Do Your Business Really Need Accounting Software?

Accounting software is a type of computer software used by accounting professionals to manage accounts and perform accounting operations. The term accounting refers to the systematic practice, the process of communicating and recording financial information. Accounting also includes systematic and diverse measurement, classification, verification, summation, interpretation of financial information. Top accounting software ranges from single entry programs used for individual record keeping to double entry systems that process accounts receivable, accounts payable, other functions.

The most commonly asked question on ccounting software is ‘Do your business really need accounting tool? and the answer to this question is Yes! It works is prepare day to day transactions of a business and to ascertain the financial position of the business. It is not needed to those firms which are too small, But a small, medium and large-scale firms do need an accounting software. There are many accounting systems in the market and it’s very difficult to choose the correct software for your business.

LIST OF ACCOUNTING SYSTEM TOOLS

1. QUICKBOOKS
2. MICROSOFT DYNAMICS GP
3. GNUCASH
4. POST BOOKS
5. PROFIT BOOKS
6. FRESHBOOKS
7. ZOHO BOOKS
8. XERO

ACCOUNTING SOFTWARE FOR BUSINESS

QUICKBOOKS:- QuickBooks is an accounting tool package developed and marketed by intuit. The features of QuickBooks are cloud accounting, expense tracking, invoicing, accounting reports, cash flow management, accountant access, data security, automatic backups and also free unlimited support.

ZOHOBOOKS:- Zoho is an online accounting tool to manage your accounting, inventory and to file your GST returns with ease. It conducts workshops to understand the software more easily. It contains similar features as QuickBooks.

XERO:- Xero is a New Zealand based software company that develops cloud-based accounting for small and medium-sized businesses . in January 2015, Xero has been crowned best accounting tool in the clouds wave awards with a score of 83. The key features of Xero include automatic bank and credit card account feed. Xero also supports multiple tax rates and currencies.

FRESHBOOKS :- Freshbooks is a cloud-based accounting system designed for owners of the small client service businesses that send invoices to clients and get paid for their time and expertise. Freshbooks serves to pay customers in over 120 countries.

BEST BUSINESS ACCOUNTING SOFTWARE

As it was said earlier, there is a list of accounting software in the market and to choose one among all those depends on the type of business you choose.

Reference: https://medium.com/@Lilly_James_/do-your-business-really-need-accounting-software-856bf4171870