Managing Finances – Bookkeeping, Budgeting, and Debt Management

How does your business manage the finances and bookkeeping? 

What software are you using and why did you choose this specific software?

 Have you asked yourself, “Should I hire an employee or outsource my bookkeeping? What are the pros and cons”?

Managing a business can feel overwhelming if the business is not organized, doesn’t have enough capital, or if you are doing all the work, instead of delegating responsibilities, to free up your time to manage the business. Most businesses fail within the first five years, and this is part of the problem. Managing finances, bookkeeping, budgeting, and debt management can be overwhelming and time consuming. Selecting the right bookkeeping software can be challenging.

Software programs used to organize your finances can be hard to learn and the support for the programs can charge for their services or be hard to get ahold of. As of 2025, these are the top-rated bookkeeping software programs.

Software programs used to organize your finances can be hard to learn and the support for the programs can charge for their services or be hard to get ahold of. As of 2025, these are the top-rated bookkeeping software programs.

• Oracle NetSuite (Most Recommended)

• Intuit QuickBooks (Top Choice Software)

• Sage

How do you choose the right program for your needs?

Before you purchase a bookkeeping software program, there are a few things to consider.

• Bookkeeping software is different from accounting software. They have some features that overlap, but there are two major differences. They both focus on finance management, budgeting, debt management, and bookkeeping.

  
  

• Bookkeeping software is more in depth, identifying expenses and income, debt management, and recording transactions. They come with the ability to integrate with third party accounting software.

  
  

• Accounting software is used for financial data and interprets the transactions to determine the financial health of the business. It works with bookkeeping software and encompasses most of the features, to provide an overview of the financial transactions of the business.

 

When choosing bookkeeping software, ask the following questions:

• Does the software program offer mobile access?

• Is the software program cloud based?

• Does the software program cover all my needs such as inventory, invoicing, sending quotes to potential customers or expense tracking to help with managing finances?

• Is this software program easy to use and does it have tutorials to learn more about the program?

• What is the cost for the software program and upgrading the software?

• What does the bookkeeping software offer for each cost?

• Is it comparable to other software programs?

• What kind of customer support does the bookkeeping company offer?

• Does customer support charge for their support services?

Compare the top recommended bookkeeping services:

Oracle NetSuite (Most Recommended)

Pros:

• A comprehensive ERP and CRM platform, beyond basic accounting

• Excellent visibility and real-time data access

• Helps with managing finances, planning, and budgeting

• Integrates with third-party tools and customizations

• It offers full-featured accounting functionality, so users don’t need to manage multiple systems or applications, like QuickBooks.

• Cloud Based

  
  

Cons: 

• Complex to use and can be overwhelming for users

• The cost is higher than other bookkeeping software. This software is based on the size of the organization, annual revenue, and different modules of employment.

• The implementation fee can cost up to $10,000

• Requires specialized knowledge and budget for add-ons

  
  

 Intuit QuickBooks (Top Choice Software)

Pros: 

• Finest invoicing and expense management features for finance management

• Well designed and user-friendly

• Offers reasonable, comparison pricing

• A good starting point for small businesses for bookkeeping, budgeting, and debt management

• Cloud-Based

Cons: 

• May lack advanced features for larger or complex businesses

• Has limited inventory management functionality, compared to other bookkeeping software programs

• Relies on third-party integrations for advanced features

• Does not automate or solve for a range of critical business processes such as subscription billing, revenue recognition, asset management, and multidimensional reporting

• There are extra costs for advanced features

• Limited efficiency for finance management

Sage

 Pros:

• Has a wide range of features for a variety of business requirements for managing finances, and bookkeeping needs

• Better for businesses needing unlimited users and transactions

• Good for managing multiple businesses and comprehensive reporting for budgets and debt management

• Can be reasonably priced for businesses on a tight budget, with unlimited features

Cons: 

• Can have an extensive learning curve

•  It has a higher price than other bookkeeping software programs

•  It has a lower entry price point, but can increase with more features for users

Another option is services through Right Networks. This is a cloud hosting service that offers QuickBooks.

Right Networks

Pros:

• Ease of access

• No local server needed

• Remote access for your accountant to log into your account and assist with your bookkeeping needs, if they use Right Networks and QuickBooks

• Redundant cloud infrastructure for 99.9% uptime

Cons:

• Bandwith-intensive, especially with multiple users accessing the system

• Simultaneously

• May not support third-party applications

• Users may need to contact customer support for minor issues

• Experiences drops, freezes, and resets, impacting user experiences

• Costs can be expensive, compared to other options

• Support is not always available outside of business hours

If you are feeling overwhelmed, not knowing which software to purchase, managing finances, bookkeeping, and how much time it will take you, when you could manage your business and staff, I recommend outsourcing your bookkeeping services.

Smart business management is delegating responsibilities to others, to free up your time and save money. This will allow you to better manage your business, your staff, and improve customer service. It’s okay to delegate responsibilities, internally and externally. Doing all the work yourself can be overwhelming.

 

Excellent business management is relying on others to run your business while you manage your business. Many businesses that fail is not managed effectively and efficiently. This is one area that can be managed by outsourcing your bookkeeping services.

Outsourcing your bookkeeping services to save you time and money - Delegation to Manage finances, budgeting, and debt management.

Outsourcing bookkeeping services will save you money and free up your time to manage your business.

Hiring an employee will cost more money, by paying an hourly wage, workers compensation, insurance, sick time, vacation time and other expenses or benefits.

S.R.R. Business Services specializes in bookkeeping, using QuickBooks. They offer bookkeeping services, content writing, and business advisory services, to assist existing and expanding businesses, and startups. S.R.R. Business Services wants to connect with you, and your business. 

Outsourcing business services to save money and free up your time to manage your business, staff, increase income, and improve customer service.

I hope this blog post provides you with valuable information, to decide which bookkeeping software to use and outsourcing options.

Please return to our Lifestyle Changes blog site for future updates and posts.

Thank you.