Accounting software for small business contractors is an essential resource to have in your arsenal, but it’s not always straightforward to find the right one. Just like everything else in life, you have to do your research before making a purchase. So whether you’re just starting out or already started your own business, you should take a closer look at this online review of some of the top accounting software for small businesses.
Our Top 5 Best Accounting Software For Small Business Contractors
Best Accounting Software For Small Business Contractors Reviews
1. Best Overall: FreshBooks
Are you new to the world of accounting, or are you transitioning your business away from time-consuming Excel spreadsheets? If this sounds like you, Freshbooks is for you. This accounting software provides simple features to help ease the process and anything else your company needs when it comes to tracking time, expenses, and income.
In addition to being able to track projects with a completely customizable interface that makes it easy for contractors and freelancers around the world, these features also ensure that no one source is bigger than anyone else’s.
Freshbooks Features
- One of the easiest ways to start using Freshbooks is by simply downloading the software. In addition to the standard features, you can also take advantage of many additional tips and tricks that make it easier than ever to manage your finances.
- With Freshbooks, users can create invoices with quick and easy billing without relying on complicated options like PDFs or emailing invoices. In addition, the system provides a simple interface for contractors looking for an all-in-one solution rather than having to install conflicting apps on their computers.
- Forget about remembering all individual expenses. You can even track your clients with an easy-to-use and reliable system that will make sure no important invoice goes unnoticed. With the ability to create a client’s profile, you’ll also be able to see what their preferences and goals are.
- Free up time for more meaningful work by using Freshbooks for managing your invoices, referrals, and expenses.
2. Best User-Friendly: Intuit QuickBooks Online
With over six million small businesses in the U.S., it’s no wonder that many of them use Intuit QuickBooks Online or other software for their accounting needs. Using this tool reduces the amount of time, stress, and effort it takes to keep track of all the data involved in a business, most notably customer finances.
However, you may not be the ideal candidate for using this program if your company is too small or doesn’t require much flexibility with their available accounts – but there are other options as well.
Features Of Intuit QuickBooks Online
- Intuit QuickBooks Online is a powerful account management tool, but it isn’t ideal for all business types. The following are some of its most valuable features:
- Simple to Use. This tool can run on multiple devices and is simple to use since it allows you to access your online accounting reports anywhere, anytime. You can even create customized invoices and send them through the web.
- This tool can run on multiple devices and is simple to use since it allows you to access your online accounting reports anywhere, anytime.
- Customized Invoices. With this tool, you can create and send personalized invoices to clients. You can even create a custom logo and a message that is included on the itemized invoice with this tool.
- Cloud-Based Accounting Software. This software has an easy-to-use online platform through which you can view all financial information from anywhere at any time, even if you are not at your computer working with it. The service works on desktops, laptops, tablets, etc.
3. Best for Manage All Phases of Construction: Sage 100 Contractor
If you require an accounting program for your small business, Sage 100 Contractor should be at the top of your list. Often, small businesses do not need higher-level accounting software because they do not generate enough revenue to justify using those programs.
Sage 100 Contractor has all the features that you would expect from a general accounting program while still being very easy to use and affordable for any sized company. Sage 100 Contractor comes with the following features:
- Standard job costing tools (job costing reports, variance analysis)
- Customizable invoicing forms/templates and reports for your clients.
- Vendor and employee tracking for payroll reasons.
- Tracking of time charged to a client. (Employees do entry of time on their computers, and then the information is entered into Sage 100 Contractor)
- Robust accounting module including multi-currency functionality, cash basis accounting, as well as accruals and deferrals.
There is also an option to use the actual tax rate to calculate taxes in different states, so you may pay the right amount of tax depending on where you are working.
4. Best for Integrated Add-Ons: Xero
Xero is the world’s most simple accounting software for small business contractors. I’ve been a contractor for many years, and I can tell you that this software will save you time, money, and headaches.
The best thing about Xero is that it’s designed to be used by anyone regardless of their level of experience with accounting or business. So if you have no experience at all or an accountant who hates being tied down to your desk, Xero has the perfect solution. They also use more than 100 different currencies in their system, making it great for global businesses.
