Modern accounting software are entirely cloud-based and unite several features in one solution: invoicing, creating estimates, projects, tracking your work time and that of your employees, managing payroll, keeping an up-to-date inventory, see your bank transactions in real time, and get auto-generated business reports. But there is more: integration with third-party apps, availability anytime, from anywhere, and cost-friendly pricing. And no matter which accounting solution you will choose in the end, you can say goodbye to endless frustration and start boosting your incomes.
Features
There are plenty of features in decent online accounting software; here are some of them:
Invoicing
To create a customized invoice you just have to pick your client, provide some necessary data and you can send your invoices to your customer. Furthermore, you can turn estimates accepted by your clients into invoices, create recurring and/or multi-currency ones, and even allow instant online payments for your clients.
Expenses
Once you manually enter your expenses, or even attach receipts thereto captured with the camera of your mobile device, the software can be taught to automatically categorize expenses from then on. Moreover, your expenses are displayed in the dashboard so you will always know how much money you have spent so far. Want some expenses to be reimbursed by a client? Attach them to an invoice and your money will arrive soon.
Projects and time tracking
Reports
Do not worry about those pesky business reports anymore: they are automatically generated from your incomes and expenses. Furthermore, if you give (limited) access to your accountant you two can work simultaneously: you managing your business and him/her managing your books.
Cashflow
If you want to know the current status of your business, such as your incomes and expenses, your banking etc., just take a quick glance at the continuously updated dashboard and you will see all necessary data displayed there.
Payroll
This feature serves various purposes: it lets your co-workers record their own work time, create timesheets therefrom, allows you to easily pay your employees and even prepares and prints your 1099s.
Integrating other software and services
An online accounting solution is like a virtual assistant; always ready to be at your service. But what if we say you can make it even better? Due to the fact that most accounting companies support and offer an API, your new software can integrate with hundreds of different third-party applications. You don’t want to leave behind software you like but still want to use an accounting solution? Well, you can hit two birds with one stone: just allow the accounting software to import data from your existing one and you don’t have to ever switch between solutions anymore.
There is plenty of software ready to be integrated into your accounting solution: for instance PayPal, which not only could act as a bank account, meaning that all transactions are displayed in the dashboard, but if the fast payment option is turned on, your customers can pay you with this e-wallet as well. Other software includes Capsule CRM which manages your customers, Gusto which is ideal for you if your accounting solution lacks the payroll feature, Fundbox which helps you get advance on outstanding invoices, Receipt Bank, an expense reporting tools and even eBay, Amazon and Google Apps.
Online accounting solutions recommended for you
There are only two things to keep in mind when picking your new accounting solution: the choice must be yours and trust your instincts. Regardless of your choice, allow us to recommend you two long-time competitors for consideration: QuickBooks Online and Sage One.
Zoltán G.
Sander D.
