Accounting software for small business has advanced considerably over the last 10 years, to the point where most of the standard packages you buy off the shelf are comprehensive enough to cover most small businesses accounting needs. The cost has also come down significantly.
Free accounting software for small business
In order to attract new small businesses as they start up, a number of software providers offer free accounting software packages. I will look at the largest two in the free category, Microsoft's Accounting Express 2007 and QuickBooks Simple Start.
Features of Accounting Express 2007
Microsoft's free small business accounting software package is Accounting Express 2007. It is Microsoft's way of cracking into the small business accounting market, which has been dominated by QuickBooks and MYOB.
With the Microsoft accounting package, you can raise quotes for customers, prepare computerized invoices, and track them to see how they are progressing, or follow up. You can process receipts and payments and complete the bank reconciliation. Reports can be easily generated, and you can print off up to 22 different types of customizable reports. Naturally, the software is integrated with Microsoft Office Word, Excel and Outlook. This is a great advantage if you want to do further analysis on a spreadsheet.
Upgrades
If your small business grows out of this accounting software, you can upgrade to Office Accounting Professional (currently $149). The data is easy to import. Extra features include multiple users being able to access the system at once, inventory management, an integrated fixed assess register, and integration with Microsoft Point of Sale retail, just to name a few.
Features of QuickBooks Simple Start.
QuickBooks accounting software for small business allows you to keep track of sales, receipts and expenses. The package allows you to raise quotes and invoices, which can be customized for your own needs. The software is user friendly. To select the function you want, just click on the icons representing each activity on a dashboard.
The software allows you to keep up to date for tax related income and expenses, and print off relevant reports. You also get technical support for the first 30 days, and I found the on line help to be great.
Upgrades
As your small business grows, you can upgrade you accounting software to keep track of employee expenses and for inventory management with QuickBooks Pro, or Premier.
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