Small companies can benefit from a vast variety of accounting software. They include payroll, accounting project management, and time tracking tools.
Using a program that integrates with other business software can save your time as you don’t need to transfer data manually. This is crucial for freelancers, who need to keep track of their time and bill clients.
A reliable accounting software can also help you provide timely and accurate financial information to your team. If, for example, your finance director requires a report on cashflow within two hours, then your system should include the ability to report that allows him or her to generate the report with a few mouse clicks.
The best accounting software for your company should have a number of essential features, such as excellent accounting and invoicing capabilities, simple mobile apps and workflow rules. The right software should also integrate with other systems you use like payroll and point-of-sale (POS) software.
We also like that many accounting software programs give free trials so you can check out how they function for your business. Some companies, such as Xero provide free like this access to their accountants for their small-business accounting software.
Xero provides a wide array of features for a reasonable cost. It lets you send invoices that are custom-designed, reconcile your bank entries and record receipts. But we are most impressed with the collaboration capabilities. Unlike nearly every other accounting software, all of the plans offered by Xero include unlimited users, so you can delegate tasks to other team members without paying extra for them.