Say goodbye to the burdens of the age-old three-ring binder bookkeeping files with accounting software, an efficient and systematic solution to business organizations of all sizes. Beyond the basic core accounting functionalities of general ledgers and bank reconciliation statements, the software also has powerful invoicing features like automatic invoice generation meant to speed up revenue collection for your enterprise. Accounting software offers in-built payroll services including calculating employee hours, processing payroll taxes, reimbursing expenses, direct account deposits. The software enables forecasting and budgeting modules that estimate future expenses, analyses current year financial performance, and predicts the upcoming year’s budget, in the form of dynamic reporting features that ensure real-time accuracy of data. It offers simple tax solutions to save you from irrelevant complexities. No special training is required to use the software as it can be easily operated by users with or without accounting knowledge, all thanks to its user-friendly UI. Therefore, get ready to streamline your financial process with the advanced end-to-end solutions and interesting third-party integrations that the below-mentioned accounting software have to offer you. Please take a look...
» What is Accounting Software?
A business account software helps in keeping a track on the entire cash inflow and outflow of an organization. There are different kind of modules present through which the software works such as General Ledger, Account Receivables, Account Payable, etc. The software also manages the payroll system and takes care of reporting management. These individual modules are basic and can be customized to match the functionalities of any particular industry. For instance, the fund accounting system of a non-profit organization will vary from that of a government organization. As account management is one of the essential systems of a business, it often comes under the Enterprise Resource Planning System (ERP).
Here are our top picks for the best Accounting software in 2020
- QuickBooks Online
- Zoho Books
- Odoo Accounting
- Wave Accounting
- Sage Intacct
- Sage 50cloud
- ONE UP
- Accounting Seed
- Sunrise by Lendio
- Deltek Costpoint
- Clear Books
- Focus 9
- NCH Express Accounting
- ZapERP Accounting
- AccountEdge Pro
- Cashflow Manager
» Our score is based on user satisfaction (reviews & ratings), social media buzz, online presence, and other relevant information. If your software is part of this list, use this badge on your website and social media to let your readers know about your success.
1. QuickBooks Online - Small business accounting software
About QuickBooks Online: Every business organization looks forward to incorporating customized means that eases overall workability and increases productivity. QuickBooks is one of the modern, scalable, and rich featured accounting software which fulfills work obligations by boosting efficiency. This software aids small and medium scale business through various customized plans. QuickBooks is easy to use software that tracks, calculates, organizes financial aspects, and making them perfectly effective to transmit over various departments. With QuickBooks, it becomes easier to import transactions, reconcile bank accounts, and know where the money is invested.
QuickBooks Online allows tracking of income-expenses, generate invoices, regularise payments, import invoices, maximize tax deductions, run and export reports including profit/loss, expenses, balance sheets, easily track cash flows and avoid surprise transaction. Additionally, it allows dashboard customization, custom chart builder, track KPIs, track deductible miles, categorize business and personal trips, forecast cash flows, generate financial insights, run custom reports, match certified bookkeeper, and connect with the later as per convenience. QuickBooks reduces your stress by automating bills, recurrent payments, activate Auto Payroll, Tax penalty protection, manage inventory, calculate sales tax, track project profitability, and create groups accordingly. QuickBooks is one of the best accounting software for a small business which suffices all the financial requirement through its three different plans. Available for the free trial, QuickBooks also provides virtual support to its customers; help them choose the plans accordingly.
QuickBooks Online Accounting Features : Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, Expense Tracking, Payroll Management, Tax Management
“I personally like the functions of QuickBooks Online and the advanced accounting nature for solving all the financial reporting issues. The automation of all the accounting operations makes this product unique and the best. It is not a complicated item to use. I see it as the best accounting tool.” - John C.
2. Xero - Accounting Software for SMBs
About Xero: Online accounting software for small businesses, Xero has been popular for its advanced features, online support, and customized dashboards. The software is equipped with the latest tools, structures, features, and resources to help the company run even during hard times. Xero is helpful for its remote access that allows you to check cash flows and transactions from any device; iPad, desktop, PC, tablet, or phone. This small business accounting software is organized, magical, smart, and simple. The software is also available as mobile apps to help you track bank reconciliation, send invoices, create expense claims, and forward payments.
Equipped with time-saving tools, you need to grow the business, Xero offers a professional environment for the company. With Xero, manage your cash flows by scheduling payments and batch paying suppliers, handle personal expenses and easily segregate from business expenses, create custom purchase orders, copy bills for payments, attach source documents for better finance management. Additionally, this business accounting software updates business exchange reconciles with foreign currency, integrates with more than 800 apps to manage inventory, expenses, invoicing, and time-tracking. Xero is a smart software with more than 2 million subscribers who sought easy solutions for accounting management.
Xero Accounting Features : Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, CPA Firms, Expense Tracking, Fixed Asset Management, Fund Accounting, Government, Nonprofits, Payroll Management, Project Accounting, Purchase Orders, Tax Management
“Fantastic! I finally have the tools from Xero to drive my company to its greatest potential. It's so easy to share the reports with people at all levels in the company, and I feel a fantastic sense of control with the numbers because of Xero.” - Kristen B.
3. FreshBooks - Cloud Accounting Software for Small Business Owners
About FreshBooks: One of the best accounting software for small business, FreshBooks has been popular for helping the small business run smoothly and engage in profitable ventures. When you start a new business, you have to focus on its smooth venturing, profit-making, security, and handle tons of accounting activities. Since small and startup businesses lack resources, FreshBooks comes as a handy software that makes your business running smooth, fast, easy, and secure. This software is among the best accounting software for startups as it provides automated tools to manage your business hassle-free.
FreshBooks saves time by automating invoice reminders and putting the business on autopilot mode. It has become easier to generate insightful reports and keeping an eye on the financials that helps in making smarter decisions. With a customized dashboard, Freshbook keeps all your client conversations secured, handles projects, syncs with the team, and manages work schedules. The reports generated are easy to follow and powerful enough to understand and make business decisions. FreshBooks is a well designed, powerful, easy to follow, and functional platform to keep track of expenses, payments, and receivables.
FreshBooks Accounting Features : Accounts Receivable, Billing & Invoicing, Expense Tracking
"Freshbooks is a simple and straight-forward accounting solution. The biggest benefit we receive is how easy it is to send invoices and get paid online. Freshbooks makes this a lot easier than some of the other solutions we've tried over the years. Customer service - it's amazing. " - Richard I.
4. Sage Business Cloud Accounting - Easy cloud invoicing that gets you paid faster
About Sage Business Cloud Accounting: Sage is a popular cloud-based accounting software widely integrated by small and medium scale businesses. Trusted by more than 3 million people, Sage has been providing simple accounting solutions for the past 38 years. The software is one of the best accounting software for small business that not only manages your data but also keeps a track on money flow. For any start-up, it is important to manage the business and scrutinize new ideas without worrying much about the management and admin tasks. Sage solves your issues by eliminating the financial compliances, handling data, and making it available as per requirement.
Sage is online accounting software for small businesses that creates and sends online invoices, accepts payments, connects with your bank, and manages transactions effortlessly. From sales to purchase, cash flows, and reporting, Sage cloud accounting management software serves the business with commendable features. Additionally, Sage integrates with Microsoft Office 365 to provide a hybrid, complete accounting solution. It monitors and manages cash flows, optimizes sales, analyses performance, provides remote access, and compliances with various tax structures. Sage is an advanced solution that comes with a 60-day risk-free guarantee and full-time online support. Now, it’s no longer an errand task to maintain your receivables, payables, and money when Sage is available at your service.
Sage Business Cloud Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, Expense Tracking, Nonprofits, Payroll Management, Tax Management
"I would absolutely recommend Sage Business Cloud Accounting to other small business owners. It provides a low-cost way to manage invoices and expenses, and it helps you keep track of clients efficiently and neatly." – Everarde Calk
5. Zoho Books - Online accounting software for growing businesses
About Zoho Books: Zoho Books is one of the top accounting software that manages finances, keeps the company GST compliant, and automates business workflows. As your business grows, it becomes difficult to manage everything while focusing on business growth. Zoho Books integrates with other apps installed in the business system that run every aspect of a business. Right from negotiating business deals, raising sales orders, generating invoices, and accepting payments, Zoho Books handles mundane accounting tasks. The software helps in focusing on business without disrupting the workflow. Additionally, Zoho Books creates GST invoices, files tax returns, and helps the business to remain GST compliant.
Zoho Books creates e-way bills, automatically detects transactions, helps in capturing transport bills, calculate GST liability, enables push transactions, and segregate the supply of GST levied goods. Zoho Books of accounts chase every transaction, enable payment reminders, and provide the customers with online payment options. The payable feature incorporated in Zoho Books allows you to keep a track of your money. It has become easier to create and send purchase orders, upload expense receipts, keep a track of payments. In addition to handling cash, Zoho Books is capable of tracking inventory, replenish stock, organize stock, and generate vital information like stock costing, pricing, and stock in hand.
Zoho Books Accounting Features : Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, Purchase Orders
“I've not seen anything as affordable and easy to use as Zoho Books. The reports are simple to run and can be scheduled to generate automatically. As a small business owner, I no longer worry about ageing receivables with the automatic payment reminders in Zoho Books." - Stephen J. Lalla
6. Odoo Accounting - Online Accounting That Rocks
About Odoo Accounting: Among the best online accounting software, Odoo Accounting is evolving faster with growing users. For decades manual accounting strategy has pulled down business and resulted in slow growth. Odoo Accounting is an online, strategic, automatic, and a beautiful concept of recording every transaction in such a way that you are left with ample time to focus on business growth. Breaking all the misconception around errors of online accounting, Odoo Accounting brings you an all together automated accounting system. This is one of the most-used accounting software for its advanced features, real-time insights, time-saving tools, and automated electronic invoicing.
