Best Accounting Software For Small Business Of 2024

list of accounting software

Most are the type that any small business owner could customize, generate, and understand. You can save it as a draft or a final version and either print it or email it. If you do the latter and have established a relationship with a payment processor, then your invoice can contain a stub explaining how the customer can return payment via credit card or bank withdrawal. You can sometimes create a PDF version of the invoice, copy it, record a payment on it, and set it up to recur on a regular schedule. Accounting can be complicated, and your work must always be accurate to avoid problems with customers and vendors, income taxes, and reports. The companies that make small business accounting software have worked hard to make it as simple and pleasant as possible.

  1. With Zoho, users can send customized invoices, connect to payment gateways, track expenses, create a variety of business reports and calculate taxes.
  2. A good small business accounting service gives you information that helps you answer these questions based on the input you supply.
  3. Unlike some competitors, none of Zoho Books’ plans put a limit on billable clients, and even its free plan lets you send up to 1,000 invoices per year.
  4. If you have connected your financial accounts to your accounting site, then it’s easy to do.
  5. Each plan includes an unlimited number of users for free, which is extremely helpful for companies with several team members or a large accounting department.

Best for a Diverse Range of Solutions

This is great to combine your sales team with accounting, helping you follow everything that’s happening at each stage of each deal with your clients. I activated all the apps OneUp had to offer (but you can leave out the ones you don’t need, so the platform can be as lean or as full-featured as you want). I liked how the CRM feature integrates well with all the others—after all, it makes sense to track leads, calls, offers, and opportunities along with invoices in the same platform. You can start creating documents, reviewing transactions, or adding expenses right away. There’s still a setup checklist that you can follow to learn more about how to use all the tools here, or you can schedule a call with the team and ask all the questions that you need.

Best Cloud Accounting Software

list of accounting software

Also known as software-as-a-service (SaaS), cloud-based software adoption rates have increased over the past decade. In 2015, 76% of the buyers indicated a receptiveness to hosting their software externally, off-premise. In 2017, this percentage rose to 84% and has only continued to rise. Marguerita Cheng helps educate the public, policy makers and media about the benefits of competent, ethical financial planning.

It allows accountants to capture and organize receipts, maximize tax deductions, and process payments. While it may lack industry-specific functions, it remains a solid choice for service-based businesses that don’t require inventory tracking in their books. However, the dashboard offers some convenience features that make the user experience intuitive. Each report has an action button embedded so you can complete relevant tasks. For example, the “savings account” report has a button that prompts you to import a bank statement, while the “checking account” report offers a button prompting you to reconcile any unreconciled transactions. Once pressed, a drop-down menu offers common action items, such as adding an invoice or a bill.

at FreshBooks

More complex companies can add advanced tools such as mileage and time tracking, projects and proposals, and reports. It is designed for small business owners without an accounting background. With just a couple of clicks and by filling out simple forms, you can create and send invoices, track expenses, manage projects and clients and view reports. Most steps offer step-by-step guidance so you always know what to do next.

Once you’ve sent your invoice, you can then track invoices to ensure they’re paid, run reports that show the age of each outstanding invoice and apply invoice payments to specified transactions. AccountEdge offers tools for customizing hundreds of reports using advanced reporting filters, fields and lists. You can filter reports by date, customer, vendor, item and other fields. You can also customize the visual layout of your reports using graphs, charts and maps. After creating the project, I was taken to a page designated to that project.

Key Features

Most of them are good at providing a quick overview of your finances, gross income vs net income though they’re understandably not great at displaying reports. Eight small business accounting applications scored high enough to make this list. Solopreneur ($20 per month) targets sole proprietors like freelancers and independent contractors, while the more advanced Wave Pro ($16 per month) can handle a very small business with employees.


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