The best small business accounting software for your business is the accounting software package that will meet all your small business accounting needs and make your life a little easier.
For some people that may be an accounting software package with all the bells and whistles and for others a simple less complex accounting software package will work a hundred times better for them.
Here are a couple of things to keep in mind when researching for the best small business accounting software for your business:
Choosing the Best Small Business Accounting Software for your Organization:
- Consult your accountant. If you have an accountant or plan to use one, go see them first. See what they would recommend and what software they could help you set up…if needed.
- Make a list of the features you need in your accounting software. Do you run your business from your home? Are you the only employee? Do you plan to hire employees later? Do you bank online? Do you have inventory? Do you extend credit to your customers?
- Search small business forums. See what other small business owners in your industry are using.
- Research software reviews. CNET and PCMAG are two popular software review sites.
- Consider your accounting skill levels and time you can invest in setting it up and maintaining it. The most expensive small business accounting software may not the best option for you if all you need is just simple basic accounting software. Or maybe you want and need the more complex accounting software that will let you generate dozens of different reports. Know your skill level and time you can invest.
- Decide if you need to use single entry or double entry accounting software. If you are a cash business with little assets and liabilities and just need to record and track income and expenses, free accounting software such as my Excel spreadsheets may be sufficient.
- Make sure the accounting software will conform to your type of business. If you have a service business, you are going to need software that will keep track of your time and billing. If you sell products, you will need to generate invoices and keep track of your inventory.
- Do they offer a free trial? See if you can take it for a test drive. You want a software package that you will be comfortable using, so you might want to evaluate it to see if it will be the best small business accounting software for you. It maybe a pain to get it all set up and discover you don’t like it, but it is a lot less painful it you didn’t shell out big bucks for it in the first place.
- Is it user-friendly? Your time is valuable and you don’t have weeks to figure out how to set up and use your accounting software.
- How is the support? Very important! Check out their support! Is it free? Do they have a 24/7 support telephone line? How about online help? Do they have a good print manual?
The following are some very good small business accounting software: