In this age of automation, you need to be aware of the value that online accounting software can add to your business. Regardless of the software you choose, it will give you many features and benefits that you can’t get with the old offshore accounting and bookkeeping techniques.
There are many bookkeeping and accounting software available online such as Intuit Quickbooks, Xero, Pabbly, Wave, Zoho Books, OnPay, AccountEdge Pro, NetSuite ERP, and many others.
After learning about such an extensive list of online accounting and bookkeeping software, you may be feeling confused. Correct? So, to help you find the resource that will work best for you, I’ve discussed the two most popular software used by small businesses: Intuit Quickbooks and Xero in this article. Let us begin.
Small Business’s Most Popular Accounting and Bookkeeping Software: Intuit Quickbooks and Xero
1. Intuit Quick Books
Quickbooks currently rules the accounting and bookkeeping industry, and for good reason! In addition to the unique set of capabilities, other major attractions include receipt capture and 24/7 chat support.
Does your business work with PayPal, Shopify, and Square? If so, Quickbooks easily integrates with all of these platforms too! All of this makes the software a crowd-pleasing small business accounting tool. It has a total of five plans to suit everyone’s requirements and budgets.
These are: Self-Employed, Simple Start, Basic, Extra, and Advanced.
Note: You can also try Quickbooks completely free to see if it’s right for you. (In 99.9% of the cases, this works for you and the entire business!)
All of the above plans allow you to:
● keep track of income and expenses,
● send invoices and receive payments,
● execution of reports,
● send quotes,
● Follow-up of sales, taxes and
● Capture and organize receipts.
More advanced plans allow you to track inventory, track time, and even run full-service payroll.
For accounting, Quickbooks provides you with its own Quickbooks Live software.
2. Zero | Accounting Software
Xero is another popular name that has been heard a lot in the world of accounting and bookkeeping. It provides you with the following features.
● Track and pay invoices on time and get a clear overview of accounts payable and cash flow.
● Record costs, submit claims, approve and pay, and view expenses.
● Connect your bank to Xero and set up bank sources.
● Accept payments online and get paid twice as fast by connecting to Stripe, GoCardless and more.
● View, invoice, and receive payments for jobs, as well as track project time, costs, and profitability within Xero.
And much more! | Accounting Software
From a pricing standpoint, Xero currently has three plans. are here:
● AUD 27 per month: good for sole traders, start-ups and freelancers.
● AUD 54 per month: good for small growing businesses.
● AUD 70 per month – Good for established businesses of all sizes.
Just like Quickbooks, you can use Xero for free for the first 30 days.
While Quickbooks and Xero are the most widely used and trusted accounting and bookkeeping programs on the market, you can try other programs to see the business capabilities and other features of your business.