Accounting is an important aspect in running a business. In small and developing enterprises, expanding startups, and micro businesses, accounting is an essential ingredient to success. That being said, not all small businesses are built to be similar to each other. There are glaring differences from the very obvious ones down to the minutest details.
In terms of accounting, small businesses have diverse accounting requirements and demands. In choosing the best accounting software for small businesses, it is important that one must define their accounting needs and seek one that can cater easily to these requirements right out of the box.
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1. Freshbooks
Mobile phones and tablets have become integral parts of almost everyone. From a business standpoint, embracing business strategies related to mobile connectivity and interaction is now becoming an essential course of action. For small startups and developing businesses that are looking for such features in an accounting software, they can’t go wrong with Freshbooks mobile.
Freshbooks simply has almost everything many are looking for in a mobile accounting app – ease of use, great service from the customer support staff, and packed with features that lets you do all the accounting related work even when you are not in the office. Unlike most mobile accounting platforms, Freshbooks does not just offer limited bare minimums. More than just creating and sending invoices via tablet or smartphone, users enjoy an array time-saving and productive tools that are offered in the web version.
Apart from generating and sending invoices, the Freshbooks mobile app facilitates easy and fast payments, making it easy for users to get paid via the app’s payment capabilities via credit card or PayPal. Expense tracker is another feature present in Freshbook mobile, which allows users to track and categorize their expenditures. One useful feature is the photo attachment tool. A user takes a photo of receipts and other documents and attach them to the corresponding expense.
Freshbooks SmartScore and Customer Satisfaction
Our B2B experts conducted a detailed review of Freshbooks features, user experience, customer support and other key elements of the service. Final results as summarized by the SmartScore system gave Freshbooks a score of 9.1/10 while the results provided by the Customer Satisfaction Algorithm place the overall user satisfaction rating at 97%.
2. Quickbooks Pro
Quickbooks is quite popular in the accounting industry with its myriad accounting software and application types. For small businesses that are still in their baby stages, Quickbooks Pro is the ideal entry level accounting platform. The application offers standard accounting tools and on top of it, a variety of industry-specific features and add-ons to make it more suitable to your business.
For those who are not very well acquainted with accounting, Quickbooks Pro presents a set up that is easy to comprehend and a platform that is simple to operate. Financial reports include General Ledger, Statement of Cash Flows, Trial Balance, to name a few. Quickbooks presents report frameworks that are more refined and highly customizable compared to the rest of the competition. Other features include configurable sales forms, automated recurring payments, and transaction categorization.
Quickbooks Pro, along with other versions, is updated annually. And if you are looking for a web-based accounting option, you can also try Quickbooks Online.
QuickBooks Pro SmartScore and Customer Satisfaction
Our B2B experts reviewed Quickbooks Pro accounting software features user experience, customer support and other key elements of the service. Final results as summarized by the SmartScore system gave Quickbooks Enterprise a score of 9.0/10 while the results provided by the Customer Satisfaction Algorithm place the overall user satisfaction rating at 98%.
3. Sage 50
For businesses that engage in retail sales, light inventory and distribution and have 30 or less employees, Sage 50 is a perfect fit for their various accounting software needs. From the get go, Sage 50 is a simple accounting platform that flaunts a very east to interpret graphic interface that uses Navigation centers. Users can also attach files to their records and transactions. These files may be in Word, PDF, or Excel.
Sage 50 also makes it easy and fast to generate and send a single invoice to multiple clients. For a more accurate inventory monitoring, Sage 50 allows users to set up a five-decimal point numbering to inventory quantities and unit price fields. Also, Sage 50 offers the Inventory Analysis Report, which provides users with the real time status of their inventory. The dashboard comes with graphical presentations of the system KPIs (Key Performance Indicators) like profit/loss, top 5 expenses, top 5 customers, etc.
Sage 50 adds value to the product by including the Sage Business Care service. With it, users enjoy the following benefits:
24/7 customer support
Automatic system upgrades and updates
Sage 50 Business Intelligence
Dedicated Account Manager
Webcast series released quarterly
Sage 50 SmartScore and Customer Satisfaction
A full review of Sage 50 functionalities, user experience, customer support and other key elements of the service was conducted by our B2B experts. Final results as summarized by the SmartScore system gave Sage 50 a score of 7.8/10 while the results provided by the Customer Satisfaction Algorithm place the overall user satisfaction rating at 97%.
4. MS Dynamics GP
MS Dynamics GP is one of the most versatile business and accounting software ever, capable of handling operations that range from resource management, to financials, operations, and personnel. This offering from Microsoft is so flexible that it links up many departments within the organization, giving users that control and visibility they need to stay on top of their business. This versatility is one of the reasons why MS Dynamics GP is a perfect accounting tool as well.
This platform carries more than just accounting capabilities. MS Dynamics GP is a unique combination of business platforms that fuses major enterprise processes yet still retains that simplicity that is always the trademark of a Microsoft product. It integrates business intelligence, collaboration, and communication into one compact package.
From an accounting standpoint, user enjoy budget management features such as multiple currencies and general ledger accounts, which are easy to update and maintain. MS Dynamics GP also helps enhance cash flow management with its customizable information views and forecasting capabilities. Other accounting feature include receivables management.
MS Dynamics GP SmartScore and Customer Satisfaction
Our B2B experts wrote a detailed review of MS Dynamics GP features, user experience, customer support and other key elements of the service. Final results as summarized by the SmartScore system gave MS Dynamics GP a score of 8.1/10 while the results provided by the Customer Satisfaction Algorithm place the overall user satisfaction rating at 100%.
5. Intacct
Intacct significantly adds value to small businesses and developing organizations and also to enterprises that are on the look out for an in-house accounting software that is both sophisticated and powerful. A perfect fit for a wide range of industries, Intacct does not have that simplicity and ease of use that usually comes with entry level accounting solutions. It is highly recommended that the organization should have an internal accounting professional manning the system or its accounting operations outsourced to third party accounting agencies to maximize Intacct’s potential.
Straight out from the box, Intacct is a very attractive accounting software option with its extensive set of features that can serve a vast range of industries, such as professional services, wholesale, retail, software, franchises, hospitality, healthcare, education, and nonprofit organizations. That said, there is a special edition of Intacct that is aimed towards accounting firms.
In terms of core accounting features, Intacct is more than adequate to take on even the most complex accounting operations. Features include revenue recognition, fund accounting, subscription management, project accounting, task management, time tracking, recurring invoices, and point of sale.
However, Intacct do have some flaws as it does not provide a module for payroll operations. To balance things out as far as payroll is concerned, Intacct offers integrations with leading payroll applications, including PayChex, ADP, and CompuPay.
Speaking of integrations, Intacct operates well with a vast selection of third party business tools and systems. Help support is also commendable.
Intacct SmartScore and Customer Satisfaction
A full review of Intacct features, user experience, customer support and other key elements of the service was performed by our B2B experts. Final results as summarized by the SmartScore system gave Intacct a score of 7.5/10 while the results provided by the Customer Satisfaction Algorithm place the overall user satisfaction rating at 98%.
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