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Tag: Accounting Tools

  • What is Black Friday? | Products Entrepreneurs Should Buy during Black Friday

    King of the discount season “Black Friday” has arrived with lots of discounts and amazing deals. Varieties of products over the varieties of categories are ready to get sold with huge price discounts to make customers feel delighted. This Black Friday discount season brings a great opportunity for every entrepreneur who has a bucket list of products to purchase for their business needs.

    Start your shopping for your business needs without putting stress on your pocket by leveraging the benefits of Black Friday discounts. But Wait! Also Curious to know the Best Black Friday deals on the most used and popular products for your business. Here we are with the most popular Black Friday deals on widely used products by entrepreneurs.
    Black Friday is the day when everyone is looking forward to buying their most wanted pricey product such as software, Hardware, Electronics, furniture and so on at a low rate.

    What is Black Friday?

    What are the Products every entrepreneur should look out for during Black Friday?

    CRM products

    Web hosting and web development products

    Accounting products

    Customer service products

    Marketing products

    Designing products

    Vpn and Cyber security products

    Team Management products

    Smart life products

    Electronics products

    What is Black Friday?

    So, here is the big question, what is Black Friday? Why is it called Black Friday and not Black Thursday or Saturday? What is the reason behind this big shopping season?
    Generally, Black Friday is followed as a custom in the countries of- the United States, Canada, United Kingdom, Romania, India, Mexico, France, Switzerland, Germany, Australia, New Zealand, Norway, Middle Eastern countries and other countries in South Africa.

    It was initially introduced back in 1952, when the concept of Santa Claus Parades was renowned and celebrated after Thanksgiving, where the word ‘Black’ refers to calamities that befell (throng over shopping) and the encounter of the day ‘Friday’ occurred in history two times.

    Likewise, the United States kept a traditional way of doing commercials all over the country after getting inspiration from Santa Claus Parades. Whereby many stores offer highly promoted sales at a discount rate on Black Friday and in some cases, they even open the sale very early, say, midnight.

    Moreover, the shopping season doesn’t end with Black Friday, it extends from Thanksgiving, Small Business Saturday, Cyber Monday, Giving Tuesday, and Christmas till Buy Nothing Day.

    Best Black Friday Campaigns That Made History
    Discover iconic Black Friday marketing campaigns that boosted sales and set trends for retailers worldwide.
    StartupTalkyRishi Mundra

    What are the Products every entrepreneur should look out for during Black Friday?

    Apart from the benefit of buying products at a discount rate, what should every entrepreneur buy on Black Friday? The hunt for the best deals on Black Friday is a hectic task, where entrepreneurs should analyse the best place, price, and brands before buying the products. Here are some things, that an entrepreneur should lookout during Black Friday 2022

    CRM Products

    Customers are the key to unlocking the door of success for every business. The relationship of your business with your customers decides the growth and sustainability of the business. So, CRM products are the main requirement for entrepreneurs to maintain a healthy relationship with customers. It provides all the essential facilities to execute the business seamlessly and satisfy customers.

    Zoho CRM

    Rating: 4.0 / 5
    Pricing: Starts From Rs1300/month

    Zoho CRM is a customer management software solution offered by Zoho. It helps to automate most of the workflow to save sufficient time and focus more on other aspects of lead, deals, and contact management. Fulfilling the gap between customers and the support team efficiently can be done through Zoho CRM seamlessly. The best-in-class lead management feature of Zoho CRM will help to nurture the possible lead into a conversion.

    Plans:

    Plans Pricing
    Monthly
    Standard INR 1300/user/month
    Professional INR 2100/user/month
    Enterprise INR 3000/user/month
    Ultimate INR 3200/user/month
    Yearly
    Standard INR 800/user/month
    Professional INR 1400/user/month
    Enterprise INR 2400/user/month
    Ultimate INR 2600/user/month

    NetHunt CRM

    Rating: 4.7 / 5
    Pricing: Starts from $30/user/month

    NetHunt CRM is loaded with all the essential features of traditional CRM software and some exclusive features like Gmail and Google workplace integration, data studio integration, and automatic email linking. It holds all the data of your customer journey and interaction with your product and service to deliver the best support facility. From the time a customer discovers your product to the time of final purchase, it stores everything.

    Plans:

    Plans Pricing
    Monthly
    Basic $30/user/month
    Business $60/user/month
    Advanced $120/user/month
    Yearly
    Basic $24/user/month
    Business $48/user/month
    Advanced $96/user/month

    Deal: 20%OFF on any plan for 12 months,
    validity- 25 Nov – 13 Dec 2022
    Coupon Code- NH_BF_2022

    Salesflare

    Rating: 4.8 / 5
    Pricing: starts from $29/user/month

    Salesflare CRM offers hassle-free management of customers in a whole cycle of interaction with the product. Make your business ready to manage your existing customers and potential customers with this powerful and interactive CRM platform. Ticketing the issues and solving the query of customers is now very easy. So go ahead and avail the benefit of Black Friday to lock in the best deal.

    Plans:

    Plans Pricing
    Growth $29/user/month
    Pro $49/user/month
    Enterprise $99/user/month

    Deal: 20%OFF for 6 months on the pro plan
    Validity- till 31st Dec 2022
    Coupon Code- BF22

    Web hosting and web development products

    Web hosting and web development products are undoubtedly a necessity for entrepreneurs in today’s digital era. These products will help to build an online presence to offer the services and create trust among the people. Varieties of products fall under this category to support your business needs. Hosting, domain registration, SSL certificate, Email, and website builders are the most popular ones. So onboard your business online by availing the benefits of Black Friday on these products.

    BlueHost

    Rating: 4.9/5
    Pricing: Starts from $2.95

    Bluehost, a web hosting company, provides almost all of the hosting services you would want, including advanced hosting like VPS, a dedicated server, and managed WordPress hosting. It offers top-notch hosting at an affordable price and supports its offerings with helpful assistance.

    BlueHost provides 99.99% uptime, is inexpensive, and is simple to use. Small online firms and entrepreneurs are its target audience. The budget-friendly hosting plans from Bluehost provide unlimited bandwidth, a free worldwide content delivery network, free Cloudflare integration (speeds your site loading) and Secure Socket Layer certifications. On a robust and tested infrastructure that is optimised for security and efficiency, there are also free daily, weekly, and monthly backups available.

    Plans:

    Plans Pricing
    Shared $2.95 – $13.95 per month
    VPS $18.99 – $59.99 per month
    WordPress $2.75 – $13.95 per month
    Dedicated $17.99 – $119.99 per month

    Here is an exclusive Black Friday deal on BlueHost: Over 80% OFF ON WEBSITES AND ONLINE STORES (on select plans)

    Fastcomet

    Ratings: 4.2/5
    Pricing: Starts from $111.19/month

    FastComet is a hosting platform specifically for small and medium-sized business owners. It furnishes 24/7 technical support in case of bugs. It has WordPress LiteSpeed Cache (LSCWP), and Free CDN, NVMe SSD, AMD EPYCTM CPU which ensures 7% enhanced optimised hosting.

    Web application firewall (WAF), daily malware scans, and SSL certificates are the arrangements done by FastComet for privacy and security concerns. Free bundled services, DIY frameworks, and cPanel hosting are other prominent features of FastComet.

    Plan:

    Plans Pricing
    Shared $8.95 – $24.95 per month
    VPS $65.95 – $153.95 per month
    Dedicated $152.95 – $383.95 per month

    Here is an exclusive Early Black Friday deal on fastcomet: 30% off on Dedicated Server Plans + FREE Imunify360 Security

    Liquid Web

    Ratings: 4.8/5
    Pricing: Starts from $169/ month

    Liquid Web is a private cloud-based host powered by VMware. It is a rich infrastructure enterprise hosting platform for small and medium-sized businesses. It offers several server configurations which promise the highest performance and uptime.

    Lighting fast cloud VPS and private VPS parent are other prominent products of Liquid web. Its infrastructure is built to solve all the PCI and HIPAA requirements. You also get access to VMware environments without any extra cost. Functioning in 150 countries all over the globe, the liquid web has 10 global centres set up for its functioning. Their hosting solutions work for freelancers, agencies, business owners and resellers.

    Plans:

    Plans Pricing
    Bare metal cloud $89 – $475 per month
    Bare metal servers $79 – $475 per month
    VPS $5 – $275 per month
    GPU servers $880 – $6460 per month
    WordPress hosting $21 – $164 per month

    Here is an exclusive Black Friday deal on liquid web: 75% off

    Accounting products

    Running a business and managing every detail of the business transactions will become a cumbersome task without proper accounting software. The best accounting software should be easy to use, input, manage, update and view the data. Choosing the best software which satisfies the needs of your business is not a piece of cake. As an entrepreneur, you need to take care of so many things, and one of those things is pricing. So avail a huge discount on the accounting products below to boost your business growth.

    Sage

    Rating: 4.3 / 5
    Pricing: Start from €12/month

    Sage is an accounting software that eases down the most hectic and important tasks of accounting in your business. The advanced auto-entry feature automatically pulls in data from the bank to make receipts.
    Easy collaboration with the team to manage and view the data just by sharing the invite link and giving them access. Let your business accounting move smoothly and efficiently with sage.

    Plans:

    Plans Pricing
    Start €15/month
    Standard €30/month
    Plus €39/month

    Black Friday deal – 6 months free on sage accounting

    Invoiceberry

    Rating: 4.5 / 5
    Pricing: Starts from $15 / month

    Invoiceberry is an all-in-one software solution that simplifies invoicing and expense tracking. It filters all your invoices and shows all unpaid invoices at the top of the screen, this will give a quick insight into how much you need to get paid. The interactive status bar shows the status of your invoice sent, draft, paid, and overdue. In short, this software will help you create invoices, send quotes, convert quotes into invoices in a single click and send a late payment reminder to your customer.

    Plans:

    Plans Pricing
    Solo $15/month
    Pro $30/month
    Ultra $45/month

    Black Friday deal 50% OFF

    Customer Service Products

    Customer service products provide software solutions to deal with customers and resolve their issues in the best possible way. Provide support to your customers by resolving the ticket queries raised by them using the robust customer support software solution. These products help you to make your customers happy and delight with your support.

    Call-Hippo

    Rating: 4.3 / 5
    Pricing: Starts from $0

    CallHippo is a virtual phone system provider which resolves all calling-related issues with your customers. It hardly takes 3 minutes to configure this calling system, just buy numbers around the world, provide access to your team and you are good to go with calling and receiving calls from anywhere. Its outgoing caller ID feature will switch your number according to the country in which you are calling, this will decrease the chances of a call aborting.

    It automatically switches to the best telephony provider using AI. This will increase the quality of sound over the phone and establish better communication.

    Plans:

    Plans Pricing
    Call center plan $0 to $50
    Office phone system plan $35 to $55

    Black Friday deal 20% OFF on annual call center plans
    Coupon Code: BLACKFRIDAY22

    Marketing products

    Marketing is an essential need for every business to grow its sales revenue. Marketing automation tools and software are a boon for every entrepreneur to handle all marketing-related stuff. So entrepreneurs grab the amazing black Friday deals in marketing tools and skyrocket your business growth.

    Get response

    Rating: 4.2 / 5
    Pricing: Starts from $0

    Create a huge email list of customers and generate leads by converting all the anonymous customers into loyal customers using the powerful and robust tool of Get Response. This software solution will help you to grow your audience, engage your audience, and make them loyal customers. Flexibility and simplicity to use this software to boost your email list, customers, and hence your sales revenue is easy peasy.

    Plans:

    Plans Pricing
    Monthly plan $0/month to $101.15/month
    12-month plan $0/month to $82.94/month
    24-month plan $0/month to $70.81/month

    Deal: Black Friday deal 15% OFF on a monthly plan, 30% OFF on a 12-month plan, and 40% OFF on a 24-month plan

    Socialbee

    Rating: 4.8 / 5
    Pricing: starts From $5/month

    Social media is the new fuel to create a great social image and online presence. Socialbee is playing an important role to manage your social media account. It helps to manage social media profiles, and schedule a specific time to publish the post across all the social media accounts. It also helps to see the analytics of the posts in one place for proper insights. Easy integration with designing tools like canva will help to create beautiful designs to publish.

    Plans:

    Plans Pricing
    Monthly
    Bootstrap $29/month
    Accelerate $49/month
    Pro $99/month
    Yearly
    Bootstrap $24/month
    Accelerate $40/month
    Pro $82/month

    Deals: Black Friday deal 70%OFF for 3 Months on a monthly plan, 30%OFF on a yearly plan for 1 year.

    Appsumo

    Ratings: 4.1/5Pricing:
    Starts from $8.25/month

    Appsumo is a tool to empower entrepreneurs by upskilling and assisting in the growth of their businesses. It has a growth scale strategy on which App sumo functions. It first discovered the business of the entrepreneur.

    It integrates with top-discovering tools such as Evernote, Hopin, Depositphotos, and MailChimp. As featured in Entrepreneur, Forbes, product hunt and business insider, App sumo is trusted by more than 1.25 million entrepreneurs. All you have to do is to list your digital products on Appsumo.

    Plans:

    Plans Pricing
    Membership $8.25/month
    One-time purchase $99

    Here is an exclusive Black Friday deal on Appsumo: 10%

    15 Black Friday Ideas for Small Businesses in 2024
    In this comprehensive guide, we will explore proven techniques and ideas to help your small business thrive on Black Friday.
    StartupTalkyRishi Mundra

    Designing products

    Eye-catching designs attract customers and this gives a chance to convert those customers into loyal returning customers. So having a great design product that supports your whole design needs is necessary. A good design makes a brand image strong and conveys a positive message to your potential customer. The good-looking design also helps to build trust among the customers.

    Pixpa

    Rating: 4.7 / 5
    Pricing: Starts from $6/month

    Pixpa is a portfolio website builder which helps to build websites to showcase your portfolio of products to sell online and earn revenue. It provides 150+ responsive templates to use as per your need, there is no requirement for any coding knowledge to create this website. Just drag and drop to customize the template and align it with your brand image and tone. Pixpa provides integration with 100+ apps to increase the capabilities of your website.

    Plans:

    Plans Pricing
    Monthly Basic ($6/month), Creator ($12/month), Professional ($18/month), Advanced ($25/month)
    Yearly Basic ($4.80/month), Creator ($9.60/month), Professional ($14.40/month), Advanced ($20/month)
    2-year plan Basic ($3.60/month), Creator ($7.20/month), Professional ($10.80/month), Advanced ($15/month)

    Black Friday deal 50% OFF on Annual plans, Coupon code (BLFPIXPA50)

    Glorify

    Rating: 4.81/5
    Pricing: Starts from $8

    Glorify is a multipurpose design tool that lets you make high-converting social media posts and logos, and even offers logo design assistance. This program includes functions that can assist you in producing high-quality advertisements, presentations, infographics and mock-ups.
    Exclusive educational material, embed codes on your canvas ready to be embedded on other websites or downloaded as still images, personal libraries integration, carousal slideshows while designing, advertisements analytics, additional stock integrations available directly from Glorify’s assets library, launching freehand tools to gain more customised creative capabilities, live collaboration, 3D viewer, and so much more are just a few of the key features of Glorify.

    Plans:

    Plans Pricing
    Basic Plan $8/month
    Pro Plan $15/month
    Business Plan $45/month

    Here is an exclusive Black Friday deal on Glorify: 60%Coupon Code: No Coupon Required

    Invideo

    Ratings- 4.7/5
    Pricing: Starts from $15/ month

    Invideo is an online video maker tool having more than 5000 templates in the application. With more than 6 million downloads and 7 million customers of Invideo, it has brand kits, audio editing, team addition, 40+ fluid animations, and text-to-video conversions.

    Other video editing features of Invideo include text overlay, video capture, video stabilization, collaboration, social sharing, audio tools, brand overlay, media library, video speed controller, split video, merge video, HD resolution, video capture, etc.

