The Best Accounting Software for Your Business

Most new small businesses use spreadsheets to manage their books, and some maintain this practice as they expand. In addition to being time-consuming, this creates the problem of having lots of different documents with conflicting or outdated numbers. The solution? Small business accounting software.Small business accounting software can help organize your business across the board, from creating reports needed for tax purposes to helping you keep projects on budget.We looked at a number of the best online accounting software programs to help you compare features and prices and pick the best tool for your business.
The Best Accounting Software for Your Business

Most new small businesses use spreadsheets to manage their books, and some maintain this practice as they expand. In addition to being time-consuming, this creates the problem of having lots of different documents with conflicting or outdated numbers. The solution? Small business accounting software.Small business accounting software can help organize your business across the board, from creating reports needed for tax purposes to helping you keep projects on budget.We looked at a number of the best online accounting software programs to help you compare features and prices and pick the best tool for your business.

1

Quickbooks

Intelligent OCR-backed receipt processing

Quickbooks Review

Quickbooks is a small business focused accounting software that has features for managing contractors, book …
  • Best For:Cloud-centric accounting
  • Price range:From $12.50 / month
  • Free trial or free version:No

Quickbooks is a comprehensive accounting system designed for small businesses through to organizations at the advanced scales of staging. 

The tool includes OCR-backed expense receipt tracking, invoice issuing, and for an add-on users can add the payroll functionality. Not all features are available on the mobile apps, but users can even use these, in conjunction with hardware, to process payments. 

Positive
  • Apps for iOS and Android
  • Project profitability tracking
  • Easy hour billing with integrations
Negatives
  • No free tier
  • Not all features available on mobile
2

KPMG Spark

A human bookkeeper is included

KPMG Spark

KPMG Spark is a small business focused online accounting system that contains a comprehensive set of …
  • Best For:Cloud-based accountingwith bookkeeper included
  • Price range:From $195/month
  • Free trial or free version:Free demo

You’ve got your eyes set on an online accounting system—but a bookkeeper would be kind of useful too. With KPMG Spark there is no need to linger over this difficult choice. 

This cloud-based accounting system from one of the most trusted brands in bookkeeping and auditing is backed by its own dedicated team and integrates with more than 12,000 financial institutions.

Positive
  • Bookkeeper is included
  • Works with more than 12,000 financial institutions
  • Cloud-based tool
Negatives
  • Small support team
  • No free trial option
3

Freshbooks

Easily fillable document editing

Freshbooks Review

Freshbooks is an accounting software targeted at the needs of business owners. It offers a free trial of its fully …
  • Best For:User-friendly invoicing and accounting
  • Price range:From $13.50 per month
  • Free trial or free version:Free 30-day trial

If you’re a business owner looking for a quick and easy way to bill your clients, then Freshbooks could be the user-friendly option you have been looking for.

Creating invoices and expenses with Freshbooks is as easy as clicking and typing into fillable document fields. The system can also scale to support more than 500 clients. 

Positive
  • Scalable to bill more than 500 clients
  • Clickable document editing
  • Payroll via integration
Negatives
  • No built-in payroll functionality
  • Mobile mileage tracking only on higher tiers
4

Finance Pal

SMB accounting & compliance made simple

FinancePal Review

FinancePal is an accounting software package geared toward the SMBs of the world. Most SMBs don’t have the …
  • Best For:SMBs
  • Price range:Customized per businessmonthly, annual, a la carte pricing
  • Free trial or free version:Free trial

FinancePal is a leading small business accounting software that checks off all the boxes. From bookkeeping to accounting, tax compliance, and online payroll services, FinancePal really covers the spectrum. And since everything is done online, the entire process is smooth and painless, a welcome alternative to breaking your head over dizzying accounting numbers, complicated tax laws, and compliance requirements.

Not your average, generic business accounting software, FinancePal assigns each business a personal accounting team consisting of trained professionals who have worked in the fields of business financing, tax compliance, and accounting. So you can rest easy knowing your business is financially-compliant at all times.

Positive
  • Your own dedicated accounting team
  • Custom pricing plans
  • Easy to use dashboard + lots of features
Negatives
  • No upfront pricing to compare
  • Doesn’t work directly with vendors
5

ZarMoney

Comprehensive biz management & accounting

ZarMoney Review

ZarMoney is possibly the most comprehensive business accounting software in the industry. It not only spans the …
  • Best For:Full-service business management
  • Price range:From $5-$350 per month
  • Free trial or free version:Free trial

With all the functionality packed into this single software, you might be surprised that ZarMoney doesn’t do your dishes too! Much more than your typical accounting software, ZarMoney has features galore that cover every aspect of business management, from inventory management to invoicing and even team collaboration tools. In each area that it provides services in, ZarMoney truly goes all out. Inventory management lets you manage multiple warehouses, customize product fields, track items with real-time data, split transactions, utilize FIFO cost methods, cover units of measurements, compare received inventory with POs, transfer between locations, and so much more.

And it’s like that in every area. Collaboration includes IM app, notifications, file attachments, customizable calendars, access permissions, and note attachments. Invoicing and billing includes advanced payables, approve to pay, emailable purchase orders, related transactions, and so much more. We could stand here all day listing the many features ZarMoney has on offer. But your best bet is to just give the free trial a spin.

