The Best Accounting Software for Small Business Provides Features Enabling Successful Company's  Management

Best Accounting Software for Small Business

Today, computerized accounting systems are widely used by not only the large companies but by the small ones too as helps to save small business owners hours of the bookkeeping time. Therefore, it is not surprising that there is an overabundance of offers on the market that are made by different software providers and individual developers. Sometimes, it is not easy to make a decision about which from them is the best accounting software for small businesses.

As it has been said before, bookkeeping and accounting computerized systems save hours of the bookkeepers and accountants' work time compared to manual handling the accounting books. But, it is not only one benefit of using the accounting software for small businesses. Accounting software also reduces, and even eliminates, errors and redundant data entry.

It is also possible that your company needs an industry-specific accounting software solution. In this case, you should think about whether you need to take the accounting system with the specific features to meet your business necessaries and requirements. What is the difference between the general accounting software system and industry-specific software solution?

If you are an owner of the small business, most likely, you need bookkeeping software with the easy-to-use interface and features which most of the small businesses need:

  • inventory management – for managing and controlling companies inventory,
  • sales tracking – for managing and controlling sales performing by the company, 
  • purchase tracking – for managing and controlling the company’s purchases, 
  • contact management – for managing customers and vendors contacts, 
  • expense tracking – for managing and controlling the company’s business expenses, 
  • accounting reports – for monitoring debit and credit business bank accounts, 
  • invoicing – for creating, sending and tracking invoices, 
  • payroll – for managing the employees' payroll, 
  • billing – for controlling the billing terms and payments, 
  • tax reporting – for controlling the business tax terms and payments.
Small business accounting software functionality

Accounting software systems designed specifically to meet the needs of some concrete industries/companies include features that better provide the business activities of the sector(s) such as manufacturing, constructing, or direct store delivery (DSD). Such systems usually provide specific tools for job estimating and costing that are critical for the successful management and cannot be provided by the general accounting software systems.

In another hand, a significant benefit of using the general accounting software is its affordability. The price of computer programs can vary within the broad spectrum. For large companies, the cost of software customization might be not an issue, but small businesses are not able to pay a high price.

If you own a small company that is on a tight budget, the simple general bookkeeping/accounting software such as QuickBooks is the best accounting software for your small business.