Every company, big or small, needs to keep track of where their money went, and where it’s going. While spreadsheets may do the job for keeping tabs on a few transactions in your basic accounts, your small business is eventually going to need a proper solution.
This means that one program can keep tabs on inventory management, invoicing, payroll and customer relations management. The end result saves you time and money since you won’t have to purchase and task through different programs.
Luckily, there are ranges of accounting software solutions available for small business that provide flexibility for your company. Small business owner and IT expert Susan Ward offers a few suggestions on the best of the bunch.
Quickbooks is one of the most well-known accounting programs, and fits nicely into the accounting needs of small businesses.
The program comes in a variety of configurations, depending on how big your business is. Intuit Quickbooks’ basic, online, pro and premier editions can be matched with your company’s specific need.
The 2013 professional version of Quickbooks offers features such as the company snapshot, customizable vendor, customer and employee centres as well as the capability to quickly find any report, account or invoice with a just a few taps of the keyboard in its Quickbooks search box.
Sage 50 Accounting
Formerly called Simply Accounting, Sage 50 Accounting is a tried-and-tested accounting option for small businesses. For Canadian firms, Sage Accounting has all the options you need: calculating and paying GST or HST and PST or QST, and also preparing government tax return T-4s, ROEs or RL-1 through physical filing or efile. The software comes in English or French, letting you swap languages on the fly.
Though there is a First Step version available, the Pro edition is preferred as it allows you access to features such as creating sales orders and quotes and is usable with multiple currencies.
AccountEdge Accounting Software
This software used to be named MYOB Accounting Plus, and can be thought of as the Swiss army knife of accounting solutions for small businesses. That means AccountEdge offers a high level of flexibility. Its inventory command centre grants you control over inventory using multiple pricing levels, negative inventory and also kit building. And when it comes to time billing, AccountEdge offers multiple billing rates for easily tracked chargeable and non-chargeable time.
What’s more, AccountEdge has more than 200 financial reports that can be tailor to your needs, and is compatible with online store application Enstore. It even has a mobile app for iPhones and iPad devices.
Connected Core Accounting Software
One of the big features of this small business accounting solution is that it works across platforms. That means employees using either Mac or PC computers can simultaneously work on a data file. What’s more, that data file can be hosted on either one of the computers.
Connected Core also hooks into Microsoft Office, and can be easily customized. And for tax purposes, it offers proper GST/HST accounting. If you need advanced features such as inventory management or job costing then Connected Core may not be the right option, but it’s a nice fit for firms that are quickly outgrowing entry level accounting programs.
Sage BusinessVision Accounting
Sage BusinessVision Accounting lets you keep track of both your inventory and sales. It comes in five different editions, which are all easily customizable and scalable through its modular design. With its small business edition, Sage BusinessVision makes it easy to meeting accounting and management needs for your business.
In addition, it has an e-BusinessVision add-on that lets you fuse an online selling system into your accounting software. This makes it perfect for wholesale, light manufacturing and retail companies. Though it has a higher price than other accounting solutions, remember that it meets more needs than a basic accounting suite.
Microsoft Dynamics GP
Microsoft Dynamics GP is, like Sage BusinessVision, more than just a mere accounting program but rather a robust business management solution. It offers financial management features, supply chain management, business reporting and intelligence, payroll management and human resources as well as sales, service and project management. It also is tightly integrated with other Microsoft software, including Office, and lets you store data on site or in the cloud. Though prices depend on what package you choose, this software can be costly if you include many of its high-level features.
Use accounting software for your small business incorporation. The programs give you immediate entries that can be recorded when each transaction is finished. This keeps your accounting data up to date, offering a window on the financial health of your business incorporation [http://www.holdcorp.ca/Incorporate/incorporate.html].