Why ZipBooks is The Best Cloud Accounting Software?

July 13, 2022
Technology
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Why ZipBooks is The Best Cloud Accounting Software?

Introduction

ZipBooks is cloud-based accounting software that helps you reconcile your accounts effectively, get paid faster, and make business decisions based on actionable insights. The features of this software include accrual and cash accounting, financial reporting, invoicing and billing, etc.

ZipBooks has a free plan and three paid subscriptions with prices starting at $15 per month. ZipBooks is a simple accounting solution that is completely free to use.

The solution can be used to send professional invoices, be paid using credit cards or Paypal, handle automated billing, handle bookkeeping with bank reconciliation, create reports, and track your business’ performance.

ZipBooks is accounting software for small businesses, including freelancers, consultants, contractors, and sole proprietors. In addition to the free version, ZipBooks also offers two monthly fee-based plans.

All plans offer a customized quote and estimate creation, custom invoicing, multiple currency support, and customer and vendor management.

ZipBooks is a simple-to-use application with a simple setup process and bank connectivity, although it is lacking in some areas, such as inventory management and solid product support. Nevertheless, you’ll want to familiarize yourself with the accounting process before using it.

ZipBooks is a cloud-based payment processing and accounting solution designed for accountants and small businesses. ZipBooks allows users to create custom invoices with logos, themes, and messages.

The software has online bookkeeping features such as accounts payable and bank reconciliation, which automatically imports transactions and generates real-time reports of company expenses with the aid of bank integration.

This tool has project management tools that allow users to create tasks, assign them to team members, and monitor performance with a built-in time tracker. ZipBooks accountants can text their clients from the app for streamlined communication and reconciliation.

ZipBooks’ Starter plan is completely free, with add-ons including payroll integration, reputation management, and bookkeeping services.

What is the use of cloud accounting software?

  • Instead of relying on a few select on-premises computers, cloud accounting software allows access to accounting data from any device with an Internet connection.
  • Unlike traditional accounting software, cloud accounting software updates financial information automatically and generates financial reports in real-time.,

How to choose the perfect cloud accounting software for your business?

It can be difficult to choose the best accounting software for your business: every program has its own unique set of features and most offer multiple pricing plans, which can vary in terms of functionality, number of users, and other factors.

When choosing accounting software for your business, keep three main considerations in mind to simplify your search

1. Cost

Would you rather spend less on basic accounting software or invest more in an application that includes more features?

2. Usability

How many users must use the software? Do you prefer a cloud-based system that you can use from anywhere or desktop software? Is your accounting software required to have a mobile app?

3. Features

And what features do you need the app to have? Do you need accounting software that handles both accounts receivable and accounts payable? It is important to know whether the accounting reports that you need to generate are needed to keep track of inventory which includes ancillary services, like project management, time tracking, and payroll.

What is ZipBooks?

ZipBooks

Image Source: ZipBooks

ZipBooks is a solid online accounting software application that is well-suited for sole proprietors, freelancers, and consultants, but with the addition of payroll integration, it will be equally good for small businesses with employees.

Due to the absence of an inventory control feature, ZipBooks is better suited to service businesses than retailers and features excellent time tracking capabilities, which makes it ideal for billing customers for your time and services.

It is financial software that provides accounting packages for small business owners. Its goal is to save you time and money while simplifying many accounting functions.

ZipBooks is mostly used by contractors, small business owners, and accountants because of its high level of functionality and intuitive interface.

The application is most popular with companies in the United States (US), but it is available throughout the world and is also used by international organizations.

Benefits of ZipBooks

ZipBooks is a free online accounting and invoicing software that includes bank connections, expense management, time tracking, and team management functions.

Log in to ZipBooks using the ZipBooks website, and connect your Square, PayPal, or Stripe account to sync transactions and allow customers to pay invoices.

ZipBooks is used by individuals and teams in small and medium-sized businesses to manage invoicing and accounting, as well as accountants, to manage clients and track time across multiple client accounts.

One of ZipBooks’ biggest benefits is also one of its most obvious ones:

  • It is free to use: This is a huge help to newly launched businesses, sole proprietors, and freelancers with limited cash for accounting software.
  • For automatic tracking and posting of income and expenses, you can connect your bank accounts to ZipBooks.
  • Smaller businesses can start with the Starter plan and upgrade to greater features and functions when necessary.

