#29 Is QuickBooks Online better than Wave?
What we’re talking about
- It’s Almost Automated – Two Cloud Based Accounting Software Systems
- Integrations With Your Selling Platform
- Thinking Long Term – Which Will Serve You Best
It’s Almost Automated – Two Cloud Based Accounting Software SystemsMost people aren’t thinking of what accounting software they want to use when they start their business. It’s something that happens over time, out of necessity, unless you’re a numbers geek like me, and enjoy that kind of thing. So, it may come as a pleasant surprise to find out that QuickBooks Online (not to be confused with any of the other QuickBooks products) and Wave are both able to automatically download your bank transactions, sales, refunds, etc. and load it into your accounting system. Both are cloud based, and you can access the information in your system from their website, as well as their app.
Integrations With Your Selling PlatformThe last thing you want when you’ve got a booming business is to worry about the tedious task of entering each sale, breaking out the sales tax, and fees from collecting the money from the invoice. While Wave, a free accounting software system has some integrations that work with various selling platforms such as Etsy, Square, etc. But QuickBooks Online, although it’s a paid accounting software system, has many more platforms it integrates with. This is something you’ll want to check into before making the final decision of which system to ultimately go with.
Thinking Long Term – Which Will Serve You BestFree always sounds good, but when deciding on which software system to choose, the thing you want to keep in mind is what your long term goals are. Will you have multiple locations? Do you need your expense categories subdivided? How detailed do your reports need to be? Which system works with the platform that brings in the most money for you? Is the free software worth the amount of time it will take you to manually do some of the functions the paid one does automatically? Don’t forget that the cost of the system can be expensed out!
#31 How do you deal with collecting money from clients? As a business owner, one thing we all have to do is collect money from clients for our products and services. Today we are discussing the best ways to collect money from clients, otherwise known as accounts...
#30 How do you prepare for unexpected business costs? As a business owner you’re bound to have unexpected expenses come up at some point? It’s not if, it’s when. These expenses could be big or small and being prepared to take any kind of financial hit is something...