Keeping financial accounts using Excel quickly turns into a nightmare – we all know that for sure. Fortunately, the fintech sector has evolved greatly in recent years, with numerous specialized accounting tools appearing on the market. Designed to make bookkeeping operations much easier, these digital assistants foster effective cash flow management, increasing the overall productivity of a business. We will walk you through the best accounting project management software to help you choose the most suitable tools for your company.
SAP Software
SAP company is one of the global leaders in business AI and enterprise applications. Launched more than 50 years ago, it has earned a high reputation among small and big organizations that choose its products for business-critical operations involving finance, supply chain, procurement, HR, and customer experience. The accounting project management software from SAP is adapted to different business sectors. Plus, it offers a complete ERP and allows you to:
- Unite financial plans and actuals in one system
- Automate manual processes, from accounting postings to financial reporting
- Assess productivity with data-driven insights
- View invoices across different channels
- Harmonize all your data within one ecosystem to get a better knowledge of your deals
- Improve supply chain planning with real-time analytics and visual simulations
- Boost your workflow with a high-quality AI tool
Sage for Accountants
Sage is the best project accounting software for busy bookkeepers willing to save time and effort while working on their tasks. It’s the ultimate AI-powered solution to boost productivity and make smart financial decisions through advanced inventory tracking, detailed reports, and handy financial tools. The service offers several subs tailored to different business goals. However, the most prominent Sage’s features include:
- Creating invoices, accepting payments, and tracking debts
- Managing stock levels
- Automatic inventory updates after each outgoing or incoming cash transaction
- Getting accurate financial insights
- Calculating and submitting VAT
- Keeping track of the company’s performance based on the predefined targets
- Getting personalized action lists
- Digitalize tax work and accounts to eliminate time-consuming manual processes
PDFGuru
PDFGuru is a universal document management tool aimed to help businesses handle paperwork easily and efficiently. This online editor and converter operates as a web-based app accessible through any device, which allows companies to save on digital storage. The tool is perfect for dealing with financial reports, contractor agreements, legal forms, purchase orders, and other document types, as it’s packed with advanced features to keep files well-organized. Accountants find PDFGuru.com especially useful for:
- Creating files in PDF format
- Converting PDF documents from/to dozens of other file types (Word, Excel, JPEG, Text, MOBI, HTML, PPTX, etc.)
- Editing PDFs (modifying text, adding comments and annotations, inserting graphs, etc.)
- Splitting and merging files
- Compressing documents to reduce their size for convenient storage
- Filling out financial forms
- Extracting, deleting, and organizing pages
- Signing documents online
- Encrypting files and protecting them with passwords
- Analyzing documents with an AI summarizer
Xero
Xero is accounting task management software that leverages AI to accelerate the growth of small businesses and self-employed traders engaged in different industries. This popular cloud-based platform enables users to manage their financial data easily. In addition, it provides a range of advanced features to assist with payroll, tax filing, invoicing, and more. Xero also integrates with more than 800 third-party apps, covering everything from logistics and inventory to customer relationship management. Here’s what you can do by harnessing its power:
- Accept payments and manage invoices
- Reimburse and track expenses
- Match your bank data with invoices, bills, and receipts
- Manage project budgets
- Create and send purchase orders
- Get accurate accounting reports to track your finances
- Keep all items you sell and buy in one place and check their total value
- Explore key performance metrics of your business
- Get real-time projections on your cash flow
QuickBooks
QuickBooks is probably the most popular project accounting software across the globe. The platform offers a range of powerful features for small and medium-size companies and integrates with 750 business apps, including Shopify, Webgility, and PayPal, to name a few. Thanks to its intuitive interface, the service is easy to set up and use, while a convenient QuickBooks app makes accounting hassle-free even on the go. The following features make the platform particularly appealing and enable businesses to:
- Run advanced reports
- Import transactions from financial systems
- Record and sort expenses into categories
- Get detailed cash flow insights
- Categorize accounts into groups
- Send bulk estimates
- Create and send custom invoices
- Receive budget predictions
- Track what’s in stock
- Submit VAT returns to HMRC
- Track and calculate CIS taxes
Final Thoughts
It goes without saying that each business owner eager to make a profit should know where their funds are spent and earned, which is impossible without rigorous accounting management. Indeed, keeping financial accounts in good order goes hand in hand with efficient decision-making. To make things work in the best way possible, choose project management software for accountants according to the goals and needs of your company – all the tools described in this guide are worthy of your attention.