Many accounting software solutions are more similar than different in terms of features. Standard modules include general ledger management, invoicing, and payment processing.
So aside from key features, when choosing the best accounting software for small business in 2017 consider these other aspects: ease of use; compatibility and integration; and security. More importantly, you should prefer a cloud based software SaaS model if you’re a small player.
SaaS accounting gives you flexibility like customizing processes, integrating third-party apps, and scaling pricing based on your current needs. As SaaS cloud based software solutions drive the whole cloud service industry to a $244 billion total value this year (Gartner), the features are getting more robust, sophisticated, yet easier to deploy and use more than ever.
In particular, SaaS accounting solutions are helpful to small businesses in times of regulatory upheavals. For instance, when the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) finalize a new standard on revenue from contracts with customers, many accounting systems have to be updated to match the new set of standards. If you’re using a cloud solution, the system upgrade is taken care by the vendor.
In this article, let’s compare five top accounting software that are most useful for small business, which includes freelancers, consultants, micro-enterprises, and fairly established small companies. We’ll also include reliable inexpensive and even free solutions for companies with a limited budget for their bookkeeping and accounting needs.
If you’re instead interested in solutions more suitable for large companies you may want to check out our list of top 5 accounting software for enterprises.
Article Tag: Accounting Software, Antivirus Software