An accounting information system (AIS) is generally a computer-based method for tracking accounting activity in conjunction with information technology resources. This includes monitoring and managing the purchase, sales, and other financial processes of the business. The purpose of an AIS is to accumulate data and provide decision makers (investors, creditors, and managers) with information.
Electronic financial accounting, from its very outset, has quickly superseded the paper-based bookkeeping process in most of the forward-looking companies. Such a success has triggered the development of numerous different accounting apps. In this article we have decided to look at a few worthy options, highlighting their specific features and peculiarities.
Freshbooks is an accounting app with a truly fresh approach to managing financial records. The tool was created with the non-accountants in mind. It uses understandable words and phrases and introduces an extremely friendly and attractive user interface. Moreover, the app has managed to develop into a modern comprehensive accounting solution, incorporating such features as expense- and time-tracking, numerous financial reports, and an impressive set of integrated add-ons, at the same time retaining its simplicity and ease of use.
As for peculiar features worth mentioning, Freshbooks offers a second user level for staff, limited only to specific areas of the service. It also provides some basic inventory tracking functionality, which sets the app apart from the pool of other accounting solutions.
Even though Freshbooks cannot suffice as a full-blown double-entry accounting solution, it is a perfect fit for small business.
Wave is another cloud-based accounting software for small business. What makes it especially appealing for entrepreneurs, freelancers and consultants is that the app is free of charge, yet packed with time-saving features that help manage business's finances. Moreover, unlike other free services that limit usage, Wave offers unlimited customers, invoices, expenses and reports.
The core functionality of the tool incorporates the ability to track expenses, create financial reports, send invoices, link bank accounts, etc. A pleasant bonus is the option to automate billing and invoicing, as well as set up reminders to help keep track of paid and unpaid items.
Those businesses and individuals, looking to manage their finances without money investments should consider Wave as their accounting solution.
Unlike the two previous tools, Kashoo allows businesses to stay compliant with double-entry bookkeeping rules. In addition to covering the basics, such as chart of accounts, record templates for customers, vendors or items, transaction forms for invoices, and pre-formatted reports, Kashoo allows to connect to your financial institutions. By doing so, you can download transactions and reconcile accounts.
An ability to track costs by project and assign tax rates to particular transactions truly presents Kashoo as a comprehensive accounting solution.
What’s no less important, is Kashoo’s clean interface and simple navigation tools that make it easy to get a hang of all accounting activities the tool offers.
Overall, Kashoo does a good job in providing all features necessary to manage the company's income and expenses.
Launched in April 2012, Debitoor is a relative newcomer on the market of accounting software. The solution positions itself as a tool for micro businesses and freelancers.
Just like all of the aforementioned systems, Debitoor is a cloud-based software compatible with any OS. The tool uses responsive design, so you can take advantage of the browser-based version on a tablet or phone. There is also a dedicated iPhone app.
As for the pricing, Debitoor has a free version with limited functionality, which serves as a basic invoicing solution. To access the accounting features, such as document handling, banking and assets, reports and balance sheet, etc.
Another impressive thing about Debitoor is its high level of customer service even on the free plan, and a comprehensive knowledge base. All in all, this solution is perfect for non-accountants who are looking for a well put together, easy to use solution with an appealing interface and basic set of features.
ZipBooks is a brand new solution, founded in 2015. Even though it still needs to develop and add a few more features, the tool shows a lot of promise. It allows contractors and small businesses track the time, products, and expenses of their work seamlessly. Moreover, it automatically detects unbilled activity and allows to include the desired billing details.
A pleasant detail is that ZipBooks allows to add the business’s own logo to invoices. To top it all off, ZipBooks is completely free of charge, which together with its ease of use makes the tool accessible to all kinds of users.
Even though each of the described solutions has a lot to offer, there is no limit to perfection. One of the ways to improve basically any accounting app would be to expand its feature set with the option of CRM integration. Besides, Data2CRM.API provides an easy way to accomplish the task. Using this service accounting systems developers can integrate with 12+ CRM platforms simultaneously. Schedule a consultation with our expert to learn more about how you can enhance your soft by the means of API integration.Schedule a Consultation
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