Accounting is the backbone of every business. Without maintaining financial reports, it is tricky for you to know the position of your company and where you stand in the market. Therefore, if you run a small business, then you have to keep a tight grip on finances which is critical for your success. This is only possible if you employ good account reports software. A plenty of software are already available in the market, how do you make a choice and pick out a best one for your business? I know it’s kinda herculean task, but not to worry, this article is a solution for your accounting reports software.
Are you ready to make choices from the given list? If yes, let’s start and jump into the pool below.
The 5 worth using account reports software for your business
Make sure you thoroughly read software listed below. I am sure at the end of this article you will end up making a relevant choice for accounting report software.
The first software you can use to create accounting report is FinAlyzer. The software automates the entire process of management and financial consolidation, analytics, reporting, and dash-boarding. This software is very helpful if you have multiple businesses which require entities and reporting requirements. Moreover, the software is cost-effective, fast, and easy. FinAlyzer also provides pre-configured models for MIS, IFRS & USGAAP, IndAS, this eventually makes all roll-out faster and effective. Also, this software saves your time in making reports and helps you focus on analysing and making better decision.
Some features of FinAlyzer
- You can easily manage reporting like balance sheet, Cash flows, Segment wise profitability, Automatic cost allocation, actual, etc.
- It allows you to make accounting groups, Journals, Casting, Googwill, Period differences, etc.
- You can easily manage KPIs and management dashboard. Easily take corrective action with timely alerts.
FinAlyzer pricing plan starts at $29.00 per month. There is no free version this software offers, but you can use free trail.
Budgyt is an affordable accounting reporting software for small to midsize companies and non-profits. The software is very effective as it saves 80% of your time and expense on managing and building multiple departments or project budgets compared to spread sheets. No doubt, this is a highly adaptable cloud-based budgeting and reporting solution which makes it user friendly for both financial and non-financial members of your team. It also eliminates the risk of using traditional spread sheets.
Some features of Budgyt
- Instant access due to cloud technology
- The software helps you save up to 80 per cent of time and resources.
- It ensures the integrity of your data, which makes it intact by ensuring the formulas and links and you can’t change it even if you delete data. It features single data entry point.
The software offers various pricing models for profit and non-profit businesses. It doesn’t have any free plans. But it provides you with a free 30-day trial to test the software.
3. QuickBooks Pro
The third account reporting software you have is QuickBooks Pro. This is full-fledged accounting software that is amazing for small to mid-sized businesses. It provides you lots of features with 200 integrations and strong reporting. Well, this software remains on the top list of accountants, bookkeepers, CPAs, and other professionals. The software has well-reputation among its customers. But its pricing plan leaves the customers amazed.
Some features of QuickBooks Pro
- Easily accesses information of your customers, employees, and vendors.
- Helps you create industry-specific report templates
- It also creates professional looking invoices and forms
- You can save your worksheet formatting when you export QuickBooks reports to Excel.
The software doesn’t offer free trial. But it costs $299.95/ year for a single-user license. Its Plus subscription plan offers you unlimited support, automatic upgrades, automatic data backup, etc.
4. Sage 50cloud
This is best accounting software for making a financial report. The software is very popular since it launched back in 1980’s. The name of this software keeps on changing throughout the year. Well, it is more traditional accounting software providing you abundance of features and customization options. The features you get in this software are given at cost. Those accountants having knowledge appreciate the advanced features of Sage 50cloud.
Some features of Sage 50cloud
- Cash flow statement and billing & invoicing
- Receipt management project budgeting
- Helps you make general ledger
- Tax management and spend management
The software offers you several pricing plan that will fit your business. The pro accounting plan offers accounting features for a single user. The monthly plan starts at $50.58.
This software is best for traditional accounting. Xero software is designed for mid-to-large sized businesses and provides support to unlimited customers. Today, millions of users are using this software due to its abundant integrations and robust features it provides. And more than 16,000 accounting firms are taking advantage of this software. The drawback of this software is that its prices got increased recently.
Some features of Xero
- Provides invoice & estimates
- Journal entries
- Expense tracking
- Accountant access
- 800+ integration
Xero has three pricing plans. The first plan starts at $9/month. Second plan at $30/month and last plan at $60/month.
I hope you have thoroughly read about accounting software listed above in this article. I know selecting the right software is a challenging task but I am sure this guide might have helped you in making a right decision. Keep the features and pricing plans in mind and buy the software that fulfils all your business needs and requirements.
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