Today, entrepreneurs and business owners are turning toward technology to improve their accounting processes, by using the best small business accounting software available that meets their needs.
With more efficiency and less paperwork, the applications enable you to stay real-time updated with all the key financial indicators and metrics.
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No wonder why small business accounting software is highly sought after. The available software applications these days are highly adaptive, scalable, and empowered with automation options that can meet needs from any individual to a corporation.
You may find plenty of accounting software solutions available, but with the right accounting software in place, you’ll be focusing less on number-crunching, and more on expanding your business.
6 Key Features of Small Business Accounting Software
On the surface, accounting software will do what accounting is generally about:
- Generating reports,
- Complying with legal and statutory requirements, and
- Handling bank reconciliations
However, as you get better features, it will bring every aspect of your accounting workflow to the top level. A powerful business accounting software can also help eliminate inaccuracies, organize data, and speed up approval processes.
Here are some of the key features that you should be looking for:
- Cloud Services: Access your date from anywhere, any device, using a fast Internet connection. Also, you wouldn’t have to additionally purchase software licenses or servers.
- Ease of Use: Whether you are bookkeeping, sending bulk estimates, or creating reports, the easy interface will only save your valuable time. Also, it will improve your efficiency in functions otherwise not feasible in a complex interface.
- Automation: Processes such as receipt scanning and bank reconciliation can become highly mundane and time-consuming if done manually. Automation will save your time, energy, labor, and cost.
- Integration: Applications that offer integration with third-party software are a gem. Whether you use PayPal, SalesForce, Amazon, Oracle, or different accounting software, third-party integration options available will boost your accounting process.
- Pricing and Budget: The software’s pricing and your budget should go hand-in-hand for long term sustainability and avoid getting ripped off by getting features that you do not need.
- Reminders: Setting due date reminders will help you avoid late payments to vendors, and also update your clients to make payments to you on time.
Regardless, if you’re an entrepreneur, freelancer, consultant, small-business owner, or CEO, you can find a variety of home business software options for your daily business needs.
The Best Accounting Software for Small Businesses (2020)
This entry is perhaps the least surprising of all. If you ask any accounting professional to name one SaaS company, their most likely response will be QuickBooks.
This is how popular QuickBooks is. However, it is not just the popularity of the name, but also the top-notch features, quality user-interface, and outstanding customer support that makes QuickBooks a complete package.
As you would have thought, QuickBooks has made to our list of the best small business accounting software to use. This product has been designed in such a way that it suits every type of business – be it a large enterprise, or freelancer working from home. And the best thing of all is that you only have to pay for what you need.
It is safe to say that QuickBooks has dominated the industry for years. Having said that, you can find even more business accounting software and features in this list that can precisely meet your needs.
- Manage and organize your business accounting on the cloud through your PC, mobile, or tablet
- Track record of your tax times and save receipts through your phone’s camera.
- Record vendor invoices and sends them over within minutes
- Make smart business decisions through in-depth data reporting
- Schedule recurring payments and pre-recorded vendor bills to save precious time.
- Pay employees, automate payroll tax calculation, and auto-fill payroll tax forms
- Automatically back up your data to ensure the safety of your accounting reports
QuickBooks offers the following price packages:
- Free Trial – give QuickBooks a free trial for 30 days; this excludes any discount offers
- Simple Start – at $15/month (50% discount for first six months), track sales, expenses, and profits offers unlimited invoices, manage your sales tax, cross-platform support, all for one user.
- Essentials – at $23/month (50% discount for first six months), everything included Simple Start, also you can manage bills, sales quotes, and use more currencies, all this for 3 users and 1 accountant.
- Pro – at $31/month (50% discount for the first six months), everything included Essentials, manage inventory, purchase orders, and much more for up to 5 users and 1 accountant
Best suited for small business, growing startups, entrepreneurs, and freelancers, FreshBooks is one of the leading small business accounting software, it’s the reason behind this is clear.
FreshBooks has a dynamic and powerful user-interface that makes accounting and billing cycle easy to manage. Because of that, FreshBooks becomes a prominent choice of business owners with limited knowledge of accounting.
Even more so, FreshBooks offers automates and speeds up labor-intensive tasks, such as creating invoices, sending client reminders, or managing inventory. You can safely and securely back-up your data on its cloud storage and access it from any device that you may be using.
Among the flurry of beneficial features, these are the most notable ones that FreshBooks provides:
- Auto-send custom payment reminders, optionally apply automatic late fees, recur similar invoices, and request deposits on your invoice upfront.
- Send invoices to clients in their preferred language through Freshbook’s multi-language feature
- Save keystrokes by creating duplicate invoices and making adjustments as you wish
- Organize receipts, keep track of your spending through easy-to-read summary, and get your expenses ready for tax time
- Manage estimates and swiftly convert approved estimates to invoices
- Track and bill employee work hours, and collaborate with your entire team through the Team Time Tracking feature
- Available as a Chrome extension, access FreshBooks from your web browser within one click.
The following are the annually-billed price packages offered by FreshBooks:
- Free Trial – give FreshBooks a free trial for 30 days
- Lite – $15 /month, bill up to 5 clients, contains all basic features, unlimited invoices, expense entries, time tracking, and estimates. Add team members for $10 per user.
- Plus – $25/month, bill up to 50 clients, contains everything Lite has to offer with more advanced features. Buy advanced payments feature for $20/month.
- Premium – $50/month, bill up to 500 clients, other features are the same as Plus.
- Select – custom pricing, bill more than 500 clients, personal account manager, low credit card rates, and much more.
