Small Business Bookkeeping Software [14 Main Features]

Main features provided by the bookkeeping software for small business.

Before computerization, bookkeepers’ duties composed of recording financial transactions in corresponding journals such as purchases, sales, receipts, payments, and others, and after those posting amounts to the determined accounts in the general ledger. After posting amounts had been posted into ledgers, accountants made assembly entries and prepared financial statements and other financial reports. Since computers and computer programs are widely used by companies and organizations to manage and control their business activities, the distinctions between bookkeeping and accounting have become blurred. Using accounting software, even bookkeeping software for small businesses enables automatically updating accounts in the general ledger. It might look like all bookkeeping software for small businesses offers the same standard features such as accounts receivable, accounts payable, billing, invoicing, and others. In reality, it is not so. With the main features, bookkeeping software systems provide various other attributes that can cover a broad range of functionalities. Some of the features are indispensable for bookkeepers, some – can be marginally useful, and, finally, the rest of them are nothing more than marketing tricks.

Before selecting the bookkeeping software system, any small business owner should research which offered solutions the best meets his business needs.

Main features and characteristics of the bookkeeping software for small businesses that benefit any company:

 Automatic updates. Automatic updates. Internet connectivity. Internet connectivity.
Monitoring invoices Monitoring invoices and bills. Automatic payments Automatic payments for recurring bills.
credit card Linking credit cards to bank accounts. Sending and receiving digital documents. Sending and receiving digital documents.
financial transfers. Handle electronic financial transfers. graphic tools Graphic tools.
statement Automatically producing the balance sheet, profit, and loss statement. receipts Easily customization of invoices, sales receipts, and other documents.
history Complete history. robust reporting Robust reporting.
security Built-in security. integration Integration with third-party software.

So, using computers and bookkeeping software solutions gives bookkeeping new opportunities. Therefore, it is not surprising that small businesses use specially developed for bookkeeping software to manage and control their financial operations. Desktop and mobile software allow eliminating many of the bookkeeping tasks and errors that can occur when amounts are manually entered, calculated, or rewritten. Moreover, bookkeeping software helps to increases the effectiveness of bookkeepers, reduce business expenses, and, as a result, increase business revenue.