As an accountant, it is not easy to manage the affairs of multiple businesses at a go. It can be extremely difficult and stressful to do. Thanks to technology, this is possible and stress-free. You don’t need to move away from where you’re situated to manage your multiple businesses. In this article, you will be reading about the best accounting software for multiple businesses. If you’re an accountant or aspiring to be one, then this should be a must-read for you.
Best Accounting Software For Multiple Businesses
Here are the best accounting software for multiple businesses you should consider implementing in your business:
Financial Cents
Financial Cents is one of the most used accounting software to manage multiple businesses. It helps you manage activities in your business which may include delegating, monitoring, and delivering accounting jobs full-time. You can also track your employee’s performance on the dashboard at any time of the day.
Another impressive fact about this software is that it has a client portal which allows your client to have access to the software too. There are also built-in templates attached to the software for quick development of projects. Financial Cents is an all-around accounting software that every business should implement.
Sage 50
Sage 50 is also one of the most downloaded accounting software for companies. Sage 50 offers features that are unique and simple to use. With Sage 50, an unlimited amount of users can join the software and get access to tools to track the performances of your businesses.
Sage 50 is also less expensive than other software. With Sage 50, you can get access to top features at a nice rate. All in all, when it comes to comprehensive reporting and inventory tracking, there are only a few account software that beat Sage 50.
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SoftLedger
SoftLedger includes among the top accounting software that accepts cryptocurrencies such as Bitcoin. With SoftLedger, the accounting statements of multiple businesses can be combined into a singular accounting statement. The only disadvantage of this SoftLedger is that it doesn’t have a mobile app. So, this means that only the PC version is available for use until the mobile app is available.
SoftLedger allows users for inventory tracking and management. The software can also be modified in a way to meet your company’s accounting requirements. These are just some of the many benefits of using the SoftLedger software to manage your business.
QuickBooks Online
QuickBooks enables business owners to be able to manage multiple businesses under one account. You can log in and track your other businesses under one QuickBooks account. With QuickBooks, you can update statistics and data on each of your businesses as it takes place.
QuickBooks stands out for its ability to integrate other financial tools into its system. You can also calculate other tax entities for your multiple businesses using the QuickBooks software. QuickBooks makes everything easy and fast for you.
Wave
Wave is a software that allows you to manage your business for free. It is one of the fewest software that allows you to do that. It has an easy-to-use dashboard which makes it possible for a novice to become an expert in just days after installation. It is also known for its easy capabilities to back up files and other important data on the software.
The drawback to Wave is that it doesn’t allow integration of third-party tools into the software. Also, in comparison to QuickBooks, it does not contain too many advanced features. It is great software for starters but not recommended for the long term.
FAQs
Does FreshBooks allow multiple businesses?
With Freshbooks, it is very possible to manage multiple businesses. However, you may need to create a different account for each of the businesses and that may require different login details for each.
How to use QuickBooks for multiple businesses?
QuickBooks can be used to manage multiple businesses. To use QuickBooks, you’ll need to create multiple accounts corresponding to each of the businesses. Go to the Login page and tap on the “Adding A Company To An Existing Account?” button. You can get started from there.
Does Xero allow multiple companies?
Yes. Xero allows multiple companies on their software. The process of creating multiple businesses is similar in order platforms.
What is the most used accounting software?
The commonly used accounting software are QuickBooks, Sage, Netsuite, and Xero.
Conclusion
Thanks to this article, you’ve read about software that allows you to manage multiple businesses at a go. You have seen the benefits and drawbacks of this software. So, go ahead select the one suitable for your business and start using it.