QuickBooks

I think QuickBooks is the best computerized bookkeeping software on the market. It works well for many businesses. Businesses need to keep financial records for IRS. Someday you may need these records for the bank or to show to a prospective buyer of your business. It is hard, if not impossible, to create three years' worth of profit and loss statements if you haven’t been doing it as you go along.

QuickBooks keeps track of income and expenses. It balances your checkbook. It gives you credible profit and loss statements. It tracks assets, loans, payroll taxes payable and amounts owing on credit cards. It allows you to do analysis of your business operation, such as comparing income and expenses for the first six months of this year to the first six months of last year. Or perhaps to the last six months of last year. Or to your budgeted amounts. This can be a very valuable exercise.