Based in New Zealand, Xero provides all the promising benefits that will fast-track your accounting process. This app is a remarkable choice for small and medium-sized businesses. The company that runs Xero offers products that are used in more than 180 countries.
So if you are looking for one of the best small business accounting software with payroll, Xero is worth your consideration. Powered with cloud-technology, it delivers all the right tools that save your time and help grow your business.
- Integrate your inventory, invoices, expenses, and other data with 800+ third-party apps
- Take a real-time view of your cash flow and financials by accessing your data from Mac, PC, or smartphone
- Get notified automatically when your customers open invoices
- Support for multiple tax rates and currencies
- Instant bank reconciliation within just one click
- Provide access to unlimited users, and make the best use of unlimited transaction features
- Handle inventory speedily through fast-track sale and purchase system
Xero comes with the following price packages:
- Free Trial – experience the best of free small business accounting software for 30 days
- Early – at $6.75/month, manage up to 5 invoices, 5 quotes, and 5 bills, reconcile up to 20 bank records
- Growing – at $22.50/month, manage unlimited invoices, quotes, bills, and bank reconciliations
- Established – at $45/month, same as Growing, with multi-currency, expenses, and project management
- Add-on: Third-party payroll integration is offered by Gusto at a $39/month base + $6/month per person
Looking for some SaaSy inspiration? Check out these top SaaS lessons that Dropbox teaches you.
So far we have discussed cloud-based apps, this entry makes way for web-based small business software. Best suited for entrepreneurs, self-employed, consultants, and of course, small/medium-sized businesses, Wave saves everyone who’s on a tight budget.
If your business is just taking baby-steps, then Wave can help you figure out what suits you best and what doesn’t without breaking your bank. As many accounting software services offer a free trial, Wave remains free.
With powerful reporting features, integrations, and round-the-clock accessibility, Wave proves itself as the viable option for anyone looking for a free small business accounting software.
- Unlimited credit card connections, income/expense tracking, and guest collaborators
- Unlimited receipt scanning with the offline receipt capture feature
- Automatically record receipts as accounting transactions
- Process multiple business profiles with just one account
- Perform business reporting, use multiple currencies, and integrate the payroll system
- Access accounting data from anywhere using free iOS and Android apps
- Integrate with PayPal, Shoeboxed, and Etsy
None – free accounting software for small businesses with complete features. The only time Wave will charge you is when they impose a dispute fee ($15), or a return of item fee ($5).
5. Sage 50cloud
Sage 50cloud is designed for small and medium enterprises that come with powerful compliance and tracking features. It provides a variety of functions, such as taxing, inventory, budgeting, and more.
You can also use add-ons for credit card processing, payroll, etc. This application is best suited if you or your business are Microsoft users, as it allows integration, as well as data sync in Outlook, and access to mobile devices.
The original version of this product was branded as “Peachtree Accounting”. It might sound like nostalgia if you are a veteran accounting software user, as Peachtree was a big name back in the old days. Furthermore, Peachtree was among the first software ever introduced for a computer. With years and years of development, you can be sure that Sage 50cloud is a highly mature and stable product.
- Ensure compliance with GAAC, CCPA, small business tax, and more.
- Create automated bank feeds and efficiently track income and expenses
- One-click reports to visualize your business’ standing instantly
- Allow multiple users to collaborate as a team
- Convert estimates and proposals into invoices and sales orders
- Get detailed tracking updates on inventory information
- Control and improve cash flow through specially designed cash flow management feature
Sage offers the following monthly-billed price packages, with up to 50% off on annual billings:
- Free Trial – get a 30-day free business accounting software and later upgrade to your desired package
- Pro Accounting – at $50.58 per user/month, available for 1 user, hence best suited for entrepreneurs
- Premium Accounting – at $78.21 per user/month, supports up to 5 users
- Quantum Accounting – at $197.55 per 3 users/month, supports up to 40 users
6. Zoho Books
Zoho offers a massive product-line of SaaS applications. It is widely known for its Zoho CRM software. One of Zoho’s popular products is Zoho Books. So if you’re already using a Zoho product in your team, Zoho Books should be a go-to choice for your back-office accounting as it will offer seamless integration possibilities with other apps in the Zoho cloud suite.
Having already made its mark in the software industry, the Zoho group paved way for Zoho Books to join the league of the best small business accounting software. This application helps grow your business by providing a comprehensive range of solutions from general accounting to payroll maintenance, from tracking expenses, to sending invoices, with super-rich feature sets at attractive prices.
- Integrate Zoho Books with famous apps, like PayPal, Square, Dropbox, etc.
- Receive updates when a client responds to any requests or makes payments.
- Provide access to your clients by sending copies of invoices, estimates, and project details via the portal.
- Bulk payments are just one-click away.
- Quote clients through automated processes to amplify estimate approvals.
- Share any positive client feedback about your business on social media.
- Enable clients to print and download past transactions
Zoho Books offers the following pricing plan billed monthly:
- Basic – at $9/month, allows for up to 50 client connections, 2 users, and 5 automated workflows
- Standard – at $19/month, allows for up to 500 client connections, 3 users, and 10 automated workflows
- Professional – at $29/month, allows for more than 500 client connections, 10 users, and 10 automated workflows
Note that if you bill annually, you get 2 months off!
Add-ons: Include $2/month for an additional user, and $5/month for 50 auto-scans in a month.
You must have heard of Go Daddy if you have ever purchased website hosting. But did you know they also offer one of the best small business accounting software for entrepreneurs who sell on Amazon, Etsy, eBay, and Paypal?
GoDaddy Bookkeeping is web-based accounting software which can also be accessed anytime, from anywhere using your iOS or Android device. It quickly gained popularity thanks to its all-inclusive bookkeeping depth and intuitive features that allow you to manage and track your online sales and other financials.
