With the emergence of digital accounting tools, it's never been easier to manage your business' financial affairs. From tracking invoices to creating bank reconciliations, accounting software can help simplify financial management processes by automating time-consuming tasks. If you're looking to take your business' bookkeeping and accounting to the next level, we've rounded up the top five best accounting software solutions for you to consider.
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FreshBooks is an accounting software that includes invoicing, time tracking, and project management features, primarily aimed at freelancers and small businesses. It is cloud-based and offers mobile apps for iOS and Android.
- Invoicing
- Invoicing
- Time tracking
- Project management
- Estimates and proposals
- Time-saving automation of invoicing and payment processing
- Easy time tracking and project management
- Simplified tax preparation
- Higher pricing for advanced features and multi-user support
- Limited customization options for invoices and reports
- Limited integration options with other software
Pricing for FreshBooks starts at $17/month and moves up to $55/month pricing from there. You should connect with their team to learn more about the capabilities with each plan.
Best Fit For:
small and medium sized business
Free Trial Offered?
YES
NO
Pricing Plan 1:
$17/month
Pricing Plan 2:
$55/month
- Shopify
- Trello
- Mailchimp
QuickBooks is a comprehensive accounting software for small to medium-sized businesses. It includes features such as invoicing, expense tracking, and financial reporting. QuickBooks is available as desktop software or a cloud-based service.
- Invoicing
- Invoicing
- Expense tracking
- Financial reporting
- Payroll
- Efficient invoicing and payment processing
- Comprehensive financial reporting
- Robust payroll management
- Steep learning curve for some users
- Limited customization options for invoices and reports
- Limited customer support options for some plans
Pricing for QuickBooks starts at $30/month and moves up to $200/month pricing from there. You should connect with their team to learn more about the capabilities with each plan.
Best Fit For:
small and medium sized business
Free Trial Offered?
YES
NO
Pricing Plan 1:
$30/month
Pricing Plan 2:
$200/month
- PayPal
- Microsoft Excel
- Gmail
AccountMate is desktop accounting software aimed at small to medium-sized businesses. It includes features such as payroll and inventory management, along with various other accounting features.
- Invoicing
- Accounting and financial management
- Payroll
- Inventory management
- Job costing
- Comprehensive accounting and financial management
- Advanced job costing and manufacturing management
- Robust inventory and order management
- Higher pricing for advanced features and customization
- Limited cloud-based capabilities and mobile access
- Limited integration options with other software
Pricing for AccountMate starts at Custom and moves up to Custom pricing from there. You should connect with their team to learn more about the capabilities with each plan.
Best Fit For:
small and medium sized business
Free Trial Offered?
YES
NO
Pricing Plan 1:
Custom
Pricing Plan 2:
Custom
- Dropbox
- Zapier
- Avalara
Xero is a revolutionary cloud-based accounting software that has transformed the way businesses manage their finances. With its user-friendly interface and comprehensive suite of features, Xero makes it easy for businesses of all sizes to manage their accounting processes efficiently and effectively.
One of the standout features of Xero is its invoicing tool, which allows businesses to create professional-looking invoices that are fully customizable with their branding. The tool also enables businesses to set payment terms and automate payment reminders, reducing the risk of missed payments and improving cash flow.
Xero's inventory management feature is another standout tool that allows businesses to track their stock levels, sales, and purchase orders in real-time. With this feature, businesses can make informed decisions about inventory, avoid overstocks or shortages, and streamline their supply chain management processes.
Payroll processing is a critical function for businesses, and Xero makes it simple with its payroll feature. The tool automates payroll calculations, including employee salaries, taxes, and deductions, saving businesses time and ensuring compliance with relevant tax laws and regulations.
- Bills & Expenses
- Invoicing
- Inventory management
- Payroll
- Bank reconciliation
- User-friendly interface for small business owners
- Extensive third-party app integration
- Advanced inventory management
- Higher pricing for advanced features and multi-currency support
- Some users may find the interface too simplistic or lacking in advanced features
- Limited mobile app capabilities
Pricing for Xero starts at $13/month and moves up to $70/month pricing from there. You should connect with their team to learn more about the capabilities with each plan.
Best Fit For:
small and medium sized business
Free Trial Offered?
YES
NO
Pricing Plan 1:
$13/month
Pricing Plan 2:
$70/month
- HubSpot
- Stripe
- Shopify
KashFlow is a cloud-based accounting software aimed at small businesses. It includes features such as invoicing, expense tracking, and financial reporting.
- Invoicing
- Invoicing
- Expense tracking
- Payroll
- Financial reporting
- Streamlined invoicing and payment processing
- Efficient expense tracking and reporting
- Automated VAT filing and compliance
- Limited integration options with other software
- Limited customization options for invoices and reports
- Higher pricing for additional users and advanced features
Pricing for KashFlow starts at $12.70/month and moves up to $35/month pricing from there. You should connect with their team to learn more about the capabilities with each plan.
Best Fit For:
small and medium sized business
Free Trial Offered?
YES
NO
Pricing Plan 1:
$12.70/month
Pricing Plan 2:
$35/month
- Dropbox
- HubSpot
- PayPal
