Cloud-Based Accounting Software For Businesses – 3 Best Options For Your Reference

For small company owners who don’t have a background in accounting, FreshBooks is an intuitive, simple-to-use accounting program. It makes it simple for users to manage projects, produce invoices, keep track of time and costs, track loans, and submit taxes. It may be accessed on any device because it is a cloud-based platform.

To benefit small firms and solopreneurs in receiving payments more quickly, FreshBooks was first designed as an invoice generating and monitoring initiative. Nearly 20 years after it was developed, accounting software is still primarily concerned with assisting business owners in receiving timely and correct payments. Clients may easily pay how they choose with the help of features like regular invoices, automated payment reminders, and online payments.

FreshBooks has four different options, the Lite plan being the most affordable at $17 per month ($6.80 with the current price). With this subscription, users may manage unlimited costs, make unlimited estimates, track sales tax, and take credit card payments in addition to sending unlimited invoices to a maximum of five clients.

Features include double-entry reports on accounting, mobile mileage tracking, accounting and financial reports, the ability to manage bills, bill payments, and suppliers with accounts payable, the ability to measure project profitability, and more are made available with each subsequent plan.

Zoho Books – Cloud-based accounting software for businesses

The cloud-based accounting feature of a bigger set of business solution solutions is called Zoho Books. Zoho offers more than 40 enterprise-level web tools in addition to accounting software to increase sales, advertise your business, collaborate with team members, deliver customer care, and more. It will be difficult to find a more complete business suite for organizations that require an integrated business environment.

Users of Zoho may generate a range of business reports, issue personalized invoices, connect to payment channels, manage spending, and compute taxes. The Accounting Client Portal is one of its outstanding attributes. The interface enables users to quickly collect bulk payments, gather comments, expedite estimate approval, and discuss recent transactions.

Strong project management capabilities from Zoho’s advanced plans include the capacity to manage personnel and expenditures at the project level. Users may download the WorkDrive Desktop software, sync files or folders directly to their device, and view and work on files when offline thanks to Zoho’s cloud-based architecture.

Six tiers of subscription-based programs are provided by Zoho Books. The monthly fees for the paid plans range from $10 to $249. As long as revenue for the fiscal year is less than $50,000, Zoho does provide a forever-free plan. For a free plan, the plan is quite feature-rich. It has features including managing up to 1,000 invoices annually, accepting online and offline settlements, a client portal, automated payment reminders, managing 1099 contractors, and more. It also has one user and one accountant.

Intuit QuickBooks – Cloud-based accounting software for businesses

Most likely, you are familiar with Intuit QuickBooks. One of the most popular accounting services in the US is the cloud-based accounting service. Help with finance, invoicing, payroll, benefits, and expense-tracking requirements are all included in the full package.

In order to ensure customers only pay for the services they require, QuickBooks provides four subscription options starting at $30 per month, which is reduced to $15 a month for the first three months of the current campaign. Users of its free Simple Start plan may monitor mileage, produce invoices, process payments, collect receipts, compute sales tax, handle cash flow, make estimates, generate reports, and manage contractors in addition to taking full advantage of tax deductions. The ability to measure time, manage several currencies, track inventory, build budgets, access more extensive reports, manage employee spending, batch bills, and automate workflows are some of the more sophisticated capabilities available with more expensive subscriptions.

Even the most basic subscription comes with tax-saving features like automatically categorizing company spending into the appropriate tax brackets, the option to export crucial papers for tax time, and the capacity to take a picture of, save, and monitor mileage for receipts. Users may also use QuickBooks to automatically compute taxes to prevent unexpected expenses at year’s end. Users have access to their transactions Tax Liability Report at any moment to check the most recent taxable and non-taxable transactions.

Conclusion

The chores you carry out to keep your firm functioning in the modern day have gone digital.  Accounting software manages each of these tasks for you and your business. You need to simplify the tax process, provide clients price quotes and invoices, collect payments online, monitor your financial flow, and more. Therefore, it is necessary to get a good cloud-based accounting software for businesses.

I hope you found this article about cloud-based accounting software for businesses useful. Have a good day!