{"id":40254,"date":"2023-05-15T16:07:11","date_gmt":"2023-05-15T10:37:11","guid":{"rendered":"https:\/\/www.techjockey.com\/blog\/?p=40254"},"modified":"2024-02-06T18:52:38","modified_gmt":"2024-02-06T13:22:38","slug":"bookkeeping-software","status":"publish","type":"post","link":"https:\/\/www.techjockey.com\/blog\/bookkeeping-software","title":{"rendered":"7 Best Bookkeeping Software for Small Business"},"content":{"rendered":"\n<p class=\"has-background\" style=\"background-color:#f75e3417\"><strong>Summary:<\/strong> Bookkeeping Software can help small businesses in uploading, maintaining, and tracking receipts to maintain track of all expenses. What software can you use for this purpose? Find out in the article below!<\/p>\n\n\n\n<p>Every organization needs to maintain a record of all the financial transactions on a regular basis to ensure that their book of accounts remains up to date. The recorded financial data can then be used for further interpretation and analyses by accountants.<\/p>\n\n\n\n<p>However, maintaining a record of each transaction becomes tiresome for organizations and may lead to inaccurate and double data entry, errors in tax calculations, compliance issues, data theft, etc.<\/p>\n\n\n\n<p>But, with the best bookkeeping software, you can automatically maintain the record of all the transactions hassle-free. With booking software, you can record, track, and maintain all the expenses and receipts for the current financial year in chronological order.<\/p>\n\n\n\n<p>Further, you can also use it for creating general ledgers, calculating tax, generating invoices, and so on.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/www.techjockey.com\/detail\/munimjee?utm_source=Blog&amp;utm_medium=Blog_ad_banner&amp;utm_campaign=munimjee_bookkeeping_software\"><img decoding=\"async\" width=\"943\" height=\"157\" src=\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/09\/11152951\/Munimjee-Blog-ad-banner.png\" alt=\"Munimjee Blog ad banner\" class=\"wp-image-43225\" srcset=\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/09\/11152951\/Munimjee-Blog-ad-banner.png 943w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/09\/11152951\/Munimjee-Blog-ad-banner-300x50.png 300w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/09\/11152951\/Munimjee-Blog-ad-banner-768x128.png 768w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/09\/11152951\/Munimjee-Blog-ad-banner-260x43.png 260w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/09\/11152951\/Munimjee-Blog-ad-banner-150x25.png 150w\" sizes=\"(max-width: 943px) 100vw, 943px\" \/><\/a><\/figure><\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-bookkeeping-software\"><span class=\"ez-toc-section\" id=\"what_is_bookkeeping_software\"><\/span>What is Bookkeeping Software?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Bookkeeping Software helps organizations to record several types of financial transactions including purchases, sales, receipts, and payments. With this software, a bookkeeper can summarize all the financial transactions in a systematic and chronological manner. Therefore, helping businesses by presenting all the incomes and expenditures in the book of records.<\/p>\n\n\n\n<p>The data stored and recorded in the bookkeeping software serves as an input for accountants to interpret the financial data and create different financial statements.<\/p>\n\n\n\n<p class=\"has-background\" style=\"background-color:#f75e3417\"><strong>Check our elaborated article on <a href=\"https:\/\/www.techjockey.com\/blog\/what-is-bookkeeping\">What is Bookkeeping? Types, Benefits &amp; Examples<\/a> to know in detail.