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Top 5 Online Accounting Softwares for Small Businesses

Top 5 Online Accounting Softwares for Small Businesses

For those of you who are accounting professionals, accounting may be much simpler with the conventional accounting softwares. For the rest of us, we need super simple softwares for accounting in order to be comfortable in our accounting roles. With the rise of self-employment, small businesses, and freelancers, there is a need for simple online accounting softwares to help these businesses manage their financial records. Luckily, there are simple online accounting softwares already on the market. There are several new, simple online accounting softwares that have been developed for small businesses and custom made for non-accountants; you only have to make a smart choice and select the one that is most suitable for your business. Here are 5 of them.

1. Xero

Xero is an online accounting software that is efficient in managing the financial records of a small business. Xero is able to transfer all the financial transactions of the business into its database and connecting them to their matching transactions. On the dashboard of the application, you’re able to get a complete and simple-to-understand representation of the major accounts. You’re also able to view the expenses and income reports, outstanding bills, and invoices payable. The application can be custom modified to make it a particular type of business. It is by far much simpler compared to Quick Books.

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2. Slickpie

Slickpie comes with various features that are suitable for most small businesses. Some of its features include MagicBot, which refers to automated data entry. This means you will save the time you would have spent entering the data into the computer, as it is automated. Other features include online invoicing, online billing, bank reconciliations, production of financial reports, and tax management; all these come in a free edition of the software. It is user-friendly, and simple to learn and understand. Slickpie offers its users an all-in-one accounting package for the whole business. Those who have used it testify that it has enhanced the performance of their businesses, as they are able to do a lot within a short time, leaving enough time to run other aspects of the business.

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3. Sage One

Sage One is accounting software that handles all business transactions, from invoicing, debts, financial reports, value-added tax (VAT), cash flow predictions, and so much more. It can be integrated to your bank so that every transaction that happens in the bank is updated in the Sage One system. It has the ability to predict your cash flow depending on your recent transactions. It can therefore predict the amount of cash the business will need or have in the future. The reports produced by Sage One are customizable to meet the demands of every unique business. The dashboard gives a quick overview of the business performance, showing the top customers, turnover history, and more.

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4. Quick Books Online

Quick Books offers an affordable package for different types of small businesses. It is is suitable for all small businesses, including freelancers, consultants, and online traders and services providers. It is suitable for a new or an existing business, and is customizable to accommodate the changes of growth and expansion. Some of its features include financial reporting, recording all incomes and expenses, automated data back-ups, and filing tax returns. The software is easy to use, and its dashboard will update periodically. It will also show important aspects of the business, such as the financial status, income, and outstanding and paid invoices, as well as the profit or loss of the business.

5. MYOB

MYOB is an easy online accounting software with all the tools to manage the accounting records of a small business. It shows the business cash flows, produces financial reports, and manages the payroll of the employees with ease. The software will store all the bills and invoice records online, and ensure they are secure. The system is integrated, and can share business information with other members of the staff. It also updates frequently as transactions happen, and produces prompt tax returns, making filing of returns a simple and enjoyable job.

Featured photo credit: Geoffrey Whiteway via stockvault.net

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Deborah Belford

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Last Updated on February 15, 2019

7 Tools to Help Keep Track of Goals and Habits Effectively

7 Tools to Help Keep Track of Goals and Habits Effectively

Now that 2011 is well underway and most people have fallen off the bandwagon when it comes to their New Year’s resolutions (myself included), it’s a good time to step back and take an honest look at our habits and the goals that we want to achieve.

Something that I have learned over the past few years is that if you track something, be it your eating habits, exercise, writing time, work time, etc. you become aware of the reality of the situation. This is why most diet gurus tell you to track what you eat for a week so you have an awareness of the of how you really eat before you start your diet and exercise regimen.

Tracking daily habits and progress towards goals is another way to see reality and create a way for you clearly review what you have accomplished over a set period of time. Tracking helps motivate you too; if I can make a change in my life and do it once a day for a period of time it makes me more apt to keep doing it.

So, if you have some goals and habits in mind that need tracked, all you need is a tracking tool. Today we’ll look at 7 different tools to help you keep track of your habits and goals.

Joe’s Goals

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    Joe’s Goals is a web-based tool that allows users to track their habits and goals in an easy to use interface. Users can add as many goals/habits as they want and also check multiple times per day for those “extra productive days”. Something that is unique about Joe’s Goals is the way that you can keep track of negative habits such as eating out, smoking, etc. This can help you visualize the good things that you are doing as well as the negative things that you are doing in your life.

    Joe’s Goals is free with a subscription version giving you no ads and the “latest version” for $12 a year.

    Daytum

      Daytum

      is an in depth way of counting things that you do during the day and then presenting them to you in many different reports and groups. With Daytum you can add several different items to different custom categories such as work, school, home, etc. to keep track of your habits in each focus area of your life.

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      Daytum is extremely in depth and there are a ton of settings for users to tweak. There is a free version that is pretty standard, but if you want more features and unlimited items and categories you’ll need Daytum Plus which is $4 a month.

      Excel or Numbers

        If you are the spreadsheet number cruncher type and the thought of using someone else’s idea of how you should track your habits turns you off, then creating your own Excel/Numbers/Google spreadsheet is the way to go. Not only do you have pretty much limitless ways to view, enter, and manipulate your goal and habit data, but you have complete control over your stuff and can make it private.

        What’s nice about spreadsheets is you can create reports and can customize your views in any way you see fit. Also, by using Dropbox, you can keep your tracker sheets anywhere you have a connection.

        Evernote

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          I must admit, I am an Evernote junky, mostly because this tool is so ubiquitous. There are several ways you can implement habit/goal tracking with Evernote. You won’t be able to get nifty reports and graphs and such, but you will be able to access your goal tracking anywhere your are, be it iPhone, Android, Mac, PC, or web. With Evernote you pretty much have no excuse for not entering your daily habit and goal information as it is available anywhere.

          Evernote is free with a premium version available.

          Access or Bento

            If you like the idea of creating your own tracker via Excel or Numbers, you may be compelled to get even more creative with database tools like Access for Windows or Bento for Mac. These tools allow you to set up relational databases and even give you the option of setting up custom interfaces to interact with your data. Access is pretty powerful for personal database applications, and using it with other MS products, you can come up with some pretty awesome, in depth analysis and tracking of your habits and goals.

            Bento is extremely powerful and user friendly. Also with Bento you can get the iPhone and iPad app to keep your data anywhere you go.

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            You can check out Access and the Office Suite here and Bento here.

            Analog Bonus: Pen and Paper

            All these digital tools are pretty nifty and have all sorts of bells and whistles, but there are some people out there that still swear by a notebook and pen. Just like using spreadsheets or personal databases, pen and paper gives you ultimate freedom and control when it comes to your set up. It also doesn’t lock you into anyone else’s idea of just how you should track your habits.

            Conclusion

            I can’t necessarily recommend which tool is the best for tracking your personal habits and goals, as all of them have their quirks. What I can do however (yes, it’s a bit of a cop-out) is tell you that the tool to use is whatever works best for you. I personally keep track of my daily habits and personal goals with a combo Evernote for input and then a Google spreadsheet for long-term tracking.

            What this all comes down to is not how or what tool you use, but finding what you are comfortable with and then getting busy with creating lasting habits and accomplishing short- and long-term goals.

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