GoDaddy Bookkeeping is specially-built for entrepreneurs, self-employed individuals, and freelancers to help them provide an estimate of their tax payables.
- Manage bookkeeping with no prior accounting knowledge
- Extensive freelance tax support
- In-depth financial reporting features tools to calculate your revenue or create tax reports
- Automatically process invoices, and send reminders when they are due
- Accept payments via credit and debit cards directly from your smartphone
- Add receipts, edit your invoices, or take a quick-look at invoices due for the current period
- Avoid adding personal transactions from getting included in reports and totals by easily removing them from your record
Go Daddy Bookkeeping offers the following pricing packages:
- Get Paid – at $4.99/month, best for accepting credit card payments via invoices, create business reports for the current year only
- Essentials – at $9.99/month, lets you automatically import sales data, creates unlimited business reports
- Premium – at $14.99/month, supports recurring invoices, creates unlimited business reports
Increase security and prevent unauthorized access to all your SaaS apps by using a secure online password manager.
Kashoo is cloud-based accounting software specifically designed for freelancers, small business owners, entrepreneurs, and not just accountants. Ever since its inception in 2008, Kashoo has received positive customer reviews mainly appreciating the simple user-interface of Kashoo. It is designed in such a way that even a person without an accounting degree can perform their bookkeeping.
For businesses needing a payroll system, Kashoo provides integration with SurePayroll, which surely makes it one of the best accounting software for small businesses. Other great features allow users to keep an eye on their financials, handle invoices, manage expenses, perform bank reconciliation, and much more.
- Set up and organize credit card payments in minutes
- Make smart business decisions through one-click financial reports
- Ability to sync 5000+ bank data feeds for bank reconciliation purposes
- Support for multiple currency rates that save time from manually calculating daily exchange rates
- Quickly enter recurring invoices using pre-built templates
- Create and print client statements, and e-mail invoices directly from Kashoo
- Supports multiple users at no extra charge
Kashoo offers a free trial and a premium pricing package:
- Free Trial – no charges for the first 14 days, after that the trial period upgrades to Premium version
- Premium – at 19.95/month, all features included
If your business is using SalesForce, then Accounting Seed is must-have accounting software. This is a native-SalesForce app that helps businesses by combining the power of accounting and ERP.
Accounting Seed comes with three core components, i.e., general ledger, ERP, and project accounting. Moreover, you can handle inventory management, payroll, order management, and much more, all within just one platform.
Best-suited for advanced users, Accounting Seed ultimately becomes your complete-package back office. Not only it caters to your accounting needs but it also syncs with other departments such as production, marketing, and sales.
- Wide range of editable invoice formats and financial report layouts
- Easily configure deferred revenue/expense
- Schedule General Ledger transactions by project
- Perform managerial accounting, including labor costing, material costing, and work breakdown structure
- Forecast project profitability against multiple budgets
- Supports PSA management and Contract management
- Use ERP function, such as planned resource allocations per project by hour
Accounting Seed’s pricing is based on customized quotations, contact sales for an inquiry.
If you are an Oracle user, then Tipalti is a great choice as it integrates well with the Oracle NetSuite platform. With that said, Tipalti is suitable for any type of user, whether freelancers or large enterprises.
Tipalti provides all the right tools needed to handle your day-to-day Accounting Payable process. This product is designed to cut down all the slack and redundant manual work so that business owners can spend more time tracing important financial figures rather than spending time entering a bulk amount of data.
- Provides full compliance with American and international taxation standards
- A simplified payment process with easy payment acceptance
- Reduce dependency on email about payment status as all information is available on the web portal
- Fast-track supplier payment workflows and automate invoice collection
- Integrate with Oracle, Xero, CAKE, Paypal, Quickbooks, and more.
- Wide range of global payment methods and multi-currency support
- Ability to schedule payments and provide early discounts
Tipalti offers the following pricing packages:
- Express – at $299/month, best suited for small and medium-sized business
- Pro – at $699/month, suitable for small businesses, as well as corporations, as this is a mid-tier package
- Elite – at $1599/month, best suited for large corporations
KashFlow is an accounting solution that caters to businesses of all sizes. It is cloud-based and simple payroll software, designed specifically to liberate small business owners from complex payroll requirements.
KashFlow is ideal for UK businesses in search of VAT support and unlimited users. Jargon-free and perfect for non-accountants, KashFlow aims to take away the stress of payroll enabling you to focus on growing your business.
The software was created in 2005 with quite the backstory. Duane Jackson, the founder of KashFlow, is a self-taught programmer who ended up in jail for drug trafficking. After his release, he turned his life around and made a career for himself as a successful software developer.
- KashFlow’s invoicing capability is as robust as it is versatile. Invoices can be customized and edited, even sent automatically. It comes with email push notifications telling you if they’ve already been paid or when they become overdue.
- Bank accounts can be linked with KashFlow for faster, easier, and more accurate financial transaction monitoring and processing.
- KashFlow comes with built-in integration with various credit card processing services, which enable virtual terminals within KashFlow.
- With KashFlow, quotes creation can be done within minutes, and there’s no limit to the number of quotes users are allowed to create.
- Integrates with Payroll, Dropbox, Google Contacts, and more.
- Automatic reminders and chasing/reminder letters as well as Banking-style level of account security.
- Managing customers and suppliers has been made easier with KashFlow, saving you time and money. You can produce on-screen, as CSV files, or as PDFs to attach to emails for your customers, increasing customer satisfaction levels.
- Reporting is among the areas where KashFlow shines. The tool offers profit and loss, balance sheet, and other graphical reports.
