The success of your small business depends on you, the owner, maintaining track of your finances. But handling money can be difficult, especially if you’re not an accountant by profession or supported technology. Accounting software automates financial processes, saves time and resources, and helps you make informed business decisions. In this article, msiu.info will review the top 5 best accounting software for small businesses.
Contents
1. QuickBooks Online – best accounting software for small businesses
QuickBooks Online is a popular accounting software that provides an intuitive and user-friendly interface for small businesses. QuickBooks offers several price plans to fit different business sizes and budgets, starting from $25 per month. Invoicing, payment processing, spending monitoring, payroll management, and tax preparation are a few of its important functions. QuickBooks also offers integrations with over 650 third-party applications, making it highly scalable.
Pros:
- User-friendly interface
- Integration with several third-party applications
- Excellent customer support
Cons:
- Limited report customization options
- Expensive compared to some competitors
QuickBooks Online is an excellent choice for small businesses that need advanced accounting features, such as payroll management, and tax preparation. The software offers an intuitive and user-friendly interface that doesn’t require specialized accounting knowledge. QuickBooks offers several price plans to fit different business sizes and budgets, starting from $25 per month. However, it’s one of the more expensive options on this list, and its report customization options are limited.
2. Xero – best accounting software for small businesses
Xero is another popular accounting software that provides excellent value for money. A number of features are available through Xero, such as tax preparation, cost management, inventory tracking, and invoicing. One of the least expensive alternatives on this list, Xero’s pricing starts at $11 per month. Xero also offers integrations with over 800 third-party applications, making it highly scalable.
Pros:
- Affordable pricing
- User-friendly interface
- Excellent mobile app
Cons:
- Limited customization options for invoices and reports
- No built-in payroll management
Xero is an best accounting software for small businesses that need a robust accounting software at an affordable price. One of the least expensive alternatives on this list, Xero’s pricing starts at $11 per month. The product boasts a simple, approachable user interface and a top-notch mobile app. However, it lacks an integrated payroll management capability and has few customization possibilities for reports and bills.
3. FreshBooks – best accounting software for small businesses
FreshBooks is an accounting software designed specifically for freelancers and small business owners. FreshBooks offers several features, including invoicing, time tracking, expense management, and project management. FreshBooks pricing starts from $15 per month, making it an affordable option for small businesses. FreshBooks also offers integrations with over 100 third-party applications, making it scalable.
Pros:
- User-friendly interface
- Excellent mobile app
- Robust time tracking and project management features
Cons:
- Limited inventory management feature
- Limited reporting options
FreshBooks is an excellent choice for small businesses that need an all-in-one solution for project management, time tracking, and accounting. FreshBooks offers an intuitive and user-friendly interface that doesn’t require specialized accounting knowledge.
4. Wave – best accounting software for small businesses
Invoicing, payment processing, spending tracking, and reporting are just a few of the capabilities that Wave’s free accounting software provides. Wave’s pricing model is unique because the software is free to use, and the company generates revenue by charging for payment processing and payroll management services. Wave also offers integrations with several third-party applications, making it scalable.
Pros:
- Free to use
- User-friendly interface
- Excellent customer support
Cons:
- Limited features compared to some competitors
- Limited customization options for invoices
Wave is an best accounting software for small businesses that need a simple and free accounting software. The software’s pricing model is unique because it’s free to use, and the company generates revenue by charging for payment processing and payroll management services. However, Wave’s features are limited compared to some competitors, and its customization options for invoices are limited.
5. Zoho Books – best accounting software for small businesses
Zoho Books is an accounting software that offers several features, including invoicing, payment processing, expense tracking, inventory management, and reporting. Zoho Books also offers integrations with over 500 third-party applications, making it highly scalable.
Pros:
- Affordable pricing
- User-friendly interface
- Robust inventory management feature
Cons:
- Limited customization options for invoices and reports
- Limited customer support
Zoho Books is an excellent choice for small businesses that need a robust inventory management feature at an affordable price. Zoho Books offers an intuitive and user-friendly interface and several features necessary to manage your business’s finances. The software’s pricing starts from $9 per month, making it an affordable option for small businesses. However, Zoho Books’ customization options for invoices and reports are limited, and its customer support is not as robust as some competitors.
