No matter the size of your business, you need to track your income and expenses because it is important for taxes. If you devise crafty but genuine ways of accounting for your taxes, it will save time and effort during the tax season. Tracking your expenses will also help to lower the tax bill.

Best Online Accounting and Payroll Software for your Business

Most of the online accounting and payroll software aren’t as cheap as you would expect, but you can still take time to learn how it works. Here are the best online accounting software solutions to choose for your business:

1. QuickBooks Online

Quickbooks Online features some of the most powerful online business software features. Neither is it perfect nor pocket-friendly, but it is widely used by entrepreneurs thanks to its tutorials, guides, videos to show you how it operated. It offers several types ranging in cost between $5 for self-employed, and up to $25 per month for the Plus version. You may be charged extra for payroll and payment services.

2. FreshBooks

FreshBooks is an ideal accounting and invoicing tool that automates your time tracking, expenses management, and invoicing procedures. Its cloud-based framework encompasses an intuitive user-friendly interface to cater to sole proprietors, agencies, consultancies, and firms that need to monitor customer invoicing and payment collection.

3. Xero

Business owners seeking an alternative to Quickbooks Online will find Xero even more convenient. Besides managing real-time financial information, it can also help track and manage wages, revenues, expenses, and cash flowing into the business. Through the best free accounting software, you can form a partnership with more than 5,000 banking institutions across the globe.

4. Wave

Do you need a free accounting system software with plenty of features? Do you need one especially if you are operating on a tight budget? Of course. Consider trying Wave because it is one of the best free accounting software in the current market. With a good mix of features, the software is well-suited for service-based businesses that are new in the market or not planning to expand in the future.

5. QuickBooks Premier

Businesses specializing in nonprofit manufacturing and distribution, professional services, contracting and retail need QuickBooks Premier as their solution. This online business software works on-site to allow you to print checks, settle bills, and monitor expenses.

6. FreeAgent

If you are a freelance business owner who is looking for the top payroll software accounting solution with feature-worthy solutions, then FreeAgent will address all your needs. The software can integrate all parts of financial operations. With an array of tools, you will have the opportunity to control all your financial responsibilities and obligations including payrolls, taxes, invoices, and time tracking among others. You can try out its features at no cost to find out whether it is compatible with your business.

7. ZohoBooks

The Zoho family features world-class products that have continued to streamline small businesses compared to other software solutions. This award-winning accounting and payroll software boast great value for money because it automates bank details, sends payment reminders automatically, and makes it easy to send or track retainer invoices. Like FreshBooks, it merges your company’s accounting and sales units.

8. JobPower

JobPower is a fully integrated construction accounting software for general contractors, subcontractors, and home builders in the residential and commercial industries. It contains construction specific requirements such as payrolls, union reports, billings, personalized job reports, accounts receivable and many others. Because it is user-friendly and CPA approved, you can rely on it to fulfill all your basic construction obligations. You can download the app for a free demo.

9. GoDaddy Bookkeeping

As an online seller, you need a reliable free accounting system and bookkeeping solution to manage all your financial tasks and obligations without breaking a sweat. GoDaddy’s features are almost like FreshBooks since it does not include double entry accounting. However, it will still track of time and taxes to ensure the business’s core functions are properly managed. Its integrations with giant online platforms such as Amazon, eBay, and Etsy make it even more convenient.

10. 17Hats

A small business owner should perform more than one task to fulfill various functions. 17Hats is accounting software that has a fully-featured productivity suite to facilitate multitasking for projects such as accounting records, bookkeeping, time tracking, workflows, invoices, and to-do lists among others. You can’t manage all these tasks on your own, so let 17Hats do the work for you.

With dozens of accounting and payroll software products in the market, choosing the most reliable one for your business is not as it easy as it sounds. The top 10 accounting and payroll software solutions mentioned above have been evaluated based on cost, user-friendliness, and their ability to settle bills, invoice to customers, pay employees, and honor online payments from clients.

