• Mon. Sep 26th, 2022

5 Most Popular Accounting Software for Small Business


Jul 22, 2022
5 Most Popular Accounting Softwares for Small Business

It is essential to keep track of income, expenses, as well as other financial information when running a business.

Each business, regardless of size, requires robust accounting software to manage bills, invoicing, and expense tracking.

Here are the top accounting software:-

1- Quickbooks

Quickbooks, a web-based accounting program that is used by small and medium-sized businesses (SMBs), is one of the most popular. The cloud-based accounting software allows you to manage your financial activities, such as expenses, projects and invoicing. The central dashboard allows you to create and use key performance indicators (KPIs), which will give you insight into your business’s performance and future trends.

Quickbooks is a popular accounting software because it allows users to collaborate on specific projects. Quickbooks allows you to record receipts, sort tax-based transactions and improve your organization’s financial operations. You can also create custom estimates and manage recurring payments. As with all software, there are bound to be issued.

These problems can be frustrating, especially if you are trying to reconcile or update your books.

Sometimes QuickBooks has problems connecting to networks. This can often lead to lost connections to data files. A minor problem in your network may cause you to lose connection completely, which can be very problematic if you need to send invoices and payments.

You can troubleshoot by ensuring that your firewall and antivirus software aren’t blocking the connection. Next, you can use the quickbooks connection diagnostic tool (QBConnect Diagnostic Tool) to diagnose and solve the problem.

The key features

  • Accounts payable and receivable
  • Project accounting
  • Payroll Management
  • Orders
  • Tracking expenses

2- Freshbooks

Freshbooks, accounting software that is primarily for small and medium-sized companies, has been awarded numerous times. It features a wide range of features that simplify time tracking and client billing.

It is easy to use, reliable, and fast. This software makes complex business accounting simple and enjoyable. This software allows you to quickly create professional invoices. It also automates client follow-up and tracking to help you save time and money.

Freshbooks offers a mobile app for iOS and Android that allows you to keep up with your business from any location.

The key features

  • Online Invoicing
  • Tracking of expenses
  • Time tracking
  • Accounting Reports & Taxes
  • Collect and make payments

Also Read- Quickbooks File Doctor

3- Tally

Tally, an on-premise accounting solution, is used widely by small and medium-sized businesses in many industry verticals. It provides a variety of business functions, including accounting, point-of-sales, job costing, payroll, and many other features.

Tally is one of the most popular accounting software. It offers easy-to-use but powerful features that will help you keep track of your business processes.

The key features

  • Management of the supply chain
  • Distribution management
  • CRM
  • Management of purchase orders
  • Analytics and reporting

4- BUSY Accounting

BUSY accounting is a popular accounting program used by MSMEs to manage their accounts, business processes, and operations. The web-based accounting software for business is designed to work on three different levels. These are:

A- This is the input channel that receives data from users and processes it into reports.

B- This tier is for data processing that can be used by the first tier to interpret.

C- Data is stored here for future monitoring and cross-checking

FMCG, manufacturing, and retail are some of the most important industries that use BUSY.

The key features

  • Accounts payable and receivable
  • Invoicing
  • Bank reconciliation
  • Payroll Management
  • Tax management

5- Horizon ERP

Horizon ERP, a ready-to-use billing and accounting program, is specifically designed for small businesses in India. It meets all accounting requirements of the manufacturing, distribution, retail and wholesale sectors.

Horizon ERP makes it easy to bill and file GST, generate E-way bills, and do other accounting tasks. With its robust Inventory Management System, it helps you keep track of your inventory.

Horizon ERP Live cloud subscription lets users access and works from multiple locations via the internet. This makes it infinitely adaptable. It is easy for businesses with multiple locations, multiple godowns, or chains of stores to bring all their employees together on one platform.

The key features

  • Billing & Invoicing
  • Inventory Management
  • Statutory Capabilities
  • Credit Management
  • Financial Accounting
  • Barcode Module (For Retail)
  • Dedicated POS Window
  • Distribution special features
  • BOM/Manufacturing Voucher
  • Cloud Database

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