If you’ve ever done a Google search for “Bookkeeping software”, you already understand just how saturated the market is with options. In fact, there are so many options that it can be hard to tell which best fits your business and personal needs. Some software is great for contractors or really small businesses, other bookkeeping software scales up with growing small businesses. We know your business is unique, so we want to show you the different options available so you can make the most informed decision for your business!

Never fear! This blog is going to show you the best of the best out there, and why it is just so good that we think you should consider them first!

Overview: Best Small Business Accounting Software

We’ve picked out the four best options on the market below: Quickbooks, Quicken, Xero, and Wave Financial. Only the last of the four (Wave) is free, but each program can be extremely useful to you as a small business owner.

We know that time is mone...

“OK, what’s the difference between bookkeeping and accounting?”

It might seem like bookkeeping covers all of the finances of your small business, but there’s a lot of other information that bookkeeping simply does not provide. Bookkeeping is really only a slice of the accounting pie, and a healthy business needs more than one slice of pie.

Accounting Basics

Accounting, at the most basic level, is the system of recording and summarizing business finances. Now that might sound really familiar if you read our last blog, but stay with me! It’s more than just recording the transaction like we do when bookkeeping, accounting also means verifying, analyzing, and reporting these transactions. Accounting also includes the theory and method by which you do all of the above.

Bookkeeping is one of the systems that makes up accounting. So you need bookkeeping to do accounting for any business, but successful bookkeeping does not require in-depth knowledge about accounting.

Hav...

Consider Your Business name

A logo needs to represent your business, obviously! You’re going to want to have the business name somewhere in your logo. If the name is long, you might want to consider abbreviations or only part of the name.

You also have the option of using your design to show what your business is doing. You might not need a lengthy title to explain it.

A successful logo doesn’t have to convey a lot of information about your business. A successful logo helps people remember and quickly recognize your business instead.

Designing With the End In Mind

The most important thing to think about when designing your logo is where this logo is going to be displayed:

Will it mostly be in your emails?

Will you have it on business cards?

Will it be printed in advertisements or displayed online?

These questions are important because where your logo is displayed will affect what you can put on it.

The design rule of thumb is to always design for the LOWEST resolutio...

Final Round: Keeping Connected

Communicate in Style

Whether it’s clients or colleagues, you’ll need a reliable way to communicate, and there are so many options out there, you could spend each day of the year using something new.

We recommend finding several ways that you’re comfortable communicating with, as different business interactions may require different forms of communication.

Your clients will also have individual preferences, and this is where things like CRM (Customer Relationship Management) software start to be a consideration. Don’t worry about that, we’ll tackle CRM at the end of this post!

G Suite

I know what you’re thinking, “Really, you’re going to tell me about Gmail?!”

No, I’m going to tell you about the wonders of getting your business email and having it be “[email protected]”

Setting up a domain, or even just setting up a dedicated email for business contacts, adds professionalism to your work and communication. This is good for your curr...

Get Paid

The method you choose to track your time is really going to depend on your work style and habits, so we’ve compiled a list of some of the best available software out there to help you choose what’s right for you!

Some of these programs will work fine by themselves, while others will be more useful if you have chosen to integrate them with other applications or software.

Here’s our run-down on some of the best options:

MinuteDock

A tidy web-based application that can integrate with CRM (Customer Relationship Management) Software to facilitate invoicing for billable time. It requires a monthly subscription. MinuteDock is compatible with almost any internet-accessing device, so you’re covered on the go!

It works most like a stopwatch, and allows you to tag client(s) and add a description of your work. They don’t provide timestamps, so if you forget to pause or end your timer, you might have a little trouble; incorrect entries are easy to modify - you can change the ti...

Tech Resources:

A First Look: Document Management

So you’re ready to start bookkeeping, that’s great! There are a handful of things you’ll absolutely need to start:

1. A way for your clients to get their documents organized and available to you.
2. A place to store and access documents.
3. A way to track your work.
4. A reliable way to communicate.

There are enough programs and gadgets available to the up and coming bookkeeper that it’s reasonable to find your head spinning after your initial jump, but don’t worry, we have some recommendations to get you started!

A Home for Documents

There are hundreds of programs that boast quick and easy document organization, but not all of them are suited for you or your clients; below we have curated a list of some of the best and most widely used applications out there:

Wave

Made by Waveapp.com - this offers free basic accounting services and payroll and payments for a monthly fee. It’s billed as an all-in-one, no jargon, basic acc...

1. A Desk or Other Space

This may seem obvious, but you really do want a work space separate from your regular living space. Working from the couch can limit your productivity, and might not offer you the most comfort or the space that you need to be efficient! Which brings us to our next point…

2. A Good Chair

That’s right, where you sit MATTERS. Make sure that your chair fits your body! You want to have back support without cutting off the blood flow to your legs.

If you are particularly short or tall, we recommend sitting in a chair before buying it, so you know what is comfortable. You also have the option of picking up and exercise ball as a chair - they even make chair frames for them so you don’t have to worry about accidentally rolling away.

3. A Proper Computer Setup

Previous posts have suggested having at least a laptop and a second monitor; and here we’ll expand upon that. Whatever your typing on - you want it low enough that you’re not raising your shoulders...

1. Create a Dedicated Work Space

Dividing work life and personal life is not a new concept, but when you’re working from home it is critical.  By setting aside a place where you only do work, you can help you keep the two separate.

It can be as simple as splitting your desk into two distinct spaces, or as big as having a separate home office that you only use for work. The space should be comfortable and inspiring.

When you aren’t working, be sure to take your leisure activities away from your dedicated work space.

2.     Stick to your Schedule

The freedom of working from home can be double sided, you may be tempted to work too little or too much.

Set a schedule for when you want to work (don’t forget to take time for lunch and brain breaks) and try your best to stick to it. You may have to adjust your schedule multiple times before you find what works best for you!

Give yourself deadlines for finishing a project or task. After completion, give yourself a high-five and cro...

Do you ever work from home?

Do you have a separate space at home designated for regular & exclusive business use?

Now just to be clear….. We’re not talking about the kitchen table or your guest bedroom!

We’re talking about a separately defined space in your home where you only work on your business.   If this applies to your business operations from home...  then you may be entitled to deduct the expenses for the percentage of square footage your home office occupies.

I was surprised to learn (and you may be too) just how much you can save…. The IRS says this tax deduction brings self-employed persons who qualify, an average tax savings of $3,000 each year!

Okay, so how do we get this deduction?  You can claim the deduction one of two ways outlined below....

Regular Method

You can deduct a percent of your actual expenses based on the portion of your home devoted to regular & exclusive business use.  Included in the deductible home office expenses could be:

• Combined Totals of
...

We strongly recommend that you check and or purchase from https://www.newegg.com/ where you can find competitive pricing and reliable reviews. We do not receive any service or benefits from Newegg for this recommendation.

1. Uninterruptible Power Supply (UPS)

A UPS is a continual energy source that provides emergency power when your main input source goes out. They provide near instant protection from power interruption, outages or surges, at least several minutes, allowing you to save data and shut down your devices.

They are frequently used to protect databases, sensitive work information, and general productivity, and have a large range of sizes and utility.

There are small and portable versions which are a great starter option. You’ll want to make sure you can at least plug your computer, monitor, and internet router into the UPS, allowing you to save your work in the case of a power problem. If your situation includes multiple employees, you’ll want to work at a UPS...