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The 5 best tools for business book keeping

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Business owners realize the importance of proper bookkeeping as well as anybody because they work hard for every dollar they make. Regardless of the size of the business, proper accounting can save funds and improve cash flow: two essential conditions needed to grow.

To help you to improve the bookkeeping processes in your business, we have prepared a list of great free tools.

1. Slick pie

This tool is focused on accounting for small businesses and designed to transform the process into an enjoyable experience. The developers made it fully cloud-based software that has a wide range of features that can satisfy the accounting needs of a small business. Even though the software’s free version is limited to 100 bills and 100 invoices a month, it can more than enough if you run a small business.

Here are the most important highlights of the tool:

  • Free for 5 Gb online storage, 100 bills, and 100 invoices a month
  • Open API
  • Financial Reports
  • Tax management
  • Modern design
  • Unlimited simultaneous users
  • Multi-device compatibility
  • Online and phone support
  • Detailed transaction history
  • Bank-grade security
  • Online billing Back reconciliation
  • Source document upload
  • Financial reports

2. Wave

This is one of the most popular accounting platforms for small businesses that already has more than 2 million users all around the world. It has been named the best free accounting software for businesses by Business News Daily because of the extended number of features, user-friendliness, and solutions.

Highlights:

  • Integration with PayPal, Stripe, and other payment systems
  • Free
  • Cloud-based platform
  • Nine types of accounting reports
  • Fully scalable
  • Fast and stress-free setup
  • Easy to use interface
  • Professional invoices
  • Bank data connections use 256-bit encryption and are read only
  • Automatic reports
  • Simple and instant collaboration
  • Built-in Payroll
  • Receipt scanning
  • Built-in Invoicing
  • Works in 180 countries

Wave has been widely accepted as one of the most popular and effective bookkeeping methods for small businesses because of several things. First and foremost, it has the most features, easy interface, tracking, automatic import, contract management, and many other capabilities that exceed the number of functions offered by others. These benefits are certainly appreciated by diverse businesses. It does not provide any limits on invoices, bills, everything… and it is compatible with many operating systems and has free mobile apps.

3. QuickBooks online

Another great accounting solution for small businesses that helps to keep track of the funds coming in and out of your business, all in one easy-to-use place. It provides bank-level security for the data entered by the user to ensure that third parties do not access them. One can generate professional invoices, process payroll, accept online payments, import data and connect with numerous financial institutions. The dashboards are simple and provide a sufficient overview of the transactions.

Highlights:

  • Advisor Program
  • Works for self-employed and businesses
  • Effective dashboards
  • Simple interface
  • Free trial
  • Automatic synchronization with bank account for updates
  • Apps for PC, Mac, and mobile
  • Works with PayPal, Square, and Shopify

4. Zoho invoice

This invoice software was also developed by Winner that created Wave. It helps to make crafting professional invoices, sending automatic payment reminders and getting paid online an easy thing to do because of a wide range of accounting solutions. It has been designed for businesses of many sizes but the developers also provide the plans based on the number of employees, industry, and other characteristics to make it unique. Zoho Invoice integrates with a number of popular web tools, such as Stripe, G Suite, Google Drive, Zoho CRM, Dropbox, One Drive, PayPal, and 2CheckOut.

Highlights

  • Quick and professional invoice creation
  • Easy time tracking
  • 256 bit SSL encryption security
  • Online payments
  • TWENTY-SEVEN financial reports
  • Open API
  • Free for businesses up to 25 clients
  • Effortless expense management
  • Insightful reports
  • Automated payment reminders for customers

5. Invoice ninja

Also used by thousands of businesses, it is an open source-platform to invoice, accept payments, track time and perform other accounting functions. It has been online for three years now and positioned itself as quick invoicing software for small businesses and freelancers who need simple solutions. It has all essential features needed for proper accounting and provides a user-friendly interface, templates, full and partial payments, management of contracts, calculation of total revenue and more.

Highlights

  • Unlimited and free
  • Integration with more than 45 payment gateways
  • Simple interface
  • Cloud-based access
  • Provides invoice templates
  • Manages contract information
  • Expense tracking
  • Auto-billing

The decision to choose the most suitable tool totally depends on you because only you know all needs of your business. While all the tools mentioned in this article work great for small businesses, check out their website to ensure that they are perfect for you. You might also find this small business accounting cheat sheet from CPA Exam Guy to be a useful resource, particularly if your accounting process requires improvement.

Happy accounting!

About Tom Jager

tomj@thebusinesswomanmedia.com'

Tom Jager is professional blogger. He works at A-writer. He has degree in Law and English literature. Tom has written numerous articles/online journals. You can reach him at G+ or Facebook.

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