    Plans:

    Plans Pricing
    Free Plan $0/month
    Plus Plan $35/month
    Max Plan $60/month
    Generative Plan $120/month

    Vpn and Cyber security products

    VPN acts as a shield that protects us from cyber attacks and helps to surf the Internet Anonymously. This kind of cyber security product enhances the security of software and provides a safe web surfing experience. As a business owner taking care of the safety of software running on the system or the cloud is very important. Hence, don’t miss the great Black Friday deals on this cybersecurity software.

    NordVPN

    Rating: 4.4 / 5
    Pricing: Starts from $11.99/month

    NordVPN is a very popular VPN service provider which provides wire guard protection in VPN and has 5200+ servers across the globe. With a single account in NordVPN, one can use the service on 6 devices. Connect every system in your office with NordVPN and add an extra premium level of security of AES 246-bit encryption. It automatically stops you from web surfing if the connection with the VPN drops.

    Plans:

    Plans Pricing
    Monthly Plan Standard ($12.99/month), Plus (13.99/month), Complete ($14.99/month)
    1-year Plan Standard ($4.59/month), Plus (5.49/month), Complete ($6.49/month)
    2-year Plan Standard ($3.59/month), Plus (4.49/month), Complete ($5.49/month)

    Black Friday deal 70% off NordVPN

    Express VPN

    Rating: 4.5 / 5
    Pricing: Starts from $12.95/month

    Express VPN provides its VPN services with all the essential features and some additional features like VPN split tunnelling. This allows some devices to access the web through VPN and at the same time allows some devices to access the web directly. It has servers in 94 countries and it allows you to switch between the servers as many times as you want. Protect your data from online theft with Express VPN.

    Plans:

    Plans Pricing
    1-month $12.95/month
    6-month $9.99/month
    12-month $8.32/month

    Black Friday deal Up to 6 extra months free!

    PureVPN

    PureVPN provides an outstanding network of international VPN servers and focuses on privacy, security and accessibility. It uses advanced data encryption for the protection of its client’s data and privacy. It is loaded with features like Always-On audit, Constant third-party audit, Logless VPN and Privacy-Centric Service.PureVPN also offers software for streaming devices such as Android TV. It supports several VPN protocols and offers users servers across 139 countries with a live chat support system. It provides High-end security on public WiFi, at hotels, airports and coffee shops etc.

    Black Friday deal Win Up to a $1,000 Gift Card!

    How to Find the Best Black Friday Deals in India 2024?
    Black Friday is just around the corner and stores have started to provide huge discounts. Follow these tips and tricks to get the best Black Friday deals.
    StartupTalkyVidhi Punamiya

    Team Management products

    From big companies to small startups, team management is a very important task to do. Taking care of your employee’s payroll and performing all the cumbersome and time-consuming HR activities is very hectic without any proper software solution. Here is the list of tools to handle all your HR-related work seamlessly.

    HR Partner

    Rating: 4.8 / 5
    Pricing: Pricing depends on the number of employees

    HR Partner is an advanced, interactive, and easy-to-operate management software for HR to carry out their task efficiently. The list of features provided by this software is massive, in short, it caters to every aspect of the work of HR. Employee record management, leave requests and approval, recruitment, and application tracking are some basic services provided by this software. In addition to that, it also provides an employee portal that empowers employees to manage their own records and view other details. Employees can also apply for leave through this portal and see the status of their leave.

    Deal: Black Friday deal 50%OFF for life on all the plans

    Gusto

    Rating: 4.2 / 5
    Pricing: Starts from $40/month

    Ease down the cumbersome process of business management by leveraging the benefits of Gusto. This HR platform offers services from hiring and onboarding to managing payroll and attendance to everything you need to manage your employees. It automatically syncs data to payroll and calculates team hours, holidays, PTO, etc. Integration of popular apps with gusto is easy peasy, so there is no need to fetch data manually.

    Plans:

    Plans Pricing
    Simple $40/month
    Plus $60/month
    Premium $135/month

    Deal: Black Friday deal 25% OFF on Plus plan

    Apploye

    Rating: 4.5 / 5
    Pricing: Starts from $4/user/month

    Apploye is the time-tracking software that your business needs to track the working hour accurately. This software helps to calculate the working hour of the employee working in the office or remotely. It provides a desktop app, web app, mobile app, and even a browser extension and third-party integration to manage and track the time anywhere, anytime. So be updated with the time consumed on the specific project with this powerful software Apploye. Grab the Black Friday deal on Apploye before it ends.

    Plans:

    Plans Pricing
    Monthly Standard ($5/user/month), Elite ($7/user/month)
    Yearly Standard ($2.5/user/month), Elite ($3.5/user/month)

    Deal: Black Friday deal 15% OFF
    Coupon code apploye-15

    Smart Life Products

    Convert your traditional office into a Smart office using the Smart lOT products. Enhance your security by monitoring and tracking anytime and anywhere. This product provides better accessibility and control to entrepreneurs in their offices. Everything is connected to the internet. Grab the Black Friday deal on popular IOT products and make your office smart without giving extra stress on your budget.

    Wireless video doorbell

    Pricing: $74.99

    This is a rechargeable video doorbell that gives a battery backup of months and can monitor your door smartly day and night. Connected with wi-fi, this wireless video doorbell let you know who is behind your door, no matter where you are. It gives a 160-degree view with full-colour night vision to capture everything even in the darkness. It works perfectly fine with Alexa and google assistant, and can record video automatically when it detects any motion outside.

    Deal: Black Black Friday sale Flat 25% OFF

    Security Bundle and IOTA Bundle

    Pricing: Security Bundle – $249
    IOTA Bundle – $289

    This is the bundle of IoT products for businesses, and this bundle is a security bundle and an IOTA bundle. The security bundle includes one security hub, one keypad, 1 adobe cam 2, and two mini door sensors. On the other hand, The IOTA Bundle includes one IOTA, 5 mini door sensors, 1 keyFob Wi-Fi, 4G, and Z-Wave. Both bundles are packed with all the useful products that an office owner needs. Avail of huge Black Friday discounts on these bundles and can also consider purchasing them separately.

    Deal: Black Friday deal 50% OFF on security and IOTA Bundle plus 1-month free professional monitoring

    Electronics products

    There is no need to mention the advantages and necessity of electronic products in offices. Nowadays every piece of information related to the business is stored on electronic devices. Printers, monitors, CPUs, routers, and most importantly laptops are widely used in every business to function with their true potential. Grab the deal on electronic products from the top brands below.

    Apple

    Apple needs no introduction because every business enthusiast is very well aware of this brand. This premium brand offers a variety of products over varieties of categories. The electronic products of this brand are widely used in offices to complete day-to-day office tasks. This brand is also providing a Black Friday offer on its products, so go and grab the deal before it ends.

    Deal: Black Friday deal get an Apple Gift Card up to $200 when you buy an eligible product.* Only at Apple — online, in-store, and in the Apple Store app.

    Dell

    Dell is a technology company that sells electronic products that cater to mid-range customers. It offers products like monitors, CPUs, mouse, laptops, smart locks, data storage devices, and many more. In this Black Friday season sale, Dell has brought huge discounts on laptops, monitors, CPUs, and Mouse. Quickly check out and avail huge Black Friday discounts on Dell’s products because quantity is limited.

    Deal: Save up to $800 with limited-time deals on PCs, monitors & more. Plus, Dell Rewards members receive 2x rewards.

    HP

    HP is a well-known technology company that offers its products at affordable rates and has a huge collection of electronic products. Most businesses trust HP because of its quality products and reasonable prices to attract customers and supply happiness to their life in this Thanksgiving season of Black Friday. HP is giving huge discounts on a massive number of its products. Check out your favourite one before it gets out of stock.

    Deal: Save up to 75% on select DOORBUSTERS. 24 months special financing on purchases of $1,500 or more with the HP Credit Account.

    Best Black Friday 2023 Exclusive SaaS Deals
    Looking for the best Black Friday 2023 deals? Here we have a collection of Top Black Friday 2023 deals on SaaS tools to save you money this year.
    StartupTalkyShubham Kumar

    Conclusion

    Black Friday is on 25th November. Don’t think that it’s a one-day sale, it’s more like a season and begins on November 25. Just a few days are left, so start aiming at the merchandise you want to barter this year. You will discover a bunch of markdowns and deals for all commodities.

    From hardware to software, even portable appliances, everything you prefer will be handy here. The celebration will be continued until a week after Cyber Monday. Check to find the deals available for the products, you can also compare it with other online outlets and choose what you think is best for you. Don’t miss this great opportunity.

    FAQ

    What is Black Friday?

    Black Friday is celebrated after thanksgiving when many shop owners give steep discounts on their products.

    What are some of the products entrepreneurs should buy on black Friday?

    CRM products, Smart Life Products, VPN and Antivirus Software and SaaS Products are some of the products that every entrepreneur should look out for during black Friday.

    What are the best deals for SaaS Products?

    The best SaaS products are as follows

    • Zoho
    • Hostinger
    • Appsumo
    • Purevpn
    • Adspyder
    • Simvoly
    • nTask
    • LeadFuze
    • Document360

    When do Black Friday deals start?

    Black Friday Deals start on November 25.

    Where to find all the exclusive Deals?

    Almost all saas companies provide saas deals around Black Friday. You can go to the website of the required tool and check out their deal. Companies also send their customers emails regarding Black Friday deals.
    Moreover, you can check out our article where we have covered all Black Friday deals an entrepreneur would need including Exclusive deals from the companies

    Which is the Best Web Hosting tool?

    The Best Web Hosting Tools are as follows

    • BlueHost
    • Podia
    • LiquidWeb
    • Hostinger
    • GeneratePress

  • 12 Best Billing and Invoicing Software for Business in 2023

    An invoice is a commercial document that itemizes and records a transaction between a buyer and a seller. Now creating an invoice can be very time-consuming, as one has to write down one’s information and the client’s information, set the currency, indicate the date of the invoice, etc. One needs to make sure that the client’s bills are accurate and generated quickly which again takes a lot of time. So, the process is too lengthy, and now to reduce the work, comes the use of the best billing and invoicing software. If you are fed up with manual invoicing or want to automate the accounting of your business. Then, below we’ve listed the best software for billing and invoice to choose from.

    Every year the number of small businesses and freelancers is increasing and with this increasing number of businesses, the need for invoicing software has also raised. According to Upwork, in 2017 there were over 57.3 million people freelancing and most of the freelancers are likely to freelance by 2027. Most freelancers and small businesses use electronic invoices as it reduces the cost by 60-80%. We need business software that can create invoices.

    Best Invoicing & Billing Software Options

    We are living in a digital era where most of the thing we come across in our day-to-day life is now becoming digital. Electronic invoicing is playing an important role, as this invoicing software is now able to automate pretty much everything and make it ‘paperless’ when it comes to accounting. With the help of these tools, you will be able to get payments faster which will help you to reinvest money in your business quicker and respond faster to the fastest-growing market. So, if you want to automate the accounting of your business then, below we’ve listed the best billing and invoice that can help businesses streamline their billing and invoicing processes, saving time and improving efficiency.

    Best Billing and Invoicing Software for 2023

    Zoho Invoice

    Rating 4.6/5
    Best For Small Business Owner
    Deployment Cloud, SaaS, Web-Based, Desktop (Mac, Linux, Chromebook and Windows), Mobile (Android, iPhone, iPad)

    Zoho Invoice – Best Free Invoicing Software

    Zoho Invoice is a user-friendly billing and invoicing software that allows you to track time, create customized invoices, and receive payments quickly. It is a cloud invoicing system designed to meet in particular the needs of small and developing businesses, hence it is a great software for crafting and distributing invoices. Zoho Invoice is quick and on-point and enables facilitated time tracking, online payment acceptance, automated reminders, etc.

    Complete Zoho Invoice Tutorial For Beginners

    Features offered by Zoho Invoice

    • A wide range of invoice templates is available that can be easily customized according to your need.
    • Facility to automatically collect recurring payments.
    • Automated payment reminders to customers to ensure timely payments.
    • Different currency and language options to bill your customers.
    • Converts Your estimates into invoices in a single click.
    • Customer portal to empower your clients with all the transactions in one place.
    • Charge your customer automatically using their card details with the Auto charge feature.
    • Easy Integration with all Zoho and third-party tools like Slack, Google workspace, Dropbox, Evernote, and much more.

    Pros:

    • Multiple payments option
    • Customer support in 10+ languages
    • Invoice Scheduling
    • Easy refund and advance payments
    • 30+ reports to provide detailed insights
    • Mobile app is available
    • Simple interface
    • 100% Free to use

    Cons:

    • Software is a little bit complicated for beginners
    • Complexity in changing dual-language invoice

    Pricing Plans

    Zoho Invoice is 100% free billing and invoicing software offering everything a small business needs.


    Try Zoho for FREE

    Vyapar

    Rating 4.4/5
    Best For Small and Medium Indian Market
    Deployment Desktop (Windows), On-Premise (Windows), Mobile (Android)

    Vyapar – billing and invoicing software 

    Vyapar is a business management app designed for small and medium-sized Indian business owners. It enables you to manage invoices/receipts, estimates, payments, inventory, clients, and more. Vyapar is GST compatible so it allows you to create and share GST-compliant invoices and tally them, generate precise financial reports, calculate taxes automatically, and also file GST tax returns. One can check inventory instantly, see their stock status live, enable low-stock alerts, and track complete inventory quantity and stock value along with information like expiry date, batch number, and more. It has both mobile and desktop versions.

    Features offered by Vyapar

    • Creates professional invoices that help to establish brand identity.
    • The software can be used online as well as offline without any interruptions.
    • More than 10 invoice and billing templates to create professional invoices.
    • Basic accounting features can be utilized free of cost with the robust android app.
    • Features like inventory tracking keep you informed about the available stock.
    • It helps to prepare GST reports based on all the transactions you’ve made on the software.
    • Capability to generate 37+ business reports that provide an overview of your business health.
    • Both online and offline payments can easily be managed and tracked.
    • The online store feature launches your business online within a few hours.

    Pros:

    • Android and windows software is available.
    • 15-day free trial on the premium plan.
    • Line inventory status.
    • Automatic data backup.
    • Simple and modern interface.
    • Mobile app is available.
    • Multiple payments option.

    Cons:

    • Live support is not available.
    • Only works on a single system.

    Pricing Plans

    Vyapar Mobile App (Basic Version) is completely free of cost. Its paid plans pricing is given below:

    Plan Price
    Basic Plan (Only Desktop) ₹1799 Device/Year
    Basic Plan (Desktop + Mobile) ₹2159 Device/Year
    Saver Plan (Only Desktop) ₹3449 Device/Year
    Saver Plan (Desktop + Mobile) ₹4124 Device/Year
    Only Mobile Plans (Basic) ₹539 Device/Year
    Only Mobile Plans (Saver) ₹1012 Device/Year

    FreshBooks

    Rating 4.5/5
    Best For Large enterprises that require many features
    Deployment Cloud, SaaS, Web-Based, Desktop (Mac, Windows), Mobile (Android, iPhone, iPad)

    FreshBooks – Invoicing Software

    FreshBooks is a smart accounting solution now being used by 5 million business and freelance accountants worldwide. FreshBooks is the holder of “Finances Online’s Best Accounting Award” for 2018 and also has the highest customer satisfaction reviews. With FreshBooks, one can collect payments online via PayPal, Google Checkout, or any Credit Card. It is a reliable and fast accounting tool that allows complex financial management into an enjoyable experience as it makes creating professional-looking invoices a matter of a few clicks. FreshBooks’ auto-billing feature allows you to generate invoices and charge your customers’ credit cards on a regular basis by creating recurring profiles. It is also available for both Android and iOS, allowing the user to run business everywhere, using mobile devices.

