Cloud Accounting, being a relatively new word, is actually not as complicated as it sounds. Before we go further and discuss the best bookkeeping apps in the market, let us first define what Cloud Accounting is. Cloud refers to a network of the user interface, storage, and hardware joined together to form a service. A cloud user does not need to know about the technicalities of what goes on within the cloud to be able to make use of the service. Basically, the user can just avail the features of the cloud service without any stress.
According to the dictionary, Cloud Computing is “the practice of using a network of remote servers hosted on the Internet to store, manage, and process data, rather than a local server or a personal computer.” Using the premise of Cloud Computing, Cloud Accounting is an accounting service that is cloud-based.
One popular advantage of Cloud Accounting is it’s integrated on the Software as a Service (SaaS) model, where the software is not bought in one large payment or through payment installation. The user pays for the service monthly. It has no hidden extra charges since the product training, installation, and software upgrading are done on the service provider’s end. Since the software can be accessed via any device as long as it is internet enabled, it provides more freedom to its user to do the job anywhere, away from the actual workspace, 24/7. To help, the following are the best bookkeeping apps for Cloud Accounting:
First off, its navigation tools and interface are very good. Designed for small business setups, it helps the user organize its books and to get paid. Its features include options online payments, time and expense tracking, and most importantly accounting reports and taxes. Each time a new task will be performed, help boxes showing step-by-step guides, which can be turned off, appear to guide its new users. Secondly, add-ons from third-party applications may be availed for free or for a cost to be used as a new feature for the Freshbooks software. The software may be used for free for 30 days, and a monthly basic plan at $19.95 a month.
Although the app has no payroll integration in its system, it is quite competitive in the market. It perfectly suits small business accounting needs with its flexibility, usability, and dedication to the standard cloud accounting features such as sales and procurement, project and time tracking, and management of the inventory.
Projects, timesheets, expense- tracking, and invoices are among the supported features in their $9 Basic Plan per organization per month which can be availed after the 14-day free trial. Its Standard Plan is at $19 per organization per month has added features such as vendor credits, bills, and tax reporting. The Professional Plan at $29 includes features like purchase and sales order and inventory tracking. Another good news about Zoho Books is that they have plans to integrate the payroll feature by the end of 2017.
This online accounting service lets its user view the business’ real-time cash flow and also provide access to the company’s latest numbers. It also has a dashboard feature where figures for the bills, expense claims, invoices, and bank balances are available for viewing. It also allows template and reports customization to better cater to the unique needs of small businesses. Zoho Books also allows the employees of a small business to collaborate and work together as a team for the finances of the company. It has an added feature that allows the unlimited addition of people, while still having control over what they can see.
This app has gained positive reviews because of its multi-user access, sleek and easy user interface, and dependable customer service. It offers a range of accounting features on invoicing, banking, taxes, and CIS. Users have also assured of its security feature with it 256-bit SSL encryption. Post free-trial, its monthly payment begins at £9 per month.
Tax self-assessment is among the dependable accounting features offered by Free Agent, aside from payroll, expense management, and invoicing. It also allows unlimited users per account. Free Agent also offers a free trial and is regularly priced at $19 per month.
With the market brimming with so many Cloud Accounting Apps, it is important to list down the different features and compare their pros and cons. Don’t rush your decision and take time to weigh things over before making a final decision.
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