This goes without saying, with the advent of digitalization, businesses are growing at a faster pace than anticipated. This, in turn, raises the need for more robust accounting software to keep track of all the finances and business expenditures. Be it basic accounting, keeping track of payrolls, or managing invoices accounting software is most crucial. That is why in this article we have handpicked some of the best accounting software you can use for your business.
Why Choose an Accounting Software Over Excel?
At some point in time, every other business started with Excel, but that is not the most efficient way to manage finances. One of the most primary reasons being, you can’t really consider Excel for a long-term solution. On the other hand, spreadsheets are often riddled with mistakes.
Transition to accounting software, and you are going to appreciate the scalability, its effectiveness as well as how it can be finely tailed based on your business needs. While some of them being on the cloud, multiple individuals can keep track of the progress at the same time.
If you want the most comprehensive accounting software that excels in every aspect, FreshBooks should be your top pick. Being a cloud-based accounting software, it can be accessed with any device that connects to the internet.
Be it your Windows PC, Android, or any Apple device, you can access FreshBooks. That being said, the intuitive user interface makes it completely easy, even for absolute beginners. With a very reasonable price, FreshBooks is best suited for small to medium businesses.
- Comes with a payment reminder
- Particular categories for tax-friendly expenses
- Seamless time-tracking with the Chrome browser extension
- Easy integration with GSuite and Gusto
- Comes with bank integration
Pricing: FreshBooks comes with three different yearly plans
- Lite: $13.50 when billed annually
- Plus: $22.50 when billed annually
- Premium: $45 when billed annually
Xero is yet another web-based accounting software that is primarily targeted towards small businesses, bookkeepers as well as accountants. With a very easy-to-understand dashboard, you don’t require any prior knowledge to get started.
Xero also packs some of the extra features you won’t be able to find elsewhere. The introduction of Hubdoc ensures you can keep track of all your bills, projects, and costs at the same time.
- Send invoices within a matter of minutes
- Seamless bank integration with the majority of the financial institutes
- Offers its own business data protection
- With over 800 add-ons to choose from
- Easy collaboration with other staffs
Pricing: Xero comes with 3 different price variants on a monthly basis.
- Starter: $9/month
- Standard: $30/month
- Premium: $70/month
3. Zoho Books
While the Zoho corporation is mostly known for its CRM software or Office Suite, the Zoho Books can be a great start for accounting software. It can seamlessly keep track of all your finances or create invoices as well as collaborate with other accountants.
Zoho Books is more on the advanced side, with complete automation. But still, anyone with no prior accounting knowledge can easily set up Zoho Books. And the best part, it can seamlessly integrate with more than 40 different apps.
- Get tax compliances and audit reports on the go
- Easy invoicing and sales orders
- Automated tax calculations
- Seamlessly exports sales tax reports
- Comes with a separated client portal
Pricing: Zoho Books comes with both monthly and yearly plans.
- Basic: $90/month
- Standard: $190/month
- Professional: $290/month
Explore Zoho Books
4. Sage Business Cloud Accounting
Formerly known as Sage One, the Sage Business Cloud Accounting is specifically targeted towards small businesses. Apart from desktop apps, you can also choose the cloud-based solution and set it according to your company size. With over 6 million businesses using Sage Business Cloud Accounting, you can hardly question its credibility.
- Easily manage finances and cash flow of multiple businesses
- Easily create and send invoices
- Control inventory on the go
- View financial reports and analysis
Pricing: The entry-level accounting starts at $10 per month. If you want to use the complete added features, Sage Business Cloud Accounting would cost you $25 per month.
Explore Sage Business Cloud Accounting
5. AccountEdge Pro
While initially published back in 1989, AccountEdge Pro has come a long way over the past few years. It is a desktop accounting software that offers support for both Windows and macOS.
Primarily focused on small to medium-sized businesses, you can actually opt for a basic or pro version based on your requirements. Bear in mind, this is software that is primarily suited for advanced accountants who are already versed with the terminologies.
- Directly deposit and manage your inventories
- Comes with both vendor and customer management
- Seamlessly manage payment processes
- Easy data sync for company files
Pricing: AccountEdge Pro comes with a one-time fee option based while varying based on the no. of users. It’s either $499 for one user or $15/month/user.
Explore AccountEdge Pro
While the majority of us recognize GoDaddy as an online hosting platform, it also offers its own set of accounting and bookkeeping solutions. Seamlessly automating the entire process, you don’t require any prior knowledge whatsoever.
Here GoDaddy has taken a more niche-specific approach, offering solutions for e-commerce businesses. Easily sync your Amazon, eBay, or Etsy account and grow your business exponentially.
- Easily sync with all the online retailers
- Seamlessly manage your online payment processes
- Create and send invoices on the go
- View businesses reports for profit and losses
Pricing: based on your requirements, you can choose 3 different pricing.
- Get Paid: $4.99/month
- Essentials: $9.99/month
- Premium: $14.99/month
7. Intuit QuickBooks
The last on our list Intuit QuickBooks is yet another comprehensive accounting software that simply gets the job done. With more than 7 million businesses using QuickBooks, it is an easy recommendation for small to medium businesses.
While the pricing is set nominally, it is also easy to set up and quick to use. Even anyone without prior accounting knowledge can use the same.
- Easy integration with PayPal, Shopify, Square, and more
- Export tax data and file your tax returns right on the software
- Sort transactions and expenses into various tax categories
- Easily create customized reports
Pricing: You can choose from a variety of price brackets.
- Simple Start: $25/month
- Essentials: $50/month
- Plus: $80/month
- Advanced: $180/month
Explore Intuit QuickBooks
The Bottom Line
So that was our curated guide on the top 7 best accounting software you can use for your business. Starting from the most basic software to the most advanced one, our list covers a plethora of options based on your experience. So, what are you waiting for? Choose the perfect accounting software and grow your business to greater heights.