Sole Proprietor Accounting Software
Exclusively built for managing books of sole proprietorship firms
Here is the best sole proprietor accounting software for managing books of sole proprietorship firms. You can create invoices, track and collect payments, record expenses and purchases, submit tax returns and generate business intelligence reports.
Sole proprietorship firms as the name suggests are owned by a single business owner. Most of these businesses are small and 90% of them are run by less than 4 people teams.
Given that the business runs on limited capital and human resources, it is important for the sole proprietor to invest in back office software to reduce the work burden and increase efficiency. A sole proprietor accounting software exactly does that. It organizes the business and keeps the financial data centralized. The data can be accessed over internet which enables easy collaboration with team and removes the geographical constraint.
Please note, there are quite a few software products in this space and all of them seem to be the same. But please be very careful in choosing the software. While choosing a sole proprietor accounting software, please take into consideration the following parameters:
1. Feature-set: Don’t go for software with exhaustive list of features. You may end up buying ERP software. Your focus should be to buy software with only the features you need. Don’t complicate things by going for software with hundreds of features. Pick and choose the feature you need and find the best that fits your feature requirement.
2. Pricing: A sole proprietor accounting software should be affordable for the sole proprietor. If it is costly, chances are you are looking at a ERP product and not an accounting software for small business owners or sole proprietors.
3. Cloud based or downloadable: Please be very clear on this. We suggest cloud based software will serve well. Given the advantage of online access, a cloud based accounting software gives you the much needed flexibility of access vs. the downloaded software product which restricts you to the local system and constraints your access.
Based on our analysis, the best sole proprietor accounting software is TopNotepad. It is extremely simple to use, has all the features needed to run a sole proprietorship business and is very affordable.
Sole proprietorship firms as the name suggests are owned by a single business owner. Most of these businesses are small and 90% of them are run by less than 4 people teams.
Given that the business runs on limited capital and human resources, it is important for the sole proprietor to invest in back office software to reduce the work burden and increase efficiency. A sole proprietor accounting software exactly does that. It organizes the business and keeps the financial data centralized. The data can be accessed over internet which enables easy collaboration with team and removes the geographical constraint.
Please note, there are quite a few software products in this space and all of them seem to be the same. But please be very careful in choosing the software. While choosing a sole proprietor accounting software, please take into consideration the following parameters:
1. Feature-set: Don’t go for software with exhaustive list of features. You may end up buying ERP software. Your focus should be to buy software with only the features you need. Don’t complicate things by going for software with hundreds of features. Pick and choose the feature you need and find the best that fits your feature requirement.
2. Pricing: A sole proprietor accounting software should be affordable for the sole proprietor. If it is costly, chances are you are looking at a ERP product and not an accounting software for small business owners or sole proprietors.
3. Cloud based or downloadable: Please be very clear on this. We suggest cloud based software will serve well. Given the advantage of online access, a cloud based accounting software gives you the much needed flexibility of access vs. the downloaded software product which restricts you to the local system and constraints your access.
Based on our analysis, the best sole proprietor accounting software is TopNotepad. It is extremely simple to use, has all the features needed to run a sole proprietorship business and is very affordable.