Ease the Stress. Use these Apps for Your Small Business Accounting.
Have you seen this ad?
I mean, funny is good, but there are lessons to take home; you can’t get stuck in your old ways when there are newer more productive ways that respect your time and effort. Somewhere in the ad, it says “Life Evolves, you should too” the same goes for business, and we are here to tell you.
We just published a profitability checklist for entrepreneurs, in it, we talked about easing the stress that comes with accounting for your small business. If you have not gotten your copy, it's free, get it here. That is what this post is about. We have put together a list of packages to help you achieve this. Most of them have mobile applications so you can do all your accounting on the go.
- Wave Accounting: Wave is a free online accounting software that helps you create and send invoices to your customers or clients; track your bank or card transactions, record expenses, remind you of bills to be paid and clients that owe you. It also generates your accounting reports. If you need a full accounting package at no cost, Wave is just right for you.
- Expensify: Expensify says “you are not born to do expenses” so it helps you to capture your expenses and create reports based on your total expenses in a period. It comes with a scan option that lets you take the picture of a receipt through your mobile phone and uploads it to your accounting records or send them to your accountant. It also creates reports based on your expenses and receipts, you also have the option to approve or reject the report.
- Intuit Quickbooks: Quickbooks boasts of “Smarter business tools for the world’s hardest workers.” It is another full accounting package that helps you to manage and pay bills, generate sales quotes, create and send invoices to customers or clients, manage sales tax, manage and track inventory and projects. Of course, it generates your financial reports for the period and comes with a mobile app. Quickbooks secures your data and comes at a charge of about $199/yr depending on what features you choose.
- Sage One: Sage has been around for a while. Recently, they created packages for Small businesses customized to fit different countries. Sage helps to record your sales and purchases, create a payroll system for how to pay your employees, create and send invoices to your clients and even taxes. It can also help you find an accountant in your area. The pricing varies depending on what features you choose to add but a basic accounting plan will set you back about N6,050/month or N50,000 every year for businesses in Nigeria.
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5. Zoho: Zoho is as hip as they come, quite functional too. It offers almost all accounting features. Whether it’s tracking expenses, sending invoices, automatic banking, collaborating with your clients, tracking your inventory, projects and time sheets or reporting, Zoho has you covered. Prices range from $9 to $29 every month or $90 to $290 every year depending on what plans you want for your business.
6. Xero: Xero products help you with creating and sending invoices, paying bills, performing transactions with different currencies and tracking your expenses and projects. You can also do some payroll accounting at an extra cost. Prices range from $7 to $15 per month.
7. Kashoo: Kashoo helps to create and send invoices and create reports based on these records. it also lets you make and receive payments online. Using this package costs about $19.95 per month.
To help you decide, we have gone the extra mile to create a table so you can compare features and pricing of the packages. If you still can’t decide which works best for your business, talk to us at Triift Africa, we are willing to help. Many of the packages have a Trial Version to help you decide if they work for your business.
