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15 Best Small Business Accounting Software [Ultimate Guide]

Best Small Business Accounting Software

Running a business is not an easy task. Especially when it is a small business you need to focus and check different areas. The maximum time you’re busy working and not able to get time for your family. However, small business accounting software can help to make your work easier.

Accounting software provides you with a range of benefits along with accurate accounting. This can be quite beneficial for your business in the long term. You will not only get good results but can also take out time for your family and yourself.

Accounting software has become a necessity for all businesses.

In this ultimate guide, we will look in detail at the best Small Business Accounting Software for you.

Best Small Business Accounting Software

1. ZipBooks

zipbooks-accounting-software

This is a simple accounting software that can help you to produce excellent results. It is a powerful and beautiful software that gives you a variety of tools so that you can take your business to next level and earn more.

What are the features offered?

It provides you with a wide range of features. With the help of this software, you can easily send professional invoices in seconds and get paid seamlessly with major credit cards or PayPal. It also provides you the feature of auto-billing and auto payment reminders. Thus, helping you to spend time with your family without any kind of worry.

ZipBooks offers you a smart way so that you can keep a track of accounting and transactions. You can also check how much you owe and what payments are to be made. It gives you an overall view of how much your business is making and all its profit. It enables you with various features such as accountant access, accounts receivable, bank connects, bank reconciliation, auto-categorization, charts of accounts, project accounting, and tagging.

This accounting software will provide you with feedback so that you can improve your day to day operations and work. It also assists in reminding payable taxes thus, helping you to save cost in a long term. It has features such as accounts receivable aging, balance sheet, general ledger, income statement, taxes invoice, and trial balance.

ZipBooks accounting software not only provides you accurate accounting records but also assist in bookkeeping and gives recommendations to increase your productivity. Apart from simple financial reporting, it gives actionable insights extracted from millions of data to help you improve and then produce excellent results.

It brings to you smart features to enable you to retain customers, get paid faster, and save money in a place that you might have overlooked. It brings some of the best features of accounting software such as health score, invoice quality score, and start recommendations. It helps to increase your revenue, prevent late payments, and gives you the optimal results.

Pros:

  • It provides you invoicing facility.
  • It brings to you the auto-billing feature.
  • It keeps you updated by providing automated billing reminders.
  • It has a simple reconciliation.
  • It has an auto-categorization facility.
  • It has an intuitive color-coding facility.
  • It has a smart bookkeeping facility.
  • It provides you smart features for reporting.
  • It analysis the most profitable clients.
  •  It gives you an overview of your business as compared to your rivals.
  • It helps in better management of your time.

Cons:

  • Some of the reporting features require more advancements such as there is no balance statement and no field on the income statement provided.

Plans and pricing:

  • Free version

It has a starter pack which is free for all the users. It provides you with unlimited invoices, unlimited payments and you can accept digital payments as well. It allows 1 bank account connection and you can view basic reports.

  • Smarter 

This pack is available for $15 per month. It includes all the features of the starter pack along with scheduled recurring invoices, auto bill, saves invoice line items, automates reminders, multiple bank account connections, account notification, time track, and adds 5 team members.

  • Sophisticated

This pack includes everything of the smarter pack along with smart tagging, customize categories, reconciliation of accounts, lock completed books, unlimited users, secure sharing of data, and smart reports.

  • Accountant

This includes everything in the sophisticated plan along with text, track, manage clients from one dashboard, migrate existing accounting data, and many more.


2. FreshBooks

freshbooks-accounting-software

This accounting software is a perfect choice for small business owners. It is used by more than 24 million people and is used in more than 160 countries. FreshBooks aim to reshape the works to meet the requirements of self-employed professionals and their teams.

What are the features of FreshBooks?

This accounting software provides you easy and rapid voicing facility so that you can get paid faster. It also assists you in customizing your invoices, adds your logo, and personalizes your thank you email. Thus, ensures that your clients are surely impressed by you.

It allows your clients to pay in their convenient way and ensures that you get your payment as soon as possible. With FreshBooks it enables you to get paid 11 days faster. 

With the help of this amazing accounting software, you can put your business on autopilot mode and spend time with your family.

It helps you to save your time by sending reminders to clients at customizable intervals, charges late fees, percentage, or flat rate fees. It enables you to request a deposit before starting the project with the help of an invoice facility. 

FreshBooks’ smart invoice generator brings easy tracking of your time and efforts and thus, ensures you get paid for your efforts. It helps to establish a stable cash flow with retainers and also get an overview of future workload and income.

It assists in the easy effective management of timelines, helps you to create professional reports to keep your clients updated and satisfied, and helps in streamlining your workflow.

This software brings you the facility of recurring invoicing, time tracking, project management, and reporting so that you can work more productively. It helps in easy tracking of your expenses, keeps a record of your payments, and also helps in tax policies. It has the facility of insightful time tracking and gives easy collaboration with your team members. 

Pros:

  • It helps to get paid faster.
  • It keeps a record of your payments.
  • It provides easy collaboration with the team.
  • It gives easy to understand reports.
  • It has easy to use double-entry accounting.
  • It has a mobile app to ensure that you can continue your work from anywhere and anytime.
  • It is compatible with more than 100 regularly used apps.
  • It provides way collaboration with the client and also stores them in the cloud automatically.
  • You can also see an overview of your project.
  • Assign different tasks to your team members.

