Best Accounting Software for Your Business

The best accounting software are Zoho, TallyPrime, QuickBooks, Xero, FreshBooks, and QuickBooks Online. Such accounting systems keep records and process business account transactions.

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List of 20 Best Accounting Software

Showing 1 - 20 of 712 products
#1

NetSuite, #1 cloud ERP, is an all-in-one cloud business management solution that helps more than 29,000 organizations operate more effectively by automating core processes and providing real-time visibility into operational and financial performance. Learn more about Oracle NetSuite ERP

Starting Price: Available on Request

Mobile App
API
Free Trial
#2

Best accounting solution for small accounting enterprise with an online invoicing and time tracking service that saves your time and makes you look professional. It offers billing, invoicing, online banking integration, expense tracking, and exclusive reporting as well as gathers payments right where the invoice was received, lined up, or modified. Read FreshBooks Reviews

Starting Price: Starting Price: $15.00 Per Month

Mobile App
API
Free Trial

Recent Review

"FreshBooks: The Simple and Intuitive Accounting Solution for Small Businesses" - Ayoub El Fahim

#3

Melio is a free Accounts Payable software for small businesses in the US. It allows businesses to pay vendors using bank transfers for free or through credit/debit cards, while the vendors get paid via a bank transfer or a check. Read Melio Reviews

Starting Price: Available on Request

Mobile App
Free Trial

Recent Review

"Excellent accounts payable solution that requires very little training" - Jasmin H

Category Champions | 2023

#4

It is the best accounting system with inventory management features for small businesses. We can share recent transactions and accept bulk payments. It is the best small business accounting system that helps companies to streamline their back-office operations and all financial transactions from a single hub. We can make our organization more productive with Zoho books. Read Zoho Books Reviews

Starting Price: Starting Price: $10.4 Organisation/Month Billed Annually

Mobile App
API
Free Trial

Recent Review

"Zoho Bookings Schedule Good Timming" - JADAV PRAVIN

Category Champions | 2023

#5

NetSuite, #1 cloud ERP, is an all-in-one cloud business management solution that helps more than 29,000 organizations operate more effectively by automating core processes and providing real-time visibility into operational and financial performance. Read Oracle NetSuite Reviews

Starting Price: Available on Request

Mobile App
API
Free Trial

Recent Review

"Great ERP solution for businesses of all sizes" - Parshwa Bhavsar

#6

Oracle Netsuite is the first and last business system you will ever need. For more than 20 years, Oracle NetSuite has helped organizations grow, scale and adapt to change. NetSuite provides an integrated system that includes financials / ERP, inventory management, HR, professional services automation and omnichannel commerce, used by more than 26,000 customers in 215 countries and dependent territories. Read Oracle Netsuite EMEA Reviews

Starting Price: Available on Request

Mobile App
API

Recent Review

"Oracle NetSuite aids businesses to become more efficient and intelligent" - Mohammed Mustafha

#7

Sage Business Cloud Accounting software is designed to meet the needs of start-ups, sole traders and small businesses. Choose the right plan for your business that allows you to track and send invoices, track what you’re owed, calculate and submit VAT and more. You can also add Payroll as part of your purchase. Visit Sage to buy now and save, or take out a free trial. Read Sage Accounting Reviews

Starting Price: Starting Price: $4.81 Per Month

Mobile App
Free Trial

Recent Review

"Outstanding Accounting App" - Hebert Banhire

#8

Divvy is a fully featured Accounting Software designed to serve Agencies, SMEs. Divvy provides end-to-end solutions designed for Windows. This online Accounting system offers Staff Management, Expense Tracking, Cash Management, General Ledger, Receipt Upload at one place. Read Divvy Reviews

Starting Price: Available on Request

Mobile App
API
Free Trial

Recent Review

"Review for Divvy" - Amir Haseeb

#9

Crunch Accounting is a fully featured Accounting Software designed to serve Enterprises, SMEs. Crunch Accounting provides end-to-end solutions designed for Windows. This online Accounting system offers Tax Management, Billing & Invoicing, Bank Reconciliation, Billing Portal, Customizable Invoices at one place. Read Crunch Accounting Reviews

Starting Price: Available on Request

Mobile App
API

Recent Review

"So good" - Nour Badawi

#10

QuickBooks is an online accounting software for business owners to make stay on top of their finances. Easy to use interface, 100% data security and features such as Online bank connect and Whatsapp integration helps business owners to focus on growing their business. Read QuickBooks Online Reviews

