Every business, small or large, needs financial software to keep up with income and expenses. Having accounting software in place is a safe way to keep everything documented, which helps accountants with discerning financial goals for the firm. Along with keeping daily logs, financial software generates instant reports and financial forecasts. To help you choose the best, here is a guide on the top four financial software for businesses of all sizes.
Starting with the biggest name in the industry, Quicken enables accountants to create a budget, manage spending, assess and pay bills, and track investments and debts. Quicken offers features like excel exporting, bill paying, assets tracking, and accurate calculation of the net worth. These features not only take care of the daily calculations for business but also handle personal expenses. It also helps manage property-related functions like collecting rental payments from tenants. As for their products, they feature five packages, including Starter, Deluxe, Premier, Home & Business, and Simplifi by Quicken. The software starts at $35.99 per year, and Quicken is compatible with Windows, macOS, iOS, and Android.
This is cloud-based accounting software that is extremely easy to use for people who are new to business accounting and finances. This is a great option for the overall accounting experience, as it’s convenient to use, is replete with impressive features, and is reasonably priced. FreshBooks accounting features allow business owners to pay bills in multiple currencies. Plus, it offers multiple languages, automatic tax calculations for sales tax, enables tax integrations, creates recurring invoices with customizable options, manages bank accounts by allowing deposits, recurring payments, and auto bill generation. Coming to the pricing, their subscription to the Lite version starts at $15 a month for self-employed businesses with a cap of five billable clients and goes up to $50 a month for unlimited billable clients.
Oracle Financials Cloud
This cloud-based ERP system offers optimized processes that help support and manage the finances of global-sized companies. The comprehensive suite helps firms close their books faster, which involves robust features like automation streamlines and end-to-end accounting without user intervention, real-time monitoring and reports, and graphical representation of finances, among others. Apart from these features, the software processes supplier invoices, control customer billing and manage revenue, helps reduce bad debt, and manages assets and leases, among other optimizing processes. Ideal for enterprises, Oracle Financials Cloud software, starts at a $600 fee per month with a minimum user capacity of 10.
Sage Business Cloud Accounting
Formerly known as Sage One, this online accounting software is specifically made to cater to small businesses. The software is simplified for people with minimal or no accounting experience and allows multiple users on one subscription. The impressive features of Sage Cloud Accounting include managing finances and cash flow, making and collecting payments, creating and sending invoices, managing payroll, enabling tax compliance tools, inventory control, forecasting cash flow, and human resources management and estimation. The subscription starts as low as $10 a month for entry-level accounting and cash flow. Their upgraded version costs $25 a month.
The ideal thing to do before committing to financial software would be to list down your accounting requirement and carefully vet the features offered by different software. Sign up for software that is helpful for your business type and size, convenience and gives you value for money. Bookmark this article for the future, or share it with your business pals.