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Accounting Software - Complete Controller

Accounting and bookkeeping are a part of every business, no matter the size. Most larger businesses have entire departments dedicated to accounting, payroll, and the business’s financial workings. Small to medium businesses may or may not have staff dedicated to accounting and bookkeeping, but most small businesses resort to handling their accounting and bookkeeping through software. While most users will immediately jump on Intuit’s QuickBooks accounting software, known for its vast number of features and user-friendly design, other accounting and bookkeeping software are considered. Here is five accounting and bookkeeping software to consider for your business. Check out America's Best Bookkeepers

GnuCash

GnuCash is considered an extremely simple and user-friendly bookkeeping software. It is a great alternative to other bookkeeping and accounting software because it has efficient services and works with the vast majority of operating systems, including Mac and Windows PCs. Those who use it say its design is easy to use and integrated into your business no matter the size.

TurboCASH

TurboCASH is the perfect accounting tool to manage financial activities specifically for small and medium businesses. The greatest thing about TurboCASH is that it can handle more than one business at a time. So if you have multiple businesses or want your business and personal accounting and bookkeeping needs in one place, this software makes that possible. It is also an open-source accounting app that provides financial management services to financial businesses, and because of the open-sourcing, it has an incredible online community for support. Check out America's Best Bookkeepers

NCH Express Invoice

The NCH express invoice software is used to generate invoices, orders, quotes, and forms. Just as the name implies, this software is not as much an accounting and bookkeeping software as it is an invoice generating software. It still makes this list because users say it has great use in their business, and it is often used in concert with accounting and bookkeeping software that doesn’t have features that include invoicing.

Wave

Wave is an accounting application integrated to run home business bookkeeping and is mainly used to provide cloud-based services specifically to cater to accounting activities. This accounting application is used to manage the finances of small and medium businesses. It is also best known for having a user-friendly design with great service and features and excellent functions for small to medium businesses. Wave is also considered a highly-efficient software that is free; however, it will incur some costs if you want to include some of the upgraded services it offers for a nominal fee. Check out America's Best Bookkeepers

Money Manager Ex

Money Manager Ex is designed to manage accounts for small businesses and household finances efficiently and effectively. It is user-friendly, has excellent accounting features, and it is easy to use between devices. Like TurboCASH, Money Manager Ex is an open-source tool designed to deliver usable accounting services.

Accounting, bookkeeping, and invoicing software are not limited to one brand or service through some software that may be more recognized or widely used, such as Intuit’s QuickBooks. Some business needs are such that more expensive accounting and bookkeeping software would waste precious small business funds.

When deciding what software to use to take care of your business’s accounting and bookkeeping, you must do some research and get what you can afford to do the job you need to be done. When deciding what software to use, the other thing to consider is whether the software will still work if you meet your business plan growth projections. You can switch to an upgraded software to accommodate your business after growth. Sometimes, this change can cause issues, so you may want to consider an accounting and bookkeeping software your business can grow into rather than one that fits your current needs.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Accounting and Bookkeeping Software - Complete Controller

Every business must focus on accounting and bookkeeping to be financially healthy. They will need to have meticulous records for tax purposes, budgeting, payroll, and to produce financial statements required for financial uses. Though it is highly recommended that you hire a professional accountant or bookkeeper (or both), many small businesses cannot afford to do so and must utilize accounting and bookkeeping software. Check out America's Best Bookkeepers

Most software dedicated to business accounting and bookkeeping is practical and useful. Some are better than others. The software may be superior in quality or function, or it may be better because it is lower cost or more user friendly. Whatever the reason, here are the best five accounting and bookkeeping software and their key features to help you decide which is best for you and your business.

Quickbooks

Quickbooks by Intuit is perhaps the best known and most used in this list. Despite this, it may not be what every small business needs. Quickbooks is widely considered the best overall accounting and bookkeeping software, but this means its price tag is a bit more than other effective software in this category. It can be purchased for a one-time expense for the desktop version, or it can be purchased through a monthly subscription for the portable cloud-based version.

