It’s not that simple to find easy and cheap accounting software that will satisfy your needs. Especially if you are starting a business and you’ve never worked before with financial software. In the first step, we will defined the useful functionality of accounting app for a small business.
Analytics and Planning for best small business software
An analytics is one of the points that worth paying attention to. For example, a pie chart shows the structure of expenses or revenues. But It can’t visualize how they relate to each other and how your profit was formed. A waterfall chart is better suited for this purpose.
Budget planning functionality is a necessary part of the small business accounting app. This interface should be flexible, and allow you to set target for a specific period and plan upward and downward trends, as well as seasonality. The best choice for today is the spreadsheet interface. Its simplification may not always be reasonable.
When choosing accounting software for small business, you should pay attention to Cash Flow. Its actual and target data presentation should be helpful. It has to show you a critical ending cash balance where additional funds are needed.
How simple accounting is for small business?
The process of tracking data and its accumulation in the database is quite successfully solved by many applications. However, one of the key points is how this data is presented. Large companies are holding the staff of economists, analysts, and financial managers. This entire staff is highly qualified and engaged in preparing reports and statements for company management. They master Excel and know macros and SQL. No doubt, Excel is a flexible and powerful tool on which you can even bookkeeping a medium-sized enterprise. It can be used as a core of free accounting software for small business. But reports built on its basis need constant support and manual updating that can take a lot of time.
What is the easiest accounting software for small business?
Simple solution does not always mean a good one. When we talk about the best small business software, we have to analyze whether its functionality meets current needs. If you are starting a business, and you need a professional and effective solution, that you can handle yourself, take a look at Aurora. It can show you the right approach to finance and give a practical understanding of how the three core financial statements (balance sheet, income statement and statement of cash flows) work together. Watch the video guide to get an idea of how the interfaces (accounting, planning, and analytics) can be implemented in the accounting apps for android.
If you are starting a business, this article can be useful:
How to start a small business online?