Accounting is a very much integral part of the business. Earlier, Small Business firm used to record each and every income and expenditure. But with the introduction of such Accounting Software for small business has made life easy. There are a large number of accounting software that assists small businesses in maintaining their accounts at a very reasonable rate.
Most used Accounting Software
You might be thinking, How will you decide which accounting software will help you or benefit you more on the basis of your business? Well, Click here to know more.
FreshBooks – Invoice and Accounting Software for Small Business
FreshBooks is an esteemed software for finance & accounting. And small business owners find it as one of the best cloud solutions for their businesses. Last year, this software won “Finances Online’s Best Accounting Software Award” and has the maximum client gratification rates of all similar apps of this class.
Features of FreshBooks:
- Freshbooks assists in the creation, management, and sending invoices for products and administrations extracted for the customers.
- It is utilized to set up frequent statements.
- It is also used to record and track incurred expenditure.
- Update your financial accounts by importing expenditure directly from the line items.
- Client information can be saved and edited using this accounting software.
- For easily collaborating with your team, this software is used to set up non-billable and billable assignments.
- It is available in Android and iOS applications.
- There are different pricing plans for this software available of which one plan offers $15 per month for up to five active clients. This plan is a Lite plan.
- Another plan is Plus plan which has pricing of $25 per month for fifty clients with various added features.
- For five hundred clients and added features, the Premium plan is available with the cost of $50/month.
- Another plan offers $10/person per month for every extra member. Read more
Quickbooks – GST Ready Online Invoicing for Small Business
An accounting software which is used to organize sales and expenditures is known as Quickbooks. This software is also utilized to have a check on the transactions made on a daily basis. Click here to learn about Quickbooks Shortcuts.
Features of Quickbooks:
- Quickbooks Online is used to perform all the bookkeeping tasks like recording daily transactions, making calculations, and managing information so that your account book will be maintained properly.
- It also assists in calculating sales tax with the help of a built-in sales tax calculator.
- You can manage and pay your bills before due date using this accounting software and avoid late payment fees.
- This software is useful in creating customized reports for businesses, creating invoices and their fast payment, tracking expenses, scanning receipts, creating estimates and quotations.
- It can also be used for importing the bank transactions and managing them properly.
There are four types of pricing plans for Quickbooks Online, which ranges from $20 to $150 per month. These plans have an extra charge of $35 per month for payroll. Read more
NetSuite ERP – Business Management Software
NetSuite ERP is the renowned Cloud business management software that is designed especially for fulfilling the needs of small-sized business which have high growth.
Features of NetSuite ERP:
- It is great software for accounting purpose as it helps in audit trail visibility, tax management, and many more.
- This accounting software also helps in the management of the fixed asset, payment, purchasing & vendor, inventory control & warehouse, and billing, etc.
- NetSuite ERP assists in demand planning with the utilization of demand planning engine, gross requirement inquiry, and supply chain intelligence with MRP.
- Manufacturing management is also made easy with NetSuite ERP.
- The cost of the base license of NetSuite ERP is around $999/month.
- Its cost for every user who wants to access it is around $99/month. Read more
Tally ERP 9 – GST Ready Accounting & ERP Software
With trusted distant access, review & agreement services, a combined provision center and management of security, Tally ERP 9 concentrates on delivering a great solution to the corporations. It is an amazing software that holds its unique effortlessness yet offers complete business functionalities.
Tally ERP 9 is the most used accounting software not only by small business firms but also but medium and large scaled firms. In order to enhance your knowledge on Tally Shortcuts, Click here.
Features of Tally ERP 9:
- This software is liked by most businesses because of it’s easy to share feature.
- This helps in the management of payroll.
- It provides support for manufacturers.
- It has the capability of multilingual dealing.
- This software comes with an enhanced security system.
This software is free software, but for only educational purpose. However, in order to use this software for accounting in business it is chargeable. Read more
Zoho Books – Online Accounting Software
This accounting software is the perfect solution for those businesses which are at their growing stage as it is designed to function smartly. In 2017, this software has awards like “Great User Experience” and “Useful Free Trial Awards” because of its intuitive accounting solution design.