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"list_of_7_best_bookkeeping_software_for_small_business\"><\/span>List of 7 Best Bookkeeping Software for Small Business<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul>\n<li><a title=\"FreshBooks\" href=\"#freshbooks\">FreshBooks<\/a><\/li>\n\n\n\n<li><a title=\"Melio\" href=\"#melio\">Melio<\/a><\/li>\n\n\n\n<li><a title=\"Pabbly\" href=\"#pabbly\">Pabbly<\/a><\/li>\n\n\n\n<li><a title=\"MYOB\" href=\"#myob\">MYOB<\/a><\/li>\n\n\n\n<li><a title=\"OneUp\" href=\"#oneup\">OneUp<\/a><\/li>\n\n\n\n<li><a title=\"OnPay\" href=\"#onpay\">OnPay<\/a><\/li>\n\n\n\n<li><a title=\"Tiplati\" href=\"#tiplati\">Tiplati<\/a><\/li>\n<\/ul>\n\n\n\n<p>Bookkeeping software can help small businesses with multiple tasks such as recording financial transactions, creating general ledgers, processing invoices, and so on. Here are some of the best online bookkeeping software you can consider for this purpose.<\/p>\n\n\n\n<ol>\n<li><h3 id=\"freshbooks\"><span class=\"ez-toc-section\" id=\"freshbooks\"><\/span>FreshBooks<span class=\"ez-toc-section-end\"><\/span><\/h3><\/li>\n<\/ol>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"700\" height=\"470\" src=\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155027\/FreshBooks-bookkeeping-software.jpg\" alt=\"FreshBooks bookkeeping software\" class=\"wp-image-40259\" srcset=\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155027\/FreshBooks-bookkeeping-software.jpg 700w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155027\/FreshBooks-bookkeeping-software-300x201.jpg 300w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155027\/FreshBooks-bookkeeping-software-260x175.jpg 260w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/figure><\/div>\n\n\n<p><a href=\"https:\/\/www.techjockey.com\/detail\/freshbooks-accounting-software\">FreshBooks<\/a> is an accounting and bookkeeping software to <a href=\"https:\/\/www.techjockey.com\/blog\/how-to-maintain-cash-book-and-ledger\">maintain and track the record of all payments and expenses<\/a>. It is a good software for tracking expenses, generating invoices, sending estimates, tracking and organizing client&#8217;s data, etc.<\/p>\n\n\n\n<p>If you need features for creating general ledger, and generating profit and loss statement and expense report, then FreshBooks is the right choice.<\/p>\n\n\n\n<p><strong>Features of FreshBooks<\/strong><\/p>\n\n\n\n<ul>\n<li>Supports invoice customization<\/li>\n\n\n\n<li>Generates multi-currency bills and invoices<\/li>\n\n\n\n<li>Automatically calculates tax<\/li>\n\n\n\n<li><a href=\"https:\/\/www.techjockey.com\/blog\/10-best-free-time-tracking-software\">Tracks time for different projects<\/a><\/li>\n\n\n\n<li>Automatically converts estimates into bills<\/li>\n\n\n\n<li><a href=\"https:\/\/www.techjockey.com\/blog\/how-to-perform-bank-reconciliation-in-tally\">Reconciles bank statements automatically<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>FreshBooks\u2019s Pricing:<\/strong> No free plan available | Paid plan starts from INR 697.47\/month<\/p>\n\n\n\n<p><strong>Free Trial of FreshBooks:<\/strong> 30 days available<\/p>\n\n\n\n<ol start=\"2\">\n<li><h3 id=\"melio\"><span class=\"ez-toc-section\" id=\"melio\"><\/span>Melio<span class=\"ez-toc-section-end\"><\/span><\/h3><\/li>\n<\/ol>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"700\" height=\"470\" src=\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155031\/Melio.jpg\" alt=\"Melio\" class=\"wp-image-40260\" srcset=\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155031\/Melio.jpg 700w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155031\/Melio-300x201.jpg 300w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155031\/Melio-260x175.jpg 260w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/figure><\/div>\n\n\n<p><a href=\"https:\/\/www.techjockey.com\/detail\/meliopayments\">Melio account payable solution<\/a> helps firms to receive and make payments to different vendors via ACH, check, and credit card. With it, you can manage your clients\u2019 payments and set up the payment workflow with manageable permissions.