With such software at your side, you can easily manage your accounting from invoicing, receipt processing and time tracking to managing projects, reconciling bank transactions, and even accessing everything on the go from your mobile device. With online accounting solutions all you have to do is set the program up, enter the necessary data, and sit back and focus on your work, while the software does most of the dirty work for you in a faster, cheaper, more automated fashion.
Home business-friendly software
Regardless of the online accounting software you choose, you will be able to perform the most necessary accounting tasks with relative ease. Such a feature is invoicing, with which you can create invoices in a jiffy, send them on a recurring basis, use a different currency/tax, and even turn on online payment options so your clients can pay you immediately with credit/debit card or PayPal. Speaking of payments, whenever there is a change in your bank account, you will see it right away thanks to the automated bank reconciliation option. You can track your expenses by either manually entering them into your accounting or by simply snapping a picture of receipts with your phone’s camera and let the software process everything.
Many online accounting solutions have built-in time trackers, which, if they don’t meet your needs, can be substituted with a third-party solution. In fact, the greatest strength of these accounting solutions is that they work with various other programs, thus you can combine the power of all your preferred solutions. And last but not least, you can share your books with your accountant anytime for further modifications or verification.
Accounting on the go
Although mobile availability is a feature in itself, it deserves its extra spotlight attention for very good reasons. First of all, the top accounting solutions have their own Android or iOS app versions, which either contain the most essential features of the full-fledged desktop solution or allows the use of all features of its “big brother” without limitations. Second, all functions adapted to mobile devices work like a charm: invoices can be created the same way like you would do from your computer, and you can even track your time outside your “office”. The app also notifies you of any changes in your bank account balance, so you can see when you are paid and when you paid your debts while on the go. Like we said earlier, you can take snapshots of receipts with your phone’s camera and attach said pictures to your expenses like a pro.
However, keep in mind that mobile versions are only complementary, meaning that most of the work must be done from the desktop application.
Recommended home business accounting software
Although most online accounting solutions, such as the following three we’d like to recommend, are intended for SMBs, they have plenty of features which can be used by home businesses as well.
Zoltán G.
Sander D.
