Ready to set your business up for success and potentially save $1,000 of dollars?! Of course you do! One of the important maintenance areas of your business, that people often neglect, is accounting. In order to give you all the information about business accounting that I can, I wanted to share with you the three different products that I have tried in my own business and what I liked and disliked about each software.
The three products that I have tried are: Wave, Freshbooks and Quickbooks (both Self-Employed and Small Business). Out of those three, Quickbooks is the clear winner.
Why? The number one reason is that Quickbook allows bank transfers! This means that you don’t have to pay those silly credit card fees that other software’s charge- which means more money in your bank account!
It also is really easy to sync up all of your accounts and have everything in one place. Then, all of the expenses and income are automatically tracked – which can save tons of time (and money!)
There are two versions of Quickbooks that I have used – the Self Employed and Small Business. You can get started with the Self Employed version for as little as $5 per month. And if you click right here you can get 50% off the monthly fee! If you have contractors, or a few employees, then Small Business is the right choice for you – click here for 50% off of that!
Another awesome feature about Quickbooks is that you can just invite your accountant to your account, instead of trying to export and get them all that information.
Quickbooks self-employed will use the app on your phone to track all of your mileage. Unfortunately, the small business version doesn’t offer this, but I use Mile IQ and if you sign up through THIS LINK then you can get 20% off!
Quickbooks also has the ability to grow as your business grows! No need to jump to a different software if your business needs to take on more employees or contractors.
The two big downfalls for me with Quickbooks is the inability to track your miles within the Small Business version and also, you aren’t able to track your hours very reliably. This can be an issue if you bill clients by the hour or need to track hours for a project.
The big lesson that I have learned through my business accounting is that you need to get a system in place ASAP because it will save you so much time and headache in the future! It will also help tremendously when you get to tax time!
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