<\/p>\n\n\n\n<p>You can use this tool for scheduling payments, splitting bills, assigning clients to team members, combining vendor\u2019s invoices, making international payments, etc.<\/p>\n\n\n\n<p><strong>Melio Features<\/strong><\/p>\n\n\n\n<ul>\n<li>Bills and invoices management<\/li>\n\n\n\n<li>Customizes payment requests for customers<\/li>\n\n\n\n<li>Supports ACH bank transfers<\/li>\n\n\n\n<li>Processes vendor\u2019s payment in bulk<\/li>\n\n\n\n<li>Supports recurring payments to vendors<\/li>\n\n\n\n<li>Integrates with <a href=\"https:\/\/www.techjockey.com\/detail\/quickbooks-accounting-software\">QuickBooks Online<\/a>, <a href=\"https:\/\/www.techjockey.com\/detail\/xero-accounting-software\">Xero<\/a>, FreshBooks, etc. to manage payment workflow<\/li>\n<\/ul>\n\n\n\n<p><strong>Pricing of Melio:<\/strong> Free to use | You only need to pay for certain services like sending payment by card<\/p>\n\n\n\n<p><strong>Free Trial of Melio:<\/strong> It is a free accounts payable software<\/p>\n\n\n\n<ol start=\"3\">\n<li><h3 id=\"pabbly\"><span class=\"ez-toc-section\" id=\"pabbly\"><\/span>Pabbly<span class=\"ez-toc-section-end\"><\/span><\/h3><\/li>\n<\/ol>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"700\" height=\"470\" src=\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155044\/Pabbly-free-bookkeeping-software-for-small-business.jpg\" alt=\"Pabbly free bookkeeping software for small business\" class=\"wp-image-40264\" srcset=\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155044\/Pabbly-free-bookkeeping-software-for-small-business.jpg 700w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155044\/Pabbly-free-bookkeeping-software-for-small-business-300x201.jpg 300w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155044\/Pabbly-free-bookkeeping-software-for-small-business-260x175.jpg 260w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/figure><\/div>\n\n\n<p><a href=\"https:\/\/www.techjockey.com\/detail\/pabbly-plus\">Pabbly subscription management software<\/a> provides users with real-time insights on monthly payments, net revenue, active customers, new subscriptions, etc. This software can be used for automating the business workflow, customer communication, and invoice generation.<\/p>\n\n\n\n<p>Further, it offers in-built <a href=\"https:\/\/www.techjockey.com\/category\/affiliate-marketing-software\">affiliate marketing management<\/a> modules to easily track the affiliate sales on different websites.<\/p>\n\n\n\n<p><strong>Features of Pabbly<\/strong><\/p>\n\n\n\n<ul>\n<li>Automates recurring billing procedures<\/li>\n\n\n\n<li>Dunning management for collecting outstanding dues<\/li>\n\n\n\n<li>Customizes the checkout pages for customers<\/li>\n\n\n\n<li>Enables you to offer one-time and <a href=\"https:\/\/www.techjockey.com\/blog\/best-payment-gateways\">multiple payment options<\/a> to your customers<\/li>\n\n\n\n<li>Automatically checks VAT numbers by sending the validation request to the VAT system<\/li>\n<\/ul>\n\n\n\n<p><strong>Pabbly\u2019s Pricing:<\/strong> It offers a single pricing plan starting from INR 3,198.39\/month, which is billed annually.<\/p>\n\n\n\n<p><strong>Free Trial of Pabbly:<\/strong> Not available<\/p>\n\n\n\n<p class=\"has-background\" style=\"background-color:#f75e3417\"><strong>Suggested Read: <a href=\"https:\/\/www.techjockey.com\/blog\/best-mobile-bookkeeping-apps\">Best Mobile Bookkeeping Apps for Android &amp; iPhone<\/a><\/strong><\/p>\n\n\n\n<ol start=\"4\">\n<li><h3 id=\"myob\"><span class=\"ez-toc-section\" id=\"myob\"><\/span>MYOB<span class=\"ez-toc-section-end\"><\/span><\/h3><\/li>\n<\/ol>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"700\" height=\"470\" src=\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155034\/MYOB-best-bookkeeping-software.jpg\" alt=\"MYOB best bookkeeping software\" class=\"wp-image-40261\" srcset=\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155034\/MYOB-best-bookkeeping-software.jpg 