The app has been designed so that it’s elementary to understand. This makes Xero a very beginner-friendly accounting system. If you know what you’re trying to achieve, you can quickly get the information you need to make your business successful.
To view and use this software, all you have to do is sign in using your email address and then select which type of user you are: a registered user or an unregistered guest. As an unregistered guest, you can only see some information, but none of it will be real-time, which means that there’s no way for a customer or client to see any financial details.
5. Best Affordable: Wave
No more endless spreadsheets and incomplete records! You can finally make sense of your business finances with Wave, powerful accounting software for small business contractors.
Here are the features that make this affordable software so effective:
- Automatic tracking of timesheets. Track invoices, track timesheets, in one place – all automatically generated!
- Online payroll. Pay your employees on the go – no switching between spreadsheets or clunky systems anymore!
- Advanced scanning tools to scan documents and import them directly into Wave’s database for easy reference. Scan and upload receipts or paychecks easily with our scanner tool.
- Employee data entry template that prevents errors by automatically populating fields with information you’re inputting.
Buyer’s Guide
Before choosing the best software for small business contractors, you need to know something. The first one you need to take into consideration is the size of your business. If you’re a one-man-band with a laptop, you may not require anything too complicated. However, if you have multiple employees and a steady income coming in, your accounting software should accommodate this growth. It needs to be flexible enough to expand with the changing nature of your business.
Accounting systems are often divided into two categories: Cloud-based systems, meaning they are stored on the Internet, and On-Premise software, which is a locally installed system. The cloud-based system has its advantages such as lower cost and ease of use, but it is also not safe from hacking attacks.
What Is Accounting Software For Small Business Contractors
Business accounting is the systematic recording and reporting of all business transactions for internal management, audits, tax, and legal requirements. It is one of the most important aspects of any business.
Business accounting software develops a complete record of your business in a format that you can use to track your expenses, income, and balance. These are stored in a database, so it is easy to maintain a complete record of the transactions that occur within your business; this helps you ensure that you are not going over budget on any one element. You can also ensure that you have accurate records on all elements, so there is no missing or inaccurate information, leading to many difficulties in later years.
Accounting Software For Small Business Contractors Features
You may be looking into accounting software for small business contractors because you’re already in the game and want to expand, or maybe you just want to keep better track of your money. Whatever your reason, these features may be what you need.
There are a few different features that you should take into consideration when choosing this kind of software.
Accounting software for small businesses can help you ensure that everything is on the up and up in your business if it enables you to make essential decisions regarding costs and revenue. It also helps with tax time because it is easy to compile information for taxes and ensure accuracy.
In short, accounting software for small business contractors can help with all aspects of your business to keep it organized and running efficiently.
Considering the features you want in accounting software for small business contractors, and make sure you find one that has those features. You may also want to find out if the program offers good customer service or a support team that will help you with any questions about the product.
FAQ
What Is The Best Accounting Software For Contractors?
The best accounting software for contractors is Quickbooks. It’s software that many small business owners use to track their income and expenses. Quickbooks has been well received in the industry because of its ease of use, combination with other apps, and ability to sync with their other business accounts on Google, Dropbox, or iCloud.
Other popular accounting software for contractors are Intuit Quicken and Microsoft Money. Both have an app available for Apple users but are not as good as Quickbooks in terms of features and quality.
Is Quickbooks Good For Contractors?
Yes, it is. Quickbooks is the market leader in small business accounting software. It makes time-saving and agile financial management a breeze. The software takes care of important tasks such as setting up projects, tracking expenses and taking minutes at board meetings. And best of all, it’s easy to use! Quickbooks offers a free trial, so you can try before you buy. So if you’re in the market for reliable accounting software or just updating your office technology to put things on paper digitally, give Quickbooks a try today.
How Do I Book A Small Construction Business?
Bookkeeping can be overwhelming for small construction businesses. Fortunately, there are many accounting software on the market today. So choose the favorite one and bookkeep with no fuss.
