Posted by : Amanda Stein Wednesday, April 17, 2013

When running a business there’s plenty that goes on behind the scenes, and keeping your accounts in order is a big part of any business’ process. Keeping an eye on what’s coming in and what’s going out is vital when running a business and online accounting tools make this job a lot easier. Working within a cloud you can access your accounts wherever you are allowing you to process invoices, check tax information, and much more.

We’ve listed the top five online accounting tools that will help you stay organised and keep the IRS off your back.

The One for Simplicity

Outright is not the best pick for large or growing businesses, but for sole proprietors it’s perfect! The software offers basic accounting drilled down to four separate and easy-to-use pages; Money In, Money Out, Reports, and Taxes, along with a basic overview page. To use, all you need to do is begin inputting information; what you are being paid and what you are spending, as well as linking your bank and credit card and you will quickly gain a simple and accurate view of your business finances. Using this information makes paying your taxes a whole lot easier

The One for Web-Savvy Businesses

FreshBooks is definitely one of the most popular online accounting tools, and there has been a long-standing competition between this software and QuickBooks. FreshBooks offers a simple view of all of your accounts and is designed to be easy-to-use for businesses yet still gather enough information to keep your accountant happy.

The software offers a legible dashboard and allows the user to track expenses and income, as well as create and send out invoices and keep up to date with client and product service records. FreshBooks also helps to create tax reports for your account and work out your sales tax.

As well as web-based features that allow for collaboration, including team management, FreshBooks allows for integration with other work tools, like Basecamp.

The One for Accounting-Savvy Businesses
QuickBooks, the brainchild of Intuit, was always going to be good. A company that some say invented the small-business accounting tool and still holds 90% of the market should produce an effective online accounting tool, and they do! Intuit offers a range of different QuickBooks options and their ’Simple Start’ boasts simple, tab-based web pages and functions including invoice management and check printing, as well as some impressive extras like tax tracking and customized account charts. Although it is aimed at single-users, you do have the option to let your accountant take a look at information.

QuickBooks is ideal for a growing business with enough cash to pay for a superior offering. The only downside to this software is that, to use it to its full potential, you do need to have a fair amount of knowledge in the world of accounting.

The One for Invoicing

Another one from Intuit (we told you they were an accounting tool powerhouse!), the Intuit Billing Manager is ideal for small businesses that don’t require complex account management.

A simple site designed to make billing easier and faster for your business, the Billing Manager allows you to create and import contacts, create invoices using that data along with your products and services. You can then easily record and send out those invoices as well as accept and acknowledge your income, and the best part? It’s free!

Intuit have said that each month 22 million small businesses are waiting for $1,500 each in overdue payments; are you one of those businesses? The Billing Manager can help you to take control of your business’ finances.

The One that’s Free

We all love a freebie and business owners are no exception. If your business is in its early stages and you haven’t yet begun to make your millions then an online accounting tool that comes for free will be a big help.

Wave Accounting, although not as advanced as its competitors, offers the option to download transactions as well as a starter set of accounting tools, and allows you to build customer lists, create, send out, and track invoices. As well as all of that you can also give access to external users, your accountant for example.

The One for Payroll

Struggling with payroll? As your business gets larger you may start to take on staff at your small business and payroll can be a daunting task. Designed for businesses with 15 employees or fewer, Sage One Payroll allows small businesses to effectively manage their payroll using a simple interface.

There are tabs that show summaries of payroll activities, employee details, year-end reports, and overviews of pay runs, PLUS it’s iOS compatible and can be used from an iPhone or iPad. Snazzy!

How do you currently track the accounts for your small business? Take your business finances online to make life a little easier.

About the Author: Ryan Burch a proud member of the team at High Speed Training Ltd, one of Europe’s leading e-learning providers. We actually formed in 2007 as a specialist consultancy in food hygiene but have since grown our offering considerably and now have over 42 high quality online learning products, created in partnership with a specialist company in each relevant field. You can view the full range of career courses here.

Google Contributor

Follow by Email

Popular Post

A huge thank you to our readers! You've helped us reach

Copyright © Indiesilver Marketing Blog