    Features offered by FreshBooks

    • Automated late payment reminders to customers whenever a payment is delayed.
    • Time tracking feature to calculate working hours and accurate billing in the invoice.
    • Easy collaboration with clients and teams with project management features.
    • A robust dashboard that gives a quick overview of your business performance.
    • Automatic smart mobile scanning helps you to scan the bills and capture the transaction so that you do not need to enter manually.
    • Connect all your bank accounts and credit cards in one place and it will automatically import the expenses to avoid manual entry.
    • Cloud storage is available to store all the receipts online.
    • Loaded with all the basic accounting features like double-entry accounting, balance sheet, trial balance, chart of accounts, and much more.

    Pros:

    • Mobile app is available
    • Automated payments
    • Automated bank reconciliation
    • Excellent support
    • Interactive interface
    • Automatic tax calculation

    Cons:

    • Doesn’t generate tax reports
    • Software crashes sometimes

    Pricing Plans

    FreshBooks offers a 30-day Free Trial. And, paid plan details are given below:

    Plan Customer Price
    Lite 5 $4.5/month or $130.50/year (10% off)
    Plus 50 $9.00/month or $261.00/year (10% off)
    Premium Unlimited Billable Clients $16.50/month or $478.50/year (10% off)
    Select Unlimited Billable Clients Custom Pricing

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    QuickBooks Enterprise

    Rating 4.5/5
    Best For Small to Mid-Sized Product-Based Businesses
    Deployment Cloud, SaaS, Web-Based, Desktop (Mac, Windows), On-Premise (Windows, Linux)

    QuickBooks Enterprise – accounting and business management solution

    QuickBooks Enterprise is an end-to-end accounting and business management solution to cater to the needs of high-growth businesses. The platform offers a robust set of functionalities that keeps the user or the firm at the best of their finances. One can get access to sales and customer management and also gets to handle the invoices easily. QuickBooks Enterprise offers a fully integrated solution and can support up to 40 users, plus offers more than 200 3rd party integrations, automated reporting, user-friendly interface to deliver greater functionality.

    Features offered by QuickBooks Enterprise

    • Personalized insights into reports such as profit and loss, balance sheet, trial balance, chart of accounts, and much more.
    • Every transaction is automatically categorized in an organized manner.
    • Customize your invoice that conveys your brand image by adding a logo and brand color.
    • Real-time alert of the invoice, when it is viewed and paid.
    • It empowers your customer to pay the invoice amount by setting up a payment button.
    • The split-up payment feature enables you to charge a client based on the progress of the project.
    • Automated expense categorization by connecting bank accounts, credit cards, square, and PayPal into QuickBooks.
    • Resources like articles, video tutorials, webinars, and online communities are available to enhance your knowledge to use the software effectively.

    Pros:

    • Automated payment reminder
    • Mobile app is available
    • Custom access to multiple users
    • MailChimp and third-party integration
    • Excellent support
    • 30-day free trial

    Cons:

    • Payroll plans at additional cost
    • Complex pricing structure
    • Limitation on the number of users

    Pricing Plans

    QuickBooks Enterprise has three paid plans, Gold, Platinum, and Diamond, each plan offers a free product tour. Pricing details of each plan are given below:

    Plan Price
    Gold $1740/year
    Platinum $2140/year
    Diamond $4200/year


    Start Using QuickBooks Now

    Invoice Quickly

    Rating 4.2/5
    Best For Small Businesses, Freelancers and Agency Owners
    Deployment Cloud, SaaS, Web-Based

    Invoice Quickly – online invoicing software

    Invoice Quickly is an online invoicing software solution designed to help entrepreneurs, freelancers, business owners, and other professionals manage their billing. It allows the user to create invoice templates and then download them later as PDFs. With Invoice Quickly, you can customize the invoices with a log, indicating the client’s and also the user’s personal information, setting the currency, and including the product’s or service’s description, along with the bill. It is a very easy software to use as one has to spend less time on paperwork and spreadsheets while creating invoices or bills.

    Features offered by Invoice Quickly

    • The customizable invoice with automated payment reminder, due date setup, and integrated payment.
    • Professionally designed estimate templates that can be easily customized.
    • Ability to convert the approved quotes into invoices in a single click.
    • Facility to attach important files and documents in estimates.
    • Recurring invoice feature that automates the process of billing.
    • Email templates that are customizable based on your brand image.

    Pros:

    • Automatic tax calculation
    • Expense categorization
    • Sharable link to view estimates online
    • Mobile app is available
    • 256-bit SSL encryption security
    • 30-day free trial
    • Easy-to-use interface

    Cons:

    • Lack of video tutorials to use the app
    • Fewer integration options

    Pricing Plans

    Invoice Quickly offers a Free plan and has two pricing plans which are Pro Plan and Premium Plan. Pricing details of each plan are given below:

    Plan Clients Price
    Pro 15 $10/month or $99.99/year
    Premium Unlimited $20/month or $200/year

    Wave

    Rating 4.4/5
    Best For Easy and Free Invoicing Software
    Deployment Cloud, SaaS, Web-Based, Mobile (Android, iPhone)

    Wave – Invoice Generator

    Wave is a 100% free invoice generator that aims to support small business owners. It is an award-winning financial software specially designed for entrepreneurs, it is one of the most useful invoicing and accounting tools for small businesses and also freelancers. As a cloud-based software, it helps to generate and send out invoices, generate reports about your finances, perform accounting, payroll checks, track receipts, scan receipts, etc. Wave is totally free and can be used for an unlimited number of users, guest collaborators, and income & expense tracking.

    How to Create and Invoice in Wave Accounting

    Features offered by Wave

    • Easy switch between manual billing and automatic billing based on your need.
    • Auto sync of all the invoices and payments made through the software.
    • Easy tracking of payments to automate the process and build a healthy customer experience.
    • Notification alert of every viewed, opened and paid invoice.
    • Web-based software, so that you can access it anywhere, anytime with an internet connection and browser.
    • Facility to automate the whole billing journey with the help of invoice recurring features.
    • Intuitive dashboard that gives a quick insight into the business finances.

    Pros:

    • Personalized help from wave advisors
    • Invoicing, accounting, and banking are 100% free
    • Simple and easy-to-use interface
    • 256-bit SSL encryption to ensure safety
    • Mobile app available
    • 30-day free trial on paid features

    Cons:

    • The software is glitchy sometimes
    • PayPal import was abandoned

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    Xero

    Rating 4.4/5
    Best For Accountants and Bookkeepers
    Deployment Cloud, SaaS, Web-Based, Mobile (Android, iPhone, iPad)

    Xero – accounting software

    Xero is one of the leading names on the list of invoicing and accounting software designed for small business owners and accountants. Xero focuses on the customer experience and also it comes with a 30-day free trial version to check by the users. Their goal is to help small businesses thrive, offering a broad range of features designed with their success in mind. This tool provides 24/7 support and allows for unlimited users, helping you boost your business without wasting time. Xero allows you to quickly send bulk invoices to customers, saving you time. It’s interesting to note that you can be alerted when invoices are opened! Xero is easy to set up and comes with many features such as streamlined transactions, financial health monitoring, inventory management, and also a large number of useful integrations.

    Features offered by Xero

    • Professional-looking invoices with a pay now button to accept payment on the go.
    • Payment reminders to the customers before and after the due date.
    • Easy quote creation and seamless conversation into invoices when it is approved.
    • Feature to send multiple invoices by combining them into pdf and sending it via email.
    • Store and manage all your bills payable in a single place and set them on a priority basis.
    • Easy Integration with gusto to manage employees’ payroll through a single platform.
    • Varieties of reports are available to view and share the financial health of the business.

    Pros:

    • Easy-to-use interface
    • Mobile app available
    • Wide range of third-party integration
    • Multiple user collaboration
    • Hubdoc to capture data automatically
    • 30-day free trial
    • Inbuilt payment option in online invoice

    Cons:

    • Only online support is available via chat
    • Need to purchase payroll separately
    • Free plan is not available

    Pricing Plans

    Xero has three paid plans, Early, Growing, and Established. Pricing details of each plan are given below:

    Plan Price
    Early $13/month
    Growing $37/month
    Established $70/month

    Brightbook

    Rating 4.5/5
    Best For Creative Professionals and Companies
    Deployment Cloud, SaaS, Web-Based

    Brightbook – Free Billing and Invoicing Tool

    Brightbook is a cloud-based financial management and invoicing system that provides basic features. Brightbook allows managing the invoices and accounting for multiple companies and accounts, and most importantly it is Free. Brightbook allows the user to calculate profits and losses, generate tax reports, get insights into how much money the clients owe the user, and create and send professional-looking branded invoices for the clients. One can add multiple users and select who can see what, adding an extra addition to privacy and security. It allows the user to create invoices from the client’s quotes, once one receives a quote it can be converted into an invoice in just one click. The unique features of Brightbook make it one of the most valuable and popular tools for small businesses, startups, freelancers, contractors, etc.

    Features offered by Brightbook

    • Quotes to invoice conversion once approved by the client.
    • Multiple currencies to bill your client in their currency and seamlessly change the currency whenever you want.
    • Send an email to your client consisting of a bill, right from your dashboard.
    • PayPal integration to receive payments of the invoice.
    • Visual representation of bills and expenses with the tag of paid and unpaid.
    • Graphical charts that show the statistics of business cash flow.
    • All the data is stored on the cloud with bank-level encryption.

    Pros:

    • APIs Integration
    • Multiple user access
    • Quick Cash Flow insights
    • Budgeting and forecasting
    • Free to use

    Cons:

    • Confusing user interface
    • Only desktop app is available
    • No third-party integration

    InvoiceOcean

    Rating 4.9/5
    Best For Small businesses, entrepreneurs, freelancers and enterprises.
    Deployment Cloud, SaaS, Web-Based, Mobile(iPhone, iPad)

    InvoiceOcean – online invoicing software

    InvoiceOcean is online invoicing software that focuses on speed as one can create professional-looking and accurate invoices in just 30 seconds, making it a big-time savior. Once the invoice is generated, one can send the link within an e-mail to the client, directly via the software and then the client can view it online or can download it as a PDF. The software automates the creation of invoices by providing auto-completion based on the data that the user has entered and also adds pre-defined VAT rates, as one picks up a suitable rate.

    Features offered by InvoiceOcean

    • Billing in almost all major currencies and supports 29 different languages.
    • Automatically fills all the client information just by entering the client’s tax id.
    • Allow Multiple users to access the software with limited control.
    • Recurring invoices to the client on a specific date in a preset format.
    • The online payment button to each invoice empowers the customer to pay their bill seamlessly.
    • Wide range of financial reports with charts and graphs.
    • It supports all major world currencies and can also issue bilingual invoices.

    Pros:

    • 30-day free trial
    • User-friendly interface
    • Mobile app is also available
    • Integration with major payment and e-commerce sites
    • Knowledge base to help use the software efficiently

    Cons:

    • Poor support
    • Limit on number of users

    Pricing Plans

    InvoiceOcean has one free plan which is limited up to 3 invoices per month and three paid plans Basic, Professional, and Enterprise. The Professional plan is the most popular plan which offers unlimited invoices and estimates.

    Plan Customer Price
    Free 3 $0/month
    Basic Unlimited $7.2/month
    Professional Unlimited $14.40/month
    Enterprise Unlimited $25.60/month

    Logaster Invoice Generator

    Rating 3.4/5
    Best For Create Invoices Online Easily
    Deployment Cloud, SaaS, Web-Based, Mobile(iPhone, Android, iPad)

    Free Invoice Generator by Logaster

    Logaster is a European company that provides branding services to its clients. Their product list includes a Free invoice generator. Logaster’s Invoice Generator is an effective invoice generator. They provide very simple templates making it easy for people to create one. You can choose from multiple templates for your different needs. Logaster lets you easily customize the template and create unlimited Free invoices to send to your clients.

    Features offered by Logaster Invoice Generator

    • List of invoice templates to customize according to the brand image.
    • Inbuilt feature to create logo on the go and upload it to your invoice.
    • Easy to send invoices in the form of pdf.

    Pros:

    • Free of cost
    • Quick Invoice generation
    • Built-in logo generator

    Cons:

    • Features are limited to the invoice creation
    • Poor user interface

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    Invoice At Once

    Rating 4.5/5
    Best For Freelancers and Independent Workers
    Deployment NA

    Invoice At Once – Free Invoice Generator

    InvoiceAtOnce is a free invoice generator that allows users to create professional invoices quickly and easily. With InvoiceAtOnce, users can create invoices in a variety of formats, including PDF, Excel, and Word. The platform also offers customizable templates and the ability to add logos and other branding elements to invoices.

    One of the key features of InvoiceAtOnce is its simplicity. The platform has a user-friendly interface that makes it easy for users to create invoices with just a few clicks. Users can enter their business details, add line items and taxes, and choose from a range of payment options. InvoiceAtOnce also allows users to send invoices directly to their clients via email, making it easy to get paid quickly.

    Features offered by Invoice At Once

    • Template customization by uploading the company’s logo and changing the color.
    • Easy to create an invoice just by filling the basic details.
    • Simple to download and email the invoice in a single click.

    Pros:

    • 100% free to use
    • Option to choose currency and font

    Cons:

    • No additional features except generating invoices
    • Poor interface and irritating ads
    • No support

    Tipalti

    Rating 4.7/5
    Best For Companies with Complexities
    Deployment Cloud, SaaS, Web-Based, Desktop (Windows, Mac, Linux), Mobile (Android, iPhone, iPad)

    Tipalti Accounts Payables Automation Solution

    Tipalti provides a unified cloud platform that automates the majority of your global payables operations, allowing you to drastically reduce the amount of time spent managing supplier payments. It is another popular platform for billing and invoice alternatives that works for best-in-breed financial management practices to keep the business in the customers’ loop. Tipalti is known for tackling problems such as late payments, administrative overload, non-compliance, etc. The software allows for streamlining the way users make payments to customers, partners, vendors, and all other people affiliated across 190 countries across the world, making it a popular platform to use for invoicing and billing. Tipalti provides payment automation, a supplier management portal, simplified management, a KPMG-certified app, etc.

    Features offered by Tipalti

    • It provides the flexibility to suppliers to upload the bill via email or your portal.
    • Optical character recognition technology automatically captures data from invoices to avoid manual work.
    • Ability to make payments of multiple invoices by making a group of invoices.
    • 6 payment methods to send money in 120 currencies.
    • Consolidated reports of different financial statements in one place

    Pros:

    • Fraud detection
    • Easy integration with accounting and ERP tools
    • Drag and drop interface
    • Instant payment reconciliation

    Cons:

    • Features are complex to understand for beginners.
    • No free trial.

    Pricing Plans

    Plan Price
    Tipalti Express $149/month

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    Conclusion

    Using billing and invoicing software can be a valuable investment for businesses of all sizes. It can help streamline billing and invoicing processes, improve accuracy, facilitate expense tracking, and enhance the professional appearance of the business.

    There are many different billing and invoicing software options available, so it’s important to choose one that meets the needs of your business. Some things to consider when choosing billing and invoicing software include the price, the features offered, and the level of integration with other business tools (such as accounting software). By carefully evaluating the options available and selecting the right software for their needs, businesses can effectively manage their billing and invoicing and save time and resources in the process.

    FAQs

    What is billing and invoicing software?

    Billing and invoicing software is a tool that helps businesses create and send invoices, as well as track payments and expenses. It can be used to automate many of the tasks associated with billing and invoicing, saving time and improving efficiency.

    Why are billing and invoicing software important for businesses?

    Billing and invoicing software can help businesses streamline their billing and invoicing processes, reducing the time and effort required to manage these tasks. It can also improve the accuracy of invoices and enhance the professional appearance of the business.

    What should I consider when choosing billing and invoicing software?

    When choosing billing and invoicing software, you should consider the price, the features offered, and the level of integration with other business tools (such as accounting software). You should also consider the specific needs of your business and choose software that meets those needs.

    Are there any free billing and invoicing software options available?

