Why you should invest in accounting software for your small business.

Quick comparison of accounting systems for your small business.

Adriana Fierastrau

2021-08-30 1 min read

There isn't a right or wrong answer. However, there are options. If you are a small business where the volume of transactions isn't overwhelming an excel spreadsheet might just cut it. Here are some pros and cons of how you keep track of accounting ledgers.

Excel spreadsheet

**PROS: cost effective, familiar, user friendly with low volume entries
**CONS: high volume entries may get lost, sheets can become corrupt, if you are not familiar with commands and formulas reporting is difficult, have to input same figures in different sheets to balance ledgers

Quickbooks

**PROS: Reporting is easy, alerts and notifications, automatic backups, tech support included, gives great big picture reporting on collection and outstanding funds, has the ability to integrate with other software/CRM/websites
**CONS: monthly subscription can be pricey, not user-friendly at first/overwhelming at first.

Quicken

**PROS: cheaper alternative of Quickbooks, most of the same functions as Quickbooks.
**CONS: monthly subscription, not user-friendly at first.

How do you keep track of your ledgers? Do you prefer a certain program over the other?

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