KashFlow comes with the following price packages:
- Trial – experience the best small business accounting software free for 14 days.
- Stater – at $9.60 per month + VAT, Ideal for sole traders, contractors, and small businesses. With this plan, you can send unlimited quotes & 10 invoices, Reconcile up to 25 bank transactions. Also offers single user, manage and submit VAT online, and Bank Feeds. Get paid faster with KashFlow Payments, free mobile app, Access to over 50 reports. Not only this but, customizable dashboard, Manage purchases & expenses, Track Mileage.
- Business – at $19.79 per month + VAT, Ideal for growing businesses, and limited companies. It offers everything in starter plan plus features such as multi-currency, repeat invoices & purchases.
- Business+Payroll – at $26.98 per month + VAT, same great business package features with added payroll. This plan comes with everything in the business plan plus payroll up to 5 employees, and an automatic Enrolment module available as an add-on.
Reckon offers a wide range of business accounting products and packages for companies of all kinds of sizes, from sole traders to large businesses. It is a complete business management software suite designed for small businesses and sole traders.
Professional accountants and bookkeepers can use Reckon APS, a practice management software, Reckon Docs for business paperwork such as company registration, compliance, SMSFs, and employment contracts, and Reckon Elite for a complete tax, compliance, and practice management package.
SmartVault (for Reckon Accounts) offers a cloud drive with security and productivity features designed for businesses, while Virtual Cabinet is a document management system that adds the ability to send and approve files with clients online.
Reckon Loans offers business loans, while Point of Sale is unsurprisingly a sales management program.
The Reckon app gives you access to the below features:
- You can see cash flow in real-time with unlimited bank reconciliations.
- The software offers budgeting, GST & BAS reports.
- Free 24/7 Reckon support system is available and the data is stored in Australia on AWS servers.
- Multi-layered data security and SSL encryption
- Automatic data backups as well as 20+ reports to generate.
- Share your data with your accountant or bookkeeper.
- Import your bank statements, then categorize unlimited transactions
Unlike many other online accounting software platforms, Reckon doesn’t come as a set of tiered packages. Instead, the company offers a basics plan, with a range of add-on features to choose from for a few extra dollars per month.
- Trial – experience free business accounting software for 30 days.
- Basic – at $7 per month. This plan is for those just starting.
- Lite – at $17 per month, for scaling up your business.
- Medium – at $24 per month, taking it to the next level with payroll.
- Advanced – at $36 per month, acing it with the whole package.
Add-on modules are categorized as above and are charged as an additional cost on top of the $7 monthly Basic plan.
FreeAgent is among the best accounting software for small business owners and freelancers. It is especially suited for service- and project-based businesses.
It’s cloud-based, so you can access it from anywhere on the go. Like the best accounting software, it comes with mobile apps for Apple and Android devices.
FreeAgent is built to simplify accounting for non-accountants, enabling users to see financial operations in real-time and determine the factors that improve the relationship of people and businesses with their finances.
Employed by more than 35,000 small businesses and freelancers in over 80 countries, FreeAgent is becoming a top financial management platform many people find user-friendly and efficient when it comes to managing their books and performing finance-related tasks such as invoicing.
- The software has a timer, letting you track the time you spend on a client project and create accurate time slips that you can then add to invoices with just a few clicks. It also tracks expenses, which you can invoice as well.
- You can connect your bank, credit card, and PayPal accounts to the software, and your transactions are automatically downloaded each day, saving you the time of manually importing them.
- FreeAgent’s smart reconciliation tool, called Guess, predicts which of your bank transactions match with those you’ve created using the software.
- You can run both detailed and high-level financial reports, including aged receivables, customer sales, balance sheets, and profit and loss reports.
- FreeAgent helps you keep estimates, invoices, and payments for a project in one place. It also helps you manage time and monetary budgets, track time against project tasks, and track billable expenses.
- You can change the look of your estimates and invoices by changing the theme from the invoice screen or the settings screen.
- FreeAgent integrates with PayPal and Stripe, and you can set up your account to allow your customers to pay their invoices online with a credit card, which helps you get paid faster.
- You can set up the software to automatically send your customers a thank-you email after you receive their payments.
FreeAgent offers a great deal for your small business. FreeAgent’s paid plans place no usage limits; you can have as many users, clients, and projects as you want, at no extra cost.
- Trial – experience the best of free small business accounting software for 30 days.
- Sole Trader – at $11.26 per month + VAT for 6 months, then just $22.52 per month + VAT. Includes self-assessment filing.
- Partnership/ LLP – at $14.23 per month + VAT for 6 months, then just $ 28.45 per month + VAT. Includes profit share calculation.
- Limited Company – at $17.19 per month + VAT for 6 months, then just $34.38 per month + VAT. Includes self-assessment filing, dividend vouchers, and corporation tax forecasting.
Bench is the online bookkeeping platform for small business owners. Each month, Bench automatically gathers transaction data from all connected business accounts. Then, a dedicated team of bookkeepers ensures books are tax-ready.
Together with a robust set of accounting tools, Bench Accounting designates a team of dedicated professional bookkeepers to each of their clients. Through its service, their clients can focus more on the business side of matters, given that accounting and bookkeeping needs are taken care of.
With books up-to-date, users can access the Bench iPhone or desktop app to monitor cash-flow and financial health with intuitive expense reports, income statements, and more.
Users can also send the Bench team a text in the message feed, and they respond within one business day. And at tax time, Bench delivers a package with everything needed to get filed.
- Through the software, users can share and upload spreadsheets, transaction documents, receipts.
- Bench expert bookkeepers help users with the categorization of their transactions, reconciling statements from their bank, credit card, and PayPal accounts, ensuring that every clients’ book is accurate.
