If you are a small to medium sized business, especially service based business, this tech stack will serve you will.
- The accounting platform- go with QuickBooks online. It can sync with tons of other platforms and is extremely easy to learn. Just about every bank account can be synced to the bank feed making it simple to get business transactions into the system.
- bill pay solution - if you have lots of bills that need to be tracked, approved or even international vendors, then use Bill.com. It syncs with QBO and will tell vendors when check is in the mail. Will also save all the support
- Accounts receivable - if you only have a few invoices, do it directly in QBO. Otherwise use whatever PoS (point of sale) system works best for you then sync it back to QBO
- If you have a team of people who need to use credit cards, best expense management platform for that is probably Ramp. But if you don’t want to use a Ramp card and would rather use an existing credit card, then Expensify will let you sync the transactions onto their platform. Then cardholders can upload receipts and code their own transactions.
- Payroll system - over 10+ years I’ve found Gusto to be the best payroll system by a long shot. Best customer service and they will help if there are issues or you want to set up an employee in a new state. They also have benefits available directly in gusto making it easier to track payroll liabilities (which can be a nightmare).
This is the basis of a great accounting tech stack. Just need to make sure you have a solid Chart of Accounts so that it is easy to code transactions and not overly complicated.
Let me know what questions you have!