Small businesses often require help with different professional services, as there tends to be an excessive burden on small business owners to complete a multitude of tasks themselves. As such, any reduction in this administrative strain can result in increased business efficiency. One primary area where entrepreneurs often require help is financial account management. Unfortunately, a number of new entrepreneurs have little knowledge of professional accounting measures. Recording, analyzing, classifying, summarizing and reporting one's business finances are all technical tasks that require some knowledge.
Thankfully, using dedicated small business services in this regard can help the entrepreneur. Here, we will consider the top 3 small business services for accounting in the following order:
The best thing about this service is its minimal cost. You can start their subscription at only $8 per month, a price, a small scale entrepreneur can often afford to pay. Similarly, this small scale business service allows for massive integration opportunities, giving you the option to connect your PayPal, Square or Shopify account with Intuit QuickBooks Online software.
Additionally, you may purchase one of their more advanced packages, which offer multiple features like tools for tracking income and expenses automatically.
The QuickBooks software offers an all in one solution for customer relationship management as well allowing you to send formal invoices in a single click. Also, the automatic report generation feature occurs for any payment you receive from your customers.
It offers more advanced taxes and sales tracking than manual methods. This means that if you purchase the advanced package, you get their complete business management solution. In this version, you can calculate payrolls, keep track of team members and even track project timings.
However, QuickBooks may require some time invested to fully understand initially. As it may be difficult for the entrepreneur to keep up with the various notifications. Alternatively, using the mobile version of the software can resolve this issue. Lastly, if the business owner faces any hindrances to their user experience, they can easily get access to their customer support team via the chat support option available. The team are available 24/7.
Coming in at a slightly higher starting price tag, is FreshBooks’ small business services costing the entrepreneur a moderate $15 per month. Their basic package has a lot more features in comparison to QuickBooks, allowing the small scale entrepreneur to send out invoices and receive income. This software also allows for a subscription model accounting system, meaning the recurring subscriptions feature is perfect any subscription-based business like a gym or club.
FreshBooks offers a unique feature to keep track of your customer’s payments. Whenever a customer opens an invoice, the entrepreneur receives a notification regarding this activity. This tool certainly resolves the issue of debtors suggesting they never received the invoice. Additionally, FreshBooks offers perfect integration with multiple other business services. These services relate to both accounting and other business areas. Finally, the product allows you to create regular backups for your data, meaning your data is safest with FreshBooks and is recoverable in case of any mishaps or accidents.
The only issue worth noting with FreshBooks is the price as the business grows. It can become considerably pricey to use this software if the number of customers exceeds 500. Although a small business owner may use it initially, it may not suit a growing business's requirements in the long run.
At an affordable price-tag of $ 9 per month, Pabbly is one of the reasonable choices for small and medium-sized business organizations. The software offers you a wide variety of business management tools in its basic package, including financial account management. It provides a PCI Compliant billing platform that integrates with over 23 different gateways. This means, you can have PayPal and Stripe to attached to your Pabbly dashboard. Additionally, it automates most of the processes of management and calculates your active subscriptions, new subscriptions, invoices and monthly business metrics automatically.
As a result, this leaves more time for the entrepreneur to focus on other aspects of the business, like growth. Pabbly offers comprehensive small business services that the user can integrate into the software's main dashboard area. While the company is relative new in this space, they provide an all-in-one solution.
Conclusion
As an entrepreneur, the final choice rests you, based on your business support needs. However, do consider the above three software during you product research. They are inexpensive, easy to use, and can automate your business’s management and accounting. Let us know what you think about them!