- Bench bookkeepers also perform receipt management where they attach receipts to the corresponding transactions within the accounting system. All bookkeepers are mandated to ensure that all receipts are accounted for, to generate a complete and spotless record.
- Bench Accounting integrates with third-party apps like Stripe, Square, Shopify, and Freshbooks.
- Bench also connects its clients to tax professionals. It can offer complete CPA support, and catch-up bookkeeping (long-overdue accounts).
- When you need to communicate with your bookkeeping team, the Bench app will instantly connect you with your experts. You can receive and send messages and get notified instantly when developments arise.
- Bench Accounting is connected to all major banks and popular payment gateways. That said, the software boasts of 256-bit encryption to keep all your financial information safe and far from the reach of hackers, unauthorized personnel, leaks, and breaches.
It offers five expense-based service packages with clients having the option to choose between an annual or monthly billing. Bench also offers a free trial.
|Plan||Average Monthly Expenses||Cost Per Month|
|Micro||$1,000 to $7,500||$159|
|Boutique||$7,501 to $25,000||$179|
|Venture||$25,001 to $50,000||$219|
|Corporate||$50,001 to $1 million||$299 and up|
All Bench plans include up to a max of 15 financial accounts. If you have more accounts, you’ll need to contact Bench for custom pricing.
The prices listed above are what you’ll be charged if you prepay annually. There’s an approximately 15% to 30% bump in cost if you pay month-to-month.
The good news is that even if you sign up and prepay for a year, you can cancel your account at any time and receive a prorated refund for any months left in the year.
BigTime offers a fully integrated time and billing software to help professionals, businesses, and even government contractors optimize their client-billing and invoicing processes.
It aims to address with its all-in-one software solution designed to make billing and invoicing easier, faster, and error-free.
BigTime gives your entire team the tools they need to deliver billable work on time and budget, giving our customers an average improvement of 25% in gross margins and a substantial increase in expansion and referral revenue.
With BigTime, you can take care of both major and minor time and billing needs from time and expense tracking, DCAA timekeeping, project budgets, etc. to provide your clients with an accurate and well-documented invoice on time.
- BigTime mobile app allows you to keep track of and document all necessary information (time, expenses, etc.) on the go and even without an internet connection.
- BigTime’s mobile timesheet provides a user-friendly interface with a one-tap timer feature for effortless, one-handed monitoring of hours your clients are supposed to be billed.
- You can track all types of expenses from mileage, purchases, etc. directly on your smartphone. Keep documents, such as physical receipts and documents by taking photos of them and attaching the images to your digital expense report.
- With BigTime, you can set up your billing rates per project task, staff, work codes, and more. You can also set a base rate and a maximum of 5 billing rates whether per staff member or activity/task or both.
- Choose from the templates available and use the template editor to customize your invoice according to your and your clients’ preferences. With BigTime’s template editor, you can personalize your invoice with your company logo and information.
- DCAA timekeeping feature helps government contractors stay compliant with DCAA requirements. With this feature, you can set up time log sheets in the approved DCAA format.
- Get all data and analytics you need in just a few clicks and export them in the format you prefer (PDF, Word, XLS). In the app, you can customize your reports using in-app tools to set up filters, search options, and more.
BigTime offers perfect plans for every firm. Following are the plans the platform offers, each of which come with a minimum 5-person package:
- Express – at $10 per month per user. Minimum of 5 users, unlimited clients, and transactions. Time tracking made for professional service firms, mobile access from your smartphone, tablet, or PC with auto-sync, QuickBooks integration (online/desktop), a dashboard to visualize key metrics, daily or weekly timesheet views along with unlimited timers, and much more.
- Pro – at $30 per month per user. Offers budget tracking, expense tracking, and Gantt charts, unlimited user-defined invoice types, unlimited sub-tasks with a budget roll-up, invoice template editor, and much more.
- Premier – at $40 per month per user. Offers resource allocation, revenue projections, and variable cost rates, multi-level approval workflow, Salesforce/Slack integration, unlimited API access, extended support hours, priority support queue, uptime guarantees (SLA), and more.
Founded in 2007, Crunch is a cloud-based accounting solution designed for small businesses, startups, contractors, and freelancers. It is available only in the United Kingdom. Crunch allows for up to ten users per organization.
Crunch puts freelancers, contractors and small businesses in control of their finances with expert accredited accountants and beautifully simple online software.
This online accounting software takes care of your bookkeeping, leaving you to spend more time growing your business. You’ll also get your Client Manager to get you up and running in no time, along with unlimited access to accredited accountants.
Crunch support includes FAQs, a forum, a knowledge base, online support, phone support, and video tutorials. It also provides unlimited support from dedicated client managers and a team of accountants.
- Crunch allows users to send invoices, record expenses, and view their finances anywhere, anytime.
- The software can file VAT returns and corporate taxes on behalf of users and also helps in preparing annual returns and self-assessments.
- The built-in payroll feature allows users to pay yourself and staff and issue payslips.
- This online Accounting system offers tax management, billing & invoicing, bank reconciliation, billing portal, and customizable invoices in one place.
- This software comes with a purchase order feature.
- With Crunch, you can contact the database, and the project billing feature is also on the go.
- Crunch also offers hourly billing, billing portal, contingency billing, and subscription billing. Moreover, it can also calculate tax.
Crunch offers the following pricing plans:
- Sole Trader – it starts from $34.98+VAT per month. This plan comes with real-time accountancy software and HMRC registration. Moreover, offers unlimited accountancy support as well as self-assessment submission.