The desktop version is compatible with all computer types; however, the cloud-based version is not compatible with Mac computers at this time. It is expected it will eventually work for all users in both versions. Check out America's Best Bookkeepers

Xero

Xero is a fantastic and easy to use cloud-first accounting and bookkeeping software. It has over 600 integrations meant to help business owners with basic accounting, payroll, inventory, and much more. One of its advantages is that it is a cloud-based software compatible with the Mac making it an ideal software for those Mac users who want cloud-based accounting software. One of Xero’s most remarkable functions is a money and time tracking component that will analyze real-time costs for a project using this function.

Zoho Books

Zoho Books is one of the more user-friendly accounting and bookkeeping software on this list. This software includes easy to read dashboards and graphs that are straightforward as far as any user would be concerned. Because it is simple, it doesn’t include some of the features of Quickbooks. Still, if your business doesn’t have payroll or heavy inventory, it is perfect, and the price tag reflects the simplicity. Some of the excellent features it includes are automated payment reminders for your business accounts payable and receivable. It also has some features for project management and smaller inventories. While it is less expensive than other software, the monthly fee will vary depending on the features you choose to include in your package. Check out America's Best Bookkeepers

Wave

Wave is a free accounting and bookkeeping software that offers only basic personal and business accounting and bookkeeping features. This software was developed with the sole proprietor or freelance businesses, as it has no features to deal with heavy business accounting. It does do the job if you need a simple software and doesn’t have it in your budget to purchase something with more functions

FreshBooks

FreshBooks is similar to Wave in that it has limited accounting features and was developed with the freelance or sole-proprietor business in mind. It does have a few more business-related features than Wave and includes a low monthly subscription fee, but it comes highly recommended by those business owners who use it as intended. It is simple in design, which keeps its user friendly for the sole proprietor.

Conclusion

Suppose you are a small business owner and cannot afford to hire an accountant or bookkeeper. In that case, you will need to implement accounting and bookkeeping software or risk financial issues that could destroy your small business. Consider your needs as a business owner and apply those needs to the information provided to help you decide which accounting and bookkeeping software are best for you and your business.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Business Finances - Complete Controller

When starting or maintaining a small business, your business finances are essential to ensure smooth financial operations. To do this, your business accounting and bookkeeping practices must be reliable and accurate. A business owner should take steps when contemplating the business’s financial needs alongside personal financial needs.

Accounting and bookkeeping are essential tools for keeping business finances in order, but first, there are other issues you need to address as a business owner. One of the most important first steps to your business’s financial stability is to separate your finances from your business finances. It is a common and understandable mistake for the business owner to co-mingle their personal and business finances. While when you are first starting your business, combining the finances may not be significant. Once a business starts growing, separating business and personal finances should be a priority. Check out America's Best Bookkeepers

Once your business and personal finances are separated, there are other steps to keep your business finances in order. Here are five accounting tips to get and keep your business finances in order.

Focus on Accounting and Bookkeeping

Whether your business is large or small, accounting and bookkeeping is an essential focus for your business. Larger businesses may need an entire accounting and bookkeeping department, while a small business may use accounting and bookkeeping software to keep up with the business finances. All businesses of any size have in common that they need to focus on the business’s accounting and bookkeeping. This focus will ensure that your business finances are organized and easily kept in control. Check out America's Best Bookkeepers

Fixed and Variable Expenses

Fixed and variable expenses exist in any business. Fixed expenses are those business expenses that are the same and expected every month. These expenses could be rent or mortgage, utilities, or long-term loan payments. Variable expenses are those expenditures that vary monthly. They can be recurring but vary in amount or when they are due. Variable expenses include production supplies or materials, salary payouts, and commissions, or various fees. To keep your business finances in order knowing what these expenses are and the differences will help in your business accounting.

Billing Strategy

A common issue in businesses of all sizes is billing challenges. While large businesses can cover the deficits they may suffer because of billing issues, invoices not being paid can deeply impact small businesses. No matter the billing issue’s size or depth, a business must come up with a billing strategy. There are a few ways you can structure billing to maximize your accounts receivable and company bottom line.

