If the last time you did accounting was at school, and now you can’t afford an accountant for your small business, then you find the next best thing. An Accounting Software for Small Businesses. If you try to find one such software online, then you will find yourself drowning. It can be hard to find accounting software for your particular needs. Therefore we bring you 19 Best Accounting Software for your Small Business.
What Accounting and Bookkeeping Software Should You Use?
You need to keep a few things in mind while searching for accounting software.
1. Know Your Needs
First, you need to prioritize your needs. Whether you want to keep inventory or track receipt and sales tax. Before you start to find a solution, try to bullet your needs. Make a list of your needs and rank them from the most needed to the least. You can be flexible but try choosing software that meets most of your needs.
2. Be Honest About your Budget
Calculate beforehand your budget for accounting software. After you have done this, it will be easier for you to narrow down your search. Ignore that software that is beyond your budget and focus on those which fit with your realm.
3. Research for Features that Meet Your Needs
You can get caught in the magical world of features. Having too many features can leave you blind. You may end up paying more for features that you are never even going to use. Your money will go to waste. Don’t get confused or overexcited, check your priority list once again and go only for those small business accounting software which have enough features to meet your needs.
4. Ask the Right Questions
You need to ask yourself some questions if your software has a sales process.
- How secure is your API?
- How do you back up system data?
- What other costs should I expect?
- Tell me about customer support. What are your hours?
- Can you tell me about any of your previous experience working with a similar client?
19 Best Small Business Accounting Software for Small Business in 2020
The following is the list of 19 best small business accounting software loved by small businesses:
1. Intuit QuickBooks Online
The first one on our list for the best accounting software for small businesses is Intuit QuickBooks Online. Developed by Intuit, a giant self-finance company, it is one of the best accounting software. It has integration with PayPal, Shopify, and Square. It offers 24/7 customer support, but it is not free of charge.
All basic plans allow you to track your income and expense, track sales and taxes, receive payments and send invoices, run estimates, and create reports according to your needs. You can also organize your receipts. If you opt for a more advanced plan, then you will get to track inventory, time, and run a full-service payroll.
Pricing: Starts at 8 dollars/month.
2. FreshBooks
The next one on our list for the best accounting software for small businesses is FreshBooks. If you are in the habit of sending out invoices and need to track time, this one is especially for you.
You can get the exact information about when a customer opened your invoice, so you don’t have to put up with excuses anymore. You can easily manage your finance and accounting from their dashboard. Their backups are done regularly, and you can even download their mobile app to keep track of your business at all times.
Pricing: Starts at 15 dollars/month.
3. Pabbly
The next one on our list for the best accounting software for small businesses is Pabbly. This is for medium-sized businesses. They provide real-time actionable metrics on your monthly payments, net revenues, and new subscription.
The best thing about Pabbly is they don’t charge you extra for the per transaction and monthly revenue generation. Pabbly supports 23+ global currencies and has payment gateways like PayPal and Stripe. You can focus on your business growth since Pabbly automates invoice creation and customer communication.
Pricing: Starts at 9 dollars/month.
4. Wave
The next one on our list for the best accounting software for small businesses is Wave. If you are a freelancer, then this might be for you. Most of their services are free and allows invoices.
All the data is synced and backed up in their cloud, so you don’t ever lose any data and always remain up to date. If your priority is inbuilt time and inventory tracking, then you should look for other software.
Pricing: Free, additional cost if you select payroll in tax services, some processing fees may apply.
5. Sage 50cloud
The next one on our list for the best accounting software for small businesses is Sage 50cloud. Sage has an inbuilt system to send invoices, track payments, and expenses and calculate your tax. Time tracking is lacking in this software, but you can opt for the payroll option, but that is an add-on. It works well for small to medium size businesses.
Pricing: Starts at 50.58 dollars/month.
6. Xero
The next one on our list for the best accounting software for small businesses is Xero. If you move around a lot for your business, then this is for you. It allows you to custom invoices, track inventory from your phone or tablet. You can sync up your bank account and accept purchase orders. If you want to use the payroll feature, then you need to use them through Xero’s partnership with Gusto.
Pricing: Starts at 9 dollars/month.
7. Zoho Books
The next one on our list for the best accounting software for small businesses is Zoho Books. Many of you might have heard of this one. It is one of the best software for small businesses. It’s easy to use, and the interface is user friendly. It offers excellent customer support. You can accept online payments using this software. You can also balance sheets and customize your dashboard. It is also simple and has an easy to read dashboard.
Pricing: Starts 9 dollars/month.
