Small Business Accounting Software in Excel is used by many small businesses around the globe. It offers many useful features to make your cash flow forecasting easier and more accurate. This simple yet powerful tool is free to use and it helps small businesses keep track of their money in an easy, secure environment.
Small business accounting software in Excel is basically an electronic bookkeeping software that is installed on Excel sheet. It is used for maintaining or tracking daily transactions of any small business or organization. As compared to manual bookkeeping system, this system is considered as an easy and affordable option to maintain the accounts. This article discusses how one can design small business accounting software in Excel by using VBA features.
GoDaddy Online Bookkeeping: Best bookkeeping-only software
Best for bookkeeping onlyGoDaddy
3.5
- Starting at $4.99/mo.
Low starting price
One user only
Time and mileage tracking with every plan
Data as of 11/5/21. Offers and availability may vary by location and are subject to change.
Don’t need full-service accounting software? GoDaddy Online Bookkeeping is an easy-to-use bookkeeping software program perfect for freelancers and eBay sellers who don’t need more than the basics. This bare-bones, no-frills software lets you process debit and credit payments, send invoices, and track finances for $4.99 a month. Bear in mind, though, that it’s just bookkeeping: GoDaddy can help you chart your finances, but it can’t help you analyze those finances to grow your business.
Plooto: Best for Automating Accounts Payable Processes
PlootoPlooto’s payment platform lets you manage payments, approvals, reconciliation and reporting from one central location.The software provides accounts payable and accounts receivable automation, speeding up payments.Plooto syncs with only QuickBooks and Xero, which could be limiting.VISIT SITECOMPARE QUOTES
Most small businesses are crunched for time, so anything they can automate is welcome. Plooto gives small businesses a whole lot of that for a low price, which is why we selected it as the best accounting software for automating accounts payable processes.
Editor’s score: 7.75/10
Xero
Best small business accounting software for extra features
TODAY’S BEST DEALSXero StarterUS$9/mthXero StandardUS$30/mthXero Premium 10US$70/mthVISIT SITEat Xero
REASONS TO BUY
+Temptingly cheap Starter plan+Excellent mobile apps+Fully expandable
REASONS TO AVOID
-Basic plan has limitations-Costs start to add up-Some limitations
Xero might grab your attention with its low-cost Early plan account but look closely and limitations soon become apparent – like being restricted to sending a maximum of five invoices, entering five bills, or reconciling only 20 bank transactions.
Still, if you can live with those restrictions there are some pluses here. The service offers smart expense tracking and management, optionally on your mobile with Xero’s excellent app for Android and iOS. There are dozens of configurable reports, simple budgeting, and no limits at all on additional users or the accountants you might want to access the data.
If the invoice, bank or billing issues are a problem then the Xero Growing plan looks like a better deal. It’s a lot more money, but you can issue as many invoices and enter as many bills as you like.
Xero offers plenty of functionality for any small business, including a handy “convert your QuickBooks files” service to help you get started, and it’s certainly easy to use. But if you don’t quite need all that power, there’s better value to be had elsewhere.
Best free alternative: ZipBooks
Most affordable alternativeZipBooks
2.6
- Starting at $0.00/mo.
Low starting price
One user plus accountant access
Unlimited invoices, billable clients, and vendors
Data as of 11/5/21. Offers and availability may vary by location and are subject to change.
If you don’t need quite as many features as Wave offers, ZipBooks is a solid free accounting software alternative. Even though it’s free, it doesn’t limit the number of invoices you can send (like Xero) or clients you can bill (like FreshBooks) per month—you can access unlimited customizable invoices and accept payments too. ZipBooks’ paid plan starts at $15 a month and offers better bookkeeping and automation features than its free accounting plan. But if you prefer your accounting tools on the go, look elsewhere. ZipBooks has a solid billing-only app for Apple users, but its Android accounting app is near-uniformly panned on Google Play.1
Wave Financial: Best Free Option
Wave FinancialWave links with bank accounts and credit cards, so you can track expenses automatically.Wave gives you standard bookkeeping services for free.Wave’s integrations are more limited than some of its rivals’.COMPARE QUOTES
Wave Financial offers many important, quality accounting features for free. It connects to your bank accounts in real time, and offers payroll and invoicing features and unlimited accountant connections. Those are just a few of the reasons we selected Wave as our pick for the best free accounting software.
Editor’s score: 8/10
Sage Accounting
Best small business accounting solution for multiple users
TODAY’S BEST DEALSSAVE 40%Sage Business Cloud AccountingUS$10AccountingUS$25VISIT SITEat Sage
REASONS TO BUY
+Good value proposition+Neatly presented and easy-to-use+Impressive customer support
REASONS TO AVOID
-Basic options quite limited-Paid for means more to learn-Steepish learning curve
Sage Accounting makes a good first impression with its clear and gimmick-free pricing. The top Sage Accounting plan offers decent value and there is also a 30-day free trial.
For this, you get modules to manage quotes, invoices, handle and submit VAT online, smart bank feeds and reconciliation, cash flow forecasting, some detailed reports, multiple currency support, project tracking and more, all available from your desktop or via a mobile app.
All this is well presented and generally easy-to-use. If you run into trouble, detailed web help and video tutorials are only a click or two away, with the offer of “free unlimited 24/7 telephone and email support” that should help make any newbie comfortable.
Sage also has a more basic offering called Accounting Start. This doesn’t include support for quotes, estimates or vendor bills, and has no cash flow forecasts, but it could be enough for start-ups as well as small businesses.
Conclusion
Who would have thought that small business accounting could be as easy as putting together your grocery list. By using a simple spreadsheet, you can to do accounting for your small business. This approach takes advantage of Excel’s automation to do most of the hard work. When you’re done with this tutorial, you’ll have a task list template that will allow you to quickly reorder your daily tasks and record expenses automatically. Then, by the end of this tutorial, you’ll understand how to pull that data into a Google spreadsheet so you can analyze it and produce reports with ease.