Here's How you Uplift your Accounting Game in 2020

By  Maham on



2020 has been a nightmare for small businesses. Talk about the economic hit that blew away multi-billionaire businesses. It was more or less like survival of the fittest. There’s always been a need to track expenses and manage reports. The right budget software does it all for you. Once you have the right tools, accounting is all fun and games. All you need is a small budgeting software to get it all sorted. Let’s start off with some of the best budgeting software in the market. Take a look at the following options for your business:

1- Quickbooks Online

You’ll fall in love with Quickbooks due to its amazing reporting capabilities. If you’re a small business, it’s really easy to customize the reports as per your flavour and liking. What aspects of your monetary value do you prefer? Is it the cash flow you’re worried about, or are you worried about paying your taxes on time? Picking up the right accounting tools helps you decide it all. If you’re a Quickbook owner, it helps you out with invoicing and payments, tracking sales and tax, capturing and organizing receipts, and running standard reports.

Budgeting software is used to manage, track and report monetary expenses. Talk about understanding cash, cash out. This helps you access what profits and losses your business went through. There is individual budget software that is pocket friendly and meets all your requirements. There’s a lot that goes into making the perfect software. Pricing, user experience, accounting tools that help you simplify decision making are some of the most important considerations used to access the importance of any accounting software. 

2- Xero

Xero is the ideal choice because it offers the best cloud-based solutions. Having Xero has its own advantages. You get to manage finances, keep a track of your cash flow, invoices, and budgets in one place. Xero’s expense and budgeting modules really help you out with other advanced features for expense and project management modules. All these are useful for budgeting purposes. In addition to your current plan, an add on of an additional $30 offers unlimited invoices, quotes, and bills. Some of the pros include excellent integration abilities, relative affordability, accessible user interface, great customer service, and a long list of users. What are the other reporting options you ask? Unfortunately, this one doesn’t really offer other reporting features. It’s not ideal for larger businesses.

3- Freshbooks

If you’re running on a budget, Freshbooks is another well-known budgeting option mainly for small and mediums sized businesses. Create and view estimates during budgeting. Freshbooks allows you to control your budget effectively with its expense tracking system. Talk about handling complex budget planning. If you’re someone willing to explore different versions of one software, Freshbooks is the way to go. The best part about Freshbooks is that it’s really easy to integrate it with other web services. Talk about sophisticated reporting, easy navigation, and extremely easy invoice creation. If you’re willing to add other team members, remember that it gets a little expensive. One of the downsides of Freshbooks is that it doesn’t allow complex budgeting.

4- Plan Guru

PlanGuru is the best budget software known for its scalability. Plan Guru accommodates you whether you’re looking for a high-end budget or a small business budget. The best part of the software is that it's very easy to integrate with Excel, Quickbooks, and Xero. If you’re looking for integrated balance sheets, income statements, and cash flow statements, Plan Guru is one software you must consider for your small business. Talk about strong product support, additional analytical tools and great cash flow statements at your end.

If you’re looking forward to satisfying your customers to the fullest, use any of this accounting software to make sure all your account matters are sorted out. Talk about looking into your insights on a daily, weekly, and monthly basis. The float will let the customers know about the cash surplus. If you need some help with your accounting or taking long term decisions, get guys at Accotax onboard. We help you stand out like a pro in the competitive market.

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Maham is the strategic digital marketing manager for Accotax. She’s into politics, current affairs, food photography, and a lot of adventure. She tweets @mahamiee.

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