700w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155034\/MYOB-best-bookkeeping-software-300x201.jpg 300w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155034\/MYOB-best-bookkeeping-software-260x175.jpg 260w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/figure><\/div>\n\n\n<p>MYOB is an <a href=\"https:\/\/www.techjockey.com\/blog\/offline-vs-online-accounting-software\">online accounting software<\/a> to help businesses streamline and automate key accounting and booking tasks. It can be used for creating BAS statements with pre-fill GST info, generating different GST compliant reports, sending STP compliance reports to ATO, etc.<\/p>\n\n\n\n<p>Some other common features of MYOB include inventory and <a href=\"https:\/\/www.techjockey.com\/detail\/numberz-accounts-receivable-accounting-software\">cash flow management<\/a>, multi-currency payments acceptance, <a href=\"https:\/\/www.techjockey.com\/category\/messaging-collaboration-software\">real-time collaboration<\/a>, and so on.<\/p>\n\n\n\n<p><strong>Features of MYOB<\/strong><\/p>\n\n\n\n<ul>\n<li>Automatically reconciles bank statements<\/li>\n\n\n\n<li>Creates and sends invoices<\/li>\n\n\n\n<li>Tracks and manages expenses<\/li>\n\n\n\n<li>Automatically calculates GST and other taxes<\/li>\n\n\n\n<li>Manages employees&#8217; timesheets for accurate payroll processing<\/li>\n\n\n\n<li>Tracks profit and loss of different projects<\/li>\n<\/ul>\n\n\n\n<p><strong>Pricing of MYOB:<\/strong> No free plan available | Paid plan starts from INR 1,230.34\/month<\/p>\n\n\n\n<p><strong>MYOB\u2019s Free Trial:<\/strong> 30 days available<\/p>\n\n\n\n<ol start=\"5\">\n<li><h3 id=\"oneup\"><span class=\"ez-toc-section\" id=\"oneup\"><\/span>OneUp<span class=\"ez-toc-section-end\"><\/span><\/h3><\/li>\n<\/ol>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"700\" height=\"470\" src=\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155037\/OneUp.jpg\" alt=\"OneUp\" class=\"wp-image-40262\" srcset=\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155037\/OneUp.jpg 700w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155037\/OneUp-300x201.jpg 300w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155037\/OneUp-260x175.jpg 260w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/figure><\/div>\n\n\n<p>OneUp helps you in managing everyday tasks related to accounting, bookkeeping, customer relationship management, and inventory.<\/p>\n\n\n\n<p>You can use this bookkeeping software for sending invoices, viewing outstanding invoice payments, adding payment details in <a class=\"wpil_keyword_link\" href=\"https:\/\/www.techjockey.com\/category\/accounting-software\" title=\"accounting software\" data-wpil-keyword-link=\"linked\">accounting software<\/a>, and reconciling bank statements.<\/p>\n\n\n\n<p>It also helps in sending quotes to customers, viewing sales opportunities, and entering inventory details in accounting books.<\/p>\n\n\n\n<p><strong>Features of OneUp<\/strong><\/p>\n\n\n\n<ul>\n<li>Generates invoices directly from quotes<\/li>\n\n\n\n<li>Offers customizable templates to match your business<\/li>\n\n\n\n<li>Retrieves banking transactions by adding banking credentials<\/li>\n\n\n\n<li>Maintains automatic bookkeeping for accurate data entry<\/li>\n\n\n\n<li>Automatically tracks and manages inventory levels<\/li>\n\n\n\n<li>Categorizes all bank entries<\/li>\n\n\n\n<li>Generates picking lists for product delivery directly via sales orders<\/li>\n<\/ul>\n\n\n\n<p><strong>OneUp Pricing:<\/strong> No free plan available | Paid plan starts from INR 738.35 \/month<\/p>\n\n\n\n<p><strong>Free Trial of OneUp:<\/strong> 30 days available<\/p>\n\n\n\n<ol start=\"6\">\n<li><h3 id=\"onpay\"><span class=\"ez-toc-section\" id=\"onpay\"><\/span>OnPay<span class=\"ez-toc-section-end\"><\/span><\/h3><\/li>\n<\/ol>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"700\" height=\"470\" src=\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155041\/onpay.jpg\" alt=\"onpay\" class=\"wp-image-40263\" srcset=\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155041\/onpay.jpg 