    Yes, there are some free billing and invoicing software options available. However, these may have limited features and may not be suitable for all businesses. It is important to carefully evaluate the options and choose the software that best meets the needs of your business.

    Can billing and invoicing software be used for businesses of all sizes?

    Yes, billing and invoicing software can be used by businesses of all sizes, from small startups to large enterprises. There are many different options available, so businesses can choose the software that best meets their needs.

    What are some of the best Software for invoicing?

    For small businesses, Wave Invoicing, Zoho Books, and Simplybill are the best options available, while Scoro, FreshBooks and Sage provide comprehensive solutions for larger enterprises.

  • 13 Best Free Bookkeeping and Accounting Software for Businesses

    Business owners today like to keep most of their data on digital storage units, and rightly so. There are so many benefits of storing data on the cloud such as availability, backup, and retention. Similarly, business owners these days also like to have a digital bookkeeping and accounting system, to make the job effortless and more efficient than traditional methods.

    Owing to the many advantages of bookkeeping software, Business owners are in constant search of the perfect tool, tailored to their needs, which can best handle and adapt to their accounting system. Since there are several free open source bookkeeping and accounting software options available to help you stay organized and on top of your finances, this search might prove to be exhausting. However, to make this software hunt effortless, here we discuss the best free accounting and bookkeeping softwares for businesses most recognized by the industry, so you can choose the one that suits your business.

    Best Free Accounting Software

    Steps to Choose A Free Accounting Software

    Choosing the right free accounting software is an important decision for any business. It can help you track your financial transactions, prepare tax returns, and make informed decisions about your business. With so many options available, it can be overwhelming to determine which free software is best for your needs. In this step-by-step guide, we’ll walk you through the process of selecting the right free accounting software for your business.

    • Step 1: The first step in selecting the free accounting software is to determine your specific needs. Consider the size of your business, and features you may need, such as inventory management or invoicing.
    • Step 2: Once you have a clear idea of your needs, it’s time to research your options. Choose the above-mentioned list of tools and visit the pricing plan section on the company’s website and browse the features provided in the free plan.
    • Step 3: Chat with customer support and ask all the questions which are in your mind. Narrow down the options that best suit your needs.
    • Step 4: Once you have narrowed down your options, it’s a good idea to test out the software to see how it works in practice. Try out the software and see if it meets your needs.
    • Step 5: After researching your options and testing out the software, it’s time to make a decision. Consider the features, user interface, and integration capabilities of each software, and choose the one that best meets your needs.

    When to Upgrade from Free Accounting and Bookkeeping Software

    If you’re currently using free accounting and bookkeeping software, you may be wondering if and when it’s time to upgrade to a paid version. Here are a few things to consider when making this decision.

    • Business size: Small businesses have less complex financial structures compared to large-size businesses. Hence, if your business starts growing and it seems difficult to manage everything with the basic features available in the free plan, then you consider upgrading the plan.
    • Features: Free software often has limited features compared to paid versions. If you need specific features such as inventory management, project tracking, or advanced reporting, you may need to upgrade to paid software.
    • Budget: Budget is one of the main factors to consider when deciding whether to upgrade from free software is your budget. While paid software can come with a higher upfront cost, it may save you time and effort in the long run, and ultimately, be more cost-effective for your business.
    • Support: With free software, you may not have access to the same level of support as you would with a paid version. If you rely on timely support and assistance with your accounting and bookkeeping tasks, paid software might be a better choice.

    Best Free Bookkeeping and Accounting Softwares For Businesses

    1. Zoho Books
    2. Xero
    3. Akaunting
    4. Wave Accounting
    5. Lendio
    6. Zipbooks
    7. Manager.io
    8. GnuCash
    9. CloudBooks
    10. Brightbook
    11. Vyapar
    12. Sleek Bill
    13. Realbooks

    Zoho Books

    Rating 4.4/5
    Best For Scaling Businesses
    Deployment Cloud, SaaS, Web-Based, Desktop (Mac and Windows), Mobile (Android, iPhone, iPad)
    Zoho Books Free Accounting Software

    Zoho Books is a cloud-based accounting solution that enables you to effortlessly track cash flow in and out of your business. Keep track of your customers, invoices, and expenses to ensure efficiency. Keep track of your banking transactions, collaborate with your accountant in real time, and reconcile bank accounts. Above all, Zoho Books aids you in making decisions with greater accuracy and keeping track of your business.

    Zoho books is loaded with all the essential functionality of bookkeeping software, it provides seamless integration with 50+ Zoho software. Integrating other Zoho apps and syncing data into Zoho books as per the requirement of the business is very easy. Moreover, its powerful and robust automation tool helps to eliminate repetitive tasks of business.

    Features Offered by Zoho books

    • Vendor portal allows your vendors to manage their business transactions, invoices, and payments. Through this portal, vendors can create invoices, and you can store those invoices as bills for your records. Vendors can also see all their transactions related to you in one place.
    • Give access to the software to your employees based on the different roles they do for you. Restrict them from customizing everything by limiting their access to any specific portion.
    • Manage your project and count every working minute to bill your client accordingly with the time-tracking feature of Zoho. Convert your billable minute to invoice in one click and send it to your client for payment.
    • Connecting your bank account to your Zoho account will help to fetch all your business banking transactions to your Zoho banking dashboard.
    • Leverage the access of multiple payment gateways to accept payment. You can also collect payments on a recurring basis.

    Pros:

    • Free plan available
    • 50+ Zoho app integration
    • User-friendly interface
    • Advanced reporting and analytics
    • Customizable invoices
    • Excellent customer support

    Cons:

    • Poor automatic matching
    • Weekly comments are not allowed
    • Restriction on the number of users


    Try ZOHO Books For Free

    Xero

    Rating 4.4/5
    Best For All small and medium sized businesses and accounting & bookkeeping practices.
    Deployment Cloud, SaaS, Web-Based, Mobile (Android, iPhone, iPad)
    Xero – Free Accounting Software

    This award-winning accounting program has been designed especially for small business owners and accountants to use online. Accessible from any device that has an internet connection. Xero is committed to providing an effortless accounting experience with its effective accounting software. It has more than 3 million subscribers worldwide who trust Xero. Day-to-day business compliance with zero errors has never been easy, but with Xero, it is possible to investigate financial documents in no time.

    How To Use XERO – Accounting Software Tutorial for Small Business

    Features Offered by Xero

    • Scheduling the most important accounting work is the most influential feature of Xero. You can create a working paper using trial balance information on Xero and assign it to your staff to work on.
    • Capture your data automatically to your Xero account using hub doc. Now there is no need to waste your time by entering data manually. Just take photos, scan them, and upload them to Xero.
    • Multi-currency accounting in 160 currencies to pay and get paid. Only a few accounting software provide currency conversion to this extent with rate change updates.
    • Show your business professionally by utilizing the benefit of online quotes from Xero. Create a quote, send it to clients, wait for approval, and once approved change it to an invoice in a single click.
    • Record, update, and manage your assets and liabilities in one place and access anywhere using the internet.

    Pros:

    • Easy-to-use interface
    • Mobile app available
    • Wide range of third-party integration
    • Multiple user collaboration
    • Hubdoc to capture data automatically
    • 30-day free trial
    • Inbuilt payment option in online invoice

    Cons:

    • Only online support is available via chat
    • Need to purchase payroll separately
    • Free plan is not available
    • Lack of graphic chart of reports

    Akaunting

    Rating 4.0/5
    Best For Businesses Looking for a Truly One-Stop Free Accounting Software
    Deployment Cloud, SaaS, Web-Based, On-Premise (Windows, Linux)
    Akaunting Free Bookkeeping Software

    Akaunting is the best free open source accounting software developed to help small businesses manage their finances and maintain their financial stability. Simplifying invoicing, setting up online payments, and managing expenses is easier than ever. It helps you view all your financials from any device and location, with an open-source system, which also ensures the safety of your data and finances. Akaunting offers tools for cash flow, invoicing, reporting, and transaction categories, along with a client portal to accept bulk payments.

    Features Offered by Akaunting

    • Akaunting allows you to remotely view your financials from any device and location without risking data loss or theft owing to its open-source accounting.
    • Manage customers by sending them invoices and accepting online payments, and setting authorization for entering client portals.
    • Assign bills and payments to vendors that you create and filter transactions, and manage finances with bills and accuracy.
    • Akaunting allows deposits and transfers between accounts to keep an active account balance, and seamlessly manage taxes with convenient names, for specific products.
    • Add unlimited bank accounts and deal in different currencies and convert the balance to your currency.

    Pros:

    • Free forever plan available
    • 50+ app integration
    • Easy invoicing with a client portal
    • Simple interface
    • Lifetime free updates
    • Financial Reporting and easy bank reconciliation
    • Can be installed on your self-hosting

    Cons:

    • Some customers experienced poor support
    • No mobile application

    Wave Accounting

    Rating 4.4/5
    Best For Sole Proprietors and Small Businesses
    Deployment Cloud, SaaS, Web-Based, Mobile (Android, iPhone)
    Wave – Free Accounting Software for Small Businesses

    Wave Accounting provides completely free, open source, accurate double-entry bookkeeping for small businesses. Wave is a cloud-based application, enabling you to access your data from anywhere, add multiple collaborators and manage all aspects of your business with one login. With Wave, you can avoid tedious data-entry while getting easy access to financial reports and reclaim valuable time for the things you love doing. Seamless integration of your accounting with invoicing, receipt scanning, payment processing and payroll is possible with this tool.

    It helps you manage, make, and move your money digitally. It helps you organize your income and expenses, and track monetary advances such as payrolls and invoices. Wave also lets you create professional invoices with its Invoice Software, with some advanced features. Moreover, Wave allows you to scan receipts anytime and anywhere with just your mobile phone.

    Features Offered by Wave

    • Wave allows you to set up credit card payments and switch between automatic and manual payments. Wave sends an invoice or an email receipt accordingly.
    • You can also customize your invoices for recurring payments and schedule them for any frequency and time.
    • Wave offers customizable invoice templates to bill your clients for any services and add details for the clients to know what they are paying for.
    • Build invoices in Google Docs, Sheets, Word, PDF, and Excel format, and useful tips by customers for better interactions with them.
    • Wave also offers a smart dashboard and unlimited accounting and invoicing and syncing accounting records.

    Pros:

    • User-friendly dashboard
    • Personalized help from wave advisors
    • Invoicing, accounting, and banking are 100% free
    • 30-day free trial on paid features
    • 256-bit SSL encryption to ensure safety
    • iOS and Android apps available

    Cons:

    • The software is glitchy sometimes
    • PayPal import was abandoned
    • Advisors’ plans are costly

    Lendio

    Rating 4.5/5
    Best For Small Businesses Looking for a Bookkeeping Solution
    Deployment Cloud, SaaS, Web-Based, Mobile (Android, iPhone)
    Lendio – Cloud-Based Cashflow Software

    Lendio is a cloud-based financial software that helps you with accounting, taxation, document preparation, expense tracking and more. Lendio is backed with multiple data centres and encryption, which provides top-notch security to all your financial data. Its beautiful and easy-to-interact user interface has made bookkeeping simpler. The automatic expense tracking feature of Lendio is a differentiating factor from other accounting software, which allows users to track all their expenses automatically.

    Features Offered by Lendio

    • Powerful dashboard equipped with all the financial statistics of business in one single interface. This feature will help you analyze your business condition at a glance.
    • Hassle-free discount and refund processing feature to speed up your accounting work.
    • Data security is the key feature of Lendio and it allows you to export all your financial data from the cloud to your desktop in a matter of seconds.
    • The financial forecasting tool of Lendio helps you to do an in-depth cash flow analysis for better-taking business decisions.
    • Focus on your business and forget about preparing tax documents because the Lendio tax assist feature will do all this work for you based on your financial reports. The tax estimator of Lendio forecasts the estimated advance tax which you need to pay, this helps you to plan for your tax filing decisions.

    Pros:

    • Completely free to use
    • Best of small businesses
    • Automatic expense tracking
    • Easy-to-use interface
    • Integration with Gusto for payroll management
    • Expense auto-categorization
    • Stripe, PayPal, and Square integration for payments

    Cons:

    • Doesn’t offer a lot of integration
    • Difficult to input expenses

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    Zipbooks

    Rating 4.5/5
    Best For Small Businesses Looking to Upgrade From Spreadsheets
    Deployment Cloud, SaaS, Web-Based, Mobile (iPhone, iPad)
    Zipbooks Free Accounting Software

    Another top free open source accounting software designed for small businesses, independent contractors, and accounting professionals to consider is ZipBooks. Zipbooks is a simple and robust accounting software which offers you the tools to enhance your bookkeeping. It allows you to create professional invoices and get paid seamlessly with automated payment reminders, offers you smarter reporting and simple reconciliation with auto-categorization, as well as insights to retain the most loyal and profitable customers.

    How To Use ZipBooks

    Features Offered by Zipbooks

    • Store immaculate accounting records and keep track of what you owe and who owes you, and with the help of smart feedback, know how much the revenue actually is.
    • Zipbooks lets you get paid the way you want. It accepts payments from credit cards to automated billing.
    • Calculate and record employee payouts, equipment expenses and other costs for running your business seamlessly.
    • Expense management is made easy with Zipbooks with the help of billable expenses, save receipts, and split categories.
    • Zipbooks offers data-driven intelligence and smart features to help retain customers and make faster payments.

    Pros:

    • Intelligent feedback to improve day-to-day operations
    • Transaction tagging for easy accessibility
    • Simple and modern UI/UX
    • Free plan is available with basic accounting features
    • Free trial to test the features of a paid plan
    • Advanced smart search
    • Business health score to gauge the business growth
    • iOS and Android App available

    Cons:

    • Limited integration options
    • Weak customer support

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    Manager.io

    Rating 4.8/5
    Best For Easy to use software for small businesses
    Deployment Cloud, SaaS, Web-Based, Desktop (Mac, Windows), On-Premise (Linux, Windows)
    Manager.io Bookkeeping Software for Small Businesses

    Manager.io is a free, full-featured accounting software designed for small businesses. This software provides key accounting functions, tax features and data entry automation that simplify accounting processes. This software is simple to use. With no prior knowledge required, you can become familiar with it quickly.

    Manegar.io bookkeeping software comes with three editions: desktop edition, cloud edition, and server edition. Cloud edition and server edition are paid ones that store all your data on the cloud which you can access remotely from anywhere. The server edition will provide a dedicated server for your data which you can customize to increase security. But, since we are talking about free software, the desktop edition is best for small businesses for accounting.

    Features Offered by Manager.io

    • The desktop edition provides all the essential features of basic accounting software completely free forever.
    • The free edition has all the accounting features but still migrating from the desktop edition to the cloud edition or server edition is a game of jokes. You can export all your data easily and import it to the cloud edition.
    • Dedicated forum to raise your concern related to software issues. The Manegar.io team is eager to solve your problem and release the software update as soon as they fix the problem.

    Pros:

    • Desktop edition is completely free
    • Bank reconciliation
    • Multi-currency access
    • Integrated payroll management
    • Can easily be set up on your own server

    Cons:

    • The interface is not user friendly
    • Cloud and server editions cost you higher money
    • Mobile app is not available

    GnuCash

    Rating 4.5/5
    Best For Free Accounting Software for small businesses all around the world
    Deployment Desktop(Mac,Windows), On-Premise (Windows,Linux)
    GnuCash – Free Accounting Software

    GnuCash is a powerful and reliable bookkeeping tool for anyone looking to take control of their finances. It is a free and open-source software package that allows users to manage all their accounting needs. Loaded with essential accounting features like double-entry accounting, profit and loss, and balance sheet, it makes accounting affordable for new businesses.

    Graphical report of accounting data empowers users to take a look at business performance. Since it is open-source software, it provides a proper installation guide to configure the software on your system. Windows, Mac OS, and Linux are the operating systems that support the software effectively.

