Accounting is critical to managing finances, but accounting is a cumbersome and time-consuming process for small business owners. The easy way to manage business finances is to utilize the available tools. Accounting software helps you manage cash flow, generate invoices, have an audit-ready business, and prepare for the future. These tools make handling your small business more straightforward. Expensive software is not recommended for a small business because it has to manage simple accounting operations and general ledgers. Cloud-based accounting software is simple and has packages specially designed for small businesses. These are accessible online and simplify accounting tasks such as bookkeeping, purchase history, and inventory management. The application vendor provides updates of new versions and backup data storage services.
Here are five cloud-based accounting software with reasonable prices.
Fresh Books
Fresh Books is an online accessible accounting application. Fresh Books is a well-known software small business owners, freelancers, and entrepreneurial agencies use to handle accounting processes. It is a user-friendly tool and is preferable for a service provider.
You can access it from a desktop computer and mobile phone. It has many features used to simplify accounting processes. It makes it easy to track expenses, make online payments, generate customized invoices, develop reminders of late payments, purchase history with time-tracking client records, and manage different projects with different rates. Many useful reports are also caused by this application, i.e., Profit and Loss reports, taxes, and accounting reports.
It is easy to use the app and can be used by owners without financial background. The Fresh Books Help boxes guide the user to the next step while performing any task. And the user doesn’t find it challenging to use.
A 30-day free subscription to Fresh Books is available for new users. After that, it costs $19.95 a month.
QuickBooks Online Simple Start
QuickBooks is simple accounting software, accessible from smartphones and is especially useful for small businesses. It generates customized invoices, tracks expenses, and sales, and downloads bank transactions. The data saved on QuickBooks can be exported to other apps like Excel for generating required accounting reports. Payroll can also be processed by using QuickBooks. Its 30-day free trial is available for beginners.
Kashoo
Kashoo is a cloud-based accounting app for small businesses, accessible from the Web browser and iPad. It has a simple dashboard for pending transactions. It has the following features:
- Creates professional invoices
- Categories income and costs
- Connects with online credit cards and bank accounts
- Online Sharing of data with an accountant
- Reconciliation of accounts due to the double-entry accounting process
- Twenty transactions per month are free
Outright
Outright is an online cloud accounting system for small businesses to track expenses, profit, sales, and customers. Bank accounts and other sites like PayPal, eBay, Fresh Books, and web stores can be connected to Outright, and data can be easily exported from one app to another. The data can be organized into categories approved by the IRS, so workload and stress due to tax are decreased. This app is also accessible from an iPhone and mobile devices. There is a free version of Outright with limited features available.
Xero
Xero‘s online accounting app is used to manage bookkeeping for small businesses. It has the following features:
- A dashboard with bank balances, expenses, and invoices
- Customized reports required by small businesses
- Tracking cash flow in real-time
- Graphical presentation of data
- Data can be shared and accessible to accountants and others
- Generating customized reports and reminders to customers
- Scheduling of payments and returns
Apple, Blackberry, and Android applications are available. Many add-ons like CRM, invoicing, and inventory management packages are also available on demand.
Conclusion
The FreshBooks mentioned above, QuickBooks, Kashoo, Xero, and Outright, are affordable, simple, and easy-to-use online cloud-based software. These software and applications make bookkeeping and accounting operations easy and less time-consuming.
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