Accounting software connects accounting professionals and small businesses. QuickBooks is one such software that connects its users across various geographic locations and devices. This paper discusses a few of the QuickBooks competitors. With the help of accounting software, expenses and income can be tracked, and invoices sent.
Reports and files are easily shared with bookkeepers and accountants. Such software offers organizational capabilities to help organizations keep accounting data organized. Any trustworthy accounting software is likely to profit many companies. However, there are also some problems associated with such software sometimes, and it is important to manage the possible problems associated with them.
Xero
This accounting solution is designed for growing and small businesses. Invoices and pay bills are created to manage expenses and income. This cloud-based accounting software can track businesses’ profitability and sales. Xero is intended to simplify already difficult financial operations. It also minimizes the time spent scrambling huge records. The main advantage of Xero lies in its system, where all transactions and contacts are administrated on the same page.
Some of Xero’s disadvantages are that there are limited options for payroll processing compared to QuickBooks. There are also no time-tracking tools in this software. Information can be imported from PayPal and the bank only, not from any other source like merchant account payments (pcg-services.com).
FreshBooks
The remarkable invoice-to-payment feature is provided by Freshbooks. These features are advantageous to small businesses and companies. It allows users to track exactly when the client has opened his/her invoice email. This helps the organization deal with and manage customers who claim they didn’t receive the invoice. FreshBooks also ensures that invoices are correctly distributed to customers. Billing history can easily be managed because the app offers many tools to help you keep track of current and past invoices. For example, unpaid invoices can easily and quickly be found in past months. Automatic payment overdue reminders can also be sent to the company’s customers.
However, besides these remarkable features, this software can be improved. These are reporting features, goal setting, and metrics. The users of FreshBooks have found bugs in the email. Apart from these inconsequential malfunctions, however, FreshBooks is undoubtedly on top of its business clients and users (financesonline.com, 2018).
Peachtree (Sage)
This software was formerly known as Sage 50 and is important accounting software for small businesses. It offers invoicing and billing, security, and inventory management. It also provides industry solutions for many business segments. These segments include manufacturing, construction, distribution, and accounting (softwareadvice.com, 2018). One of the advantages of this software is that it retains a remarkable amount of reporting and inventory features. This software is reliable software that allows users to set up service items, for example, items that are not stocked but bought and sold. This software offers payroll features for different kinds of employees and a variety of programs that are important to business types such as businesses that operate different departments. This software provides solid tutorials for new users on how to start with this software.
One disadvantage of this software is that it is not efficient for inventory services. It is also expensive compared to its competitors. A standard package of Peachtree costs 395 dollars. Another disadvantage is that it is hard to understand for new users, especially users who do not have formal training or an accounting background (basis365.com).
References
basis365.com. (n.d.). Pros and Cons: Top 6 accounting software today . Retrieved from https://www.basis365.com/blog/pros-and-cons-of-the-top-6-accounting-software-today
financesonline.com. (2018). Pros and Cons of FreshBooks: Is It The Best Accounting Software? Retrieved from https://financesonline.com/pros-and-cons-of-freshbooks-is-it-the-best-accounting-software/
pcg-services.com. (n.d.). Xero Accounting Software Comparison. Retrieved from http://www.pcg-services.com/xero-accounting-software-comparison/
softwareadvice.com. (2018). Sage 50 Accounting (Formerly Peachtree). Retrieved from https://www.softwareadvice.com/accounting/sage-peachtree-profile/
