Accounting business software

Nowadays, many companies use accounting business software to keep track of their business financial data. In the past, accountants and bookkeepers used to keep track of transaction details and other accounting information through paper documents. Today’s accounting software solutions are much easier to use than traditional books making it far easier for companies to keep track of their sales and expenditures.

Business software for accountants is sort of like comfortable pajamas. There are plenty of options available, many of them you’ll want to try, and in most cases it doesn’t matter what you end up choosing. Accounting software should be comfortable, easy to use, and do a decent job at crunching numbers and recording data.

Accounting business software provides a solution for all the problems that come with the running of a business. It is easy to use, has a user-friendly interface and is customizable according to the needs of your business.

The accounting software can be used by any size of business. This makes it possible for small businesses with limited resources to use this software as well as large corporations with huge budgets. The accounting business software has been designed so that it can handle all types of transactions including cash receipts and payments, credit card transactions, inventory management, payroll processing etc.

Accounting business software is designed to help small businesses manage their finances. The goal of accounting business software is to help you keep track of your money, including where it comes from and where it goes. Accounting business software can help you make decisions about how to invest your money, or even just make sure you’re spending it wisely.

Accounting business software can be used on desktop computers, tablets, and smartphones. There are a variety of programs available that offer different features and capabilities. Some are more robust than others in terms of what they can do for your business.

Accounting business software

The right accounting software will keep track of financial transactions to record profit and loss and improve your overall financial management and overall cash flow.

Since accounting software is something your business will use everyday, it’s important you choose one that is easy to use, easy to implement, and within your budget. Most businesses may opt for a simple out-of-the-box software that does not require any additional add-ons or customization. Others may look for something rather complex that requires a high-level of customization.

There are hundreds of accounting systems on the market today–so which is right for your business? You may need to create invoices, run financial reports, or identify and follow up on past-due balances. The number of employees and your industry will also be factors considered.

To help you find the best accounting solution, we’ve conducted research on a wide range of management software and put together a collection of our best accounting software.

Best Overall

Sage Intacct

★★★★★

★★★★★

(46)

Entities
Purchasing
Order Entry
Resource Search
Report Center
Financial Report Editor
Dashboard

What We Like

In-depth financial management

Works in any industry

Budgeting and Planning integration

What We Don’t Like

Volume exports can be difficult

Learning curve

Only for US Market

Overview

Price Range: $$

Client OS: Web

Sage Intacct includes support for core accounting, financial reporting, billing, purchasing, sales and use tax, inventory management, and project accounting. The financial management system offers a suite of accounting features that could serve medium and large-sized businesses with consolidated ERP and e-commerce features.

Most of Sage Intacct’s applications are financial-based, including accounts payable, accounts receivable, cash management, a general ledger, order management, purchasing, and reporting and dashboards. Intacct also includes support for financial reporting, billing, sales and use tax, inventory management, and project accounting.

The Intacct solution is particularly popular with professional services companies based on extensive support of time-based billing, ease of use for remote professionals, and strong project accounting features.

Best for Small Business

FreshBooks

★★★★★

★★★★★

(5)

Expense management
Invoicing
Project and task time tracking
Freshbooks Home Page

What We Like

No setup costs

Discounted intro pricing

Simple and intuitive

What We Don’t Like

Client based pricing

No bulk invoice creation

Overview

Price Range: $

Starting Price: $15/month

Client OS: Web, iOS, Android

FreshBooks is a true all-in-one accounting software that improves cash flow and automates your administrative tasks such as basic invoicing, organizing expenses, and tracking your time worked on projects. It also offers a large quantity of reports that help monitor the finances and financial health of your business.

The biggest benefit of FreshBooks is what you get included for the price. Rather than offer a limited base version of their software (such as only invoicing), their “Lite” package includes a full suite of unlimited invoices, expense entries, estimating, and time tracking. It can also accept credit card payments and ACH bank transfers and has an automated bank import feature built in.