There are other options you can explore as well, but the accounting software listed here will make your tracking process easier and cheaper. Matching the ideal software options with your area of specialization should be the key solution to your accounting and payroll responsibilities.

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Phone: +1 (214) 295-7705

Businesses are hard to run, and they can be especially true for start-ups or small businesses. Handling all the tasks can be challenging, and you, therefore, need the right kind of tools to help with the operations.

One such job is payroll; you have the option of doing it yourself, delegating to an employee, or using one of the many cloud-based payroll software available.

Many businesses are employing the use of online software as a way of streamlining their processes. We will explore why such software can be beneficial for a company below. 

1. Increase in Productivity

Since the information is in Cloud storage, anyone with access can quickly get the relevant documents. This will result in greater efficiency because everything is within easy reach. Depending on what you’re looking for, you can get functions such as HR management, administration of benefits, employee self-service, among others.

2. Storage of data

Gone are the days of needing large cabinets to keep relevant documentation. Now all you need to do is install cloud-based payroll software, and you no longer must worry about the safety of your data.

Whatever employee information you need to keep, including Tax information, employee records, and pay rates among others will be available to you anytime.

3. Avoiding Problems with IRS

Many software companies offer tax filing as part of the package. Every time you’re on the payroll, it takes care of this vital requirement. If you incur any penalties, the cloud-based payroll software company will absorb it.

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4. Everything Is Under One System

With cloud-based payroll software for accountants, you can easily integrate many of the back-office functions. Such include payroll, benefits administration, time management, among others. You are therefore able to keep track of everything from one place and provide necessary updates quickly. You will save time, as well as reduce the risk of costly errors. You also do not have to deal with so much data because you eliminate repetition.

5. You Do Not Need to Deal with Paperwork

People are becoming more conscious of anything that impacts on the environment negatively. The elimination of paper with cloud-based software solutions will help to eliminate waste and end up freeing up a lot of space.

6. Allows for Scalability

No one starts a business to stay in the same place. Cloud-based payroll software will eliminate any bottlenecks that come with sophisticated management practices. It will also help save money, which the business owner can plough back into other areas of a company. The system will also allow for secure handling of many employees while meeting their needs.

7. Accuracy in Reporting

The online payroll software operates in real time, thereby eliminating the time an employer wastes waiting for reports or updates. The employer will also always know what is going on, thus allowing for quick decision making. The result is higher efficiency with regards to how the business runs.

The payroll system is also a great way to let employers know what is happening concerning human resource laws. The company is, therefore, able to comply with the statutory requirements immediately.

8. Accessibility of Information

Cloud-based databases will make it possible for the business owner to access information wherever they may be. Unlike a physical cabinet, the data exists online, and even if you are not within the country, you will still be able to get it.

Office functions do not need to stop just because you are away. With internet connectivity, you can easily carry out your activities.

9. Cost-Saving in the Long-Term

While the initial cost of getting the cloud-based payroll may be a bit prohibitive, especially for small businesses, in the long run, it is worth it. If you take into consideration all the factors we have highlighted above, you will quickly see that having the system will help you run your business efficiently and effectively. You eliminate a lot of time wastage, which will result in the loss of revenue.

The modern business can no longer afford to operate in traditional ways. Cloud-based payroll software is a great way of increasing efficiency in the running of the company. Loss of data will be a thing of the past, and only those with access can see whatever information is in the cloud storage.

The result is that employee information remains confidential while giving the business owner an easy way to track everything that is happening within the organization. Employers also have the option of providing employees with some level of access so that they can manage some of the information. By giving employees access, it will take the burden of the business owner from having to handle everything on his own.

About Us

TechFunnel.com is an ambitious technology media web property dedicated to technology news, product reviews, and analyzing how technology affects business, finance, human resources, marketing, government, and everyday life. At TechFunnel.com, you will read the latest news and learn our opinion about product releases that are right for you. Watch videos about the latest trends in software, apps, games, AI, and virtual reality. Connect with a growing community of writers and editors who ask questions, seek answers, and innovate along the way in the realm of technology. In a medium that is meant to be effective and efficient, we strive to be both.

