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Zip Books is online accounting software with core activities, including invoicing, transactions, bills, reporting, time tracking, and payrolls. It is integrated with several programs like WePay, Stripe, and PayPal. Zip books were developed in June 2015 by Tim Chaves. Later on, it received funding from Peak Ventures. This support led to the development of the software. Several companies, small businesses, sole proprietors, and freelancers use the software to send online invoices and make financial reports. It is the best application that you can access anywhere and effectively manage your business finances. Zip books are suitable for businesses and individuals operating on a tight budget since it has a free plan. Among the best functions of zip books include:
1. Accounting Functionality
Are you having problems with your accounting capabilities? Well, Zip books are the solution for you. Zip books are of great help when it comes to business accounting. It has a feature that allows double-entry accounting. The software will enable you to link your bank account to the application. You will be able to avoid entering a large number of transactions.
Moreover, small businesses it has a default chart of accounts. It allows you to add any additional accounts that you need. The other fantastic feature of zip books is the use of auto-categorization. Auto-categorization is an algorithm that automatically implements the process that you use to categorize your transactions. This feature will help you reduce the work of classifying each transaction that you enter in the application.
2. Invoice functionality
Zip books have an excellent invoicing option that will assist you in writing invoices. They allow you to set up your invoice preference on the software application. You can add your logo and preferred color to enhance the appearance. Additionally, you can allow the ability to accept credit card and PayPal payment methods in the zip book.
The payables for future payments are made easy since zip books can track taxes. Zip books will help you customize invoices by adding notes or sending a message on the customers’ invoices. Further, you can also set a default email used when sending an invoice to a client.
Invoice payments are more manageable due to a convenient online payment option for customers. Clients can pay through an online billing form. Zip books also allow international currencies; hence you can work with clients from different parts of the globe. Zip books make invoicing work more straightforward, efficient, and accurate.
3. Accounting Project and Team Management
Billing can sometimes be a challenging task. It is experienced when you have multiple team members working on a project. Team management is an essential factor to be considered for a business project to run successfully. Accurate information on what the client should be charged is vital when conducting business transactions. Zip books will help you manage your time efficiently, including time, tasks, and progress.
You will be able to add unlimited clients and projects. You can also assign total team members to each project and set custom rates. These features will help you reduce errors by conducting accurate billing. Additionally, it will also record time with the built-in time tracking tool. Truly, Zipbook is the best solution for your project and effective team management.
4. Has Accounting Extra Services
Zip books have extra accounting services like bookkeeping, tax preparation, and payroll services. These services are essential to your business; therefore, zip books give you the best service you require.
Bookkeeping services include reconciling bank accounts, preparing income statements, balance sheets, and financial reports. Further, it also advises on saving money and keep all the required information up-to-date.
Zip books also offer tax preparation features. The tax preparation activities include reporting on taxes, opportunities to reduce tax, quarterly and yearly tax preparation, and providing necessary advice. This functionality helps you stay compliant with the state laws in regards to taxes paying.
Zip books have partnered with payroll providers to pay employees correctly. It manages payroll taxes and updates your information regularly. The human resource department’s work is simplified by using zip books to track payrolls. Additionally, zip books also help reduce the margin of error that can occur due to human omission.
5. Expense Tracking
Many are the times you run business expenses on your account, and you need to be reimbursed. You will be required to states all your business expenses to make tax reporting. Zip books will help you by categorizing and reporting costs. It will track how much you have spent and the purpose. It will also automatically add expenses to invoices. It will save you a lot of time that you could use to list the expenditures.
Final Thought
Zip books are the best accounting software you need for your business. It has excellent features that will make your work easier, fast, and efficient as you operate the business. Further, it has a free starter plan for you in case you have a tight budget. Install zip books and have the opportunity to enjoy its fantastic accounting features, proper invoicing, expense tracking, managing your teams, and finally dealing with tax preparations.