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20 May 2016
3 Online Accounting Software Selections for Small Business

As cloud-computing gains in popularity, the availability of online accounting software is growing. Many small business owners want a software which has an intuitive and easy-to-use interface that lets them bill customers, enter expenses and check their bank balances,. We want to be able to access everywhere (you never know when the need to do your accounting, strikes!) I have looked over 3 cost effective, multi functional alternatives below:

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Quickbooks Online: The essential version, at $9.95 per month, provides you will the opportunity to track your invoices and expenses, including sales taxes, also to see where you stand regarding your payables and receivables. It also lets you customize and create invoices, and supplies many reporting options. You can handle your account from whether Windows or Mac platform along with your iPhone and BlackBerry. Only 1 user can login at a time (+ your accountant). There aren't any limits on the variety of the customers or transactions.

Upgrading to $34.95 each month gives you a host of other functions including inventory tracking, automated banking (which lets you download your bank transactions to your QB file), time tracking, industry comparisons and three simultaneous user access.

Payroll and charge card processing are available as add-ons and have to be purchased separately.

Either version allows a totally free trial and can be cancelled whenever you want.

Xero: Although the company is based in New Zealand, small businesses anywhere may use the software. The functionality resembles Quickbooks except that he plan price differential is a lot smaller with Xero. The small plan at $19 a month allows for 5 customer and vendor transactions and 20 bank transactions per month which could be problematic for everyone who has more than 5 customers or clients. The medium and large plans at $29 and $39 per month, by comparison, allow for unlimited transactions. Also, unlike Quickbooks, Xero allows unlimited users for all it's plans while offering a multicurrency feature.

Clarity Accounting: For small enterprises whose need to track invoices, expenses, payables, receivables and bank balances, this seems like the ideal solution. For $10 a month, an individual can enter unlimited transactions, create invoices, enter expenses, create financial reports and download their bank statements. User access is unlimited, and they support multicurrency transactions.

Clarity notably lacks a smartphone app plus a payroll add on feature, which can be tedious if you have employees.

The 3 options provide a similar service, by incorporating noteworthy differences. Quickbooks offers payroll, credit card add-ons as well as inventory tracking making use of their plus version, but does not allow for unlimited users or multicurrency transactions. Xero's medium plan (the little plan seems a little unrealistic for most smaller businesses) supports multicurrency and unlimited transactions, but is really a twice as expensive as Quickbooks basic plan. Clarity is definitely an cost effective choice other than it does not support payroll or have an accompanying smartphone app. The selection, of course will depend on your requirements what you are willing to spend. All versions supply a free trial, so it is absolutely worthwhile to try them out and assess which one you are most comfortable with.

Xero add ons CRM


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