Looming year-end inspires small-business accounting software updates

Wave thinks integration, Xero eases reporting and Kashoo updates iPad app.

Yikes, the end of the year is almost here, which means businesses everywhere are scrambling to get their books finalized and in shape for the accounting fun ahead.

Right on cue, several technology companies focused squarely on small businesses are releasing updates to their accounting and financial management applications.

Here are the one that I've heard about in just the past week:

New edition of Wave – The cloud software developer is centralizing all of the different components of its financial management suite into an integrated offering. The service brings together accounting, invoicing, receipt management, credit-card payments - even payroll features. A companion mobile application is slated for release in early 2013.

The accounting and invoicing features are available for free – you pay to add other features. For example, payroll features start at $5 per employee per month; you play 2.9 percent plus $0.30 cents per transaction on the payment service.

A screen shot of the management dashboard is below.



Xero adds new reporting features – 1099 and GAAP compliance reporting have been added to the latest tweak to Xero's accounting software. The update is focused on small businesses that use self-employed workers. It is expected to dramatically reduce the amount of time small companies have to devote to preparing 1099 reports.

"I can't wait for Xero's 1099 features, which I expect will cut the time I spend on this process in half, and give me more time to focus on coaching and advising my clients on their financial health," said Ean Murphy, owner of Moxie Bookkeeping, in a statement about the new features. 

Kashoo gets mobile update – There's a new mobile iPad app for those of you that use the Kashoo cloud accounting service. The primary feature changes include a new interface that let you look at accounts, transactions and related details on one screen; streamlined reporting options; and faster invoice generation. You need to use Kashoo's online service for this to be useful. It starts at $16 per month, if you agree to an annual contract.

For additional recent news about small-business accounting software, see this related story:

Cloud accounting developers add tablet, smartphone apps