If you are looking for Very Small Business Accounting Software, then you have come to the right place. I will discuss four of the most popular Very Small Business Accounting software applications over the next several paragraphs.
Do you have a Very Small Business? I’m sure you do! Every business is a very small business. And for this reason, if you are thinking about accounting software for your business, there are many things to consider before choosing the best option. By now you probably know that QuickBooks Online facilitates very small businesses, but is it the best option for you? In this article we will look into the “best options” as well as alternatives.
QuickBooks Online
QuickBooks Online is an accounting solution for small businesses, freelancers, and independent accounting firms. This cloud-based application combines all essential accounting tools in a single platform to help small businesses streamline accounting and financial management tasks.
Among its features are automated tax calculations, expense tracking, invoice management, balance sheet reporting, bill management, sales monitoring, and more. QuickBooks Online supports multiple devices and is equipped with auto-syncing options so your data will be up to date no matter what device you are using.
Try out QuickBooks Online with their free trialVISIT WEBSITEFREE TRIAL
In terms of integrations, you can integrate QuickBooks Online with other Intuit applications, including QuickBooks Payments and QuickBooks Payroll. As for third-party applications, QuickBooks integrate seamlessly with Bill.com, Jobber, Mavenlink, Method CRM, Shoeboxed, and Time Tracking by TSheets. QuickBooks Online’s subscription plans start at $10.00/month for one user.
GoDaddy Online Bookkeeping
- small business accounting software freesmall business accounting software freesmall business accounting software freesmall business accounting software free
Websitewww.bookkeeping.godaddy.com
Best cloud accounting software for online sellers.
Best for:
GoDaddy Online Bookkeeping is a simple cloud-accounting solution for those who don’t need a more robust option but would like something that syncs with third-party platforms like Amazon, eBay, Etsy, and PayPal. Designed primarily for the sole proprietor or micro-businesses, it’s a good option for smaller online sellers and consultants.
Key features:
GoDaddy Online Bookkeeping provides core features for easy bookkeeping requiring very little prior accounting knowledge. Convenient integration with reseller and retail sites such as Amazon or Etsy combined with the easily accessible dashboard helps GoDaddy Online Bookkeeping users monitor their money easily.
Functionality depends upon the package chosen, with the most basic—the Get Paid plan—including invoices and estimates, mobile payment acceptance, mileage and time tracking, and current-year business reports. The Essentials plan adds unlimited reporting capabilities, tax preparation worksheets for individuals, bank and credit card imports, and the ability to import sales data from sellers such as Amazon, eBay, and Etsy, as well as a direct sync with PayPal. The Premium plan adds a recurring invoice feature, as well.
Users should know, however, that GoDaddy Online Bookkeeping is not a double-entry accounting platform. As such, it’s lacking in several areas, including accounts payable and reporting. It also doesn’t include strong billable expense tracking, project management, and contact management tools, which are often needed by small and growing businesses.
Notifications can be turned on for specific tasks, such as when clients view documents. Users can also track time and mileage manually, and while the manual data entry isn’t ideal, it may be sufficient for many sole proprietors and freelancers.
GoDaddy Online Bookkeeping is a basic offering designed for the self-employed, so it’s limited to a maximum of two users at a time. The vast majority of GoDaddy Online Bookkeeping’s intended user base won’t need more than two users, though. A mobile app for Android and iOS is available, as well, and users can do almost everything that’s included in the web-based version, making it one of the better apps on this list.
GoDaddy Online Bookkeeping also boasts a comprehensive quarterly and end-of-year tax reporting system, which is truly one of its best features. Users can produce a Schedule C report that maps information to specific tax lines, and there are sales tax and other tax worksheets available, as well.
Ease of use:
GoDaddy Online Bookkeeping is designed to keep accounting simple and easy. The dashboard simplifies tasks needed for profit and loss, time tracking, financial reporting, and invoices. The dashboard even has an estimated quarterly tax payment option to keep users apprised of upcoming tax obligations. Automated functions just need a one-time set-up, so almost no manual entry is required.
Cost:
There are three plans available from GoDaddy. The Get Paid plan is an inexpensive base package and is included in all other packages. The Essentials plan is their most popular option and comes with automated imports and tax worksheets. Essentials is still relatively cheap. Godaddy’s Premium package includes all other features as well as unlimited business reports and recurring invoices. The Premium plan is the most expensive but is still affordable compared to some competitors.
Things we liked:
- Unrivaled reseller integration
- Good mobile apps
- Easy to set up and use
- Very affordable
- Quarterly and end-of-year tax tracking
Things we didn’t like:
- No bill-pay (accounts payable) feature
- Time and mileage tracking is manual
- Not designed for multi-employee businesses
AccountEdge Pro
AccountEdge Pro has the honor of being our top-rated accounting application and with good reason.
A good fit for small and growing businesses, AccountEdge Pro is an on-premise application that also offers the convenience of remote access, taking you easily through the entire accounting cycle.
Easy integration with Shopify and UPS Shipping makes AccountEdge Pro a particularly good fit for online retailers.
AccountEdge Pro offers solid invoicing capability, along with excellent time and billing functionality that can track both billable and non-billable hours. Self-service and full-service payroll is also available, and a solid inventory module lets you easily manage your stock. AccountEdge Pro recently added an automatic bank feed option, allowing you to connect both bank and credit card accounts to the application. A $5 subscription fee is required to use the bank feed option.
AccountEdge Pro offers top-notch invoicing capability for small and growing businesses.
As an added bonus, AccountEdge Pro also includes a Contacts feature for tracking customers, vendors, and employees using a single database.
Reporting options are excellent in AccountEdge Pro, including an audit trail report. A mobile app for both iOS and Android devices is also available.
Perhaps one of the biggest benefits of using AccountEdge Pro is its pricing structure. Scalable, with four plans available, the Basic plan has a one-time fee of $149, while the Pro plan is $399. Additional licenses are extra, as is the Payroll subscription. If you’re looking for complete online access to all features and functions, check out AccountEdge Pro Hosted. A subscription to AccountEdge Connect currently runs $25/month for up to five users, while AccountEdge Pro Hosted is available for $40/user per month.
If you wish to access the application remotely, AccountEdge Connect will run $25/month. You’ll also pay extra for phone support.
Another benefit to using AccountEdge Pro is the stability it brings as an on-premise application that also offers remote access. With plans suitable for a one-person operation to an enterprise-level business, you will never outgrow AccountEdge Pro.
Conclusion
Small business accounting software is a powerful tool that can help you run your company in a professional manner. However, most businesses fail in making a right decision when it comes to choosing a small business accounting software for their operation.