Small, large, or medium businesses require software to manage their company finances. But in the case of small businesses we have to focus on software that provides both Benefits of less pricing and better usability.
In our article, World top 5 Small Business software with inventory 2023, we have researched across the Internet and chosen some of the best software which fits your small businesses.
Table of content
1. Xero
Xero is a cloud-based software for small businesses. It helps in bookkeeping such as payroll and invoicing and it also allows you to connect the program with your live bank feed. Additionally, Xero provides you with both accrual accounting and cash-based systems.
Its business snapshot or dashboard helps you to measure your company's finance. In Xero, you must have to reconcile your bank transaction regularly. Because by doing this you will analyze your current finances.
Because of cloud-based you can access Xero from anywhere and whenever you want on your desktop or your smartphone and it does not require any software installation or IT maintenance.
About Xero plans
The best thing about Xero is it provides you with a 30-day free trial with all of its features after that you can purchase it according to your business requirements. It has a total of 3 plans early, growing, and established and in all of these you will get 24/7 online support. The common feature in all of these plans are:
Bank connection: in this, you can connect your bank with your Xero account which helps you to analyze and maintain your business cash flow.
Inventory: here you can see the number of stock items with their values and also you can track which items are selling well and which are not selling well.
Accounting reports: You will get access to accounting reports to track your finances. Additionally, you can online collaborate with an advisor in a real-time.
Online payment: It allows you to accept online payments using GoCardless, stripe, etc. You can add a button 'pay now' to your online invoice.
Order purchase: in this, you can online create and send purchase Orders and also you can track the record of orders and delivery.
Image source = Xero
file store: You can store your file in Xero. Which consist of receipts, contracts, bills, etc. Additionally, you can give access to files to your accountant or bookkeeper.
Xero contact: here you can see a detailed history of invoices and payments, customer’s or supplier’s sales.
Tax on Sales: in this, the tax on your product or service is automatically calculated which will help you to prepare a return.
Xero plans
Early plan: This plan is suitable for new businesses, self-employed and sole traders.
Growing plan: This plan is good for small businesses which are in the growing stage.
Established plan: This is suitable for established businesses.
Will my data be safe and private in Xero?
Yes, your data is safe and private in Xero. Because Xero is certified to the highest level of safety and security standards, including ISO27001 and PCI DSS. Additionally, it consists of two steps of authentication for the extra security of users' data.
2. Zoho books
There are some business softwares that are complicated and also expensive. sole proprietors, individuals who are operating their e-commerce, home-based businesses, consultants, etc need software that is under their cost and fulfills their business requirements.
Zoho is one of them which can fulfill all of the small businesses requirements within their budget. which prevents businesses from a bank or other loans. You can use Zoho for free for 14 days of trial where you get access to the features that are available in Zoho premium.
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Zoho business plans
Free plan: in this plan, the business which has annual revenue of less than $50,000 can use Zoho for free.
Standard plan: standard plan cost $15 per month and it supports only 3 users. You can manage 5,000 invoices, create invoices, track expenses, and mileage, reconcile transactions, manage projects and timesheets.
Professional Plan: Professional plan Cost $40 per month and it supports 5 users. Here you get all of the features of the standard plan. Additionally, you will send recurring invoices, manage purchase orders, make sales orders, and handle multiple currencies.
Premium plan: This cost $60 per month and it supports 10 users. Here you get all of the features of the premium plan with a custom domain, a vendor portal, budgeting tools, and integration with Zoho Sign and Twilio.
Elite plan: Elite costs $120 per month and it supports 10 users. Here you get all features of the premium plan plus advanced inventory control, cash flow forecasting reports email voice, and chat support.
Ultimate plan: ultimate plan cost $240 per month and supports 15 users. Here you get all features of the elite plan plus you can view real-time reports and dashboards to track your financial metrics to embed reports in websites.
[ Note: You can add 1 user to any of these plans at $2.50 per month ]
Will my data be safe and private in Zoho books?
Yes, your data is safe and secure in Zoho Books due to the highest-grade encryption used for both data in transit and data stored in the cloud. Additionally, it adheres to the highest industry standards when it comes to data privacy and security, such as SOC 2, GDPR, and ISO 27001. All your data and information are kept confidential and are only accessible to you and your team.
3. Freshbooks
Freshbooks provides you with various invoicing tools which help you in process of creating, delivering, and tracking invoices to your clients. In this users can able to create new invoices on a single screen. Additionally, FreshBooks customization tools make it easy for users to create a template that will keep their business forefront.