    Features offered by Guncash

    • It has the ability to create custom reports and charts to track financial performance.
    • Support for double-entry accounting to ensure the accuracy and integrity of financial records.
    • The free and open-source software that supports multiple platforms, including Windows, macOS, and Linux
    • Ability to track exchange rates and convert between currencies, and also supports multiple currencies.
    • Customer and vendor tracking features simplify the task of business management.
    • Facility to customize the appearance of the interface in multiple ways.

    GnuCash Demo

    Pros:

    • Payroll management
    • Available in 58 different languages
    • Account reconciliation
    • Completely free to use
    • Double-entry accounting system
    • Stock and mutual fund tracking

    Cons:

    • Confusing UI, not suitable for beginners
    • Lack of customer support
    • No mobile app and cloud-based access

    CloudBooks

    Rating 3.5/5
    Best For Online Invoicing Software for Freelancers and Small Businesses
    Deployment Cloud, SaaS, Web-Based
    CloudBooks – Online Invoicing Software

    CloudBooks is a free accounting, invoice creation, and management software is trusted by small businesses all around the world. It is ideal for quickly creating and sending invoices online, so you can get paid faster. CloudBooks enables you to monitor time worked, generate invoices and estimates, and receive payments. It helps users manage invoices, expenses, and projects for SMEs as well as freelancers. Moreover, you can send automated payment reminders, accept faster payments, and offer your clients a professional experience like never before.

    Features Offered by CloudBooks

    • Invoicing is made custom with tools which help you to brand, control, and accept recurring payments, all in one place.
    • CloudBooks’ project management allows you to manage teams and communications, for seamless project management.
    • Track your employees’ working hours and know where your time is majorly spent.
    • CloudBooks also allows you to track expenses and ensure they are spent wisely. Also, record your expenses and attach receipts to view later.
    • Get comprehensive reports for an all-around view of your business with expenses, profit/loss, payments, and invoicing tasks.

    Pros:

    • Detailed reports and analytics
    • Pre-integration with stripe and PayPal
    • Free trial is available
    • Expense tracking in one place
    • Automatic invoice generation for tracked hours
    • Excellent support
    • Easy-to-use interface

    Cons:

    • Limited accounting features
    • Mobile app is not available

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    Brightbook

    Rating 4.5/5
    Best For Web-Based Accounting Solution for Professionals and Freelancers
    Deployment Cloud, SaaS, Web-Based
    Brightbook Accounting Software

    Brightbook is an online accounting system designed to fulfill the requirements of freelancers, independent consultants, and small business owners, with great performance for the first two groups. This platform is capable of handling all your basic accounting work and provides many free features — like tools for invoicing, cash flow visibility, reports and financial statements — plus some features that require a one-off payment.

    Features Offered by Brightbook

    • Instant insight to keep your eye on how much you owe and how much you need to settle.
    • Track your business transaction by importing all the bank statements into your Brightbook account. This feature removes hurdles to looking into your bank statement frequently.
    • The company claims that data Security is as tight as banking security, and it adds an extra advantage to access the data online, using the Internet.

    Pros:

    • Integration APIs
    • Multiple user access
    • Quick Cash Flow insights
    • Budgeting and forecasting
    • Free to use

    Cons:

    • Confusing user interface
    • Only desktop app is available
    • No third-party integration

    Vyapar

    Rating 4.4/5
    Best For Small and Medium Indian Business Management
    Deployment Desktop (Windows), On-Premise (Windows), Mobile (Android)
    Vyapar Accounting Software

    Vyapar is a Business Accounting, Invoicing, and Inventory management app designed for small businesses. It allows you to create invoices and estimates, accept payments, manage your inventory and online store, and keep track of your clients. It is the perfect answer to all of your business accounting needs. Vyapar is the most lucrative accounting software with a bunch of features and has 1 crore+ happy customers. It stands out on top of modern-age accounting software because of its powerful and robust accounting mechanism. Its most highlighted feature is payment reminder which is capable enough to ensure timely payment from clients.

    Features Offered by Vyapar

    • 37+ business reports to help you understand the in-depth financial health of your business.
    • Varieties of themes are available to make the brand image of your business look professional in invoices.
    • Auto tracking of the due date for every order and sending payment reminders to ensure timely payment
    • Make your quotations very easily and send them to your potential customers via WhatsApp, email, or SMS in a few clicks. It also allows you to convert your approved quotation into an invoice very efficiently.
    • Track your consignment just by the details of the delivery challan created by Vyapar. Easily convert your delivery challan into an invoice once it reaches the customer.

    Pros:

    • Offline/Online billing
    • Intuitive interface
    • Multiple payment options
    • Priority support
    • Professional quotes and estimates
    • 15 days free trial on premium plans
    • Basic version mobile App is completely free to use

    Cons:

    • Live support is not available
    • Only works on a single system

    Sleek Bill

    Rating 4.6/5
    Best For Ideal billing tool for small businesses and freelancers
    Deployment Cloud, SaaS, Web-Based, Desktop (Mac, Windows)
    Sleek Bill Accounting Software

    Sleek Bill Online is a convenient cloud-based billing solution that you can use wherever you are, no matter what device you’re on. This amazing tool allows for real-time collaboration with team members and allows for the creation of invoices, proformas, quotes, or delivery notes across multiple devices.

    Sleek bill bookkeeping software has made invoicing and accounting effortless, even its tagline is “Invoicing made easy”. To remove the complexity of running and managing the business, Sleekbill software offers an easy-to-use interface, beautiful invoices and quick access to reports to cater to small and medium businesses.

    Features Offered by Sleek Bill

    • Proforma invoice maker to show your commitment towards your product to your purchaser.
    • Create invoices, debit notes, and credit notes seamlessly for a better supplier and customer experience.
    • Sleek bill uses TSL security encryption to ensure safe data transmission over the internet.
    • Multiple device accessibility with multiple users to manage the business accounts as a team.

    Pros:

    • Free forever plan is available with limited features
    • All the data is stored on the cloud
    • Easy inventory tracking
    • Professionally designed invoices
    • TSL security encryption

    Cons:

    • Mobile app is not available
    • Poor support with no live support

    Realbooks

    Rating 4.7/5
    Best For In-Depth Financial Analysis
    Deployment Cloud, SaaS, Web-Based, Mobile (Android)
    RealBooks, Accounting-Inventory Payroll Software

    RealBooks is a comprehensive cloud-based GST and VAT accounting system, designed to make life easier for businesses and accountants alike. It has plenty of features that make bookkeeping and payroll simpler. No matter your business size, its comprehensive feature list and its unique intelligence tools can help increase efficiency at every level.

    It offers the best GST compliance feature like GST automated calculation, which do all your GST-related work. Direct integration with the GST portal is a new characteristic that helps in creating e-invoices at no additional cost.

    Features Offered by Realbooks

    • Manage most of your accounting work anytime anywhere with its prominent mobile app. Create and share the invoice at your fingertip.
    • Single platform to manage accounts for your multiple business locations. All your remote locations can upload the documents and you can manage them from a single location.
    • Permit users at different business locations to use the software and get a consolidated report of all the branches.
    • Dropbox facility to upload bills directly to the cloud. It also offers unlimited storage space to ensure paperless accounting.
    • Fully customizable dashboard to provide strategic insights that are valuable for your business.

    Pros:

    • 256-bit encryption for high-level security
    • Mobile app is available
    • Free edition with all basic features
    • Easy compliance management
    • Automated bank reconciliation
    • Facility to upload bills via Dropbox
    • Unlimited users
    • Excellent support

    Cons:

    • Average user interface

    Conclusion

    Choosing the right bookkeeping and accounting software is essential for any business, as it helps to keep track of financial transactions and prepare financial reports. There are many free options available, each with their own unique features and capabilities.

    Ultimately, the best free bookkeeping and accounting software for your business will depend on your specific needs and budget. It’s important to carefully consider what features and capabilities are most important to your business and choose a software that meets those needs. With the right bookkeeping and accounting software, you can stay organized, on top of your finances, and focused on growing your business.

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    FAQs

    What is Bookkeeping Software?

    Bookkeeping software is a tool that helps businesses keep track of their financial transactions, including income, expenses, and profits. It can help with tasks such as invoicing, expense tracking, and generating financial reports.

    What are some best accounting software for small businesses?

    The best accounting software for small businesses will focus on being easy to use, simple, and low-cost. QuickBooks, FreshBooks, and Wave Accounting are leaders in small business accounting software.

    What are the benefits of accounting software?

    Some benefits of accounting software includes:

    • It is time saving free accounting software.
    • It produces key financial reports right away.
    • It links up all your financial information.
    • It ensures accuracy of the data.
    • It generates financial statements that look professional.

    What features should I look for in bookkeeping and accounting software?

    The features you should look for in bookkeeping and accounting software will depend on the size and needs of your business. Some common features to consider include invoicing, expense tracking, payroll, project management, double-entry accounting, and support for multiple currencies.

    Can I upgrade to a paid version of the bookkeeping and accounting software?

    Many free bookkeeping and accounting software options offer the option to upgrade to a paid version, which may offer additional features and support. It’s important to carefully consider your business needs and budget before deciding whether to upgrade.

    Is bookkeeping software difficult to use?

    Bookkeeping software can vary in terms of complexity and user-friendliness. Some options are designed for small businesses and are easy to use, while others may be more suitable for larger businesses and require more advanced accounting knowledge.

    Do I need accounting software for my small business?

    Whether or not you need accounting software for your small business depends on the size and complexity of your business, as well as your personal preferences and skills.

    Is free accounting software secure?

    Free accounting software can be just as secure as paid software, as long as you take appropriate precautions to protect your data including using a strong password, keep your software and operating system up to date, using a firewall and antivirus, etc.

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  • 50+ Tools for Freelancers Which They Must Know About

    Gone are the days, when 9-5 jobs were most preferred and termed as the safest option. People have started indulging themselves in freelancing more. Especially after Covid-19, when work from home becomes a common process. The work from home process supported the rise of freelancers as this is what every freelancer has been doing since the beginning; they were already adapted to this. While full-time employees took time to get adapted to this nature

    A report stated that 68% of workers who are working from home are showing their interest in freelancing. Millions of people lost their jobs when due to Covid the economy got hit. Plus the work from home setting gives a rise to people who show their interest in freelancing.

    Freelancing can be sure a tough job. Once you realize being ‘your own boss’ means putting the hats of the legal expert, financier, routine planner, and work manager, all at once. But there are always ways to help with that, aren’t there? We have crafted for you a list of 50+ such freelancer tools that come to your rescue whenever, wherever you need a virtual assistant.

    Before proceeding, you can also have a look at the 100 proven ways of Lead Generation.

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    Accounting Tools for Freelancers:
    ZipBooks
    Momenteo
    Harpoon
    Bonsai
    Xero
    Freeagent
    Freework
    Expensify
    Freshbooks
    Portfolio Creation Tools for Freelancers:
    Behance
    Prospero
    Bidsketch
    Pixpa
    Squarespace
    Project Management Tools for Freelancers:
    Asana
    Basecamp
    EverNote
    Writing Tools for Freelancers:
    Proposify
    Zen Writer
    Write Room
    Email Management Tools for Freelancers:
    Sanebox
    Inbox
    MailChimp
    Aweber
    Scheduling Tools for Freelancers:
    Productive
    RescueTime
    Remember the Milk
    Google Calendar
    Timely
    Cushion
    Tickspot
    Klok
    Ora Time and Expenses
    ToggI
    OfficeTime
    Timesheet
    MyClientSpot
    Focus Booster
    Streaks
    Azendoo
    Freedom
    Flow
    GetHarvest
    Backup Tools for Freelancers:
    iCloud
    DropBox
    Mozy
    Marketplace Platforms for Freelancers:
    Truelancer
    Upwork
    Fiverr
    Workana
    Social Media Management tools:
    Social Oomph
    Buffer
    Tweriod
    Other Important Tools for freelancers:
    Linkedin
    LifeHacker
    Plagiarism Check
    Termsfeed
    Pro Blogger
    LKR Social Media
    Contently
    Trello
    TinyScanner
    SlideShare
    Briefbox
    MindMeister
    Text Expander

    Accounting Tools for Freelancers:

    Different accounting tools compared
    Different accounting tools compared

    Bonsai

    Pricing-$19/ Month

    Bonsai is an integrated all-in-one software suite designed to help with all the admin tasks. Bonsai lets you create invoices, send contracts and collect payments without the least effort. Apart from its functionality, Bonsai is famous among the freelancing community for its efficient design layout. Here are some reasons you should go for Bonsai:

    • The interface is clean and easy to use.
    • Bonsai is affordable, offering multiple pricing plans.
    • Bonsai has you covered from proposal to tax season.
    • Bonsai Cash business account lets you manage your finances, save on taxes and get paid faster with no hidden fees or minimums.
    • The products are integrated seamlessly.
    • Bonsai’s products are automated.
    • Bonsai offers a massive library of free templates of contracts, proposals, invoices, agreements, quotes, scope of work, and briefs.

    ZipBooks

    Pricing- $15/Month

    ZipBooks Logo

    ZipBooks is founded by Tim Chaves in 2o15. ZipBooks is a free accounting tool that you can use to create invoices, manage clients, payments, and expenses and track your time. You can even set up late payment reminders for your clients.

    Momenteo

    Pricing- $3/Month

    Memento is founded by Chelsie Patterson in 2019. Memento is a pretty convenient invoicing tool that makes generating invoices a quick, hassle-free experience. It is a paid service though and it comes with a price tag of $200 per annum.

    Harpoon

    Pricing- $19/Month

    Harpoon is founded by Andrew Johnson, Ryan Battles in 2015. Quite a lifesaver, Harpoon is an extremely handy tool that lets you track your average revenue per project(or per month, day or hour), plan your schedules, check outstanding invoices and keep track of your goals.

    Xero

    Pricing- $13.50/ Month

    Xero is founded by Rod Drury and Hamish Edwards in 2006. A one stop destination for all your financial engagements, Xero is a paid service that offers online accounting, invoicing, billing, and banking.

    Freeagent

    Pricing- $24/ Month

    Freeagent is a money managing app that assists in bookkeeping and generating invoices. A well-designed app, this one is specifically designed to keep small businesses and freelancers in mind.

    Freework

    Pricing- Free

    This freelancing tool is designed to help you manage your day-to-day work, save time, send invoices, keep statistics, manage clients, take notes, and a lot more. It is built on a mobile platform and can be assessed by both android and iOS users.

    Expensify

    Pricing- $5/ Month

    With Expensify, you can manage your receipts better. All you have to do is photograph your receipts and upload them. It works on iPhone/iPad, Android, WebOS/Palm, and BlackBerry phones.

    Freshbooks

    Pricing- $13.50/ Month

    A boon for freelancers in the midst of a financial lurch, Freshbooks lets you create invoices and manage them and organise them with the click of just a button. What’s more, the service is free as long as you have three clients. After that, it comes with a price tag.

    Portfolio Creation Tools for Freelancers:

    Behance

    Pricing- $14.29/Month

    Behence Logo

    Behance is founded by Scott Belsky in 2006. One of the most popular websites out there, Behance is nothing but a boon for freelancers. Be it showcasing your creativity, or creating your online portfolio for work. Behance supports a variety of platforms from Photoshop to PDFs, allows you to view and appreciate other’s projects, and lets you collaborate and upload your work.

    Prospero

    Pricing- $8/ Month

    One of the best-known tools for freelancers, proposal helps you to create a proposal for your client and price your projects. Prospero analyses your work, project deadlines, and your working rate to self-design an editable proposal that is relevant to the services you offer.

    Bidsketch

    Pricing- $29/ Month

    Bidsketch assists you to create client proposals with its wide range of customizable templates. Besides letting you create templates, this tool also helps you distribute them and offers related analytics about the distribution, like who downloaded it, who viewed it, and for how long.

    Pixpa

    Pricing- $5.09/ Month

    If you are looking for a space, where you can showcase the work created by you and sell them as well. This platform helps you create professional websites, where you can publish your own blogs, showcase your portfolios or set up an online store.

