Accounting software is software that automates accounting and bookkeeping tasks like invoicing, accounts payable, accounts receivable, income, and expenses. Small business accounting software puts all your financial information in one place, making it easier to share data across teams or externally and saving your employees from double entries or having to type things in manually.
The best accounting software for small business comes in 2 forms: desktop accounting software or online accounting software. Desktop accounting software is an application you install on your company’s computers. Online accounting software, also known as software-as-a-service or SaaS, has the same functions but runs on the cloud.
At a minimum, your accounting software is an online bookkeeping program that carries out the core accounting processes we mentioned earlier–such as invoicing, accounts payable, accounts receivable, income, and expenses. But that’s not all it should do. Below are some of the advanced features included in the best accounting software for small business.
Tax integration. Your accounting software should provide balance sheets, profit and loss reports, and any other customized repo