5 Best Accounting and Tax Software to Grow Your Small Business In 2018

Starting a new business can be scary for a lot of entrepreneurs. An entrepreneur whether experienced or not, can always feels the jitters of uncertainty about the success of his/her business. A lot needs to be managed and the decision making needs to be powerful for a successful run of one’s business. 

Until a few years ago, there were several traditional accounting methods that could be practiced on paper or on the local computers. This obviously came with a high risk of data loss, human errors and discrepancies. 

The technology in the past decade has however, taken a drastic turn. Myriad of accounting and tax software have come up that have helped small and medium sized businesses to aim higher. Business expansion is no longer limited to the bigger firms. Now, small and medium sized firms also have a chance to think big with the 5 best accounting and tax software mentioned below: 

• QuickBooks Developed and marketed by Intuit, QuickBooks is a tax and accounting software. QuickBooks offers a range of tools and features for entrepreneurs, CPAs, Bookkeepers and accountants all at one platform. The list of services served by QuickBooks goes a long way as it allows the users to manage payroll and inventory, print checks, monitor expenses, create invoices and track jobs, etc. QuickBooks has recently ranked the best among all other tax and accounting software owing to its simplicity. 

• Sage 50 Accounting Earlier known as Peachtree Accounting, Sage 50 is published and sold by the Sage Group in the United States. This software helps it users to manage all the areas of their business in less time so they can focus more on business expansion. Sage 50 is a one stop solution to all the tax and accounting related concerns. It helps business owners to manage their taxes, make timely payments, and keep a track of the invoice and inventory, along with providing up-to-date information that may help in the success of the business. 

• Ultratax Professional Tax Software The life of a tax preparer is highly volatile. With new tax revisions happening frequently, a tax preparer needs to be well versed with all the changes. This naturally takes a lot of time. With ultratax software, built specifically to suit the needs of tax professionals, helps to make tax processes easier. Not only does it save time, it also lends value to the services and satisfaction to the clients.

• Taxwise Taxwise is another accounting and tax filing software that adds flexibility to the tax processes. The wide range of functionalities and features that Taxwise comes with makes it a favorite for the CPAs and professionals in the United States. Save time and valuable money with Taxwise to meet the needs of the clients as well as the company.

• Drake Tax Software The Tax software solution developed and produced by Drake Software aims at making tax processing easier for the CPAs and their clients. By making the tax filing procedure quick and easy, Drake Tax Software helps the Tax professionals to use their valuable time on building business relations and introducing innovation. 

Now Enjoy the Software on the Cloud 

With the development in telecommunication and technology, a shift from traditional software has been observed in the recent years. Instead of using the desktop versions of these software, users can now move to the hosted versions of the software on desktop. 

With QuickBooks Hosting, Sage Hosting, Ultratax CS Hosting, Taxwise Hosting and Drake Tax Hosting, users can enjoy all the features that are contained in the traditional versions. Apart from that, the software on the cloud also comes with the following facilities:

• Anytime, Anywhere access
• Affordability
• More secure data
• 24*7 Support Team 

Staying up-to-date does more benefit to a firm than anything. While on one hand it helps to attract more and more clients, on the other hand it also saves the firm’s time and resources which can then be channelized to other lucrative platforms.