Online Accounting and Bookkeeping Services

Monday, 12 April 2021

Wave vs QuickBooks : Which is the best accounting software for small Business ?

Have you researched about the best accounting software for your business but still aren’t sure which accounting software product is right for your business? To make things a bit easier, we’re taking a look at both Wave vs QuickBooks Online, providing you with a side-by-side comparison of the two software which is helping you to understand the best accounting software for your business.

Who is Wave for?

Who is QuickBooks for?

Main Differences Between Wave vs QuickBooks

The main differences between Wave vs QuickBooks are:

QuickBooks offers an Android and iOS app, whereas Wave just offers an iOS app
QuickBooks always includes a monthly bookkeeping charge, whereas Wave has a free basic pricing plan for accounting and makes money on transaction fees
QuickBooks offers inventory management features, whereas Wave does not have inventory tracking

Final Desion ? Wave or QuickBooks ?

Deciding between QuickBooks and Wave as your accounting Accounting software depends on your business size, type, industry, and the features that matter most to you. And what's your business paling because of as per your business planning your business requirement is change and when your business requirement is changes then your accounting software change or upgrade. Wave is fantastic for early-stage businesses and freelancers, while QuickBooks scales beautifully and most accountants love it.

MAC also offer Wave to Quickbooks Conversion solution which is help you in migrate your accounting data without falling any business stpep or without effect of current business financial data.

Wave vs. QuickBooks: Select Best for you

Who is Wave for?

Designed for small businesses and sole proprietors, Wave makes it easy to keep track of your finances data. While the $0 price tag is particularly appealing to those just starting out, Wave offers solid accounting capability, and if you want to accept online payments, you’ll only have to pay the normal transaction fees you would pay using any other application.

For those who see themselves working solo for the foreseeable future, Wave offers all kinds of perks. However, if you envision your business growing and expanding, you may want to consider a product that can grow along with you.

Who is QuickBooks for?

Since its beginning, QuickBooks products have been designed with the small to medium business owner in mind, and QuickBooks is no different. QuickBooks works for small businesses, sole proprietors, and growing businesses, offering a single-user plan, but it can also scale up to a plan suitable for up to 25 users — perfect for growing businesses. QuickBooks is the fastest growing accounting software business solution provider who offer multiple accounting solution as per your business requirement and type.

Main Differences Between Wave vs QuickBooks

The main differences between Wave vs QuickBooks are:

QuickBooks offers an Android and iOS app, whereas Wave just offers an iOS app
QuickBooks always includes a monthly bookkeeping charge, whereas Wave has a free basic pricing plan for accounting and makes money on transaction fees
QuickBooks offers inventory management features, whereas Wave does not have inventory track in

Final Desion ? Wave or QuickBooks ?

However, one thing you need to make sure of regardless of your software choice is that it integrates with the rest of your tech stack.

MAC also offer Wave to Quickbooks Conversion solution which is help you in migrate your accounting data without falling any business stpep or without effect of current business financial data.

When you are choosing the right accounting software for your business, then its brainstorming process and before the reach out any conclusion about the right accounting software you need to ask to the expert who can help you in choosing the right accounting software for your business.

Contact us here for the choosing the best accounting software Wave vs QuickBooks and make your business next level enterprises.

Thursday, 8 April 2021

Signs that you are Hiring Excellent Bookkeeping

When it comes to Bookkeeping Services, you need to make sure that you are using the one service that is excellent and that is offering a great Bookkeeping service.

Signs that you are Hiring Excellent Bookkeeping Services:

They come to you

The first sign that you are going to hire a QuickBooks bookkeeper is if she is coming to you and your business. Yes, there are some of the bookkeepers that you need to go to in order to get up to date about your business. However, this is normally a sign of not using the best service.

The service has the Right Amount of Experience

The longer the bookkeeper has been doing this service, the more experience they will have. Then, you will know that your business is in good hands. Something that you will not know when the bookkeeper service is still new.

They have good communication skills

Another thing that you need to look at is to make sure that you have hired a great bookkeeper as if they are communicating with you in a professional matter. It doesn’t matter if you have a problem with the service that they deliver, or if you have any inquiries about their service.

Their fees are reasonable

When it comes to bookkeepers, you need to know when one of these services are known as the best bookkeeping service in your area. These are some of the signs that you need to look for if you want to make sure that you have hired the best service for your business. There are many businesses that regret using bookkeeping services that aren’t recommended. The only way to make sure that they are recommended is if you know the signs of an excellent bookkeeper.

Signs of an Perfect Bookkeeping Service

When it comes to Bookkeeping Services, you need to make sure that you are using the one service that is excellent and that is offering a great Bookkeeping service. However, the one thing that people are wondering about, is how do you know that you are about to hire an excellent Bookkeeping Services and not just any service that you might regret later on.

Signs that you are Hiring Excellent Bookkeeping Services:

They come to you

They are willing to come to your business every month for updates and to ensure that the books are in order. Don’t hire them if they aren’t prepared to do this for you.

The service has the Right Amount of Experience

It is important that the service has the right amount of experience. This means that you should make sure that you are going to hire someone that have years of experience and that have good reviews.

They have good communication skills

They are always communicating with you in a professional matter. And, you are feeling comfortable to contact them anytime.

Their fees are reasonable

When a bookkeeper is delivering high-quality service, they don’t need to ask high fees. They know that they have a couple of clients that are satisfied and they know that reasonable prices are just going to make them even better.

However, this doesn’t mean that you should go for the cheapest bookkeeper service that you can find. This doesn’t mean that they are the best. This only says that you don’t need to hire the most expensive bookkeeper service to get a high-quality service from them.

