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what is the best accounting software for small business if you have a business you have to have an accounting software you need to keep track of your income your Revenue your profits your expenses all of the bills your contractors and employees there are so many things that you need to keep track of and in this video I'm going to share with you the best accounting software so that you can get it done let's go [Music] let's fix that I'm going to share with you the three top options for accounting software from a multi-millionaire entrepreneur I'm going to share with you the biggest Insider secret on how much you should be paying for an accounting software or if you should be paying at all and I'm going to share with you a major change in the market that is helping business owners every single day there are so many benefits to being a small business owner you probably started your business so that you can work in the business that you wanted to work in You Could Be Your Own Boss without answering to someone else you could set your own schedule and decide when you start working and when you stop working you can decide what days of the week you want to work you can even decide if you're open every single day or what days of the week or months or years that you are not working at all having your own business gives you time freedom and it allows you to have unlimited income potential but as most business owners know it is not always sunshine and strawberries there are a lot of things that we have to do as business owners and accounting is one of of them to keep our finances intact because you also have to file taxes too so let me tell you exactly Which accounting software you should use and how much you should be paying for it accounting is so important for your business because you need to be able to track all of your expenses and know how much profits you're making so many times a business has Revenue means money is coming in but it is not profitable because no one is tracking the expenses or all of the bills and the money that is going out so you need to have this all in order and you need to understand that accounting is so important for your business and there is a difference between accounting and bookkeeping and even filing your taxes but all three of those things are connected if you want to keep learning about business and how to be a successful business entrepreneur make sure you subscribe to this Channel and click that little notification Bell so you don't miss any of this content that I'm bringing to you almost every single day like I said I am a successful real estate entrepreneur I have millions of dollars of real estate and in business I know that accounting is important but it is not one of the things that I enjoy doing in fact I literally hate doing accounting so let's talk about Which accounting softwares make it a lot easier so that you can make millions of dollars but without spending lots of time or money worrying about accounting there are three top options for accounting software many guys already know there are so many options in fact if you Google small business accounting software you will probably get dozens and dozens of companies and software that do this for you and after being a successful business entrepreneur since 2014 I can tell you I have tried almost all of them and I have spent hundreds of thousands of dollars on accounting software so let me tell you what the three best options are that I have found and that are working today for not just me but for my students who are just getting started too number three is QuickBooks I know I know people are going to be complaining no well I've heard about QuickBooks everybody already talks about QuickBooks well QuickBooks is my third option and in fact is the accounting software that we still use in most of our businesses most of our businesses are around 10 million dollars and less and once you kind of get over that level then you're probably going to need something else but QuickBooks has changed so much over time and there are so many different options and levels with QuickBooks which is why I do recommend it you can do QuickBooks not only for your bookkeeping keeping track of what's expenses what are liabilities and putting things in the right place so that you have a detailed profit and loss statement or a balance sheet so you can see where the business stands but you can also pay your contractors your employees you can send out 1099 you can easily do a lot in QuickBooks and there's so many different levels you can get started with QuickBooks for as little as 15 or 20 dollars per month if you're starting and in fact they even have a free trial like I said QuickBooks is what we use for most of our businesses and we absolutely love it but there are some real cons to QuickBooks it is not cheap by any means once you grow your company QuickBooks will really get expensive yes it may start off for free or be only 15 or 20 dollars per month but as soon as you start growing your business to the six figure level even it's going to start costing you hundreds of dollars per month and you're going to have to pay for every little service QuickBooks is notorious for nickeling diming entrepreneurs and charging for every little thing this is one of the things I do not like about QuickBooks however they are one of the longest lasting companies they've been around for so many years and so many people use them so you can easily find people to manage your QuickBooks for you once you get established in your business one of the things that you are definitely going to delegate is the accounting now you want to be able to look at the reports your profit and loss report for example or your balance sheet for example you will review the report yourself as the business owner but the day-to-day bookkeeping and accounting you want to be able to delegate to another person and you have to have a software that most people can use QuickBooks is known by so many different companies that it's easy to find a person to do your QuickBooks for you and handle the accounting or even the payroll for you without having to search for someone that has this specific expertise so QuickBooks definitely is a great option it's definitely what I use but it has some major cons and it is not cheap by any way shape or form so let me tell you some better options that I don't currently use but I definitely recommend number two is a company called xero and that's x-e-r-o zero is another great company that has a lot of the same capabilities as QuickBooks like I said I can do almost everything that I need to do in multiple companies all in QuickBooks and I can even be inside of One login with QuickBooks and see all of my different businesses xero has the same capabilities and it doesn't cost as much xero is an amazing accounting software that will allow you to do almost all of the same things that QuickBooks does it just doesn't cost as much one of the things that entrepreneur you need to be cognizant of is how much money you are spending especially on the Necessities we all need a website and we all need accounting software but we do not want to break the bank with accounting software you want to find a company or a software that does everything that you need but does not cost you a fortune zero is an amazing option it's very much like QuickBooks it's growing in popularity and many people are starting to use zero it is becoming very popular and you can grow with this you can start off as a small company maybe only making five figures a year and easily go to seven or eight figures and stay in the same accounting software I think it's a more efficient option for Less costs than QuickBooks number one fresh books freshbooks has hit the scene and it is really taking off so all of the three accounting softwares that I give you are designed for small business owners as a small business owner we may need to send invoices or get people to pay us and we need to know about all of the money that's coming in and all of the money that is going out fresh books is an amazing accounting software that does not cost as much and it's a lot more efficient additionally freshbooks is becoming very popular and is gaining a lot of market share so you should be able to find someone that's able to use your freshbook accounting software very similar to how QuickBooks is freshbooks is amazing I absolutely love it I've literally received invoices from other people that are using freshbooks and I have a lot of my different contractors and vendors that absolutely love it and I love it too I do not suggest a company called bill.com I'm going to give you one that I don't suggest at all but some people seem to love bill.com is an amazing way to send invoices and get paid but because of its cost it is not something that I recommend literally I've seen people paying five six hundred dollars per month for bill.com and that is absolutely ridiculous you should not have to pay hundreds and hundreds of dollars in order to get paid you can you should be able to send invoices for free so that you can make money in your business it's one thing to have have to pay for software but it's another thing to have to pay every single time you use it so one of the things that I absolutely love about freshbooks is that it can grow you can grow to a very big level without having to spend a lot so between those three options QuickBooks zero and freshbooks those are my top three options and one that I don't recommend and again this is just Noel Randall's opinion is bill.com I have a special offer just for you I've created four best-selling books and I want to give them to you absolutely free you just cover the shipping go to noelle's bookoffer.com and get all of my best-selling books that teach you how to start from zero and turn side hustles into multi-million dollar businesses just like Noel Randall you can get all four of these books for an inexpensive level you can read them and you can get templates charts resources and all of the different things that you need to start any business and turn them into a multi-million dollar business and again it's absolutely free noelsbookoffer.com go there today because supplies are limited and these books are selling fast you want to go there today that's Noel's bookoffer.com Noel Noe l e with an S book b-o-ook offer offer.com noelsbookoffer.com go right now I just want to make sure that you have all of the resources all of the tools and all of the knowledge that you need to be successful this is Noelle to your success