It is simple to create and collect payment of an invoice and with a single click you can distribute your multiple invoices. In the case of ongoing service, users can automate the process of sending the invoice and don't have to create manually invoice month after month.
In FreshBooks with the help of documents, users can directly pay you online. You can also send reminders to remind customers to pay for the invoice and you can also set a fee for late payment. Freshbooks provides you with a 30-day free trial.
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Plan of FreshBooks
Lite plan: This plan cost $15 per month and it supports up to 5 billable clients. In the lite plan, you can send unlimited estimates, track unlimited expenses, track sales tax, accept credit card payments and ACH transfers, and access reports.
Plus plan: This cost $30 per month and it supports up to 50 billable clients. It provides lite features and also provides recurring billing, double-entry accounting reports, business health reports, CPA accessibility, automatic receipt capture and expense tracking, and mobile mileage tracking.
Premium plan: It cost $55 per month and it supports an unlimited number of billable clients. It provides plus features and also Provide features of project profitability tracking, payment reminders, unlimited invoice sends payable tools, automatic full accounts, and custom email templates and signatures.
Select plan: This plan is a custom plan it requires a quote and demo from a sales representative of FreshBooks. It includes premium plan features and also includes reduced credit card transaction rates and capped ACH fees, data migration support, a dedicated account manager, removal of FreshBooks branding from client-facing emails, and custom onboarding services. Additionally, it provides an Advanced Payments add-on that costs $20 per month for the other plans.
Will my data be safe and secure in fresh books?
Yes, your data is safe and secure in FreshBooks. For the security and protection of users' data, FreshBooks uses 128-bit SSL encryption. FreshBooks also complies with GDPR and other industry security standards.
4. Wave Accounting
Wave Accounting is another accounting software that provides you with invoicing, payroll management, billing, payment tracking, credit card processing, finance management, and receipt scanning.
In wave accounting, various data of business including profit/loss, sales tax, balance sheet, cash flow, etc can be reported. Additionally, in Wave's bank reconciliation tools, users can manage their bank account and information on credit cards in real-time so that they can improve bookkeeping accuracy and efficiency.
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Wave accounting price
Wave accounting features are free, it will cost only when you have to use Wave Payments or Wave Payroll and the fee of payroll vary, the supported states are charged $35 per month, and $20 is charged for other states per month. Additionally per employee $4 charge is assessed each month.
Will my data be safe and secure in wave accounting?
Yes, your data is safe and secure in Wave Accounting. Wave Accounting uses bank-level security with 256-bit encryption and two-factor authentication. Wave also complies with various industry standards, such as GDPR and SOC 2. Additionally, Wave Accounting is PCI compliant and ensures your financial data is secure.
5. Sage 50cloud Accounting
Sage 50cloud Accounting is a comprehensive cloud-based accounting software for small businesses.
It provides customer management and financial reporting, cash flow forecasting, account payable and Accounts receivable, profitability tracking, custom reporting, digital invoicing, online payments, automated bank reconciliation, and more.
Security functions of Sage 50cloud Accounting include audit trails, suspicious transaction flagging, and user access settings. This data can be backed up to the cloud or locally.
Sage 50cloud Accounting Plan
Pro accounting: This accounting plan is only for a single user and it cost $340 per year and in the case of the month it cost $33/per month.
Premium accounting: This plan is for 1 to 5 users and cost $554/per year for a single user it supports 10 companies. In the case of a month, it cost $55/per month.
Quantum Accounting: This plan is for 1 to 40 users and costs $919/year for a single user it supports unlimited companies. In the case of a month, it cost $91/month.
[ Note: In This cost increases with the number of users. For instance: a premium account will be $1,269/year for 5 users, and a Quantum plan will be $2,347/year for a 10-users. ]
Will my data be safe and secure in Sage 50cloud Accounting?
Yes, your data is safe and secure in Sage 50cloud Accounting. Because Sage it uses the top level of security protocols and encryption to protect users' data. It also complies with various industry standards, such as GDPR and SOC 2, to ensure users' data is remain safe and secure.
Related Searches:
How do small businesses keep track of inventory?
How much does inventory software cost?
The cost of inventory software depends upon the type of software, and features you want. But usually, inventory software costs between $0 to over $1,000 per month.
What are the 4 types of software used in a business office?
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