With Odoo Accounting integrated into the business, get your bank statements synced with your bank account automatically. Importing files, exporting, sharing desktop, creating invoices, managing recurring bills have become easier than following the conventional method. Odoo Accounting controls supplier invoices, manages expenses, bills, tracks payments, keeps a track of your money, saves time by automating reconciliation. If you are worried about missing receivables than Odoo automatically generates invoices and sets reminders for your debtors. The software is capable of creating beautiful reports, balance sheets, cash flow statements, carry out data comparison, and automatically create project tasks. Its time to unleash your business growth with this business accounting software available online.
Odoo Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, CPA Firms, Expense Tracking, Fixed Asset Management, Fund Accounting, Government, Nonprofits, Payroll Management, Project Accounting, Purchase Orders, Tax Management
“We looked at the functionality and realized the underlying functional value, combined with the cost, made Odoo the right choice for us." – Bill Graham
7. Wave Accounting - Accounting software that works as hard as you do
About Wave Accounting: An easy to use business accounting software is a boon for any organization. Wave Accounting software is a free, powerful, and smart option for organizations that are looking to unleash business growth. When you work hard for your business, you look forward to solutions that can be easily integrated into the system and allows you to focus on other aspects. Wave Accounting provides you an organized and stress-free accounting solution. The software offers a smart dashboard that organizes your income, expenses, payables, and receivables. Wave uses double-entry accounting software which largely makes it accountant-friendly software.
Wave Accounting is the best accounting software enriched with powerful bookkeeping features that makes it stand out among other accounting software. Track overdue bills, make payments, keep an eye on bank reconciliation, handle debit and credit cards, cash inflow and outflow, manage profit and loss, and many other relatable activities. Wave is accounting software that allows business owners and accounting professionals to gather all the relevant information into one financial system. The software accomplishes entire accounting duties, streamlines projects, and eliminates chances of human error. Wave Accounting allows users to create accounts for free. Being one of the best online accounting software for small business, Wave can be installed at no hidden price. Yes, it's free!
Wave Accounting Features : Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, CPA Firms, Expense Tracking, Fixed Asset Management, Fund Accounting, Government, Nonprofits, Payroll Management, Project Accounting, Purchase Orders, Tax Management
“My fav tool for invoicing & accounting is Wave. Totally free. Easy-to-use. And I love the interface. Check it out!" - Julienne Desjardins
8. Sage Intacct - Accounting software that lets you do more and do it better.
About Sage Intacct: Best scorer for the best accounting software for medium-sized business at the Gartner 2019 Critical Capabilities Report, Sage Intacct is true to what it offers. This core accounting software accelerates your team productivity by 40%, slashes your half-close time, and provides a bigger picture for business growth. The software streamlines workflow across the account payable cycle automates invoicing and collectibles, tracks multiple accounts with real-time visibility. Sage assists the business to handle multiple entities by overcoming the tedious conventional method of general ledger management. It handles multiple currencies and overcomes geographical barriers within a few minutes. Business with multi-dimensional success goals gladly opts for Sage Intacct as the business accounting software for its multitasking abilities and user-friendly features.
Sage Intacct automates complex, high volume cash cycles, improves profitability, advances order management. It helps the team achieve speed, accuracy, visibility, structured transactions, and approvals. This interactive accounting software is highly configurable and flexible. Designed as cloud-based accounting software, Sage Intacct brings robust technology into the conventional organization; turning it into a smart and modern profit-making business. This best of breed interactive solution has garnered the highest customer satisfaction in terms of services, features, usability, and pricing. The product offers a live demo to help you understand its best features and let you decide its benefits in the business.
Sage Intacct Accounting Features: Accounts Receivable, Bank Reconciliation, Billing & Invoicing, CPA Firms, Expense Tracking, Fixed Asset Management, Fund Accounting, Nonprofits, Project Accounting, Purchase Orders, Tax Management
“This tool has been designed in such a way that it will fulfill the need of the small to medium size business setups. It is very reasonable in cost and provides you a free hand to work on remote basis as well. We will surely recommend this tool for better handling the vendors.” - Austin M
9. Crunch - We Love Accounting, so you don’t have to
About Crunch: Crunch is the only business accounting software that loves accounting as much as you are concerned for the business. Easy to use, pocket-friendly, expert-support, and jargon-free; Crunch is trusted by more than ten thousand contractors and freelancers. One of the best accounting software for small businesses, Crunch is perfectly designed for the companies established all over the UK. The software offers customized packages to select from, depending on the client's requirement. It provides the ultimate solution for sole traders, freelancers, contractors, income workers, LTD companies, consultants, and small and growing businesses.
So what makes Crunch a sought after accounting software? The answer is its incredible, user-friendly features. Crunch acts as your bookkeeper, accountant, and dedicated assistance. The electronic accounting software provides real-time dashboards to help you get an immediate view of business performance. The software manages your expenses and tracks your income from various sources. Crunch automatically tracks invoices and makes it easier to generate your receivables. Additionally, if you are a start-up company, Crunch acts as the best online accounting software for startups. The team helps the business with its formation and explains everything to make sure you do not incur additional costs or pay taxes.
Crunch Accounting Features : Accounts Receivable, Billing & Invoicing, Expense Tracking, Tax Management, Bank Reconciliation, Payroll Management, Purchase Orders
“Happy Customer since 2014. Since using Crunch our accounting has been simple and stress-free. The software is fantastic, easy to use, intuitive and reliable. The large team of dedicated accountants and account managers are excellent, highly-skilled, responsive and very helpful. Highly Recommended." - Anthony
10. FreeAgent - Accounting software for small businesses
About FreeAgent: A software that takes care of your taxes, accounts, bookkeeping, is a boon for small scale business. FreeAgent is award-winning accounting software for small businesses that allows you the mobility to run the business from anywhere, manage expenses, pay off invoices, check cash flows, and calculate business tax at just one click. Portraying a well-designed, customized, and user-friendly dashboard, FreeAgent gives you an overview of your business. Either you hire an accountant or chose to do it by ownself, FreeAgent allows it all. The automated accounting and bookkeeping system builds your accounts in the background, saves time on admins, and allows access to all your business financial reports with ease.
FreeAgent automatically builds real-time business accounts by evaluating bank statements, invoices, expenses, and entries passed throughout the year. This accounting software provides a comprehensive set of reports for Profit/Loss, Balance Sheet, Trial Balance, Debtors, Creditors, Dividend reports, vouchers, etc. FreeAgent is more likely an automated accounting software that takes charge of repetitive admin tasks. Introducing a new way of working, FreeAgent delivers dual benefits to both the business and its accountants. The FreeAgent mobile app is iOS and Android friendly which makes it quick and easy to update your accounts. The double-entry accounting system keeps your financial records up to date.
FreeAgent Accounting Features: Accounts Receivable, Bank Reconciliation, Billing & Invoicing, Expense Tracking, Fixed Asset Management, Project Accounting, Payroll Management, Purchase Orders, Tax Management
“Any #freelancers who share my phobia of accounting should use @freeagent. Dare I say it, but I actually had fun creating my first invoice...” - Alain Roy
11. Workday - Fresh approach to financial management
About Workday Financial Management: Workday is a cloud-based financial management system that brings your accounting, consolidation, procurement, reporting, projects, and analytics into one single platform. This software provides unparalleled insight into the financial status of your company and advances better control over the accounts management. Workday is one of the best accounting software available in the market as it embraces the organizational process without disrupting your everyday business chores. The software goes beyond the basics of accounting and gives you real-time business control. Understanding actionable reports, making timely decisions, managing embedded activity, are few activities that make Workday at par.
Workday stands out among the list of accounting software for its global operation, multicurrency capabilities, and impeccable features. From audit management, revenue management, reporting, analytics, consolidated balance sheet, financial planning, strategic sourcing, project management, Grants management; Workday software provides them all. The software meets multinational requirements with country-specific configuration. Businesses can now reach new levels of financial efficiency by utilizing in-memory accounting and reporting features offered by Workday. The software allows easy sharing results on the dashboard, scorecards, and configurable KPIs. Additionally, companies can manage cash transactions, forward payments, and track bank accounts, signatories, activity fees, and cash positions as well.
Workday Financial Management Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, Expense Tracking, Fixed Asset Management, Government, Nonprofits, Payroll Management, Project Accounting, Purchase Orders, Tax Management
“Best software for financial management and reporting. It provides accurate reports and financial tools thus proving to very reliable. It can be used to generate monthly and annual reports therefore help in future financial forecasting." – Dennis M.
12. Kashoo - Simple Cloud Accounting for Small Businesses
About Kashoo: Invest your 28 minutes per year on simple cloud-based accounting software like Kashoo and see your business grow rapidly. If you have a small business, then this is not a joke! Kashoo is one of the best accounting software for small businesses that sorts a whole year’s worth in lesser time than it takes for an accountant. The software allows you a free account to check what it has to offer. From tracking expenses, managing cash in hand to paying your tax, Kashoo is there to do it all!
The smart software changes the way you run your small business by offering an array of features. Generate automated reports that instantly update and runs your business, make professional-looking invoices, and receive instant payments and automate tracking expenses to make your job easier. Kashoo is doing an incredible job by linking your business with bank accounts, syncing them perfectly, and uplift business’ financial health. The software helps you segregate personal expenses from business expenses, manage cash flows, and bank transaction with just one click. This incredible software is available for a free trial and personalized pricing facilities.