Cons:

  • The plans are slightly expensive as compared to other accounting software.

Plans and pricing:

The best part about this software is you that can try it for free for 30 days with all the features.

  • Lite

This plan is available for $4.5 per month and $148.50 per year. It offers 5 billable clients, unlimited invoices up to 5 clients, unlimited estimates, paid with credit cards and bank transfers, track sales tax, reports, and mobile app.

  • Plus

It is available for $7.50 per month and $247.50 per year. It offers 50 billable clients, unlimited invoices, track expenses, unlimited estimates, proposals, paid with credit cards and bank transfers, recurring billing, business health reports, mobile app, and mobile mileage tracking.

  • Premium

This plan is available for $15.00 per month and $495 per year. It offers 500 billable clients, unlimited invoices, track expenses, reminders, unlimited estimates, and proposals paid with credit cards, check out links, track bills and payments, business health reports, financial and accounting reports, mobile app, and mobile mileage tracking.

  • Select

This is for 500 clients and has most of the smart features.


3. Wave

wave-accounting-software

This is an award-winning accounting software that is carefully designed for entrepreneurs to help them in accurate accounting and produce exceptional results. 

With the help of wave accounting software, you can get a complete picture of your financial success. It brings to you advanced features to ensure that you can have effective and efficient accounting.

What are the features of the Wave?

This is accounting software that brings to you a better way to make, manage, and move your money and provides you a complete picture of your financial world.

It helps to manage your income and expenses. It maintains a track of everything and connects you to other Wave products such as payroll or payments. This software also provides you the facility of invoicing and automation, thus, helping you to save your time. 

It has smart invoicing features so that you can easily and quickly create and send professional invoices. It has advanced features that manage recurring billing and automatic payments. It has smart accounting features that help you to maintain an accurate and efficient financial system. 

This accounting software is not only beneficial but also easy to use. It gets connected with your bank accounts and keeps you updated by keeping track and record of your expenses and payments. It also helps to balance your books and manages taxes.

Wave software is simple, reliable, and secure and assists to manage cash flows easily. It helps you with organized accounting and ensures that you do not have to worry.

This software provides a smart dashboard that supports organized expenses, payments, income, and invoices. This helps during tax time and makes your work convenient. 

In case you are worried about how you are going to use this accounting software, then it also provides you a guide with step by step instructions to ensure that you run your business with confidence. This guide includes setting prices, invoices, payments, payment scams, and unpaid invoices. Thus, a complete package.

Pros:

  • It is easy to use.
  • It has smart features such as professional invoices, organized expenses, payment records, and many more.
  • It helps you to stay organized. 
  • It has smart invoicing along with managing recurring bills and automated payments.
  • It connects to other Wave products such as Payroll, payments, and invoicing.
  • It has a complete step by step guide to help you with its working.
  • It keeps a record of your cash flow.
  • It has a free version. 

Cons:

  • There are limited invoice templates.
  • It provides limited reports.

Plans and pricing:

  • Free plan

This software is completely free. You can use it as much as you want and for as much time as you want.

It includes most of the features as given below:

  • Unlimited income and expense tracking.
  • Tracks tax and expenses.
  • Unlimited collaboration with your team members and clients.
  • Double-entry system.
  • Reports and overview of everything.
  • Unlimited bank account and card connections.
  • Organization of income and expenses.
  • Multiple businesses in one account.
  • Personalized dashboard.

It also provides the facility of receipt scanning for free.


4. Zoho Books

zoho-books-accounting-software

It is amazing online accounting software that helps to make your business more efficient. It offers various benefits such as manages your finance, keeps you GST compliant, automates business workflows, and helps you keep an eye on all departments.

This app is recognized and awarded by the Government of India as one of the best apps to manage your business.

What are the features of Zoho Books?

It helps you to create customized invoices and makes the payment process faster with the help of its various online payment ways.

It allows you to create quotes and then convert them into invoices with just a click. It provides you a client portal where you can bring your customer and manage their transactions and payments in one place. 

With the help of this app, you can also upload your receipts and keep a track of where your money is going. It has a facility for generating bills to keep a record of payments you owe to your vendors. It helps you to retrieve your bank transactions, categorize, and reconcile your accounts with ease. 

This accounting software ensures that you keep a track of every bit of work and turn them into money with the help of timesheets.

It manages your inventory and analysis the fast-moving items so that you can keep them in stock. You can also send sales orders and confirm them before delivering goods to your customers. It provides easy communication and collaboration with your vendors. It keeps you updated with GST and helps in making payments through a single platform. 

This accounting software helps you to directly upload your invoice to IRP and stay invoicing compliant. It helps to provide safe, secure, and easy online payments.

You can generate reports about your business and also compare them with real-time data. This software helps you to save your time with the help of automating business workflows and ensures you focus on generating higher revenues. 

Zoho Books bring to you a separate place for your documents in one place and attach transactions with them. It has a vendor portal where your vendors can self-manage their transactions with you. It brings to you a mobile app so that you can manage your business at anytime and anywhere. 

Pros:

  • It helps you to create customized invoices.
  • It is safe and secure accounting software. 
  • You can create quotes into invoices easily. 
  • It provides a track of your income and expenses. 
  • It has a separate client portal. 
  • It helps to generate bills a keeps a record of payments.
  • It has the facility of timesheets.
  • It has a mobile app.
  • It monitors inventory.
  • It helps to create reports.
  • It has the facility of automation.
  • It has a separate vendor portal.

