Are you looking for the best accounting software for small businesses or any other sizes? Then you’ve reached the right place.
Accounting is something that is associated with any business that needs to keep track of expenses and financial plans. Doing it manually is a daunting task. Right?
But with the help of accounting software, you can manage all your accounting works with ease and spend very less time. But there are many options for accounting software on the market.
Here, I have compiled some of the best accounting software that can help you to organize your business accounting works.
Let’s get started.
7 Best Accounting Software for Small Business
1. Zoho Books
Zoho Books is an online accounting software that helps small businesses manage their finances. It is easy to use and has a wide range of features, making it a popular choice for business owners.
Key features of Zoho Books
If you’re looking for an online accounting solution that’s packed with features, Zoho Books is definitely worth considering. Here are five key features that make it stand out:
1. Online invoicing and billing: With Zoho Books, you can create and send invoices and bills online with just a few clicks. There’s no need to use paper or print anything out.
2. Automatic payments: Zoho Books can automatically process payments for you, so you don’t have to worry about manually entering data or tracking down payments.
3. Expense tracking: With Zoho Books, you can easily track your business expenses and see where your money is going. This can be helpful for tax purposes or for simply keeping an eye on your spending.
4. Financial reports: Zoho Books can generate a variety of financial reports, so you can get a clear picture of your business’s finances. This can be helpful for making decisions about where to allocate your resources.
5. Customer support: If you ever have any questions or problems with Zoho Books, you can contact customer support for assistance. They’re always happy to help.
Pros and Cons of Zoho Books
If you’re considering using Zoho Books for your business, it’s important to weigh the pros and cons to see if it’s the right fit. Here are some pros and cons of using Zoho Books:
Pro: Zoho Books is easy to use.
Pro: Zoho Books is affordable.
Pro: Zoho Books offers excellent customer support.
Con: Zoho Payroll is not included in the Zoho Books package
Con: Zoho’s other integrations need extra payment.
Con: Free plan only allows you to manage up to 1,000 invoices per year
Pricing of Zoho Books
Zoho Books is one of the most popular accounting software programs on the market. However, many users are unaware of the pricing of Zoho Books. we will give you a breakdown of the pricing of Zoho Books.
FREE – $0 | 1 user
STANDARD– $ 15/month billed annually | $20 billed monthly | 3 user
PROFESSIONAL- $ 40/month billed annually | $50 billed monthly | 5 user
PREMIUM – $ 60/month billed annually | $70 billed monthly | 10 user
ELITE – $ 120/month billed annually | $150 billed monthly | 10 user
ULTIMATE – $ 240/month billed annually | $275 billed monthly | 15 user
Zoho Books offers five different pricing plans: Standard, Professional, Premium, Elite, and Ultimate.
.
2. QuickBooks
QuickBooks is versatile accounting software used by small and medium businesses. It is user-friendly and customizable, making it a popular choice for business owners. QuickBooks can help you manage your finances, track invoices and expenses, and generate reports.
Key Features of QuickBooks
QuickBooks is a popular accounting software that offers a number of features to small businesses. Here are five key features of QuickBooks that can help your business:
1. Easy to set up and use: QuickBooks is easy to set up and use, even if you don’t have an accounting background. The software is designed to be user-friendly, so you can start tracking your finances right away.
2. Automates bookkeeping tasks: QuickBooks automates many of the tasks involved in bookkeeping, such as tracking expenses, generating invoices, and preparing reports. This can save you a lot of time and hassle.
3. Keeps track of your finances: QuickBooks helps you keep track of your finances in one place. You can see where your money is coming from and going, and track your spending so you can make informed decisions about your business finances.
4. Offers mobile app: The QuickBooks mobile app lets you access your account on the go, so you can stay on top of your finances even when you’re away from your computer.
5. Integrates with other software: QuickBooks integrates with a number of other software programs, so you can manage all your business finances in one place. This can save you time and make it easier to stay organized.
5 Pros and Cons of QuickBooks
There are many different accounting software programs on the market, but QuickBooks is one of the most popular. Here are five pros and cons of using QuickBooks for your business accounting:
PROS:
1. QuickBooks is easy to use.
2. QuickBooks can save you time.
3. QuickBooks can help you save money.
4. QuickBooks is versatile.
5. QuickBooks is widely used.
CONS:
1. QuickBooks can be expensive.
2. QuickBooks can be complex.
3. QuickBooks support can be expensive.
Pricing of QuickBooks
QuickBooks offers a few different pricing plans, depending on your needs. The most simple plan starts at $12 per month. This plan is good for businesses that don’t need a lot of features and can get by with just the basics.