Kashoo Accounting Features: Accounts Receivable, Bank Reconciliation, Billing & Invoicing, CPA Firms, Expense Tracking, Payroll Management, Project Accounting, Tax Management
“Every time I have an accounting problem, I would send a request and get my answer back literally within minutes. The interface is also simple and elegant and easy to use. It wasn’t as complicated as Quickbooks and I spent a fraction of the time learning how to use it!” - Kathi Jones
13. Sage 50cloud - Providing trusted accounting solutions for over 38 years
About Sage 50cloud: Support your business and stay connected with Sage 50cloud. Integrated with Microsoft 365, this cloud-based accounting software is an easy to use hybrid accounting software. This complete software solution helps in tracking inventory, provokes cash flow management, automates banking feed, and generates cloud backups. Sage 50cloud is a trusted, reliable solution that provides easy to use managing key for business management. The platform is one of the best accounting software for small business empowers entrepreneurs to operate the business more efficiently and productively. This platform is trusted by more than 3 million people worldwide for its epic features and reliability.
This unique accounting platform focuses more on other important aspects than completely emphasizing on accounting. It helps in monitoring financials and cash flow easily keeps track of the customer’s project, records purchases, and expenses, optimizes sales, serializes inventory. This most used accounting software analyses performances and offers a one-click dashboard instantly. Sage 50cloud further offers remote access by allowing multiple users to perform multiple tasks remotely by downloading Sage Drive Multiuser. Protecting your finances with advanced security facilities, Sage 50cloud is popular with the business for its compliance with taxation and payroll as well. The product is available with a 60-day risk-free guarantee and personalized pricing policies.
Sage 50cloud Accounting Features: Accounts Receivable, Bank Reconciliation, Billing & Invoicing, CPA Firms, Expense Tracking, Fixed Asset Management, Fund Accounting, Government, Nonprofits, Payroll Management, Project Accounting, Purchase Orders, Tax Management
“We've been in business for over a hundred years. We are still following my grandmother's recipe. We've been using Sage for 20-plus years. We've explored other accounting software. It just did not perform as well as Sage is doing for us now.” - Tim Louie, President
14. ONE UP - Small Business Software - Accounting, Inventory, Invoicing & CRM.
About ONE UP: Bookkeeping is the most important part of accounts, is a tedious task that can be achieved by installing a simplified, smart accounting software. ONE UP is an example of one of the best accounting software which does all the hard work for you by setting up your bank and synchronizing your accounts. ONE UP is one of the fastest online accounting software for small business owners and accountants. ONE UP retrieves daily bank transactions, matches them with your choices, and pops up options after a few days. The software understands your behavior and validates suggestions accordingly. This is a smart feature that helps the users in finding bank entries within a few seconds without wasting much time.
ONE UP is a unique bookkeeping software that matches bank transactions with overdue invoices, existing vendor bills, bank transfers, or creates a new one when required. The software delivers cashflow and profit information on an everyday basis, to help you stay on top of your finances and remain informed as well. ONE UP features a tax calculator to help you calculate periodic sales tax and know exactly the financial position of the business. At the year-end, ONE UP allows you to share the books of profits and loss with designated software outside the business for auditing and taxation purpose. Additional features include inventory, invoicing, and CRM which are fully available on desktop and mobile versions.
ONE UP Accounting Features: Accounts Receivable, Bank Reconciliation, Billing & Invoicing, Expense Tracking
“We researched many, MANY systems. OneUp has everything we need, and is super slick and easy. Access anywhere any time was also important, so being online-based is perfect for us.” - Alain Roy
15. ZipBooks - Simple accounting software that makes you even smarter.
About ZipBooks: ZipBooks is simple accounting software that gives you a smarter way to record books of accounts and maintain a profitable business. Over the years, the developers of ZipBooks are bringing out the best features to help small business in every aspect. From managing professional level invoices, reporting, and recording bookkeeping, ZipBooks gives you smart insights into the business. This powerful accounting software for small business surpasses all the expectations that one can have from any accounting software. Equipped with multiple features, ZipBooks balances your work by auto-categorizing transactions.
ZipBooks lets you create beautiful, customized invoices, in a few seconds. It connects your bank accounts and credit cards to save time and update. The business accounting software manages taxation in addition to handling bookkeeping. From handling back-office operations from multiple locations to balancing accounts books, ZipBooks keeps immaculate records for your business. The software provides a smart way to track all your transactions, keep on the top list of your creditors, and figure out how much profit you actually earn. Additionally, the software gives you day-to-day updates and intelligent feedback to improve your transaction, make wise tax decisions, and cut down unwanted expenses. From free starter plans to three varied customized plans, ZipBooks sorts your bookkeeping issues smartly.
ZipBooks Accounting Features: Accounts Receivable, Bank Reconciliation, Billing & Invoicing, CPA Firms, Expense Tracking, Fund Accounting, Government, Nonprofits, Payroll Management, Project Accounting, Purchase Orders, Tax Management
“After trying multiple platforms, ZipBooks proves to surpass all expectations. They make bookkeeping a breeze. Would recommend a thousand times over because it has been crucial to my business growth.” - Laine Napoli
16. ZarMoney - Cloud-based accounting solution that helps businesses of all sizes
About ZarMoney: An advanced cloud-based accounting software; ZarMoney is one of the powerful platforms that grow with you. Equipped with multiple features, ZarMoney is professional-level software that balances your inventory and keeps your books of accounts updated. From invoicing, managing bills, offering complete visibility of inventory, and advancing payments; this software does it all! ZarMoney, the best accounting software for small and medium-sized businesses, gives you instant access to more than 40 built-in and hundreds of customizable reports for all business functions. Thousands of small and medium-sized businesses are choosing ZarMoney for its financial tools and smart pricing solutions.
ZarMoney manages the status of sales order, automatically notifies customers, and provides payment terms and early discounts. In addition to managing business customers, the accounting software creates and sends professional quotes and estimates, converts them into orders, automatically prints invoices, and maintains customized contracts. With sales orders, ZarMoney smartly handles purchase orders, generates credit bills, tracks payments, and automatically detects liabilities. The advanced features include hyper security by limiting access to desired staff, provide password protection, and restrict access based on computer locations. With this unique business accounting software, businesses can manage their inventory, handle bank transactions, automatically calculate taxes, prepare tax filing reports, and create advanced comprehensive reports.
ZarMoney Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, CPA Firms, Expense Tracking, Fund Accounting, Nonprofits, Project Accounting, Purchase Orders, Tax Management
“Great accounting software. I switched from other software to Zar due to the full functions it offered. Some things that it has that other don't . Just to name one. Generate PO for product purchase plus all the packing and receiving that goes with it.” - Tim G.
17. myBooks - Empowering small businesses to better manage their finances.
About myBooks: Empowering small scale business, myBooks is one of the best ways to manage business accounting online. Overcoming the conventional accounting style, myBooks is the best response to all the loopholes that inherent over the past few decades. Termed as the best accounting software for small business, myBooks fulfills issues related to information gaps, inaccuracies, agonizing lead times, and overheads. Accounting software is popular when it does not hurt the financial condition of your business; myBooks is one of the most-used accounting software as it is affordable, easy to integrate, and equipped with the right features to democratize leading technologies.
myBooks is free accounting software that syncs all financial activities in one place. The software connects your bank and imports transactions automatically in the software. It provides a single desktop to view each transaction without worrying about manual entries. The platform is easy to use, simple business accounting software that does not call for any computer degree. It is easy to configure and set up so that real work can be carried out sooner. myBooks accounting software is one of the best accounting solutions for enterprises, small entrepreneurs, freelancers, small IT, accountants, and financial companies.
myBooks Accounting Features: Accounts Receivable, Billing & Invoicing, Tax Management, Bank Reconciliation, Purchase Orders
“myBooks helped me get paid on time from my customer and appear more professional to my customers ,Excellent features, excellent value, excellent support. Thanks for myBooks team." – Richard taylor
18. ART - Striking insight into balance sheet
About ART: ART accounting software is among the most used accounting software that not only improves business ability but also equips executives with striking insights to business financial position. The software utilizes algorithms to perform reconciliation and help business executives understand gradual changes in the business. It provides real-time dashboards to monitor status, exceptions, transactional matching between data sets to understand the company’s development. With this exceptional business accounting software, executives can manage and automate a close checklist during the financial reporting process. ART links task activity, documents, balance sheets to enhance the reconciliation process.
The software is a modern, advanced way to understand the financial position of a business through a real-time dashboard, role-based access to key reports, and real-time grading. Unlike most of the small business accounting software, ART certifies and validates the balance sheet, certifies account ownership, account balances, and exceptions. The powerful workflow management and automated tools make the business efficient and productive like no other business. ART generates powerful, easy-to-follow, reports that securely access current and prior period data. Reports generated are available in multiple formats that can be emailed, archived, and signed off straight from the software for better evaluation. This accomplishing software is available through an online website on request. Do away with manual and cumbersome spreadsheets with ART’s visually impressive dashboards and features.
ART Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, CPA Firms
“The software is straightforward and easy to use both from an admin and user perspective. Set up and monthly maintenance is simple. What I like the most about using ART is the customer service. The response time is quick no matter what time I reach out to them for help. – Joel
19. FinancialForce Accounting - Financial Accounting Software
About FinancialForce Accounting: FinancialForce Accounting is innovative, top accounting software that every business needs to include to withhold complex business requirements. This leading cloud-based accounting software is a native to Salesforce CRM. The software is designed to suit all types and sizes of business, a flourishing technological environment, and providing the best accounting solutions. FinancialForce Accounting allows you to view real-time profit/loss reports, speed up bookkeeping processes, automate data analysis, and deliver customized interactive dashboards. FinancialForce Accounting includes multi-dimensional accounting components such as global taxation, multi-company management, and multi-currency. It eliminates geographical barriers for the companies and allows them to grow over various countries, different continents, and areas.
