Excel is ok for a small business to keep track of things, but most billing software will do the same job and in a cleaner way. Eventually if your business is starting to grow, you will need to move to a more dedicated accounting software. For a small business, Simply Accounting (now known as Sage 50 I believe) will work good. In fact, anything by Sage is great accounting software but be prepared to pay a pretty penny for it as your business grows. Simply accounting is relatively cheap but their enterprise software can run into the $XXX,XXX of dollars.
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