Best Retail Business Accounting Software

Opening a retail store is a big accomplishment. Whether you have a traditional brick-and-mortar operation, or you’re going all-in with an online store (or even a combo of the two), retail lends itself especially well to scaling and delegation. This allows you, the business owner, to enjoy the profits from your business without having to be entrenched in the day-to-day operations of the store.

To enjoy any possible profits of your retail store, however, you have to remain organized and properly manage your finances—making the right retail accounting software essential for Bookkeeping for Retail store.

With this in mind, you might start your search with these options—some of the top retail accounting software solutions on the market:

1. QuickBooks Desktop

2. QuickBooks Online

3. Xero

The Bottom Line

At the end of the day, these are just a few of the retail shop accounting software options that are available out there. Ultimately, therefore, it will be up to you to decide if one of these solutions or an alternative platform is right for your business.

Additionally, you’ll want to consider the flexibility, accessibility, and of course, affordability of any retail accounting software—especially if you have multiple locations or run an online-based business. To this end, you’ll also want to ensure that any platform you choose can integrate or work with any existing business tools you utilize, particularly your point of sale system or ecommerce software.

Top Accounting Software for Retail Business

1. QuickBooks Desktop

As you search for the right retail shop accounting software, there’s no doubt you’ll come across the QuickBooks suite of products. QuickBooks is one of the most popular accounting solutions for small businesses out there—and for good reason.

In particular, the more traditional QuickBooks Desktop is a great option for brick-and-mortar retailers.

With QuickBooks Desktop, you can:

Track income and expenses
Create and send invoices
Run over 100 reports
Track sales tax
Manage bills and accounts payable
Track inventory with up to 14,500 items
Pay 1099 contractors

2. QuickBooks Online

When it comes to cloud-based retail accounting software, QuickBooks Online is going to be one of the best solutions out there. Similar to QuickBooks Desktop, QuickBooks Online is known for its reliability, range of features, and powerful accounting tools.

Unlike QuickBooks Desktop, however, QuickBooks Online is web-based—meaning you can use your account anywhere you have internet access. In this way, QuickBooks Online is a much more flexible solution, making it a great choice for multi-store retail businesses, as well as online retailers. QuickBooks Bookkeeping Services helps you in manage your accounting services with Quickbooks.

3. Xero

With unlimited users, inventory management included in all plans, and over 700 third-party integration options, Xero accounting is one of the best accounting software solutions for online retail businesses. A top alternative to QuickBooks Online, Xero offers many of the same features, with a few slight differences.

First and foremost, as we mentioned, Xero includes unlimited users with all three of their plan options, as well as inventory management tools, among a full range of standard bookkeeping and accounting features.

Additionally, Xero’s three plans fall at a generally lower price point in comparison to QuickBooks Online, with the Early plan starting at $9 per month—although this plan limits the number of invoices, quotes, bills, and transactions you can make on a monthly basis.

The Bottom Line

This being said, as you compare different options, you’ll want to be sure to pay attention to their general accounting tools, as well as the features that are more specific to retail businesses—like inventory, sales tax, and payroll.

Monday, 5 April 2021

6 Bookkeeping Pains An Outsourced Bookkeeping Service Can Resolve

For many businesses, their bookkeeping causes a lot of pain. However, when handled correctly, there are many pains that proper bookkeeping can remedy. Common reasons that bookkeeping causes pain are: it is intimidating, people don't like it, and it's often way behind because it gets pushed to the back burner.

1.) Time Crunch

There is never enough time to accomplish everything in your small business, is there? People often use time as an excuse for not performing a task when they don't want to attend to it or don't know how to get it done.

If you don't find it practical to do your bookkeeping because it takes you away from more critical business tasks, then you should probably outsource it.

2.) Stress and Anxiety

When you start talking bookkeeping and taxes with many business owners, you often trigger a worried look. Bookkeeping can cause a lot of anxiety and worry for the small business owner, but for outsourced bookkeeping experts, it creates an opportunity.

Creating the proper bookkeeping system and giving a business owner a set of books that adds value will reduce their anxiety and worry when it comes to their business finances. Quite often, the key is accurately updating the books regularly.

3.) Access to Updated Information

Another pain that bookkeeping can create is a lack of access to updated information.

New clients often complain that the books are behind and inaccurate. Business owners complain that they don't get reports from their bookkeeper often enough, and when they do, they don't contain accurate or relevant information.

4.) Access to Relevant Information

If you don't have updated information, you likely have no idea of where your business stands, and if you don't have access to the relevant information you surely have no idea where you are going.

Outsourced bookkeeping services should not only give you a firm grasp on where you currently stand as a business but more importantly, where you are going. Your small business financial reporting should not only identify possible issues but opportunities as well.

5.) Ability To Adjust

An inability to adjust to happening changes can be a huge pain point.

If you don't know where you are at or where you are going, you are in the wrong spot. This position leaves you incapable of making the proper adjustments to keep your business on track.

A robust bookkeeping system will keep you fully in tune with the financial aspects of your business. This will give you the flexibility and power that you need to make quick adjustments in your business to overcome market changes and take care of opportunities that present themselves.

6.) Taxes

Taxes are painful for a lot of businesses. If you are continually filing for extensions or have not filed taxes at all, then you are feeling a lot of pain.

Business owners hate taxes, but too many of them take a reactive approach to taxes rather than a proactive approach. You should be reviewing your tax situation with your CPA at least semi-annually if not quarterly.

If your bookkeeping system is not kept current, then you have no way to solve your tax pain.

Fortunately for many small business owners like you, it is never too late to get your bookkeeping on track with the support of the best QuickBooks bookkeeping experts. Schedule your free consultation with us today.