Features of Zoho Books:
- This is the best accounting software which is well-known for its ease of use.
- This software can help small businesses to manage finances and cash flow.
- You can get a benefit of great support, creating a balance sheet, accepting payments online, and a dashboard which is easy to read.
There are three types of plans for the cost of this accounting software which are as follows:
- Basic plan includes $9 for every organization per month.
- Standard plan consists of $19 for every organization per month.
- Professional plan includes $29 per month for every organization. Read more
“You have to understand accounting and you have to understand the nuances of accounting. It’s the language of business and it’s an imperfect language, but unless you are willing to put in the effort to learn accounting – how to read and interpret financial statements – you really shouldn’t select stocks yourself.” – Warren Buffett
Sage Accounting – Business Cloud Accounting Software
Sage Accounting is one of the leading providers of ERP software. Sage Accounting software is the software for business management.
Features of Sage Accounting:
- This is great software for small to mid-sized associations.
- With the utilization of the Sage Accounting software, administrative tasks will be performed in a jiff.
- It assists in sending invoices, tracking expenditures and payments, and calculating your tax.
This software comes with three types of plans for costing which are as follows
- Pro Accounting plan in which the cost will be $46.83 for every user per month.
- Premium Accounting plan in which one user will have to pay $72.41 every month.
- Quantum accounting plan is made for three users in which the cost will be 182.91 per month. Read more
Xero – Beautiful Business & Accounting Software
For small and growing businesses, a web-based accounting system is designed which is known as Xero software. Xero helps in linking small businesses with the advisers it trusts the most and provides owners of the business with instant perceptibility of their economic place.
Features of Xero:
- Xero accounting software is the perfect solution for those business people who work while travelling.
- Using Xero, you will be allowed to send invoices customized especially, create purchase orders, and keep a check on inventory.
- You will get updated financial reports on your performance directly.
- It has also a feature of payroll services with the partnership of Gusto software.
The costing of this software has three plans that include
- Starter plan of $9 per month
- Standard plan of $30 per month
- Premium plan of $70 per month Read more
Xero vs. Quickbooks
A brief description regarding the difference between the Xero Accounting software and QuickBooks accounting software are as follow:
- Both of the accounting software offers a similar kind of services in terms of invoicing.
- Xero is much easier to use while paying a bill than QuickBooks.
- Xero software also provides you with an equity statement, unlike QuickBooks.
- Xero is way cheaper than QuickBooks when comes to its costing per month.
- Unlike QuickBooks, Xero is a great user-friendly software.
- QuickBooks take a longer time to start in comparison to Xero.
GoDaddy Bookkeeping is formerly known as Outright Accounting. This software is one of the most simple and affordable accounting software options for small business on the market.
Features of GoDaddy Bookkeeping:
- One of the most important features of this software is its costing. It is available at a reasonable rate.
- This software integrates with eBay, Amazon, Etsy, and bank accounts of its users.
- It imports data and use it to create invoices and calculate the estimated tax for quarters.
- It also assists in project management, managing international billing, and producing extensive reports.
The three plans of the GoDaddy Bookkeeping software costing include
- Get Paid plan with $4.99 per month.
- Essentials plan for $9.99 per month.
- Premium plan for 14.99 every month. Read more
Tipalti – Global Mass Payment, AP Software, B2B Payments
Tipalti is a cloud-based accounting management software which is utilized to help users program the process of payable accounts.
Features of Tipalti:
- Tipalti accounting software is the best solution for those businesses who work on deadline.
- It targets issues like non-compliance, late payments, and overload of administrative tasks and corrects them easily.
- International payment processing will become easy with Tipalti as it automates the payment operations with making you tax complaint.
The pricing range for Tipalti plans is between $100 to $1000 per month. However, it’s pricing never publishes on its website, so you will have to contact your vendor for pricing. Read more
OnPay – Online Payroll Services that Set Small Business FREE
A unique cloud-based solution for payroll that supports small businesses in automating tax filing and payment workflows is known as OnPay.
Features of OnPay:
- This software assists in managing payroll, programming filing of tax, and putting payment data.