    Squarespace

    Pricing- $16/ Month

    Considered to be one of the best platforms for portfolio/ website making, as a freelancer, you can carve your own personal identity on Squarespace using its wide range of customizable templates.

    Project Management Tools for Freelancers:

    Asana

    Pricing- $10.99/ Month

    A popular people collaboration tool, Asana allows you to form groups of up to 15 people. You can start group discussions, and send tasks to each other. You can even send timely notifications to group members as reminders.

    Basecamp

    Pricing- $99/ Month

    A friendly freelancing tool, Basecamp is a popular project management tool that lets you keep track of all your projects and keep them organized. This online collaboration tool focuses on managing work and lets people communicate with each other.

    EverNote

    Pricing- $7.99/ Month

    One of the most popular apps out there, Evernote lets you store notes, receipts, and other miscellaneous files associated with each project and also sets timely reminders to keep you on track.

    Writing Tools for Freelancers:

    Proposify

    Pricing- $49/Month

    Proposify Logo

    Proposify is founded by Kyle Racki, and Kevin Springer in 2013. Proposify is a proposal writing tool that comes equipped with a host of templates and customizable features. It comes with a set of basic drawing tools and almost looks like a mini word processor to help you with the job.

    Zen Writer

    Pricing- $18 Onetime Fee

    ZenWriter is a full-screen writing app that comes with a serene, minimalist design and friendly layout. One of the best-looking apps out there, this one promises to not only get your work done but also give you a great working experience.

    Write Room

    Pricing- $9.99/ Month

    Designed only for Mac users, this tool comes to your rescue when you have big writing projects in your kitty. Write Room comes with a clean, minimal layout ( there are no distracting menu options or even toolbars) and a simplistic design that helps you focus on your work better.. Nothing will give you more focus than a full-screen writing tool, and WriteRoom is the original offering that is available for Mac.

    Email Management Tools for Freelancers:

    Sanebox

    Pricing- $9.99/Month

    Sanebox Logo

    Sanebox is founded by Stuart Roseman in 2010. This app helps you with one of your most important handles, the epitome of your professional existence, your mailing inbox. Sanebox helps you organise through stuff and keep your inbox clean.

    Inbox

    Pricing- $9/Month

    Call it a way better version of Gmail, this app lets you organize your mails, categorise them efficiently, have attachment previews, built-in snooze buttons, automatic labeling, and intelligent search. With its user-friendly design and easy-to-navigate layout, this one is sure to make your work easier.

    MailChimp

    Pricing- $9.99/ Month

    This E-mail marketing platform is said to be one of the best. A fantastic promotional tool, this one helps you send your email marketing newsletters, keep your clients updated about a new post or product and market your services.

    Also read: Tools for Email List Building

    Aweber

    Pricing- $19.99/ Month

    A networking and personal marketing tool, Aweber lets you build an email campaign, which can help to maintain relationships with all your previous and current clients.

    Scheduling Tools for Freelancers:

    Productive

    Pricing- $10/Month

    Productive is founded by Jan Varljen in 2014. This tool helps you form productive work habits, It comes with an easy-to-use interface that lets you plan and schedule habits for any time of the day, set smart reminders for each time of the day, and stay right on track.

    RescueTime

    Pricing- $9/ Month

    A time planner tool, RescueTime offers to save your time by keeping track and letting you know of the amount of time you spend on each of your tasks. It was founded by Brian Fioca, Tony Wright, and Joe Hruska in 2007.

    Remember the Milk

    Pricing- $39.99/ Year

    Remember The Milk is a reminder tool that was founded in the year 2004, it is an online to-do-list app, that lets you take care of important tasks so that you are never late again.

    Google Calendar

    Pricing- $5/ Month

    Google Calender Logo

    Google Calendar is an amazing planner tool from Google that lets you organise your schedule and plan tasks accordingly. It became available in 2009, one can create and edit events here and location can also be added.

    Timely

    Pricing- $15/ Month

    When you take up too many projects, it can be quite overwhelming. Timely is a time tracking tool Timely helps you to maintain a time log to track the amount of time you have spent on each of the projects undertaken.

    Cushion

    Pricing- $36/ Year

    The cushion is quite a reliable tool that helps you make an efficient work schedule for your freelancing ventures. It focuses on the time you spend on a particular project, highlights when you are overbooked, and helps you plan your time better.

    Tickspot

    Pricing- $149/ Month for Unlimited Projects

    This one allows you to keep track of your work hours as well as the time you spend on each project. In fact, you can even see how close you are to using up your client’s allotted budget.

    Klok

    Pricing- $18.99 Per Feature

    As the name suggests, Klok is a time management tool and it allows you track of your time. You can keep track of the time you spend on each project; just start and stop tracking by just clicking a button. You’re able to generate multiple reports based on this information.

    Ora Time and Expenses

    Pricing- $6/ Month

    The name says it all. Ora lets you track expenses, keep a list of your tasks, run a timer on your tasks and well, keep things organised. It is where you can work with your team and have everything the team might need during the time for work.

    ToggI

    Pricing- $10/ Month

    A productive time tracking tool, ToggI lets you track time the time you spend on each project. You can manage your own time as well as the time of your collaborator’s time to work out the total time spent on each project.

    OfficeTime

    Pricing- $69 Onetime Fee

    OfficeTime helps manage your time better. That being said, it allows you to see exactly how much money you are earning per hour and know who is really paying you your actual worth.

    Timesheet

    Pricing- $4.50/ Month

    Timesheet is a time tracker tool that makes it easier for you to record your work hours. With timesheet, you can calculate your estimated income, handle hourly rates, keep stats, generate time or expense reports and manage expenses, among other stuff.

    MyClientSpot

    Pricing- Not-known

    A very handy tool, this one offers to keeps track of your billable hours and helps you keep your work organized. It provides online project management functions and helps out with time management.

    Focus Booster

    Pricing- $4.99/ Month

    Focus Booster is a time management tool that allows you to break your tasks in segments and time them accordingly. All you have to do is start and stop the timer. Besides, the tool also makes provision for automatic 5-minute breaks after every 25 minutes of work.

    Streaks

    Pricing- $4.99/ Month

    This app follows the model of the popular “don’t break the chain method”, everyday. Use your goals, to track your per-day activities and progress and even set up goals. This to-fo list tracks every certain goal of yours.

    Azendoo

    Pricing- $10/ Month

    Another tool that helps you manage your workflow, Azendoo lets you view analytics, attach documents and work as your personal organiser. It also lets you add checklists, plan your calendar, send direct messages to team members, and set due dates.

    Freedom

    Pricing- $8.99/Month

    Freedom is founded by Fred Stutzman in 2009. This tool is designed to cater to just one unique purpose that is to stop you from wasting your time on your phone. It helps bar out unnecessary distractions by letting you set a work schedule on its platform, during which it blocks distracting apps and websites.

    Flow

    Pricing- Free

    This tool helps you to manage your workflow by letting you create workspaces and tasks, collaborate with your team members through inbuilt chat, and organise all your assignments and private tasks.

    GetHarvest

    Pricing- $12/ Month

    A time management tool, Harvest offers time tracking and invoicing services with pricing plans from free to premium. It works on iPhone, Basecamp, Beanstalk and has a WordPress plugin and more.

    Backup Tools for Freelancers:

    iCloud

    Pricing- $9.99/ Month

    The apple app, iCloud lets you backup and sync your devices using your Apple ID.
    You can store anything here, from photos, notes, files to other data. While signing in this, you get 5GB free storage at first.

    DropBox

    Pricing- $16.99/ Month

    DropBox Logo

    This tool lets you upload and transfer any files of yours and share them. IT is a great backup service, DropBox automatically backs up all the data of your computer, without you having to worry at all.

    Mozy

    Pricing- $10/ month for 125 GB

    While you are working on so many projects, you need a backup. Mozy is a backup tool that lets you do just that. It was founded in the year 2005 by Josh Coates. It can be used both in Windows and Mac.

    Marketplace Platforms for Freelancers:

    Truelancer

    Pricing- $50 or 5% of total project value

    Truelancer is founded by Dipesh Garg in 2014. If you call yourself a freelancer, you already know what a blessing Truelancer is. Truelancer not only helps you find more work but also helps you find and meet potential clients and build a network.

    Upwork

    Pricing- 20% for the first $500 project

    Upwork Logo

    Upwork is founded by Stratis Karamanlakis, Odysseas Tsatalos. Yet another platform for landing work, Upwork lets you make a free profile, crate and promote gigs, bid on projects, and meet clients.

    Fiverr

    Pricing- 20% of the gig fee

    Fiverr is a freelance haven that allows you to find jobs or ‘gigs’. The service sellers have the option to choose a starting price for their gigs, the quote starting from $5 (hence the name!). Consequently, one gets to offer different gigs at different prices.

    Workana

    Pricing- $4.90/ Month

    As the name suggests, this online tool helps you to find work on a variety of work genres. Businesses can hire freelancers from this site for their work. It is one of the finest places where freelancers and small businesses to big ones can get connected.

    Social Media Management tools:

    Social Oomph

    Pricing- $13.94/ Month

    Social Oomph was founded in the year 2008 and it comes with a set of some great social networking tools that help you market your services and stay at the top of your game.

    Buffer

    Pricing- $15/ Month

    BufferApp is founded by Leo Widrich. This one is a social media management tool, it helps you manage all the social media platforms of your business. This includes a number of articles that will help you learn and run your business better.

    Tweriod

    Pricing- Not-known

    Tweriod lets you handle your social media (especially Twitter) with ease, by constantly providing you with statistics, your campaign’s reach, their popularity, all the while, analyzing your followers, keeping reminders, and providing charts displaying the most popular hours on Twitter for your followers.

    Other Important Tools for freelancers:

    Linkedin

    Pricing- $29.99/ Month

    LinkedIn Logo

    LinkedIn is founded by Reid Hoffman, Allen Blue, Konstantin Guericke, Eric Ly, Jean-Luc Vaillant in 2002. LinkedIn is a widely acclaimed platform that not only lets you establish your professional identity, but also build a network, find jobs and connect with possible clients with its built-in mailing and messaging service.

    LifeHacker

    Pricing- Not-known

    LifeHacker is founded by Gina Trapani. Just as the name suggests, this site helps you by keeping you updated with recent technology, lessons on innovative thinkers, and daily life hacks.

    Plagiarism Check

    Pricing- $39.95 Per Feature

    Plagiarism is a sin to any creator. Any content that is copied, this tool helps you detect the amount of plagiarism your copy contains by screening your document for plagiarism with 5 search engines- Google, Yahoo, Babylon, Google Books, and Google Scholar. You can also use other websites for it, there are tons of tools available for plagiarism checking.

    Termsfeed

    Pricing- $56 Onetime fee

    Termsfeed comes to your rescue when you need some legal assistance. This tool offers a range of templates to help you craft statements for a variety of purposes- return policy, terms and conditions, privacy policy, and terms of service. And all you have to do is answer a couple of questions to frame the right contract.

    Pro Blogger

    Pricing- $5.99/ Month

    Pro Blogger step into the market in 2004 and since then it has been the best bet for Freelancing, this tool helps you to curate content, organise ideas and create blogs to promote your online market presence.

    LKR Social Media

    Pricing- Not-known

    This is a blog run by social media marketing expert, Laura Roeder. The blog is a great source of learning, for freelancers looking to promote themselves online, covering a wide range of topics, from designing an effective sales page to top tools to organize your work.

    Contently

    Pricing- Not-known

    This platform is a SaaS content marketing platform that gives organisations an opportunity to create great content that helps them get the audience and build their brands.

    Trello

    Trello is a collaboration tool that lets you organise your work projects, invite coworkers to collaborate and create shared perspectives, add checklists, upload photos and videos, and a lot more. Trello does offer free service, open to one and all with some limited offers. if you want extra features, you have to pay.

    TinyScanner

    Pricing- Free

    A handy app for android and iOS, TinyScanner lets you scan your work documents from your device’s camera and turn them into PDFs. It even lets you customize page size and share the scanned PDFs.

    SlideShare

    Pricing- $19/ Month

    Slideshare helps you present your ideas in an organised manner and thus showcase your clients your skills, expertise, areas of interest, and competency. Any kind of presentation, infographics can be shared here by businesses.

    Briefbox

    Pricing- $9/ Month

    Offering a collection of hypothetical briefs or templates for a variety of genres, Briefbox allows you to simply pick one of the editable briefs and start designing, as per your need.

    MindMeister

    Pricing- $2.49/ Month

    Mind-mapping is the predecessor to great ideas and MindMeister offers you that by ditching the traditional pen and paper method. Create mind-maps on your electronic devices free or buy the premium plan and enjoy additional benefits.

    Text Expander

    Pricing- $3.33/ Month

    Text expander helps you send emails faster, by pre storing all the information, predicting content from the stored info, predicting pictures, and making sure the content does not sound too similar or contain duplicate info. You can also pre-program to fix typos you often, use different signatures for different clients, and auto-insert forms.

    Conclusion

    The freelance industry is going in a tremendous way and it is not going to stop anytime soon. With the different advantages of working as a freelancer, more and more working professionals are choosing this industry. All the above tools are to make the work of a freelancer a little bit easier.

  • Finly – Tools to Help Businesses Manage Expenses Better

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Finly.

    Keeping track of expenses and payables is crucial for every business. Account Payable automation or AP automation software simplifies tasks like submitting invoices, managing approvals, and processing payments in a fast, error-free and transparent manner. This is the reason why many businesses are adopting Accounts payable automation these days. As reported by Adroit Market Research, the Account Payable Automation software market will be valued at US $ 4 Billion by 2025. One of the top companies providing this software in India is Finly. Finly also offers software for expense management, e-procurement, budgeting and offers various expense and budget-related insights that can help managers and accounting professionals take important business decisions.

    In this article, we have covered all about Finly, its founders, the story behind the inception of the startup, its products, revenue, and plans.

    Finly – Company Highlights

    Startup Name Finly
    Headquarters Bengaluru, Karnataka, India
    Industry Financial Services, Accounting, Information Technology, FinTech
    Founders Veekshith Rai and Vivek A G
    Founded 2015
    Current CEO Veekshith Rai
    Website www.finly.io

    Finly – Latest News
    About Finly and How it Works?
    Finly – Name and Logo
    Finly – Founder and History
    Finly – Mission and Vision
    Finly – Business Model
    Finly – Revenue and Growth
    Finly – Funding and Investors
    Finly – Competitors
    Finly – Challenges Faced
    Finly – Future Plans
    Finly – FAQs

    Finly – Latest News

    In December 2019, Finly raised an undisclosed amount of funding from investors like Gemba Capital, AngelList India, Omphalos Ventures, Social Capital, and 91springboard.

    We believe the team has built a fantastic SaaS product for the global market,” said Adith Podhar, Gemba Capital managing partner. “With Finly, a CFO can time his payments to better manage cash and capture early payment discounts, reduce invoice processing time and costs, and engage the accounts payable department in more strategic, higher-value activities.” Adith added.

    About Finly and How it Works?

    Finly is a financial management and governance software business. It provides a platform that enables businesses to automate, get visibility into, and manage their expenditure swiftly.

    Finly created cloud-based expenditure management software to automate all corporate payments and transactions. The company’s software allows businesses to use cashless transactions by providing expenditure management, money distribution, digital payments, automated collection, and vendor payments.

    Finly began with a simple notion: to help businesses better understand their spending and costs. Finly was created to help your organization establish better procedures, resulting in a system that is much more cost-effective and time-efficient. They believe that by replacing standard cost reporting systems with Finly, they would be able to make the entire process more hassle-free, resulting in higher employee satisfaction.

    Finly offers a SaaS component that automates all financial operations within the company. To digitize all external financial transactions, the SaaS component connects with every type of payment instrument in India (UPI/ NEFT/ IMPS/ RTGS/ Prepaid Cards/ Credit Cards) enabling businesses to make seamless transactions.

