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What is the best accounting software for small business?

Posted on 17 January 2010

I am sure you have read other blogs in your search for solutions.  I’ve read some too.  It seems what is missing in clear advice.

Good news! You can get an opinion right here. There is no shortage of opinions on this blog. We even have experience to back it up.  Read more to get some serious advice on choosing your small business accounting software.

Why use accounting software instead of paper system or excel?

Tracing your monthly transactions is only part of accounting.  You need much more information.  Software will show you:

• Year end results that balance!
• Analyze cost and profit information.
• Comparisons to last year’s performance.
• Many, many more reports that help you increase your profit.

Ultimately, the information you track in excel or on paper may need to be entered into a software package.  It will be entered by you or your accountant.  If your accountant does it, your cost goes up, almost doubling the cost to produce a year-end financial statement. If you do it your cost goes down, Yaay!

What is the best Accounting Software to use?

QuickBooks

1. It’s convenient and easy to use, especially if you are not an accountant.
2. Requires little guidance to get going on the software.
3. There is lots of help out there to make it work for you.

Online resources you can access for QuickBooks:

http://community.intuit.com/quickbooks

http://forums.quickbooksusers.com/

http://quickbooksusers.com/

Don’t forget your most important resource, your accountant!  It’s in your accountant’s best interest to help you succeed with software so you can capitalize on your most powerful resource.

The two most popular accounting software programs for small business are…the envelope please!

QuickBooks and Simply Accounting are the most popular software’s we know. Most small business accountants that we know are also using one of these.

There are others for you to choose from but before you decide, talk to your accountant and find out what he or she uses.  Using the same software as your accountant will save you some money!

If you use different software than your accountant, he or she will have to try and import your data or redo the entries. This can cost you more money.

The most important reason for using accounting software for you small business is……..

When you are being audited, not if your being audited,…..your detailed record keeping will save you time and money.

If you have to make corrections or changes, the accounting software you are using will make the changes to all affected areas.  Excel or a paper system will not make global changes to all of the statement(s) you produce.

To hear an audio version of this blog, click this youtube link:

http://www.youtube.com/watch?v=XHG1kvqU8aE

Check it out! Vince and Mark speak straight to the point on the best small business software.

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