Cons:

  • It does not provide much automation.

Plans and pricing:

  • Free plan 
  • Invoices 1000 per year. 
  • Bills 1000 per year.
  • Users 3
  • And apart from that, it includes certain basic features. 
  • Basic plan 
  • This is available for $9 per organization per month.
  • Up to 50 contacts.
  • 5 automated workflows.
  • Users 2
  • It includes e-invoicing, bill of entry, budgeting, unbranded emails.
  • Standard plan
  • This is available for $10 per organization per month. 
  • Up to 500 contacts.
  • 3 users
  • 10 automated workflows.
  • It includes features of bills, vendor credits, reporting tags, purchase approval, and Twilio integration
  • Professional plan
  • It is available for $29 per organization per month.
  • More than 500contacts
  • 10 automated workflows.
  • Users 10.
  • And it includes a vendor portal, digital signature, projects and timesheet, custom domain, user roles, automation.

5. Intuit Quickbooks Online

intuit-quickbooks-accounting-software

This is a great choice when looking for an accounting software for small businesses. It is used by more than 7 million people.

This software keeps your accounting data organized on the cloud. It also helps to track sales, create and send invoices. You can keep a track of your business with the help of this software. 

What are the features of Intuit QuickBooks Online?

The best part of this software is that it is very easy and convenient to use and you do not need to be an expert to use this software. You can easily connect your bank account and automatically import and categorize transaction

QuickBooks software is compatible with popular apps and allows you can also take photos of your receipts to store them with Quick Books mobile. 

This software offers you a free 30 days demo and helps you to stay organized and updated. It brings to you smart invoicing features such as invoice tracking, payment reminders at your convenience. It enables you to report and manage expenses and helps you to stay updated. 

With the help of this software, you can access your account, manage your business, and provides easy management of your financial system. This is a great software for managing your accounting and especially for small businesses.

It brings to you cloud accounting and you can use this software from anywhere and with any device.  It helps you to create custom, professional invoices, and sales receipts, and many more so that your clients are always satisfied with your work. 

QuickBooks brings to you online software banking integration and helps by automatically updating statements and transactions. It also has a facility of customized dashboards and reports. It helps in cash flow management and schedules recurring payments to save time. It provides you a feature of time tracking to ensure that you stay updated and informed. 

This software has a mobile app to make you work from anywhere and anytime. It offers multiple users an easy collaboration. And in case you face any problem then the Quick Books community is always open to solve your queries.

Pros:

  • This is easy to use software.
  • It offers cloud accounting.
  • It has smart invoicing features.
  • It offers online banking.
  • It provides you with accounting reports.
  • It also has customizable dashboards.
  • It helps in cash flow management.
  • It has a facility for time tracking.
  • It has mobile apps to help you work and control from anywhere.
  • It provides easy collaboration.

Cons:

  • It is expensive as compared to the others.

Plans and pricing:

  • For self-employed 

This is available for $7.50 per month.

It provides you the feature of tracking income, expenses, invoicing, recording receipts, multiple bank accounts, free updates, new features, import data, budget creation, estimate quarterly taxes, and purchase orders.

  • Simple start

This is available for $12.50 per month. 

It has a tracking facility, maximizes tax deductions, invoice, basic reports, manages cash flow, estimates, 1099 contractors, and track sales and taxes.

  • Essentials

This is available for $20 per month. It includes managing bills, track time, and 3 users along with the above plan.

  • Plus

It is available for $35 per month.

It includes 5 users, track profits, inventory records along with the above plan.

  • Advanced

This is available for $75 per month.

It includes 25 users, analysis, invoices, expenses, account team, online training, automates workflows, and restore data along with the above plan.


6. Xero

xero-books-accounting-software

Xero is an excellent accounting software. This is used by more than 2 million users and is used by small businesses, accountants, and bookkeepers.

It helps you to easily and quickly manage your work so that you can spend more time with your family rather than always working. It brings to you a vast range of features so that you can manage your finances efficiently and effectively.

What are the features of Xero?

It manages and tracks your bills and ensures they are done on time. It provides an overall view of accounts payable and cash flow.

It helps you to simplify employee expense claims, capture costs, submit, approve and reimburse claims, and view spending. You can also connect your bank accounts to Xero and set up bank feeds. 

This is a safe and secure accounting software that helps you to make transactions securely and straight into Xero each business day. It brings to you the facility of invoice and you can accept online invoice payments and helps you to get paid as soon as possible.

It helps to keep a track of projects and smart features of invoice and quote. It ensures that you are always paid for every minute of work you have done and assists you to keep a record of the time costs, and project profits, and all this within Xero.

It has also got the facility of the bank reconciliation and benefits you by keeping you up to date. You can also categorize your bank transactions each day by using the suggested matches. You can easily check all the details of any customer or supplier such as the history of sales, emails, invoices, and documents. You can also check the contact details. 

This accounting software automatically keeps a copy of the original documents and important data and files within Xero and you do not need any kind of manual data entry. You can also use Xero as your online filing system. It can work to manage, share documents, files, and data, contracts, bills, and receipts and is convenient as well as secure to use. 

It allows you to get accurate accounting reports to track your finances. You can also easily collaborate with your advisor online in real-time and very quickly. This software is to help in managing inventory and keeps a track of in-stock material. You can populate invoices and orders with details of the items you purchase and sell. 

