Most business owners have a lot of tasks to take care of on a daily basis in order to make sure that the daily business operations are on the right track and the company remains successful. Bookkeeping and accounting is one of the major tasks that most owners and managers consider dreadful. Online finance and accounting software is a solution that most businesses have started using to make different processes like payroll, cash flow, revenue calculation, etc. accurate and easy.

Online finance and accounting software is always easy to learn, understand and use for day-to-day business operations. Most modern software suites come with a lot of unique and advanced features that would be extremely beneficial for all businesses. As a result, you and your employees will no longer have to be concerned about or work on accounting processes in detail; instead, you can perform everything in just a few clicks.

When valuable business data are stored online, it is natural for business owners to be concerned about the level of security offered. However, most accounting software platforms prioritize security, which means that your data will remain safe and confidential at all times.

Software suits like FreshBooks and Xero also provide you with a lot of opportunities when it comes to different business processes. This article will look at what these two platforms have to offer for a business.

Overview

FreshBooks

Founded is 2003, FreshBooks is a cloud based invoicing software service catering to the needs of small businesses. Though the company initially started as an invoicing service, it has now grown and expanded its features to providing time and expense tracking, reporting, payment management, and more. Using this service’s streamlined interface, you can get rid of all the stress related to getting paid on time and maintaining your books regularly.

FreshBooks offers a wide range of packages, to meet the varying needs of businesses of different sizes and models. When it comes to using this service, you or your employees do not have to be experts in accounting in order to perform the required tasks, since the service provides all the data that will be needed to carry out your business’s accounting processes. The many dropdown menus and auto-fill features will make the processes faster. The quality of service offered by this software is definitely high when compared to other related software offered on market today.

Xero

Founded in 2006, Xero is another cloud-based software company that makes it easy for businesses to manage their accounting processes. The interface of this software is well-organized, clean, and extremely easy to navigate. The software provides a lot of help for tasks that some of your employees may not be familiar with. Various tabs such as Payroll, Accounts, Contacts, Reports, etc. enable you to access different useful drop-down menus, which in turn are organized intuitively.

In addition to its easy to use design and layout, Xero also offers a useful feature set. The company is also very responsive to new feature requests. Several features offered by the software, including bill tracking, automatic bank feeds, invoicing, etc. have proven to be absolute time savers. The customer support offered by the company is one of the best in the industry.

Benefits

FreshBooks

• Excellent navigational tools and user interface.
• Good import options.
• Good time tracking tools.

Xero

• Clean use interface.
• Excellent help and support.
• Great export options.

Head-to-Head Matchup

Conclusion

Both FreshBooks and Xero are easy to use platforms that enable even those individuals with relatively little accounting and finance knowledge to access and navigate them easily. Both these software suites are a safe and secure way to manage your business’s accounting processes. Analyze the features and integrations offered by each of the services and choose one that suits your business needs.