The 5 Tools Vancouver Bookkeeping Services And All Businesses Should Use

Michael Pignatelli
Jul 28, 2021

Many people say that technology is a double-edged sword that has brought unwanted changes to society. But, on the other hand, it has also made a lot of difference in making people’s lives more convenient. 

Bookkeepers can attest to the latter, especially with the presence of different bookkeeping tools. Therefore, individual bookkeepers, bookkeeping services (Vancouver), and small business owners should consider using any of these seven best bookkeeping software for optimized and accurate work.

1. Quickbooks 

Since 1983, Quickbooks has been one of the most reliable bookkeeping tools used by bookkeepers in the US and is now used by practitioners worldwide. From its foundation until now, Quickbooks maintains its selling point of being the best bookkeeping software for small to medium-sized businesses. 

Pricing 

$1.60-$3.40/month depending on your choice of plan

Pros and Cons

As a business startup, you’ll need to create invoices, track all receipts, and get reports like profit and loss statements, balance sheets, and a quick view of your business’s health. Quickbooks provides all these functions and information.

However, for more detailed reports, you need to integrate the software to other tools you use or the excel spreadsheets you manage. 

2. FreshBooks

FreshBooks is another go-to tool for small businesses and freelancers. From software that offers only invoicing, the brand is now offering a wide range of services.

Pricing

$7.50-$25/month depending on your choice of plan. You can also apply for a customized solution based on your business needs. 

Pros and Cons

The best part about FreshBooks is it allows time tracking if you have employees, and this data goes straight to the invoice when payroll comes. 

If you have different departments, suppliers, clients, and projects, you can organize invoices and other details per category. Reports like profit and loss, sales tax summary, account aging, invoice details, and expenses can also be generated automatically.

However, there are still complex reports you need to use other tools to generate, and even though the application is available on mobile, some desktop functions are not available.

3. Sage

If you are looking for a brand that offers both software and consultation with experts, you need to try Sage. Aside from the software, you can also book calls and sessions with accounting coaches and experts.

Pricing

$7.50-$10/month depending on the plan

Pros and Cons

Not many software offer bank integration and automated tracking of money that comes in and out of your account—Sage, on the other hand, has this feature. You can also let your clients pay you electronically as Sage is integrated with Stripe. Other features like invoice creation, tracking of payments, expenses, receipts, and billing are available on Sage. 

If bank integration does not sound safe to you, you can always opt out of this feature. 

4. Wave

From its founding until today, Wave’s specialty is accounting for small businesses and invoicing. Wave has also branched out to offering payroll and payments management through the software. 

Pricing

Accounting and invoicing services are free. You only need to pay if you will get the payroll and payments services.

Pros and Cons

The most significant advantage of using Wave is you do not need to pay for accounting and invoice services. Despite being free, their invoice services are at par with paid software offering customized invoices, automatic sales tax calculations, payments tracking, acceptance of online payments, and integrating these invoices to the accounting software for reports generation. 

5. Zoho Books

Zoho Books is a software for you, your clients, and your suppliers as the software has a Client and Vendor Portal. You can access a wide range of services using this software. 

Pricing

Offers a 14-day free trial and paid services from $10-$30/month depending on your plan choice

Pros and Cons

Invoices, bank integration for money cashed in and out monitoring, timesheets and project organization, receipts and documents storage, and reports generation are only some of the services included when you sign-up. You can access all these data and reports whether you are on a desktop or mobile. 

Although the software offers these varied services, it is still not fit for large businesses.

Why Vancouver Bookkeeping Services And Businesses Should Use These Software

Aside from the mentioned services you can enjoy when you use the five software above, here are the other reasons why it is about time bookkeeping, Vancouver firms, and small businesses should be automated:

  • Minimize the possibility of human error from manual inputs
  • The data can be presented in different templates and formats in just a few clicks
  • Your data are backed up and stored safely
  • You can access details about your business finances even you are on the go because the software is mobile-friendly
  • If you are bookkeeping adept, you can manage these eBooks independently, cutting the cost for inhouse bookkeepers
  • You can quickly generate reports as often as you want
  • Faster and saves time

Final Thoughts

Many firms offer bookkeeping services, Vancouver, BC-based or remote, and freelance bookkeepers or those hired in-house by different companies. Wherever you classify yourself, consider using any of the five bookkeeping software above to accomplish your tasks faster. With your saved time, you can look into expanding your skills. If you are a business owner, you can focus your time thinking of ways to grow your business.

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