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ready to level up your Small Business Financial game join us as we dive into the top five bookkeeping software that'll revolutionize the way you manage your finances it's going to make your life so much easier let's get started [Music] hey there everyone welcome back to my channel in today's video we're going to take a look at the top five bookkeeping software for small businesses in 2023 I've left links down below um for each of the systems so you can just click on the links and check them out after watching this video so as a small business owner managing your finances is crucial and having the right software can make a world of difference so let's dive in and explore the pros and cons of each system to help you make the best decision for your business so first up is QuickBooks Online this software has been a popular choice for small businesses for years and for good reason let's take a look at the pros and cons of QuickBooks Online on the pro side number one it's easy to use QuickBooks Online has a user-friendly interface that makes it simple for even non-accountants to navigate and understand number two integration the software integrates with a wide range of third-party apps such as payment processors Inventory management and Payroll Services number three reporting it offers a comprehensive set of financial reports making it easy to analyze your business's performance and number four it's cloud-based so as a cloud-based system you can access your data from anywhere anytime now on the con side is the price so the monthly subscription fees can be a bit steep especially for small businesses or those just starting out and number two has limited customization so while the software offers many features it lacks some Advanced customization options for invoices and reports number two next up we have fresh books a popular choice for Freelancers and service based businesses so let's dive into the pros and cons for that on the promo side it has time tracking so freshbooks it has excellent built-in time tracking features perfect for Freelancers and businesses that build by the hour number two invoicing the system has a robust and customizable invoicing system number three expense tracking it makes it easy to track and categorize expenses and number four user friendly the platforms designed with Simplicity in mind make it perfect for those who are new to Bookkeeping on the con side it does have some limited features so freshbooks lack some of the advanced features the other software options offer such as inventory management and number two scaling so as your business grows you may find the need to switch to a more comprehensive bookkeeping solution moving on to our third pick we have Zoho books a part of the Zoho Suite of business apps so let's examine the pros and cons on the pro side first of all integration with the Zoho Suite so if you're all you already Zoho apps Zoho books easily integrates with them creating a seamless experience number two customization software offers a pretty high level of customization from invoices to reports number three automated workflows so Zoho books allows you to automate repetitive tasks saving you time and effort and number four multi-location support or multi-currency support so the software supports multiple currencies making it ideal for businesses with International transactions on the con side it has limited payroll support So Zoho books doesn't have built-in payroll features so you'll need to use third-party services and two there is kind of a steeper learning curve so if you're not familiar with the Zoho platform at all some users find the interface less intuitive compared to other options on this list next up we have xero this new zealand-based company has been gaining ground in the small business bookkeeping space let's check out the pros and cons on the pro side beautiful design Zero's interface is clean and intuitive making it easy to use number two it has strong mobile app so the xero mobile app provides an excellent on-the-go bookkeeping solution number three Integrations like QuickBooks xero has also supports a wide range of third-party Integrations and then for inventory management zero offers built-in inventory management features that are ideal for small businesses with physical products on the con side it has limited payroll support um so Zero's built-in payroll features only available in a few countries uh number two customer support some users report slow response times and limited Support options and number five last but not least we have wave which stands out as a free bookkeeping software so let's see the pros and cons on the pro side obviously price number one waves Court accounting features are free making it an attractive option for small businesses on a tight budget ease of use the software is easy to navigate and understand with a clean interface invoicing and receipt scanning wave offers basic invoicing and receipt scanning capabilities perfect for simple bookkeeping tasks number four customer support the company provides email support and a comprehensive help center and on the con side it has some limited features so wave definitely lacks some Advanced features inventory management time tracking and two limited Integrations so it has fewer Integrations compared to the other systems on this list so there you have it those are our top five bookkeeping software for small businesses in 2023 each option has its strengths and weaknesses so it's important to consider your specific needs and budget when making a decision if you found this video helpful please give it a thumbs up and subscribe to our channel for more business tips and advice if you have any questions or suggestions feel free to leave them in the comments below thanks for watching we'll see you in the next video [Music]