If you’re entering expenses and income regularly and categorizing transactions, you can pull up an accurate report at any time. An intuitive program that gives you access to a simple dashboard that displays charts to provide an overview of the current state of your company’s finances, automatic features and easy-to-use mobile apps are best. Neat’s built-in document management with unlimited monthly storage makes it an incredibly useful tool for businesses that accumulate a lot of expenses and receipts each month.
I could also access filters on reports by pushing the down arrow at the top right-hand corner of each report. Filters allowed me to sort reports by time period, including a custom date range. All reporting graphs were color-coded with a key for each data point. Once you’ve sent your invoice, you can then track invoices to ensure they’re paid, run reports that show the age of each outstanding invoice and apply invoice payments to specified transactions. On the “projects” page, I clicked on “create new” and was given the option to create a flat-rate or hourly project. After clicking the “hourly project” option, I was taken to a new project template and prompted to enter a client, total hours worked, a project name, a project end date and the service rendered.
Plans to suit your business
Cloud technology allows business processes to be streamlined and tailored to company growth. Even a freelancer or solopreneur corporate tax definition will benefit from accounting analytics that capture the financial health of their business. Cloud accounting software should include multiple reporting templates to choose from and automatically populate whichever one you pick with data pulled from other areas of the software. Accounting software were once only available for download for on-premises devices.
See how QuickBooks cloud accounting can work for your small business
You can filter transactions, match receipts with expenses on the go, customize invoices, make payments and view trends and insights about your business. Plus, you can get automatic accounting reports, receive guided workflows and set it up in five minutes. Businesses seeking the difference between “bookkeeper” and “accountant” a highly adaptable accounting solution that offers a precise and detailed overview of their finances should consider ZarMoney. In addition, businesses that are likely to increase their accounting software user account in time should consider ZarMoney’s Small Business and Enterprise plans.
- As I tested the software, it was clear that the platform was designed primarily for the purpose of storing financial documents.
- It offers two distinct operational modes—“Do-It-For-Me” and “I-Do-It-Myself”—allowing businesses to choose the level of control they wish to exert.
- The flexibility afforded by its general ledger and ability to handle complex revenue recognition scenarios has served clients well across many different industries.
- FreshBooks offers four plans starting with the Lite plan at $19 per month ($9.50 per month during the current promotion).
This accounting software has a unique feature of data line itemization, which allows users to dissect receipts in detail, ensuring every transaction is categorized and accounted for. With the capability to store unlimited files and data capture verified by humans, accuracy and organization are prioritized. This means that self-employed professionals can focus more on their core business activities and spend less time on tedious tasks such as document and financial management. We prioritized software that was either low-cost or had an affordable plan in a series of pricing plans.
Wave’s built-in dashboard makes it easy to quickly access and understand your business’s financial information. Another outstanding feature is the fact an unlimited number of users can be added. With Zoho, users can send customized invoices, connect to payment gateways, track expenses, create a variety of business reports and calculate taxes. Xero is an affordable cloud-based accounting software system that is highly rated among small businesses. Its simple solution for tracking income and expenses makes it easy to use for those without accounting skills. Top features for every plan include the ability to create and send invoices, track time and project profitability, claim expenses, bulk reconcile transactions and accept multiple currencies.
See more of what Xero can do
Or, if you have a contract construction business or are a wholesaler, look for software that includes inventory management or mileage tracking and invoicing tools, respectively. This list was highly customizable, a theme I would experience while testing different features on the platform. For example, I could immediately use the search bar across the top of the screen to search my documents by keyword.
Essential Features
If you’re on a budget, you can reduce costs by opting for a less expensive plan, choosing à la carte options or only paying for the features you need. At the top right-hand corner of the screen, a grid-like button with a hover-over label that read “add widget” sat. When I clicked on it, I was presented with a simple form to toggle on and off the widgets I wanted on the dashboard. By clicking “edit dashboard,” you can only remove a couple of reports but cannot add any new ones. Terms, conditions, pricing, when is the best time to incorporate your business special features, and service and support options subject to change without notice. In the cloud, you have access to your business data any where with an internet connection, on any device.
“At its core, NetSuite offers accounting functionality that is extremely robust and powerful. The flexibility afforded by its general ledger and ability to handle complex revenue recognition scenarios has served clients well across many different industries. Notable features NetSuite’s accounting software offers include automations, domestic and global tax management tools, a comprehensive payment management solution and NetSuite product integrations. The software also offers tools for businesses requiring financial compliance such as GAAP, ASC 606 and SOX. These insights include profitability ratios, cash positions, liabilities, fixed assets and taxes. NetSuite’s pricing is custom, so you’ll need to speak with a sales team member for a quote.