4 Accounting Tools Every Small Business Should Consider

Running a small business can be stressful if you’re managing more than one aspect (and let’s face it, what small business owner does only one thing when it comes to growing their company?) 50% of small businesses fail within the first year.

If you’re worried about managing your business and tracking money carefully, it’s important to know what accounting tools you can use to help. If you’re ready to make your life easier, check out these top four picks and see how you can streamline your business.

1. Know That Quickbooks Online Is One of the Best Options

Are you searching for an option that allows you to invoice, pay employees and separate your credits and debits for the business? Quickbooks Online makes it possible to get started right away, with cloud storage to protect your records.

You can choose to allow several individuals to have access, in case you need to outsource the work later on. There are various options in case you’re wanting o upgrade later on as you find your business growing.

Curious how it stacks up to other options? Check out Quickbooks Online vs Xero.

2. Just Starting? Check out SlickPie

If you’re in the beginning stages of your business, it’s understandable that you don’t want to start out with too many bells and whistles. If you need simple software that can invoice, SlickPie allows you to create your own customized invoices or use a pre-made one.

Other benefits include billing management and the opportunity to use tax management services. It can give you an idea of where you are in your business and what you’ll need to utilize.

You can select features such as late payment reminders and credit card processing, to name a few.

3. Looking for Accounting Tools to Make Payroll Easy: Choose WagePoint

Paying employees is a crucial part of business, but it can be difficult to keep track of everything without a system in place. Wagepoint allows you to create pay stubs and organize W-2 and 1099 forms for tax season.

You can even handle direct deposits and take a look at end-of-year reporting, making it your one-stop accounting tool when handling payments.

4. Keep Copies of All Receipts with Neat

If you have receipts or other documents you don’t want to lose, it’s understandable you’ll want to make copies for the benefit of your business. Thankfully there’s a better way to manage than keeping hard copies in a file cabinet.

Thanks to Neat, you can use a scanner or smartphone to take pictures of these documents and keep careful records. It integrates with the rest of the software, making it easy to add or delete items as needed, and even share them with others.

Keeping careful records can help save money and ensure you’re not making unnecessary purchases.

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While running a small business can seem tricky, you’ll find the most basic problems avoidable when you know what accounting tools to take advantage of. This can help streamline your day and cut down on busy work, ensuring company success.

Curious on how to set up payroll on your own? Check out our post here for more information.