Any business, including those located in Lone Tree, benefit from working with the right toolset. These tools include the way they account for their monthly revenue and spending. As a pillar of conducting good business, accounting and bookkeeping should be at the top of your list.
Below are 4 tools that are making a difference in business efficiency when it comes to bookkeeping.
The flagship software in the bookkeeping world is Quickbooks. This software has been around for years and is trusted by business managers for organizations both large and small. Not only does Quickbooks allow you to manage your accounting from just about anywhere, it also gives you the ability to invoice clients and synch with a bank account. For most small business owners, this can be a game-changer.
Quickbooks is available as a desktop application or you can opt into Quickbooks online to be able to use the software on the go from a laptop, your phone or a tablet.
As an alternative for small businesses, Freshbooks makes bookkeeping and accounting duties a breeze. It has a slightly lower price point compared to Quickbooks, but it is still packed with features like invoicing, monthly statements, quotes and it syncs with all major banks. If you’re just getting started and Quickbooks is a little outside of what you need, you’ll want to give Freshbooks a try.
EZLease is a special type of accounting software that is most often used for businesses in leasing situations. When a business has to lease construction equipment or even facilities, they have to file taxes and manage their accounting in ways that comply with Accounting Standards Codification (ASC). Without accounting software like EZLease or a similar solution, businesses will have a tough time keeping track of all of their leases and complying with government standards. Although it’s vastly different from something like Quickbooks, it makes the list for any Colorado business in this particular situation.
Finally, one of the leading solutions to small business bookkeeping and accounting is FreeAgent. This software was originally from the UK as an alternative to larger accounting software options like Quickbooks. FreeAgent is the most watered-down, easy-to-use accounting software you will come across. Here you can manage your books, invoice customers, send quotes, provide receipts to any customers and it synchs with most major financial institutions. The best part, of course, is the price. FreeAgent plans start at just $12 / month, which makes it very easy to get started.
Other Options for Your Business
Depending on how much business you do in a given month, it may make sense for your to staff bookkeepers and accountants. For instance, a construction group with multiple projects across the state has a lot of expenses to track in a lot of detail. If this sounds like your business, consider making a new hire. Alternatively, if you’re on the verge of growing but you’re not ready to hire just yet, you may want to consider outsourcing your bookkeeping. Firms like Busy Bee Advisors will provide all the essential accounting duties for your business until you reach a point where you’re ready to staff an accounting department. Above all, make sure you do what is best for your business’s budget.