There are few tasks as crucial to a company’s success as correct tax filing. Unfortunately, with each step your business takes in developing and improving profits, tax filing becomes more complex to manage. A single misstep in this critical area of your ongoing operations could open you up to the tedium and stress of an audit.
No one wants to deal with anything like that, so it is best to have a solid system in place from the offset. Thankfully, there is plenty of accounting software options being made available all of the time now with various specific applications in mind.
While some options cater to the successful accounting processes of very specific commercial industries, others are built with a more general approach in mind. The utility of these types of software suites and solutions goes beyond the simple implementation of an automated tax calculator for accurate tax reporting (although this is certainly a lauded feature to consider); keeping all tax filing procedures entirely up to current standards is of the utmost importance as well.
Also, going beyond the initial calculation and standardization phase for the sake of quickly and accurately making payments or receiving them is another strong bit of functionality currently on offer. Here, we will assess the two accounting software solutions from Avalara and Bill.com, respectively, in order to determine which of the two would better suit your needs should you choose to incorporate them into the inner workings of your business model.
All about Avalara
Avalara is an excellent utility to consider for your company. It incorporates functionality to manage all aspects of tax filing for all major forms of tax information. Be it sales tax, excise tax, communications tax, lodging tax, VAT or UPC, Avalara have things professionally covered for you. Tax calculations are easily obtained through their specialized system and using their service is sure to free up plenty of your time.
They offer a very functional solution for filing plus options for managing tax documents as well. In addition to all of this, they even offer personal tax services with their specialized agents to help you with tax complexities that may arise ad any other tax-related problems you and your business may be facing.
Get to know Bill.com
Bill.com is a very unique software option for companies to try out that features some pretty serious benefits that you will not find anywhere else. With Bill.com, you can manage payments either to or from your company faster than ever before without all of the stress and tedium that typically comes with such activities.
Bill.com features a powerful system that enables business managers to file payments many times faster than they would normally be capable of. Their system works by allowing account managers to scan and fax their bills to their system which subsequently handles the entire filing and responding process automatically.
The results are offered up to you before the payments are made so that you can approve them quickly and efficiently before they go through. Once the payments have been made, Bill.com immediately updates your accounting software.
On the accounts receivable side of your business’s financial operations, Bill.com is just as convenient. The service allows for you to invoice any and all of your customers quickly and effectively while also providing them with any of three major payment options to complete the deal when they can. Your customers access the system online to complete payments to your company and the service automatically updates your accounting software to reflect the successful transaction.
Both of these service providers offer functional software for managing specific, complex aspects of your business’s financial operations.
Both of these options are extremely unique in their approaches, but guarantee high effectiveness and satisfaction.
Neither of these service providers can help you with the entirety of your financial operations so you will need to factor in additional software with which you can combine them for a fully functional accounting system.
Avalara is purpose built for tax operations and all aspects of managing this crucial portion of your business. Bill.com’s only focus is quick, painless payment processing to and from your company.
Avalara also offer person-to-person services to help you manage tax disasters and other taxing situations that you cannot handle on your own. Bill.com does not offer a similar type of service, though. Their sole offer is their software and support for whatever issues may arise with it.
What to Keep in Mind
- You should decide if your current tax or payment situation is complex enough to warrant the inclusion of one of these software services before you sign up to purchase them.
- In some cases, one of these options could prove to be more valuable to your company at the present time than the other. In such a case you should opt to secure one and fully incorporate it into your business operations before taking on the other.
- Managing the accounting processes for a global business on a monthly basis can be extremely strenuous work. Most business managers have already chosen to incorporate quality accounting software into the process to ease their workloads and lower their collective blood pressure.
- It is a good idea to give this type of software a chance, at least for a little while to see if it can assist you in your tax and billing duties. Both Avalara and Bill.com have their uses and could be of tremendous help in the billing and reporting process if utilized properly.