  • Shorter Payment Window
  • Early Payment Incentives
  • Discounts for Full Payments Upfront
  • Automated Payments Check out America's Best Bookkeepers

Bookkeeping Strategy

Whether using a professional bookkeeper or using bookkeeping software, you must keep on top of your books daily, weekly, or monthly. If you only concern yourself with your books and business finances sporadically, you may not be prepared to handle them properly if there are financial issues. If you are keeping up with what is in your books regularly, there should be no surprises in business finances or accounting issues. If you are handling your business’s accounting or bookkeeping yourself, make all entries immediately to ensure nothing gets missed. It is vital that your bookkeeping be a priority.

Practice Good Financial Habits

As with personal finances, business finances require you to have good financial habits. Being aware of your books and bookkeeping practices is just one aspect of your business finances. You need a budget and to stick to the budget just as you do in your household. Every expense should be accounted for to be aware of areas where you need to improve your financial habits.

Conclusion

Keeping your business finances in order is easy if you follow a few steps. Separating your personal and business finances, having billing and bookkeeping strategies, understanding essential aspects of accounting and bookkeeping, and practicing good financial habits will ensure your business finances will stay organized and in order and never out of hand.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Chartered Accountant - Complete Controller

In recent years, the accounting sector has been shaken by many upheavals: dematerialization, increased competition, new expectations of companies. The profession of a chartered accountant has thus had to reinvent itself to sustain its performance. Find out what is expected today from a chartered accountant.

The profession of chartered accountant

The chartered accountant’s role has always been to support business leaders in their creation, takeover, or daily management of their company. Check out America's Best Bookkeepers

Beyond intervening within the framework of the simple realization of annual closings, the chartered accountant:

  • Advises entrepreneurs on the choice of legal status;
  • Guide managers on the choice of social status;
  • Support managers in optimizing their taxation;
  • Help in managing the company’s financial funds;
  • Ensures accounting management;
  • Performs contractual audits.

This list is far from exhaustive and will be extended according to the needs of the entrepreneur.

In addition to these main missions, accountants are increasingly confronted with the digital economy and information exchange scope.

Guarantors of corporate financial information must now educate their customers on the security of financial data and the storage and preservation of accounting documents.

Their role is now to support entrepreneurs in their digital transition. Check out America's Best Bookkeepers

Creation and implementation of a support program

Forced to adapt to these new needs, the chartered accountant must promote his advising and become a real key partner of the company. For this, he must expand his services and offload all the tedious and time-consuming tasks to bring real added value to his customers. He must :

  • Offer advice at the right time;
  • Be proactive in meeting the needs of leaders;
  • Identify the most suitable accounting and administrative organization for the company;
  • Set up management tools to facilitate exchanges with its customers;
  • Respect the formalism linked to the new accounting obligations;
  • Offer customers the possibility of having reliable tools that comply with the law.

The chartered accountant must keep himself constantly informed of news related to his activity sector to protect his clients’ best interests. His engagement letter should no longer only mention bookkeeping, but indeed personalized support.

To sum up, beyond providing current advice, accountants must now deliver cutting-edge expertise in line with everyday reality. All the more so in this period of crisis and a rapidly changing world, they must position themselves alongside entrepreneurs as partners on whom we can count.

How to start your business?

Do you want to start alone? You will have more work, but you will have the advantage of being your boss, and you will have less turnover to be able to pay you. If you are several, the work will be shared, but it will be necessary to generate a more considerable turnover to reimburse all the partners. Check out America's Best Bookkeepers

What are the formalities for setting up your accounting firm?

 To open your practice, you must first find a room, the best possible location like a city center. You must ensure proper management of your budget to be able to support the office rental and expenses. Joining up makes it easier to manage the firm’s costs incurred at the start of the business. You can continue your project alone when you have won your customers’ loyalty and acquired the necessary funds.

How to start your business?

