Accounting software is a helpful application for any business that provides a clear statement of financial institution. In manual accounting processing, takes a long time and the probability of doing mistakes is too high. On The other hand, accounting software is efficient to calculate and low time-consuming.
Zoho books
Zoho Books accounting software users can easily send invoices, control accounts, and accept payments on any position
FreshBooks
FreshBooks is a cloud-based accounting and invoice software that provides the user with exceptional experience
Intuit QuickBooks
QuickBooks is a well-organized accounting software that is capable to fulfill the demands of all sizes of businesses
Every business owner wants to see the real financial situation of their company at any time which is a challenging job. Accounting tools are an automation system that comes to remove the burdens of this complicated job. Nowadays, all types of business institutions want to use accounting software to keep up-to-date their accounting system. In this article, we provide proper information on some best accounting software that helps individuals and business owners to pick the best one for them.
Best Accounting Software
Every accounting software tool is built for a specific business category. From our discussion, anyone can judge which one is preferable for them.
1. Zoho Books
Zoho books is one of the best automation accounting software. It provides an app that is compatible with popular operating systems like Android, Mac Os, and Windows. That’s why users can easily send invoices, control accounts, and accept payments on any position. It also provides multiple features like CRM, inventory management, and HRM software.
Pros:
- Most affordable cost
- Higher depth in records and transaction sheets on financial
- Offers multiple payment gateways
- Automatic tax calculations and audit reports
- Monitoring the expense and inventory management
- Easily integrations with other business tools
Cons:
- Payroll service only available in India
- Number of users is limited on free & cheaper plans
Zoho books offers a free plan and paid plan starts at $10/month.
2. FreshBooks
FreshBooks is regarded as one of the best accounting solutions for its robust features and helpful functions. It is a cloud-based accounting and invoice software that can be accessed via any mobile phone like iPhone, Android, and iPad. It provides exceptional user experience and specially for small businesses.
Pros:
- Easy to use
- Quality invoicing tools
- Multi-language and currency billing
- Tracking time and expenses to run financial reports
- Easily integrates with 100+ third-party tools
- Supports proposals, projects, and retainers
Cons:
- Limitation in invoice customization
- Only five billable clients allows in the Lite plan
FreshBooks plan starts from $15/month.
3. Intuit QuickBooks
QuickBooks is a popular cloud-based accounting software program that meets the needs of businesses of all sizes. Currently, more than 7 million businesses use this software. It keeps everything well organized, well designed, and built to serve a wide variety of users.
Pros:
- Excellent user interface and is quick to set up
- Provides all expenses in one place
- Cashflow tracking visible on your dashboard
- Get expert support in all plans
- Integration with popular apps like PayPal, Square, Shopify, and more
- Automatic sales tax calculations
Cons:
- To add-on features it might be costly
- Customer service is not satisfactory
Intuit QuickBooks starting plan begins at $30/month.
4. Sage Accounting
Sage Accounting is affordable cloud-based accounting software. It can automate invoicing and billing without any hassle. Sage Accounting is designed for multiple users with comprehensive financial tools and generous customization options. It also provides Sage 50Cloud accounting software which is a desktop application.
Pros:
- Beginner user friendly
- Superb customizable features
- Capable to share access with an accountant in real time on any device
- Easily accept and receive payments
- Integration with financial apps like Microsoft 365, AutoEntry, Zync, and more
- Offers 24/7 support via live chats with expert
Cons:
- Limitation set of integrations
- After September 2022 access will no longer be desktop software.
Sage Accounting starting plan is $10/month.
5. Wave
Wave Accounting is a powerful business solution that provides complete control of your finances. It’s great for new businesses and especially for small businesses. It offers various features like invoice creation, transaction tracking, payroll services, credit card processing, management tools, and much more.
Pros:
- It’s cloud-based and easy to use
- Well organized system for tracking income and expense
- Double-entry system
- No limitation in transaction or billing
- Provides reports of profit and loss statements and cashflow
- Support multi-currency
Cons:
- Payroll services and credit card processing are not free
- Mobile apps not available
- Integrations only through Zapier
Wave Accounting offers a free plan.
6. Xero
Xero is a simple accounting software system for small and growing businesses that do not need to be expert to use. It’s also cloud-based software which brings together every important task of business in one place. It provides a perfect statement of the financial standings of a business whenever needed.
Pros:
- Easy-to-use intuitive dashboard
- Reconciling accounts, tracking projects, and managing sales
- Android and iPhone apps
- Payment integration with Stripe and GoCardless
- 700+ integrations with third-party app
- 24/7 support via email and live chat
Cons:
- Limited customer service
- Lack of details reporting
Xero plans start at $22/month.
7. GoDaddy
GoDaddy accounting software is the best solution for sole proprietors and limited liability. It is also a big name in the web hosting and website creation space. Keep in mind that it is great for e-commerce or online sellers. Their features aren’t complex which will save you time and money.
Pros:
- Cloud-based accounting tools
- It syncs to Amazon, Etsy, eBay, PayPal, and more
- Automatically create and send invoices
- Provides real-time data and deep insight and analysis
- View business statement including profit and loss
Cons:
- It’s not a comprehensive accounting solutions
GoDaddy plan starts at $4.99/month.
8. AccountEdge Pro
AccountEdge Pro is the best accounting software for experienced accountants. It’s perfect for small- to medium-sized businesses. This company also provides AccountEdge Connect tools that are cloud-based.
Pros:
- Easy to use accounting solution
- Offers robust features and reporting capability
- Double-entry system
- Data sync with company files
- Multi-currency support
- Customer and vendor management
Cons:
- It’s not beginner-friendly software
- Only Mac desktop
- No monthly plan
AccountEdge Pro one-time payment starting at $499.
Conclusion:
Keeping proper financial bookkeeping is not only complicated but also time-consuming. That’s why we pick the 8 best accounting software by researching many different options. Specifically, the best accounting software depends on customer requirements and what they can afford.