Good bookkeeping is essential to a business’ success. Keeping track of finances, expenses, invoices, and payroll is key for managing cash flow and making sure your costs are under control.

The best bookkeeping software can help you stay on top of your business finances more effectively. But bookkeeping software is useless if it is too complicated for you to understand or utilize fully. Finding easy bookkeeping software that suits the needs of your small business is your best chance at financial success.

We have put together a list of some of the industry’s easiest bookkeeping software for small business that we love to work with. Whether you work with a professional bookkeeper full or part time, these programs offer advanced functions and integrations to keep your business moving forward and keep you on top of your finances.

Learn more about what you should look for in simple bookkeeping software by contacting our team of CPAs.

Why Your Business Needs the Easiest Bookkeeping Software

Many small business owners work with outsourced accountants and bookkeepers to handle their company’s finances. At Accountor CPA, we are passionate about helping small businesses succeed by taking on the complex bookkeeping and accounting processes that are a concern for business owners. We know how important it is to free up a business owner’s time so they can focus on what matters most - running their business!

If your bookkeeper or accountant handles all your bookkeeping, why does it matter to you what software they use?

Bookkeeping alone is useless to a company if it is not understood, analyzed, and used to make business decisions. Even though your bookkeeper will be able to handle day to day operations and tracking, you need to be able to understand financial reports generated so you can use the information to make informed business decisions.

You may also need to use the software to manage invoices and customer relations, get a snapshot of your bank and credit transactions, and view employee productivity or projects. To do this, you will need easy bookkeeping software that you can utilize without a headache.

Choosing easy bookkeeping software when working with a professional bookkeeper allows you to stay involved in the process and have a better handle on your company’s finances and day-to-day operation, even when you have outsourced the daily tasks.

The 4 Easiest Bookkeeping Software in 2021

Our picks for the easiest bookkeeping software for 2021 are:

• Xero
• QuickBooks Online
• FreshBooks
• Wave

These are some of Canada’s most popular bookkeeping software programs. Each offers its own benefits to small businesses and features third party integrations, customizable dashboards and reports, and functions for invoicing and banking.

Xero and QuickBooks Online are the two top contenders for the easiest bookkeeping software of 2021.

Xero

Xero is perhaps the most simple online bookkeeping program that caters to small business. Its dashboard is fully customizable and very user-friendly and it is cloud-based, giving you reliable and secure access to your bookkeeping information from anywhere at any time.

One of the greatest benefits of Xero is its massive integration capabilities. It can be integrated with a number of third-party apps and programs, including Stripe, Paypal, Wagepoint payroll, Deputy timetracking, Receipt Bank, and many, many more. Its App Marketplace gives plenty of options for integrating so you get all the bookkeeping and accounting services you need in one place.

Xero also provides excellent scalability for growing businesses. You can easily add and manage new users so that as your business grows, you can grow your bookkeeping software demands.

QuickBooks Online

QuickBooks Online is a great and simple bookkeeping software used by small businesses and large corporations alike. It is also used widely among accounting professionals.

Like Xero, it is cloud-based so can be accessed easily through a web browser or their mobile app for when you’re on the go. It has very scalable options and is fully customizable to suit your business’ needs. It offers more advanced functions like inventory management, budgeting, and time tracking should your company need these.

QuickBooks Online also boasts great integration with third-party apps and other accounting or bookkeeping software. It integrates seamlessly with many payroll applications, Stripe, PayPal, and more. Whatever level of bookkeeping you need, there is a package in QuickBooks online.

Features to Look For in Simple Bookkeeping Software

There are many functions and aspects of bookkeeping software that can make it a useful tool. When working with a professional bookkeeper, you may not need to use all of the day-to-day features, but your software should still provide everything you need. You and your bookkeeper can work collaboratively with basic bookkeeping software to fully utilize the features that benefit your business.

Here are some of the core features you should look for in any easy to use bookkeeping software or app.

Customizable dashboard

When you or your bookkeeper log into the account, the first thing you see is a dashboard that gives you an overview of your account activity and key metrics. Good bookkeeping software will allow you to customize this so that you can see metrics that are relevant to you immediately.

Invoicing

Send invoices through bookkeeping software and even issue recurring invoices automatically to save time. This is one feature that a business owner may choose to oversee themselves even when working with a professional bookkeeper. Automating the process reduces the opportunity for error and saves you hours each week. You can also send customers reminders about upcoming or past-due payments automatically.

Accounts payable and receivable

You should be able to maintain your accounts payable and accounts receivable even in the most basic bookkeeping software. Keeping these organized automatically is a key feature of this software.

Bank and credit card syncing

This allows you to receive a daily update of your transactions automatically. You can have a regular overview of your accounts to assist with reconciliation, cash flow management, and even checking for fraudulent purchases - all automatically.

Financial reporting and financial statements

Easy bookkeeping software requires functions for generating financial reports and prepping financial statements. Some software has more robust functions than others. While your bookkeeper and accountant will be the ones running these reports and creating financial statements, it is important to be working with a software that reports on the metrics you need to understand.

Mobile apps

Some simple bookkeeping software is available on mobile apps as well. If you are always on the go, this function can be imperative for getting a full view of your finances regularly while you’re away from the office.

Integrations

Do you need integrations with time tracking software? What about payroll? Scheduling? Payment processors or point of sale systems? Not all bookkeeping software can integrate with third-party apps and software. Your bookkeeper needs to ensure that your bookkeeping software integrates with the programs you use, or make recommendations for more suitable programs.

Online payment collection

Do your clients prefer to pay invoices online? Then your bookkeeping software needs to include or be easy integrated with an online payment collection program.

Inventory management

If you have a retail or distribution business, your bookkeeping software should also help you manage your inventory. It’s easier to work with one system for all relevant functions as opposed to multiple online platforms.

Project management

Keep your tracking centralized when you choose a simple bookkeeping software that also helps with project management. You can organize projects and staff while seeing the impact on the budget and finances all in one application.

Managed user access

Most small business owners will need access as well as an accountant or bookkeeper. But does your management team, department heads, or shareholders need access as well? Bookkeeping software should allow for detailed managed user access to allow certain users to see information relevant to them.

No two businesses are alike, and no two bookkeeping software programs will be alike either. Working with your bookkeeper to find scalable and customizable features is the most important part of choosing bookkeeping software and ensuring that it is easy to use.

How Much Does Simple Online Bookkeeping Software Cost?

One of the biggest advantages of simple online bookkeeping software is that it is completely scalable and customizable, and this is reflected in its price.

If you are a start-up with fewer than five employees and few expenses and invoices on a regular basis, your rates will be lower than a corporation with hundreds of employees and millions of dollars in regular cash flow.

At Accountor CPA, we offer basic bookkeeping software packages and more advanced and robust packages so you can pay for the level of service you need and receive all the necessary functions for your company.

How Can I Choose Easy Bookkeeping Software?

The best way to choose easy bookkeeping software for your small business is by consulting with a professional bookkeeper or Chartered Professional Accountant (CPA).

At Accountor CPA, we are happy to work with our clients to find the bookkeeping software that is best for their business and that they can truly get the most out of. Whether you choose to outsource your bookkeeping completely, or still handle a few functions yourself, it is imperative that your company works with a simple online bookkeeping program that can get the job done.

Get a free consultation to learn more about how your bookkeeping can be streamlined and simplified!