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In the previous article we talked about the parts that make up any accounting software. In this article, I get more specific by comparing features in QuickBooks, Xero and Freshbooks, the top 3 accounting online solutions ( based on the amount of requests I get to evaluate software choices) in the market. I will be comparing cloud software using the core components of an accounting information system namely inputs, processes, outputs, checks

One of the questions a self-employed person asks when they get serious about maintaining their books is what software to use. QuickBooks, Xero and Freshbooks are the top 3 accounting online solutions in the market. The best way to understand accounting software is to first understand the components that make it. Every accounting system is made up of 5 parts namely: Inputs: Inputs are the documents that are gathered from your business.

Any self-employed business owner who wants to get serious about their business will need to keep records of how the business is doing. There are various ways this can be done. In the simplest of cases records can be kept with a checkbook register. A self-employed individual who needs more complex solutions often moves on to excel but over time outgrows it. The search for book keeping solutions is normally

If you are self-employed and operate under the corporate structure (c or s corporation), you have probably asked yourself what is a reasonable wage to take out of my business. Not only do you have to take wages out to meet your personal needs, the IRS also requires you pay reasonable wages. The IRS requires paying reasonable wages because of the multiple ways corporations can take money out of their

When choosing to start a business with a partner, one of the first questions that comes to mind is how to share profits. How you share profits will depend on the type of corporate structure. This article will focus on forming a partnership using the LLC legal structure. Starting a business with a partner – The LLC LLC and corporations both have the advantage of limited liability. However, the LLC has