FinancialForce Accounting is specifically designed for fast passed growing enterprises. The software delivers fast, secure, and safest accounting solutions to the enterprise that plans to grow by defying multiple hurdles. FinancialForce Accounting streamlines, automate, and simplifies financial operations on the Salesforce platform. It provides a flexible general ledger, the automated billing process, and a smart interactive business process. This in-class ultimate accounting solution is available for a free demo. Its supportive customer service is vouched by millions of users. The product comes with varied pricing plans that can be viewed and evaluated through its online portal.
FinancialForce Accounting Accounting Features: Accounts Receivable, Bank Reconciliation, Billing & Invoicing, Expense Tracking, Fixed Asset Management, Fund Accounting, Project Accounting, Purchase Orders, Tax Management
“With FinancialForce, we now have a fully automated snapshot of our business. We get all the financial data from beginning to end, from the first opportunity, through the sales cycle, through invoicing, payment, and reconciliation.” - Corrine Hua
20. Plooto - Accounts Payable, Accounts Receivable, Payments Workflows
About Plooto: Topping the list of accounting software for small and medium-sized businesses, Plooto is an all-in-one payment platform. Accounts payables and receivables are the most intricate components that every business struggles to conquer. Delivering best payment solutions for financial control, unifying payments, approvals, and reconciliation; Plooto is one of the best accounting software that a business can ask for! Plooto streamlines Account receivables, global payments, account payables, for the clients efficiently and increases overall team productivity. Whether it is a domestic or an international client or vendor, Plooto makes it easy to pay through and reconcile with your accounting software in one place.
Plooto reduces touchpoints for every transaction, review and approve payments before any funds are transferred, and eliminate complexibilities. This unique payment software eliminates worries about where your money goes or when they will arrive by keeping you updated through each transaction. Additionally, Plooto sync two-way with top accounting software like Xero and QuickBooks for smart accounting solutions. This integration saves businesses from data entry errors and inefficiency, providing accurate books with absolutely zero effort. The smart transformation solution to your financial operation is available for a one-single plan with customized add-ons. It provides free collaboration with professionals, unlimited users, free accountant, unlimited access, and live support.
Plooto Accounting Features: Accounts Receivable, Bank Reconciliation, Billing & Invoicing, CPA Firms, Expense Tracking, Payroll Management, Purchase Orders
“Plooto has played a tremendous part in facilitating Adbloom's global growth. It saves us hundreds of hours and thousands of dollars, efficiently handling thousands of payments each month.” - Varun Sehgal
21. Accounting Seed - Accounting software on Salesforce
About Accounting Seed: Transform your business by integrating modern, innovative, and robust financial solutions. Accounting Seed is one of the strategic, proactive, and most used accounting software. This desktop accounting software is a flexible, connected, trusted, and collaborative solution to transform your business. Accounting Seed meets each complex requirement of the business with unified and simple solutions. By increasing data visibility for stakeholders, the accounting software enables a 360-degree view of your business. The software offers unique features that eliminate uncertainties and errors to give the business a new height. The users are surprised with easy to use, financial management platform.
The accounting software is a single, efficient, authoritative source of financial data that eliminates conventional methods of accounting. By providing advanced, easy to use, the platform that offers countless customization, Accounting Seed has become the best accounting software for medium-sized business. From the automated billing process, general ledger management, inventory and order management, project accounting, and Salesforce connection; Accounting Seed offers an undulated solution for your business. This cloud-based accounting software is among the industry’s elite software which empowers you to make your business strategically run and derive profits. Tailored to accommodate the company’s requirement, irrespective of size, Accounting Seed offers various pricing facilities to choose from.
Accounting Seed Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, Expense Tracking, Fixed Asset Management, Fund Accounting, Government, Nonprofits, Payroll Management, Project Accounting, Purchase Orders, Tax Management
“We spent a lot of time looking for an accounting solution, and Accounting Seed met all of our expectations. The app is very easy to customize, and we were able to get exactly what we wanted." – Emily Tam
22. NetSuite - Cloud ERP and business management suite
About NetSuite: A cloud-based accounting software, NetSuite seamlessly couples as a financial advisor, compliance manager, and performance manager for the business. One of the most used accounting software, NetSuite helps the financial leaders to design, transform, and streamline the business process and financial management. The software is the sole reason behind better financial efficiency, reducing back-office cost, and improved business performance. Providing real-time access to financial data, NetSuite quickly drills into details and disclosures, generates statements, resolves issues, and complies with multiple regulatory financial compliances.
NetSuite is specially designed to meet the requirements of the software that can effectively manage all the business aspects through impactful features. This business accounting software transforms general ledger into dynamic business assets. This enables the companies to tailor general ledger to meet the unique business requirements. It provides flexibility to professionals’ offers better visibility, rich reporting functionality, and enhanced audit trials. Additionally, NetSuite offers optimized receivables, and accelerate cash flows with total control. NetSuite automates AP, improves liquidity, mitigates funding gaps, realize higher profits, and automates invoices for better viewing. Termed as the number one cloud-based accounting software, NetSuite manages tax, monitors cash, and doubles up as payment manager for the company at the most affordable price!
NetSuite Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, Expense Tracking, Fixed Asset Management, Nonprofits, Project Accounting, Purchase Orders, Tax Management
“It wasn’t until I used a different software for CRM, Inventory, and reporting that I missed using NetSuite. It was simple to have different roles and permissions for departments like marketing, finance. The reporting was easy to set-up daily/weekly/monthly reports and have them emailed straight to your inbox.” – Tara H.
23. AccountMate - Customizable accounting software with inventory tracking
About AccountMate SQL Software: One of the best online accounting for small business, AccountMate SQL provides a comprehensive accounting solution with real-time features. Designed to accommodate hundreds of concurrent users, the software is a modifiable, easy to use platform for business that works hard day and night to achieve success. Due to its flexible design, AccountMate allows the users to customize and fit into the business process. AccountMate is cloud-based accounting software with numerous awards and accolades in its pocket. AccountMate SQL delivers seamless data migration, easy upgradation, and software customization to its users. Equipped with powerful desktop tools, AccountMate offers instant access to various Microsoft applications as well.
Suitably one of the best accounting software for small business, AccountMate offers a vast range of features for growing business in addition to various products suitable for different styles of business. The software forwards system-wide tracking of data which helps in strengthening the company’s internal controls and audits. Users can secure bank details, reconciliation entries, with user-definable password policy and fraud protection features. It also provides a multi-segmented chart of accounts that showcases a flexible analysis of business accounting structure and supports complex business costing. AccountMate supports multi-lingual, multi-currency transactions along with cross-global operations. Offering various features such as accounts payable, receivables, consolidated ledger, bank reconciliation, custom field manager, and inventory control, AccountMate SQL is one of the best desktop accounting software for medium and small scale business.
AccountMate SQL Software Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, Fund Accounting, Payroll Management, Purchase Orders
“Excellent software for our small business. It handles all of our needs efficiently. Also, with add-on programs such as F9 and custom invoice imports from our other software programs, Accountmate saves hours of data entry. – Angie L.
24. Sunrise by Lendio - Simplify your bookkeeping and save money
About Sunrise by Lendio: Sunrise is free accounting software for small business, changing the conventional way of account handling. Supporting the current pandemic situation and other major discrepancies faced by small scale business, Sunrise is providing features beyond bookkeeping. The software is a major winner because of its ability to focus on business growth without involving the business admin personally. In a few easy and advanced steps, it is perfectly simple to create a business account and allow Sunrise to support you unduly. Sunrise easily matches and categorizes expenses, links your bank accounts, reconciles every credit and debit. It displays business data on easy to follow customized reports.
Sunrise is a user-friendly business accounting software that provides entire data at just one click. It has become easier to evaluate profits and loss, track balance sheet, and know business position without extracting each transaction. With Sunrise Pay, generating invoices are also easier and faster. Business owners can customize and automate recurring invoices for both payables and receivables. Sunrise Tax Assist is another amazing feature that simplifies the entire tax system for new business owners, offers professional guidance, and takes away tax burden. This complete package of intricate features is available for free if you are using self-services. However, corporate and early bird packages differ based on your requirements.
Sunrise by Lendio Accounting Features: Accounts Receivable, Bank Reconciliation, Billing & Invoicing, Expense Tracking
“I already have and will continue to recommend this service to all I know, because of the unlimited ability within this accounting software. Thank you, Sunrise.” - Danny Jasso
25. Deltek Costpoint - The Trusted ERP Accounting Software
About Deltek Costpoint: Deltek Costpoint, one of the top accounting software is a performance-oriented financial platform. Offering three-dimensional financial architecture, innovative features, and accelerating strategy; Costpoint is among the most used accounting software. Deltek Costpoint acts as Project accounting software that helps in ensuring the financial transaction is tied to the projects, an organizational unit, and financial accounts. It allows you to track project costs for each transaction related to the project, expenses, and revenue generated. Deltek project accounting software is equipped with built-in billing and revenue recognition formulas, rules, and superior invoicing solution. It has the potential to successfully convert time into cash, much faster than its any other counter software.
