With all the choices out there, you may be a bit confused which accounting software is the best for your small business. Should you do it yourself with one of the new accounting programs out there, hire an accountant specifically for your business, or hire an outside company to take care of it for you?
One thing is pretty certain. The best way for businesses to keep their books accurate is to use a high quality accounting software. Note: buying a good accounting program will not make you a good accountant. Although these programs are very easy to use and practically fill the spreadsheets out themselves, they don’t teach accounting basics. The user must understand debits and credits and often it is best to hire an accountant to use the program.
There are many options when it comes to accounting software. It is important to buy a best-selling accounting program rather than settle for some no-name software just because you found a good deal. There are many small accounting software providers out there, but remember as your company grows, your accounting software should too. Software Providers like Quickbooks and Peachtree design their accounting software with expansion in mind so you can easily upgrade when the time is right.
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Basic Accounting Programs for Small Business (price range $70-$100)
If you’re just starting up a small home business on the side these basic programs may be a good choice for you. These accounting programs are for first time users, meaning you cannot import data from other software.
Standard Accounting Software (price range $99-$285)
If you’re looking for more features like basic inventory tracking, purchase orders, payroll, and complex reports, these programs may be a good choice for you.
Advanced Accounting Software (price range $250-$475)
These programs include more advanced features like sophisticated inventory tracking, creation of sales orders, track back orders, advanced reports & forecasts, progress billing, and advanced job costing.
Industry specific Accounting Software (price range $300-$500)
If your industry is accounting, construction/contractors, distribution, manufacturing, nonprofits, professional services, or retailers, there is an advanced software program designed specifically for you.
Using the chart below, be sure to check which features are included with the different Accounting Software programs.