If you need more features, the next tier up is the essential plan at $25 per month. This plan includes things like inventory tracking, time tracking, and advanced reporting.
The most comprehensive plan that QuickBooks offers is the plus edition plan at $40 /month. This plan includes features like advance reporting and time tracking.
For businesses that need even more features, QuickBooks offers an Advanced edition plan. This plan starts at $90 per month and includes things like custom fields, advanced pricing options, and payroll.
So, what’s the best plan for you? It really depends on your business needs. If you’re just starting out, the basic plan might be all you need. But if you’re a more established business, you might need the features offered in the higher-priced plans.
No matter what plan you choose, QuickBooks can help you save time and money on your bookkeeping.
.
3. FreshBooks
FreshBooks is a cloud-based accounting software that does just that. It’s designed to help you save time on billing and invoicing, so you can focus on running your business.
FreshBooks is simple to use and extremely user-friendly. You can create and send invoices in minutes, track your expenses, and see who’s paid and who hasn’t. You can also set up recurring payments, so your clients can pay you automatically on a schedule that works for them.
Best of all, FreshBooks offers a free trial, so you can try it out before you commit. Why not give it a try today and see how FreshBooks can help you save time and streamline your accounting?
Key features of Freshbooks
1. User-friendly interface: Freshbooks is designed with the user in mind. Everything is easy to find and use, so you can get started right away without any headaches.
2. Automatic invoicing: With Freshbooks, you can easily create and send invoices to your clients. Freshbooks will even track payments and send reminders if a client hasn’t paid yet.
3. Time tracking: Freshbooks makes it easy to track your time so you can see how much time you’re spending on each project. This is great for billing purposes and for figuring out where you can save time in the future.
4. Expense tracking: In addition to time tracking, Freshbooks also lets you track your expenses. This is helpful for staying on budget and for getting reimbursed by your client if necessary.
5. Reporting: Freshbooks offers a variety of reports that can help you track your progress and analyze your business. You can see how much money you’re making, track your expenses, and see which clients are your most profitable.
Pros and Cons of Freshbooks
There are a lot of options out there when it comes to accounting software, but Freshbooks is one of the most popular. Here are some pros and cons to help you decide if it’s the right fit for your business.
Pros:
1. Easy to Use
2. Time-Saving
3. Affordable Pricing
4. Excellent Customer Support
Cons:
1. Payroll not included with accounting service.
2. No training for software use.
3. No document management.
Pricing of Freshbooks
When it comes to pricing, Freshbooks has a few different options depending on the needs of your business.
One of the great things about Freshbooks is that it offers a variety of pricing options to suit different budgets. The software starts at just $4.50 per month for the most basic plan, which is ideal for small businesses and freelancers just starting out.
For businesses that need more features, Freshbooks offers a mid-level plan for $7.50 per month, and a top-level plan for $15 per month.
And the last one is custom pricing for specialized features. All plans come with a free 30-day trial, so you can try out the software before committing to a paid plan.
.
4. Xero
Xero is a cloud-based accounting software that helps small businesses manage their finances. With Xero, you can track your finances, invoices, and bank transactions in one place. You can also connect Xero to your bank account, credit card, and PayPal account to automatically import your financial data.
Key features of Xero
Xero is a powerful online accounting software that offers many features to help businesses manage their finances. Here are five key features of Xero that can help your business:
1. Automatic bank feeds: Xero automatically pulls in data from your bank accounts, making it easy to keep track of your finances.
2. Online invoicing: With Xero, you can create and send invoices online, making it easy to get paid quickly.
3. Mobile app: The Xero mobile app allows you to manage your finances on the go, making it convenient for busy business owners.
4. Comprehensive reporting: Xero provides detailed financial reports, giving you visibility into your business’s financial health.
5. Integration with other apps: Xero integrates with a number of popular business apps, making it easy to manage all your business finances in one place.
Pros and Cons of Xero
Xero is one of the newer ones, and it has a lot of features that appeal to small businesses. However, like any software, it has its pros and cons. Here are five of each:
Pros:
1. Xero is very user-friendly.
2. Xero integrates with a lot of other software programs.
3. Xero offers a lot of features.
4. Xero is constantly improving.
5. Xero offers great customer support.
Cons:
1. Payroll needs extra cost.
2. Xero is a fairly new software program.
Pricing of Xero
Xero is a popular choice for small businesses and startups and offers a variety of features and pricing options.
So, how much does Xero cost?
There are four main pricing plans for Xero: Early, Growing, and Established.
The cost of each plan depends on the features and number of users. Starter plans start at $12 per month, Growing plans at $35 per month, and Established plans at $65per month. There is an addon for payroll which costs $39 per month.
.
