When it comes to managing your business’s finances, having the right accounting software is crucial. With so many options on the market, it can be hard to know which one to choose. That’s why we’ve compiled a list of the best desktop accounting software for 2016, so you can find the perfect fit for your small business.
User-Friendly Interface
QuickBooks Desktop Pro is one of the most popular accounting software options on the market, and for good reason. Its user-friendly interface makes it easy to navigate, even for those who are new to accounting. With features like invoicing, bill tracking, and financial reporting, QuickBooks Desktop Pro has everything a small business needs to manage its finances.
Robust Reporting Capabilities
One of QuickBooks Desktop Pro’s standout features is its reporting capabilities. The software offers a wide range of financial reports, including profit and loss statements, balance sheets, and cash flow statements. These reports can be customized to fit your business’s unique needs, giving you valuable insights into your finances.
Integrations
QuickBooks Desktop Pro also offers a variety of integrations with other business tools, such as PayPal, Shopify, and Square. This makes it easy to manage your finances all in one place and streamline your business operations.
Cloud-Based Accounting
Xero is a cloud-based accounting software that offers real-time financial reporting and collaboration. This means that you can access your finances from anywhere, at any time, and collaborate with your team in real-time. This is especially useful for businesses with remote teams or multiple locations.
Automatic Bank Feeds
Xero also offers automatic bank feeds, which means that your bank transactions are automatically imported into the software. This saves you time and reduces the risk of manual errors.
Unlimited Users
Unlike some other accounting software options, Xero offers unlimited users at no extra cost. This makes it a great choice for businesses with multiple team members who need access to financial information.
Advanced Inventory Management
Sage 50cloud is a comprehensive accounting software that offers advanced inventory management features. With tools like inventory forecasting, serial number tracking, and purchase order management, Sage 50cloud is a great choice for businesses that need to manage a large inventory.
Customizable Invoicing
Sage 50cloud also offers customizable invoicing, which means that you can create professional-looking invoices that fit your business’s branding. You can also set up recurring invoices and automate payment reminders, saving you time and reducing the risk of late payments.
Multi-Currency Support
If your business operates internationally, Sage 50cloud offers multi-currency support. This means that you can manage finances in multiple currencies, making it easy to do business across borders.
Free Accounting Software
Wave is a free accounting software option that offers basic accounting features like invoicing, expense tracking, and financial reporting. While it may not have all the features of some of the other options on this list, it’s a great choice for businesses that are just starting out or on a tight budget.
Easy-to-Use Interface
Wave’s interface is simple and easy to use, making it a great choice for those who are new to accounting. It also offers mobile apps for iOS and Android, so you can manage your finances on the go.
Integrations
Wave offers integrations with a variety of business tools, such as PayPal, Etsy, and Shopify. This makes it easy to manage your finances all in one place and streamline your business operations.
Automation
Zoho Books offers a variety of automation features, such as recurring invoices, payment reminders, and bank feeds. This saves you time and reduces the risk of manual errors.
Collaboration
Zoho Books also offers collaboration features, such as team members with different access levels and the ability to share financial reports. This makes it easy to manage your finances with your team.
Customizable Invoicing
Zoho Books offers customizable invoicing, which means that you can create professional-looking invoices that fit your business’s branding. You can also set up recurring invoices and automate payment reminders, saving you time and reducing the risk of late payments.
What is the best accounting software for small businesses?
The best accounting software for small businesses depends on the specific needs of your business. QuickBooks Desktop Pro, Xero, Sage 50cloud, Wave, and Zoho Books are all great options to consider.
How much does accounting software cost?
The cost of accounting software varies depending on the specific software and the features you need. Some options, like Wave, offer free accounting software, while others, like QuickBooks Desktop Pro, can cost several hundred dollars.
Can I access my accounting software from my mobile device?
Many accounting software options offer mobile apps for iOS and Android, so you can access your finances on the go. QuickBooks Desktop Pro, however, is only available on desktop.
Do I need accounting software if I have an accountant?
While having an accountant can be helpful, accounting software can still be beneficial for keeping track of your finances on a day-to-day basis. It can also help your accountant by providing them with accurate financial data.
Can I use accounting software if I have limited accounting knowledge?
Yes! Many accounting software options, like QuickBooks Desktop Pro and Wave, have user-friendly interfaces that make it easy for those with limited accounting knowledge to use.
What is the difference between desktop accounting software and cloud-based accounting software?
Desktop accounting software is installed on a specific computer and can only be accessed from that computer. Cloud-based accounting software, on the other hand, is accessed through the internet and can be accessed from anywhere, at any time.
Can I import data from my current accounting software into a new accounting software?
Many accounting software options offer import features, allowing you to easily transfer data from your current software to a new one. However, the process may vary depending on the specific software.
Can I use accounting software for invoicing?
Yes! Many accounting software options, like QuickBooks Desktop Pro, Xero, Sage 50cloud, and Zoho Books, offer customizable invoicing features.
Desktop accounting software offers a wide range of features for managing your business’s finances, including invoicing, bill tracking, financial reporting, and inventory management.
Many desktop accounting software options offer integrations with other business tools, making it easy to manage your finances all in one place.
Cloud-based accounting software offers the flexibility of accessing your finances from anywhere, at any time, and collaborating with your team in real-time.
Consider your business’s specific needs when choosing an accounting software option.
Take advantage of free trials to test out different software options before committing.
Make sure to choose a software option that offers the features you need, but don’t pay for features you won’t use.
Choosing the right accounting software is crucial for managing your business’s finances. QuickBooks Desktop Pro, Xero, Sage 50cloud, Wave, and Zoho Books are all great options to consider, each offering unique features to fit your business’s specific needs. Consider factors like cost, features, and integrations when making your decision, and take advantage of free trials to test out different software options before committing.