Cloud-based technologies are fast becoming a top choice for small business owners looking to cut costs, improve productivity, and gain an edge on the competition. Unfortunately, a lot of entrepreneurs are flocking to these cutting-edge utilities for the wrong reasons. You shouldn’t be taking advantage of “the cloud” simply because top business insiders recommend it.
You should be interested in using cloud-based applications because they offer the benefits of virtually unlimited storage space without the bulky – and expensive – hardware that goes along with it, because of the enhanced accessibility cloud applications offer to a company of professionals on the go, and because of the often lower operating costs that accompany utilizing cloud-based software.
But enough about why you should be taking advantage of the cloud. Below are 5 of the top cloud-based accounting tools that can be best put to use by – you guessed it – small businesses.
Winner of the 2013 Stevie Awards for best customer service and the 2013 IXDA award for the superior job FreshBooks developers did on the iPhone App, FreshBooks has already earned itself a spot in the cloud-based accounting solutions hall-of-fame. What makes FreshBooks so special? In a word: simplicity.
FreshBooks is the perfect solution to some of the most time-consuming and complicated accounting responsibilities small business owners face. With a guided step-by-step wizard that walks you through even the most difficult accounting tasks and options for everything from online payments to expense tracking, FreshBooks offers a robust array of services in a simple, easy-to-use package.
Check it out at: http://www.freshbooks.com
Like FreshBooks, Kashoo offers anytime access to your vital accounting information via browser or iPhone App. Unlike its competitors, Kashoo’s simple-to-use yet powerful service is available in both a free version, limited to 20 transactions per month and a paid version priced at a very reasonable $16/month. If you’re looking for a cloud-based accounting solution that won’t break the bank, Kashoo definitely warrants more than a passing glance.
Check it out at: http://www.kashoo.com
Bill.com is one of the higher-end cloud-based accounting tools on the World Wide Web. With a powerful system that can bank your deposits, pay your bills automatically based on a custom schedule that you create, and even invoices your customers, this online tool can save you hours on paperwork and free up valuable time that you could be spending building your business. Here’s a nugget of information that’ll put a smile on your face: Bill.com even offers a no-strings-attached free trial so you can make an informed decision before shelling out any of your hard-earned money!
Check it out at: http://www.bill.com/
A perfect marriage between simplicity and powerful programming, SmartVault offers a compact solution for accountants and small business owners. Though not as robust as some of the other cloud-based accounting solutions on this list, SmartVault made the cut for one simple reason: it offers small business owners and accountants a simple platform with which they can store, securely share, and access. You can even access your accounting documents on the go with their elegant app.
Check it out at: http://www.smartvault.com/
By far one of the most powerful cloud-based business solutions on the net, Tallie isn’t a financial accounting program. Rather, it helps automate expense reports and seamlessly feed data into your financial accounting software. By using Tallie in conjunction with one of the above cloud-based accounting solutions, you can establish a system of record that’s audit-ready and fully automated.
Check it out at: https://usetallie.com/
Wave Accounting: An Absolutely Free Cloud-Based Accounting Solution
If you’re not ready to make a financial commitment to cloud-based accounting solutions but are interested enough to give the cloud a test run, Wave Accounting might be just the solution to introduce you to the benefits of cloud-based accounting. It features tools for generating reports, expense tracking, invoicing, and even a payment gateway that allows you to accept major credit and debit cards.
Aside from the service fee associated with accepting payments through their system, 2.9% of the transaction plus 30 cents, Wave is completely free to the end-user. If you’re wondering how Wave Accounting can afford to offer this powerful accounting solution for free, it’s no big mystery: Wave is supported entirely by ads.
Check it out at: https://www.waveapps.com/
It’s Time To Do Your Homework
The above list is not a comprehensive list of all the great cloud-based accounting solutions for small businesses. If you want to get the best value for your money, follow the links provided and do your homework. Since every small business is different, no software package or app will fit the unique demands of every business.