best quickbooks for small business owner

“I tried to do my books myself, but I found myself dreading it and putting it off,” Kline said.Įventually, Kline invested in hiring a bookkeeper and accountant. He finds the prospect of doing his business’s accounting himself daunting. Jon Kline is the owner of MKE Production Rental, a small A/V equipment rental business.

Bookkeepers also assist with issuing invoices and payroll, among other tasks.Īmong small businesses that have an accountant, nearly one-quarter (22%) employ a full- or part-time outsourced accountant. “It doesn’t matter how small a company is – if you already have two employees, hire a bookkeeper,” Medina said.īookkeepers are valuable in their ability to meticulously keep track of income and expenses, minimizing errors. She believes that most small businesses should have at least a bookkeeper. Wanda Medina is a managing partner at Maventri, a full-service digital firm providing accounting, marketing, and administrative support services. Many small businesses believe they lack the budget necessary to employ accounting staff, even though they can benefit from an accountant’s expertise. What is the difference between an accountant and a bookkeeper? Nearly half of small businesses (45%) do not employ an accountant or a bookkeeper. Many small businesses employ minimal accounting staff, potentially causing their financial records to suffer. Many Small Businesses Do Not Employ an Accounting Professional.

The Value of an Accounting Professional.

Many Small Businesses Do Not Employ an Accounting Professional.

Small Businesses Are Sometimes Stingy About Hiring Accounting Staff QuickBooks is the most popular accounting software three-quarters of small businesses (74%) use it.Over half of small businesses (53%) use an accounting software solution, such as QuickBooks or Microsoft Dynamics GP.One-quarter of small businesses (25%) still record their finances on paper, instead of on a computer.For nearly three-quarters of small businesses (72%), one person handles both HR and accounting responsibilities, though this is more common among small businesses with 10 or fewer employees.Among companies that employ accounting staff, the largest percentage (22%) employ a full- or part-time outsourced accountant.Almost half of all small businesses (45%) employ neither an accountant nor a bookkeeper.

Best quickbooks for small business owner