700w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155041\/onpay-300x201.jpg 300w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155041\/onpay-260x175.jpg 260w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/figure><\/div>\n\n\n<p><a href=\"https:\/\/www.techjockey.com\/detail\/onpay\">OnPay payroll services<\/a> help in managing payroll operations of growing businesses. It can be used for PTO management, payroll processing with latest COVID regulations, <a href=\"https:\/\/www.techjockey.com\/blog\/create-digital-signature-electronically\">generating e-signature documents<\/a>, accepting, and approving leave requests, running unlimited pay runs, etc.<\/p>\n\n\n\n<p>This solution can also be used for creating organization charts, generating 401(k) retirement plans for employees, and offering pay-as-you-go compensation plans.<\/p>\n\n\n\n<p><strong>Features of OnPay<\/strong><\/p>\n\n\n\n<ul>\n<li>Multiple options for making payments<\/li>\n\n\n\n<li>Offers different pay rates for employees<\/li>\n\n\n\n<li>Manages garnishment orders<\/li>\n\n\n\n<li>Generates and exports several payroll reports<\/li>\n\n\n\n<li>Automates employees&#8217; onboarding workflows<\/li>\n\n\n\n<li>Runs payroll compliance audits<\/li>\n<\/ul>\n\n\n\n<p><strong>OnPay\u2019s Pricing:<\/strong> OnPay pricing starts from INR 3,281.60 base fee and INR 492.24\/month\/person<\/p>\n\n\n\n<p><strong>OnPay\u2019s Free Trial:<\/strong> 30 days available<\/p>\n\n\n\n<ol start=\"7\">\n<li><h3 id=\"tiplati\"><span class=\"ez-toc-section\" id=\"tiplati\"><\/span>Tiplati<span class=\"ez-toc-section-end\"><\/span><\/h3><\/li>\n<\/ol>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"700\" height=\"470\" src=\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155048\/Tipalti.jpg\" alt=\"Tipalti\" class=\"wp-image-40265\" srcset=\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155048\/Tipalti.jpg 700w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155048\/Tipalti-300x201.jpg 300w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155048\/Tipalti-260x175.jpg 260w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/figure><\/div>\n\n\n<p><a href=\"https:\/\/www.techjockey.com\/detail\/tipalti\">Tipalti accounts payable automation software<\/a> is for automating repetitive payable operations and maximizing business profits. It can be used for managing cashflow, viewing spend insights performance, processing invoices, managing supplier\u2019s documents, reconciling payments, managing purchase orders, etc.<\/p>\n\n\n\n<p>With its built-in compliance, you can also reduce payables tax, regulatory issues fraud, audit risk, and so on. Moreover, it offers a payment cost calculator to understand the organization&#8217;s productivity in invoice processing and payment collection.<\/p>\n\n\n\n<p><strong>Tipalti\u2019s Features<\/strong><\/p>\n\n\n\n<ul>\n<li>Multi-language vendor\u2019s portal for supplier\u2019s management<\/li>\n\n\n\n<li><a href=\"https:\/\/www.techjockey.com\/blog\/best-ocr-app-to-convert-text-from-image\">Advanced Optical Character Recognition<\/a> for capturing and processing invoices<\/li>\n\n\n\n<li>Supports 120 international currencies for receiving and accepting payments<\/li>\n\n\n\n<li>Ensures IRS tax compliance for users<\/li>\n\n\n\n<li>2 and 3-way purchase order matching for data accuracy<\/li>\n\n\n\n<li>Reconciles all the reports with the ERP system for faster financial year closure.<\/li>\n<\/ul>\n\n\n\n<p><strong>Pricing of Tipalti:<\/strong> Tipalti pricing starts from INR 12,220.31\/month for a single platform and changes as the business grows.