The Best Accounting Softwares For Small Businesses

If you have a small business, you know that accounting is one of the essentials. It helps you track every account and expense, clearly understand profitability, and be prepared for taxation. It keeps tabs on your financials so you can always be in the loop.

However, we also know it's too much of a burden for small businesses to hire a large firm to manage their accounting. The best alternative would be to use cost-friendly but efficient accounting software themselves.

Here are the top five recommendations and why you should use them too:

Intuit QuickBooks Online - Best Overall (Small businesses, Non-Profits, Sole Proprietors, Corporations)

Overview: Payroll, invoicing, tax filing, tracking accounts receivable, bank reconciliation, budgeting

Pricing: With 30-day free trial EasyStart at $22 per month Essentials at $44 per month Plus at $66 per month Advanced at $140 per month

QuickBooks Intuit is by far the most popular accounting software, and for a good reason. It's recognized by small business owners thanks to its flexibility—it's easy to navigate and use!

It is well-designed with various functions such as tracking income and expenses, invoicing and sending estimates, accepting payments, managing taxes and cash flow, running reports, capturing and organizing receipts, and working with contractors for only a starting price of $7.50.

Like most business owners, you're always looking for ways to save money. But when it comes to accounting, skimping on your budget can cost you more in the long run. That's why getting any of QuickBooks plans is worth it.

Each offers more advanced features like inventory management, time tracking, additional users, and cash flow. In other words, all the upgrades you need for your growing business.

FreshBooks - Best for Businesses with Employees, Contractors, or Freelancers

Overview: Unlimited invoicing and billable clients, tracking projects and expenses, specialized features, mobile app

Pricing: With 30-day free trial and add-ons Lite at $5.70 per month Plus at $9.60 per month Premium at $18 per month

When it comes to small businesses and accounting, there are a lot of options out there. Some are a bit complex and require a lot of experience, while others are more user-friendly. FreshBooks might be the best option if you're starting. It's super easy to use, but it also has every feature that you need.

FreshBooks is also the cheapest accounting software on the list. The interface is simple but intuitive! with just a few clicks, you can add billable time and costs, customize the invoice's format, and set up recurring invoices, automatic payment reminders, and late fees.

This accounting program links to your bank, creates numerous reports, monitors time, and aids with project management. Additionally, FreshBooks enables you to offer clients the choice to pay invoices instead of cash, which expedites the payment process.

With its reminders and alerts, FreshBooks helps you stay on top of your customers' payments. You can also track when customers receive and view their invoices. This way, you can follow up with customers who haven't paid their bills yet.

Zoho Books - Best for Microbusinesses and Self-Employed Professionals

Overview: Expense reporting, online inventory, invoicing, integrations, customer support

Pricing: With a forever free plan Standard at $20 per month Professional at $30 per month Premium at $50 per month Elite at $200 per month Ultimate at $350 per month

Zoho is known for its productivity applications, but it's also one of the best choices in accounting. Zoho Books has all of the fundamental functions microbusinesses need, along with the more complex operations you will need in the future.

It also includes integrations, allowing you to keep using the program as your business expands. Zoho Books excels in flexibility, usability, and bookkeeping areas such as sales and purchases, time and project tracking, and inventory management.

Zoho Books caters to the users' needs through software and mobile applications. It even has a free version! Zoho is recognized among all accounting software for its simplicity and value.

Xero - Best for Growing Businesses and Accountants

Overview: Quotes and invoices, accept payments, pay bills, file storage, bank reconciliation, mobile app

Pricing: With 30-day free trial Starter at $17 per month Standard at $42 per month Premium at $54 per month

Although many businesses begin small, this is not always the case. If you want your accounting software to expand with your company, Xero does just that. It has the advanced features that your growing business needs.

For sales, purchases, bills and expenses, inventory, payroll, and every other significant financial component you might need, Xero has a solution for all.

Xero provides excellent reports, cutting-edge analytics, and project-tracking tools. It uses artificial intelligence to automate procedures and enhance connectivity with linked financial websites. It is one of the most accessible small business accounting software, thanks to its usability, features, integration possibilities, and advisor network.

If you're the type who wants to make the most of software or application features, Xero is the best choice for you. You might need some background in technology and accounting to use this, but it's still reasonably easy to learn and is recommended for growing businesses.

Sage Business Cloud Accounting - Best for Freelancers and Solopreneurs

Overview: Invoicing, tracking accounts receivable, automatic bank reconciliation, auto entry, inventory management

Pricing: *With 30-day free trial Start at $17 per month Standard at $39 per month Plus at $55 per month

A good accounting tool in your arsenal is essential for the self-employed, freelancers, and small business owners. After all, you must issue invoices and receive payment somehow, right? That's where Sage Business Cloud Accounting comes in. It's the perfect accounting software for individuals and small businesses, providing all the benefits you need and more.

Sage accounting has more features than the four previously mentioned on the list. Not only does Sage have all of the core cloud accounting features you would expect, but it also has French language products and support. In addition, Sage provides audit trails, free bank feeds, and unlimited users and transactions.

Final Thoughts

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