    The SaaS solution allows multiple stakeholders (spender/reviewer/finance team/vendors) to interact and cooperate while giving the finance team comprehensive insight. The solution maintains all internal corporate systems up to date with real-time financial activities.

    Finly maintains all corporate business systems in sync and provides the most dynamic reporting on the industry by giving the company comprehensive visibility into its spending. Their objective is to give finance teams technology and analytics that allow them to have powerful insights into their spending, allowing them to make informed strategic decisions and removing any cost management roadblocks as your company grows.

    Finly offers software for company cost management, digital cash distribution, vendor payments, and GST-compliant invoicing and payments to assist businesses to automate and simplify their spending.

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    The ‘Fin’ in Finly refers to the company’s financial management and governance software business.

    Finly' s Company Logo
    Finly’ s Company Logo

    Finly’s tagline says, “Control, Optimize & Strategically Reduce Business Spend By Digitising Accounts Payable Process with a Scalable AP Automation System”

    Finly – Founder and History

    Veekshith Rai and Vivek A G founded Finly in 2015.

    Veekshith Rai - Co-founder and CEO of Finly
    Veekshith Rai – Co-founder and CEO of Finly 

    Veekshith Rai and Vivek A G had been friends since they were adolescents, and after graduating from an engineering school in Bengaluru in 2012, they got interested in digital money. Veekshith worked for Mindfree Labs, and Vivek for Accion, and they both worked in IT. However, after only 3 years, they realized they had arrived at a major revenue opportunity: expenditure management.

    Finly, a company expenditure, and cost management solution, was born out of this need.

    “Before settling on this concept, we had honed in on five challenges we were interested in solving,” Veekshith explains. “We put together pitch decks and contacted industry experts, investors, and advisers. We froze upon Finly and developed a prototype to obtain our first set of clients after feedback, numerous revisions, and a lot of deep ideation.”

    During the initial stage, the founders narrowed down possible clients regarding the problem and other factors and shared the product concept with Chief financial officers. After receiving a partial payment, they began development on the system and rolled it out in stages.

    Finly – Mission and Vision

    Finly’s mission and vision statement say, “Finly Corporation is committed to providing our clients with a high-quality product and outstanding service. When clients use any of our goods or services to develop projects, we try to offer them security and peace of mind. We strive to be at the forefront of innovative technology and manufacturing processes.”

    Finly – Business Model

    Finly is focusing on the B2B market since the B2C market has been significantly disrupted by technology like UPI and applications such as PayTM and PhonePe, which have reduced reliance on cash.

    Businesses, on the other hand, continue to rely on traditional payment processing systems. This is mainly because of two reasons: banks’ ongoing concentration on major operations and their failure to consumerize modern banking technology with software commodities that address current business demands.

    Finly’s business model is built on a per-user, per-month cost that is determined by the module selected by the client. They also demand a transaction fee, which is determined by the form of transaction utilized by the company.

    “Payments, an integral part of financial operations, remain disconnected from current processes. But payment technologies like UPI, currently open only to the B2C segment, will further drive adoption of digital payments when rolled out to the B2B segment,” says Vivek.

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    Finly – Revenue and Growth

    • Finly’s yearly revenue is now projected to be $7.1 million.
    • Finly’s revenue per employee is expected to be $145,000.

    The founders invested little more than Rs 1 crore in the firm, which is producing close to Rs 7 crore in revenue. The founders however have not confirmed the company’s revenue.

    Finly – Funding and Investors

    Finly raised an undisclosed amount of funding in December 2019.

    Date Round Amount Lead Investors
    Dec 21, 2019 Seed Round – Das42 Capital, Gemba Capital, Social Capital, 91springboard

    Finly – Competitors

    Finly is a SaaS company that competes with Expensify, SAP Concur, Zoho, Pleo, G2 Storefront, Happay, and Fyle.

    Finly – Challenges Faced

    According to Veekshith, the road ahead isn’t really a bed of roses.

    • Changing the habits of finance teams is one of the company’s difficulties. However, Finly combats this challenge with a robust customer success staff that follows up with its clients after the transaction.
    • The other challenge for the company is having strong business professionals with a mix of sales, technology, and financial skills.

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    Finly – Future Plans

    Finly presently works with over 100 clients, and is working to increase the client base. The company will add more intelligent products to its suite in future.

    V Ganapathy, CEO of Axilor Ventures, says: “This market is a big opportunity and this startup helps clients track all their financial expenses. We believe Finly has figured out the market reach and is scaling fast.”

    Finly gives CFOs and finance teams comprehensive insight and control over payables. All while improving Finance Teams’ productivity by over 80% via the use of a sophisticated Finance Communication Framework to automate tedious and repetitive procedures and ease wireless communication within Finance Teams. With its intelligent software Finly is all set to change the way Finance teams across industries work.

    Speaking about Finly’s vision, co-founder Vivek AG says, “We think that the future generation of finance teams will not spend time on manual labor for day-to-day activities such as processing vendor payments, reconciling invoices, tracking advances, and so on. Finly will assist finance teams in important duties such as analyzing and tracking vital indicators related to the company’s growth.”

    Finly – FAQs

    What does Finly do?

    Finly is a financial management and governance software business. It provides a platform that enables businesses to automate, get visibility into, and manage their expenditure.

    Who founded Finly?

    Veekshith Rai and Vivek A G founded Finly in 2015.

    How does Finly make money?

    Their business model is built on a per-user, per-month cost that is determined by the module selected by the client. They also demand a transaction fee, which is determined by the form of transaction utilized by the company.

    Which companies do Finly compete with?

    Finly is a SaaS company that competes with Expensify, SAP Concur, Expensify, Zoho, Pleo, G2 Storefront, Happay, and Fyle.

  • How To Eliminate Backlogs In The Accounts Payable Process

    Accounts payable refers to money owed by an organization to its creditors, which is listed as a financial liability on the organization’s balance sheet. For most companies, accounts payable are recorded as assets with the exception of certain types of accounts that are considered receivables.

    Take note that this is different from general bills–liabilities incurred by formal legal document instruments. General bills are general categories of debt, such as rent or mortgage payments. These accounts are not included in the balance sheet and are usually depreciated over time in the cost of goods sold.

    As a business’ operations go into full swing, it’s easy for all the accounts payables records to pile up. A common problem experienced by many is the backlogs of the accounts payable. If you’ve been experiencing backlogs in your business’ accounts payable, here are some of the best tips to help solve your problem:

    Use Technology To Your Advantage
    Remember To Stay Accurate At All Times
    Employ The Services Of A Good Financial Planner And Accountant
    Optimize The Key Steps In The Entire Process
    Apply For A Paperless Environment

    Use Technology To Your Advantage

    There are now software programs that can automate manual tasks in your business processes, such as NetSuite AP automation. Using such software can shorten and simplify the entire process. That way, you become more efficient with your time, helping you avoid both backlogs and human error.

    Here are tips you can apply when using accounts payable reporting software:

    • Use laser printed checks as these can automatically update the system;
    • Incorporate functions that enable you to analyze and reduce errors, such as the paying of incorrect amounts;
    • Run aging reports from time to time, such as through regular check runs.

    Remember To Stay Accurate At All Times

    Above all other factors you should remember when recording and going through the accounts payable process, the most important is to stay accurate all the time.

    If you stay accurate in every step of the process, this can greatly eliminate your backlog. This is because it lessens the need for accountants to go through every step of the process just to double-check for any imbalance. More so, you can be confident in your system since you’re able to prevent fraud altogether.

    Before processing any invoice for payment, you may want to ask the following questions:

    • Are all the unit costs and calculations, including tax, correct?
    • Does the invoice record the exact amount that the company ordered?
    • Has the company received the goods or services billed in the invoice?

    Employ The Services Of A Good Financial Planner And Accountant

    Financial Planners
    Financial Planners

    A good accountant works hand-in-hand with financial planners. After all, these are the professionals that are equipped with the skills and knowledge in accounting.

    If you want to manage your accounts well, you need to get hold of a good accountant and financial planner. They’ll provide you with relevant information about your financial affairs and advise you accordingly.

    Furthermore, financial planners and accountants help organizations and people to take advantage of the opportunities available in the present economy. They help business people and companies maximize the benefits of their investments while minimizing the risks associated with financial dealings.

    Optimize The Key Steps In The Entire Process

    The accounts payable process doesn’t need to be always confusing. In fact, you can speed up the entire process by optimizing the key steps involved.

    These key steps can be summarized into three:

    • Completing the purchase order, which refers to the process of setting out items or services to be purchased, including their respective prices;
    • Processing the receiving report, wherein the supplier records the goods or services provided and lists all the payments that are owed;
    • Receiving and processing supplier invoices, whereby your business processes it for payment.

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    Apply For A Paperless Environment

    Going paperless is a great way for companies to save a lot of time and effort in the business process. This applies to both big and small businesses that are yet in the start-up phase.

    The idea behind this process is that documents can now be stored electronically without having to print them out. This means that paper, pens, envelopes, and more are already irrelevant. With this, the whole process, even beyond accounts payables, speeds up.

    The paperless business has a number of advantages, such as the following:

    • You get faster access to important documents and other information.
    • You have more control over costs.
    • You can shorten what would’ve otherwise been a long and repetitive process as there’s no more time spent on printing, stamps, etc.
    • You can increase employee productivity by allowing employees to use the business’s own computer and e-mail system.

    When using paperless software for accounts payable, here are some tips you can apply:

    • Creating a few folder templates in Microsoft Office can be very helpful in the beginning because they can give an image of what you would expect to see with these folders. It’ll also give you an idea about how they should be organized.
    • Once you have your new folder templates in place, you can then start organizing them. The easiest way to do this is to use folders that are similar to a traditional file folder, but you can include all the same fields.

    Another useful option is to create folders that look like a regular letter, which you can send to your employees as a reminder of their work and responsibilities.

    With so many different options for storing important files online, you can even choose a paperless filing service that provides its users with a website that they can log in to anytime and access documents and files in the online facility. Basically, the possibilities are endless–you just need to keep trying.

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    Conclusion

    Accounts payable reporting is a vital part of the business sector, particularly accounting and finance. It records financial transactions in terms of payments received or made by an entity in respect of accounts payable. The accounts payable reporting also includes the identification of financial resources that are required to pay off accounts payable.

    With all the work involved in ensuring that the reporting is accurate, it’s also common for businesses to experience regular backlogs. The tips above can guide you so you won’t have to suffer the same fate.

    FAQs

    What is Accounts payable?

    Accounts payable (AP) is a current liability that a company received goods or services on credit from vendors.

    What’s the difference between accounts payable vs. receivable?

    While accounts payable (AP) is the amount of money a company owes its vendors, accounts receivable (AR) is the amount of money owed to a company from its customers. AP is a current short-term liability and AR is a current short-term asset.

    What are accounts payable examples?

    Examples of Accounts Payable Expenses – Accounts payable differ from other types of current liabilities like short-term loans, accruals, proposed dividends and bills of exchange payable.

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  • Instamojo or Razorpay – The better Online Payment Gateway

    As of today, 160 million unique digital payments users are found just in India, which accounts for about 13% of the population. In European countries, the percentage is as high as 68%. The pandemic has further boosted the use of digital payments. This triggers a question, that being, “Which is the best suited platform for digital transactions?”

    Here, we are going to discuss and compare two digital payments platforms, namely Instamojo and Razorpay, both of which were founded in India, with a difference of 1 year. Although the primary difference in the interface one would notice, is that while Instamojo is more of a payment processor and uses payment gateway in the back-end, Razorpay is in itself a proficient payment gateway with a plethora of other options such as payment links and webhooks, there are many other factors which draw the line.

    Instamojo

    Razorpay

    Instamojo vs Razorpay
    Conclusion
    Frequently Asked Questions

    Instamojo

    Founded in 2012 and based in Bengaluru, Instamojo is a convenient and adaptable payment gateway solution, which seamlessly integrates with websites through the use of feasible APIs. When it comes to online payments, the user usually looks for security, transaction speed, and transparency. Instamojo has all of these to offer and more.

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    Instamojo digital payments platform

    Pros of using Instamojo:

    • Instamojo has an excellent pricing model compared to its counterparts. With a freemium approach, the its basic services come free of cost, while the more advanced features are priced.
    • It also offers management of gift cards for a positive customer experience.
    • Instamojo also has an efficient fraud protection algorithm to prevent unnecessary revenue losses.

    Cons of using Instamojo:

    • Instamojo doesn’t work for you if you are a freelancer. It is specifically built to cater to the needs of small to large enterprises.
    • There is no subscription based plan like Razorpay.
    • Instamojo has a relatively limited availability, and is not available on WinPhone, IOS or Macintosh.

    The interface is designed in such a way that the user has the convenience to provide payment links on their website, add pay buttons with integrated payment gateways. Instamojo is a multi-channel payments collection, encompassing some great amenities such as effortless checkout and payment links. Through the use of payment APIs, platform plugins and webhooks, Instamojo integrations with a website or a stack has never been easier. Along with that, its Android SDK enables payment through applications through Android integrations.

    Features offered by Instamojo:

    Instamojo free version Instamojo premium version
    Payment gateway available Payment gateway available
    Transaction fee is 5% + 3 Transaction fee is 2% +3
    Allows 1 picture for each product Allows 10 pictures for each product
    No offers or discounts Offers, coupons, discounts and gift cards

    All the mentioned payment methods come with payment analytics and a post payment customizable experience, which makes the experience of both, the user and the customer, an inordinate one.

    The analytics feature that Instamojo has to offer is no less than the payment aspect. It offers analysis and overall rundown of the sales performance which not only helps manage payments, but also offers insights as to where and in what domain the strong suite lies. It also allows you to Geo-navigate your customer base and engagement with real time performance comparison as well as gives a detailed look on the payments through an organized and user-friendly dashboard. Also, even if the payment fails, Instamojo adds it as a lead as well as allows you to communicate with your potential customers to make their experience a bit more personalized.

    Instamojo is more than just a payment gateway. Instamojo provides complete business solutions right from business capital requirements shipping & logistics.

    Instamojo offers a suite of products to help businesses grow. The business solutions are as follows :

    1. mojoCommerce: mojoCommerce is a free online store, you can sell your physical and digital goods through the platform.
    2. Smart Links: Smart payment links can be created with the help of Instamojo smart links. These smart links help to make payments faster and collect customer data.
    3. Instamojo App Store: As a business, you can connect your favorite apps with Instamojo through the Instamojo app store.
    4. mojoCapital: mojoCapitals allows people to simplify and resolve their business cash flow requirements and capital requirements.
    5. mojoXpress: mojoXpress provides delivery services for businesses. It delivers to more than 12000 pin codes in India.Instamojo for Developers: Simple Payment APIs and Plugins to integrate into websites or mobile apps.

    Razorpay

    Razorpay was founded in 2013 and is based in Bengaluru as well, with the current serving CEO, Harshil Mathur since 2014. One of the first few things that crosses your mind when it comes to a successful payment application is its user base, because that is what reflects its reputation and usage. That is exactly where Razorpay excels; with a market of more than 8,00,000 users, Razorpay flaunts an interactive interface with features such a automated receipts and custom payment pages.

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    Razorpay online payment gateway 

    Pros of using Razorpay:

    • There are a plethora of Razorpay integrations which you can embed, including OpenCart, WordPress, and Wix.
    • It offers a standard and enterprise edition for user specific needs. Both the models are completely customizable with branding features.
    • Razorpay offers its users 24/7 live customer support.
    • It also offers a fixed processing charge, which is usually less than Instamojo, although by a small margin.

    Cons of using Razorpay:

    • There is no standard or free version of Razorpay, which although does not make it any less efficient, the users do not really have a trial option.
    • Offers no customer friendly amenities such as gift cards.
    • Razorpay does not use Secure Sockets Layer(SSL) support, and hence, is less secured.