- You can also organize benefits like health insurance, compensation insurance, and 401(k).
- It will provide you with multiple payrolls runs for W2 and 1099 employees.
- This software is a great solution for estimating and paying your taxes.
The plan for this software costs around $36 per month base fee with $4 per person per month. Read more
AccountEdge – Accounting Software for Small Business
AccountEdge is complete accounting software with lots of features for Mac and Windows desktop users. This software is designed especially for small businesses, which requires no monthly subscription.
Features of AccountEdge:
- Creating sales invoices with just one click is made possible with this software.
- It is a great solution for banking management by writing checks, reconciling your bank accounts, and preparing bank deposits.
- It assists in customer management by tracking important information about employees, customers, and vendor.
- This software creates reports for all of your accounts, transaction history, and current balances, etc.
- It performs full-service payroll from employee’s payments to tax filing.
- Handling credit card processing like transactions of the credit card with a flat fee or full merchant account.
- This software provides its customers with a free trial of thirty days.
- The base form of this software costs around $149 for new customers.
- For upgrading from the free version of this software, you will need to pay $99. Read more
“Each generation makes it’s own accounting to its children.” – Robert Kennedy
Kashoo – Invoice & Accounting Software for Small Business
Kashoo is an accounting solution that works online and utilized by freelancers, owners of small-business and independent entrepreneurs. It is used to manage audits, taxes, and other functions for accounting. You can also access this solution on mobile devices through an iOS app.
Features of Kashoo:
- It’s great software for small businesses which are looking for a simple solution.
- It is used for tracking expenditures, offering perceptive reporting, enabling personalized invoices, integrating with Stripe and BluePay for accepting payments of credit cards, and providing real-time feeds of banks.
- The pricing of this software has different types of mode like monthly in which you can pay $16.65 or yearly in which you have to pay $199.95.
- You can also pay according to your requirement and this will cost around $29.95 per month. Read more
OneUp is the actual all-in-one business suite that works online. Sales, Accounting, Invoicing, Inventory, CRM, and many more. OneUp is one and only software that is able to deliver such type of unified and instinctive business solution.
Features of OneUp:
- OneUp Accounting Software is a great software that works for both pricing and inventory management.
- It works by syncing with your bank, validating your suggested entries, and categorizing the bank entries.
- This software helps in managing your books accurately and quickly.
There are several types of costing plans for this software that includes
- Self- $9 per month
- Pro- $19 for two users per month
- Plus- $29 for three users per month
- Team- $69 for seven users per month
- Unlimited- $169 for unlimited users per month. Read more
FreeAgent – Accounting Software for Small Business
Cloud-based accounting software that works to manage invoices, payroll, expenses, tax returns and other accounting tasks for freelancers, accountants, and small businesses owners is known as FreeAgent. There is also an offer of dedicated mobile apps for iOS and Android devices with this software.
Features of FreeAgent:
- This software works well for sending estimates and proposals.
- FreeAgent software has amazing templates for invoices.
- It will provide you with personalized templates.
- It will help in sending recurring statements.
- This software will provide you with programmed bank feeds.
- You will also get statements for profit and loss with the use of this software.
- It will provide time tracking, expenditure tracking, and management.
For the first six months, this software costs around $10 per month and after six months, it will cost around $20 per month. Read more
Wave Accounting – Powerful, free Accounting Software
Wave Accounting is a free and well-designed platform for business that associates accounting, billing, and receipt scanning into one compress and simple set.
Features of Wave Accounting:
- It’s great software for billing and preparing invoices.
- You can also track your investment through this software.
- It will also prepare a financial report for your business.
- It accepts most of the credit cards for payment.
- It integrates with banks to avoid manual entry of the transactions.
This software solution is free of cost. Read more
These are some of the accounting software that provide small business owners with a great and unique solution. Each software has its own features. Accounting Software needs to be selected with utmost care and selection of the software should be given utmost importance as it will bring profit and success to the business.
A quick advice, Select that accounting software which will not only help you with quick summary of profit and loss statements and Balance sheet. But also which meets the legal requirements of the country.
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