What makes Deltek Costpoint different, is its innovative financial architecture to automatically integrate every transaction with the project for ultimate cost control. The software is designed in compliant to FAR, CAS, and DCAA, thus covering audit on various costs incurred, pre-award, timekeeping, executive pays, and billings. Deltek is designed to generate accurate data reports which give unique, real-time insight to the projects and business. Costpoint also includes financial reports like Balance sheet, Cash flow, Profit and loss statement, Income Expenditure statement. Additionally, this leading solution-based provider offers multi-dimensional views of corporate and project information that aligns your business objective to derive profitable results.
Deltek Costpoint Accounting Features : Accounts Payable, Accounts Receivable, Billing & Invoicing, Expense Tracking, Fixed Asset Management, Government, Payroll Management, Project Accounting, Purchase Orders, Tax Management
“I use costpoint daily at my job and the software is very easy to navigate. I have no issues searching for BOMs (Bill of Materials) and costpoint interacts relatively seamlessly with the systems that we use for engineering drawings and shop floor instructions.” – Tina D.
26. BlackLine - Accounting Process Automation
About BlackLine: A unified cloud-based accounting software, BlackLine allows its clients to close the books from anywhere-home or office. Offering advanced accounting solutions, BlackLine has been popular among high profile Fortune companies for more than a decade. The software offers balance sheet integrity, close process management, accounting process automation, and high performance. Equipped with global accessibility and standardization, BlackLine unifies all compliance documentation, stakeholders, and projects to maximize visibility. It links controls to related risks, narratives, projects, and ensures control across vivid records.
This modern business accounting software delivers a purpose solution exclusively for medium-sized businesses. BlackLine is a result of discussions and learnings acquired from thousands of customers. The software has mapped achievable routes for medium and enterprise-level companies. Breaking the conventional methods, BlackLine provides an expert vision for companies to achieve modern goals. The software offers complete transparency, customized dashboards, synced reports, visibility to the financial condition of the company, integrates transaction with projects, manages business complexity, mitigates risks, by leveraging leading practices. Implementing BlackLine into the company is a straightforward and simple method. one of the most organized and smooth running software, BlackLine is one of the best accounting software for medium-sized businesses.
BlackLine Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, CPA Firms, Fixed Asset Management, Fund Accounting, Payroll Management, Tax Management
“Great tool for balance sheet recs! It provides visibility and consistency to balance sheet recs. Fairly easy to use. Several different templates available pre-built." – Debby B.
27. Pandle - Free Accounting Software For Small Businesses
About Pandle: Pandle is one of the top accounting software which simplifies bookkeeping. The software is available worldwide through its website at different plans. Available for free trial as well, Pandle offers you a variety of features and activities to choose from. Pandle is available through mobile apps that offer mobile access to its users. One of the best accounting software for small business, Pandle helps small businessmen become brilliant bookkeepers. This cloud-based accounting software is designed by keeping real people in mind. Pandle is a comprehensive approach to online accounting with simplified features. With Pandle integrated into the business, streamlining bookkeeping and managing small scale business may become a child’s play!
Pandle is easy to use, efficient, and accurate accounting software. It automatically imports banking transactions, credit card statements before recording it into the software. Pandle Pay ensures efficient cash flows by including payment links on the customer invoices. The software uploads pictures of the receipt and attaches them with every transaction for better viewing. Pandle creates and sends invoices using creative templates, sets payment reminders, sends customer invoices, maintains profitability, and calculates sales tax. The software is equipped with functions that help your staff access and maintain financial transactions with ease.
Pandle Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, Expense Tracking, Fixed Asset Management, Project Accounting, Purchase Orders, Tax Management
“I particularly like its simplicity and intuitive interface, which is important to someone like me who does not like bookkeeping." – Jim Binning
28. AccountsIQ - Powerful Cloud Accounting Software solution
About AccountsIQ: Simplify your financial accounting with this unconventional, award-winning, one of the top accounting software. AccountsIQ is one of the best accounting software for medium-sized businesses that consolidates, manages accounting and business intelligence under one roof. This cloud-based accounting software improves productivity, streamlines processes, and gives financial teams better business insight. Specially designed for medium scale business, AccountsIQ helps in overcoming the tedious, traditional financial recording methods by providing real-time features. The system is robust, extremely flexible, and ideal for accomplishing complex accounting requirements. The structure of the framework in AcountsIQ saves the companies from preparing external financial reports.
AccountsIQ delivers unified results for multiple companies from multi-location groups. The software eliminates errors, provides a clear view, flexibly integrates into the third-party system. This cloud-based business accounting software is highly configurable that can change customer’s requirements. It provides rich information regarding every transaction, payables, and receivables. Providing financial security to the companies, AccountsIQ also provides paperless approval of workflow. Get this informative, feature-rich software for extremely affordable pricing that suits your organizational requirements.
AccountsIQ Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, CPA Firms, Expense Tracking, Fixed Asset Management, Fund Accounting, Government, Nonprofits, Payroll Management, Project Accounting, Purchase Orders, Tax Management
“AccountsIQ is really excellent. It's intuitive, simple to use and the implementation was outstanding. Now we have complete transparency and visibility of our financials. We can easily drill down to individual transactions and even down to items on an individual invoice without having to pull out any invoices or backups." – Anne
29. Clear Books - Online accounting software for small businesses
About Clear Books: One of the best accounting software for small business, Clear Books is the only platform that makes you feel calm and confident when taking financial control of the business. A simple tool, Clear Books helps in taking control of invoicing, purchase tracking, financial reporting, and payables. Being one of the best tools for accounting, Clear Books is popular among small freelancers, contractors, builders, and sole traders. They not only find it easy to handle cash transactions but manage payables with just one tick in no time. This online accounting software boosts spotting areas that are less valuable for profit, thus directing financial resources into a viable, profit-generating corner.
This quick and professional online accounting software takes control of your invoice, creates and sends professional, customized invoices, tracks business bills, gain clarity and confidence with each transaction recorded. Clear Books allows its user to manage bank reconciliation, allocate bank transactions to invoices and purchases. The software is built with an extreme understanding of the user’s demand. It helps the users in keeping calm by offering miraculous desktop to handle invoices, track transaction, sort, and list and filter customer and supplier’s transaction. Making business decisions is another bottleneck for sole traders and new businessmen. Clear Books helps in making business decisions, submit information to HRMC, and generate automatic tax reports confidently. The software is successfully used by more than one million small business units.
Clear Books Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, Expense Tracking, Fixed Asset Management, Government, Payroll Management, Project Accounting, Purchase Orders, Tax Management
“Easy to use and has great tools to work with. reports are very useful and helpful to get a good overview of how business is going. Saves time and is effciient. i would recommend to any small business. – Pia D.
30. Traverse - Complete ERP and Business Management Software
About Traverse: OSAS Traverse is a real-time financial accounting and business intelligence software for everyday accounting and business management. This is one of the best business accounting software which covers entire nuances of managing accounts, ERP, and decision making. A business is well run when the costs are reduced, compliances are managed, and customers’ demands are fulfilled. OSAS offers a complete ERP solution and fully integrated accounting software to meet all the requirements for the manufacturing, distribution, accounting, and ERP requirements of a business.
With OSAS Traverse, the financial core of your business is in good hands. The software delivers insight to capitalize on new opportunities, maximizes efficiency and productivity, interactive dashboards for better decision making. This interactive platform customizes dashboards to fulfill specific needs. OSAS Traverse is an altogether affordable solution to adapt to frequent changes and maintain your accounting system steadily. From maintaining the general ledger, accounts payable, receivables, human resource management, payrolls; OSAS Traverse plays proxy to all! What more, OSAS Traverse offers bank reconciliation, fixed asset management, liabilities management, banking applications which reduces time and errors automatically. The product is available through its website, and you can ask for a demo to know your usage.
Traverse Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, CPA Firms, Fixed Asset Management, Payroll Management, Project Accounting, Purchase Orders
“Great tool! The user can customize lot of reports, set his favorite views and has tons of features. If the user knows Excel, this program is very friendly and can be learned really fast." – Lyderma F.
31. DEACOM ERP Software - Accounting in DEACOM ERP
About DEACOM ERP Software: Financial management is the most critical aspect of any business which cannot be handled manually. Integrating effective accounting software such as the DEACOM ERP solution is one of the best decisions a company can make. The business accounting platform is among the list of accounting software that provides the necessary accounting functionalities required to run a business. DEACOM allows you to manage journal entries, basic ledgers, order terms, vendor invoices, accounts payable, receivables, and sales order invoices. Additionally, you can complete bank reconciliations, manage inventory costs, generate financial statements, report accounting statements, and perform multi-currency transactions.
With DEACOM ERP integrated into the business, users can accomplish tax accounting, automates sales tax, view time-based financial reporting, create budgets and compare actual results, and manage large scale projects. Not only accounts management, but DEACOM also simplifies the process of creating, scheduling, analyzing, and staging production jobs within a single ERP solution. DEACOM allows you to enforce quality control measures to manage your manufacturing process. The unique, flexible, simplified, easy to use accounting software helps the business in reaching new levels of financial accuracy. Now access your financial reports on a customized dashboard along with varieties of reports that include production, distribution, sales, and itemized analysis as well.
DEACOM ERP Software Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, Expense Tracking, Fixed Asset Management, Fund Accounting, Project Accounting, Purchase Orders, Tax Management
“As we have been growing, so too have the complexities around what it is we do on a day-to-day basis. We began our search for a new ERP system knowing that it not only had to fulfill the requirements we have today, but that it has to be able to quickly adapt with the business over time.” - Gerry McCullen
32. Holded - Cloud accounting software for modern businesses
About Holded: Holded is cloud-based accounting software for the modern business that offers complete control over the company’s finances. Holded offers multiple user-friendly features which lessen paperwork and automate business accounts to perfection. The software has an in-built automated Logbook that offers access to all company’s transactions with just one click. It also provides tracking of transaction details such as invoice numbers, dates, charges, etc. Holded precisely syncs with your bank accounts and helps in control your debits and credits without lifting a finger. It reconciles bank transactions by connecting with hundreds of banks; link your transaction in your statements to the relevant accounts and generating profit and loss statements for better evaluation.
