Choosing & Utilizing Accounting Software

Owning a business is exciting, and you might believe that you can do it all… even the accounting. While you might be right, spreading yourself too thin within your company can be a recipe for trouble.

Accounting is a very involved practice, and the best in the industry know the ins and outs of saving money, creating financial projections, providing financial support and creating effective bookkeeping strategies that will benefit your company tenfold. Hiring an accountant can also be incredibly expensive, so knowing what you want out of an accountant before hiring an expert or investing in software is important.

Choosing and using accounting software is a very unique and business-specific decision. If you want to maintain a sense of control over your bookkeeping but also understand that you won’t be able to spend the time or the effort in creating financial projections, creating and storing tax documents while staying up to date with the market, investing in software might be your best bet to stay afloat.

Business News Daily suggests business owners ask themselves three questions when making the decision on which accounting software to purchase:

• How much are you willing to pay?
• Why do you need accounting software?
• Which features does your business require in an accounting software program?

This is true of the portable restroom rental industry and will be unique to your business goals and your budget. First, decide on how much your budget will allow for a specific brand of accounting software. Next, explore the ways you wish to use accounting software within your business. Do you want to have an accounting software that is specific to filing taxes, or do you need an all-encompassing software that will do it all from sales tracking to tax write-offs? Lastly, where do you need the software to hone in? Is it your sales or initial financial projections? The answer will be specific to where your business is in its development and what you need the most assistance with.

Accounting software doesn’t have to break the bank. There are free options from software companies like Wave Accounting that offer free services (with ads) or bigger accounting software companies like Zoho Books that are ad-free, offer mobile accounting, have phone and email support and will run you about $24/month. Here are some of the top-ranked accounting software companies that you can consider for your business.

• QuickBooks Online – $9.99/month
• FreshBooks – $9.95/month
• Xero – $9/month
• Zoho Books – $24/month
• Wave Accounting – FREE with ads

Each accounting software listed is different and unique in their own way. They are also all mobile-compatible, meaning you can check on your finances anywhere you can use data or connect to Wi-Fi. In the portable restroom rental industry when you are constantly on the go, this is a great feature to have at your disposal, whether your business is small or large.

Looking to Take Your Portable Restroom Business to the NEXT LEVEL? Download our FREE Guide: “Your Guide to Operating A Portable Restroom Business.”

Thinking About GETTING INTO the Portable Restroom Industry? Download our FREE Guide: “Your Guide to Starting A Portable Restroom Business.”