What Is the Best Accounting Software for My Business?

November 15, 2019

Accounting software can help with tasks such as monitoring inventory, calculating profits and losses, and tracking expenses. Of course, which software title do you choose? It mostly depends on your budget and needs (for example, scalability potential or importance of receipt-counting versus inventory tracking). That said, many Los Angeles Tax Preparation services recommend one title in particular. It’s Intuit QuickBooks Online, and it satisfies the requirements of many small businesses. Los Angeles Accounting firms love it.

Four Tiers for Different Budgets and Needs

The software starts at $12 to $25 per month. (The variation is because pricing specials are frequent.) The basic level, Simple Start, allows for one user. Features include income, expense, sales and tax tracking, PayPal integration and receipt capture. You can also do inventory tracking and handle 1099 contractors. Simple Start is one of four tiers, the others being Essentials, Plus and Advanced.

• Essentials ($20 to $40 per month) adds the ability to manage bills and track time. Up to three people can use it.
• The Plus tier ($35 to $70 per month) supports up to five users. It includes the features of the previous tiers plus inventory tracking and project profitability. You get an overview of your projects in one place and can track job costs.
• The Advanced tier ($75 to $150 per month) supports up to 25 users. Additional features include custom user permissions, smart reporting and accelerated invoicing.

Options for Payroll Service

All four tiers have optional self-service payroll and full-service payroll. Self-service costs $18 to $34 per month plus $4 per employee per month. Full-service is $40 to $80 per month plus $4 per employee. These options enable your business to pay employees and contractors and to file taxes directly from the program, among other features.

Many Los Angeles Accounting firms recommend Intuit QuickBooks Online because of its flexibility and ease of use. It also integrates well if you outsource tax prep or other accounting tasks. Contact your accounting service today to make sure it works with this program.