I’ve often heard people ask if accounting softwares are necessary for small businesses. It is almost like these people leave the important parts of business and consider them things done by the very big brands. The truth is, without proper accounting, I don’t see how you are going to become a big brand at all.
Your accounting data should always be the first point of call when making important financial decisions. By important, I mean ALL. That is where you get an insight into where your money is going, how productive your expenses are and what you can cut back on.
In fact, having a good account could be the difference between your getting an angel investor to dole out some cash or not at all.
If all these interests you, then you are ready to find out what our picks of the best accounting software for your small business this year are.
1. Sage One Accounting
Sage One has already made a name for itself in the accounting and accounting software department, going on to serve no less than 3 million different businesses worldwide. With such an impressive portfolio, you should know that they are doing something right.
With the Sage One Accounting platform, you can perform so much more tasks than organising basic accounting ledgers. You can go on to take advantage of the payroll feature, use the invoicing section and even get numerous training materials to get you started.
With the different packages starting from about ₦2900 a month, you get to try out the platform for free for a one-month period after which we are sure you would have been glued already.
Probably the best thing about the platform is its availability across multiple platforms. Since you can use it on either of Windows, Apple (Mac and iOS) or Android devices, you can stay connected to your figures anywhere you are in the world
Where QuickBooks excels the most is in the way it keeps track of all the money coming in and going out of your business. That way, you can determine what luxurious spending you should cut and what channels to pump more money in.
Even better is the way QuickBooks generates needed analytics for you based on data you import into the system. Just get your vouchers and invoices, load them onto the platform and you get dynamic reports in a matter of minutes
We would not have had an honest review of the best accounting software for your small business if we did not mention SAP. Short for System, Application and Products, this accounting software has gone on to establish itself as the fourth largest in the world.
The beauty of SAP is that it can be thoroughly customised – with codes and social departmental designations – to fit a specific company. It is even better in the sense that it allows you account for not only money but physical goods too.
Keeping inventory, raising product orders and reservations and managing/ manipulating stock are just some areas where SAP finds application in the industrial sphere. For a well-rounded accounting software, this delivers everytime
With an incredible interface and greater tools to match, NetSuite is the accounting software to go for when you have a rapidly advancing small business. The application has all it takes to handle the complexities involved with the day-to-day running of a business, the growth that comes with that and handling report generation for future decisions.
One of the things consumers of this software love the most is the way it provides them with real-time visibility of what is happening across the organisation, helping to make faster decisions on the spot.
For those that love cloud-based solutions, here is one that will make your day. Asides promising to keep your cash inflows and outflows intact, Intacct also offers a slew of other features that lie deep within the system – contract management, fund and project accounting, inventory management, financial reporting and consolidation, and so much more.
It works based on the internet to ensure everyone in the organisation gets updated in real time as things are happening in other sections and keeps all of your information backed up on a secure, dedicated cloud server.
Talk about great accounting, security of your funds and protection of your valuable money date, and you have Intact.
Again, don’t wait till the business is very big before you start accounting. If your business can survive the small scale without proper accounting, you are setting it up for a great failure in the medium and large-scale markets.
If you haven’t started yet, there is good news for you – the best time to start is now.
If you would be taking one of these small business accounting software, lets know which one of them catches your fancy the most.