Best Free

Wave

★★★★★

★★★★★

(5)

Dashboard
New Invoice
Products and Services
Receipts
New Estimate
Available Reports

What We Like

Unlimited bank accounts and credit cards

Unlimited income/expense transactions

Multi-currency invoicing

What We Don’t Like

Collecting online payments is “pay-per-use”

Payroll is a monthly add-on

Overview

Price Range: $

Client OS: Web, iOS, Android

Wave is a forever-free accounting solution that offers accounting, invoicing, payments, payroll, and receipts. Wave is very transparent into their pricing structure. The accounting, invoicing, and receipt scanning is 100% free. Collecting payments via credit card or bank transfers, or running payroll for your employees, does come at a price, however.

Wave is not only one of the most popular free accounting solutions, it can also be thought of as one of the most popular accounting solutions period. Because of this, it’s a great choice for freelancers and start-ups who are strapped for cash.

Best for Payables

Tipalti

Supplier Payments
Review Invoice
Review Invoice
Bill List
Bill Approval
Bill Approval
Payment Group
Tipalti

What We Like

Invoice-based and performance-based workflows

Handles multi-entity

Integrations with popular accounting software

What We Don’t Like

Lengthy setup

No VAT or GST functionality between all available integrations

Can’t add bills to scheduled payment order

Overview

Price Range: $$

Starting Price: $100/month

Client OS: Web, iOS, Android

Tipalti is an accounts payable automation solution that prioritizes efficiency across an end-to-end global payables workflow. Supporting AP and payment management in their cloud platform, Tipalti helps users scale and adapt to their business’ changing needs.

Invoice-based supplier payments are the heart of Tipalti, helping growing companies focus on improving their AP workflow. Larger companies can enjoy global and performance based mass payments to partners depend on their marketplaces, networks, or communities.

Tipalti lets vendors register on your Supplier Hub, helping your business reduce data entry and ensure supplier identity with tax IDs. Vendors can then upload invoices and allow you as the payer to review what has been keyed in and approve any invoices and schedule future payments.

Want more results? Check out our list of accounts payable automation software.

Best Online

Xero

★★★★★

★★★★★

(3)

Xero Dashboard

What We Like

Strong invoicing capability

Large number of add ons and integrations

Easy-to-understand accounting language

What We Don’t Like

No “paid” notification alerts

Limited to 2,000 transactions per month

Payroll is limited to 36 U.S. states

Overview

Price Range: $$

Starting Price: $9/month

Client OS: Web

Xero is very scalable online accounting software, meaning many small businesses continue to use Xero as they grow into larger enterprises and upgrade to more advanced versions. Because of this, over 1.3 million users have chosen Xero as their primary accounting software.

Online accounting solutions (also known as cloud accounting software) such as Xero provide a “log in from anywhere” approach, which is intended to increase usage given the ease of access. On top of being able to access your financial information from anywhere you have access to a web browser, Xero has a mobile app for iOS devices, which can provide accounting features such as receipt scanning.

Xero learns and categorizes each transaction to help save your business time. Xero also has a large customer support network and an online “checkup tool” that lets the customer support team run some system checks to identify issues and handle issues via chat support.

Best for Mac

QuickBooks for Mac

★★★★★

★★★★★

(3)

Company Snapshot
Invoices
Payments
Profit and Loss Details
QuickBooks for Mac

What We Like

User-friendly

Low one-time cost

One-click finances, sales and tax reports

What We Don’t Like

3 users maximum

No mobile access

Limited tech support

Overview

Price Range: $

Starting Price: $299.95 (perpetual license)

Client OS: Mac

QuickBooks for Mac is the Mac-exclusive version of one of the most widely used accounting products ever, QuickBooks Desktop. New in 2020, the Mac version includes modernized reporting, an improved customer snapshot, a dark mode, electronic invoices with online ACH, credit card, or e-check payment options, and bounced check processing.

Due to the widespread popularity of PCs, many software developers have a “Windows-first” approach when it comes to creating their software. While it can be challenging to find an accounting software with a Mac-specific UI, QuickBooks for Mac gives all the same features provided to it’s Windows counterpart. This is a relief for Mac users who prefered a locally installed option rather than QuickBooks Online accounting software.

QuickBooks for Mac primarily serves small businesses and starts at only $299 for a one-time purchase.

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