Microsoft Excel is easy to use application, popular with many bookkeepers because of its extensive multifunctionality. That being said, we have a tendency to limit ourselves to well-known, potentially poorer-performing solutions when we don’t know any better. So we’ve put together a list of four alternative financial softwares and applications that may suit you and your client’s needs better.
1. Zoho Books
Zoho Books is an accounting software that is becoming popular. Like Excel, it is cost effective, performs a variety of accounting functions, and is easy to use. It can automate feeds from the bank, create payment reminders, and provide tracking for invoices. It’s also easy to integrate this software with Stripe, making it easy to process payment reconciliations. To top it all off, you can also integrate it with other business apps, extending Zoho Books’ functionality.
The software works well for SMEs, and stands as a leading application for retail businesses. You can perform various operations with Brightpearl, including inventory management, across-the-board automation options, and high performance e-commerce connectors. Brightpearl is also cloud-based, which means you can work from anywhere you have an internet connection. A key feature of this app is its ability to integrate with shipping systems, but other features include management of orders, point of sale suites, and batch processing functions.
Intacct’s name is actually an acronym made from two words: “internet” and “accounting.” And that’s exactly what it is: an advanced cloud-based accounting system. It possesses different features such as cash management, order entry, accounts payable and receivable, employee expenses and the general ledger. You can add complex modules onto the platform such as project accounting that will enable you to perform other accounting functions. Unfortunately, Intacct’s functionality is so complete that most users need to take some classes to use it effectively.
Xero is a cloud-based application which enables business administrators to track financial information from their activities in real time. It offers a suite of rules which you can use to analyze or control transactions, changing them to meet your needs. A key feature of Xero is the high number of connections it has to different firms, such as PayPal. These links allow you to import banking transactions and categorize them as needed.
Excel and Quickbooks aren’t the only softwares on the market that facilitate effective bookkeeping. Gaining experience in different accounting approaches can also help you prepare for CPA certification. Take a moment to check out these four alternatives, but ultimately find what works for you and let it transform your perspective on accounting.