- Limited Company – it starts from $84.79+VAT per month. This plan lets you build your ltd package. It offers everything in sole trader added with companies’ house filing, IR35 advice, and solutions.
- Small Business – It starts from $232.94+VAT per month. It comes with your dedicated accountant and your dedicated bookkeeper. Moreover, it offers payroll for directors and employees. Not only this, but it also provides face-to-face video meetings and accountancy health checks.
Crunch offers a flat monthly fee as well as great value packages for more complex accounts.
Pandle is easy, efficient, and free accounting software for small businesses. It has interactive help that lets you know if you are making erroneous entries.
It manually checks your data to make sure it’s accurate. Pandle has a neat, visually beautiful interface coupled with advanced accounting features, making it one of the best accounting software for small businesses with payroll.
It is also one of the easiest cloud accounting software on the market. It uses different terminology for novice and advanced users. Pandle targets small businesses that have little or no bookkeeping experience but are looking for a double-entry system that they can use and understand.
The platform helps streamline accounting activities including invoicing, quotations, and receipt uploads, payroll services, and tax estimations.
- Sync your bank accounts with Pandle to automatically import your transactions. Then, simply categorize each transaction to effortlessly keep your accounts up to date.
- Pandle offers a range of additional accounting tools, to make your bookkeeping as quick and easy as possible.
- With Pandle’s range of reporting tools, you will always know where your business stands financially. Allowing you to make more informed business decisions.
- Pandle can quickly produce a variety of sales tax reports, leaving you more time spend doing what you love – running your business
- Pandle you can easily add new users to your account.
- Worried about what will happen to your data if you ever decide to leave? Well, you shouldn’t be! You can access your data for up to six years if you ever leave Pandle.
- All communication with Pandle servers is done via a secure HTTPS connection (128-bit SSL), the same technology used by your bank to encrypt communications with their website.
- Other features include inventory tracking, time tracking, project management tools, transaction locking, and bulk editing.
Pandle offers the following pricing plans:
- Free – Create quotes, customer statements, and invoices with logo upload. Moreover, Import customers/suppliers, payment reminders, and recurring transactions. Added with customer grouping, bank, and custom imports. Not only this, but it also offers unlimited customers, suppliers & bank accounts, and much more.
- Pro – at $7 per month. Under this plan, you get everything in Pandle free plan added with bank feeds, receipt uploads, and cash flow forecasting. Moreover, allows unlimited users, multi-company management, PayPal feeds, and more.
If you are seeking a scalable, customizable accounting system with a full range of applications, Open Systems Accounting Software (OSAS) may be the ideal solution for you. This highly flexible, simple to use business management, accounting, and e-Commerce system can improve your business practices and help you achieve your goals.
The Open Systems portfolio of business software readies your company for growth and creates business value. Whether you have outgrown your current solution or your system doesn’t give you the functionality your business needs to reach the next level, you need a flexible ERP system.
Gathering all of your financial information in one place has never been easier with accounting software and business management solutions from Open Systems. You can import all of your current financial and tax information into the system and begin tracking your income and expenses immediately.
Whether your business is established or you are expanding, your Open Systems solution can be up running easily and quickly, helping you make more informed buying and selling decisions, improve customer service, save money, and ensure profitability into the future.
- A powerful, integrated system that is easy to customize, learn, and use.
- Operates on Windows, Novell, UNIX, Linux, Sun Solaris, UnixWare, AIX, and Mac systems.
- Open source code for complete customization to the way your company operates.
- Innovative alert system to identify critical information.
- Fully compatible with all Microsoft Office applications.
- Mix and match character-based and graphical (GUI) workstations.
- Fast information lookups through pre-defined inquiry windows.
- Numerous third-party vertical applications for increased functionality.
- A streamlined interface, additional inquiry functions, and drill-down capabilities simplify your work.
- New auditing features and data encryption options ensure that your data is more secure than ever.
The pricing is not available publically and can be attained via inquiry.
19. Clear Books
Clear Books Accounting Software is an online accounting system for small businesses. It has been developed to guide the user through day to day accounting and bookkeeping tasks and provide access to client accounts anytime and from anywhere with an Internet connection.
Everyone wants accurate, clear accounting, and for some, Clear Books may be the answer. This UK-based company has been around since 2008 and has been growing ever since. For UK users, Clear Books is the whole package.
Strong accounting, VAT support, unlimited users, and HMRC compliance make the software a great choice for UK small businesses.
In true British fashion, many users say Clear Books “does what it says on the tin.” It offers invoicing, project management, contact management, expense claims, and more. The company also provides ample support options and just introduced a free plan.
- With Clear Books, users can create professional invoices for customers and tailor invoices with the company logo and organization details.
- Clear Books also provides the tools to automate invoicing and aims to save time by allowing users to set up recurring invoices to automatically create invoices.
- Late payment reminders can be sent to automatically chase overdue debts. Accountants can set up automatic email reminders to notify customers who have overdue invoices.
- Invoices can be created within the Clear Books app and they can be viewed as HTML or saved as pdf to send to clients electronically.
- Businesses can export their invoice data to view in a spreadsheet such as Microsoft Excel, and it’s possible to keep customers up to date with what they owe by sending customer email statements.
- With Clear Books, customers will gain access to a full list of their unpaid and paid invoices.
- Other features include; employee self-service management, expense management, HR, payroll, and much more.
Clear Books offers two paid pricing plans, as well as a new free plan. There is a free 30-day trial of both paid plans. No credit card information is required. Subscriptions are paid monthly, and you can cancel your account at any time.
- Micro – this plan is free of cost. You get to enter sales, bills, and expenses in this plan. Moreover, offers a bank transaction list and basic VAT support.