Starting Price: Starting Price: $69.44 Per Year

Mobile App
API
Free Trial

Recent Review

"Easy to access" - Manisha Garg

#11

SAP Financials is the online-based best accounting software for business. It's very simple and easy to use for clients. All users can trust and put their personal data. High security provided to users. Financial software is a solution for addressing critical financial functions, such as core accounting, financial and management reporting, and working capital management. Read SAP Reviews

Starting Price: Available on Request

Mobile App
Free Trial

Recent Review

"SAP for all types of data management" - Dnyanoba Madrewar

High Performer | 2023

#12

It is an online inventory accounting designed for small businesses. We can increase more productivity with the help of top accounting software for business and we can easily create invoices, record expenses and track inventory as well as we can easily create an account for our employees. It is popular for instant and friendly support. Read ProfitBooks Reviews

Starting Price: Starting Price: $83.32 Per Year

Mobile App
Free Trial

Recent Review

"Good inventory keeping software" - Markus Schiefer

Category Champions | 2023

#13

It is a cloud-based inventory accounting system and can be accessed from multiple locations. It is beautifully designed and is easy-to-use online bookkeeping software. With Xero, you can do flawless work. It is suitable for a small business accountant. It provides Bonus, Loan, Advances Management, etc. Read Xero Accounting Reviews

Starting Price: Starting Price: $9 Per Month

Mobile App
Free Trial

Recent Review

"A complete solution for the financial management of your company" -

#14

Sage offers a complete desktop accounting software that helps you spend less time managing your accounts and more time developing your business. With its easy to use interface, Sage 50cloud Accounting has aided small businesses and entrepreneurs to operate efficiently and effectively. Special Offer: 40% off Sage 50cloud annual subscriptions | Coupon Code: D-1929-0020. Read Sage 50cloud Reviews

Starting Price: Starting Price: $50.58 Per Month

Mobile App
Free Trial

Recent Review

"Excellent service" - Lynne Smit

#15

The best business accounting software and it is the choice of the experts. This software integrates management and financial software reports across their business entities within minutes. It does not take an entire day which helps to grow and develop businesses and helps to control around billing, accounting, and reporting. Read Intacct Reviews

Starting Price: Available on Request

Mobile App
Free Trial

Recent Review

"Highly noteworthy accounting software" - Varsha Patel

#16

ZarMoney is a fully featured Inventory Management Software designed to serve Enterprises, Startups. ZarMoney provides end-to-end solutions designed for Web App. This online Inventory Management system offers Purchase Orders, Mobile Payments, Fund Accounting, Project Accounting, Billing & Invoicing at one place. Read ZarMoney Reviews

Starting Price: Starting Price: $15 Per Month

Mobile App
API
Free Trial

Recent Review

"Best alternative I've found so far at this price" - Youssef

#17

It's complete online-based top accounting software for business. Right from sending electronic invoices and payment reminders to making ACH payments, it does it all. Besides, it provides features like fund accounting, accounts receivable, and revenue management. Read Bill.com Reviews

Starting Price: Starting Price: $29 User/Month

Mobile App
API
Free Trial

Recent Review

"Pay bills using Bill.com" - Shreyas Bhuva

Emergents | 2023

#18

It is more popular account management software specially designed for small and medium size business. The benefit of having this software is, you can have an access of this software from anywhere. It is very easy to use. Reeleezee has provided an advanced and complete accounting solution for business owners with less accounting knowledge. Read Reeleezee for Accounting Reviews

Starting Price: Starting Price: Available on Request

Free Trial

Recent Review

"Good accounting software." - Jitesh Zala

Category Champions | 2023

#19

TallyPrime is one of the leading business management solutions in the world, known for its accounting, stock control, reporting and payroll features. With TallyPrime, you don’t need to pay extra for additional features, which makes it affordable for small and medium businesses. It is used by 2 million businesses worldwide. Read TallyPrime Reviews

Starting Price: Available on Request

Mobile App
API
Free Trial

Recent Review

"Very best softare in my view but some measure have to be taken in order make it perfect ." - Arpit mishra

Most Reviewed
#20

The easiest small business inventory accounting software available at an affordable cost. It is designed to manage the entire system of the small to medium business and update all the finance with real-time as well as manages cash flow. It provides accounts receivable, payable email integration, and TDS / TCS. Read Kashoo Reviews

Starting Price: Available on Request

Mobile App
Free Trial

Recent Review

"Very user-friendly software" - Gaurima Yadav

Until 31st Mar 2023

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accounting buyers guide

What is Accounting Software?

Accounting software is an application that helps businesses to manage accounting data and keep records of financial transactions such as billing, invoicing, payroll, account receivable, and accounts payable.

