Service Accounting Software

I searched high and low for some awesome service accounting software options for my SaaS startup. There were A LOT of options to choose from. I tried a few, but not all. So — I’m here to share what I found with you guys.

If you are in charge of a company’s finances, balancing the books at the end of each month can be challenging. It takes time to track all your business expenses and impossible to get everything done when you have other responsibilities to attend to. This is why many companies depend on service or professional accounting software. These programs help companies track their own finances and have budgeting features that allow owners and managers to forecast possible revenue and expenses.

Unique automation takes automated payments to the next level by actually creating accounting entries as they are created. The accounting entries are posted to your general ledger or can be sent with transaction detail directly to your chart of accounts, based on your configuration. This feature is provided through Crystal Reports and Service Design’s direct integration with Oracle and Microsoft SQL Server so that you have complete control over what the accounting entries are called, when they are created, at what company level they take place, etc. Sounds pretty neat right?

Service Accounting Software

1. Intuit QuickBooks Online

Small Business Accounting Software Intuit Quickbooks onlinePricing: Starts at $12.50/month

Intuit Quickbooks might be the first resource that comes to mind when you hear the term, “small business accounting software” — and for good reason. Beyond its first-rate suite of capabilities, the program sets itself apart with elements like receipt capture and 24/7 chat support.

It also features integrations with PayPal, Shopify, and Square. Taken together, those components — among several others — make Quickbooks a crowd-pleasing small business accounting software.

All plans allow you to track income and expenses, send invoices and receive payments, run reports, send estimates, track sales and taxes, and capture and organize receipts. More advanced plans allow you to track inventory, track time, and even run full-service payroll.

Best for Businesses Looking for a Tried-and-True Option

Intuit Quickbooks is one of the most (if not the most) prominent accounting software for small businesses. It’s been around long enough for you to have a solid idea of what you’re getting when you invest in it — an accessible, affordable, time-tested solution that can suit a company of virtually any size. If you’re looking for a safe choice that reconciles reliability with exceptional functionality, consider looking into Intuit Quickbooks. 

2. FreshBooks

Small Business Accounting Software Freshbooks

Pricing: Starts at $4.50/month

FreshBooks is a straightforward solution that prides itself on making small business accounting more efficient. According to its website, FreshBooks’ software can help users save up to 46 hrs a year on filing for their taxes.

The platform integrates with many business applications and provides you with a single dashboard to manage your finances and accounting. Regular secure backups are included, and a mobile app allows you to keep track of your business at all times.

Best for Businesses That Send Out Recurring Invoices or Have Subscription Models

If you send out recurring invoices, need time tracking capability, or run a subscription model business, FreshBooks could be ideal for you. Its suite of resources lends itself to companies that fit that bill.

It even includes a feature that lets see the exact location a customer opened your invoice — letting you avoid those pesky “I never got it” excuses. With affordable plans to accommodate businesses of virtually every size, it’s definitely worth considering.

3. Melio

Melio is an online business-to-business payment solution. It’s made for businesses of all sizes to pay and get paid their way, by ACH, check or credit card.

Melio has no subscription or monthly fees, and while it’s mostly free to use, some transactions do carry a small charge.

Best for Businesses Looking for a Free Business Bill Pay Solution

For businesses, cash flow is everything and that’s why Melio lets them pay their business bills with a credit card, to defer payment, earn rewards and hang onto their cash. And payments are synced to QuickBooks Online, which means they stay in sync with their accountant or bookkeeper.

melio

4. Pabbly

Small Business Accounting Software PabblyPricing: Starts at $9/month

Pabbly Subscription Billing is a recurring and subscription management software for small to medium-sized businesses. This software provides real-time actionable metrics on your monthly payments, revenue, net revenue, active customers, and new subscriptions. It also automates all your business workflows, customer communication, and invoice creation so you can focus on your business growth.

