With tax season now in full swing, small business owners are eager to identify fast and efficient accounting software that meets their company’s specific needs.
Luckily, finance consulting firm Better Business Advice has identified the top three accounting software platforms best suited for small organizations, as well as the unique qualities each brings to the table, allowing entrepreneurs to find the best fit for their operations.
Freshbooks
FreshBooks offers a straightforward, approachable layout, making it the most accessible and widely used accounting software. Despite its ease of use, the platform still offers a comprehensive list of features that can handle most small business needs. Due to its relatively cheap cost and mild learning curve, Freshbooks is especially suited to the needs of freelancers and companies with few team members, such as startups.
QuickBooks
QuickBooks receives top marks for its wide-ranging use cases and in-depth insights, allowing organizations to track and control their finances down to the most minute details. It is also the preferred platform of many financial professionals, making it relatively easy to integrate into one’s operations. But whereas FreshBooks offers a user-friendly interface at a low cost, QuickBooks requires more familiarity to leverage its full potential and can be expensive compared to other accounting software platforms. These differences make it a better option for companies that have their own accountant or accounting departments in addition to those that work with bookkeepers or outside consultants.
TurboTax
Finally, TurboTax, with its convenient features and intuitive design, remains an excellent choice for many businesses, although its limited functionality means most users will rarely rely on it outside of tax season. Rather than addressing general needs, it focuses primarily on tax preparation and filing. However, what it lacks in utility, it makes up for with its simplicity and accessible customer service, with the website offering live chat options for those who need additional guidance. These qualities make it one of the best accounting software options for individuals and small businesses who want a cost-effective, easy-to-use platform for preparing taxes but do not require financial services year-round.