Are you interested in taking your accounting online, but not sure which service to use? There are some interesting alternatives out there:
WorkingPoint – This service is billed as accounting software PLUS contact management software. A huge plus for WorkingPoint is that your first user is free forever. They also have a fairly robust Contact Management feature that maintains contact details, sales history and outstanding balances. There is no convenient way to do monthly bank reconciliations, however, a feature that I’d really like to see. If you want to add a second user, the cost is only $10/month.
Clarity Accounting – This system is only $10/month, with a 20% discount for paying annually. Some cool features of this system are multi-currency support, the ability to download your bank and credit card statements directly into the program, unlimited invoicing, and the ability to have multiple users at the same base price.
Outright – This new service has a great appeal for very small businesses because it’s extremely simple to use and it’s free. Be careful, though, as the same features that make it easy to use also makes it less robust than the other options. You can record money in and money out, but there’s no reconciliation feature … how else are you going to know whether your numbers are right?!?
And, for $10/month, there’s always QuickBooks Online Basic. This version doesn’t have all the bells and whistles of the “Plus” package, but it will keep your books balanced and allow you to track all of your income and expenses easily and inexpensively.
Not sure which one to use? All three allow for a free trial period. Just be sure to not sacrifice quality for the sake of free software. The peace of mind that you get from reconciling your bank statement is worth $120 dollars a year … isn’t it??
Deb Howard Greenleaf, EA, CEO and Principal, of Greenleaf Accounting Services provides virtual accounting and bookkeeping services and specializes in financial management to consultants, coaches, solo professionals, and other small business owners across the US. Deb is an Enrolled Agent (EA)—an IRS-licensed tax professional—and specializes in small businesses and entrepreneurs filing Schedule C or as an LLC. As an Advanced Certified QuickBooks ProAdvisor, Deb spends her day in QuickBooks Online and specializes in providing QBO support.