Why do we choose ZipBooks as the best cloud accounting software?

ZipBooks is simple accounting software that is completely free to use. It allows you to send professional invoices, pay using credit cards or PayPal, handle automated billing, manage bookkeeping with bank reconciliation, create reports, and monitor your business’ performance.

For small businesses that need an extremely simple and affordable accounting software solution to automate their bookkeeping processes, send unlimited invoices, manage their vendors and clients, track projects and time, and generate insightful reports, we strongly recommend ZipBooks.

ZipBooks Features

ZipBooks UI

Image Source: ZipBooks

The ZipBooks free plan, called the Starter plan, includes a plethora of features, including the ability to connect a single bank account, log unlimited customer and vendor details, track 1099 expenses, track receipts, and manage sales, expenses, and other bookkeeping and accounting transactions, including accounts receivables.

Their Smarter plan includes more features, including custom invoice emails, the ability to connect multiple bank accounts, an auto-billing option, and the ability to schedule automatic payment reminders. ZipBooks has an iOS app at the moment, but no Android app.

– Accounting

Accounting functionality ZipBooks provides excellent accounting features, including double-entry accounting. You can link your bank accounts to the application (one in the Starter plan), reducing the need to enter a large number of transactions.

ZipBooks provides a default chart of accounts that should be used by any small business, with the option to add more if necessary. This tool also offers auto-categorization, which is a built-in algorithm that remembers how you categorize transactions and implements this process automatically, reducing the need to classify each transaction entered.

ZipBooks makes it easy to track accounts receivable balances for timely monitoring of past due accounts, and a project management function is included in the application.

– Invoice

ZipBooks provides excellent invoicing options, including the ability to add your logo and accent color, accept credit card and PayPal payments, and the ability to list taxes as payables for easier future payments.

ZipBooks invoice template with formatting options on the left side of the screen After an invoice has been completed in ZipBooks, you can send it directly to your customer. You can further personalize invoices by including a note or message on customer invoices.

You can set up your invoice preferences to create a default customer email, which can be used when sending an invoice to a customer, as well as an invoice template for all future invoices.

– Time tracking 

ZipBooks provides excellent time tracking capabilities, making it ideal for consultants, independent contractors, or anyone that needs to track their time. It displays a timer conveniently at the top of the user dashboard.

Once you have successfully entered your time, simply click on the green arrow to choose a customer or project, enter notes, and start tracking it. You can stop and restart the timer as many times as you like, and keep notes for billing purposes along the way. ZipBooks’ time tracking screen, with fields for the project name, description, and button to start the clock, will display any recorded time in the time entries list.

– Reports

ZipBooks provides a good selection of standard reports in many categories, including standard financial statements, accounting & tax reports, sales, expenses, and tracking reports. Reports are limited in terms of customization, and export options are limited to a CSV file, with no option to generate a PDF.

ZIpBooks also offers Intelligence reporting, giving you advanced reporting options. Intelligent features include a Business Health Score, which lets you see how your business is financially performing, an Invoice Quality Score, and a Smart Search, which makes it easy to locate bills, vendors, invoices, or customers that have been entered in the database.

– Customer and Vendor Management

The contacts feature in ZipBooks lets you track both customers and vendors from one screen. Once a contact has been entered, if they are paid in ZipBooks, they are considered vendors, if you are paid from them, they are considered customers.

If a contact is a vendor, you have the option to uncheck the 1099 contractor box next to their name, which will keep track of all their payments and allow you to send 1099 at the end of the year.

– Bank reconciliation

Eliminate inconsistencies between your accounts and the bank’s records, consolidate all your information regarding deposits, withdrawals, and invoices, and the interface is designed to import data. Even when you are unable to connect to your bank, you can still transfer transactions to ZipBooks from bank statements.

– Business Intelligence

This module turns your data into actionable insights that can help you grow, and reports, machine learning, and customized scores help you understand where and how to improve. It also gives you a business health score and an invoice quality score, after which it makes specific recommendations to help you successfully grow your business.

ZipBooks Pros

  • It can handle unlimited transactions and clients for free.
  • The tool is easy to use.
  • Can switch between cash and accrual accounting.
  • It provides integrated time tracking.
  • There are assisted bookkeeping options.