With the help of this software, you can easily invoice customers from your phone or desktop when you are done with the job. Another best part about this software is that it provides multi-currency accounting. This means you can pay and get payments in over 160 currencies and also provides up-to-date exchange rates and currency conversion in an instant.

Pros:

  • You can create quality quotes.
  • Automatically calculate sales tax on transactions.
  • You can create reports for a better view.
  • You can purchase orders.
  • It provides multi-currency accounting.
  • You can send smart invoices.
  • It keeps a track of inventory.
  • It provides accurate accounting reports.
  • It has an online filing system.
  • It maintains a copy of the data.
  • Stores the full history of your clients and suppliers.

Cons:

  • It is slightly expensive.
  • The reports are not that helpful.

Plans and pricing:

It offers a free trial for 30 days that provides you access to all the features and then you can accordingly choose a plan. 

  • Early plan

This is available for $5.50 per month.

It includes 20 invoices, 5 bills, reconciles bank transactions, records bills, and receipts with Hubdoc. This is beneficial for freelancers, sole traders, and new businesses.

  • Growing plan

This is the most popular plan and is good for growing small businesses. It is available for $16 per month and provides you the feature of invoices and quotes, bills, reconciles bank transactions, records bills and receipts with Hubdoc. 

  • Established plan

This is a plan great for established businesses of all sizes. It is available for $31 per month and includes invoices, quotes, bills, bank transactions records bills and receipts, multiple currencies, tracking, expenses. 

Apart from this, it has special discounts available.


7. Invoice Meister

Invoice Meister-accounting-software

This accounting software helps you to easily manage a quote and invoice for your business. It has special features such as automation and smart invoice and many more so that you can get productive and exceptional results.

You can also go with the free trial to get an idea of the features and usage of the accounting software.

What are the features of Invoice Meister?

This accounting software comes with automatic features. This helps you to save your time and efforts. They also provide notifications and reminders to help you keep updated.

You can set recurring invoices that can be sent automatically to help you make your work easier. It has robust and strong features that can help you to complete your work before deadlines.

With the help of this accounting software, you can send online invoices and assists in easy and quick payments to make your work more convenient. This software works in the cloud. There are no complicated installations or instructions.

And you can easily use this accounting software no matter where you are. It also has the facility of an automatic backup of the stored data. This accounting software helps to keep your files and information saved and secure. This software is very convenient to use and you can easily access information and files from anywhere and at any time. 

For your convenience, this software also offers premium support, a knowledge base, and video tutorials to provide you with a step by step instructions and clear your queries. This is a reliable accounting software that enables you to keep your data and information safe and secure. 

This accounting software allows you to create and send online invoices within a few seconds. These are professional invoices so that you can give a good impression to your clients. It has the facility of multi-currency. You can create an invoice in any currency and send them to your global clients. The exchange rate is updated automatically and you do not need to worry about anything. 

This software helps to make your work easier. You just need to add your payment terms and client information and the software itself calculates totals and taxes. Also, due to the presence of the multi-currency facility, your billing becomes easy and quick.

It helps you to keep a track of your clients and check whether they are paying you or not. You can also set up notifications for overdue invoices to keep you informed and better management of your money. This software also provides a free 30 days trial and you do not need any credit card for it and you can discontinue any time.

Pros: 

  • It provides faster, smart, and professional invoices. 
  • You can send invoices in any currency.
  • You can also set reminders and notifications to help you keep updated.
  • They provide premium support to clear your doubts. 
  • It offers a 30-day free trial.
  • You can design your invoice. 
  • The exchange rate is automatically updated.
  • It provides time tracking.
  • It stores your data.
  • It is easy to use.
  • Your data is safe and secure in this accounting software.

Cons:

  • It should provide more dashboards and reports.

Plans and pricing:

  • IM Starter 
  • This is available for $7.50 per user per month. It consists of the following features:
  • Unlimited online invoices
  • Unlimited products
  • Unlimited contacts
  • Taxes
  • Multi-currency
  • Payments
  • Item card 
  • Customer card
  • 1 user
  • IM Standard

This is the most popular plan and is available for $10 per user per month.

It has all the features of an IM starter along with unlimited quotes, invoice designer, notifications for overdue invoices, dashboards, and 1 user.

  • IM Professional

This is available for $15 per user per month. It includes all the features of the IM Standard plan along with recurring invoices, credit notes, expenses, notifications for overdue or recurring invoices, profit and loss, accounts payable, accounts receivable, and 1 user. 

And you can try out the free trial before purchasing any plan. This will help to give you a better idea about the software.


8. Accounting Seed

accounting-seed-accounting-software

Accounting Seed is the robust financial software that helps to make your business accounting efficient. It is the #1 accounting software and comes with various smart features to help you make your business more productive and get excellent results. 

What are the features of Accounting Seed?

This is an innovative and powerful accounting software that helps you to get accurate and precise accounting. This accounting software is quite flexible and beneficial. It helps you with easy collaboration with your team members and clients. It is a reliable and secure accounting software. 

Accounting Seed understands that every business is different and has its requirements and features. Thus, this software is designed to be very flexible and you can easily customize and configure it to meet your business requirements and conditions.

Accounting Seed accounting software enables you to take smart decisions. This is done by improving data visibility for all stakeholders and helps you to get an insight into your business. It provides an overall view of your business and this helps in removing errors and uncertainties so that you can take your business to new heights. 