- Small – at $5.93 per month for the first three months. In this plan, you get access to features like invoicing, estimates, contact management, and banking. Provides bill and project management along with time tracking, dividends, unlimited users, and much more.
- Large – at $13.63 per month, for the first three months. In this plan, you get everything in a small plan added with VAT support, MTD compliance, Construction Industry Scheme (CIS), and multi-currency support.
Clear Books charges extra for payroll support. For two employees, the cost is $6.40 per month; for three or more employees, it’s $3.20 per month per employee.
The prices listed above do not include VAT. Clear Books charges VAT to all users, including those outsides of the UK.
AvidXchange is a comprehensive account payable and bill payment solution trusted by over 5,000 B2B companies across the United States. Created to eliminate paper invoices, automate lengthy payment processes, as well as reduce processing costs, this software is equipped with a full suite of tools as well as a highly configurable interface.
With this platform, businesses from different industries ranging from real estate to finance can easily enjoy a personalized user experience that meshes well with their existing operational processes.
The platform currently consists of different modules that handle tasks involved in bill payments and accounts payable management. It includes a purchase order application, invoice application, and payment application. By leveraging these three functions, users can automate their purchase-to-pay process with electronic invoice capture, automated payments, and intelligent approvals.
- AvidXchange’s purchase order software is a web-based solution that allows users to create official orders for goods or services to speed up the buying process
- When it comes time to settle upon those invoices, AvidXchange offers two different methods of payment. The first method is to select the invoices you wish to pay in your invoice management software and route them through AvidXchange’s e-payment application.
- Validate the accuracy of start and end date continuity.
- Detect missing and out of cycle bills.
- Check meter reading continuity for billing accuracy.
- Monitor consumption variances and issue alerts for irregularities.
- Monitor rate variances and issue alerts for irregularities.
The price of AvidXchange is entirely quote-based and depends on the services you need, the size of your business, and the nature of your business. It works to create a tailored accounts payable solution for every business based on its specific needs.
A free trial is available. It covers features like; purchase order application, bill services, invoice application, payment application, pay services, and more.
Kiwili is a Canadian online ERP and accounting management software that fits the needs of the self-employed and small businesses. It offers a complete all-in-one solution to better organize your business and manage your finances. User-friendly and intuitive, this software was built to simplify the lives of business owners.
The platform is unknown to be the best business accounting software. Kiwili’s solution lets you track your expenses, bill your clients, create personalized invoices for your services, organize your projects, and manage your customer relationship, all in one place!
- Kiwili allows you to create numerous projects.
- Within the projects, multiple tasks can be created and assigned to the designated members of the team. All this can be done from within Kiwili’s impressive dashboard.
- As the team members work on the tasks, Kiwili tracks the time spent on each task. This time is used to bill the clients.
- Time is viewable by everyone. It includes the clients who might appreciate and acknowledge that they are being billed accurately.
- Invoicing is another one of Kiwili’s important features. Not only can you create an invoice using the application, but you can also deliver it to the client through the same interface.
- The invoice status is viewable at all times, such as ‘issued’, ‘delivered’, or ‘paid’. Furthermore, recurring invoices can also be automatically issued to the client using your custom settings.
- A report can be generated to summarize results in a single file. Kiwili allows for the creation of detailed and in-depth reports with custom fields selected by the user.
- Automatic reports can be generated monthly, quarterly, yearly, or for any other duration. You can create a report to satisfy your every need.
Kiwili has several pricing options. You can save 10% on annual payments.
- Free – Remarkably, the application can be used for free, but with limited features. The free version allows, at maximum, 1 user, 3 clients, and 3 projects.
- Standard – at $14.95/month. This plan allows 1 user and online files. Offers storage of 5GB, invoices, estimates, and more
- Pro – at $29.95/month. This plan allows 1user, $5 is charged for per additional user. This plan offers everything in the standard plan added with 10 GB storage
- Business – at $74.95/month. It allows up to 10 users, $5 is charged per additional user. This plan offers everything in the pro plan added with 50GB of storage. It comes with a more advanced management system such as cash-flow management, advanced reports, and more
- Custom – quote based – for businesses with larger needs, Kiwili offers a custom plan. That includes all features; personalized software training, business process analysis, and assistance with implementation and migration. Moreover, a dedicated account manager and custom modules.
22. Easy Accountax
Easy Accountax is feature-rich cloud-based accounting software. It provides accounting professionals and small businesses the functionalities they need to streamline their accounting processes.
The platform helps to achieve total visibility into their finances, and real-time status of their accounts receivables, payable, incomes, expenses, losses, and more.
With Easy Accountax, creating and sending invoices is a breeze. You can also use your mobile device to record bills and scan receipts. All essential accounting reports are generated automatically and within reach.
Easy Accountax allows your clients and your employees to work in collaboration with each other regardless of their location. As the software is based in the cloud, accountants and their clients can come together and go over the details of their income, losses, expenses, and more from just about anywhere.
- Data security is topnotch. Easy Accountax is hosted in the cloud. All information processed and stored within the system is placed in an ISO-accredited data center located in the UK. Easy Accountax utilizes SSL encryption to guarantee ultimate data security.
- The software offers budgeting, email, and banking integration.
- Easy Accountax comes with inventory and financial management systems.
- The software supports multi-currency, multi-location, multi-user login & roll-based access.
- Easy Accountax also offers invoice, HR & payroll management.
- Task management and taxation management is not a big deal for Easy Accountax.
- Other features include; online document storage, product database, time tracking, and many more.
With Easy Accountax, you can cancel your plan at any time with one month’s notice. The platform also offers a free trial.
