The field of accounting is a constantly changing one. Emerging types of accounting include green accounting, and forensic accounting. Assuming that you own a small business, and your knowledge of accounting is purely terrible, there are online accounting tools you may consider. After all, you cannot do it all alone. If possible, core accounting features of online tools should include double entry accounting, payments, invoicing, vendor, inventory and customer management, budgeting, banking, Payroll and Point-of-sale (POS). You may access most of the online accounting tools as a subscription model known as Software-as-a-service (SaaS) or from the cloud. They help you to keep track of different tax obligations, simplify the record-keeping process, and to measure your business’ financial wellbeing. Keep listening.
- Xero – ( www.xero.com )
By using the Xero accounting tool, you could pack quite a hefty punch. Why would you choose Xero? First things first, it’s fairly easy to set up Xero, and to use it. Xero is cloud-based. That means you will no longer get worked up about backing up your important work. Closely tied to this, is the fact that you may use Xero from Android or Apple devices, in just about any place. This tool offers a 2-step authentication process make sure that your data is safe. Even more interesting is the fact that Xero integrates well with over 700 third party applications, and you can collaborate with your colleagues, team players, and your accountant. One more feature that will definitely blow your mind off is the fact that Xero is a multi-currency e-commerce platform. This means you can conduct your business in the global marketplace scale. Pricing plans are set as starter, standard and premium plans. You may visit www.xero.com to select the most ideal plan that could suit your business.
- Preciseby – ( www.preciseby.com ) 30 Day Free Trial
One of the top-level online accounting tools to be reckoned with is Preciseby. If invoicing, creating estimates and recording expenses bores you to the core, then Preciseby is definitely for you. With 30 Free Days to try it, you have enough time to learn and test the platform in real life situations. It doesn’t matter if you are a freelancer, sole entrepreneur or simply, a contractor. You probably already know that the most important and pressing accounting need for most companies is invoicing. You will not need to lose sleep while tracking, creating, and sending estimates, or creating income and expenses reports for your tax obligations. Preciseby’s is simple and easy-to-use. You can navigate the platform quite effortlessly. If you visit www.preciseby.com, you will have the liberty of choosing a plan that best suits your business. Pricing for Preciseby users is set at basic, standard, and premium plans. Their annual plans include the basic plan ($115), the standard plan ($279), and the premium plan ($469).
- FreshBooks – ( www.freshbooks.com )
FreshBooks is at the top-tier of the excellent online accounting tools. With FreshBooks, you are sure to get solid accounting services, quality, customizable, and advanced invoicing. What you will be able to do is to send, print, receive, and effect payment on invoices. The platform is cloud-based, has an exceptionally easy-to-use interface, and it has reasonable pricing plans. FreshBooks also provides impressive time tracking, interesting automatic reminders and alerts, to gently notify your clients of due or overdue bills.
This online tool also caters for your bookkeeping needs as well, even if your accounting skills are a little rusty or non-existent. You get to run your financial reports. It provides functions such as general ledger, and the accounts aging, trial balance, journal entry, as well as profit and loss portal. It’s incredible knowing that your accountant will have access to your selected, specific features, and reports from your FreshBooks account. The Fascinating thing about this online tool is that you may choose the single or team version that suits your colleagues and contractors. Another brilliant thing about this online platform is the retainer functionality, which makes it perfect for Accountants, Attorneys, and other professionals that charge a retainer fee to their clients. You will find affordable pricing plans from www.freshbooks.com. For example, their monthly plans include the Lite plans, Plus plans, Premium plans and the customizable select plans.
- Sage 50cloud Accounting – ( www.sage.com )
Sage 50cloud Accounting is a strong, and a leading brand that offers tremendous value for your money in exchange for great accounting and invoicing tasks. This online accounting software has some insanely great features. Its cloud-based, so you will be spared the luxury of worrying about storage and backup. What will definitely intrigue you, is the fact that you can set up this online tool to be accessed by various users. Sage accounting offers enhanced reporting, expense tracking, and thrilling vendor and sales management capabilities.
Other supreme benefits include sending and accepting electronic online payments, payroll processing options, automating purchase orders, bank feeds, payments, invoices, account reconciliation, and inventory management system. It also provides specialized reporting, work and project costing, and integration with multiple point-of-sale (POS) applications, including Microsoft 365 integration, when you need to collaborate with your team members, from any location. As you may know from www.sage.com, Sage 50cloud Accounting offers three pricing plans. They are Pro Accounting, Premium Accounting, and Quantum Accounting.
- Zoho Books – ( www.zohobooks.com )
Another online tool that makes it to our top 5 online accounting tools is Zoho books. It is a simple accounting online platform that provides basic as well as advanced features. You can create and send invoices for free, manage and reconcile accounts, accept and effect payments from the impressive Apple, Android, and Windows apps, while on the move. Zoho Books has a smooth and modern interface, automated workflows and processes, which will save you a lot of time compared to inserting the data manually. We love their good features like time tracking, sales and expenses, and project management. Zoho Books gives you the leeway to tailor-make invoices.