5. Wave
Wave accounting is a cloud-based accounting software that helps small businesses manage their finances. Wave offers a range of features, including invoicing, tracking expenses, and creating financial reports. Wave is easy to use and offers a free trial, making it a great option for small businesses.
Key features of Wave
Here are 5 features that make Wave a great choice:
1. Wave is free to use. That’s right, you can use Wave to manage your finances completely free of charge.
2. Wave is easy to use. You don’t need any accounting experience to get started with Wave. The software is designed to be simple and straightforward.
3. Wave integrates with your bank. This makes it easy to track your finances and avoid pesky manual data entry.
4. Wave offers great invoicing features. You can send professional invoices and even accept payments online.
5. Wave has a great support team. If you ever have any questions, they’re always happy to help.
Pros and Cons of Wave
Pros:
1. Wave is a very user-friendly accounting software.
2. Wave is a cloud-based accounting software, which means that you can access it from anywhere.
3. Wave offers a lot of features for free.
4. Wave integrates with a lot of other business software, which makes it very convenient.
5. Wave has excellent customer support. They have a knowledge base, FAQs, and even live chat support.
Cons:
1. Wave accounting can be a little overwhelming for those who have no accounting experience.
2. While Wave offers a lot of features for free, their paid plans can be quite expensive.
3. Wave integrates with a lot of other business software, but that can also be a downside.
Pricing Wave accounting
Wave offers two pricing tiers – free and paid. The free plan is pretty basic, but it’s perfect for small businesses or startups that don’t need all the bells and whistles.
Accounting, Banking, Invoicing – $0 per month.
Payroll: Tax service states a $35 USD fee + $6 per active employee + $6 per independent contractor paid.
So, is Wave’s pricing worth it? That depends on your needs. If you’re looking for a basic accounting solution, the free plan is a great option. But if you need more advanced features, the paid plan is definitely worth the price.
.
6. Sage
Sage is a cloud-based accounting software that offers a range of features to help you manage your finances. With Sage, you can easily track your income and expenses, create invoices and estimates, and manage your inventory.
Sage is a great option for small businesses and entrepreneurs who are looking for an easy-to-use accounting solution. If you’re looking for a way to simplify your financial management, Sage is definitely worth considering.
Key features of Sage
When it comes to accounting, Sage is a software that is widely used by small businesses and accounting firms. It is known for its reliability and accuracy. Here are 5 key features of Sage accounting:
1. Track Income and Expenses: Sage offers tracking of income and expenses with an easy-to-use interface. You can easily keep track of all your daily expenses.
2. Invoicing: Invoicing is another great feature like any other accounting software that helps small businesses to invoice in minutes.
3. Accurate calculations: Sage is known for its accuracy when it comes to calculations. This is important for businesses that need to keep track of their finances accurately.
4. Flexible: Sage is flexible and can be customized to suit the needs of your business.
5. Customer support: If you have any problems with the software, there is 24/7 customer support available to help you.
Pros and cons of Sage
Here’s a look at some of the key points to consider:
Pros:
1. Sage is easy to use and very user-friendly.
2. Sage offers a wide range of features and modules.
3. Best free trial on the market for 2 months.
4. Sage integrates with a number of other software applications.
5. Sage offers excellent customer support and training resources.
Cons:
1. Payroll not included after free trial.
2. Sage can be complex to set up and configure.
Overall, Sage is a powerful and comprehensive accounting solution that can be beneficial for businesses of all sizes. However, it’s important to weigh up the pros and cons to decide if it’s the right software for your needs.
Pricing of Sage
Sage has a few different options when it comes to pricing, depending on the size and needs of your business.
For small businesses, there is the Sage start, which starts at $12 per month. For medium-sized businesses, there is Sage Standard, which starts at $26 per month.
The third plan is accounting plus which costs you around $33 per month.
All these charges are after the free trial ends.
Overall, Sage accounting software is very affordable, especially compared to other options on the market. So, if you’re looking for a good deal on accounting software, Sage is definitely worth considering.
.
7. MYOB
MYOB is a cloud-based accounting software that helps businesses manage their finances. It is an easy-to-use platform that can be accessed from anywhere, anytime.
MYOB can track income and expenses, create invoices and manage inventory. It also provides users with insights and reports to help them make better business decisions.
Key features of MYOB
MYOB is a powerful accounting software that offers a range of features to help businesses manage their finances. Here are five key features of MYOB that can help your business:
1. Easily Integrate automated banking. MYOB is designed with automated banking, so you can get started quickly and efficiently manage your finances.
2. Invoices and Customer payment. Customize and send invoices, get paid through invoices using AMEX, Visa, MasterCard, or BPAY, automatically track invoices and remind customers.