<\/p>\n\n\n\n<p><strong>Free Trial of Tipalti:<\/strong> Not available<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"difference_between_bookkeeping_vs_accounting\"><\/span>Difference Between Bookkeeping vs Accounting<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"700\" height=\"470\" src=\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155024\/bookkeeping-vs-accounting-difference.jpg\" alt=\"bookkeeping vs accounting difference\" class=\"wp-image-40258\" srcset=\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155024\/bookkeeping-vs-accounting-difference.jpg 700w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155024\/bookkeeping-vs-accounting-difference-300x201.jpg 300w, https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2023\/05\/15155024\/bookkeeping-vs-accounting-difference-260x175.jpg 260w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/figure><\/div>\n\n\n<p>Bookkeeping and accounting are different from each other in several aspects. Bookkeeping does not involve data analysis whereas it includes accounting.<\/p>\n\n\n\n<p>Similarly, accounting involves financial statements which are not a part of bookkeeping. Here are some other differences you will find between bookkeeping and accounting:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-regular\"><table><tbody><tr><td><strong>Metrics<\/strong><\/td><td><strong>Bookkeeping<\/strong><\/td><td><strong>Accounting<\/strong><\/td><\/tr><tr><td><strong>Definition<\/strong><\/td><td>Bookkeeping is about recording and maintaining financial transactions for a given financial year.<\/td><td>Accounting is about preparing and analyzing various financial statements from the bookkeeping data.<\/td><\/tr><tr><td><strong>Financial Statement Preparation<\/strong><\/td><td>Under bookkeeping, financial statements are not prepared.<\/td><td>Under accounting, various financial statements are prepared like balance sheet and profit and loss\n                    account.<\/td><\/tr><tr><td><strong>Financial Position<\/strong><\/td><td>Bookkeeping does not represent the financial position of an organization.<\/td><td>Accounting represents the financial position of an organization.<\/td><\/tr><tr><td><strong>Person Involved<\/strong><\/td><td>The person who records the transactions is called the bookkeeper.<\/td><td>The person who prepares and analyzes statements is called an accountant.<\/td><\/tr><tr><td><strong>Objective<\/strong><\/td><td>The purpose of bookkeeping is to sum up all the financial transactions of a firm for a specific period.<\/td><td>The purpose of accounting is to interpret financial information for decision making.<\/td><\/tr><tr><td><strong>Expertise<\/strong><\/td><td>Bookkeeping does not require any specific knowledge because it generally involves data entry.  <\/td><td>Accounting does require specific knowledge of accounting procedures and policies.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Conclusion<\/strong><\/p>\n\n\n\n<p>Bookkeeping software is an asset for organizations as it can help them keep their book of records updated by automatically recording different financial transactions. Accountants get easy access to all the financial data at one place to prepare financial statements.<\/p>\n\n\n\n<p><strong>FAQs<\/strong><\/p>\n\n\n<div class=\"saswp-faq-block-section\"><ol style=\"list-style-type:none\"><li style=\"list-style-type: none\"><h4>Which bookkeeping software is best?<\/h4><p class=\"saswp-faq-answer-text\">There are several types of bookkeeping software that you can use for recording financial transactions. Some of the best options include Zoho Books, FreshBooks, OneUp, MYOP, etc.<\/p><li style=\"list-style-type: none\"><h4>How is software used in bookkeeping activities?<\/h4><p class=\"saswp-faq-answer-text\">Software can help a lot with automatically recording your organization\u2019s expenses and receipts, categorizing them, and adding their data to the accounting software. Further, it can also be used for processing and sending invoices.<\/p><li style=\"list-style-type: none\"><h4>How to use bookkeeping software?