It helps small business owners keep track of accounts receivable and accounts payables, understand their profitability, and prepare for tax season. In today's world of accountancy software, a small business owner can use out-of-the-box software without needing extensive customization.

We researched and compared 20+ accounting software companies before selecting the best accounting software in the USA for small businesses. We evaluated capabilities and price tags, as well as industry suitability. Here are our picks as the top five best-suited small business accounting software programs for your needs.

What are the Benefits of Accounting Software?

  1. Cost Savings

    The traditional approach to managing small business accounting has been outsourcing, adding to the business' operational expenses. Accounting solutions allow companies to bring accounting functions in-house and reduce overall costs.

  2. Improved Process Efficiency

    Human error is a real risk in the accounting management system, which requires a lot of paperwork and manual data entry. Accounting tools enable small business owners to speed up business finances such as expense management, accounts payables, and receivables by digitizing paperwork. Additionally, software used in accounting packages eliminates errors in calculations and discrepancies in records.

  3. Easier Tax Compliance

    Documentation and paperwork are also part of tax management solutions for small businesses. Chances of delaying a filing can lead to penalties for late payments. By using the financial and account information stored in the computer, accountants' software makes the accounting process more accessible and error-free.

What are the Features of Accounting Software?

Accounting Software Feature

  1. Accounts Payable (AP)

    Automates invoice capture, approval management, and authorization processes. The transaction information appears in both the general ledger and accounts payable.

  2. Accounts Receivable (AR)

    Tracks customer payments and purchases and reflects this information automatically in the general ledger.

  3. Bank Reconciliation

    It helps businesses spot discrepancies and missing entries in a record by matching "credits" and "debits" in the account.

  4. Financial Reporting

    Provides graphical representations of data in accounting systems, including sales reports, AP/AR, and cash flow analyses.

  5. General Ledger

    Provides information about each account's accounts payable and accounts receivable and about assets, equity, revenue, income, and expense tracking.

  6. Billing and Invoicing

    Provides billing to customers based on customer records, prints them and sends them to them, and records the information in an accounting system.

  7. Fund Accounting

    Assists nonprofits and governmental entities track their organizations' business finances and expenditures. For example, nonprofits can ensure that they are meeting the requirements of their fund providers by following the expenses of donations or grants.

  8. Expense Tracking

    Expenses incurred in a business are recorded in this system. Most products allow users to submit the costs through their mobile phones.

  9. Project Accounting

    Maintains various accounting package attributes related to client-facing projects, including incurred costs, expenses, and billable hours.

How to Buy Accounting Software?

Choose the Best Software for Acccounting

Compare Accounting Software Products

Depending on the industry and the buyer's needs, the buyer might want to create a long list of business software designed to assist businesses in the particular industry, such as retail, manufacturing, restaurants, etc. For example, platforms are built explicitly for companies operating in retail, manufacturers, and restaurants and for many different types of commercial organizations.

Accounting software built for smaller businesses is often easier to use but lacks advanced features in enterprise software. After reviewing the software on the longlist, the buyer can narrow down this list based on budget. Accounting software is readily available to suit all budgets, and some general accounting applications can be downloaded for free or purchased off the shelf at a cheaper price.

Selection of Accounting Software

Negotiating a contract is an important part of any business relationship. Whether it is about performance protection, security protection or just making sure that both parties agree on what they want from each other, gathering all the relevant information is essential before signing off on the deal.

A company should try to prioritize its needs and choose the solution that meets most, if not all, of its requirements. Businesses should remember that there is no single perfect software, but rather one that is best suited for their particular need.

What are the Types of Accounting Software?

 Accounting Software can be classified into 3 categories - Based on the size of the business, Based on deployment, and Based on functions. User requirements are generally based on the following factors.

Types of Accounting Software

A) Based on the Size of Business

  1. Spreadsheet Accounting: Spreadsheet software is the most affordable and straightforward accounting solution and is highly preferred by businesses with low transaction volumes. The best accounting system seamlessly collects, organizes, and analyzes account data.

  2. Personal Account Software:  Ideal for small business owners and start-ups. It helps you eliminate the need for manually entering draft amounts or balancing your checkbook. A personal accounting system automates the process of tracking significant transactions and allows you to take charge of your assets and investments, such as fixed deposits, mutual funds, etc. It comes with simple budgeting tools and an astounding array of features to simplify your financial life.

  3. Commercial Account Software: Best software for accounting has been designed to handle the accounting needs of small and medium-sized businesses. It comes with a host of impressive features that automatically generate comprehensive accounting reporting and summarize data to portray the financial state of a business. 

    What’s more, commercial accounting tools can be easily customized to your organization's needs. It also has a robust error detection mechanism to prevent inaccurate data entry.

  4. Enterprise Account Software: It is one of the most popular accounting solutions for managing the complex operations of larger companies. Enterprise accounting system in India comes with a simple interface. It offers multiple modules such as payroll, accounts payable/receivable, reconciliation, billing, invoice, inventory management software, etc., helping improve business workflows. 

    This accounting system also provides inputs into the corporate-level strategy. It also generates a graphical representation of accounting metrics, allowing CFOs and managers to evaluate financial information whenever required.

  5. SaaS: Software as a Service) based accounting platforms are emerging as a popular choice for businesses looking to minimize overhead expenses. 

    Since SaaS solutions reside in a shared environment and are based on subscription models, the cost of small business accounting systems and hardware licenses is low compared with the conventional models.

  6. Custom Accounting Tool: This is developed for businesses that want to customize their software to their accounting needs. Companies that want to tailor their report formats, recurring invoices, data fields, etc., generally opt for customized accounting solutions.

B) Based on the Deployment

  1. Installed (On-Premise): This accounting system is first downloaded on your PC and hosted on its server. Installed accounting programs can be accessed only on the downloaded device.
    Locally installed accounting platforms are feature-rich, more secure than cloud-based applications, and do not require internet access.
     
  2. Cloud: Cloud accounting software for small businesses is known for its scalability, ease of use, and cost-effectiveness. Cloud accounting solution sends data into the cloud, process it, and send it back to the users. The bookkeeping software with a stable internet connection can be used from your PC and mobile and tablet devices.  

    The most significant advantage of accounting software is that it eliminates the need for installing and maintaining accounting system on individual desktops. Having offices in multiple locations lets your team members access the same financial data remotely through the internet.
     
  3. Hybrid: Hybrid accounting solutions include sophisticated features of hybrid accounting solutions at a reasonable price. They are ideal for small and mid-sized businesses requiring sophisticated accounting tools. 
    Like SaaS-based accounting solutions, this offers accessibility from multiple locations via the internet.

C) Based on Functions

  1. Billing & Invoicing Software: Billing and invoicing software is essential for daily business tasks such as documenting financial activities, writing checks, and notifying customers about outstanding payments.
     
  2. ERP Software: ERP software functions help to make businesses plan, do forecasts, and generate reports on a company’s financial results. The best ERP software comes with a scalable and comprehensive set of functionalities to help tiny businesses and multinational corporations streamline their accounting operations.
     
  3. Payroll Management System: An efficient accounting system can perform various tasks such as automatic payroll calculation, depositing salary directly into your employee's bank accounts, generating payslips, tax forms, and reporting.
     
  4. Time and Expense Management Systems: Time and expense management systems come with a time tracking module to help you keep tabs on time spent on different tasks by your employees. The small business accounting software also records the time, labor, and costs associated with other projects so that you can send invoices to your clients with solid evidence of time spent on their projects.

Top Comparison of Accounting Software

Here are our best picks and details about our selection process. Read our accounting software cost and buyer's guide and learn more about what you should look for in accounting software.

Accounting Software
Free Trial
Starting Pricing
Key Benefit
14 Days
$60 Per Year
Best for Small Businesses
14 Days

$0 for Startups 

 
Best for SMBs
30 Days
$15 Per Month
Best for Invoicing and Billing
14 Days
Custom
Best Accounting ERP tool
Free
N/A
Free Accounting Solution

Cost of Accounting Software

Accounting software costs range from $20 to $40 per month. Generally, small business account software can be scalable, so they can easily upgrade the subscription plan as the business grows. 

What Type of Buyer Are You?

Types of Accounting Software Buyer

The first step to evaluating your options is determining your buyer type. Most buyers fall into one of three types:

  • Entrepreneurs with Small Businesses

    Small business owners are on their way to upgrading their basic accounting systems to more robust ones that support premium accounting management system features (such as demand forecasting, intercompany accounts, increased financial data storage, and users).

    Business growth leads to the upgrading of systems for a variety of reasons. For example, industry-specific functionality becomes crucial after a small business reaches a certain number of employees.

  • Enterprise Buyers

    These buyers generally represent large organizations and businesses that need a complete enterprise resource planning (ERP) suite. In addition to international operations and foreign exchange, these systems are designed for managing multiple companies and global operations and other essential functions for large organizations.

    It's usually more important to have seamless integration than specific accounting features; however, both areas are very competitive, and buyers should pay attention to both.

  • The Best-of-Breed Buyers

    Businesses that perform fund accounting need easy accounting software specifically designed for nonprofit organizations. Moreover, in education, universities and colleges need software specifically designed for higher education, such as software for financial aid disbursement.

    The method allows different grant providers to view how funds have been used. Finally, for best-of-breed buyers, like construction companies and engineering firms, accounting features are usually more important than integration for a system that can analyze costs for each project and location.

List of Top Accounting Software with Pros and Cons

  1. Best for Small Business: QuickBooks 
  2. Best for SMBs Owners: Zoho Books
  3. Best for Service-Based Businesses: FreshBooks
  4. Best for Features: Oracle NetSuite
  5. Best Free Software: Wave

1. QuickBooks

Why We Choose QuickBooks

The best business accounting software includes inventory management features, sharing recent transactions, and accepting bulk payments. In addition, it provides companies with a single point of contact to streamline back-office operations and all financial transactions.

QuickBooks Pros

  1. Scalable
  2. Commonly used by accounting professionals
  3. Simple inventory management
  4. Cloud-based
  5. Mobile app

QuickBooks Cons

  1. Upgrade required for more users
  2. Occasional syncing problems with banks and credit cards

2. Zoho Books

Why We Choose ZOHO

The best bookkeeping software and software used in accounting, Zoho Books can be used on either mobile or desktop. You can make bills, maintain stocks, track payables and receivables, and more.

ZOHO Pros

  1. Send payment reminders on WhatsApp
  2. 24x7 chat support
  3. Works both on Mobile and Desktop
  4. Cloud storage. 100% safe & secure
  5. Real-time data sync

ZOHO Cons

  1. Targeted for Shop Owners, not for Service Professionals
  2. The user role Salesman edit option has to be removed

3. FreshBooks

Why We Choose FreshBooks

FreshBooks is the most uncomplicated GST-ready accounting management system, invoicing, and inventory management software available anywhere. It is specifically designed for small businesses with an easy-to-use interface to assist you in managing your small business digitally.

FreshBooks Pros

  1. Scalable
  2. Commonly used by accounting professionals
  3. Cloud-based
  4. Mobile app
  5. User-friendly interface

FreshBooks Cons

  1. Limited customer service
  2. Fees charged for ACH payments

4. Oracle NetSuite

Why We Choose Oracle NetSuite

A leading business management solution in the world, Oracle NetSuite is a robust accounting management system, stock control, financial calculation and reporting, and a full-service payroll solution. Small and medium businesses can use it at no additional cost. It is used by more than 2 million businesses worldwide.

Oracle NetSuite Pros

  1. Mobile app
  2. Cloud-based
  3. Payroll integration with Gusto
  4. Third-party app marketplace
  5. User-friendly interface

Oracle NetSuite Cons

  1. The mobile app has limitations

5. Wave

Why We Choose Wave

The comprehensive accounting system includes financial management, billing, revenue tracking, accounting, financial management, and reporting modules. Maintain all your data on the cloud to get daily cash balances and real-time visibility across your business.

Wave Pros

  1. Affordable
  2. Advanced invoicing features
  3. User-friendly interface
  4. Third-party app integration
  5. Cloud-based

Wave Cons

  1. Data cannot be easily moved to other accounting solutions
  2. Limited reporting

FAQs of Accounting Software

1. Can I Access My Accounting Software Using Mobile Apps?

Ans: Yes. Mobile accounting apps allow you to access your accounting data from anywhere. 

2. What is the Difference Between Accounting & Bookkeeping?

Ans: Bookkeeping software focuses on recording revenue and tracking expenses, whereas accounting software includes analytical and actionable accounting tools, such as cash flow analysis and forecasting. In addition, accounting software offers more features than bookkeeping, generating detailed invoices and reports.

3. What Accounting Processes can be Automated?

Ans: 5 processes that can be automated using Accounting Software

  • Extracting data from large tax documents.

  • Creating the latest journal entries.
  • Tracking payments.
  • Reducing manual work.
  • Sending invoices.

Accounting Software Related Research Articles:

FAQs of Accounting Software

Accounting software helps to record transactions, download financial statements and reports, manage customer information, send invoices, share financial information with an accountant, and file business taxes.

Unlike bookkeeping software, accounting software performs all of the functions of bookkeeping along with more analytical accounting functions, such as cash flow analysis and forecasting. In contrast, bookkeeping software focuses on data entry and storage. It is used to keep track of your revenue and expenses.

Accounting software eliminates up to 40% of business losses caused by accounting errors, but you have to know which accounting processes can be automated effectively and which ones cannot. For example, accounting software automates invoices, payroll, expense reports, etc.

Last Updated: March 10, 2023