Small business owners are always looking for ways to work more efficiently and to improve their operations.  One of the ways is to use a good accounting app.  Switching is not easy so you want to be sure it is right for you before embarking on the experience.  At any point it is important to keep in mind not only your current needs but to try to anticipate what you will need going forward.  So here are some 2020 apps that are worth looking into.

Sage One – This is a fundamental app and is rather stripped down.  It does not deal with payroll, billing for time, and reports are nominal.  What it does have are cloud-based functions that include income and expense tracking, online payments through PayPal, and the ability for multiple users with only a single fee.

FreshBooks – This is another cloud-based app that is somewhat minimal but does offer support for iPhone, iPad, and Androids.  It will cover invoicing including reminders, expense tracking, and some reports.  They are advertising a complimentary 30-day trial and if you want to purchase, there are four different plans. 

Zoho Books – This has a broader platform and works with the major browsers plus iPhone, iPad, Android, and Windows Phone.  It has three levels, Basic, Standard, and Professional.  Each level builds off the Basic and adds more bells and whistles.  One plus is its Customer Relationship Management (CRM).  It accepts PayPal. 

QuickBooks – This is one of the staples and most recognizable accounting software program.  Offered in Pro, Premier, and Enterprise, they all track income, expenses, invoices, invoices, and online link to financial entities.  Payroll is available at an additional charge.  The first 30 days are free in both desktop and online. 

Xero – This is another one you probably are hearing about.  Coming out of New Zealand, it can work with Android, iPhone/iPad.  It has three plans, Starter, Standard, and Premium and the option to upgrade or downgrade at any point.  There is no Canadian payroll component at this time.  It also has a 30-day free trial and if you want to buy it, expect to pay in U.S. dollars.

It is always a good idea to discuss your options with your accountant.  They work with a lot of different sized businesses and are a good resource about what would work best for your size and type company.

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- The Capex Team