Top 10 Online Accounting Software: Ratings and Reviews

Online accounting is designed to automate the treasury function of big organizations which also includes banking operations. Designed to manage all the tasks related to online transactions comprising keeping the track for each incoming and outgoing money in a business, managing all money-related jobs and monitoring each and every move. There are many companies out there offering quality systems for online accounting, but it quite difficult to choose one of them. To help you in selecting the best product for online accounting, Virtuous Reviews is available anytime you need.

The professionals working at Virtuous Reviews use their specialized knowledge in generating unbiased reviews and ratings. These reviews and ratings enable you to have an insight about different tools designed to perform online accounting functions. Since our reviews are derived from users and industry experts, we believe in offering quality service to our users. With the help of our ratings, a user will be able to understand each bit of online accounting and also it will help in their informed decisions.

How to choose the right online accounting software for your business?

Budget

Before you begin the process it is worth thinking carefully about how much you are willing to invest in this project. This will then help narrow down your search by determining which providers you can test based upon whether their price offering fits within your budget. Be sure to conduct a cost benefit analysis.

Determining Your Need

Analysing the need of the online accounting software is necessary to be able to decide the kind of software required by you.

Easy Accessibility to the Users

The advantage of using the accounting software is that this software can be accessed by all the authorized personnel from anywhere all across the globe. The updation of the information can be done at any time, from anywhere and at any moment.This also makes everyone’s communication with the accounting department easy and effective.

Integrating Invoicing Software

Integrating invoicing software with your online accounting software makes the automatic adjustments of the financial records when an invoice is sent and/or paid. There is no requirement for data to be entered twice and there is no chance of missing the data of the invoice.

Security

Ask providers about where their/third party servers are based and the security measures they have in place to safeguard your financial information. Be sure to check how files are backed up. How often does this happen, where is the backup data held and in the event of fire, flooding or theft ascertain how recent would the latest backup be? Then you will know exactly how much data you could potentially loose in the event of a disaster scenario.

Free Trials/Demos

Test driving the software before purchasing makes you analyse the usefulness of the software for your business.

Quality of Customer Support

Usage of the software will for sure create certain situations which would require the assistance of the vendor. Therefore, it is necessary for you to ensure that the vendor has helpful and knowledgeable support staff.

Features:-

• You can create and Email quotes, recurring invoices and statements direct to customers and clients.
• Stay in sync with your bank - Automatically download, categorize, and reconcile bank and credit card transactions.
• Track all stock movements including sales and streamline invoicing by adding products.
• See your Profit & Loss, Balance Sheet, and dozens of other reports in one click.
• Backs up your data everyday with bank-level security.

Benefits:-

• Easy to use, and has adapted to do most of the work for you. Maintaining data is easy, and quick, allowing you to keep on top of your accounts without having to master complex software.
• Security - Ensure the absolute safety of your accounting details, and make it easy to invoice clients, and check your business’ financial situation anytime.
• Efficiency - Transactions only need to be entered once. The software then updates the ledger and financial statements and reports can be generated with ease. Any adjustments or corrections are usually real-time and flow through the reports immediately.
• Cost effective - the most affordable way to manage your accounts.