Best Simple Accounting Software for Small Businesses

What makes accounting software easy

One of the many pros of online accounting is real-time data recording: you enter data into the cloud and it automatically becomes available for later use. In fact, you only have to input data once, and the software takes care of it without any human interference.

Multi-currency, recurring/one-time invoices can be created in mere seconds from scratch, or from quotes/estimates you created earlier, and can be paid instantly by the client through an online payment system. All necessary data can be stored in their respective places (contact lists, inventory etc.), and by connecting your bank to the visual dashboard you can immediately see your cashflow and you can simply reconcile your bank transactions. With the aid of payroll you can manage the timesheet of your employees and pay them accordingly.

Most features can be accessed from iOS/Android apps, but if you need something else or you just don’t want to leave your old software, you can opt for the countless integration options and merge your legacy accounting solution with the new one to create a true powerhouse.

Best easy to use accounting software

Most online accounting solutions are easy to use, but when it comes to user-friendliness and versatility of features, Xero or FreshBooks might be your best choice.

DIY small business accounting

Online accounting solutions are indeed intended for making the accounting process completely hassle-free, but to use them in an effective manner, you need to take into consideration various factors and learn a bit of accounting yourself. It’s a good start to think about what features you will need and choose a solution accordingly. Then you have to set up schedules: you have to decide which tasks should be done on a daily basis and which one can be done at the beginning/end of the month.

Once the above factors are settled, accounting will become much easier for you. However, if you still think you need some help with your books, you have plenty of ways to learn the basics. Almost all accounting solution providers have detailed knowledge bases explaining the software’s features and their related accounting practices, but you can also watch tutorial videos or attend webinars. Furthermore, you can always contact the customer support of the chosen accounting solution or turn to certified bookkeepers who can help you with everything, including the use of software.

Automation for simplicity

Although cloud accounting programs sport lots of useful features, sometimes you will need something that is either lacking from the software or you have a separate solution with the more advanced version of the desired feature. This is where integrating other solutions enters into the picture: since accounting solutions offer and support an API, you can integrate various third-party apps into your system, creating the ultimate powerhouse for almost full-on automation.

A feature that is usually missing from accounting software is payroll, but thanks to the seamless cooperation between companies like Gusto and accounting solution providers, you can easily calculate the salary of your employees, pay them instantly and have these records stored in your online bookkeeping. You can also integrate various time tracking programs to be able to bill by the hour, and expense management tools to turn receipts into invoices and record them in your system. And we haven’t even mentioned that payment processors like PayPal, ecommerce systems like Shopify, and CRMs like Capsule CRM can also join forces with your accounting software.