Only 75 percent of the businesses started in the United States annually will ever reach the two-year mark. One of the main reasons failed business owners give for the demise of their venture is money problems. Instead of waiting until money issues bankrupt your small business, you need to take proactive measures to prevent this disastrous situation.
One of the best ways to keep track of the money coming in and going out of your business account each month is by using top-notch accounting tools. Luckily, there are a number of accounting software programs on the market designed to meet the needs of small business owners.
Read below to find out more about the accounting tools you should be using.
1. The Desktop Pro Version of Quickbooks
For years, Quickbooks has been one of the most popular business accounting software programs on the planet. The Desktop Pro version of this software was designed with small business owners in mind. By using this program, you can keep all of your important information in one easy-to-use dashboard.
You can also set up reminders for things like bills or payments. This program also provides you with an easy to understand profit and loss statement, as well as top customer lists and much more.
One of the main reasons why so many business owners use Quickbooks is because of its simplicity. If you are not very tech-savvy, then Quickbooks may be a good jumping-off point when trying to enter the world of accounting software.
Are you looking for a way to make keeping up with the financial side of your small business easier? If so, then using FreshBooks is a good idea. Not only is this a great tool for startups, but it can also be easily scaled to fit the needs of growing businesses as well.
With this software, you will have no problem generating invoices and estimates in a timely manner. While FreshBooks is similar to Quickbooks, there are some subtle differences. You can check out this Freshbooks vs QuickBooks article to find out more about these programs.
3. Wave Is a Great Option
Before you start the search for accounting software, make a list of features you want. If you are looking for a simple and effective way to track business income and expenses, using Wave could be ideal.
This program also provides you with helpful information that can make tax time and business valuations easier. Since this tool is designed to be used by non-accountants, generating invoicing and calculating payroll are simple.
Take Control of Your Company’s Finances by Using Accounting Tools
Now that you know more about some of the accounting tools on the market, it is time to take action. With a bit of research, choosing the right accounting software will be a breeze.
Are you looking for more small business advice? If so, be sure to check out the rest of the blogs on our website.