Holded provides beautiful and customized reports for better analysis. Companies can make monthly and annual analysis reports, Profit and Loss, use the Balance Sheet to compare and forecast business processes. Holded offers a complete financial position of the business at just once clicks. It links all transactions, sales, purchases, and other data related entries. Additionally, Holded links the business account with various payment sides like PayPal and A3 Accounting and Stripe which takes care of your receivables and payables. The software is specially designed for all types of companies engaged in sales, financial operation, human resources management operations. Along with various customized standard plans, Holded is available for a 14 days trial period with free access to most of its features.
Holded Accounting Features: Accounts Receivable, Bank Reconciliation, Billing & Invoicing, Expense Tracking, Fixed Asset Management, Payroll Management, Project Accounting, Purchase Orders, Tax Management
“I have been using it for a year so far and I am honestly very impressed. It is saving me a lot of time and money. Everything is very intuitive, organized, well design and the accounting is made automatically!” - Oscar G.
33. FlexiFinancials - Process-Driven Financial Management Software
About FlexiFinancials: One of the top online accounting software, FlexiFinancials is delivering impeccable accounting services to its customers. Over the last two decades, Flexi has proved itself as one of the powerfully featured platforms to simplify complex business processes. Understanding various business requirements, Flexi helps in managing multi-entity books, frustrating audits, and stressful accounts. Equipped with a focus-driven approach that delivers tremendous benefits to manage financial aspects, FlexiFinancials has become one of the most-used accounting software. FlexiFinancials is an all-purpose cloud-based accounting software advantageous for the business from both cost and productivity point of view.
Flexi is designed to take a holistic approach to business requirements and work seamlessly for business growth. Delivering speed and performance, FlexiFinancials ranks high than most of the newly designed financial software. With a strong core financial management system, FlexiFinancials provides accounts payable, accounts receivables, general ledger management, purchasing, fixed asset management, project accounting, and financial reporting and analytics. FlexiFinancials automates the time-consuming manual task, decreases human errors, and dramatically increases productivity. Additionally, Flexi comes with a combined eSuite to manage invoice and billing management, vendor management, payment processing, and Expense management.
FlexiFinancials Accounting Features : Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, Expense Tracking, Fixed Asset Management, Fund Accounting, Government, Nonprofits, Project Accounting, Purchase Orders, Tax Management
“We can easily track thousands of fixed asset items – from purchase all the way back to the ledger. The integration between all of the systems that these transactions touch is really seamless and saves us a lot of time." – Alan Canivel
34. Xledger - Most Automated Cloud ERP
About Xledger: Modern business processes involve strategic and exhausting measures that cannot be accomplished with conventional methods. Xledger is one of the top accounting software decked with advanced automation and analytical capabilities to help businesses overcome their traditional accounting methods. The software is a unique approach that delivers cost-effective results for business growth. Xledger is a core accounting software that is compliant, fast, accurate, and advanced. This cloud-based accounting software is a standard solution that offers the latest updated version without taxing extra charges, time, and resources. Xledger has created keeping in mind the tough business management process and the need for personalized services.
Xledger offers multifold features that support the business in converting smartly. The software offers 320 pre-defined balance sheets and profit/loss formats to choose from. Along with a consistent number of customer-defiable dimension allocation across general ledger, bank transactions, and sub-ledger. The features also include multi-currency, multi-books and multi-dimensional entry management, real-time immediate financial consolidation, flexible chart of accounts, and many more. Xledger supports advanced vendor management and payment workflow that backs in automating data entries, safe pay validation, inter-company transactions, and various payment-related entries. The top features also include cash flow transactions and account receivables that give an insight into the company’s financial position.
Xledger Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, CPA Firms, Expense Tracking, Fixed Asset Management, Fund Accounting, Government, Nonprofits, Payroll Management, Project Accounting, Purchase Orders, Tax Management
“The insight we receive from Xledger is one of the greatest features of the system. The automation Xledger brings is outstanding. We have automated our billing, expense process and bank reconciliation just to name a few. With Xledger all of your numbers are real time.” - Bridget Foster
35. Focus 9 - Cloud ERP Software Solution Providers
About Focus 9: Every business requires an integrated ERP system that backs in business growth, eliminate complexities, and offers standardized modern solutions. Focus 9 is among the most used accounting software that gives better visibility across your business operation and reduces business complexities. This software is specially designed to suit all types of business irrespective of its size. Built with intelligent and advanced technologies, Focus 9 offers you simpler ways to manage an entire business with cost-effective measures. One of the best online software for medium-size businesses, Focus 9 is a comprehensive solution that streamlines business operations by combining the best business practices and modern approach.
Focus 9 is one of the top rank business software offering ERP solutions in countries like Singapore and Malaysia. The software is designed to propose a customizable dashboard, industry-ready templates, and user-friendly features. Loaded with immensely supportive functionalities, Focus 9 offers great expertise and flexibility that any business needs to deliver the best performance. This cloud-based accounting software is a scalable ERP solution, developed to support business expansions, accommodate exponential increase in data volume, and upgrade software at regular intervals. This ERP system empowers you with free access to data, alerts, and monitor workflows form anywhere and any mobile devices.
Focus 9 Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, CPA Firms, Expense Tracking, Fixed Asset Management, Fund Accounting, Government, Nonprofits, Payroll Management, Project Accounting, Purchase Orders, Tax Management
“Overall Good! Options are good, little flexible, crystal report can be developed, interface okay. It has option to develop crystal reports, unlimited masters available that helps in reporting and decision making. " – Ghulam M.
36. NCH Express Accounting - Express Accounts Accounting Software
About NCH Express Accounting: A professional level, business accounting software, NCH Express is perfect for small scale business. This online accounting software for small business helps in reporting online transactions, payments and receivables, outgoing and inflowing cash through sales, payments, receipts, and purchases. The software simplifies and organizes your bookkeeping and makes it look professional altogether. It easily tracks payments and deposit transactions, allows viewing of balances and reports. This impressive, interactive business accounting software saves time and allows you to completely focus on the business.
The software offers impressive financial accounting features that include instant profit/loss statements to know the current financial position of the business, balance sheets to know current liabilities and assets and analyze debtors and creditors. It also analyses customers and salesperson for the business. The software is available for multiple user access within the organization. It can also be used through mobile applications over a secured site. Whether the company is a multi-location or a single installation, Express accounting software is suitable for both cases. Express Accounting is suitable for business that wants to eliminate geographical barriers and flourish across different countries. The product is available online at minimum pricing plans and live support.
NCH Express Accounting Features: Accounts Receivable, Bank Reconciliation, Billing & Invoicing, Expense Tracking, Fixed Asset Management, Fund Accounting, Purchase Orders, Tax Management
“Inexpensive, efficient, easy to use accounting software for time-challenged small business operators. It makes business accounts management super easy, and it's super affordable.” - Lorraine C.
37. Aqilla - Cloud Accounting Software for Business
About Aqilla: Highly sophisticated, robustly designed, easy to use, accounting software; Aqilla is cloud-based accounting software. This platform is a mid-market, designed for the cloud, that stays ahead of most SME products like Sage, QuickBooks, and other counter software. With the capabilities of products like Netsuite, Microsoft Dynamics, and a few other highly designed software, Aqilla rules the market for its affordability and simplicity. The software is highly customizable to fulfill customer requirements and better integration in the business system. Other than accounts management, Aqilla is equipped with time and expense management. Easy integration with third-party tools like CRM, Spreadsheet, reporting tools, Aqilla is highly appreciable by new customers as it delivers immediate positive results.
Aqilla works with various large companies to deliver the best insight to business accounts, extensive business analysis, proper periodic management with integrated business calenders, built-in KPIs, scanned documents, and images. Also, to the document-centric approach, Aqilla manages sales ledger, purchase ledger, general ledger, sales invoicing, cash matching, inventory control, purchase order, purchase invoice, and expense processing. This online accounting software is a platform that grows simultaneously with the growing requirements of its users. Aqilla is secured, safe, feature-rich, flexible, and configured to meet individual requirements. What more? Aqilla saves you from going under costly training and consultancy by providing 24 hours of customer support.
Aqilla Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, Expense Tracking, Fixed Asset Management, Fund Accounting, Government, Project Accounting, Purchase Orders
“Well designed with a lot of great features for ease of use and analysis. Plenty of useful features, especially the user-defined attributes to analyze your accounting data. Goes well beyond just keeping the books. The people on the support hotline are helpful and knowledgeable." – Mike E.
38. ZapERP Accounting - Online accounting software for non-accountants
About ZapERP Accounting: Recognized as one of the world's top accounting software systems, ZapERP Accounting manages your finances, taxes, automates workflows, and collectively manages multi-department accounting integrations. ZapERP Accounting synchronizes with Xero to meet entire operational business requirements. The platform is cloud-based accounting software which additionally offers asset management, product management multi-currency, e-commerce channels, and inventory management. ZapERP is also known to offer automated accounting processes and manage multi-warehouse in association with QuickBooks. Equipped with multiple features rendered by top accounting software, Zap is a one-stop solution for your business.
