To run the business in faster level and make your work easier for you there are many accounting software available in the market at the moment. With so much option in front of you and when there is so much every software is offering to your business.
First of all the thing that one should be aware of while purchasing a software is that it should be an online or also known as cloud based software. A cloud based accounting software provides many facilities and benefits that an offline software lacks in.
With cloud accounting software you have no risk of losing your accounts to system crash or any mishaps and you can comfortably access your accounts from anywhere.
Secondly, you need to ask yourself why do you need an accounting software and in what ways it will improve your business. Learn about different software and their features, take up free trails and talk directly to the vendor for details before you shortlist any.
Here are the top 6 cloud based accounting software for small business that will give you an idea about which software are taking the market by storm and why they will be beneficial for your business:
It is a simple cloud based accounting software. This software is designed to help small business manage the accounts and other departments that helps in management. It allows you to access your accounts from everywhere. It is simple to use as the guide is provided step by step. Freshbooks is available for free trial for 30 days.
Its features include:
- Creating professional invoices just in seconds
- Captures all the expenses easily
- Allows you to track time
- Gets you paid faster and accepts all credit cards
- You can check your financial status easily
- Your entire business remains under your control
This software is one of the best software for small business. It is a worth buying software and has a lot of versions to select from. It allows you to see the unpaid bills and sends you reminders which saves you from missing out on bills.
Features of Quickbooks are:
- Lets you see who owes you money with reminders
- Take glance of your financial status instantly
- Have a look at your balance sheet, P&L and tax details
- The monitor key trends in your business that includes cash flow and revenues
- Raise estimates and prepare invoices with ease
- Online banking integration
- Allows multi user
- Tracks sales and expenses
This software is also a simple accounting software that helps you access your accounts from ipad or any web browser. However, the users are limited to 20 transactions per month. It keeps your bookkeeping organized so you don’t need to have a bookkeeping itself. You accounts are systematically stored and there are no extra apps that will make it messy for you.
Some of its features are:
- Invoices and AR
- Quick entry
- Bank import
- Cash flow
- Tax reporting
- Bank level security
- Managed backups
- Mobile app, etc
It is mainly used for keeping track of expenses and finance. You can view profit and loss and link your existing accounts like bank, paypal, credit cards, etc. Outright organizes all the data into IRS approved tax categories and lowers your workload as a result.
Its features include:
- Profit and loss
- Customer reviews
- Customer stories
- Online and in person events
It allows you to check cashflow in real time. Xero helps in collaborating online so the small business employees can work together. It also helps in making online invoices so you can reach out to your clients online.
Features of Xero are:
- Easy invoicing
- Multi currency
- Go mobile
- 500+ third party apps
- Attach files to data
- Create purchase orders
- Claim those expenses
- Pay bills
- Reach accountant
Reach accountant is an online accounting software. It is user friendly and gives bank level security to your accounts. Its dashboard allows you to see the best sales executive, highest value customer, highest selling product, work progress, profitability and expenses graphically.
Reach has 20 templates for invoices and you can create your own professional invoice using this feature. It also allows you to access your accounts from anywhere but accessibility limitations can be set for your safety.
Features of Reach accounting software are:
- Purchase and expenses