Say that you've gone through the process of getting your business legally setting up. Now money is starting to come in and you need to find a financial software package that will work for your business. What most comes to mind for everyone is something that is easy to use and understand so that less time is taken in handling the books. Here are my top choices for small businesses:
- QuickBooks Online http://quickbooksonline.intuit.com/: This is a virtual software package that actually does not require any installation on your computer. You just sign up to use it, and Intuit provides the server to access your company finances. I like QuickBooks Online due to the fact that it is especially simple and user friendly. You can access your data anywhere at anytime with the availability of having multiple users logged in at the same time. In addition, you can synchronize your bank accounts with your bank account on QuickBooks, create classes to break your income statement into more parts, and also includes the option to have payroll and if you have inventory, you can keep track of it through QuickBooks Online. Finally, online updates occasionally occur, so you always have the most up to date version.
- QuickBooks desktop versions (includes all industries and Mac/PC versions) http://quickbooks.intuit.com/product/accounting-software/small-business-software.jsp: QuickBooks desktop versions include all capabilities of the QuickBooks Online except is not available through the internet. You must install the software onto your computer or computers for this version to work. You can also access it on other computers via remote access, which is a built in additional feature you can use which requires a monthly fee to use. In addition, if you have a server, you may install it on your server for multiple users this way. Also, in the case that there are updates for the software, you must update them on your own.
- MAS200http://na.sage.com/sage-100-erp: This is a more complex software, used for small to mid sized businesses.MAS200 is considered more of a 'real accounting' type software, meaning that if you post a journal entry incorrectly, once posted, it cannot be reversed without entering a journal entry to correct it. In this software, you will have modules for accounts receivable, accounts payable, inventory, purchase orders, and sales orders. Each month, you must close each module as well as at year end. You can set this software up on a server for multiple users with MAS200, similar to QuickBooks desktop versions.