Whatever your situation, the company’s legal form most suited to the exercise of the activity of chartered accountant is the limited liability company or its one-person form if you are alone: ​​EURL. This is justified by a more advantageous tax system for this type of activity, which requires significant computer hardware costs and the calculation of social contributions.

You can choose to be a generalist or a specialist. The second option will be more suitable if you exercise in a big city. On the other hand, in less populated regions, it is better to opt for general practice.

If you have the necessary funds, you can take over a former colleague’s clientele, which will allow you to start your business quickly with good remuneration. On the other hand, if you start at the starting point, you will have to canvass the first customers. You have several options for finding customers. You can contact large firms and offer them subcontract work. You can also use platform services connecting experts and business leaders, which quickly generates contacts. It would be best if you also thought about having your website well referenced with a blog section to promote your expertise and bring you a certain number of customers.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Buying a business - Complete Controller

There are many advantages to buying an existing business rather than starting one. First, you avoid many of the ills associated with starting a business from scratch, such as those caused by new product development, hiring staff, and building a customer base. You also avoid going through the crucial first years that are often fatal to new businesses. It can also be an excellent way to break into areas where start-up costs are high, such as tourism and manufacturing. Ask yourself the following six questions to make sure you’re buying a profitable business.

Despite these advantages, existing businesses are rarely perfect, and ignoring their flaws can lead to a host of problems.

Here are six questions to ask yourself to make sure the proposed acquisition is right for you. Check out America's Best Bookkeepers

Why do customers appreciate the business?

A business with an established client base can be more expensive to purchase, but it is not necessarily bad. You inherit the company’s ” business background, “giving you easier access to cash and building on relationships already established with customers.

But to make sure a business is worth your time, you need to find out why people do business with it.

  • Is it for its quality products or its excellent service?
  • Is it for its experienced and professional employees?
  • Is it for the relationship between the customers and the owner?
  • Will a change of ownership make a difference?

Market research can explain ​​how customers perceive the company’s products, services, and overall brand.

Think carefully before acquiring a reputable business, as it can be challenging to change flawed perceptions. Ask yourself why the business is for sale and find out about its reputation and its owner.

See what people are saying about the online business. It may not represent the big picture, but you will get a good idea of ​​what inspires the company and what needs to be done to change negative feelings. Check out America's Best Bookkeepers

The product or service is unique in the market?

If your target business is in an industry where competition is intense, probe deep to find out how the business stands out, as this is a key reason customers are loyal (see above).

If there are no apparent distinguishing features, think about what you can do to stand out from the crowd, and the efforts and costs involved.

What does corporate culture look like?

Take a look at the company’s culture, its management style, the quality of its work, and the relationships that the seller maintains with employees and managers. Check whether these aspects correspond to your philosophy and whether it is worth making changes to them.  Rapid change after an acquisition can cause resistance from employees, suppliers, and partners.

Long-term employees are a great asset. They know the business, the products, and the processes. Also, they can provide company and sector information. If staff turnover is high, question the cause. Is it due to competition within the sector? Is it because of the corporate culture? Is this linked to the aging of the workforce? The answers to these questions will give you an overview of the challenges or needs in human resources.

Do you know enough about the company or the sector?

Do not fall into the trap of buying a business in a field that is unknown to you because it seems to you to be a “safe deal.”

It is much more challenging to succeed in a sector where you have no experience or which interest you little. Evaluate your skills, interests, and experience, then make sure the business matches this insight’s results. By choosing a known territory, you significantly reduce the risk of failure. Check out America's Best Bookkeepers

  • Will this new business integrate with the businesses you already own?

If you want to expand your business by acquiring, you will need to seek synergy in key areas.

  • Its products or services should be related or complementary to your current offer.
  • Marketing and sales techniques need to fit in with each other.
  • You will also need to harmonize production and distribution methods.

You will need to integrate the new business staff into your existing activities and have a plan to deal with potential redundancies.

It may be useful to start thinking about the integration plan during the due diligence process. Your evaluation must go beyond simple accounting to also take into account your strategic objectives.