    With a payment gateway that supports Credit/Debit cards, Netbanking with over 50 banks, UPI and various mobile wallets, Razorpay has a plethora of payment modes which make it customer friendly and accounts for a greater transaction number due to the availability and variety of payment methods. Its powerful and interactive dashboard offers in-depth analysis and statistics on payments, invoices, and refunds making it easy to use. Also the real-time stats help user in strategic and performance based decisions and generate custom reports.

    Features offered by Razorpay:

    Razorpay Standard features Razorpay Enterprise features
    Designed for small and medium business Designed for big enterprises
    Transaction charges 2-3% Custom pricing for business needs
    Support via email and call Offers 24/7 priority support
    Complete online activation Online activation within 24 hours

    Many a times, a customer is retained by the ease of interface and transaction if you have an online marketplace. Razorpay offers seamless and android integrable SDKs(one of the lightest there is, with about just over 200KB) with features such as auto update and auto fill OTP, which helps provide customers, the best experience.  Thirdwatch, a subsidiary of Razorpay, helps you track fraud customers and recognize non deliverable addresses, saving users from unnecessary revenue loss. It is an AI based engine which recognizes and flags the high risk addresses with a red and low risk ones with green color, which is quite convenient, to say the least.

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    Comparison between Razorpay and Instamojo

    Razorpay Instamojo
    24/7 tech support and live rep Does not offer live rep
    Built for all MSMEs and caters to individuals as well Does not support individuals and/or freelancers; only enterprise support
    Does not offer SSL support making it less sequre Secured through Secured Sockets Layer(SSL)
    Razorpay Pricing for MasterCard, Debit Card, Visa and net banking is 2% Pricing for MasterCard, Debit Card, Visa and net banking is 2% + INR 3 and 5% for digital goods
    Offers mobile optimization on standard and enterprise version Does not permit mobile optimization
    Permits recurring payments Does not allow recurring payments
    Auto-update feature updates the application with every new mobile wallet update to hit the market No auto-updating available for mobile wallets
    Failed payments are not handled as well Failed payments are altered into leads and are organised
    Does not allow personalised customer interaction Allows a more personal interaction with customer

    Conclusion

    To say, one works better than the other would be quite unjust, since both of these applications excel at user specific areas. While Instamojo charges a little more than Razorpay, it also offers SSL security. Moreover, while Razorpay offers mobile optimization for both of its versions, Instamojo gives away gift cards for better customer service. An apt comparison would be that Razorpay can be used for even individual business and freelancing purposes, on the contrary, Instamojo could be slightly more suited to bigger enterprises which demand security.

  • Best Accounting Software For SaaS

    It’s not easy to check through all of the SaaS accounting software options. There’s a lot of platforms to choose from across every operational aspect of your company. Onboarding each of them requires a ton of setup and spending the time to learn their nuances. Then, of course, there’s the cost of purchasing licenses to consider. And finding the best accounting software for SaaS companies is doubly hard: You have even more options than other types of small business owners do, and figuring out the differences among all these accounting software packages is tricky at best.

    However, there are a couple of key things that differentiate the best SaaS accounting software options from the rest of the crowd. They are:

    • Scalability: Most SaaS companies are growth-minded, meaning you need accounting software that can keep up with your business as it expands.
    • Automation: SaaS is a fast-paced industry. Nobody wants to spend all their time doing accounting, so you need a solution that is as high-tech as the service you provide. Automation allows you to focus less on your books and more on your business.
    • Multi-Business Support: SaaS encompasses a wide range of business types. Your software needs to provide a solution that can account for that.

    Best Accounting Software for SaaS

    Now that we know what to look for, here is our top pick for the best accounting software for SaaS companies:

    QuickBooks Online

    best accounting software for SaaS business
    Quickbooks online

    One of the top options for the best accounting software for SaaS companies is QuickBooks Online. You’ll have a hard time finding a platform that’s as scalable as QuickBooks Online: The software offers different levels of support that accommodate your company’s evolving needs as it expands. Plus, the setup is easy and the bookkeeping is intuitive.

    best accounting software for SaaS business
    Quickbooks dashboard

    Getting more specific, there are several reasons QuickBooks Online is such a good option for SaaS companies. They are:

    1. Requires No Manual Data Entry.
    2. Grows with Your Business.
    3. Makes It Easy to Track Your Financial Health.
    4. Has a Helpful Virtual Community.

    Best for small businesses seeking accounting software suitable to their size. QuickBooks pricing starts at $5.00 per month, per user. There is not a free version of QuickBooks but QuickBooks does offer a free trial.

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    Netsuite

    best accounting software for SaaS business
    Netsuite

    According to NetSuite’s website, it offers a financial management solution that expedites daily financial transactions, accelerates the financial close and ensures compliance. Its cloud-based single platform architecture ensures complete real-time visibility into the financial performance of the business from a consolidated level down to the individual transactions.

    It offers the following features:

    1. Core accounting functionality.
    2. Billing management.
    3. Revenue recognition.
    4. Financial planning/reporting.
    5. Global accounting and consolidation.
    6. Governance, risk, and compliance.

    NetSuite’s cost depends on several factors including the selected product configuration, add-on modules required, total user count and contract duration. Taking all this into account, NetSuite’s base license pricing begins at $999 per month with general user access listed at $99 per month. Advanced NetSuite feature modules are available which can be a beneficial enhancement to a standard platform license. Add additional users as needed by purchasing individual access via any browser on a universal cloud-based platform.

    NetSuite licenses operate on a subscription model and may be renewed annually or over longer durations. There are several pre-bundled vertical editions, which can be useful in quickly identifying the necessary package and modules needed. You decide which one is best and when you are ready to add more capacity.

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    FreshBooks

    accounting software for SaaS
    FreshBooks

    FreshBooks is designed specifically for small businesses, so if your SaaS company is still in its early stages, this could be a good option. FreshBooks offers three different small business accounting solutions—Lite, Plus, and Premium. Each option is designed for businesses in different stages of growth, with the Lite plan being the least expensive and the Premium plan being the most expensive.

    accounting software for SaaS
    FreshBooks pricing

    The features you get with FreshBooks depend on the plan you sign up for, but all plans come with the following features, which are essential for SaaS accounting:

    1. Invoicing (including recurring invoices and late payment reminders)
    2. FreshBooks Double-Entry Accounting tools help you make choices based on actual business data and insights.
    3. Automated expense tracking.
    4. Create a summary report and export it to Excel.
    5. Time tracking.
    6. Collaborative tools (file sharing, centralized product conversations).
    7. Invite your accountant to your FreshBooks account with just a few clicks. Your accountant will get exclusive access to the financial information and reporting they need to support your business, whenever they need it.
    8. Payment processing.
    9. Reporting (P&L statements, accounts aging).

    FreshBooks is available at a price that is comparable to QuickBooks, and it features very similar accounting functionality. This makes it a great alternative to consider for those looking for SaaS accounting.

    Zoho Books

    accounting software for SaaS
    Zoho Books

    Zoho Books is an online accounting software that allows you to easily manage the money flowing in and out of your business. Manage your customers and invoices, while keeping expenses in check. Record, monitor and reconcile your bank accounts and transactions, and collaborate with your accountant in real-time. Most importantly, Zoho Books helps you make better, more informed decisions and stay on top of your business.

    accounting software for SaaS
    Zoho books pricing

    Features at a glance:

    1. Create GST invoices in seconds.
    2. Give your customers online payment options and get paid faster.
    3. Create and send purchase orders.
    4. Keep track of inventory levels at all times.
    5. Organize your inventory with vital information like SKU, cost, and stock on hand.
    6. Set up rules to categorize your banking transactions for easier reconciliation.
    7. Create, edit, and manage your customer and supplier contacts from within Zoho Books.

    There are three pricing options for Zoho Books – Standard (₹2,499 per Organisation/Year, 3 Users), Professional (₹9,999 per Organisation/Year, 4 Users), and Premium (₹19,999 per Organisation/Year, 7 Users).

    Conclusion

    Whether you’re just forming your SaaS company, or have begun to hit your stride and need a seamless way to manage your finances, accounting tool provides a robust way to manage your company’s money from top to bottom. No matter which software you choose for your SaaS accounting needs, before you set out on your search make sure you know precisely what you need your accounting software to do for your business. So, which tool are you using for accounting? Please let us know in the comments section below.

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    FAQs

    What is SaaS accounting software?

    SaaS accounting is a model for accounting software whereby the application is hosted by a service provider. Instead of installing and maintaining software locally, SaaS software is securely accessed through a PC or mobile device.

    Is QuickBooks a SaaS?

    Yes, QuickBooks – This is the tool for all your accounting needs. They also have a free trial so you see if it meets your need! Salesforce – A CRM software that can be used to scale business.

    What accounting software do startups use?

    One of the top options for the best accounting software for SaaS companies is QuickBooks Online.

  • All About Accounting Software for SaaS

    How many of us really like dealing with the nitty-gritty of running the accounting and bookkeeping operations of our companies? Unless you’ve got a passion for numbers (or you’re the founder of an accounting startup), you probably look at accounting as the least engaging, most time-consuming part of your day-to-day as an entrepreneur.

    Accounting Software for SaaS
    Accounting Software for SaaS

    So how do you keep track of your daily business accounting while also gearing up your business for future growth? You pick the best accounting software for SaaS companies. Implementation of the proper systems, processes and technology stack as early as possible is the solution. With the right accounting software for SaaS businesses, you can achieve a seamless flow of data between all financial processes in your business which would ultimately enter your cloud accounting system, ideally automatically.

    Also read:

    Spreadsheets vs. SaaS accounting software

    When you start making your first purchases for your startup, it’s easy to record them in an Excel or a Google Docs spreadsheet. Excel spreadsheets may seem perfect for the first weeks, or even months, as you’re getting your business off the ground, but continuing to manage your books that way — and not using real SaaS accounting software for your startup — is simply the wrong thing to do. This is true especially when you seek investments or venture capital to grow your business; when you show potential backers your financials in a handful of spreadsheets, chances of errors are higher and it looks unprofessional.

    Spreadsheets vs. SaaS accounting software
    Spreadsheets vs. SaaS accounting software

    There are certainly people who could maintain their financials for their SaaS startup in this manner. In these cases, they’d have to create very detailed spreadsheets with all the accounts and reporting elements of standard accounting. Spreadsheets like this would look a lot like accounting software, and the amount of time they’d take to set up and verify would be better spent on growing their business. The disadvantages of using Excel for accounting for your SaaS startup is about a lot more than just the way figures look in a spreadsheet. There is so much that can be wrong in a spreadsheet that investors can’t take that sort of financial data seriously.

    What SaaS accounting software offers?

    SaaS accounting software offers so much more than Excel that it’s really a no-brainer. Here are some of the best features that most accounting software provides:

    • Contact and project management: Set up your contacts, create projects, and manage your clients, all without having to copy and paste rows and columns.
    • Time tracking: If you bill your clients by the hour, most accounting software includes the capability to do this automatically. Create time sheets, then add them up when it’s time to issue invoices.
    • Invoicing: This is one of the most practical features of accounting software. You can easily invoice your clients, according to what you’ve sold them, how much time you’ve spent on their projects, and more. You can also create estimates, which you can then convert to invoices with a few clicks.
    • Price database: Depending on what your business sells — services, hardware, etc. — you can have a price database and update it as needed. You’ll always be charging your clients the correct prices. And you won’t need multiple calculations for sales tax; the software will handle that too.
    • Expenses: Accounting software handles expenses very well. Each team member has a role in the accounting software, and you can see, at any time, how much has been spent, and reimburse people accordingly.
    • Apply purchases and expenses to the appropriate accounts: Some of your expenses are for payroll, others for office equipment, and others for capital assets. Try separating those correctly in an Excel spreadsheet, especially when you need to calculate depreciation. Accounting software does this for you, and helps ensure best practices are followed in recording expenses.
    • Payroll and benefits: Handle payroll, payroll takes, reporting, and all the related expenses without breaking a sweat.
    • Bank feeds and reconciliation: With accounting software, you can have your bank transactions update automatically, and apply their expenditures to the correct accounts with a few clicks. Accounting software handles multiple bank accounts easily, and some software handles multiple currencies, so you don’t even have to look up exchange rates.
    • Cash flow projections: You can do this with Excel, with complicated formulae, but accounting software lets you see the big picture at any time.
    • Sharing: You may have a number of principals in your startup who need access to your accounts. With an Excel spreadsheet, you won’t all have access at the same time. Plus, you’ll never know if anyone has made a mistake. With accounting software, your accountant or CFO can check your books easily, and you can even give potential investors limited access to view your accounts.
    • Pretty printouts: Whenever you are seeking investments, you’ll need to show how healthy your business is. Accounting software prints out easy to read, standardized reports: your trial balance, profit & loss account, balance sheet, and more. You’ll look a lot more serious with accounts that investors can understand at a glance.
    • Audit trail: No one wants to get audited, but if you ever do face the scrutiny of the IRS, accounting software makes the process a lot simpler.
    • Support: When that person who set up the Excel spreadsheet leaves your startup for a different gig, who will be able to help out when something goes wrong? Accounting software includes support so when you don’t understand something, an answer is just a phone call away.

    Relevant read:

    Why are good accounting systems important for SaaS?

    The difficulty with SaaS businesses is that they are typically high transaction volume businesses, especially on the revenue side of things. It’s not uncommon to have thousands of transactions per month happening due to the recurring revenue model. When you have old, archaic accounting software (or even worse, spreadsheets), managing this high transaction load, it means that it’s very manual to reconcile and categorize your financial data on an on-going basis. You would need to enter every single one of these transactions 1 by 1 into your accounting system or spreadsheet in order to handle the accounting properly.

    Some SaaS businesses that we encounter even have 1 full time employee at the company just to handle data entry. Using this approach usually ends up with the company wasting time, wasting resources and not getting the data they need when they need it. With the right accounting software for SaaS businesses, much of this manual data entry and categorization process can be greatly alleviated.

    Focus on These Features

    Ok, you have decided that it is time to find a new accounting solution. Here are a few accounting-specific modules that you should ask about when assessing new software.

    Features
    Features

    Revenue Recognition

    Recurring revenue is the heart of your business. The revenue recognition process must be bullet-proof. Ask the vendor if they have specifically addressed ASC 606 or IFRS 15. Reporting is also key. Can you produce a report that shows recognized revenue by month by customer by product? Reports are also needed to prove out your deferred balances by customer. Your auditor will ask for this!

    Payment Integration

    If you invoice customers and receive a check or ACH in return, payment integration may not be relevant to you. But if your customers pay only by credit card, you’ll want a solid integration to Stripe or PayPal, for example, into your software. It must be able to track the meta data related to these transactions so that revenue recognition can be performed.

    Must read:

    Sales Tax

    This seems to be changing every year, and sales tax treatment on SaaS varies wildly from state to state. An out-of-the box integration that connects your accounting software to sales tax compliance software is necessary.

    Fixed Assets

    Software companies are typically not capital intensive in fixed assets (servers, expensive laptops, phone systems, etc.), but you do need a module for this. And it is a bonus if it also tracks the multiple “tax books” for GAAP, federal, and state purposes.

    Travel and Expense

    Does the software offer its own module to track and submit employee expense reports? And a mobile app? If it’s clunky, you may want to consider an outside T&E software vendor that integrates into your accounting system.

    CRM Integration

    Where does your quote and order begin? Integrating that information into your accounting system removes manual work, reduces errors, and most importantly, allows you to invoice faster so that can you accelerate cash flow. And cash is paramount in running any business.

    Conclusion

    If you’re going to eliminate the administrative nightmare of your accounting and start getting timely, accurate data, it all revolves in having the right accounting software for SaaS businesses in place, though choosing the right apps is just 50% of the equation to achieving stress-free accounting. The proper system architecture needs to be assembled, processes need to be defined so that everyone knows how data will flow between all apps and the right team has to be in place to maintain the integrity of the data on an on-going basis.