Depending on the services your business offers, you will need certain business software, including accounting software . Accounting software will help your business operate efficiently by keeping track of your day-to-day operations as transactions are entered into its database. Client files are stored and able to be accessed when needed. Financial statements , reconciliation, payroll, inventory, customer support, and many other functions are available when using accounting software.
Tax software is an option you should consider if your business will be handling clients tax preparations . However, accounting software includes tax assistance as an additional service, so purchasing accounting software might me all you need. Consider the software you are most familiar with from the following accounting software. Although there are many to choose from, the following are a few well-known accounting software brands.
QuickBooks pro by Intuit was created for small businesses. It is commonly used by small business owners for accounting and management software. This software has numerous features, including tracking expenses, preparing and sending invoices, preparing financial statements, and tracking inventory, to name a few. QuickBooks Pro will allow you to adjust the program to match your business category, whether it’s service or product based.
Also, you will be able to import data from Excel, Quicken, and Microsoft Office Accounting; accept credit card payments; and allow as many as five employers to work in QuickBooks Pro simultaneously. Setting up your bookkeeping business is fast and simple with QuickBooks Pro. This software is adaptable, making it easy to use and install. Navigation toolbars are present to help you explore the program thoroughly. There is less paperwork and instant invoices and expense tracking. You also get free customer support and timely upgrades. QuickBooks Pro was made to organise business finances. The price of QuickBooks Pro is around £500, in the UK.
Peachtree Complete Accounting
Peachtree Complete Accounting by Sage offers software for business management bookkeeping functions. Peachtree Complete Accounting provides more than 125 variable business reports and financial statements. Peachtree has features including invoicing, time and billing, financial reporting, inventory management, job costing (which allows you to determine which jobs are more profitable when you compare all job expenses against revenue for a specific job), and several other capabilities. Peachtree also has a feature that will automatically notify you if a duplicate reference number is created on invoices, quotes, or purchase orders. This feature is important because if you enter the same reference number twice, you may end up paying or issuing a bill twice; this feature will stop that from happening. Data entry is completed quickly and with greater accuracy with Peachtree’s auto-complete text fields.
Peachtree allows for real time error alerts, conversion from QuickBooks, and supplies more that 75 company account charts. Peachtree delivers easy-to-follow tutorials and instructions. It is simple to use and install. Peachtree has multiuser options that allow you to have control over who has access to your business data. The price of Peachtree Complete is around £200. Peachtree offers a 60-day, money-back guarantee for first-time Peachtree customer, so if you are not completely satisfied with its service, you will get your money back.
Peachtree also has an Accountants Network membership for bookkeepers and accountants that is an additional £350, however, it is estimated that the services offered will total into the thousands. This network is specifically designed to provide access to information, software, and support to assist in helping bookkeepers better manage their business and serve their clients.
Simply Accounting Pro
Simply Accounting Pro provides accounting software that prepares and creates invoices, pays bills; processes payroll; generates reports and graphs with Microsoft Word and Excel; and tracks inventory, revenue, and expenses. It is bilingual and prepares budgets and forecasts. Simply Accounting provides more than 100 predefined reports. This software is also easy to use with a Setup Wizard and New Business Guide to walk users through the installation process. If you decide to purchase Simply Accounting, you will receive a 30-day free trial. So, just in case you are not fully satisfied with its performance, you will get your money back. The price for Simply Accounting Pro is around £150.
Nomisma Complete Accounting
Nomisma offers a wide range of accounting solutions for businesses of every size. Owning to its comprehensive product offerings and smart pricing options, Nomisma is quickly catching up to its competitors, especially among medium-sized businesses. Nomisma offers something for businesses of every size and level of sophistication; developed by a prior accountant, it keeps end user experience in mind with all the bells and whistles you’d expect from an accounting software.
Nomisma has software packages specifically designed for businesses, and the ‘Make Your Own’ option lets business owner customise the software according to their specific requirement. This ensures that you buy only what you need. The Small Business and Sole Trader options are specifically designed to offer business planning tools and online advice to help you run your business. The option for Accountants covers most of the basic features of business software and more. Accountants can manage company payroll, submit self-assessment returns and conduct all their daily bookkeeping tasks. In addition, to all the accounting features, Nomisma for Accountants has a customer management system that lets users manage their customer relationships through an inbuilt CRM system. You get a 30-day free trial, so just in case you are not fully satisfied with its performance, you will get your money back. Prices vary from between the Small Business version and the comprehensive Accountants version; but, all-in-all its great value for money at that price.
Bookkeeper by Avanquest will provide your bookkeeping business with several functions to manage your business’ financial needs. This software manages sales and expenses; writes and prints checks; generates invoices; creates more that 125 customer reports; accepts checks, credit, and debit cards; processes payroll; manages inventory and creates purchase orders. Bookkeeper allows your business to download bank and credit card data directly into its software for reconciliation purposes. The installation process of Bookkeeper is simple with user-friendly Setup Wizard to get your business finances in order. You will receive free data backup protection and credit card processing for a limited time. Bookkeeper offers a 60-day, money back guarantee.
You can buy a download version online, and it you want the CD-RON version of the software, Avanquest will send it to you for an additional £5. Avanquest also offers an extended download period you can purchase for £9, giving you a chance to download your purchase software for their site for two years. If you do not select this option, downloading your software from Bookkeeper is available for a month. The price for Bookkeeper is around £20, but Avanquest has periodic promotions offering the software at significant reductions.
Choosing the right accounting software takes time and research. You want to pick the best software available to manage all your bookkeeping needs. Do not settle for less than average accounting software. If you do not know where to start, ask other bookkeeping business owners their opinions. Although, everyone has different needs, other bookkeepers’ opinions may be able to limit your search. Consider cost, east of us, and where to purchase the software before making any purchases.