Positive
  • Dizzying number of features
  • Affordable plans
  • Inventory, project, vendors, invoicing, accounting in one
Negatives
  • Scheduled maintenance can get in the way of night-time logins
  • A lot to learn
  • No graphic displays
6

Wave Accounting

Free and easy-to-use accounting software

Wave Review

Wave is free, easy-to-use accounting software, built for small businesses and entrepreneurs. The accounting …
  • Best For:Entrepreneurs
  • Price range:$0 – $35
  • Free trial or free version:Free software

Wave offers free, easy-to-use accounting software, geared towards entrepreneurs and small businesses. There are a few hiccups: the mobile experience could be improved, there’s not much in the way of integrations, and it falls short for complex inventory management. That said, the accounting features are quite powerful, and very easy to set up and use. 

Paired with useful guides, an intuitive dashboard, and an unbeatable price, there’s a lot to like. Entrepreneurs and small businesses who are just looking to get a better handle on their invoices, payments, and expenses, will find most of what, if not everything they need. It’s free, so you’ve nothing to lose by giving it a try, and you may find it to be a more intuitive software than your current solution, or an excellent starting place if you’re not yet using one. 

Positive
  • Software 100% free to use
  • Designed for entrepreneurs & small businesses
  • Unlimited income and expense tracking
Negatives
  • Missing some features
  • Limited integrations
7

GoDaddy

Intuitive, beginner-friendly, and affordable

GoDaddy Review

GoDaddy Online Bookkeeping is a straightforward, intuitive accounting program designed for US-based sole traders …
  • Best For:Small businesses
  • Price range:$4.99 to $14.99 per month
  • Free trial or free version:No

GoDaddy Online Bookkeeping certainly isn’t the most powerful online accounting software we’ve used, but it does everything it claims to. It’s extremely easy to use, fast to set up, and designed for beginners without any accounting knowledge to speak of. 

Although features like inventory management and multi-currency support are notably absent, we do love the tools that are on offer. Invoicing and expense management are clear and straightforward, and Ecommerce and bank integrations support fast transaction tracking. Overall, GoDaddy Online Bookkeeping is a great choice if you’re looking for a cheap, simple accounting program that will get the job done. 

Positive
  • Very competitively priced
  • Streamlined integrations with various Ecommerce platforms
  • Tidy, user-friendly interface
Negatives
  • Time tracking tools are quite basic
  • No multi-currency support
8

Paychex

Payroll tools & resources for accounting firms

Paychex Review

Paychex offers a variety of tools to help accountants better understand, discuss, and act on clients’ Payroll and …
  • Best For:Accounting firms and professionals
  • Price range:Contact vendor
  • Free trial or free version:Yes (dashboard & resources)

Paychex is a well-known HR and Payroll software, but many accountants may not know the company also offers an array of tools and resources to help accounting firms better advise clients on the intersection of HR, payroll, and accounting. 

The AccountantHQ dashboard provides accountants with an overview of clients’ HR and payroll situation, access to key information in real time, and tools and reports to analyze everything and find areas of opportunity. The paid HR Support subscription service includes 24/7/365 access to a specialized team, while CPE webinars and classes and other resources are available for free.

Positive
  • Tons of free resources for accountants
  • 24/7/365 HR and Payroll advisory service
  • Powerful AccountantHQ dashboard
Negatives
  • Utility depends on clients’ use of Paychex software
  • Must contact vendor for pricing information
9

Sage

Feature-rich, extensible, and straight-forward

Sage Review

Sage Business Cloud Accounting will be able to satisfy the needs of most any entrepreneur or small business, with a …
  • Best For:Small businesses
  • Price range:$10 – $25/mo
  • Free trial or free version:Free trial

Sage’s cloud application is functional and, while utilitarian in appearance, well laid out and relatively simple to use. The sheer breadth of features means there’s a learning curve, and the set-up process was a bit lengthy, but the software is nothing if not thorough. 

We’d recommend going for the full $25/mo package, as the $10/mo plan is missing some pretty key features, but this is still a reasonable price given the offering. If you deal with stock, especially, Sage has a lot to offer, although billing and invoicing is equally powerful, with clever features like the electronic Pay Now button. There’s a reason it’s one of the most popular accounting software solutions out there: functional, extensible, and straight-forward. 

Positive
  • Plenty of integrations
  • User-friendly, powerful interface
  • Excellent inventory management
Negatives
  • Some key features cost extra
  • Utilitarian layout, with a bit of a learning curve
10

Netsuite by Oracle

Powerful, customizable, extensible ERM.

NetSuite by Oracle Review

NetSuite is a highly customizable, extensible suite of financial tools, including ERM, CRM, HR & Payroll, and more. …
  • Best For:Enterprises and global companies
  • Price range:$999+
  • Free trial or free version:No (Demos available)

NetSuite is hard to beat in terms of power and customizability, although it comes with a steep learning curve. The user support is also quite limited for basic subscribers, another reason why smaller businesses may find the experience too labor-intensive. The suite, however, is extensive enough to replace a variety of other operational and logistical applications (like CRM and HR), which can ultimately reduce the overall cost, both in terms of labor and money. 

NetSuite is an excellent solution for enterprises and global companies that need to manage large operations with many moving parts and which have the human and financial resources to use NetSuite’s powerful platform to build the perfect ERM solution.

Positive
  • Highly customizable
  • Extremely powerful budgeting, forecasting and reporting
  • All-in-one solution (HR, project management, inventory, etc.)
Negatives
  • Complex to set-up and operate
  • Can be very costly
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