As far as business is concerned, there is almost no aspect that has remained unaffected by computing. This is especially true when it comes to accounting and finance systems. This article will help explain what small business payroll software and online payroll services are and where they come in.
Whether you are a small business just getting started or you have been in business for a while and put your accounting on a computer, you are in luck. Not only are there numerous software packages as well as online payroll services super helpful, they’re also easy to use. Regardless of whether you are an experienced computer user or your only experience with accounting is manual you won’t have issues with this software.
Everything You Want and Need
There are several small business payroll software programs that will allow you to do everything you need. On the other hand, there are some programs that are much more robust that can tackle nearly any accounting function that you can throw at it, including:
* Accounts receivable: Receipts that you receive from your customers.
* Accounts payable: Money that is owed by you to suppliers, vendors, and others.
* General ledger: The summary of all the business transactions of your business.
As anyone who is familiar with accounting systems knows, business computer systems can be all-inclusive when it comes to providing all of the financial record-keeping functions of a business. This includes stock/inventory management, multi-user access, POP equipment, financial forecasting, all leading to the completion of final reports and financial statements.
Another question that is often thought of by those looking for a small business payroll software program is expandability. Whether you are a small business or you have been in business for a while, you are probably looking towards growth in the future. A good accounting program will allow you to expand your system to include wherever you are as well as where you want to be in the future.
This article will serve as your introduction to the top seven best small business payroll software programs available.
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1. Sage One
If you’re looking for a basic, inexpensive cloud-based accounting software package, Sage One is generally considered to be the standard for small business owners and managers. It is a very powerful software system for all of the basic accounting functions. This includes income and expense tracking that might be encountered by entrepreneurs and small businesses. This package does not include features such as the creation of purchase orders, payroll, or time billing. Its reporting ability is minimal.
Sage One also offers you the ability to stay on the go with mobile apps for Android and Apple devices. This online functionality is great since it allows you to always be up to date and keep you from worrying about the need to back up your data.
Other Sage One features include:
· Vendor and customer management
· Project tracking
· Task management
· Expense tracking and income reporting
· Ability to accept online payments
· Cash flow management
· Create and send online invoices
· Link with more than 12,000 financial institutions
· Multi-user abilities
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2. FreshBooks Cloud Accounting
FreshBooks is another online system that is inexpensive and easy to use. It is also known to do a great job of basic bookkeeping and invoicing for independent contractors and small businesses. FreshBooks is another system that can be used with web browsers as well as your mobile devices, including Android apps.
FreshBooks offers a three 30-day trial. After this time you can choose one of four monthly plans that best fits your needs. This depends, for the most part, on the number of users in your company and the number of clients you have. Getting started with FreshBooks is also very easy. All you have to do is to fill in the basic information about your business on their website and you are ready to go.
FreshBooks, it must be admitted, is not a full bookkeeping system. It is more accurately designed for expense and time tracking, invoicing, and other function, but not full charge bookkeeping.
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3. Zoho Books
Zoho Books is another accounting package that is subscription-based and very applicable to small businesses. It does practically everything except payroll and does not integrate with third party small business payroll services.
Zoho Books does work with all the major browsers and apps for Android, and Apple products.
There are three Zoho packages, each with its own functions and payment options. Zoho also offers a free trial.
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4. Intuit QuickBooks Accounting Software
For years, Intuit has been the standard of accounting software. Not only is it easy to use, but it comes with a whole host of functions. Both the online and desktop versions have a huge following. QuickBooks also offers three versions of different tools, reports, and analytics.
QuickBooks offers excellent income and expense tracking, invoicing and linking to financial institutions. Multi-user versions are available. For an additional charge, patrons can add payroll functionality to the program.
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5. Sage 50 Accounting
A full-scale accounting system for small businesses, Sage 50 Accounting is another tried and tested. Sage 50 Accounting is only available for Canadian users. Payroll functions are available at a significant additional fee.
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6. Xero
Xero is another online based system that is available in a comprehensive accounting program primarily designed for small and medium-sized businesses. You can also use it with your Android and Apple systems.
There are three packages available, each with their own price and features. Xero also offers a 30-day free trial.
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7. AccountEdge Pro Accounting Software
If you are looking for a good, general-use Swiss Army Knife of accounting software, AccountEdge is for you. It does nearly everything, and quite effectively. It is very comprehensive.
You can use AccountEdge with Mac or PCs, and even online. You can not only handle all of your accounting needs with AccountEDge, but you can even move your statements and other accounting information between your other computer programs.
When you bill for your time, you can even charge different rates for different projects. There are even more than 200 customizable financial statements for your use.
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Posted on May 18, 2023