Are you trying to look for the best accounting software to aid you in handling your finances? Landing upon the wrong accounting software for your business might be an expensive affair. We acknowledge that every other option with the kinds of claims made might seem alluring but we need to have a more layered view of their specifications to pick the one which suits our expectations from accounting software the best.
Every business irrespective of scalability needs accounting software to track the account’s whereabouts of money spent and received to get clarity on the performance analytics of the business and to monitor the whole financial hub. This would eventually help them track down the progress made. Replacing the traditional manual bookkeeping method and aiding in figuring out loopholes in accounts with a better simplistic approach accounting software has now become a necessity. Expense moderation, Finance automating and bookkeeping landscape have become feasible with the help of bookkeeping and accounting software for sure.
Some might own a micro business, or a large firm or can be an individual service provider so, with distinct needs to serve, we might need to research a little bit to land at the best options for the same. We have made things easy for you. Here are 6 accounting software serving different purposes, you can check out.
Contents
Best Accounting Software For Business
1. Wave
The first one on our list is free accounting software with no restriction over income tracking, free Invoices and no cost receipts scanning. Although charges in the form of a percentage of the overall payable amount by clients are involved for the payments to be processed which is 2.9% of the total + $0.39 as a fee for new credit card payments and $1 for ACH payments. Has a hassle-free look-up to all data provided on a dashboard. In addition to that, they provide access to client history as well.
Pricing – Free of cost
Free trial – The whole software can be accessed for free
Services Provided –
- Manage payment flow
- Invoices customizations
- Scheduling recurring bills
- Receipts scanning
- Unrestricted credit transfer
Best for – Small firms and individual service providers
Why a good option? –
- Option to add multiple bank accounts
- Adding team members is quite easy
- In Autopilot financial info is synced
2. Fresh Books
A cloud-based accounting software. Deals with basic bookkeeping need and also takes care of advanced Invoicing customizations. Best suited for service providers and service-based businesses.
Has affordable pricing and a user-friendly interface. Has a mobile application with limited accounting resources. Great accounting tool for small firms
Pricing – Initiating at $6 per month at a lite plan.
Free trial – Available for 30 days
Services Provided –
- Fund accounting
- Billing & Invoicing with customizations
- Budgeting
- Expense Monitoring
- Payroll Management
- Tax Analytics Management
- PO Reconciliation
- Vendor Portal provided
- Provide payment reminders
Best for – Small business
Why a good option? –
- Add-ons such as a Subscription based payments model are available at customised cost.
- User-friendly interface
- Cost-Effective
- Multi-Currency Compatibility
- Great customer support system
3. Zoho Books Accounting services
Popular among micro-businesses have basic plans starting at $14 / month. With its developed customer interface, Zoho is a Comprehensive cloud based robust accounting software. Covers almost all the fundamental needs with features to add multiple bank accounts and categorise the transaction automatically. Zoho has a dedicated vendor portal and allows receipt attachments for the transactions too! Their autopilot tax formulations have made the whole flow of finances quite handy.
Pricing – standard plan initiating at $20 per month
Free trial – NA for businesses with less than 50k USD revenue
Services Provided –
- Sales order management
- Invoices data
- Inventory management
- Tracking payable value
- Automated transaction categorization
- Prepares Audit Reports
- Vendor portal provided at premium plan
- Provides timesheets and billing
Best for – larger – Medium firms
Why a good option? –
- Has various payment gateways like PayPal, Square, Wordpay and others
- Transaction catalogue is an amazing feature
- Allows 200 workflow rules with a premium plan of $70 per month
4. QuickBooks Online
Yet again a great pick, on the fourth place we have Quickbooks. Comprehensive yet simplistic software for finance requirements with pricing initiating at $30 per month. A good to-go pick for small businesses or solopreneurs because of their tax software and built-in GST handling feature. The dashboard available has all infographics assembled in a cloud to track easily. Updating financial data is very easy at QuickBooks as well. No doubt, why do most people have it as their priority. In addition to the primary services, they also give data on product inventory so if you’re owning a product-based company this is it for you.
Pricing – starting at $12.50
Free trial – 30 days free trial available
Services provided –
- invoice management & customizations
- Bank account reconciliation
- Schedule payments
- Collaboration with managing access
- Complete product inventory analysis
Best for – product-based business.
Why a good option? –
- 24/7 dedicated customer support team
- Bank account reconciliation is possible
- Free of cost Web Application
- Automatic Data Backup
5. Sage Business Cloud Accounting
With software built in a way that makes automated bank settlements it’s a great pick to elevate your business’s financial accuracy. Efficient tools that are handy to apply Sage are accessible from several devices. Works with subscription-based accounting software along with payroll integration.
Pricing – flat rate of $10.00 per month
Free trial – 30 days free trial
Services Provided –
- Provides Bank Reconciliation
- Expense tracking
- Tax calculations
- Payroll Management
- Fixed Assets Management
- Prepares financial reports
- Purchased order management
Best for – Small to Medium Companies
Why a good option? –
- Handy to operate software interface
- Generate finance reports
- Clutter-free UI
- Quite an affordable pricing
6. Xero
Established in 2006 this accountancy and bookkeeping software has 3 million plus subscribers to date. Also, they come with a free trial of 30 days as well. With a clear approach towards the accounts online they give clarity upon finances and have made tax returns a cakewalk. On the platform, if you would like to collaborate with your teammates that will be easy too. Xero works fine for both IOS and Android.
Pricing – $12 per month for an early plan
Free trial – available for 30 days
Services provided –
- Expenses Management
- Send Invoices
- Bank Connectivity
- Payment integration with Stripe, Gocardless and others
- Job tracking is available
- Automatically saves documents
- Accurate reporting
Best for – Both Small & Large businesses
Why a good option?-
- Anytime cancellation
- Good Online Support
- two-step authentication ensuring promisingly secured interface
Conclusion:
We have reached the bottom of our list and we can now conclude here after looking at the services offered by the above-mentioned platforms that accounting software is inevitable for a business financial health and the options we discussed are the best-in-value accounting software to go for if you’re planning to get one.