If you are like most entrepreneurs, you probably don't enjoy accounting very much. It is tedious, time consuming and requires a lot of math. However, maintaining accurate financial records is an essential part of running a business.
Fortunately, several software companies have developed tools that make accounting quicker and easier. Here are five of the best accounting tools on the market.
Condo ManagerCondo Manager is a specialized accounting program designed specifically for homeowners associations and rental agencies. It is a newer application, but many HOAs are already using it. Here are some of the primary features:
- The ability to manage an unlimited number of units
- Fully integrated financial management capabilities
- Automatically invoice recurring fees and other regular costs
- Timely accounts receivable management
- Cloud backup of all important documents
- Bank reconciliation with every account
FreshBooksMike McDerment founded Freshbooks 12 years ago. He accidentally saved over an invoice and lost all of his work. He decided that there must be a better invoicing solution, which inspired him to create FreshBooks. Businesses can use Freshbooks to track expenses, manage invoices, manage inventory and track billable hours.
You can begin a 30-day free trial of FreshBooks without having to provide a credit card. After your 30-day trial ends, you can select one of several billing plans. If you only have a handful of clients, you can choose the "Sprout" plan, which only costs $19.99 a month. If you are a growing enterprise with thousands of clients, you can use the "Mighty Oak" plan for $39.99 a month.
SAP Business OneSAP Business One is one of the most versatile accounting programs ever published. It allows you to:
- Store all financial information in a single, centralized location
- Take advantage of sophisticated AI capabilities to get expert business advice
- Access all accounting data from the cloud
JD EdwardsJD Edwards is a comprehensive business management application. The company was founded in 1977 and purchased by Oracle in 2005. JD Edwards has a number of invaluable features, including a number of financial management tools.
JD Edwards provides detailed, timely financial information to enterprises of all sizes. The information can be presented in a variety of formats and is used for:
- Creating accurate financial forecasts
- Improving cash flow management
- Making precise asset valuations
- Minimizing expenses and improving gross margins
QuickbooksSince 1983, Quickbooks has been one of the most respected accounting programs in the world. Here are some of the reasons companies around the world trust Quickbooks to streamline their accounting:
- It has double entry accounting
- It allows you to create custom invoices
- It can create multiple charts
- It can be accessed over the cloud
- It supports multiple currencies