List of Online Accounting Software and Why Cheqbook is the BEST Choice
Online accounting software in general has a wide variety of different benefits that can’t be ignored. Instead of storing all of the important financial information for your business on a single hard disk drive, you’re storing it on the Internet. If you ever need to quickly make adjustments, print out an invoice, check some numbers or perform any other type of pertinent task, you can do so from nearly any computer in the world with an Internet connection. You no longer need to physically be at work to get something productive accomplished.
Of all the different online accounting software products that are available, Cheqbook is the clear leader for a number of reasons. Once you begin to look at the list of accounting software and see what each product has to offer, you’ll easily understand why Cheqbook is the clear victor and the future industry leader in this category.
List of Accounting Software:
FreshBooks Cloud Accounting
Cheqbook Smart Online Accounting
When you compare Cheqbook smart online accounting to a list of other accounting services available, you’ll quickly find that Cheqbook offers more features than nearly every member of the distinguished competition. Cheqbook has over 20 additional features when compared to FreshBooks Cloud Accounting, for example, and also does not limit the use of features in any way.
Some of the features that are available in Cheqbook that are not available in FreshBooks Cloud Accounting include the AccuScore Smart Categorization function, unlimited simultaneous users available in all plans, the fact that it is a fully functional accounting software, the ability to generate accrual accounting, journal entries, memos by line items and more. Cheqbook also allows you to create a chart of all the different accounts that you’re using for easy reference in the event that you’re using more than one account per business. The FreshBooks Cloud Accounting ability to add and edit charts of accounts is limited, while it is fully functional in Cheqbook.
Cheqbook has over 14 more features than the Wave Accounting service, including the ability to generate customization of reports that you’ve created using the service. Wave Accounting is missing a large number of features that Cheqbook users have come to know and love. These missing features include the AccuScore Smart Categorization function, the ability to generate cash reports, the ability to assign a default tax code to reports and accounts that you’ve generated using the service, the ability to create automation rules, the ability to import contacts and more.
The ability to import contacts will be especially useful if you are using Cheqbook to create invoices for various clients that your business may have. Instead of entering in the contact’s address and other information by hand each time you need to generate a report, you can import the contact from one of a number of different services and allow the program to automatically take care of the rest.
Cheqbook has six more features than Xero Accounting. One of the most notable differences between the two services is that Cheqbook does not quarantine transactions in any way. One major difference between the two services is that Xero Accounting does not give users the ability to batch edit transactions.
Batch editing means that you can quickly edit more than one transaction at a single time. If you had 100 different transactions all relating to the same company, for example, you would need to edit each of them manually in Xero Accounting if you ever need to make a change. You would need to perform manual edits regardless of how big or small the changes really were. In Cheqbook, on the other hand, you can select all of the transactions that you want to edit and make the change once. The service will then apply the new information to all of the selected transactions in one fell swoop.
One of Cheqbook’s major competitors is QuickBooks by Intuit. Devoted users of QuickBooks may be surprised to learn that Cheqbook actually has eight full features that their software of choice doesn’t have, including the ability to add categorization to transactions that you create and enter with your account. Other notable features that QuickBooks lacks include the AccuScore Smart Categorization function, unlimited simultaneous users in all plans, the ability to create automation rules and more.
Cheqbook also supports additional formats when the user is importing bank statements from various services. While both companies support the OFX and QFX file formats, only Cheqbook supports the popular IFX file format. Cheqbook also gives users the ability to host invoices on the Internet for customers to view, which can save a great deal of money in postage if your customers are on board with these methods.
Once you’ve examined all that the competition has to offer, you’ll begin to realize why Cheqbook is becoming the leader when it comes to online accounting software for small businesses.