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What Software Does Every Small Business Need?

When it comes to running a small business, having the right type of software is critical. Whether you’re looking for a project management tool or payroll software, you have to consider everyone’s needs.

As a small business owner, you’re responsible for ensuring your clients are happy and your employees are working effectively. Here are three types of software you need to get the job done:

Payroll Software 

As a small business owner, you want to focus on bringing money in. You don’t want to spend your time making sure payroll is in order — and you shouldn’t have to. Payroll software can help you avoid costly mistakes and draw your attention away from administrative duties. But before you choose a software, make sure it’s small business-friendly:

OnPay: For easy setup

OnPay is a white-glove payroll software that makes payroll processing fast and understandable. It’s a complete payroll solution that allows you to create employee records and run unlimited pay runs every month in any state. OnPay will even take care of tax filings for you. And it’s mobile-friendly so you can access it anywhere. Plus, OnPay provides a suite of extras, such as HR and benefits tools.

Square Payroll: For contract employment

If you work with contractors, Square Payroll is a great option. When contractors sign in and enter their information, you can pay them without skipping a beat. Square handles federal and state taxes and offers unlimited payrolls. Keep in mind, Square isn’t as advanced as other software options. This software works best for companies with just a few employees.

Wave Payroll: For basic payroll

If you need a “just the facts” payroll solution, Wave works well. For $20 per month, plus $6 per employee or payee, Wave includes workers’ compensation coverage options, W-2 and 1099 tax form preparation, and online customer service. Wave also provides a full-service option in certain states for $35 per month, plus the per-employee fee.

Bookkeeping Software 

A common issue for small businesses is not taking bookkeeping seriously. No matter how small the payment is, there should be a record of the transaction.

Accounting gives you an accurate understanding of your company’s performance. It lets you spot issues before they become money pits, and it keeps you on the right side of Uncle Sam.

The trouble is that not all companies need the same type of bookkeeping services. As a small business, you need software that’s easy to understand and that works in your favor. Consider:

QuickBooks Online: For overall management 

This cloud-based version of the original desktop software offers several essential tools for small business owners. Not only can you accept credit card payments, but you can also track expenses and income. QuickBooks Online is your own personal bookkeeper that will manage your accounts and even run financial reports.

Xero: For company growth 

Xero can send invoices, track expenses, pay bills, manage inventory, and even sync with checking accounts. This accounting software stands out because it offers several unique features. Are you trying to grow your small business? With Xero, you can have an unlimited number of users, which is a rare feature for most accounting products. Xero also provides financial statements, meaning you won’t have to pull them yourself.

GoDaddy: For basic needs 

GoDaddy is great if you only need basic bookkeeping. The software is easy to use and handles invoicing, as well as payment processing. If you’re a small business owner, chances are you’re wearing several hats at once. With GoDaddy, your finances will be taken care of so you can spend more time running the company.

Project Management Software 

The customer is important, but so are your employees. To do good work, your teammates need tools that’ll help them perform. That’s where team collaboration software comes in. From keeping track of projects to improving communication, there are several options at your disposal:

Asana: For easy collaboration

Do you need a better way to keep employees on track? Asana is a project management software that makes it easy to assign tasks and monitor deadlines. With this software, you can stay updated on your team’s progress and add members to improve efficiency.

Evernote: For note-taking

Think of Evernote as a digital journal: It allows you to keep lists, notes, and blog content all in one place. This software is an effective way for employees to take and share client notes. It’s also a great tool for brainstorming ideas and passing them on for approval. You can upload files, organize topics, and paste images into text. There’s even a mobile app so you can access the information whenever you need to.

Redbooth: For organizing team projects 

Redbooth lets you clearly lay out tasks and subtasks. With this software, you can see not just who’s working on a project, but also which portion is assigned to which team member. Not only can co-workers message directly on Redbooth, but they can also video chat to ensure everyone knows what’s going on.

With all the small business tools out there, it’s important to pick the right software for your company. The key question is this: Does it cut costs or bring more revenue in the door? If so, invest in it.

About ReadWrite’s Editorial Process

The ReadWrite Editorial policy involves closely monitoring the tech industry for major developments, new product launches, AI breakthroughs, video game releases and other newsworthy events. Editors assign relevant stories to staff writers or freelance contributors with expertise in each particular topic area. Before publication, articles go through a rigorous round of editing for accuracy, clarity, and to ensure adherence to ReadWrite's style guidelines.

Brad Anderson
Former editor

Brad is the former editor who oversaw contributed content at ReadWrite.com. He previously worked as an editor at PayPal and Crunchbase.

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