ZipBooks Cons

  • Ecommerce companies: ZipBooks is missing a range of features that e-commerce businesses would benefit from, such as e-commerce platform integration and inventory management. To find a better solution, check out our guide to the best eCommerce accounting software.
  • Merchandising: ZipBooks Sophisticated lacks the inventory accounting functions we desire, such as recording the cost of goods sold (COGS) and automatically calculating end inventories. We recommend QuickBooks Online if you need to keep track of inventory stock levels and costs in a single place.
  • Mobile App: ZipBooks does not have a mobile app that can complement its web application; instead, we recommend Zoho Books, which has a complete mobile app. ZipBooks does not currently offer an app for Android devices but offers one for iOS users.
  • The paid plans only contain important features
  • Lacks advanced features and integration options
  • Does not support multi-entity accounting
  • Cannot track inventory

ZipBooks Pricing

ZipBooks offers four accounting software packages: Accountant, Smarter, Sophisticated, and Starter. The Starter package is free to download and allows the user to upload unlimited invoices, vendors, and customers, and it can be connected to only one bank account.

The Smarter and Sophisticated plans are available as a monthly subscription, while the Accountant package is available at custom prices. You can visit their website for more information on their plans and pricing.

If you are a small business in need of simple accounting software, ZipBooks should have a solution that meets your needs. The ZipBooks Starter package is a perpetual free version; the ZipBooks Smarter package costs $15 per month. The cost of ZipBooks is determined by the features desired and the number of users needed.

ZipBooks is a scalable small business accounting platform that offers three plans for small business owners, along with an Accountant plan for bookkeepers and accountants who work for a variety of clients. ZipBooks pricing chart ZipBooks offers multiple plans, including the free Starter plan.

A. Starter Plan

The Starter plan is the ZipBooks free plan for a single user and includes unlimited invoicing, customer and vendor management, connection to a single bank account, and the ability to accept online payments.

B. Smarter Plan

The Smarter plan supports up to five users at $15 monthly and includes recurring invoicing, automated reminders, time tracking, and the ability to connect to multiple bank accounts along with Starter features.

C. Sophisticated Plan

The Sophisticated plan supports an unlimited number of users at $35 monthly and includes all of the features in the Starter and Smarter plans. It also offers a custom chart of accounts management, more robust reporting, and the ability to share documents.

D. Accountant Plan

Created for accountants, the Accountant plan is suitable for people who perform bookkeeping or accounting tasks for many clients.

ZipBooks can place your business in contact with a ZipBooks pro, who will serve as your small business’s bookkeeper. This plan costs $125 per month, which is rather steep if you are just starting.

Conclusion

ZipBooks is well worth a second look if you’re a small business looking for an easy-to-use accounting application with robust accounting capabilities. The price is attractive since even upgrading to a paid version will cost you a maximum of $35 per month. The software’s outstanding time tracking and invoicing, as well as its excellent document sharing capabilities, make it best suited to service and consulting businesses.

Some FAQs

Q: Is there a feature for payroll ZipBooks? 

A: Although there are no features for payroll in ZipBooks, it does offer integration with Gusto Payroll.

Q: ZipBooks has a free plan?

A: Yes, the ZipBooks Starter Plan comes with a good range of features, including unlimited billing, online payment acceptance, and basic reporting.

Q: How many users are supported by ZipBooks?

A: While the free Starter plan only supports one user, the Sophisticated plan supports an unlimited number of users.

Q: Does ZipBooks work with square?

A: ZipBooks is a modern accounting software solution that makes reporting simple and helps you find your happiest customers. At the time of writing, a quarter of all U.S. households are employed by a service provider that uses a.

Q: Which accounting software is the easiest to use?

A: QuickBooks Online, Zoho Books, and ZipBooks are the three best accounting software programs for learning and using. In minutes, you can have your basic company data in place with all three.

Q: Is ZipBooks secured?

A: ZipBooks uses 256-bit TLS encryption to ensure that, when you transmit information back and forth between ZipBooks and your computer, your transmissions are encrypted. This is the same encryption level used by banks and other processors of highly sensitive data.

Q: How do I contact Zipbook customer care?

A: You can contact support at help@zipbooks.com or by dialing (415) 964-1947 from 9:00 am to 5:00 pm, Mountain Standard Time.

Q: Is there an application for ZipBook?

A: As of the time of writing, there is no android app but there is an iOS app for users. However, a mobile-optimized browser experience is offered.

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