It is possible to manage your finances using spreadsheets or even on paper. However, unless you handle a very low number of transactions each month (ten or fewer), accounting software will almost certainly make you more efficient.
If you’re only just starting a business, the case for accounting software may seem less compelling.
However, it’s easier to get used to accounting software if you have it from day one. As your business grows, you can be confident you have software in place to cope with your success, and won’t have to go through a transition later.