3. Payroll. Payroll service is another great feature included with the paid version and helps you to pay your staff with ease.
4. Scalable. MYOB can be scaled to grow with your business, so you can continue to use it as your business expands.
5. Supportive. MYOB offers a range of support options to help you get the most out of the software and make the most of its features.
Pros and Cons of MYOB
MYOB is one of the most popular, especially in Australia. But what are the pros and cons of using MYOB? Let’s take a look.
PROS:
1. Ease of Use
One of the biggest advantages of MYOB is that it is extremely user-friendly. Even if you have no prior experience with accounting software, you should be able to pick it up relatively quickly.
2. Affordability
MYOB is also very affordable, especially when compared to some of the other options on the market. There is a range of pricing plans available, so you can find one that suits your budget.
3. Integration
MYOB can be easily integrated with a number of different business systems, which can make your life a lot easier. For example, you can connect it to your POS system, inventory management system, and more.
4. Customer Support
If you do run into any problems while using MYOB, you can rest assured that there is excellent customer support available to help you out. The team is very responsive and helpful.
5. Reporting
MYOB also offers a range of powerful reporting features, which is extremely useful for business owners and managers. You can easily track your finances, performance, and more.
Now let’s take a look at some of the cons of MYOB.
CONS:
1. Limited Functionality
One downside of MYOB is that it is not as feature-rich as some of the other options on the market. If you are looking for a lot of advanced functionality, then you may want to consider another option.
2. Complexity
MYOB can be quite complex, especially for those who are not familiar with accounting software. This can make it difficult to use, especially for novice users.
Pricing of MYOB
Here’s a quick overview of MYOB’s pricing options to help you make a decision.
MYOB Tax is only available for Australian users.
MYOB Business Lite – $ 12.00 monthly
RECOMMENDED MYOB Business Pro – $ 25.00 monthly
MYOB Business AccountRight Plus – $ 60.00 monthly
MYOB Business AccountRight Premier – $ 80.00 monthly
To decide which MYOB software plan is right for you, consider your business needs and budget. MYOB AccountRight Plus is the most comprehensive and expensive option, but it may be worth the investment if you need all the features it offers.
.
Frequently asked questions on Accounting Software
1. What is accounting software?
Accounting software is a type of software that helps businesses manage their financial affairs. This can include tasks such as tracking income and expenses, preparing invoices, and managing payroll.
2. Why do businesses need accounting software?
There are many benefits of using accounting software for businesses. It can help businesses save time and money, by automating financial tasks and providing accurate financial information. It can also help businesses to comply with financial regulations.
3. What are the most popular accounting software programs?
There are many different accounting software programs available on the market. Some of the most popular accounting software programs include Zoho Books, Xero, FreshBooks, and QuickBooks.
4. How much does accounting software cost?
The cost of accounting software can vary depending on the features and functionality that you require. Basic accounting software programs can cost as little as a few dollars per month, while more comprehensive programs can cost hundreds of dollars per month.
5. How do I choose the right accounting software for my business?
When choosing accounting software for your business, it is important to consider your specific needs and requirements. You should also compare the features and costs of different software programs before making a decision.
6. How do I install accounting software?
Most accounting software programs are online software services and hence no need to install them on your computer. However, most of these accounting softwares are built for desktop users such as Zoho, Freshbooks, etc.
7. How do I use accounting software on the desktop?
Once you have installed accounting software on your computer, you will need to set up your account. This will involve entering your business information, such as your company name, address, and contact details. Setting up your financial files, such as your income and expenses. Creating invoices and other financial documents.
8. How do I learn how to use accounting software?
Most accounting software programs come with user manuals for desktop and online resources on their official websites that will teach you how to use the program. You can also find online tutorials and video demonstrations that will show you how to use the software.
.
5 Must-have features for accounting software
When it comes to choosing accounting software for your business, there are a few must-have features that you should look for. Here are 5 of them:
1. Accurate financial reporting: This is probably the most important feature you should look for in accounting software. The reports generated by the software should be accurate and up-to-date so that you can get a clear picture of your business finances.
2. Easy to use: The accounting software you choose should be easy to use so that you don’t have to spend a lot of time training your staff on how to use it.
3. Scalability: As your business grows, your accounting software should be able to grow with you. Look for software that is scalable and can be customized to meet your changing needs.
4. Customer support: When you run into problems with your accounting software, you should be able to get prompt and helpful customer support. Make sure to check out the customer support offerings of any software you’re considering before making a purchase.
5. Security: With all the financial data that your accounting software will be storing, security is important. Look for software that has robust security features, so that you can rest assured that your data is safe.
