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For Accounting & Bookkeeping, the following are essential features, and you should therefore expect to see a check in every box in this section.
Double-entry bookkeeping.
Link your bank accounts for up-to-date transaction information with little or no manual data entry.
This means the ability to accept credit card or echeck payments within your accounting software, either through its own payment portal or via a third-party integration like PayPal or Square. Most online payments involve a separate processing fee.
Keep track of miles traveled visiting clients or heading to the courthouse, making it easier to tally for taxes or billing purposes or add to your expense reports.
Pay your firm's bills without leaving your accounting software.
Helps with the complex task of balancing your business accounts. Does not necessarily include more advanced reconciliation features like three-way trust account reconciliation.
Payroll includes automatically calculating employee taxes, printing checks, and paying by direct deposit.
Some accounting software can also be used to prepare taxes for your firm so you can review, approve, and even pay your taxes all in one place.
Businesses need reports to help assess key business performance indicators like profit and accounts receivable. Some products have more robust reporting features than others.
Store contacts for invoicing or billing purposes.
Manage multiple users, including your accountant and tax preparer, or multiple billers or timekeepers at the firm.
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