This accounting software helps you to link crucial business applications and banks so you can get a complete view of your data. This is a cloud-based software and requires no complicated installations. It also brings to you the feature of automated general ledger, accounts payable, accounts receivable, orders and inventory, financial reporting, and many more. 

It provides you with enhanced financial dashboards and real-time reporting to help you make your business more organized. With the help of this software, you can also track customer engagement and history. The general ledger and project accounting are grouped to help you save your time and efforts.

It also provides the facility of automation so that you do not need to waste your time on repetitive tasks. 

Pros:

  • It has a project accounting.
  • It provides automation.
  • It provides professional invoicing.
  • It provides easy collaboration.
  • It provides intelligent reports.
  • It has a general ledger.
  • It has separate dashboards.
  • It helps in inventory and order management.
  • It is quite flexible and thus, suitable for every business.
  • It provides advanced customization options.

Cons:

  • It requires you to have basic knowledge of accounting since it can be slightly difficult to use.

Plans and pricing:

You can first try out the free trial of this financial software to get a better insight into the software. And after then if you like the software you may buy it. 

This software is available for $250 per month if you go with the annual pack and $285 per month for a monthly plan.


9. SlickPie

SlickPie-accounting-software

This is a free accounting software and is another great choice for small businesses and enterprises. It consists of most of the basic tools and helps to provide you with easier and efficient management of your business.

This software helps to save your time and provide you with wonderful results and helps to take your business to new heights.

What are the features of SlickPie?

SlickPie brings to you various features that can enable you to make your work convenient and faster. It helps you to get rid of boring and tiring repetitive tasks such as double data entry with the help of its MagicBot.

MagicBot helps you with double data entry and makes your work easier. It is a double data entry tool that helps to make your business accounting more efficient by automatically retrieving information from bills and receipts and converting them into digital data. 

In the case of an accounting software, invoicing is the most important beneficial feature. SlickPie allows you to send quick and customized invoices so that you can impress your clients. You can either choose the already available template or create one of your own.

You can also automatically send your invoices from anywhere and at any time and keep a track of them. This will help to give you an efficient and quicker way to get your payments. 

This accounting software also brings to you the facility of recurring invoices. This will help you to save your time and stay tension free. It also helps your clients to pay very easily. The payment can be easily made against the invoice through credit cards and PayPal.

You can also add credit notes and the software automatically reminds you of that when making the next payment. It assists in cashflow’s management. You can check any overdue invoices and set payment reminders.

You can also send invoices in bulk to all your customers and set the expected date for payments. Thus, have a completely organized financial system.

With the help of this accounting software, you can send an invoice in any currency. Thus, it helps you manage your global clients as well.

No matter where your company is, it allows you to send invoices in any currency and in case you send invoices and get paid in different currencies then also your financial report will show data in your company’s default country. 

Pros:

  • It is easy to use.
  • It helps you to get paid faster.
  • It provides an automated receipt data entry tool.
  • It provides smart invoices.
  • It has a multi-currency facility.
  • It helps in Pay Pal, Stripe, and Credit Card Processing.
  • It helps to create quotes and estimates.
  • It helps to track expenses.
  • It helps to manage bills.
  • It helps to track sales tax.
  • You can set up recurring invoices.
  • You can set reminders.
  • You can add multiple users and companies.
  • Check transactions history.
  • It can work through any device.
  • You can attach and upload files.

Cons:

  • Not sufficient charts are provided.

Plans and pricing:

This accounting software is quite affordable. 

There is a free plan available.

  • Starter Free

It includes most of the features along with unlimited data entry and 10 companies. It has only email support.

  • Pro plan

This is available for $39.95 per month. This includes all the features along with unlimited data entry, 50 companies, and phone and email support.


10. FreeAgent

Freeagent-accounting-software

This can be a good choice for freelancers, small business owners, and their accountants to manage your financial services.

FreeAgent is used by more than 100000 businesses and helps to organize your work by bringing everything to one place.  This is a completely secure and safe accounting software.

What are the features of FreeAgent?

FreeAgent can help you to set recurring invoices and send them automatically. This will be sent to the client and help to avoid delayed payment and helps you to get paid faster. You can also set automated reminders to the clients.

This accounting software helps to store your financial data. For this, you can take a pic of your receipt with your phone and upload it to Free Agent. This will automatically record your expense. You can also customize a comprehensive list of expense categories to build accurate accounts that are invaluable at tax time. 

With the help of this accounting software, you can easily and efficiently organize your work. Whether it is invoices, estimates, expenses, tasks, and time everything comes to one place. This can help to provide you an overall view of your work and helps to keep you updated.

You can also connect this software with your online bank account and this will help in getting direct transactions in your bank account every day with Bank Feeds. 

FreeAgent also helps to build-up real-time accounts for your business and thus, provides you with a live view of your business cashflow. It also provides the facility of creating estimates with great looking templates in no time.

It also brings to you the facility of time tracking so that you are always updated. Also, you can use the time tracking facility from your phone as well as your laptop. You can keep tabs on your project income, expenses, and profitability. 

This accounting software brings you a personalized dashboard that helps you to check how your business is doing and keeps you organized. You can easily send and track the estimates and invoices. With the help of smart timesheets and an inbuilt stopwatch, you can keep a record of all your time. 

