt for the traders who are finding it difficult to understand the latest introduction of Goods and Service Tax in India.
One of the best accounting softwares in the recent ties, Freshbooks is a well -balanced option available for small businesses due to its inexpensive pricing and excellent support system. The best part or feature to look out for in this very software is its scale depth. Together with this, the software is also equipped with time tracking and expense management system that has created another surge of reforms.
Freshbooks tops the list of best small business accounting software due to a number of other reasons listed hereunder. The software aids the management in cloud invoicing which allows access to anyone with authority at any geographical location. The payment processing system in this software is very efficient and provides its users a clear cut description as per their requirements. The reporting feature is also at its best and assists the management in dealing with serious issues such as tax management and tracking procedures.
Moreover, one can access this software on the smartphones as well where it is known as the most responsive accounting software in the current times. This software ensures customer satisfaction with its proactive approach during the grievance redressal process.
The intuitive interface of this accounting software makes it different from the rest tools aiding the management in looking after the financial system. The small businesses have reaped exceptional benefits from this software as a reason of which, Quick Books Online is serving a customer base of more than 2 million satisfied users.
Be it the beginners or the experienced Chartered Accountants, this tool cater to the needs of all with a large variety of scalable functions. Another tremendous prospect to look out for in this software is that it automatically suns all your financial business profile at one place. This enables all the users to have in depth knowledge of company’s performance in the most transparent way.
But as each coin has two faces, the management of this software is working to improve its support system at the earliest.
Finding a top place in the list of best accounting softwares, Zoho books is an apt choice for the micro – businesses. It is equipped with some sumptuous qualities such as online collaboration with customers, tracking invoices, inventory management and automated workflows.
The customer support section of this software is really worth appreciating. A comprehensive support system has been established on the website wherein each customer can benefit him/her without investing anything. However there is no free premium plan for this accounting software. It charges $9 from the first month only for its use. As it is a universal fact that security is paramount in accounting. Zoho Books has been tagged as the most secured software. It provides payment certifications, data encryption, authentication control and data backup.
Arithmo is one of the leading accounting softwares in the current times due to its ability to calculate the invoices and tax liability automatically. It is more popularly known to be a big helping hand for the small businesses in particular. It is very well known for expense tracking and managing the business bank accounts effectively.
It assists the management in preparing the bank reconciliation statement and provides facilities of easily back up of various accounts.
A further intensified example of accounting software is Xero. This particular tool is regarded as one of the choice in the field of handling transactions because of its Mac User Interface. It provides unique services such as integrated payroll module, expense claims dashboard, bank reconciliation and so on. The software website provides for free trial for the very first month, Thereafter the service terms are agreed upon by the user by paying a minimal amount on a per month basis. The Mac module feature in this software is really a new buzz in the corporate sector of the small scale industries.
Downloaded by a number of start- ups in a very short period of time, Wave Accounting Software is hitting the markets like anything. The reason for the same is that it is very handy for a small business or a consultancy firm where the workforce is limited to 10 people. The companies with tight budget can opt for this software in the initial days as it is very helpful in handling day to day financial transactions easily.
This software is only apt for the businesses which are in the initial stages of setting up a small business. No doubt, the software can easily handle petty cash transactions and comes handy in case of managing small expenses effectively.
The first month use is absolutely free for the customers of Wave. Even after the first month the monthly amount to be paid is very less.
The mentioned accounting softwares have proved really successful when it comes to deal with the transactions of small scale industries. These are new to the corporate market but regularly striving to provide the best in the least.
Licensed under the GNU GPL, GnuCash is effective financial accounting software which enables its users to maintain double entry accounting, import export transaction matching, reporting, graphing etc.
The software is designed with a very easy user interface and a handy dashboard ready to tackle almost all the problems arising in the routine operations of small scale businesses. This particular software aids in tracking bank accounts, stocks, income and expenses simultaneously. It is based on professional accounting principles to ensure balanced books and accurate reports per se.
Gnu Cash offers its services on its official app as well. The app is very easily available on the Android and the clients and users of this very software can use it as per their requirements and fore deals.
With more than 12 years of corporate experience in the small business sector, Hiveage is known to be one of the best accounting softwares. It assists its users to generate quotations for the clients and receive the acceptance on the same online. Auto billing for recurring services is another facility available for the small business houses which aids them in a great way indeed.
Hiveage is popularly known for its integration with more than a dozen online payment gateways. This service is designed in a way that it is eveready to serve the clients of Hiveage round the globe at all the official hours.
The software keep its users up to date about the latest amendments and other reports pertaining to tax and financial issues.
Nola Pro is incredible accounting software for the small business units who are confused for the management of receivables and payables in the initial stages of the business. The software allows its users to change the setting as per their requirements by providing over 100 add on options and tons of setup choices. It is a fully customizable solution for managing a small enterprise efficiently and effectively.
The software incorporates multiple layers of cyber security measures to ensure safety and avoid theft of confidential information of clients and vendors. It is also equipped with full payroll check process support systems with W-2/941 forms.
Another magnificent software known for its effectiveness in the corporate sector since a pretty long time is the Clear Tax accounting software. Clear Tax software is embedded with a unique tax validation engine to avoid any kind of errors or duplication in the transactions. It provides services like sharing important data between business and their respective CAs with no cost integration. It ensures easy integration with ERPs like Tally and SAP with 100% accuracy in the invoicing process.
Clear Tax is known to be a tax pioneer in the industry and helps in understanding the technical aspects of the implementation of Goods and Service Tax and its impact on the ERP systems.
Another brilliant example of ultimate simplicity and sophistication is the use of Manager accounting software. This software uses cloud technology as a reason of which the users of this software can work from any corner of the world at any point of time. There is a unique login id for each of its user and client and the data is automatically saved and backed up.
The user is very easy and intuitive as a reason of which the professional team customizes the software instantly without any configurations and technical bits. Even the person who is a non- accountant, would be able to handle this software with great ease and effectiveness. One can simply track the record of expenses and incomes pertaining to a particular period.
Cravelnvoice is a complete accounting software for small to medium size business. It includes all necessary features including inventory, invoicing and accounting management. Its starter subscription price is INR 600.
It provides a number of features such as POS Invoicing, Tax Management and multi user login together with role based access.
As far as the specifications of this very accounting software are concerned, it exhibits deployment, payment, API, customization and mobile & language support system. The company which designed this particular software is named as Reflection Software Solutions Private Limited, head office of which is located in Aurangabad.
Fraxinus is an integrated Advanced GST Ready Billing, Accounting and Stock Management Software for Small Business that can be operated from (Online or Offline) Desktop Computers and Mobile Application.
The standard version of this software is priced as INR 12000.
Some of the features of this special accounting software include Multi Branch Management, Auto SMS alerts, Bar Code Management, reports and graphs for the analysis of business etc. The software provides a web based reporting with multi company connectivity at a particular point of time. Quotations and Estimates can easily be recorded with the help of readily available settings on the dashboard.
The above mentioned softwares are a boon for the small business units. A number of reasons have already been discussed for this. Simplicity, flexibility, ease of use and security are some crucial reasons for the acceptance of these softwares by the dealers with a lower turnover.