Tax Software for Small Businesses

Many small businesses use software to easily track expenses, income and other accounting information necessary for tax purposes. With the many types of software available, it's important to research your options thoroughly before making a selection.

Accounting Software for Small Business Tax

The following software packages are useful for any small business.

QuickBooks

One of the most well-known accounting software programs, QuickBooks has several different versions for any sized business. The online version of QuickBooks allows you to update your accounting information from anywhere that has Internet access. This version offers instant invoice creation, income and expense tracking and online data backups. After a 30-day free trial, the price for the online version of QuickBooks ranges from $9.95 to $34.95 per month.

QuickBooks Simple Start has the basic accounting functions needed by every business. This program allows you to print checks, track income and expenses, manage payroll taxes, create invoices and back up your accounting documents. This version also allows you to import data from spreadsheet programs, track inventory and have multiple users work on your bookkeeping at the same time.

QuickBooks Pro has added functionality to help business owners better track their accounting information. In addition to income and expense tracking, this program allows you to track employee mileage expenses, create invoices, accept credit and debit cards from customers, organize your business contacts, manage payroll and manage payroll taxes. This version also offers over 100 one-click business reports, inventory tracking and sales forecasting functionality.

The most costly version of QuickBooks, QuickBooks Enterprise Solutions offers the ability to control what users do in QuickBooks, use software specifically for your industry and save money. This version allows up to 30 users to work in QuickBooks at the same time and provides up-to-date snapshots of your company's accounting information.

Sage

Sage North America has several types of accounting software for small business tax and financial management. The Sage Extended Enterprise Suite has general ledger, purchase order and accounts payable capabilities. This program works with several currencies and also has the ability to perform intercompany transactions. Sage Extended Enterprise Suite works with Sage Payroll Services, SageCRM and Sage Abra.Sage Business Vision offers accounts payable, general ledger, accounts receivable and inventory management functions. This program also allows you to perform order entry and job costing activities within the same software. BusinessWorks Accounting offers some of the same functions, with the added ability to perform cash management activities.

Cashbook

Cashbook Complete Accounting software has many needed features with easy-to-use features and terminology that's easy for any business owner to understand. Features include electronic bank reconciliation, project quotes, project tracking, timesheet entry, standard reports and the ability to create customized letterhead for invoices. One of the major features of this software is the user-friendly interface.

Peachtree

Peachtree Complete offers the ability to perform accounting activities in an accurate and efficient manner. This program allows you to track inventory, invoice customers, track income and expenses, pay bills and view reports. This program also has an internal accounting review system that allows you to run up to 15 checks on your accounting information.

NetSuite Small Business

NetSuite Small Business Suite offers business owners the ability to customize their dashboards for easy use. This program features general ledger, accounts payable and accounts receivable functions and allows financial managers and business owners to work with multiple currencies. Other features of NetSuite Small Business accounting software for small business tax include purchasing, inventory management, drop shipping, order management, budgeting capabilities and advanced financial management. This program also offers standard and customized reports, integrated shipping functions and online shipping tools.