Top 10 Accounting Software for small business according to Fool.com
Fool.com released an article with its top 10 picks for best accounting software for small businesses in 2022. At the top of their article they provide the following alert to be fully transparent with their readers.
Many or all of the products here are from our partners that pay us a commission. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.
It's difficult to know with full certainty from this language if this is pure pay-to-play recognition or if they mixed in a level of real product evaluation and/or customer feedback to come up with these results. Either way, we do know some of the names listed here are some of the top accounting software adopted by Small Business, so their list does have a level of credibility by including those. We also know Fool.com is a top ranked provider of financial news.
If you’re a small business you are likely already using Quickbooks or any of the other software listed here.
How does the category of Accounting Automation software differ from the Accounting software listed on this article?
Traditional accounting software will track your business transactions including your expenses and revenue. Many SMB accounting teams will use this information as their baseline to support the financial close, financial consolidation, account reconciliation and other common activities. While some accounting software permits you to complete these items directly within the software, they tend to be limited and their value is more centered on tracking your invoices across A/R and A/P and canned reporting. Most accounting teams need greater flexibility than what traditional accounting software provides.
For this reason, most accounting teams turn to the familiarity of spreadsheets where they can build any template their heart desires. The downside is that spreadsheets result in a massive amount of time wasted in having to manually download data from the accounting software to then load and format their spreadsheet templates. Consolidating and linking data from multiple spreadsheet files is another guaranteed method to waste time and generate errors.
How do you know if your accounting software is too limited to manage all of your needs? If you find yourself downloading data to spreadsheets to manage the financial close and consolidation, then that’s your answer.
Is there an alternative way ?
Accounting Automation software like FinLogic.io will not manage your A/R and A/P, but it will take that data in an automated way and provide you with a more powerful platform to close your books and consolidate faster and with less errors.
FinLogic.io was designed to amplify the potential of your spreadsheet models. It converts Google Sheets into a robust corporate system to automate your accounting and FP&A activities. It accomplishes this by allowing users to remain within the spreadsheet window they know and love while embedding enterprise features like a centralized data cube and workflows.
Learn how to automate your accounting by connecting FinLogic.io directly to your preferred Accounting Software, be it Quickbooks or another.