The best small business accounting software out there helps owners of small businesses track their accounts and expenses. They also help entrepreneurs prepare for tax season and keep an eye on their finances. This should all happen very easily and quickly. Small businesses might find it cost-effective to turn to software instead of hiring a big firm to manage such things. Then again, the market has so many options that picking one can be tricky.
Quickbooks
Flexibility, expansibility, and depth mean that Quickbooks is still the best accounting software for small businesses on the market. This option is simple to use and highly reliable. There's also an abundance of online education and help forums you can turn to if you need them. The name should be familiar to you, as Quickbooks has been around for a long time in this industry.
Quickbooks Features
The sheer number of users of Quickbooks highlights its popularity, simplicity, and reliability.
- Useful for invoicing.
- Maximize your tax deductions.
- Track your mileage.
Starting Price
Enjoy Quickbooks for $7.50 per month for three months when you start. After that, it's $15 a month.
Free Trial
There is a 30-day free trial available.
Quickbooks Pros
- Phone support is available.
- Access is through a mobile app.
- Integrate it with your other software.
- Track your mileage.
- Comprehensive accounting option.
Quickbooks Cons
- Pricing goes up double after an introductory period.
- Lacking e-commerce features.
- Accidentally creating duplicate transactions is too easy.
- Payroll costs more each month.
Freshbooks
Freshbooks makes a case for being the best small business accounting software by virtue of how easy it is to use. If you're a small business owner that knows nothing about accounting, then this option lets you easily and quickly view reports, manage clients and projects, track your expenses, and make and send invoices. Freshbooks has the necessities for the accounting novice that needs basic functionality without any previous knowledge.
Freshbooks Features
If you need to scale up, more complicated options are available at higher price points.
- Mobile app.
- Track limitless expenses.
- Limitless invoicing.
Starting Price
Start Freshbooks at $6 each month for five or fewer clients.
Free trial
There is a 30-day free trial available.
Freshbooks Pros
- Most plans let you invite your accountant.
- Apps for Android and iOS.
- Simple to use.
- Unlimited plans are available.
Freshbooks Cons
- Payroll is an add-on but not natively included.
- Training isn't offered.
Xero
Xero makes popular bookkeeping software for small businesses. You can enjoy basic features on the Early plan such as business snapshot, short-term cash flow, receipt, bill capturing, and bank accounts reconciliation. Upgrade to bigger plans as you scale up to add payroll and other features that your bigger business might find itself needing.
Xero Features
The payroll feature is something that can be added to any plan if you want it.
- Mobile app is available.
- Bank reconciliation.
- Invoices and quotes.
Starting Price
Zero starts at $12 a month for the Early plan.
Free Trial
Enjoy a 30-day free trial to test it out.
Xero Pros
- 24/7 support.
- Reconcile bank transactions with all plans.
- Offers various plans for scalability to match business growth.
Xero Cons
- Payroll costs extra each month.
- You need the highest-tier plan to deal with multiple currencies.
Netsuite
Oracle NetSuite is just one part of the broader ERP offering. Your business can use an intuitive cloud-based financial management package to track financial data and automate the most crucial accounting necessities. Use it seamlessly across multiple currencies if you are growing into a global consumer base. If you're looking for big-scale, high-concept, premium solutions, then this is it, but might also be too much for a small business that has yet to grow into this sort of size.
Netsuite Features
Enjoy many necessary features that can integrate well with other software.
- Reporting.
- Planning.
- Billing.
Starting Price
The base price starts at $999 each month.
Free Trial
There is no free trial.
Netsuite Pros
- Robust, comprehensive solution for a growing international firm.
- Business data in one single platform.
- Harmonious operations between systems and departments.
Netsuite Cons
- Cost-prohibitive for a small business.
- Functionality could be overkill.
Sage
Sage is a strong option for micro-businesses needing certain integrations and features on an affordable budget. The Start plan is only $10 a month and has basic features such as tracking monies owed to you, invoice creation, and automatic bank reconciliation.
Sage Features
Essential functions on a shoestring budget make Sage a savvy choice for the smallest of businesses.
- Automatic bank reconciliation.
- Track your accounts receivable.
- Handle invoicing.
Starting Price
Start Sage at just $10 each month.
Free Trial
Try it for free for 30 days.
Sage Pros
- Support for multiple currencies.
- Various integrations are available.
- Automated bank reconciliation.
- Cloud-based.
Sage Cons
- Phone support hours are limited.
- Payroll isn't included.
- An entry-level plan might be too simple for an established business.
Neat
Neat is a popular small business accounting software option given how simple to use it is. You can match receipts on the fly with their associated expenses. Make payments, filter transactions, and customize invoices, all while viewing trends and various insights into your business. You can set things up fast and start automating certain tasks in a streamlined workflow for efficiency.
Neat Features
Enjoy 5-minute setup, guided workflows, and automated accounting reports.
- Mobile app is available.
- Invoicing options.
- Simple to use.
Starting Price
Start Neat for $17 each month with annual billing.
Free Trial
A 15-day free trial is available.
Neat Pros
- NeatInvoices can be free with a standard processing fee.
- Link receipts with expenses as you go.
- Use NeatFiles to manage financial documents.
Neat Cons
- Payroll is unavailable.
- Fewer features than competitors.
Zoho Books
Zoho Books is the great accounting software for a small business if you love branded apps. It's very comprehensive and will serve basic needs, including sending invoices, reconciling accounts, generating reports, and tracking expenses. Integrations are where Zoho truly shines. Connect bank accounts, e-commerce platforms, payment processors, and more. If you're already using anything else under the Zoho line, then this should mesh seamlessly into your current operations.
Zoho Features
Zoho features let you see your finances in real-time while also doing things such as project accounting.
- Invoicing.
- Mobile version.
- Payroll.
Starting Price
Try it starting at $10 each month.
Free Trial
You can enjoy a free trial of 14 days. There is also a "free forever plan" although revenue restrictions will apply.
Zoho Books Pros
- Can integrate with other apps under Zoho brand.
- Program recurring invoices.
- Manger your 1099 contractors.
Zoho Books Cons
- The free plan only goes to 1,000 annual invoices.
- Payroll will cost you more.
Conclusion
The best accounting software for any small business will be affordable, efficient, and simple to use. As an entrepreneur, you're probably far too busy to figure out which ones are best, given how many there are. Lewis CPA list should help you identify possibilities that your small business can use. We also always help you with accounting software setup!