Are there any hidden costs?

Hidden issues can make the business less attractive than it initially appeared. For example, if the lease for facilities or equipment expires soon, you may have to incur unforeseen expenses. By doing proper due diligence, you can uncover these problems and avoid costly oversights that can get you into unnecessary debt.

Once you have started the due diligence process, do not limit yourself to analyzing activities and financial statements. It would be best if you also spoke to employees and suppliers to assess the fair value of the business.

Finding a company to buy it can be time-consuming and costly. But, when done right, the effort can be worth it.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
digital tech and accounting - Complete Controller

Remote working is no longer just an innovative buzz-word that productions are seen leveraging lately. It has converted to somewhat more than that, particularly after the onset of the COVID-19 pandemic. A few years ago, corporate owners were often obliged to hire an underqualified or under-experienced individual as an employee, owing to the lack of expert personnel nearby. Though this has prevailed for a long time, times have changed since. Check out America's Best Bookkeepers

Most of us know how market giants like IBM promote the work-from-home strategy. These days, many employees have the luxury of working from remote places. This has become possible due to the availability of innovative digital technology that serves a range of purposes. When you dig into the details of remote working, two prominent features come into play. Firstly, it saves the operational cost. Fewer workers on the floor mean reduced disbursement on software, hardware, and overall staff maintenance. And second, it gives businesses the option to hire a highly qualified applicant, regardless of the geographical barriers in-between.

How is the Remote Working Helpful in The Accounting Industry?

There is no uncertainty over whether the remote working structure has given accounting the makeover it badly needed. Before the introduction of technology, there were several issues with the tasks that accountants needed to handle. From errors to time-consumption to the tasks being tedious, many areas had room for improvement. What are the positives of the cloud entering the accounting industry? Let’s discuss this in detail. Check out America's Best Bookkeepers

Environment and Efficiency Goes Hand in Hand

The cloud is not just some technology that presents competence in the bookkeeping process. Of course, making entries on the substantial ledgers, keeping the sheets, and jotting the whole thing down is a massive deal for accounting companies. With cloud-based services and applications, firms have not only enjoyed a time-saving day-to-day course but have also observed a substantial decrease in errors. Apart from these benefits, using technology to handle accountancy functions has made the process much more straightforward and efficient than before.

Helping the Modern Accountant Be

The firms that have gone global are international, but the modern accountant has also followed suit. Unlike the olden days, where accountants would pay regular visits to their client’s offices and run them through their accounts and bills, today’s professionals can do it all sitting in their own office or at home. This saves both the client and the accountant and enables the accountant to offer his services to a broader range of clients. Also, during remote working, that becomes possible due to digital technology, accountants can work through flexible hours. They can also be available beyond the conventional 9 to 5, which can significantly increase their clientele. Check out America's Best Bookkeepers

Tax Filing Errors Reduced Considerably

Tax filing season is challenging for many corporate owners and for their auditors too. The culprit is hastily handled fiscal records. The cloud-based accounting structures do most heavy-lifting themselves, allowing bookkeepers to have a smooth-running tax period. With everything suitably documented, in one place, the chances of accountants misplacing out on or overlooking a chargeable value are significantly decreased, which lets accountants and tax experts to precisely assemble reports and improve the chances of getting tax reductions, owing to the precision in reports.

Innovation in accounting has wholly affected the bookkeeping industry in more ways than we have discussed above. Anybody who has first-hand knowledge and experience working in the cloud will understand that cloud is not just a trend but also a requirement. Big or small, any company that needs to present a technological push in their development without spending a fortune can go for the cloud right away. Not only will accountancy firms and accountants save time, effort, and money, they will also be able to get their work done efficiently and with minimal errors. This will also offer more convenience to their clients, so it is a win-win situation for all.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Accounting Tools - Complete Controller

