Accounting software is a one kinds of special software that bookkeepers and accountant use this for record keeping and and reporting firms financial transactions. It is become assistant of business. By this you can easily get know about your financial condition of your business.
Importance of using accounting software
- Analysis and reporting: It is very important to know analysis and report to your small business or company accounting software helps accountant to analysis the transaction of business and give the report the present condition of business.
- Control of financing: By using accounting software ,accountant or manager can control his financing activities very easily.
- Save cost: By accounting software ,a business man can reduce its extra cost of business.
- Save valuable time: Accountant can save his valuable time by using accounting software
- Accurate data accuracy : You can find accurate data accuracy by using accounting software.
- Take decision easily: A business man can take his decision for his business or compony by his financial condition thought using accounting software.
- Ideal planning: It is helpful for a business man to Crete new idea or plan for his business.
- Controlling: A business man control his business or company by accounting software.
- Financial data security: By using accounting software you can keeps your data safe ,nobody can easily see your financial data
Features of accounting software
- Inventory management: Inventory management can be easily know by the using accounting software.
- Manage cash flow: Accountant or financial manager can easily manage cash flow of business or company by accounting software.
- Cash management: cash management can be controlled by accounting software
- Risk management: Risk can be diminution and management of total risk of business or company by accounting software
- Know the account receivable and account payable: You can know the total number of account receivable and account payable of your business or company.
- Create customer relationship: You can create relationship your customer by accounting software.
- Collection management: By using accounting software you can know total collection of cash and other actives .
- Revenue management: You cam know how much revenue you get from business by accounting software.
- Purchase and sales management: You can know the number of total sales and purchase of your business or company.
The list best accounting software
Now i will discuss top accounting software companies, lets start
1. FreshBooks
FreshBooks is the best accounting software for micro business and also freelancer. It is user friendly interface system. It has advanced invoicing features. It has also great timekeeping and project management tools. It supported with android, iOS ets. It offers unlimited customizable invoice.
2. QuickBooks online
QuickBooks online is the best accounting software for new business and also for small business. It has excellent customization option. It works with android, iOS ets. It has great feature such as invoicing, bling and receipt scanning ets.
3. Xero
Accounting software Xero is cloud based which is a strength for business . It is fast ,simple and powerful. It provides easy customization to suit your workflow .It has 24/7 customer service facility to the customer. It supported with mobile ,online, email ets
4. Zoho
Zoho is a entry level accounting application It is easy to use.It provides various features such as as automated workflows ,custom invoice, expense tracking, project and timesheets, recurring transaction, sales approval ets. It supported with android, iOS ets.
5. Wave
Wave is the best free accounting software .It is a powerful and well designed financial management package . It has unlimited collaborators and invoice .It reminds automated payment. It provides free chat support for first 60 days.
Bottom line:
In the end we can say that the importance of accounting software is too much . By the reading this article you can know which accounting software will be best for for your business and freelancing .Thanks for read and share this article.