Best Online Accounting Software for Small Business Owners

Small Business
on March 12, 2013

Online accounting software allows you to manage your accounting system from any computer that has Internet access. Most of these programs also provide a free trial of their software and provide special access for mobile devices. (However, there is always the possibility of losing your Internet access.)

FreshBooks

This cloud-based application lets users create invoices, accept online payments (such as credit cards and PayPal), import and code bank and credit card transactions, and track time.

Website: www.freshbooks.com

Intuit QuickBooks Online

They have several versions to provide whatever features you need. All versions also allow access to your accountant. The Simple Start version lets a single user create invoices, pay bills, manage expenses, and produce reports. The Essentials version provides access for three users and adds advanced reporting, multiple sales taxes, and other features. The Plus version provides access for five users and adds inventory, purchase orders, and other features. The Essentials & Payroll version adds payroll and payroll taxes to the Essentials version. The Plus & Payroll version adds payroll and payroll taxes to the Plus version.

Website: www.quickbooksonline.com

Outright

This application is designed for a single-person small business. It will organize your income and expenses into the categories needed for the preparation of Schedule C of the US income tax Form 1040. This application eliminates most of the tedious data entry you would otherwise need. This is accomplished by having you link your various business accounts to your accounting system on the Outright site. These business accounts include your banks, credit cards, PayPal, eBay, Amazon, and any other online source of income, expenses, and other transactions.

Website: www.outright.com

SageOne

This cloud-based application provides accounting, project management, and contact management capabilities. The accounting section lets users create invoices, accept online payments (such as credit cards and PayPal), record payroll information, and perform other accounting functions.

Website http://www.na.sageone.com

Xero

This cloud-based application allows unlimited users. It lets users create invoices, accept online payments (such as credit cards and PayPal), pay bills, reconcile bank statements, import and code bank transactions, and schedule invoices and bill payments. It also includes payroll, fixed assets, budget, and reporting functions. You can integrate this application with outside payroll, inventory, point-of-sale, and other providers.

Website: www.xero.com

Found in: Small Business
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