Managing financial and accounting activities for a business involves a lot of work. Making an error is not so affordable as it is going to hurt your reputation as a bookkeeper, accountant, CFO or any other professional in the industry.
This is where software and tools emerge as possible solutions to our accounting and bookkeeping challenges. Choosing the right tool can make your life really easy. Tools not only automate and speed up your accounting tasks but also minimize the risk of errors.
To help you make the most out of the available AP automation, here are the best tools for small and medium-sized businesses:
Quickbooks is all-inclusive automated accounting software for small businesses that lets you handle bookkeeping, sales tax, expense tracking, invoicing, and other accounting tasks. With Quickbooks, you will be able to automate the process of entering transactions, perform tax calculations, track bills and expenses, create invoices and have your business clients pay you directly via PayPal, debit card or credit card.
Botkeeper provides automated bookkeeping support to businesses by using a powerful combination of skilled accountants alongside machine learning and artificial intelligence (AI). They offer 24/7 accounting and support to their clients as well as incredible insight into their financials with beautiful dashboards and unlimited reporting.
TaxJar is the leading technology solution for busy eCommerce sellers to manage sales tax, and is trusted by more than 15,000 businesses. They help businesses and developers spend less time on sales tax and more time growing the businesses.
Paro is a network of top-tier financial professionals offering CFO leadership, financial planning and analysis, accounting, bookkeeping and more. Paro is an on-demand finance department to small and medium sized businesses. Paro’s foundation is their network of highly-vetted finance talent, composed of the top 5% of bookkeepers, CPAs, financial analysts, and CFOs. When businesses have a finance or accounting need, they match them with the ideal expert based on a variety of factors: skillset, industry experience, technology proficiency, budget, personality, etc.
Rize is a new online savings platform that allows people to save automatically each month towards their financial goals. It uses one account to set, save, and track all of your financial goals. They offer a 0.90% APY, which is 15x higher than the national average. Rize accounts are also SIPC insured up to $250,000, and Rize uses 256-bit encryption end-to-end.