The type of software that a company uses to store its data plays a critical role in the company’s organization and efficiency. If data sets need to be entered by hand into an excel spreadsheet, your company will eventually get left behind in the stone age. The newest technology today can decrease wasted time and give you an edge on companies who do not have the best software for bookkeeping. This list of the top eight best data storage software options will help you decide which you should choose to put your company one step ahead.
QuickBooks Pick 1
QuickBooks is a type of accounting software designed for small to medium-sized companies who are looking to manage their financials internally. It can help structure payroll, payment transactions, and even company bills. Not only does it manage these statistics, but it also can keep track of customer data, inventory, and provide reports.
One of QuickBooks’ best features is its online version. You can use the software from your personal computers or even your mobile phone. This ability can save loads of time and be extremely convenient for users.
GnuCash Pick 2
GnuCash is a specifically engineered platform to take care of all your monetary transactions. Its software uses double-entry bookkeeping. This means that each input will have a cause and effect on another account. It makes sure that your assets and total net worth are headed in the right direction rather than diving down into the dirt.
GnuCash manages both credit and debit transactions. Therefore, each sale can be directed to its respective account. GnuCash also made the best software for bookkeeping list thanks to its loan and mortgage management system. Along with its management features, it can also print checks at your convenience.
TurboCASH Pick 3
TurboCASH is another accounting software created to help both small and medium businesses. It offers similar features to standard accounting management such as documenting transactions, publishing reports, and handling ledger work.
One thing that makes this software stand out compared to others is its ability to expand. Developers within your company have the option to change and adapt the software to your company’s specific needs by using plugin technology. It offers many different languages, has over 100,000 current customers, and reaches over 10 different countries. It works on multiple operating systems including Windows, Linux. The company is currently designing their top product for Mac.
Invoicera Pick 4
This software is slightly different than the others on our list. Its main focus is invoice technology. This allows users to upload all of their excel data and store or examine it through the Invoicera system.
Instead of being focused only on small and medium-sized business, Invoicera is made for all sizes of companies. This is one of the main reasons it is on our list of the best software for bookkeeping. Another feature that makes it stand out is its ability to allow the user to prioritize tasks or data.
Bill.com Pick 5
An add-on option for your best software for bookkeeping list should be Bill.com. Bill.com works with other software to manage and customize all your cash flow transactions. Many online business and banks use Bill.com to handle all of their online banking activity.
One of its main goals is to reduce the amount of total paper that small businesses typically use. This will save them resources. The most common software it is used with is QuickBooks.
Microsoft Dynamics GP Pick 6
This accounting software provided by Microsoft primarily uses Microsoft SQL Server to manage company data. Microsoft Dynamics GP can handle payroll, manufacturing data, customer support, and project accounting dynamically. There are two purchasing options when buying the product, either standard or professional.
Standard allows the customer to implement up to 10 users and handle 500 payroll accounts. The professional version does not have any restraints on users or payrolls. It comes with additional features within the manufacturing data storage and physical data analysis. Although both versions are solid, it is recommended for larger business to use the professional version when searching for the best software for bookkeeping.
SAP Business One Pick 7
The SAP Business One accounting software boasts a well-rounded approach to data management. It focuses on six main areas. These are inventory control and production planning, management of finances, business analytics and data structure, opportunity and sales, resource control, and supply chain management.
The company behind SAP Business One is from SAP SE in Germany but has spread out throughout the world. The software contains powered-in memory, which allows the product to have incredible rates of speed compared to its competitors. Its highly rated speed is what has landed SAP Business One on the list of the best bookkeeping software.
Hiveage Pick 8
Similar to the Invoicera product, Hiveage software handles invoice data, but for an unlimited amount of users. One account can be used to manage as many desired financial profiles as the customer needs.
Some of its features include auto billing, feature sales estimates, tracking miles for company drivers, and group access. This is where everyone on your team can observe your data.
Now that you’ve been able to read about which products make the list of the best software for bookkeeping, you should have an idea of what your company needs to use to handle those tricky finances. Without the proper technology to manage your company data, things can get lost easily. It can even cost you time if everyone is entering excel data manually from day to day.
Make sure you consider your company size, your budget, and what features are the most important for your daily accounting needs. Once implemented, you will notice a major difference in overall efficiency and time saved by using a savvy software to take care of that pesky data buildup.