Best Small Business Accounting Software 2024

We chose Xero as one of the best accounting software solutions because it boasts all the essential accounting features a business may need, plus a host of advanced accounting features. The best accounting software is affordable, easy to use, and supports bank sync, tax reporting, and third-party integrations. These are our top eight picks for the best small business accounting software. These eight easy accounting software systems offer great prices and an assortment of basic features to help businesses successfully manage accounting and finances. QuickBooks Online also offers three levels of a payroll add-on, which can be accessed on the same dashboard as the accounting software. Additionally, there differentiating job costing from process costing are third-party apps that can integrate with QuickBooks Online to share data seamlessly.

FreshBooks Pricing

Next, I clicked on the “Projects” menu item from the left-hand menu. On the “projects” page, I clicked on “create new” and was given the option to create a flat-rate or hourly project. After clicking the “hourly project” option, I was taken to a new project template and prompted to enter a client, total hours worked, a project name, a project end date and the service rendered. I could also invite team members to join the project and assign and invite a client with just a couple of clicks. Signing up for the free trial required I simply provide my name and email, then retrieve a code from my email address to verify my identity.

Enterprise Resource Planning Software (ERP)

With a clear interface and features such as easy invoicing, expense tracking and timekeeping, users can navigate their financial tasks without a steep learning curve. The platform prioritizes simplicity, ensuring that even those with minimal accounting experience can maintain accurate and organized records. Additionally, many Patriot users rave about the quality of its customer support, the ease of setup, and the overall ease of use. OneUp earns a 3.7 out of five-star rating on Capterra with six user reviews and 4.1 stars on G2 with 20 reviews. While it has very few user reviews, users who posted say that it is an easy-to-use solution with task tracking and lead capturing tools. They also appreciate the friendly, responsive and knowledgeable customer service OneUp offers.

Jennifer Simonson draws on two decades as a journalist covering everything from local economic developement to small business marketing. Beyond writing, she tested entrepreneurial waters by launching a mobile massage service, a content marketing firm and an e-commerce venture. These experiences enriched her understanding of small business management and marketing strategies. Today, she channels this first-hand knowledge average collection period definition into her articles for Forbes Advisor. You can rely on free software, like Wave, to handle your accounting and invoicing needs.

1. Businesses can always move to more comprehensive accounting software as they grow, but Wave is a great cost-saving option and is the best in our review for businesses.
2. Here are some key factors to consider when researching and choosing the best accounting software for your small business.
3. For instance, Sage 100 Contractor is a preferred accounting option for professionals in the construction business.
4. We provide different levels of support, depending on the plan and/or the add-on features you choose.

Alternatives to Small Business Accounting Software

After rigorously reviewing 13 software expense accruals and the effect on an income statement companies, looking at several key datapoints, we rate QuickBooks Online as the best overall accounting software. That’s thanks to its excellent reputation and user friendliness, in addition to its robust customer support services. Key factors of consideration included cost, ease of use, reputation, and functionality. We prioritized software that was either low-cost or had an affordable plan in a series of pricing plans.

Our Experience

Many complain that the software needs more bank feed integration options and customization options. Xero is one of the most popular accounting software for small businesses, offering all the features you’d need. Beyond its core accounting capabilities, Xero offers an elevated experience for its record-keeping features. For example, it offers a document storage tool that allows you to drag and drop, upload or email documents to the platform, then sort and file them; however, you need to use a customizable filing system. From there, you can easily retrieve documents to attach to invoices as necessary.

Starting at $35 a month, which goes down to $17.50 per month for the first three months during the current promotion, QuickBooks offers four subscription plans ensuring users only pay for the features they need. With Zoho, users can send customized invoices, connect to payment gateways, track expenses, create a variety of business reports and calculate taxes. The portal allows users to share recent transactions, accelerate the estimate approval process, capture feedback and receive bulk payments in a timely manner.