Guest article provided by: tvtraydesk.com
Running a home-based business can be overwhelming for solopreneurs and mompreneurs. On top of the fuss of client acquisition, client retention and, of course, doing the actual work, there’s bookkeeping!
Keeping track of expenses and income is one of the first things that entrepreneurs put on the back burner, in favor of more time-sensitive work. This can end up leading to income unaccounted for, expenses spiraling out of control and even problems with paying your taxes. Here are four excellent bookkeeping programs to ensure that every penny is accounted for.
Wave is a beginner friendly app that serves as a way to track expenses and income, as well as functioning as an invoicing program. Ideal for one-woman businesses, Wave allows you to enter in all your business’s financial information, and categorize it to suit your needs. This information is then compiled into monthly charts that allow you to compare your income and your expenses, as well as export for tax and filing.
In addition, Wave also allows you to send payment requests and invoices to clients; that information is then automatically incorporated into your monthly charts.
2) Intuit Quickbooks
Perhaps one of the more famous names on our list, Quickbooks is a favorite amongst small business owners. It is complete with different packages, including freelancer bookkeeping programs and even the ability to hire your own bookkeeper. For companies with multiple employees, Quickbooks also offers a payroll option, allowing businesses to stay with Quickbooks even as they grow in size.
Overall, Quickbooks has proven itself to be a useful tool for businesses and budgets of all sizes.
3) PayPal Business
Another popular program is PayPal Business. A great program for people who sell services and products alike, PayPal Business acts as a more organized, business-oriented version of their regular PayPal service.
On top of being a high-quality invoicing feature, PayPal also comes jam-packed with store listing tools to help you sell physical items, instead of being limited to online products and services. And if you need to access funds quickly? You also have the ability to take out a debit Mastercard in your business’ name.
Finishing off the list is Freshbooks. With a near-perfect rating from PC Mag, Freshbooks is a solid choice for freelancers, as well as small businesses. Much like other programs on this list, Freshbooks has a myriad of products and services it has to offer, including invoicing, expense tracking, reporting, and accounting programs.
What sets it apart from the pack, however, is the time-tracking feature it offers. Whether it’s the occasional contractor or full-time employees, anyone who completes any work for you will utilize this feature to send you accurate, on-time invoices. This will help you keep track of expenses while also preventing any pay interruptions for your employees.
Finding the right bookkeeping and accounting programs is a lengthy process, but ultimately makes it far easier for your business in the long run. Take into account your business’s needs, size and your budget, and see what works best for you.