The software’s bookkeeping features include double-entry bookkeeping (the most accurate bookkeeping and accounting method), plus dozens of customizable reports. With these always at the top of my screen, I could easily complete key actions. However, not all actions were as useful as they would seem at first glance. When I clicked “+ create,” then “invoice,” I was taken to a long form to fill out to create an invoice. It was highly customizable, allowing me to answer details about the invoice that would aid in filing it in my storage system and making it searchable.
A closer look at our top accounting software picks
- Besides its primary plans, it also offers a custom plan with custom pricing for businesses with complex needs or large client bases.
- It’s an excellent choice if you already use other Zoho software or your business is set for growth since it easily scales.
- However, they say the platform could use more automations and more in-depth reporting.
Sometimes, the connections break, forcing you to set them up again. If your small business requires multiple people to have access to accounting software, Xero is worth a look. It’s also ideal for businesses that can take advantage of the lion’s share of its well-integrated features and need powerful reporting tools. Xero also lets you track fixed assets, which is unusual for the category.
QuickBooks Enterprise
Completed records get dedicated pages where you can access related information like historical activity. QuickBooks also helps users automatically calculate taxes to avoid end-of-the-year surprises. At any time, users can access their Sales Tax Liability Report to view up-to-date taxable and non-taxable sales.
$20 per Month
This lets them save and comment on invoices, save their payment information, invite others to access the account and examples of straight-line amortization collaborate on projects they’ve been invited to view. Below, our full list of the best small-business accounting software includes why we selected each product, monthly price details and features checklists for easy product comparisons. Simply put, the best accounting software is one that suits your unique needs. We offer flexible accounting plans to fit businesses small and large, across all industries, with integrations like payroll, time-tracking, and payments to help you grow efficiently when you’re ready.
In 2021, Neat transitioned to a full-fledged bookkeeping software to help small business owners spend minutes, not hours, doing their books. Xero is a great option for large teams and SMBs looking for accounting software that multiple team members can use. Freelancers and entrepreneurs who want an affordable plan might want to look elsewhere simply because of its basic plan’s limitation on the contra asset definition number of invoices. Sage Business Cloud Accounting, like the others we’ve mentioned, is cloud-based accounting software that doesn’t require any accounting knowledge to use.
They’re also available for questions during regular business hours. Finally, they generate the reports you need so debt financing: the definitive guide for small businesses you’re ready to prepare your taxes or hand them off to your accountant. Wave also offers fee-based bookkeeping and coaching services. Accounting software helps business owners understand how money flows in and out of their businesses. This can help you save time and make financial decisions quickly.
Higher-tier plans let users automate workflows and track project profitability, and give access to advanced inventory and analytics tools. In contrast to most accounting software, Xero includes unlimited users at no additional cost. You can generate interactive financial reports any time and send them to your key financial collaborators, including business partners or tax advisors. Along with its reasonable starting price, Xero’s freelance-friendly features include integration with more than a thousand third-party apps. Most importantly, it works with dozens of ecommerce apps for online sellers.
This list was highly customizable, a theme I would experience while testing different features on the platform. For example, I could immediately use the search bar across the top of the screen to search my documents by keyword. And when I clicked “filter” at the top of the screen, a drop-down menu appeared that allowed me to filter the documents stored by date added, source, folder, keyword search, category or date. Further, another “item type” button offered more filter options when clicked.
Sage Business Accounting starts at just $10, which is perfect for freelancers and self-employed business owners with no employees. But to get the most out of Sage Business Cloud Accounting, you really need the $25-a-month plan. The cheaper plan limits you to basic reports and one user only. In contrast, the pricier plan includes more thorough reporting, unlimited users, and cash flow forecasting. Xero is our top accounting software pick for small-business owners—its ease of use, low starting price, and thorough features set it apart.