Small businesses have many aspects to consider when it comes to operations. There is production, sales, time management, staffing, and most crucial of all, accounting. While every aspect of the business is essential to make a business successful, you can have the best product, service, and staff and the highest sales and still fail if your business’s accounting is handled poorly. Check out America's Best Bookkeepers

There are multiple things to consider when it comes to business accounting. There is inventory, supplies, accounts payable and receivable, taxes, financial statements, and if you have employees, payroll. Each small business has different needs when it comes to accounting, and there are a few ways to handle accounting needs. You can hire a professional accountant or bookkeeper or both. You can try to handle bookkeeping yourself with no accounting tools or use accounting tools through online cloud-based services or accounting software. While hiring a pro will always be the best option, not every business can afford the cost of paying them, and trying to wing it on your own can be dangerous to your bottom line. Implementing accounting tools is the most cost-efficient and smart way to handle your accounting needs. Here are a few of the best accounting tools on the market today.

Sage Business Cloud Accounting

Sage Business Cloud Accounting is easy-to-use cloud-hosted accounting and payroll software for small business. It offers graphs and dashboards, and transaction drill-downs that provide you real-time accounting information via the cloud online, available to you or your accounting representative anytime night or day. It works across many platforms and with PCs, Macs, iOS, and Android. It also works excellently with your desktop, tablets, and smart devices. Check out America's Best Bookkeepers

FreshBooks

FreshBooks is a great accounting software meant for solo or freelance business owners. It is a lighter bookkeeping software that tracks time, invoices, business reports, and payments. It is simple to use but does not have anything to deal with payroll or inventory. This is very basic, and if you ever grow your business from a sole proprietorship to a small business with employees, you will need to use different accounting software. It is affordable with a relatively low monthly subscription fee.

QuickBooks

Intuit’s Quickbooks is the best overall accounting software packages for business accounting. At one time, a fully featured software that could only be used with a one-time expensive purchase for your desktop, Quickbooks can now be used through the cloud and a monthly subscription. Quickbooks is also the most popular accounting software, so there are videos with tutorials and online guides. The best reason to use this software for your business is to work well for various companies of all sizes. The cloud makes it similar to the Sage accounting tool in convenience and availability. Check out America's Best Bookkeepers

Xero

Xero is a cloud-first accounting system with over 600 integrations that help business owners with everything from inventory to payroll and much more. This software is more user friendly to Mac users when it comes to cloud-based accounting software. Xero can also track money and time spent on a project to give you the complete cost analysis. Xero is a monthly subscription accounting system; the cost will vary depending on whether you require premium features.

Conclusion

Regardless of your business’s size or business needs, there is an accounting tool that fits your business accounting needs. Whether you use a desktop version of accounting software or use a cloud-based tool, the essential thing is to have accurate accounting for your business. While the product or service you offer may be amazing, if you don’t have accurate accounting, your business is at risk of failure. Do your research on the accounting tools available and choose the best for you and your business.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Accounting Software - Complete Controller

Every business, whether large or small, must have a reliable accounting system. Some businesses will require hiring a professional accountant or bookkeeper, while others may require excellent accounting software. If you are a small business owner and on a budget, accounting software will be essential to efficiently running your company’s finances. Since there is more than one accounting software choice, here are the top six and what they offer to help you decide which is right for your business. Check out America's Best Bookkeepers

Quickbooks

Intuit’s Quickbooks is considered one of the best overall accounting software packages for business accounting. At one time, a fully featured software that could only be used with a one-time expensive purchase for your desktop, Quickbooks can now be used through the cloud and a monthly subscription. Quickbooks is also the most popular accounting software, so there are videos with tutorials and online guides. The best reason to use this software for your business is that it works well for various companies of all sizes.

A few downsides are that Mac users can’t get the full features on the cloud version and that if you have an issue, there are some incorrect answers on Intuit’s Quickbooks forums, which can make it difficult to solve a problem.

