What is a good program that you would recommend to maintain and keep up with the cost and inventory of materials, equipment, and supplies?
Answer: For software to handle your inventory, fixed assets and other accounting needs, we do not know the number of items and transactions you deal with; however, Sage 50 and QuickBooks are two of the most popular accounting software programs used by small businesses. Both programs are very user friendly and include sample charts of accounts that can be modified to meet most business operations. Also, both programs are available in both desktop and online versions and allow use of the cash or accrual methods, provide financial statements and process payroll, and offer considerable financial reports and information. Sage 50 does have some functionality that QuickBooks does not, particularly if you need to modify reports. We use both Sage 50 and QuickBooks in our office and like both. When ease of use is the primary concern, we use QuickBooks. When we have special needs for receivables or inventory, we use Sage 50. Cost wise, there is very little difference between the two. You can purchase these products on the Internet or at office supply and software retailers nationwide.
Both Sage 50 and QuickBooks will, if setup and used properly, produce financial statements that can help you better manage your business and make your annual tax preparation much easier. You can review these and other products through websites like the following:
Published: September 18, 2013