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What is a good and easy to use bookeeping software/saas ? I have very minimal accounting knowledge other than the one I took in university....which I also got C- in. My friends use excel but I don't understand how they can do all of it in excel. also: if a revenue is recurred and the money is to arrive in 4 weeks, do I record this as that month's revenue? |
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Its hard to answer your question because you ask for "good" and "easy". If by good, you mean comprehensive and flexible, I would suggest Quickbooks in the sub-$500 price range. A lot of people HATE and I mean HATE Quickbooks, but I don't know of anything else that can do what it does for the price. However, Quickbooks is not easy and it is not very flexible. The SAAS packages I know of are not very comprehensive, as most do not do payroll AR, AP, budgeting, employee time tracking etc. Excel is easy, but you have to know what you are doing, which might help your business in the end anyway. Buy a recommended book on Amazon and spend a couple of weekends getting your hands dirty with the concepts of accounting and I think you will benefit greatly. It will be easier now for you than it was in college because there is a direct and immediate benefit to you learning it and it relates to something you (hopefully) feel passionate about. |
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If you're looking for what in my opinion is the best of the best when it comes to online account keeping software, check out Xero. |
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We use Quickbooks online and it works well. It is SaaS and pretty easy to learn and use. You can also hook it up to your bank account so your statements automatically go into Quickbooks. |
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In addition to Dwayne's suggestion of Xero, other popular SAAS options are LessAccounting and WorkingPoint. |
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You're asking about the difference between cash and accrual based accounting. If you're at that stage, and don't understand the implications of choosing one over the other, then you need to start at the beginning... I would recommend the book "Small Business Survival Guide". Then maybe "Accounting for Dummies"... assuming you're in the US.
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Love them or hate them, the de facto solution for small business accounting is, and will continue to be, QuickBooks. QuickBooks is designed for use by non-accountants so it keeps you on a pretty strict path and doesn't let you make tons of mistakes. The problem you will run into with these smaller SaaS solutions is that they're not going to provide things which you'll probably need down the road (I'm speaking primarily of payroll and time tracking, both of which you would need to use a separate solution for which may or may not make your accounting kludgy). |
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