Small Business Accounting: QuickBooks, Zoho Books, and Wave - Essay Sample

Introduction

Accounting software is a relevant small business tool that facilitates financial management. QuickBooks, Zoho Books, and Wave are accounting software suitable for micro-businesses. QuickBooks Online is accessible and low-cost software. The software provides three alternatives; simple start, plus, and essentials. The simple start covers the business' basic needs and has a monthly charge of $15. Essential, the following option, has extra features like profit reporting. Its monthly cost is estimated at $30 while plus requires a $40 monthly subscription (Adams, 2016). The system provides access to an online technical support team that guides users.

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Zoho Books is accessible in three categories; basic, standard, and professional, which have monthly charges of $9, $19, and $29, respectively. While the first option only serves two users, standard, and professional serve three and ten users. Extra costs are incurred for additional users. The application supports devices with an android or IOS native (Nasir & Talib, 2018). Training is available to live online or through documentation and webinars. Users are entitled to online technical support or direct contact during business hours. Wave is a free payroll management software that provides several accounting features. It offers an online payment segment that incorporates a transaction fee of $2. Support is available through directories, online ticketing scheme, and a knowledge forum.

QuickBooks Online is suitable for windows seven or advanced computers. The minimum hardware requirements include an intel core i3 processor with 2GB RAM and 16GB available drive space (Cong, 2010). A high-speed internet connection is recommended. The minimum preferable connection is 1.5 Mbps. The mobile application supports an android operating system of 4.1 and iPhone 9.3 minimum O.S. The minimum memory requirement for Zoho Books is 2GB, although 4GB RAM on intel i3 processor is recommended. It operates effectively on computers that run Windows 7, 8, or XP. It requires 15GB free disk space. Firefox and Google Chrome v40 are the supported browsers. The minimum hardware requirements for wave include 2GB RAM, intel twin-core processor, and a built-in graphic card (Cong, 2010). Wave client and server supported O.S. include windows 7, 8, 8.1, 10, and Windows ten enterprise.

Wave prohibits the addition of multiple users. Zoho enables the integration of an individual CRM profile with numerous accounts. Its installation and application by various contacts simultaneously is an added feature. Additionally, QuickBook Online allows the integration of up to ten simultaneous users. The annual QuickBook Online license for 1-5 users on the Intuit's website costs $299 (Cong, 2010). The subscription is renewable upon expiry. Zoho offers flexible grants with a monthly fee of $75 for 1-3 users and $90 for 1-5 users. Accounting software systems are, therefore, a useful addition to small businesses.

References

Adams, G. (2016). QuickBooks: The Quick and Easy QuickBooks Guide for Your Small Business Accounting and Bookkeeping. Create Space Publishing Platform.

Cong, Y. (2010). Cloud computing, accounting, auditing, and beyond. The CPA Journal, 80(10), 66.

Nasir, M. H., & Talib, Y. A. (2018). Developing Mobile Accounting Software for Micro-Entrepreneurs. Journal of Telecommunication, Electronic and Computer Engineering (JTEC), 10(2-4), 179-185.