The 8 Best Accounting Software for Small Business

bookkeeping software for small business

That said, the depth of its features might be overwhelming to very small businesses but welcomed by companies with more advanced needs. Intuit QuickBooks Online is expensive, so it’s most appropriate for small businesses with a technology budget. It’s easy enough for an inexperienced bookkeeper to learn but feature-rich enough that a more demanding user can make use of its advanced accounting tools. Because it’s so customizable and user-friendly, it would appeal to a wide variety of business types. It’s easy to use and perfect for self-employed entrepreneurs who need an affordable accounting solution. To determine the best accounting software for small businesses, we considered providers in the space and narrowed it down to the top 13 options.

  • FreshBooksempowers small businesses to attract new clients and grow their business.
  • Cloud Books is free invoicing and accounting software for freelancers and small businesses.
  • Native features for Windows 10 include push notifications, keyboard shortcuts, Cortana voice support, live tiles, and Windows Ink.
  • Finom provides exceptional financial services for small businesses and freelancers by integrating tools that large enterprises use.
  • Increasingly, organizations are beginning to see the benefits of automating work processes, including the finance and accounting functions of the firm by using accounting software.
  • While the company now pushes its QuickBooks Online software, QuickBooks Pro has its core user base that loves its features and layout.

If you want to scale Sage as your business grows, you may need to pay for some of the many available add-ons, including payroll, inventory, reporting and more. Xero provides support for both the setup and use of the platform and offers several classes to help you learn more about the platform’s many features. However, it doesn’t have live customer support, so you’ll be limited to chat or email communication if you have problems or questions. Bank data connections are read-only and use 256-bit encryption. Wave is PCI Level-1 certified for handling credit card and bank account information. Internal controls refer to the rules and procedures established by a company to ensure the integrity of accounting and bookkeeping processes.

Advantages of Business Accounting Software

With FreshBooks’ convenient customer support, help is only a phone call away. Choosing the right accounting & bookkeeping software is necessary for every business. The reviews here should help you evaluate your options and select the software that is best suited to your business needs. All plans include invoice tracking and customization as well as rock-solid security. Different countries have different pricing plans, so remember to check the website for the most updated information.

Even freelancers should consider scalability as they research accounting software options. Basic plans for some software solutions have limitations, such as the number of invoices you can create. Once your business growth requires additional accounting features or a higher invoicing cap, you may want to avoid the need to switch to different accounting software. Sage Business Cloud Accounting’s cheapest plan lets you create invoices, track amounts owed, and automatically reconcile your bank accounts.

What to Look for in Accounting and Bookkeeping Software

Integrated payroll and double-entry accounting support make it a potential option for small businesses with a few employees, though there are better choices for those companies. And because it has a simple user interface, even financial novices could use it. To determine the best accounting software for small businesses, we reviewed the rates for each and compared the price real estate bookkeeping to its feature set to determine each provider’s value for the price. We also considered the availability of long-term discounts, contract-free plans, money-back guarantees, and whether or not there are any hidden fees or added costs. Its invoices plan is free, and its accounting plan is $20 per month. For advanced accounting, go with its kashoo plan for $30 per month.

Does Microsoft have a bookkeeping system?

There are several accounting products for businesses and individuals, one of which is a Microsoft accounting software called Dynamics 365 Business Central. This software can help businesses compile and visualize business insights, such as financial performance, business performance, reports, and cash flow forecasts.

Custom options are available, and custom pricing coincides with the features that you choose. Most software also offers add-on features such as payroll services, state tax compliance, CRM, human resources, and inventory control. These prices vary based on features, the state you’re based in, and the number of users.

FreshBooks Review: Features, Pricing & Alternatives for 2023

Transaction Pro is a software solution that can help you keep QuickBooks up-to-date by easily importing, exporting, and deleting data. Reduce errors as you import lists and transactions into QuickBooks. This platform also provides an Admin Portal for customers with multiple QuickBooks company files and users. With Zoho Books, you can collect payments quickly with the automated invoicing feature. Once installed on your desktop, Freshbooks bookkeeping software can generate reports and analyses to give you insights. FreshBooks also allows for customization so you can modify its design and colors as well as add your logo to financial documents to make them look more professional.

  • FreshBooks makes it easy for you to track your time and expense to add to invoices, so you’ll never leave money on the table again.
  • By using virtual and physical cards, employees only need to upload receipts via mobile or desktop platforms.
  • However, Wave charges per-transaction fees for payment processing.
  • Work out how many users will need access to your bookkeeping software, then look for a solution that can accommodate that.
  • Automation can provide enormous time savings for finance departments totaling thousands of hours annually, which is another reason to consider implementing accounting software.
  • We chose Oracle NetSuite as the best accounting software option for midsize and growing businesses that are seeking advanced features.

For instance, you can stay on the free plan until you generate revenue greater than $50,000 per year. With QuickBooks, it’s easy to upgrade your plan as your business grows. A notable advantage to using QuickBooks is that the two least-expensive plans are packed with features not typically found in other solutions’ basic plans. That means you may not have to step up to a more expensive plan as quickly as you might on another platform.

Best for Integrations: Zoho Books

You can effectively analyze the financial health of your business, find ways to generate more profit, and move forward with your business plan. When everything is neatly where it belongs, tax time is simple. Wave’s smart dashboard organizes your income, expenses, payments, and invoices.

  • The software can also be used to generate reports, such as profit and loss statements and balance sheets.
  • To process payment from a customer, Wave charges 2.9% plus 60¢ per transaction for Visa, Mastercard, and Discover and 3.4% plus 60¢ per transaction for American Express.
  • Most online accounting software offers accounts receivable, accounts payable, banking and reporting features.
  • A notable advantage to using QuickBooks is that the two least-expensive plans are packed with features not typically found in other solutions’ basic plans.
  • The software is also a good fit for service-based businesses, such as consultants, web designers and photographers.

It offers best-in-class accounting, inventory management, reporting, payroll, time tracking, and other enterprise accounting-related processes. The robust platform can be installed on up to 40 computers and can track up to one million customers, vendors, and items. Most small businesses use accounting software such as QuickBooks Online or Wave. Accounting software allows business owners to track income and expenses, run sales reports, create budgets, and analyze cash flow. When it came time to do accounting software reviews, we focused on options that had solid features that would apply to most businesses, including both small businesses and large enterprises.


The software focuses on automation, making it simple to send and collect invoices and complete other key accounting tasks. Businesses that have more complex needs have a lot of choices for accounting software. Your business’s specific needs will determine which accounting application is the best fit.