ZapERP Accounting manages recurring expenses by just scanning and recording using Google OCR. These receipts can be scanned and reimbursed with 48 hours or less. The in-built time tracking system manages employees to progress through a pipeline view or Kanban chart. Zap manages to keep track of each work progress so that no effort goes unnoticed. This simple to use accounting software is intelligently designed to suit every business. Zap offers tons of integration with partner APIs like Tally, Zapier, Gmail where you can easily import and export data. Offering an easy-to-use reporting system, ZapERP displays a real-time position of your liabilities, GST, and Vat. ZapERP is easily available online with various pricing plans and discounts for its reverent customers.
ZapERP Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, CPA Firms, Expense Tracking, Purchase Orders, Tax Management
“Zap has helped me a lot in reducing stock theft within our organisation as we could not previously properly track incoming and outgoing items. We used to operate manually allowing for people to manipulate numbers and figures." – Ruvimbo M.
39. AccountEdge Pro - Powerful small business accounting software for Mac desktop.
About AccountEdge Pro: A powerful desktop accounting software, AccountingEdge Pro is popular among small business sectors and startup companies. Suitable for Mac desktop, the software helps in getting accounting right over an integrated system. AccountEdge Pro is a premium accounting software, easy to use, integrable solution for small businesses in any country. The software works on the double-entry system which helps your accountant cross-check every entry without any fuss. The command center helps in running and reporting every aspect of your business; that includes sales, inventory, purchase, invoicing, etc. AccountEdge Pro is a unique Mac friendly accounting software that offers multi-currency facilities depending on the country you work from.
AccountEdge Pro is available for 30 days trial period for free, where you can explore its features and usability for the growing business. The developers have also offered AccountEdge Connect web-browser application that can be used from any device. In addition to its usability, AccountEdge Pro helps the company create its budget chart and plan their expenses and revenues accordingly. Additionally, this accounting software for small business manages your banking, expenses, credit cards, debit cards, and tracks profit for small businesses. There is a 100s Chart of Accounts template to create your list of assets, liabilities, equities, income, and expenses.
AccountEdge Pro Accounting Features: Accounts Receivable, Bank Reconciliation, Billing & Invoicing, CPA Firms, Expense Tracking, Fund Accounting, Nonprofits, Payroll Management, Project Accounting, Purchase Orders, Tax Management
“I use AccountEdge for pretty much everything. Purchasing and managing inventory, entering and invoicing customer orders, paying commission and bills,” - Paula Beritzhoff
40. FINSYNC - Improve Cash Flow & Grow Your Business Better
About FINSYNC: Among the popular list of accounting software, FINSYNC is one of the preeminent ways to grow your business. From payments to cash flow transactions, FINSYNC is there to assist and help you focus on your business. FINSYNC is an innovative platform, delivering an unmatched solution that helps the business grow in new and empowering ways. The software is a payment platform that helps the business gets all the finances in sync, centralize cash flow control, and get in sync with the right financial professionals at the right time. Replacing one of the popular accounting software like QuickBooks, Fynsync is equipped with better features and advanced services.
FINSYNC empowers businesses to focus on the control of cash flow, record and track cash in hand, maintain electronic payments, automated accounting, cash flow management, and cloud-based payroll. The software is a complete package that manages your bills and invoices, creates a customized chart of accounts, track income and expenses for each department, associate location-wise expenses, and sync bank accounts. Fynsync also sets alert and reminders for recurring transactions customizes payment schedules, activates automated card payments, and streamlines with various vendors and customers. This amazing desktop accounting software is available at a customized pricing policy.
FINSYNC Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, CPA Firms, Expense Tracking, Fixed Asset Management, Payroll Management, Project Accounting, Purchase Orders
“When I meet other business owners, one of the first things I think to tell them is that they need FINSYNC. It is going to help you run your business, improve the amount of time that you have to grow your business, and it is going to help your life.” - Adam Walker
41. Cashflow Manager - Small Business Accounting & Bookkeeping Software
About Cashflow Manager: The fact that paperwork is tedious cannot be denied. To overcome the conventional tedious methods, businesses are integrating modern ERP systems and accounting software like Cashflow Manager. With this cloud-based accounting software, maintaining accounts have become easy like never before! Cashflow Manager is one of the best accounting software for small businesses. Designed by the market’s best professionals, Cashflow Manager is serving freelancers, sole traders, and small scale business for 30 years. The main objective behind creating this incredible accounting software was to provide business owners the ability to manage to account while focusing on business performance.
Cashflow Manager comes with three customizable pricing policies to meet individual business requirements. With absolutely no training, business owners can manage their company’s accounting, spend time on focussing on what matters, and take control of your accounts. As a newbie, clients can try free trials of the product and ensure the proximity level. Cashflow is one of the most affordable bookkeeping solutions available. It not only saves money but also saves time by offering quick and advanced financial solutions. The product offers payroll management, job keepers payment, adding business files. The software is simply designed so that anyone can download, operate, and follow the reporting system to know how your business is working.
Cashflow Manager Accounting Features: Accounts Payable, Accounts Receivable, Bank Reconciliation, Billing & Invoicing, Expense Tracking, Payroll Management, Purchase Orders, Tax Management
“As a volunteer Treasurer, with absolutely no accounting or book-keeping training, I would like to congratulate you on having such a great product (which I have been using since 2011) and absolutely incredible staff." – Karen Griffith
Accounting Software Buyer's Guide
With a vast array of account management software and tools available, it has now become easy to manage an organization of any size with ease. However, type of accounting procedures may differ from one industry to another depending upon projects, functionalities, and assets. Thus the need for account management software required may also vary depending upon compliance requirements and technology platforms. Therefore, selecting the right enterprise account management software may get tricky. In this regard, this Buyers guide will help you choose the right software for your organization.
» What are the different types of accounting software?
Accounting software is a type of application software that is used to keep track of all the transactions that are made to or from your business to an individual or another business. To run a successful and profitable business, one has to keep records of all the profits and losses that the business is going through at any given time. In old times ledger books were maintained to keep track of all the transactions, but with modern times this workload has been reduced using the help of technology.
There are many different types of accounting software available, and all types of businesses use them. Accounting system can be classified in various categories, and depending on the circumstances, anyone of them can be used to digitize the records. These are classified as follows:
A spreadsheet is an important business accounting tool. In simple words, a spreadsheet boils down to this, and it is a document consisting of grids of rows and columns, which makes it easy to store different types of relevant data together. Many small businesses rely entirely on spreadsheets for maintaining and accessing their financial data. Spreadsheets can be used for almost every accounting needs, including but not limited to, creating budges, calculating profits, and visualizing this data using graphs and charts. Microsoft Excel is one of the best and most widely used spreadsheet software around the globe. If you are running a small business, then make sure to check it out.
› Commercial Accounting Software
From managing, income, and expenses to keeping track of the financial health of a business, commercial accounting software are more than capable of fulfilling every requirement of a small to mid-size business’s accounting needs. These software are totally customizable, which means businesses can configure them to fit their specific needs.
Software such as QuickBooks accounting can be used to invoice customers, pay bills, generate reports, and come in handy while preparing for taxes.
Other popular choices for commercial accounting systems are FreshBooks accounting and Xero. Some of the commercial software may require consulting the vendor to install and configure them accordingly and have lengthy installation processes.
› Enterprise Accounting Software
Enterprise accounting software allows a business to maintain its financial transactions and data. However, its functions go beyond the scope of just accounting processes. Enterprise software has different modules to deal with different areas such as billing and payrolls, maintaining the ledger, budgeting and forecasting, and more.
Enterprise resource planning software also referred to as ERP software, is programmed in such a way that it can handle complex operations for larger companies. Enterprise software combines other services such as project planning and workflow management with accounting, meaning the software integrates information from different parts of a business into a single database. This ensures better data flow between independent parts of a business which depends on a specific piece of software that does not have utilities like information sharing, which is very important. However, the installation process is quite lengthy, which means it can take up to a year to set it up, and it is also highly expensive.
This is the reason this software is used by more important and more complex businesses and organizations.
› Custom accounting software
These are the applications, which are developed according to the particular needs of a business or an organization, meaning they are custom made for a specific purpose. Generally, businesses only decide to go for this software if their requirements are so specific that they cannot be fulfilled by a commercial or enterprise accounting system. But businesses rarely tend to go with custom made software as they are buggy and take more time and resources to manage and maintain as compared to custom or enterprise software.
Nowadays, as the applications are being developed cloud-based so that users can access their data from anywhere in the world, so is the case with accounting software. Businesses can log in to their vendor’s site to access the software from anywhere in the globe, and this approach proves to be more productive and beneficial as compared to the primitive approach of installing in on a particular system and copying the files whenever they are required by other users on different systems.
» Is it worth investing money in Accounting Software?
Manual Accounting process not only takes your valuable time but also costs you a lot of resources. Besides the lumpy racks of old files and complicated financial paper works, it’s almost become impossible to avoid errors. In the era of cloud computing where the need for paper is completely gone, it's crucial for all companies to adopt the paperless world.
Accounting software not only fulfills all the accounting elements of an organization, but it also eliminates the complicacy and errors associated with manual accounting. So yes, online accounting software is the future, and it’s better for any organization to adopt it as soon as possible.
» How does Accounting Software work?
An account software application can perform multiple tasks at the same time. There are various modules present inside the package. The basic ones are as follows,
› Core accounting:
This module helps in managing the functions towards balancing a business book. The module is capable enough to maintain general ledger functionality and to keep a track on account payables and receivables. Core accounting module also handles fixed assets and bank reconciliation. In this way, it controls all the necessary accounting parts.
› Project Accounting:
This solution system assists with tracking detail project cost required to maximize job profitability and efficiency of project-oriented organizations. It helps in selecting jobs that will guarantee better ROI by comparing job costs of available projects with past projects. To be able to better assist in decision making, it takes into consideration many factors such as labor costs, material and other such auxiliary inputs of project management.
