Business Accounting Software is an app that software records all transactions of the company and generates reports. These accounting tools allow you to create financial reports that will provide visibility over profits.
It will allow you to easily compare revenue and costs, as well as check the bank and loan balances. It can also predict tax liabilities. This powerful financial information will allow you to make crucial decisions.
Top 10 Accounting Software for Small Business
The majority of accounting software on the market can handle payroll. These can be integrated with the existing payment system.
1. Zoho Books
Zoho Books can be used to automate business workflows and manage finances. This online tool will simplify mundane accounting tasks. Zoho Books allows you to track payments and give customers the option to pay online.
It can be used to create and send purchase orders, upload expense receipts, track payments, and keep track of all payments. It will allow you to track inventory. You can set up rules to categorize bank transactions.
Features:
- Zoho Books features Bank Reconciliation and Recurring Transactions.
- It allows you to create custom invoices and track expenses.
Verdict: Zoho Books integrates end-to-end accounting with easy collaboration. It provides functionality for Receivables and Payables.
Price:
- 14-day Free Trial
- Basic: $9 per organization per month.
- Standard: $19 per organization per month.
- Professional: $29 per organization per month.
Also read: Top 8 Online Bookkeeping Services for 2022
2. Bonsai
Bonsai accounting software was created and designed with the unique need of freelancers and small businesses in mind.
This software is ideal for self-employed professionals and start-ups to manage their expenses with automated spend tracking. with automated tracking. It also helps that this software is capable of estimating taxes so that you can pay them off before their due date
Features:
- Financial reporting that is easy to understand.
- You can send quarterly and annual tax reminders.
- This tool allows you to track profit and loss at different times throughout the year.
- Automate imports expense from a bank with a tax-writeoff
Verdict: Bonsai accounting software is easy to use and meets the needs of small businesses. Software that can present income reports, track expenses, and send tax reminders all in one.
Price:
Bonsai has three plans, all of which are billed annually. You can also get a free trial.
- Starter plan: $17 per month
- Plan for professionals: $32/month
- Business plan: $52/month
3. FreshBooks
FreshBooks accounting software is ideal for self-employed professionals and freelancers. It can be used for Invoicing, Expenses, and Payments as well as Accounting. It can be accessed from both iOS and Android smartphones. It provides time tracking and reporting.
You and your team will be able seamlessly to collaborate on projects. FreshBooks can integrate with over 100 applications.
Features:
- Automated tracking of expenses
- It provides easy-to-use double-entry accounting.
Verdict: FreshBooks is accounting software that offers features such as Invoicing, Payments, and Expenses. FreshBooks will allow you to create professional invoices. Automatic checks and balances will ensure accuracy.
Price:
- Lite: $4.50 per month
- Plus: $7.50 per month
- Premium: $15 per month
- For more than 500 clients, you can request a quote.
4. Intuit QuickBooks
QuickBooks can be used to manage income and expenses. It offers easy-to-read reports. It can help you organize receipts and capture them. It can track sales and sales taxes.
This software will allow you to manage your cash flow. You can use it online by signing into QuickBooks or downloading the app for Windows and Mac.
Features:
- Intuit QuickBooks offers features to create invoices and accept payments.
- The premium plan allows you to estimate quarterly taxes.
Verdict: Intuit QuickBooks offers basic bookkeeping tools, automated billing features, and the functionalities to manage projects, inventory, and contractors. You will get dedicated support and deeper insights.
Price:
- Trial for 30 Days at No Charge
- The monthly price is $7.50
5. Oracle NetSuite
NetSuite is a cloud-based software solution for small businesses that includes functionalities such as ERP/Accounting and CRM, eCommerce, and PSA all possible with NetSuite. This tool is ideal for startups, established businesses, and emerging businesses. Its financial management solution offers functionality for finance, accounting, billing, and financial reporting.
Features:
- NetSuite Financial Management Solutions provide unifying business insight.
- It includes features that allow for intuitive planning, budgeting, and forecasting.
