Features of accounting software should offer to help you save time and better manage your finances:
1. Basic accounting tasks. Most businesses do with accounting software that offers basic functions like invoicing (both by email and snail mail), income and expense tracking, financial report generation, and client and vendor management.
2. Automation. Things like billing, recurring payments, past-due notifications and other automated processes save your time.
3. Quote and estimate creation. Use customized, pre-made templates to create quotes and estimates for clients; then automatically convert them into invoices.
4. Tax preparation. Make both your life and your accountant’s life easier with accounting software that can help you with your taxes. Features include automatic tax calculations, multiple tax rates and tax reporting, and the ability to instantly email all necessary data and files to your accountant at the click of a button.
5. Multiuser access. Most accounting software products give access to multiple users (e.g., you and your accountant), so you don’t have to do everything on your own.
6. Payroll processing. Enter time sheets, calculate pay, print checks and pay your employees — without all the legwork.
7.Mobile access. Use your accounting software anytime, anywhere on your mobile phone or tablet. This is particularly useful for business owners who are always on the go and are too busy to sit down and manage the books at a computer.
8.Third-party integration. Accounting software can make it easier to run your business by integrating and automatically inputting real-time data from apps and tools you use the most. This includes POS systems, inventory, e-commerce, ERP, credit card processing, CRM and Google apps.
9. Real-time data. Accounting software updates data in real time and thus eliminates the need to manually input financial information. Nicole Wolfgram, founder of NV Blues, loves the reconciliation feature on her accounting software that keeps her up to date on the company’s finances.
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