- Starter – $8 per month. Provided with 2 users, sells 50 invoices, and process 50 bills. This plan includes customer relationship management, inventory, tax return, and file storage of 1GB.
- Intermediate – at $12 per month. Provided with 5 users, sells 200 invoices, and process 200 bills. It offers everything in the starter plan added with file storage of 2GB. As well as quotes/purchase order, multi-currency, human resource management (HRM), and Payroll.
- Professional – at $20 per month. There is an offer going on currently if you register now you can get this plan for $15 per month. Includes unlimited; users, invoices, and bills. Moreover, everything in the intermediate plan added with auto bank feed, tax return, and file storage of 5GB.
VersAccounts Cloud ERP is a robust ERP platform that turns your small business into a well-oiled machine. It functioning at the most optimal level by automating your processes, streamlining your tasks, and getting all facets of your business together in a single location.
With all data from your business all stored in a unified place and easily accessible, getting real-time insights is a breeze, helping you make smarter business decisions and take decisive actions whenever you have to.
Being a cloud-based solution, you and your team can access VersAccounts cloud ERP whenever and wherever. You can manage your business, keep track of your inventories, view the status of your orders, and more using your smartphone or your tablet.
- The software offers fast and easy customization options. It enables you to tailor and shape the system so it would fit right into your existing setup and integrate it into your current software.
- The software also offers accounts receivable and accounts payable systems.
- It is capable to manage cash as well as manage the fixed asset.
- The software is good at purchasing and order management. Moreover, comes with general ledger, distribution, production, and customer relationship management.
- The software also features e-commerce and multi-channel retail.
- Features like project management and advanced inventory are also there.
- Other features include; reporting, BI, document management, and third-party products and integrations.
Subscriptions to use the Versa Cloud ERP system are based on two options. It is either on the number of users needed by the customer or the customer’s trailing 12 months of revenue. Both users and revenue-based subscription plans offer unlimited access to software functionality.
Frequently Asked Questions (FAQs)
🌟 What is the Best Accounting Software for Small Businesses?
There are various types of accounting software that are available for small businesses, which have different capabilities and costs. However, some multiple variables and factors help you choose the right type of software. Two major factors are the type of industry and number of employees.
These applications help you become efficient and decrease large amounts of paperwork and enable you to stay updated in real-time with all the key financial indicators and metrics.
Nowadays, accounting software is adaptive, scalable, with easy automation options, which meet the needs of individuals to corporations.
One of the major reasons that small business is eager to use accounting software, is because the right accounting software applied helps them expand the business. It allows them to shift their focus from the number-crunching to business development. Here are our top picks:
- QuickBooks Online: Best Overall
- Xero: Best for Micro-Business Owners
- FreshBooks: Best for Service-Based Businesses
- Wave: Best Free Software
- Kashoo: Best Integration Software for small businesses.
🌟 What Accounting Software Do Most Businesses Use?
Every business has a different requirement when it comes to needs and development factors. Before selecting the right kind of accounting software, businesses should identify their accounting needs and prioritize them according to the requirements. That means everyone has to agree on the set goals.
It is also wise to set a budget and be honest about it. It is important to recognize how much you can and are willing to spend on the accounting software.
Once the budget has been decided, the research for the right software is done with ease. If the solution costs more than 25% of your budget, do not purchase it.
As you research for the perfect accounting software, make sure it has all the features that meet your business requirements. However, some of the features may be fancy but that doesn’t mean you need them, which means you may end up paying more than you need too.
When choosing the right accounting software, businesses need to ask these questions:
- How secure is your API?
- How do you ensure backup and availability of our data?
- What other costs or fees should I expect?
- Tell me about customer support. What are your hours, and how quickly should I expect to get a response if I submit an issue or a question?
- Can you tell me about a client you’ve worked with that’s similar to my business? What pain points have they experienced with your software?
🌟 Which is the Best Accounting Software?
One of the vital factors of your business is managing your finances, and applying the right accounting software can make the world of a difference. It takes a lot of planning, research, and analytical strategizing to construct a business and its operations, the best accounting software makes it easier.
Sometimes the best way to do your accounting software shopping is to read user reviews, watch tutorial videos, and evaluate each feature in detail. It is also a good idea to review the customer resources that are provided. Keep in mind, the factors such as cost, user-friendliness, and the app’s limitations.
After an in-depth analysis, we have selected the top five best accounting software for you below.
- Quickbooks: Best Accounting Software for Small Businesses Overall. Pricing starts at $7 per month.
- Freshbooks: Accounting Software for Invoicing. Pricing starts at $15 per month.
- Zoho Books: Best Accounting Software for Really Small Businesses. Pricing starts at $9 per month.
- Xero: Best for Growing Businesses. Pricing starts at $9 per month.
- Wave: Best Free Accounting Software. Free of cost.
🌟 How Can Accounting Software Help a Business?
The right accounting software can prove to be a valuable asset for a company, which helps in improving the efficiency of the department. Accounting professionals love using accounting software since it decreases their work in ten folds.
With the use of accounting software, business owners find it easier to manage financial processes, carry out financial tasks quickly and correctly.
However, this does not mean that this type of software will replace the role of accounting managers within the organization, just enhance their productivity.
Such software reduces the cumbersome task of creating financial reports and other documents or reconciling bank accounts and statements. Therefore, allowing their efficiency to increase and focus on the company’s financial status, so decision-making for business expansion can be made.
We have discussed quite an array in our exclusive list, but before you commit, make sure that you make your decision based on the key features and complete pricing package, that fits right for your business.
For those offering, you can sign up for a free trial to test all the nuts and bolts. Once you make a wise selection, you can be sure that you get relieved from all accounting related woes and take a steep flight toward growth.
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