8. GoDaddy Bookkeeping
The next one on our list for the best accounting software for small businesses is GoDaddy Bookkeeping. It integrates data from your bank accounts, Amazon, eBay, and Etsy.
Using that, it creates invoices and tax estimates. If you sell at any of the above sites, GoDaddy can be the one for you, but if not and you are looking for more extensive features, then this might not be for you.
Pricing: Starts 4.99 dollars/ month.
9. Kashoo
The next one on our list for the best accounting software for small businesses is Kashoo (Weird name, we know). It’s the simplest of the simple accounting software. This is meant for micro-businesses. It offers automatic categorization and reconciliation, along with income and expense tracking.
Pricing: Starts at 19.95 dollars/month and 16.95 dollars/month if paid annually.
10. AccountEdge Pro
The next one on our list for the best accounting software for small businesses is AccountEdge Pro. If you don’t like to work on your phone, then this one is up to your alley. It provides double-entry accounting tools that you can customize yourself. It is mainly for desktop users. In addition, if you need a mobile option, it offers a cloud collaboration option that can be easily purchased.
Pricing: One-time fee of 399/dollars.
11. OneUp
The next one on our list for the best accounting software for small businesses is OneUp. Just like before, this one is also a double-entry accounting software. If your priority is pricing and managing inventory, then this is the one for you. You can sync it up with your bank account, and it will automatically validate suggested entries so that your books are done quickly and accurately.
Pricing: Starts at 9 dollars/month.
12. Tipalti
The next one on our list for the best accounting software for small businesses is Tipalti. If you are very serious about meeting deadlines, then this one is especially for you. They correct all late payments, noncompliance, and administrative overload. It makes sure you are tax compliant. It can also streamline international payments in around 190 countries.
Pricing: Available upon request.
13. OnPay
The next one on our list for the best accounting software for small businesses is OnPay. If you are looking for a payroll option and automated tax filings, then this one is for you. OnPay manages your payroll and tax filing, and they will even take responsibility for any tax filing errors committed by their software. This software can also manage compensation and health insurance.
Pricing: starts at 36 dollars/month plus an Additional 4 dollars/user.
14. NetSuite PRP
The next one on our list for the best accounting software for small businesses is NetSuite PRP. It is quite popular, and we are always growing with businesses. Their ERP helps in financial management, order management, supply chain, fulfillment, and procurement.
All these systems are integrated into a single software, streamlined with accessibility. If you expect rapid growth of your business, then this is the one for you, but you can test it yourself.
Pricing: Available upon request.
15. FreeAgent
The next one on our list for the best accounting software for small businesses is FreeAgent. If you create a lot of invoices, then this one is for you. Using this software, you can monitor the cash, track your time and receipts.
Just like the others, you can link it to your bank account and keep track of your profits and losses. It offers a 30 days free trial, so you can try it out before committing to it.
Pricing: 12 dollars/month for 6 months, then 24 dollars/month.
16. Accounting Seed
The next one on our list for the best accounting software for small businesses is Accounting Seed. Remember the first question to be asked? About the API? Well, this one offers a secure and reliable API. It can be used in your business to link critical business application and bank accounts.
It’s a cloud-based platform, which means that your data is also securely protected and backed, and you can access it anytime, anywhere. It automatically does several small tasks which otherwise you would have to do on your own. You should try this software out.
Pricing: Available upon request.
17. Sunrise by Lendio
The next one on our list for the best accounting software for small businesses is Sunrise by Lendio. This software contains several inbuilt features. Some of them are automatic bank reconciliation, tax options, invoicing, and profit and loss reports. You can link it to your bank accounts and credit or debit cards and can easily set up automatic payments.
Pricing: Free, more robust features along with the support of a bookkeeper start at 149 dollars/month.
18. Zipbooks
The next one on our list for the best accounting software for small businesses is Zipbooks. They can offer you invoicing and billing features. You can also take their help to make a financial decision. The best feature of this software is its color-coded UX. It also reduces your admin work.
Pricing: Free, More features staring at 15 dollars/month.
19. Holded
Last but not least, on our list for the best small business accounting software for small businesses is Holded. Holded offers accounting, invoicing, and inventory features. You can sync it up with your bank account, and they will manage everything, including transactions and classifying entries.
Pricing: Free, 10 dollars per month for more advanced features.
Conclusion
We hope that you have found the right small business accounting software for your small business. We tried our best to present a curated list of software for suiting every need. Hopefully, it’s been useful for you. Best of luck with all your present and future business ventures.
