There are several steps to take when you are starting your business — including a well-thought-out and written plan, a solid business structure, a registered business name and website, and a budget.
Another important step in getting your business off the ground is finding a good accounting system — which will help you effectively manage your budget, set any retail or service prices, file your taxes, and much more.
Keeping your financials in order can be stressful, especially in the early days of your business. Finding the right bookkeeping tools and support to help you is going to alleviate a lot of stress, and help you succeed early on.
When searching for the right bookkeeping tools for your business, keep in mind that bookkeeping is the recording of finances. Meanwhile, accounting is more for interpreting and analyzing financial data. So, make sure you ask the right questions when looking for the right bookkeeping tools to help you.
For example, are there any industry-specific accounting needs you have, that your accounting has to have? A one-stop-shop accounting program may not always work, whether it doesn’t have all the features you need, or you are paying for services you aren’t using. List out which features you absolutely need, and find an all-inclusive system. There are some bookkeeping software and tools that can make things easy and help you focus on the rest of your small business, but hiring a professional team to manage your finances will keep your business safe, financially sound, and done correctly. Trying to DIY your own finances can lead to erroneous reporting, incorrect tax filings, and other financial issues.
Bookkeeping Tools For Your In-House Accountant
FreshBooks – This tool does it all. It manages everything, including expenses, time tracking, projects, invoicing, accounting, payments, estimates, and reporting. It’s perfect for those who are self-employed or agencies and firms that consult or work with clients that need to be billed. It integrates with over 80 other business applications, from project management tools to payroll. It’s truly a one-stop-shop tool that is a must-have for the tech-savvy, want it all, entrepreneur.
QuickBooks – Quickbooks is a household name you may have heard of before. It has gone from a simple accounting program to one of the most widely used bookkeeping software around. It is known for being super easy to use, and all-inclusive for small business owners! They offer a free 30-day trial, along with dozens and dozens of webinars and tutorials to watch online to learn how to use it. It comes highly recommended by small business owners and self-employed freelancers.
Sighted – This is a 100% no-cost invoicing tool. Sighted can help you manage clients, products, services, send quotes, and even receive payment! For a free service, it is very impressive and has everything you need to run your business.
Tax Services
Most importantly, to keep your finances on track you need to utilize the best tax filing services. Tax Relief USA offers guaranteed tax filing services, support, relief, and settlements. We can be advocates for you and represent you in any tax situation, and be your voice to the IRS. Our Enrolled Agents, Tax Attorneys, & licensed CPA’s can minimize your liability and help you reach the best standing with your finances and tax situation.
We can help with utilizing the proper deductions for your business, answering any questions for you or on your behalf, and provide full support during a tax audit or settlement case.
The fact of the matter is if you’re running a business, you have your hands full; you’re making money, you’re hiring employees, you don’t have time for bookkeeping! So ask the right questions, talk to the right people, and get the right tools that work for you and your business.