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Small Business Accounting Software - Which one is the Best?

Accounting is an important function in every business enterprise. But accounting involves a lot of time and energy. Accounting software is meant for making the accounting tasks simpler and prompt. Quick Books and NetSuite are among the most extensively used accounting software for small businesses. A few other software like Xero, Fresh Books etc. are also used for this purpose.

A brief overview of the most popular small business accounting software has been offered:

QuickBooks - Quick Books is considered a reliable option by most of the business enterprises due to its feature-loaded accounting system and follows the latest industry standards. The various advantages of using Quick Books for small business are:

  • Proper Money Management - Quick Books offers excellent features for managing money. Due dates and payment information can be easily entered. Checks can be printed easily and the bank accounts can be linked to the program. All the monetary information can be viewed on single screen. No paper bank statements will be required.

  • Useful in expense billing - All the expenses incurred while dealing with clients whether big or small are recorded properly. So a lot of time which would have been wasted while reconciling them manually will be saved.

  • Sales Invoicing - The receipts and invoices can be prepared and sent to clients through email. Multiple clients can be easily billed at the same time by using Quick Books.

  • Easy creation of reports - All the financial reports related to income, expenses and future forecasts can be easily created. The reports can be exported in to Microsoft Excel spreadsheet format and dispatched through email.

  • Easy to use - Quick Books is easy to use and doesn’t require any formal training. Most of the functions can be easily performed by just clicking a button.

NetSuite - This software is based on cloud computing and electronic commerce. It offers various important features like sales force automation, sales team tracking, revenue estimation, reporting and e-commerce administration etc. The various benefits of using NetSuite for small business have been listed below:

  • Cost effective - NetSuite offers various subscriptions starting from $40. So business organizations can choose the suitable option as per their requirement. This flexibility in terms of cost is an advantage for commercial ventures.

  • Helps in reducing paper work - With NetSuite access to the real figures can be gained easily and the requirement for paper work is reduced. Sales ordering can be performed with just a simple click.

  • Accuracy - NetSuite maintains data in an accurate manner Moreover data can be easily shared among the concerned people.

  • Data management - NetSuite offers complete security of data. Even in cases of natural disasters, the data will remain safe. Multiple modules enable proper allocation of data to various concerned departments.

Overall QuickBooks offers more features than other accounting software and is used more extensively.

Cogneesol has emerged as among the best providers of outsource finance and accounting services to global insurance agencies. Over the past eight years, it has earned the goodwill of its clients. More information can be gathered from info@cogneesol.com or +16466882821.

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