Pros:

  • It provides the facility of invoices and estimates.
  • You can set recurring invoices and send them automatically.
  • In this software, you can record all your expenses by just taking a snap.
  • It has timesheets and a stopwatch feature.
  • It provides you a personalized dashboard to manage your business.
  • You can connect your bank account with this software.
  • It keeps a check on your income performance, expenses, and profitability.
  • It provides a free 30 days trial.

Cons:

  • Not flexible and some of the features require improvement.

Plans and pricing:

There is a 30 days free trial available and we suggest that before buying any plan it is better to use the free trial. This will help to give you a better insight into the software and its compatibility with your business.

  • Universal plan

This plan is available for $10 per month if you go with the 6-month plan and $20 per month of monthly plan is chosen. This plan includes most of the features such as unlimited uses, clients, and projects, and there are no setup fees. 

Apart from this, there are also different discounts available to customers.


11. Kashoo

kashoo-books-accounting-software

Kashoo is the simplest accounting software and provides smart features in just one click.

This is an incredible option for small businesses and self-employed to help them in managing their work better and decreasing their workload. Thus, a complete package helping you make your work easy and spend more time with your family.

What are the features of Kashoo?

This accounting software is a great option for owner-operators, contractors, freelancers, digital professionals, and any truly small business.

This software helps to make your work less time-consuming by eliminating redundant tasks such as data entry and manual imports. This will help you to save time and effort. You just need to connect your bank accounts and cards with the software and your work is done. 

In this software, every transaction taking place in your business is automatically categorized and sorted. You are not required to do anything and software manages on its own. Thus, your work will become convenient.

There is a smart inbox that automatically recognizes the clients with whom most of the deals are made and maintains a record of it. 

Kashoo accounting software automatically scans, creates a digital copy of your receipt, and categorizes it in 2 seconds. Thus, you do not need to worry about duplicate entries in your books. 

With the help of this software, you can also reduce your taxes. It maximizes your deductions in a simple way. It helps in a simple filing by sorting into the correct accounts that the IRS and CRA look for.

There are also subcategories present to provide you with more detailed reports. It has the facility to capture cash or paper transactions with a couple of taps. Thus, a complete platform to help you manage your work more efficiently.

Whenever you work with a new client this software automatically creates a new contact. It also keeps a track of the information of the client. This software enables you to spend less time working and you do need to do bothersome tasks such as importing manual data entry, and many more. 

Pros:

  • It helps to eliminate repetitive and tiring tasks.
  • It helps to keep a record of your clients.
  • It automatically stores your expenses data.
  • It helps to reduce tax.
  • It helps you to stay organized.
  • It is simple to use.
  • It automates bookkeeping tasks.
  • It helps in managing your income and expenses.
  • It helps you to save time.

Cons:

  • It requires improvement in certain features.

Plans and pricing:

This accounting software is offering 14-days free trial. And there is no credit card required for that. It has all the features and free phone, chat, and email support is also provided.

  • There is only one plan available.

This is available for $16.65 per month for the annual plan and $19.95 per month for a monthly plan.

This plan includes:

  • Categorization with machine learning.
  • Automation.
  • Effortless income and expense tracking.
  • Smart invoicing.
  • OCR receipt matching.
  • Sales and sales tax tracking.
  • Report.
  • And unlimited users.

12. Tipalti

tipalti-books-accounting-software

This is accounting software that can help you to complete your work in no time. Work that used to take more than one to two weeks, now with the help of Tipalti can get done in one to two days. This is done with the help of various advanced features and automation. 

What are the features of Tipalti?

Tipalti brings to you various advanced features such as payable automation process for an invoice – based workflows is a comprehensive solution. This helps to reduce manual effort, increases self-service, and eventually improves scalability and audibility.

You can schedule the invoice for payment. And in case there is a problem with the payment then your clients are automatically informed regarding it. 

Tipalti automatically tracks and stores all your payments and maintains a record of them. This software helps to remove the manual payables and inappropriate high-value staff and encourages teams to focus on strategies.

It also helps you to expand regionally and reduce payment compliance risk. It helps in automating payables in an easy, safer, and efficient way. By using a modernized financial system your business can reach new heights. 

Apart from these benefits, Tipalti software also helps in tax compliance and maximizes your reductions. This will help your business to become more productive. It has the facility of invoice management and you can schedule various invoices.

This helps to save your time and get paid faster. It has a PO matching and self-billing module as well. It provides the facility of global payouts. It also helps in payment reconciliation. It has Tipalti detect that proactively identifies the payee fraud and maintains a full audit trail.

This financial accounting software helps to manage unique payables workflows and centralized AP for subsidiaries and entities. It has a Tipalti Multi-FX feature to easily convert currencies to support global entities and provide highly competitive exchange rates.

You can also define access controls around payables processes and validate suppliers proactively with the help of financial controls.

It has full-featured SOAP interfaces and a highly secure API. It is a completely secure software and is SSAE 16, SOC compliant and ISAE 3402 Type II certified.

It also has direct ERP intervention and tracking systems integrations. It uses AI for proactive and smarter processes for the entire payables options and greater efficiency and risk mitigation.

Pros:

  • It has a supplier management feature.
  • It has a tax compliance feature.
  • It provides invoice management.
  • It has a self-billing module.
  • It helps in global payouts.
  • It has a facility for payment reconciliation.
  • It has the feature of multi-entity.
  • It is reliable.
  • It offers various integrations.
  • It uses AI to provide you the best features.
  • It has full features interfaces.