Best for Businesses Looking for a Reliably Fixed Pricing Model

One of Pabbly’s key selling points is its subscription billing model. It’s one of the only software on this list that doesn’t charge any extra fees on the basis of per-transaction and monthly revenue generation. That kind of consistency — paired with it’s first-rate functionality — make Pabbly a solid option.

5. Wave

Small Business Accounting Software WavePricing: Free — Additional Monthly Cost if You Elect Payroll in Tax Service or Self-Service States; Some Processing Fees Apply

Wave is a powerful accounting solution for small businesses and individual contractors. It places significant emphasis on ease of use and synchronicity —letting you link your bank accounts, track your expenses, and balance your books without any trouble. It also lines up with Wave’s additional resources, providing you with an all-in-one solution if you opt to invest in its other products.

Best for Freelancers or Very Small Businesses

If you are operating as a freelancer or have just a few employees, Wave could be for you. Most of its services are free, including invoice- and transaction-management. However, if you’re looking for built-in time tracking, inventory tracking, or project management, you’ll likely need different software.

6. Sage 50cloud

Small Business Accounting Software Sage 50CloudPricing: Starts at $340/Year

With Sage, you can spend less time on administrative tasks. The software sends invoices, tracks payments and expenses, and calculates what you owe come tax season. Time-tracking and collaboration tools are two things you won’t get with Sage, and payroll is a separate product.

Best For Small Businesses Trending Towards Higher Growth

Sage works well for small- to medium-sized businesses. It errs on the more expensive side of the tools on this list, but it has an impressive enough suite of features to back its prices up. If your small business is more mature than most — and you can afford to spend a little extra on your accounting software — take a look at Sage50cloud. 

7. Xero

Small Business Accounting Software Xero

Pricing: Starts at $11/month

Xero lets you get financial performance reports sent straight to you, and connect your bank account for a seamless experience. If you need payroll services, you’ll have to use them through Xero’s partnership with Gusto. And if you value live support, you should probably look for another provider.

Best for Businesses That Conduct Their Business on the Go.

One of Xero’s most impressive characteristics is its mobile experience, making it an excellent option for businesspeople who work on the go. The software allows you to send custom invoices, track inventory, and create purchase orders to attach to bills — all from your phone or tablet.

8. Zoho Books

Small Business Accounting Software ZohoBooks

Pricing: Starts at $15/month

Zoho Books is an excellent resource for helping your small business manage cash flow and finances. The software lets you automate workflows and work collectively across departments. It includes first rate tools for inventory management, banking, time-tracking, and financial reporting — all backed by an industry-leading UX.

Best for Ease of Use

One of Zoho’s biggest draws is its accessible, user-friendly interface. It comes with an easy-to-read dashboard that virtually any member of your organization can make sense of. It also offers benefits like excellent customer support and the ability to accept payments online. All told, Zoho is one of the better software for more casual users.

9. Kashoo

Small Business Accounting Software Kashoo

Pricing: Starts at $20/month

Kashoo is a solution that offers powerful functionality at a reasonable price. Among the software’s features are automatic reconciliation, categorization using machine learning technology, and income and expense tracking.

Best for Businesses Looking for a Simple Solution

Perfect for small businesses searching for a truly simple solution, Kashoo offers plans and features that can accommodate any small business’s needs. Its functionality is straightforward but effective, and its pricing structure allows for unlimited users at a relatively low price point.

10. AccountEdge Pro

Small Business Accounting Software AccountEdge Pro

Pricing: Starts at a One-Time fee of $149

AccountEdge Pro provides double-entry accounting tools — from time billing and reporting to inventory — that are customizable and optimized for desktop users. The program is also available for a one-time fee, potentially saving you a lot of money down the line by avoiding subscription costs.

Best for Businesses That Don’t Necessarily Need a Mobile Option

If a lack of a mobile option isn’t a deal-breaker for you, AccountEdge could be just what you need. As I mentioned, the software is designed specifically for desktop users — and that experience is extremely solid — but you can’t take AccountEdge with you on the go. That said, there’s a cloud-collaboration option available for purchase that gives you mobile flexibility.