Xero

Xero is a cloud-first accounting system with over 600 integrations that help business owners with everything from inventory to payroll and much more. This software is more user friendly to Mac users when it comes to cloud-based accounting software. Xero can also track money and time spent on a project to give you the complete cost analysis. Xero is a monthly subscription accounting system; the cost will vary depending on whether you require premium features. Check out America's Best Bookkeepers

Zoho Books

Zoho Books is a simple accounting software that is user friendly and easy to use. It has integrated dashboards and graphs that keep the usability straightforward and doesn’t require you to be a certified accountant to understand. This software is only suitable for small businesses that don’t have many employees, inventory, or complex needs like larger companies have. It includes some great features like automated payment reminders for accounts payable and accounts receivable. It also has automated and manual features that help with bank accounts, project management, and inventory. This software is a monthly subscription that varies in cost, depending on what features the user needs.

Wave

Wave is free accounting software, and while generally, you need to live by the rule of thumb, “you get what you pay for,” this software is still good for accounting basics. This software allows you to perform bookkeeping functions for both personal and business finances in one place. But remember, it is free, so it does not offer some of the more in-depth features that other paid software has. While most of the basic features are free, Wave does charge for processing payments and payroll services. These services are similar in quality and what it offers as other paid accounting software.

FreshBooks Check out America's Best Bookkeepers

FreshBooks is a great accounting software meant for solo or freelance business owners. It is a light bookkeeping software that means tracking time, invoices, business reports, and payments. It is simple to use but does not have anything to deal with payroll or inventory. This is very basic, and if you ever grow your business from a sole proprietorship to a small business with employees, you will need to use different accounting software. It is affordable with a relatively low monthly subscription fee.

GoDaddy Bookkeeping

GoDaddy is not generally known for accounting, but the company obtained an accounting software company formerly known as Outright. Its features are similar to FreshBooks, but it is excellent for small, individually owned businesses since it has not payroll features. It is the least expensive software on the list (besides Wave, which is free.) GoDaddy Bookkeeping is excellent for tracking time and makes doing quarterly taxes a snap. The most outstanding features are the integrations it has with online sales platforms like eBay, Etsy, and Amazon, so if your business makes a lot of online sales, it is a great choice.

Conclusion

Accounting software can be the key to making sure your small business runs smoothly when it comes to financial tracking. The type of accounting software you choose will depend solely on your needs as a small business owner. Before choosing accounting software, take your time to determine your needs and use this list to help you decide which will be the best fit for you and your business.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Business Finances - Complete Controller

Accounting and bookkeeping are essential tools for keeping business finances in order, but first, there are other issues you need to address as a business owner. The first step to the financial health of your business is to separate business finances from personal ones.

It is a common mistake of a business owner to mix both business and personal finances. It’s natural since, in most cases, the start-up capital, or at least some of it, was from the owner’s personal savings or salary from another source of income. This mix of business and personal finances should be addressed early, and the separation was done as soon as possible. Check out America's Best Bookkeepers

It is impossible to determine the company’s actual profit and losses if you are supplementing the income of the business with personal finances outside of start-up capital. It’s not to say that you can’t use your personal finances to fund the business, but you should be treated as any other investor and should pay yourself back from profits.

Separating the finances is not the only step you should take. It would be best if you also made your business a limited liability company. This simple move will protect your personal finances if your business goes bankrupt, is audited, or has a lawsuit filed against it.

In addition to separating your business and personal finances, here are some other ways you can keep your business finances in order. Check out America's Best Bookkeepers

Get organized

Use a professional accountant or bookkeeper or use accounting and bookkeeping software to keep organized when it comes to your finances. This organization will help you to observe the due dates of invoices for on-time payments. Lack of organization can result in lead to late fees, high-interest payments, or loss of business.

Know Your Fixed and Variable Expenses

Fixed expenses are those you must pay every month, such as water, electricity, telephone, payroll, and taxes. Variable expenses are those costs that aren’t consistent and vary in cost and change or cease to exist. The knowledge of both your fixed and variable expenses will keep your finances in order and make bookkeeping easy and accurate.

