Keeping track of your laundromat's income and expenses is crucial so that you can file accurate tax returns. Accurate financial records help you to make decisions about your business operations. There are many software options for tracking your finances. However, it can be confusing when it comes to choosing the right accounting software for your business. If you need equipment or laundromat repair in Charlotte, NC, be sure to call T & L!
There are a few key features to look for in accounting software:
- Connect bank accounts and credit cards
- Prepare financial statements
- Create invoices
- Pay bills
Evaluating software for your business can be a tedious process, but choosing the right financial software is crucial. Many companies offer a 30 day trial period where you can use the software to determine if it is a good fit for your business.
If your laundromat is on a tight budget, one of the best software options for managing your finances is free. Wave allows small businesses to have the financial functionality they need. While there are some limitations, single-member companies and sole proprietors will find the tool useful. Wave will enable users to manage accounts receivable, track expenses and income, import bank and credit card transactions, prepare critical reports and pay some bills. One of the main drawbacks to Wave is that there are ads visible on the right-hand side of the screen. You can try it for yourself on their website at www.waveapps.com.
Does your laundromat already use Zoho to manage your mailing list or track your expenses? Zoho Books integrates with your other Zoho products to give you a complete picture of your business. Zoho Books allows you to import bank and credit card transactions, prepare and issue 1099s, track inventory, manage accounts receivable, track income and expenses, reconcile credit card and bank accounts, and have a limited ability to pay bills. You can try Zoho books for free with a 14-day trial and plans start at $9.00 per month. Check out the software at books.zoho.com
If you need to invoice your customers or track your employees' hours, then Freshbooks may be the accounting solution for you. Starting at just $15.00 per month you can create custom invoices and track time and expenses as well as manage accounts payable and receivable. A convenient smartphone app allows you to pay and send invoices on the go. Learn more at www.freshbooks.com.
Do you have five or fewer employees and need a way to do full cycle payroll without paying for QuickBooks? Check out Xero. Plans begin at just $9.00 a month and give you complete functionality. While Xero doesn't offer a free version of their product, they do provide a 30-day trial that will allow you to evaluate the service. Start your trial at www.xero.com.
QuickBooks is the standard for small business accounting. However, the service doesn't come cheap. The fully featured financial software giant offers QuickBooks Online Plus, the most popular version, which carries a hefty price tag of $60.00 per month. Sign up for a 30-day trial and evaluate which level of the product is right for you. If you purchase directly on the website, you can save up to 50% off your purchase. Go to www.quickbooksonline.com.
Affordable Laundromat Repair in Charlotte, NC
Do you have other questions about running your laundromat? Let the experienced staff from T & L Laundry Equipment help you navigate the common issues that commercial and vended laundry owners face. For more than 40 years, T & L has been providing the area with the best price, service, and selection on commercial equipment. We also offer the best laundromat repair in Charlotte, NC. We are passionate about the industry and want to put our experience to work for you. Call or come by the showroom today to learn how we can help your vended laundry business grow in 2018!