Verdict: NetSuite is a cloud-based software solution that can be used by small and large businesses. It offers financial management features such as Billing, Revenue recognition, and Financial Planning.
Price: A free product tour is offered. For pricing details, you can request a quote.
6. Wave
Wave is free financial software that can be used for Invoicing, Accounting, and Receipt scanning. It can keep track of income and expenses. It can generate financial statements for the year-end using a fully functional double-entry system.
You can use it for multiple businesses within one account. You can scan unlimited receipts with the mobile app’s receipt scanning feature.
Features:
- Wave provides data security with 256-bit SSL encryption.
- It can generate powerful reports about Overdue Invoices & Bills and Cash Flow. Profit & Loss.
Verdict: Wave software is completely free for accounting, receipt scanning, and invoicing. There are no hidden charges or limitations. Free registration is possible to get started with the software. It’s a web-based software that also offers a mobile application for Invoicing and Receipt Scanning. The mobile app is compatible with both iOS and Android devices.
Price: Free.
7. Xero
Xero online accounting software has many features, such as accepting payments, asset management, bank connections, and more. It supports Invoicing, Quotes, and Pay Bills as well as Reporting. It supports multi-currency accounting. You can attach documents like invoices, bills, and other information. to the data.
Features:
- Xero has features that allow you to accept payments, bank connections, and reconcile your bank accounts.
- It includes Advisor tools, Asset management functionalities, and a Business performance dashboard.
Verdict: This online program is perfect for small businesses. It offers all the time-saving features. It also offers an app for Android and iOS. It can help you track sales and purchases. Xero can be integrated with over 800 third-party applications.
Price:
- Starter ($20 per month)
- Standard ($30 per month)
- Premium: $40 per month
- Get a free trial
8. SlickPie
SlickPie expense management software that includes functionalities such as Invoicing, Billing, and Automated Data Entry. You can also access financial reports. The MagicBot can help you streamline expenses by pulling out receipt information and converting it to digital data.
All functions of expense management will be possible, including detailed reports and invoices.
Features:
- SlickPie offers a MagicBot, which is a tool for entering automated receipt data.
- It provides all functions for expense management.
Verdict: SlickPie’s intuitive and simple design makes it easy to use. SlickPie will make your accounting easy. You can transform your business with SlickPie’s automated transactions for recurring invoices and automatic payment reminders.
Price:
- Starter: Free
- Pro: $39.95 per month.
Also read: Top 10 Payroll Services Companies for Small Business
9. Sage 50cloud Accounting
Sage 50cloud Accounting provides a solution for accounting and invoicing. It can manage Cash flow, inventory, taxes, and other functions. It’s cloud-based and allows remote access to data. It can be used to create and send invoices and bills, record purchase orders, manage job costs, and other functions.
Features:
- Sage 50cloud Accounting provides the features for Cash flow, invoicing, Payments & Bank.
- It includes features for job costing and payroll as well as reporting.
Verdict: Sage50cloud Accounting is an intuitive application that provides plans for solopreneurs, entrepreneurs, and small businesses. It also offers industry-specific functions.
Price:
- Pro Accounting $340 per person per year
- Premium Accounting: $510/user per year.
- Quantum Accounting $842 per person per year
10. Kashoo
Kashoo accounting software has the most recent technology integrated. This software is ideal for small businesses. It is available for contractors, freelancers, digital professionals, and others.
The smart tool automatically categorizes your data to ensure compliance with IRS and CRA. You can be sure your data is protected with 256-bit SSL encryption. It will make sure that your data is regularly backed up and protected from unauthorized access.
Features:
- Kashoo has designed safeguards to guide and protect.
- Automatic categorization
Verdict: Kashoo was specifically designed for small businesses, and offers all the features they need.
Price: $16.65 per Month, 14-days Free Trial.
Last Line
We’ve tested many accounting software that is specifically designed for small businesses. We have chosen the 10 best accounting software for small businesses based on their features, scalability, and price.
