Since starting my own small business, I’ve been looking for software that would allow me to manage my business finances quickly and easily. Searching the Internet, I found there are quite a few software packages that allow this. Here are a few packages I’ve found:
- Simply Accounting by Sage – Starts at $50 (60 day free trial)
- WorkingPoint.com – Free for the first user, unlimited use.
- QuickBooks by Intuit – Free to manage up to 20 customers (Full functionality starts at $100)
- QuickBooks Online by Intuit – Free to manage up to 20 customers (Full functionality starts at $10/month)
- Outright.com – $10/month, with options to integrate with other websites to add functionality.
- Of particular interest, I’d recommend this for its ability to integrate with Freshbooks – a free online service for electronic invoicing, client and expense tracking, and estimate creation.
UPDATE (9/30/2010): In doing some research for a client, I’ve found quite a few new cloud-based solutions which can help with your small business accounting. Some newer solutions are also integrated with Google Apps. Check out my recent write-up on Cloud-based apps for a Vacation Rental business.
From what I have gathered in my own quest for a solution, it appears that your best option is really dependant upon what you want:
- Simply Accounting gives you roughly the same functionality as QuickBooks at a cheaper price.
- WorkingPoint is for folks that want the basics in an easy-to-use interface.
- QuickBooks (Desktop) has all the bells and whistles, while QuickBooks Online gives you anywhere access with the ability to use a few of the options you’d find in the desktop (Payroll and Merchant add-ins)
- Outright.com is for folks that are focused on maximizing their deductions. It has a number of links to other websites that are specific to receipt and expense tracking.
NOTE: I also looked at the QuickBooks Online website and found a worthwhile nugget. It appears that an export from QuickBooks Online to the desktop install of QuickBooks isn’t reliable. Intuit gives a clear warning that the export may not covert everything intact.
In my own quest for the best software, I am going to try my hand with WorkingPoint. I have always been one to forge ahead with the new stuff, so it will be interesting to see how this works as I get the business up and running. However, if you’re looking for software that is more industry-standard, stick with QuickBooks. Additionally, QuickBooks also has an online payroll feature: Check out Intuit Online Payroll – 30 day FREE trial + lock in the discounted rate of $9.99/month for the first 2 months.
*UPDATE*: Quicken is releasing a newly updated version of Quickbooks: Quickbooks 2010. Hit the link to review the new features!
If you would like help setting up any of the above software or exploring its features, feel free to Contact Me!
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Really interesting article, i would also recommend KPI as a great alternative, http://www.kpi.com
I have recently had a few problems finding the ideal software to help me manage my business. However, I was recently contacted by a friend who suggested to me to try the Workforce Track website. After I started browsing with the Free Trial tool, within the same day I felt that I had mastered how to use this software. I recommend Workforce Track as the most easy-to-use, cost-effecient software I have tried so far.