Accounting Software We Recommend
You know bookkeeping and accounting are important for your business but my gosh - where to begin?! When you do your research there can be an overwhelming amount of information available and it can have you feel like saying, ‘just tell me what to do!’
This article is intended to give you the first couple of steps in establishing your accounting processes, starting with software.
There are a ton of applications and tools out there that make putting your accounting processes together significantly simpler. The first challenge is to pick the right ones for your business.
In this article, we are going to recommend some of our favorite accounting software applications and how they can help your business.
Quickbooks Online
There are plenty of bookkeeping software programs out there but Quickbooks Online is our favorite. Not only is it the most popular but it has all the features you need to run an efficient accounting department no matter your industry or the size of your business. In addition, if you do not like certain tools within Quickbooks Online, they provide plenty of integrations that make it easy to use Quickbooks and your favorite app.
What about the other bookkeeping applications? There are other options like Xero and Freshbooks that are popular among small businesses but it is always best to talk with your accountant about what is best.
Ultimately we choose to use Quickbooks at SV Bookkeeping because of its all-in-one features, popularity amongst business owners, and ease of use for our clients. There are times we may have a client come to us wanting to use a different payroll or cash flow app, which is great! Because Quickbooks Online does easily integrate with most popular accounting apps.
Gusto
Gusto is a popular payroll application that makes it easy for business owners to pay their employees and contractors. Not only does it have an excellent user interface for all parties but you will find they have all the necessary features and then some to run an efficient payroll department.
Our favorite part? Gusto integrates effortlessly with Quickbooks Online. This means that when my Gusto and Quickbooks Online accounts sync there is less work on our end to make sure everything is accurately transferring over.
In addition to all those awesome features, Gusto provides additional HR support, tax reminders, and compliance guidelines. This makes it perfect for a new business owner who wants to ensure they do not forget any important documents as they continue to run their business.
Bill.com
Bill.com is one of the most popular integrations with Quickbooks Online due to its advanced look at accounts receivable and accounts payable processes. If you are handling a high volume of bills and invoices, Bill.com provides you with all the tools you need to quickly assess things like late payments, upcoming bills, and client profiles.
One of the most essential steps in establishing an efficient cash flow process is ensuring you are collecting invoices on time and issuing payments within a reasonable window. An app like bill.com can do just that!
Expensify
Depending on the nature of your business you may have a messy process for tracking and storing receipts. Apps like Expensify make the process significantly easier by allowing you to take snapshots, store, and view reports of your expense receipts.
Apps like this can be useful for therapists making occasional purchases for the office when they are out running errands.
Like all the applications mentioned, Expensify also integrates with QuickBooks. Their ability to attach receipts to transactions helps with ensuring you have all the appropriate documentation for whatever questions arise later on.
Amazon Business Purchases
This is newer integration with Quickbooks but an incredibly helpful one! So many of us use Amazon to furnish our business or make office supply purchases, having an app that easily integrates can make the reconciling process much easier.
For starters, you are able to sync your purchases so they all show up in Quickbooks. Then when documents for your tax accountant or auditor are needed, you can quickly refer to your Amazon Business integration to ensure all appropriate purchase orders are available.
The task of tracking down receipts is made infinitely easier and saves business owners a ton of time!
There are tons of great accounting applications out there - which is great! If you do not like one application, chances are there are multiple others that can fit your needs. These are just a few of our favorites. We highly recommend starting with Quickbooks Online since it can be a pillar for your other applications as you expand your operations.
If you are interested in learning more about accounting applications and how to make sure the right one is integrated into your business, send us a message.
