Choosing your small business accounting software
If you are a self-publishing author, content marketer, book cover designer, affiliate marketer or you are earning money from blogging, you are in business.
You run your business and have to send invoices, make and accept payments by PayPal or credit card and send payment reminders.
Like most small businesses, you want a simple solution for basic bookkeeping, expense tracking and accounts payable.
You probably don’t need balance sheets and profit and loss statements, inventory management, cash flow or complicated sales tax returns.
You just want to stay on top of your business and save time with a simple accounting solution for your tax records.
There are a lot of options available now for premium and free accounting packages.
You can choose open source software for Mac Os, Windows or Linux, cloud-based accounting, web-based online accounting or proprietary software.
Here are some of the most popular choices for independents.
Freshbooks is now one of the most popular accounting solutions for small businesses.
It is a premium cloud accounting solution that has everything you could possibly need to manage and track your business.
Because it is simple and intuitive, you don’t need to be a wizard at accounting to get started. All you need is an Internet connection or mobile app, and you are ready to get to work.
You can integrate your invoices to a whole host of credit card and payment options such as Stripe and Paypal.
You can also connect to financial institutions such as your bank accounts and credit cards.
Freshbooks works and syncs on mobile devices with iOS and Android apps so you can manage accounts on the go.
Wave is an (almost) free solution for keeping your accounts.
It has a slick and easy to understand interface for all your invoicing and record keeping.
Why it is almost free, is that you only pay transaction fees. The fees are calculated at 2.9% plus $0.30 for each transaction.
If you can live with that, it is a viable, nearly free accounting solution.
GNUCash has been around for a long time.
It is a completely free solution because it is open source.
You do need to know a little about basic accounting because GNUCash is a true double entry accounting system.
GNUCash is available for download for Mac OS X, Microsoft Windows and Linux.
4. Money Manager EX
Money Manager EX is another free open source choice.
It is easy to use with a logical interface and menu bar.
For a free bookkeeping solution, it is well worth trying to see if it works for you.
5. Other Options
There are a lot of free and premium accounting solutions available. Here are a few more choices that you might consider.
TurboCASH – Free and premium.
Moneydance – Premium. 30 days free trial available.
xTuple Postbooks – Premium. Free trial available.
Quickbooks Online – Premium. Variable monthly pricing.
Finding the right accounting or bookkeeping solution will depend on your needs. You will definitely want to track your income and expenses and keep a record for tax purposes.
If you have a little knowledge of basic accounting, then a free open source double-entry accounting system might be the right choice for you.
However, if you want a simple solution to send and track invoices and receive payments, then one of the online premium packages could be the best choice.
The best way to find the right solution for you is to do your research and try a few to see if one will do everything you need.