Using spreadsheets when doing accounts no longer works for businesses today. You won’t get live cash flow numbers or details that accounting needs from spreadsheets. A better option for businesses is Zoho Books that is a cloud-based solution that can generate invoices and reminders, provide current stock numbers, import bank statements into the system and automatically categorize them.
It is important for a business to use a bookkeeping application in handling all the subtle aspects of number crunching and will provide timely warnings if there are financial difficulties. There are tools that can interface with payroll systems to pay employees and contractors, process payments electronically in a retail setting and host critical money management tasks.
One of the best accounting software is Zoho Books that can be used by online retailers and stock and service-based businesses. Critical data can be inputted into the software to generate profit and loss statements, balance sheets and other reports. Zoho has also developed mobile apps that allow business owners to send quotes, review projects and gain an overview of critical financials while away from the office.
Another bookkeeping solution is Intuit’s QuickBooks that has all the features that a business may need. It can invoice, project cash flow, track mileage, run payroll or complete the financial parts of tax returns in some regions. There are no limits to transactions and invoices. Apple or Android phones can be used to snap and store receipts. It can even interface with PayPal.
FreshBooks is an online accounting solution that offers accessibility, flexibility and affordability to sole proprietors and small businesses. FreshBooks is different from Zoho Books and Xero because team collaboration is an important part of its design. This capability allows a sales team to focus on their task while those managing cash flow will be aware of new business as it happens.
If you are looking for a suite of tools for your accounting needs, your best option is Zoho Books that can help manage workflows, generate sales, create reports, track expenses and many more accounting tasks. The cost of Zoho Books is very modest and can be offset by the amount of time savings that the business owner will enjoy.