Cons:

  • Sometimes there can be temporary glitches in the software. 

Plans and pricing:

  • Tipalti Express

This is available for $299 per month and includes most of the features.

  • Tipalti Pro

This is available for $447 per month and includes many advanced features. It is good for complex enterprises and companies.


13. Sage Business Cloud Accounting

sage-business-cloud-accounting-software

Sage Business Cloud Accounting is a simple to use financial accounting software that can help to make your work easy and convenient.

It helps to make accounting less time consuming so that you can spend more quality time with your friends and family. Currently, it is also offering various deals and discounts to help you get an accounting software without going out of budget. 

What are the features of Sage Business Cloud Accounting?

This accounting software helps to make automating for small businesses easy and simple. This is done with the help of various smart features such as expense and payment tracking, invoicing, and remote access.

This software is easy to use and helps you to complete your work quickly. It is also helpful in cash flow and helps you to get paid faster. 

With the help of this accounting software, you can easily manage cash flow. It allows you to track how much money is coming in and going out of your business each month and everything is present on a personalized dashboard.

It also helps you to send and track invoices. This will help you to get paid faster and protects your cash flow. You can keep a track of your unpaid invoices, overdue invoices, and many more.

You are also enabled to send invoices in different currencies and the exchange rates, adjustments, and charges are automatically resolved. 

This software provides seamless integration of Stripe payments. This helps you to get paid faster and keep updated on what your clients owe you.

You can also store data and documents including receipts with the help of live bank feeds and auto entry. This helps to keep your work organized. 

This accounting software also helps you to manage inventories and fulfill orders on time. You can easily collaborate with anyone through this software.

In case you are worried about how you are going to operate the software then for your convenience, they provide online chat along with free training and support to ensure that your work is completed on time.

There is also a live question and answer session available with the expert from Monday to Friday to help you solve your queries. 

Pros:

  • It helps you keep a track of your cashflow.
  • You can send invoices in seconds.
  • You can keep a track of invoices and remain updated.
  • It helps you to get paid faster.
  • You can keep a record of your expenses by taking a snap of the receipt.
  • It also helps to monitor your inventory and ensures orders are fulfilled before deadlines.
  • It provides easy collaboration.
  • It can work through any device.
  • 24/7 live support is provided.
  • Live Q and A sessions are arranged to clear doubts.

Cons:

  • The set-up is complex. 

Plans and pricing:

There is a free trial available for you to test the software. And after that to continue using the software you need to get a paid plan.

  • Sage Business Cloud Accounting Start

This is available for $3.00 per month. It is ideal for a sole proprietor and micro business. 

The features of this plan:

  • Create and send invoices.
  • Keep a track of everything.
  • Automatic bank reconciliation.
  • Sage Business Cloud Accounting

This is available for $7.50 per month. It is ideal for small businesses.

The features are:

  • Create and send invoices.
  • Keep a track of everything.
  • Automatic bank reconciliation.
  • Provides unlimited users.
  • Send quotes and estimates.
  • Forecast cash flow.
  • Manage purchase invoices.
  • Snap receipts with auto entry.

14. Plooto

plooto-accounting-software

This is an all in one payment platform. This is because it facilitates greater financial control and simplicity by unifying payments, approvals, reconciliation, and reporting.

This accounting software is used by more than 4500 businesses to handle their business easily and effortlessly. 

What are the features of Plooto?

Plooto helps to provide safe and secure payments. Especially when you are collecting a one-off payment from a new customer, or debit the bank account of a client. It brings to you reliable payment options in one place. 

With the help of this software, you can automatically import invoices and keep a track of them. It helps you to save time with special features such as Pre-Authorized Debit and recurring payment features.

It helps to bring all your payment structure in one place. And with the help of the same system, you can pay anyone including your clients or vendors.

This accounting software helps you to build scalable workflows, manage approvals, and automatic reconciliation. It also helps to make payments simply and conveniently. You can review and approve payments before any funds are transferred.

This software brings to you the benefit of real-time payment tracking. Thus, with the help of this facility, you do not have to worry about where your money is and when it will arrive. This financial accounting software also helps to keep your book consistent. 

This accounting software has a huge (more than 120000) network of suppliers and vendors and thus, helps to add them in just two clicks. It also provides two-way sync with various accounting software such as QuickBooks and Xero.

This helps to eradicate data entry errors and inefficiency while automatic reconciliation and eventually providing accurate books with zero effort. 

Pros:

  • It helps to provide safe and secure payments.
  • It helps to provide easy cashflow. 
  • It helps to build scalable workflows.
  • It provides automatic reconciliation.
  • It makes the payment process simpler.
  • You can review and approve payments.
  • It provides real-time tracking of payments.
  • It helps to keep your books consistent with integration.
  • There is a large network of vendors and suppliers.

Cons:

  • It doesn’t deal with foreign currencies.
  • It doesn’t have a mobile app.
  • Sometimes, it takes quite a long to process the payment.

Plans and pricing:

There is a free trial available that you can try out before buying the subscription.  

There is only one plan available that is a monthly subscription plan. This comes for $25 per business. It includes all the features.


15. KashFlow

kashflow-accounting-software

KashFlow is an online accounting software that is quite easy to use. It can help to make your work easier and less time-consuming.

The best part about this accounting software is that, it is offering 4 months free and you do not even need your credit card to avail of this offer. 