Billing Strategy

Many small businesses struggle with finances due to billing issues. Accounts receivable is often a place within a small business where improvement is needed. There are several ways you can address billing issues. You can require the customer to pay in full upfront. In some businesses, demanding payment in full may not be suitable for getting and retaining customers. If that is the case, you can still get more invoices paid by offering customers a 2% discount on the total bill if they pay in full within ten days and make payment in full due within thirty days. These incentives are often used by clients of companies who implement the practice. Check out America's Best Bookkeepers

Track Your Books Closely

If you are working with a bookkeeper, review and monitor your books daily or monthly. This monitoring of the books will help to avoid negative surprises. Knowing your books will help you formulate strategies for increasing profit and lowering expenses, and it can also help identify fraud.  Even if you hire a professional accountant or bookkeeper, you, as the business owner, should always be aware of what is happening when it comes to your business finances.

Make Good Financial Habits

Being aware of your business finances and having a hand, at least to some degree, in your company’s bookkeeping is a great habit to get into, but you can do more. Set aside time every week or month, depending on your business’s volume, to go over your books and to strategize as needed to keep your business finances in order.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Small Business Owners - Complete Controller

When starting a small business and even in later phases of operations, there are mistakes you want to avoid to have a successful business. Knowing what the typical mistakes are for small businesses and how to avoid them will spell profits and success. Here are the common mistakes made by small business owners and some ideas on how to prevent them. Check out America's Best Bookkeepers

No Business Plan

A business plan is a must for every small business before start-up, and every year the business operates. A business plan pinpoints the company’s mission statement, which is the foundation for the rest of the plan. Planning also lays out financial needs, marketing plans, supplies and equipment, projections, and summarizes. These plans are essential for the business owner and potential investors or lenders.

No Market Research

No amount of market research will be too much. The more you know about the market, the more chances of success at both start-up and throughout the business. Market research is essential for pinpointing your target customer. This should be done every few years to ensure there is no shift in your target demographic unless what you sell is specific to the same demographic. Check out America's Best Bookkeepers

Building the Wrong Team

A small business’s success often depends heavily on the supporting staff as it does on the owner. When hiring staff, you must make choices that will work well within the business dynamic and other staff members. It is also vital that the team members have skills to serve your business best and fill the various positions needed for your business type.

No Website

In today’s heavily digital world, not having a website for your small business can be a fatal mistake. Every business needs to be searchable by people who don’t know about your business but may search that will lead them to you. Most small business owners don’t have a site because they think the cost will be too much. However, having a website designed is not as expensive as you think, and there are even sites that you can build your own site for little to no money. However, you make it happen; getting a business website operational from the beginning is crucial.

Lack of Financing

Many small business owners fail to get the proper financing in place before opening. This lack of financing can cause problems that become insurmountable quickly and sink the business. The way to avoid these points back to the business plan. A financial overview of your business can let you know how much financing you need and when to obtain it.

Underpricing Your Products or Services

Some small business owners have difficulty coming up with prices for products and services. The greatest fear is that people will not bring the business to you if it’s priced too high. To deal with this issue, first, do research and set a price comparable to the market. Another rule of thumb to follow is to figure out what the bare minimum is you need to make to pay bills and staff and do what needs to be done in the business and set your prices to match this need. Check out America's Best Bookkeepers

Failing to Invest in Marketing

In today’s digital world, marketing is not as expensive as it used to be. In many cases, marketing is free when using social media platforms to market. If you have the solid foundation of a business plan, marketing, and its costs are built into the plan, there would be no surprises regarding planning and costs.

Ignoring Accounting and Bookkeeping

There are a lot of reasons accounting and bookkeeping needs focus. The main reason you need to focus on accounting and bookkeeping is always to be aware of your business’s financial health. Whether you use a professional (recommended) or use a bookkeeping or accounting software and do it yourself, it is essential to take control of your business’s accounting and bookkeeping.

Conclusion

Starting and running a successful small business is not for the faint of heart. It requires dedication and intelligence. These are common mistakes new or small business owners make. If you know what they are and have a plan, you can avoid these mistakes for your business’s lifespan.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers