Best accounting app for small businesses

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Accounting is an essential arm of any business organisation as it gives businesses an overview of their profits and loss as the case may be. Proper financial management can be done through accounting processes.  It enables business owners to keep records of Expense incurred and profit made, and this information is useful in making solid financial decisions.

With technological advancement and the need to stand a chance in a very competitive market, this has resulted in the development of various accounting software. Accounting apps aids accountants in documenting business transactions thereby eliminating the need for manual entries and in turn reducing human errors. For start-ups, the following should be taken into consideration when choosing an accounting software; price, ease of use, security and integration.

A cloud-based solution provides flexible pricing, integration and customised processes, which can significantly benefit small businesses. The benefits associated with high tech in accounting have resulted in the continuous advancement of accounting market. The following accounting software can be of help to growing businesses.

EMERGE App

It is a detailed ecommerce management package that gives its users, multiple channel system, inventory management platform and accounting solution. This application can be used by wholesale distributors and ecommerce dealers. It offers a flexible payment plan for different scales of businesses. EMERGE App helps with accounting and Finances as it can be used to generate a statement of account for customers, audit payments made and also used to generate an invoice for suppliers. It also helps with proper documentation credit and debit transactions and automated updates on finance transactions. The dropship feature of EMERGE App allows users to control purchases made. With the drop ship model, information can be gotten from purchases and orders made. It manages orders made in batches for timely transactions.

FreshBooks

It is an easy to use cloud-based accounting software that can be easily accessed by most devices. This app is an invoicing software that includes properties like time and expense monitoring, and it is also flexibly priced. Payments can be easily made using Fresh Books because it allows clients to make online payments, Fresh Book offers both phone and email support. It can also be used to manage expenses and project. Integrations are possible with numerous apps. FreshBooks allow you to add more features and connect with other programs used for scheduling, analytics, marketing and a lot more.

Sage Inttact

It was derived from the words internet and accounting, which implies that it is a cloud-based accounting system. It is suitable for businesses looking for a more versatile accounting system.  So, to use this software adequately, you have to have a good understanding of accounting processes.  Some of the features of this app include; purchasing, order entry, gender ledger, account receivables and payables, cash management and employee expenses.  Advanced features such as project accounting, global consolidation, revenue recognition, salesforce.com integration can also be added.

Bright Pearl

It can be used as an alternative software to Fresh Books and can be very efficient for small to medium scaled businesses. Though Bright Pearl and Fresh Books are similar in functionality but are both differently priced. Bright Pearl is considered to be more budget-friendly and is one of the leading accounting software for retailers.  It is cloud-based and can be used for accounting, inventory check for managing customers account by the store manager. It has a centralised organisational hub that can be combined with a shipping function, where you can control payables/receivables for all transactions made. Other features provided include; quoting, POS suites, order management, CRM quoting, batch quoting, and sales related applications.

Financialforce accounting

It offers a new dimension of how businesses should manage their finances and do accounting. It functions using force.com and provides users with a vast system that can be easily handled. The platform is more suited for experienced and professional accountants. This App offers proper accounting, billing, media, professional services and automated solutions. Other range of services includes; automated ordering, cash management, billing, cash flow monitoring, simplified payables and receivables and an excellent and adjustable ledger.

QuickBooks online

QuickBooks Online is an accounting suite that is ideal for small businesses. It is easy to use and provides features like payroll, A/R and A/P, inventory reports and financial statements and does not require the operator to be a financial expert. It aids Online banking by synchronising with accounts from numerous financial institutions. QuickBooks Online gives access to your account from mobile devices and harmonises with many other apps for added functions

Generally, there are numerous accounting apps that can be of great value to emerging businesses, the ideal accounting app for any business will depend on a list of factors such as the type of business, budget constraint, apps flexibility, expertise and a number of other factors. Therefore, small businesses should identify what they require in an accounting app and settle for one that ticks most of the boxes.