What are the features of KashFlow?

This accounting software is specially designed for small businesses and it can be operated through any device, thus, allowing you to work from anywhere.

It allows you to create invoices, set up recurring purchases, and you can also add your everyday expenses. It provides unique mileage features to help you track, log, and calculate business travel. It provides a personalized dashboard to show details such as distance, time, etc.

You can set up, create, edit invoices, and schedule automatic reminders. It allows you to create quotes and estimates easily. You can connect your bank account with this software. It helps to track and manage cash flows. It also provides the facility of insightful reports.

It provides unlimited transactions from the bank account and unlimited invoices. It allows you to reconcile from anywhere and at any time.

It can also help you to save your time by automating repeated transactions. It provides an income report to keep you updated on where your income is going. It also provides expenditure reports to keep you informed. Then there are also general reports to provide you a quick overview of finances.

It provides a balance sheet, asset register, customer purchase history, and many more reports. 

Pros: 

  • It helps to provide customized invoices.
  • It provides quotes and estimates.
  • It brings to you different types of reports.
  • It helps to manage cash flow.
  • It brings to you the benefit of automating different tasks.
  • You can set reminders.
  • There is a free trial available.
  • It allows you to connect various bank accounts.
  • There is a mobile app available.

Cons:

  • Some reporting features require improvement.

Plans and pricing:

  • Starter plan

This is available for $10.19 per month per user.

It includes only the basic features.

  • Business plan

This is available for $21.01 per month. It includes certain additional features.

  • Business + payroll

This is available for $28.65 per month.

It includes certain additional features.


What is small business accounting software?

small business accounting software

Accounting software can help small businesses in a variety of ways. It assists the taxation policies, records accounts receivable and provides you with an overall view of accountability.

However, when the business enhances, accounting becomes more advanced, and you might require a custom Enterprise Resource Planning or ERP to meet the accounting needs.

There are a variety of different types of accounting software available with distinct features and requirements.

Choosing the best accounting software differs in various ways such as the number of employees, requirements of the business, type of business, and many others. For example, a health institute does not require the same features as the restaurant business.

Importance of accounting software for a small business

Human calculation can cause several errors in accounting. This can affect the end balance. Accounting software can help to improve calculations and provide accuracy in accounting. However, this does not eliminate the data entry mistakes or interpretation mistakes. 

Using accounting software can help faster calculations and accounting than manual processes. It not only provides accurate faster calculation but also efficient processes with the help of automation. Thus, providing you more time so that you can enjoy and spend time with your family.

This faster and efficient accounting process will help you to reduce overall costs. It will help to make your accounting team more productive and provide you accurate results.

Importance of accounting software

It helps you in tax filing processes. Tax filing for a business can be sometimes very complex and irritating. Accounting software helps to make the process easier for you. They bring all your financial details in one place and thus, helps to save your time, money, resources, and efforts. 

Accounting software can be quite beneficial for businesses. It not only helps to provide precise and accurate calculations but also enables you to save more time. This is because it makes many of the complex processes easier and less time-consuming.

This will help to raise the overall costs and productivity of your team. Thus, you will get more profits as well as more time to spend with your family.

In this article, we have listed some of the best accounting software and you can buy them according to your requirements.

Also, for your convenience, we have got the essential features and requirements that you can consider before choosing the best accounting software for yourself.


Features to look for while buying an accounting software

  • It should be easy to use.

While buying an accounting software you need to ensure that it is easy to use. This is because the purpose of the software is to make your work easy and your team members should be able to handle it as well.

  • It should provide integrated billing, invoicing, and inventory management features.

These are some of the basic features that are offered by every software, however, if they are integrated then your work can be less time-consuming.

  • It should be a reliable one.

The financial data of any company is the most important. Thus, you need to ensure that the software you are choosing is safe and secure.

  • Easy collaboration.

Your accounting software should be able to provide easy collaboration with your clients, suppliers, team, and others. This will help to make your work easier.

  • Insightful reports.

An accounting software that provides relevant reports can help to take your business to greater heights. The reports can help to provide an overview of your business and your income and expenses.

  • Free trial.

It is suggested to try out the free trial first before buying any accounting software. This is because it can help to provide you a better understanding of the software and your and your team’s compatibility with it.


Frequently Asked Questions (FAQs) – Best Small Business Accounting Software

Question: How can accounting software help us?

Answer: An accounting software can help to make your work simpler. There are various features present that help in better management, tracking, reports, invoices, eradicating repetitive tasks, and many more. Thus, they can help to make your business more productive and efficient.

Question: Is free accounting software worthwhile?

Answer: Many accounting software offers free versions. However, these plans come with limited features and benefits. If you want an accounting software that can provide advanced features then you might have to switch to a paid plan.

Question: Do we need to know about accounting for using an accounting software?

Answer: Some of the accounting software are quite easy to use such as Xero, Kashoo, and SlickPie. Many of the software also offers a video tutorial, chat, and live support to help you with the use of the software.

Question: What is the difference between cloud accounting and desktop accounting software?

Answer: More and more software are switching to cloud-based accounting. This is because of the flexibility and remote working offering on cloud-based. Also, it provides more users and you need to do some work manually.


Wrap Up

An accounting software can help to manage your financial data in a better way. It can make your work more organized and help to make businesses more productive.

However, every accounting software has different features and benefits and thus, it is important to look into your business requirements and then choose accordingly.


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