Keep things simple
Julie asks Dave for advice on choosing an accounting program for small business. Dave gives her his choice, and adds that's it's always best to keep things like this simple.
QUESTION: Julie is looking for a good accounting package for small business. Dave advises her to keep it simple, and gives her a suggestion for a good program.
ANSWER: The best one I’ve seen — and we’re actually endorsing it on some of our podcast ads and a few other places — is called FreshBooks. It’s a cloud-based program for small businesses, and it’s a fairly simple accounting system.
You don’t want anything super complicated for small-business accounting. You just need something where you can write out the invoices, and keep up with your expenses and categorize them. It’s important that you know what’s going on in your business — to be able to continually analyze what’s happening — and have the ability to look in your rearview mirror and see if anything’s coming up behind you.