Bython Media Inc.

D.B.A. TechFunnel.com

8668 John Hickman Parkway

Suite 1004

Frisco, TX 75034

Phone: +1 (214) 295-7705

No matter how big your business, you have to pay your people. Even if you’re the only person on your payroll, it’s important to be able to track your expenses and comply with all employment laws and tax regulations.  Payroll challenges can be a fact for many small businesses, particularly in regards to missing deadlines or overlooking a regulatory change. In fact, according to one Inc. article, “IRS statistics show that roughly 40 percent of small businesses incur penalties averaging $845 a year.”

Automated HR solutions, like payroll software, can help your business establish a firm foundation of best payroll practices and avoid small business pain points, like filling out multiple forms for each new employee, meeting various state regulations, and more. One of the best-reviewed small business payroll software solutions is called Gusto.

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Is Gusto the right payroll solution for your business? Why do small businesses choose Gusto?

Gusto was ranked #1 overall payroll software by FitSmallBusiness in 2019 and was highly ranked by Fundera, andfor good reason.

Gusto has a lot of features that help to streamline HR operations for small businesses.

• Affordable: Gusto has three different subscription tiers, but they all are robust and affordable for almost any business. Plus each plan includes a free month of service so you can test-drive it at your business. All plans start at $45 a month, but here’s the breakdown of each tier.
•  
  • Core: The basic version of Gusto is anything but basic. For $39 dollars a month plus $6 per employee, you get a full-service payroll platform that includes tax filing and payments, coverage of all 50 states, both W-2s and 1099s, garnishments, holiday pay, payroll reports, unemployment insurance, direct deposit, e-sign for I-9 and W-4 forms, and compliance with ACA, HIPPA, and ERISA, plus dozens more features, like employee self-service onboard, health benefits and workers compensation administration and PTO tracking.
  • Complete: For the same monthly base rate plus an addition $12 dollars per employee, you get built-in PTO approval processes to go along with PTO tracking, plus employee survey tools to gather feedback. This is also the tier that enables You also have access to admin permission so that you can scale your HR team as your business grows.
  • Concierge: This software level starts at $149 per month plus $12 per employee managed on the account, but gives you the extra help you might need as a growing business through dedicated access to HR professionals who can help answer any employee or business questions that may come up.
  • Try customizing: Want to add extra HR benefits administration like 401(k)s, FSAs, commuter benefits and more? Gusto can help with that too, by offering a la carte pricing add-ons for features you might need.

• Feature-filled: What can you do with Gusto?
•  
  • Easily integrate with 3^rd party vendors: If you don’t want to pay for the Gusto timekeeping upgrade, you can integrate with the free timekeeping software Homebase. It also works with accounting apps like QuickBooks, Xero, and Freshbooks.
  • In addition to the tiered employee paycheck features, Gusto helps you do more by way of attracting and retaining talent. They can send out automated offers to candidates you’re extending an offer to, manage time off, and gather employee feedback so you can monitor team morale and performance. You’ll also have access to tools like org charts and an employee handbook builder to start growing the resources you can offer employees.

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About Us

TechFunnel.com is an ambitious technology media web property dedicated to technology news, product reviews, and analyzing how technology affects business, finance, human resources, marketing, government, and everyday life. At TechFunnel.com, you will read the latest news and learn our opinion about product releases that are right for you. Watch videos about the latest trends in software, apps, games, AI, and virtual reality. Connect with a growing community of writers and editors who ask questions, seek answers, and innovate along the way in the realm of technology. In a medium that is meant to be effective and efficient, we strive to be both.

Bython Media Inc.

D.B.A. TechFunnel.com

8668 John Hickman Parkway

Suite 1004

Frisco, TX 75034

Phone: +1 (214) 295-7705