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Which accounting software is best for corporation with one shareholder?

By Emily Denyes |

Wendy asked:

I am an optometric corporation in British Columbia and am the only shareholder in it. I will only be paying myself and no other employees. My question is which accounting software is best for me.

Emily Denyes answered:

There are two main software packages that are used in Canada: Simply Accounting and QuickBooks. Both have come a long way recently to improve the user friendliness of the software and either should be able to meet your needs.

Pricing is fairly similar between the two brands. The basic version of Simply sells for about $50 and the basic version of QuickBooks sells for about $100 (or download for free with some limitations). If youпїЅre looking to track your payables or use the payroll modules, you will likely need a more advanced version (about $100 more). Although new versions come out every year, you likely will not need to upgrade each year.

Because both packages work well for bookkeeping in Canada, the deciding factor usually comes down to what you plan to do at tax time. If you are having an accountant prepare your corporate tax returns, be sure to ask them which package they use. They may be more efficient with one package than the other which could save them time and you money. They may also have money saving coupons you can use for the purchase.

If youпїЅd like to try them out, you can download free trial versions from each web site.

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