› Fund Accounting:
This type of support system helps mid-level and government organizations to track developmental expenditures. It also assists nonprofit organizations to monitor their donations to stand tall on the requirements of donors. The module makes sure everything run as per standard board regulations.
› Inventory Management:
This section of an Account Management application handles inventory tasks including maximizing profits, minimizing depreciation costs, and avoiding overspending to keep the level intact as per requirement. Ideal software applications have functionalities that update inventory information on a real-time basis. To do so, it tracks products, orders, deliverables as well as sales. As per Generally Accepted Accounting Policies (GAAP), there are specific ways to stipulate proper value for inventory. Account Management Software having inventory application takes care of the same with ease.
› Billing and Invoicing:
This tool takes care of payment collections. It automates the entire process thereby ensuring minimum chances of human error. It implements timely and consistent payment collection strategies to cater to any billing and collection method. It can handle all kind of business models and operational scales.
› Budgeting and Forecasting:
Budgeting and forecasting are required to map the financial Outlook of any company. Account Management Software can do it by self-analyzing historical data and estimating future conditions. This feature comes handy for organizations where multiple variables account for the forecast.
› Fixed Asset Accounting:
It creates a central database for fixed asset account management. The central database contains asset information, including location check-in and check-out. It also holds information on the due date of return and scheduled maintenance. The tool takes into account audit history, cost and depreciation as well.
› Payroll Management:
It automates the payroll system by tracking and processing employee payrolls. The primary functions include generating paychecks, automating tax clearances, formatting legal and tax reports, etc. It can also create reminders to pay taxes in time thereby helping business farms avoiding legal penalties.
» Before choosing any Accounting Software
Though you will find many Account Management Software applications over the internet, there are very few those will be of real use to your business niche. Therefore, you must decide what type of buyer you are. Usually, most of the business fall into one of the following three categories:
› Small Buyers:
These buyers run a small business and are on the verge of upgrading their basic systems towards creating a robust accounting system. They need more sophisticated functions than before such as demand forecasting, increased data storage, intercompany accounts, etc. to meet their growing needs. If you are such a company, then you will require your industry-specific functionalities in the software to upgrade your account systems.
› Enterprise Buyers:
If you need full enterprise resource planning (ERP) suite, then you come under this type of buyer’s category. The requirements are more than that of small buyers. For instance, in this case, buyers will demand functionality for multi-company consolidation that is often required by large entities. Also, the seamless integration of features involving international operations and foreign currency also becomes bare essential.
› High-Class Buyers:
Buyers of this category look for specific customizable functions designed for them to meet their target requirements. For instance, Non-profit organizations looking for specific functionality such as fund accounting will belong to this group. They need software that can track the payment of donors and can let them know about is an expense. Similarly, education institutes seek for software which can track disbursement of financial aid. On the other hand construction companies look for software which can break down the cost as per projects.
Thus, you have to figure out to which group you belong, and you have to choose the software accordingly.
» How to choose the best Accounting Software?
Without a doubt, online accounting software comes with a comprehensive financial solution package for multi-faceted businesses. As a business, all you need is software that keeps allows you to efficiently handle your billings, invoicing, financial reporting, expenses management, etc.
Apart from that, it’s also crucial to check for some features which make the software standout from others.
› Phone support:
There comes a time when you might get stuck in some complicated features of the software or face any application error. When the time is money, you can take the chance to wait for hours to get a response to your mail. A phone support feature is all you need while selecting the best accounting software for small business.
› Online support options:
While some issues are too intense to wait around, some small problems are easily manageable manually. All you need is online support from the software provider, where you can get an instant response for your queries.
You cannot install a brand new software and expect your employees to start working on it instantly regardless of how technologically equipped they are. All new learnings take times, and so does a cloud accounting software. Some software allows live or online training to the employees regarding the usage of the app at a simple subscription fee.
» What are the features of Accounting Software?
› Online Generation of Bills and Invoices:
The billing and invoicing feature of an Accounting Software let you create and send bills in an attempt of a few clicks. This feature comes with extensive sub-features as well. Some apps let you create customized billing template allowing you to personalize your bills and enhance your Brand’s appearance. It also helps in efficient tax handling by capturing all the tax information and let you share the tax break down with the client. The 'reminder feature' keep you and your client’s alert for all due payments. Pay and get paid in time.
Some apps come with an online payment gateway, enabling your clients with the hassle-free payment process. If you deal with international trade, then a multi-currency billing support system can cut your critical time consumption in half. The payment is due and gets paid without delay.
› Financial reporting:
Accounting software helps you keep your expenditure and income in check and display the results in the dashboard. The dashboard mostly features your sales, expenses, receivables and some other financial elements. The feature lets you instantly generate your cash flow statement, balance sheet, profit & loss statements in a single click. Besides, you can securely share them with your team without letting anyone accesses it. The app will let you share your financial reports through secure features, let you export the document into a pdf file. You can also print the report in hard copies and share them with your team.
Some advance financial reporting feature let you schedule weekly, monthly or quarterly reports and automatically send it to specified email addresses.
› Comprehensive Accounting Processes:
The core accounting feature of an ideal accounting tool lets you create invoices, bills, financial reporting and share them with others. A comprehensive core accounting featured app includes all financial features like GST treatment for items and contacts, GST in transactions, create e waybills for consignment and file your tax returns. All the problematic works are done without going through any complicated process.
› Regular flow of salary:
This feature allows you to calculate your employee’s salary in a few clicks. The app by default breakdown the taxes, allowances and deduction and enables you to generate payslips online. With multiple templates and salary structures, you can create a different pay slab for each employee. With the payroll feature, you can keep your employees satisfied by crediting salary to their bank accounts without any delay and keep them motivated.
Although before going for accounting software, make sure it handles statutory compliance including IT, LWF, ESI, PT, PF, etc., allowing you to file tax returns without any complications.
› Expense management:
This feature allows you to create and add your reports automatically. Some apps let you auto-scan receipts and automatically feeds them in the system. It also allows you to reconcile financial transactions by fetching feeds from corporate cards automatically. You can create a step by step approval flow list which enables you to examine the expenses and get it approved automatically. You can also set up your spending limits, restricting the T&E expenditure of your employees. The feature also includes an audit trail report, allowing you to audit your expenses and leave no suspicious costs behind.
› Inventory management:
The best online accounting software always includes the inventory management feature which enables you to increase your sales by expanding your business in an online inventory management system. It let you integrate your inventory with online selling platforms like Amazon, Etsy, Shopify, etc. It facilitates you features like creating purchase orders, managing online & offline orders, shipments, etc all in one application. Some applications also come with inventory tracking features, letting you track your shipment’s movement efficiently.
» What are the benefits of Accounting Software?
There are many advantages of owning an account management software by your side such as;
› Better visibility of cost and expenditure:
One can analyze the outgoing and incoming cash flow. It will lead to better decision making. The system can produce a wide range of reports that will summarize the information.
› Saving of time:
As it will take care of many account systems automatically, the organization can have more productive time to address other specific business areas.
› Helps maintain trust:
As it will keep a track on every single expense, it would be easy for a non-profit organization to remain accountable to their investor.
› Ensure compliance with standards:
It synchronizes everything as per reporting standards and Federal requirements thereby enabling companies to avoid legal penalties in the long run.
› Saving of workforce:
As it can take care of multiple tasks. Under a single time frame, the organization can save resources in terms of workforce and related expenses.
» How much does an Accounting Software cost?
Fetching the cost of Accounting software is easy just by requesting a price quote to your vendor. However, there are other costs associated with the software those need to be taken into consideration as well such as implementation, training, customization, process redesign, maintenance, upgrades, and support.
To take care of accounting hassles, this software is a must-have add-on for every firm. However, it is equally imperative to investigate the pros and cons before paying in full thoroughly. If possible go for a free trial and ask the vendor to clear the post handling charges in detail so that you wouldn't repent your decision later and can get the best out of your Account Management Software.
Frequently Asked Questions (FAQs)
What is Accounting Software?
You can easily manage business accounts and perform accounting operations through Accounting Software. The software is helpful to record business income and expenditure.
What are the types of accounting software?
- Personal Accounting Software
- Database Accounting Software
- Installed Accounting Software
- Cloud Accounting Software
- Billing & Invoicing System Software
- Payroll Management System Software
- Enterprise Resource Planning Software
- Commercial Accounting Software
- Custom Accounting Software
What is the best software for accounting?
- Sage Business Cloud Accounting
- Zoho Books
- xTuple PostBooks
What are the main features of accounting software?
These are the core modules of Accounting Software.
- Financial management
- Accounts payable
- Accounts receivable
- General ledger
- Bank reconciliation
- Billing & Invoicing
- Expense Tracking
- Inventory Management
- Purchase order
- Sales order
- Financial close management
- Financial Reports
What is the importance of accounting software?
If you are looking for the benefits of accounting software, you can find from here:
- Financial Monitoring
- Budgeting & Forecasting
- Cost Prediction
- Saves lot of time
- Improves process efficiency
- Helpful to reduce operational cost
- Improved Tax Compliance
- Minimize Mistake Factor
- Cash Flow Management
- Instant Access with Mobility
- Data Security
- Makes Inventory Tracking Easy
- Actionable & Customizable Reports
How do you choose the right accounting software?
If you are going to buy accounting software, you need to consider these things.
- User-Friendly option
- Offered Features/Modules
- Necessary Features for your company
- Computability with other system / Third-Party Integration
- Data Security
- Access & Portability
- Customer Support
- Training Sessions by vendor