<\/h4><p class=\"saswp-faq-answer-text\">To use bookkeeping software, you need to login with your mail ID or number. Once done, you can add your organization details to start using the software. After that, a new account will be created that you can use for recording and maintaining the data of financial transactions.<\/p><li style=\"list-style-type: none\"><h4>What is a bookkeeping software system?<\/h4><p class=\"saswp-faq-answer-text\">Bookkeeping software helps in simplifying and automating data entry, presenting important financial information, and generating different financial reports for analyses. Altogether, it records and presents information to make it easier for accountants to analyze financial health.<\/p><li style=\"list-style-type: none\"><h4>What is the easiest bookkeeping software to use?<\/h4><p class=\"saswp-faq-answer-text\">Bookkeeping software would enable users to use all the features in a hassle-free manner even with the minimal accounting and bookkeeping knowledge. You can consider FreshBooks, Zoho Books, Melio, etc., for hassle-free bookkeeping and accounting.<\/p><li style=\"list-style-type: none\"><h4>What is the easiest bookkeeping software for small business?<\/h4><p class=\"saswp-faq-answer-text\">If you run a small business, then there are many bookkeeping software solutions to manage everyday bookkeeping operations under budget. Some of the best options you can consider for this purpose include Wave, FreshBooks, Xero, Melio, etc.<\/p><li style=\"list-style-type: none\"><h4>What is the best home bookkeeping software?<\/h4><p class=\"saswp-faq-answer-text\">You can choose from multiple software programs to track and manage your personal receipts and expenses. Some of the best bookkeeping software are Xero, AccountEdge, QuickBooks Online, Lendio, MYOB, etc.<\/p><li style=\"list-style-type: none\"><h4>Is bookkeeping the same as accounting?<\/h4><p class=\"saswp-faq-answer-text\">No, bookkeeping is not the same as accounting in several aspects. For example, bookkeeping involves the recording and tracking of financial transactions. Whereas accounting involves the interpretation, classification, and analysis of the accounting and financial data of a company.<\/p><li style=\"list-style-type: none\"><h4>What is the simplest bookkeeping software?<\/h4><p class=\"saswp-faq-answer-text\">You can choose from multiple bookkeeping software solutions that are quite easy to use for your bookkeeping requirements. A few popular options are Tipalti, Zoho Books, Melio, OneUp, and FreshBooks for this purpose.<\/p><li style=\"list-style-type: none\"><h4>What is the best free bookkeeping software?<\/h4><p class=\"saswp-faq-answer-text\">There are several free software solutions available for bookkeeping, recording expenses and receipts, adding debit and credit transactions in Journal, etc. Some of the top choices include Wave, ZipBooks, GnuCash, CloudBooks, Sunrise, etc.<\/p><\/ul><\/div>","protected":false},"excerpt":{"rendered":"<p>Summary: Bookkeeping Software can help small businesses in uploading, maintaining, and tracking receipts to maintain track of all expenses. What software can you use for this purpose? Find out in the article below! Every organization needs to maintain a record of all the financial transactions on a regular basis to ensure that their book of [&hellip;]<\/p>\n","protected":false},"author":168,"featured_media":40257,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[287],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v22.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>7 Best Bookkeeping Software for Small Business<\/title>\n<meta name=\"description\" content=\"Bookkeeping Software helps organizations to record several types of financial transactions including purchases, sales, receipts, &amp; payments.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.techjockey.com\/blog\/wp-json\/wp\/v2\/posts\/40254\" \/>\n<meta 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