Financial tracking might be the most important component of running a business. Without proper bookkeeping, you won’t know how much money you’re bringing in, how much you’re spending, who you need to pay, who needs to pay you, and what you owe in taxes.
As an entrepreneur, you might be wondering how to go about tracking everything. Luckily, accounting software is widely available. So, what’s the best bookkeeping software for startups? When it comes to financial organization for small businesses, QuickBooks is at the top of the list. Here’s what you should know before buying the software.
So, what is QuickBooks, exactly? The accounting software provider caters to entrepreneurs by providing programs and tools for managing day-to-day transactions, accounts payable, and accounts receivable.
Businesses can also use QuickBooks to:
The services from QuickBooks are geared mostly toward small- to mid-size businesses and solopreneurs. However, some large enterprises use the platform as well.
Tax prep and filing • Prepare and file quarterly and yearly taxes for your small business.
Accounting software for small businesses • Manage accounts payable, accounts receivable, payroll, and billable hours.
Financial reporting • Generate monthly and annual financial reports for your startup.
Affordable accounting solutions • You can start a subscription for as low as $25 per month.
Automatic expense tracking • Download and categorize each transaction.
Organized bookeeping Tools • Easily manage all financial components in one place.
At this point, you might be wondering, Is QuickBooks easy to learn? Believe it or not, the accounting software is not just for accountants and CFOs. The interface and dashboards are straightforward, and learning the program doesn’t require a finance degree or any special training.
Skillshare and other online learning platforms offer streamable video courses on how to learn QuickBooks. You can also find several easy-to-follow setup guides, helpful articles, step-by-step tutorials, and QuickBooks training directly on the company’s website. Overall, the software is user-friendly and easy to pick up. While some startups outsource a bookkeeper or have one on staff, many small business owners manage QuickBooks themselves.
As mentioned above, the most common tasks small business owners use QuickBooks for include invoice management, bill pay, and income tracking. On top of that, you can generate monthly and annual financial reports and prepare to file your quarterly and annual taxes.
The smart bookkeeping software from QuickBooks goes far beyond your typical spreadsheet. In addition to efficiently managing cash flow and expenses, every aspect of your finances will be organized and accessible.
You also have the option to process payroll yourself or have a QuickBooks expert handle it for you. Additionally, instead of tracking billable hours through manual entry, time can be entered and managed on any mobile device.
The bookkeeping platform isn’t just for small businesses –– it’s also an essential tool for solopreneurs (AKA self-employed individuals). If you’re a freelancer or otherwise independently employed, QuickBooks Self-Employed is an excellent accounting resource.
With QuickBooks Self-Employed, you can:
The software automatically tracks your business expenses by linking to your credit card or bank accounts. You can download and categorize each transaction to stay organized and ready for tax season.
How much is QuickBooks Online, and is it worth it for small businesses? The accounting software company offers four different subscription plans, each with varying tools and features. For each plan, businesses make monthly payments without any annual contracts.
Quickbooks Simple Start plan is $25 a month, and it can accommodate three users. The Essentials plan supports five users and costs $40 per month. Priced at $70 a month, QuickBooks Online Plus allows seven accounts and comes with a wide range of features. The Online Advanced plan is $150 a month. It supports ten or more users and is the most sophisticated membership option.
Customer service is great, ease of use is great, accessibility is great. Overall, very few complaints. Caitlyn, Software Advice
This software is easy to use and easier to understand. I use it regularly during my work week and it’s absolutely magnificent! Omikka, Software Advice
QuickBooks Online is ideal for small businesses in need of strong accounting, ample features, and mobility. Chelsea Krause, Merchant Maverick
QuickBooks Online is still the best online accounting application for small businesses, thanks to its depth, flexibility, and extensibility. Kathy Yakal, PC Mag
The Internet is essential for performing endless tasks, and without a connection, we’re often left feeling frustrated and at a loss. But connection issues may no longer be a problem with Edge AI chips from ARM, which run without a cloud connection. Edge AI chips are designed to accelerate machine-learning tasks on smartphones and other
Imagine a world where soldiers will have cyborg exoskeleton armor that will give them increased physical and mental performance. The Warrior Web program, funded by the U.S. Department of Defense, is developing a suit that will allow future soldiers to carry heavier load, stay active longer, and reserve more energy for important cognitive processing while
The last decade was full of digital advancements. Technology invaded our day-to-day lives, replacing alarm clocks, digital video discs, print books, movie rentals, newspapers, magazines, and so much more. In some ways, tech has simplified our lives. 2019 was an innovative year, with the rise of accessible AI and other smart tech systems. The next
Without engagement, the urge to invest your attention quickly dissipates, and time spent on the Internet is no exception. Interactive content hooks people into websites and apps and encourages them to remain engaged for longer periods. While non-interactive online content is a source of information, it doesn’t have the same alluring edge as its interactive
Generation Z (or Gen Z) is the demographic group that succeeds Millennials. They were born between 1995 and 2012, with the oldest now reaching their mid-twenties. Gen Z is currently the largest generation, accounting for about 25% of the U.S. population, and beating out Baby Boomers by a couple of percentage points. They also consume
Similar to smart homes, the idea behind smart cities is to upgrade the quality of living for its citizens through intelligent technology. Essential components of a smart city include ultra-modern facilities, enhanced infrastructure, round-the-clock security, and other digitally improved community features. Theoretically, smart cities could benefit developing economies. Although it’s never been carried out, the
