Tuesday, December 2, 2014

7 Cloud-Based Accounting Software for Small and Medium-Sized Businesses

CloudWave.com writes:
7 Cloud-Based Accounting Software for Small and Medium-Sized Businesses
If you’re a business owner, accounting is one of the most crucial activities that, whether you like it or not, must be carried out, or you risk dragging your business down until it disappears from the face of the earth.
In the past, the most common method of keeping financial records was manually. Bookkeepers and accountants, commonly pictured as glasses-wearing math nerds, created reports, maintained the journals, tracked accounts receivables, monitored accounts payables, updated the ledgers, among many other activities. Because everything was mostly manual, finding errors was a dreary task, and mistakes could mean long hours of checking and rechecking, calculating and recalculating.
Nowadays, with the emergence of various cloud-based accounting software, what once was a tedious task has become easier, less expensive, and more connected with other critical business processes to streamline information flow throughintegration.
That said, here are seven accounting software to check out:


Xero offers an intuitive interface without falling short on capabilities, while doing away with accounting-related jargon that get non-accountants stumped.  Key features include online invoicing, file attachments, mobile access, free automatic updates, smart reports, unlimited users, and unlimited email support. Two or more users can access the service simultaneously from different locations using any computer or mobile device, making it more flexible and convenient than other desktop packages.
Pricing plans start at $20 per month with a 30-day free trial period.


FreeAgent is an accounting solution excellent for freelancers and small businesses.Its built-in features include invoicing, PayPal integration, fixed asset depreciation, VAT reporting, Dropbox integration, and contact management. Users can input all their transactions, which makes the year-end process quicker and easier while also allowing the accountant to maintain a real-time view of the company’s financial position. Users can also import their bank statements directly into FreeAgent for easier transaction input and reporting.
You can test drive the software free of charge for 30 days. After which, the cheapest plan is at a monthly $20.


A user-friendly web-based financial software designed by Intuit (developers of tax software that revolutionized tax payments) to help small businesses stay organized while complying with accounting standards, QuickBooks has a data hub for storing important data such as customer information, inventory-related files, and income and expense reports. It also offers payment tracking through automated online banking, bills management, and estimates creation.
QuickBooks can be used on both web and mobile platforms. All data stored is securely backed up, and users can export data to Excel spreadsheets anytime. After the 30-day free trial, paid plans start at $26.95.


Now used by over 30,000 users, Intacct is a cloud-based accounting software that provides financial management and consolidation to small and mid-sized businesses. It helps finance professionals boost effectiveness and drive growth for their organizations. Intacct supports core accounting, revenue management, order and billing, time and expenses, purchasing, project accounting, multi-currency management, financial reporting, and global consolidation functionalities. Its efficient quote-to-cash process eliminates manual data entry and gives real-time business visibility through easy-to-create control panel reports.
Intacct pricing starts at $425 a month, which includes US-based support, 24/7 operations, upgrades, and enhancements.


KashFlow is a cloud accounting application mainly for small businesses or those that have staff in different locations. Since the software can be used on smartphones, it allows users to issue quotes through email even outside the office. In the event of a computer breakdown, data remains safe as it is hosted on secure servers. Devoid of the usual accounting jargon, non-accountants need not be intimidated. KashFlow is easy to set up, with no download required.
The starting plan, Starter, is set at £5 per month.

Sage 50

An accounting software ideal for small to medium-sized businesses, Sage 50accounting solutions make processes easier, more reliable and minimize the amount of time spent on accounting, enabling financial professionals to focus on further growing the business. Features include financial consolidation, electronic bills payment that speeds up cash flow and reduces costs, budget control, accurate financial records that are easy to understand, job costing and invoicing, as well as inventory management and purchase order automation.
Pricing starts at $259.99 with a 60-day trial period.


PHC FX is a web-based accounting software that offers paperless invoicing for painless billing and business management, enables users to finish projects and reach targets on time, boosts team productivity, and provides stellar customer support. Users can track accounts, time and money usages, and access important information, such as the company’s actual financial status – anywhere, using any device. PHC FX offers a full-featured free trial for 12 days, with paid subscription starting at €9.98 per month.

Final word

By automating tedious accounting processes, day-to-day business operations become more manageable. Accountants and business owners now spend less time performing routine, time-consuming accounting tasks to focus on more value-adding activities like interpreting statistics, providing sound financial advice, and sustaining and growing the business.
For more cloud-based accounting solutions, visit Cloudswave’s library of the best accounting software based on expert reviews.


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  3. Informative article. But you can also check major of accounting software with comparison, features, pricing for small, medium and large enterprise.