Top 10 Small Business Accounting Software

Are you running a small business and having a hard time doing the finances? Then it is time for you to read more about the top small business accounting software now!

 

✔ Last updated: 2020-07-06

If you do not want your small business to fail, then you have to learn how to manage your finances properly and learn about bookkeeping. With the help of the top small business accounting software, you can prevent your business from failing. Now, let’s learn more about the different software that can help your business become successful.

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Accounting Software

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★★★★★
100+ Ratings

Quickbooks Online

Fully-featured small business accounting software that integrates with your bank and plenty of third-party apps

 

✔Mobile App: Yes
✔Payroll: Yes

★★★★★
100+ Ratings

Wave

Excellent free and premium paid business accounting software that’s intuitive and easy to use for freelancers and micro-businesses

 

✔Mobile App: Yes
✔Payroll: Yes

★★★★★
100+ Ratings

Freshbooks

Handy and easy-to-use software for small businesses and freelancers to track projects, invoice, and receive payments

 

✔Mobile App: Yes
✔Payroll: No

★★★★
100+ Ratings

Xero

Easy-to-use yet powerful accounting software that presents a complete accounting solution, ideal for small businesses

 

✔Mobile App: Yes
✔Payroll: Yes

★★★★
100+ Ratings

Zoho Books

Great business accounting software that’s ideal for freelancers to invoice, track time and projects, and enable bill payments

 

✔Mobile App: Yes
✔Payroll: No

★★★★
100+ Ratings

Sage

Extensive business accounting software with plenty of accounting features and excellent customer support

 

✔Mobile App: Yes
✔Payroll: Yes

★★★★
100+ Ratings

Intuit Quickbooks Pro

Downloadable software for small businesses to manage all aspects of accounting. Easy integration with third-party finance apps

 

✔Mobile App: No
✔Payroll: Yes

★★★
100+ Ratings

Kashoo

Accounting software with multi-currency support and full bookkeeping features to support small businesses in every industry

 

✔Mobile App: Yes
✔Payroll: Yes

★★★
100+ Ratings

GnuCash

Free downloadable open source accounting software that can deal with every business accounting situation

 

✔Mobile App: Yes
✔Payroll: Yes

★★★
100+ Ratings

GoDaddy Bookkeeping

Effective accounting software for small businesses that integrates with Amazon, Paypal, Ebay, and Etsy

 

✔Mobile App: Yes
✔Payroll: No

Choosing the Right Accounting Software for My Business

A good accounting foundation is a key to making the company successful. With that in mind, you must practice good financial housekeeping or bookkeeping, and you must use the right software now. You cannot predict the future and more often than not, the future brings in more complex scenarios like bigger operational budget, more significant staff, or more customers. That only means that you will have to spend more time understanding the balance sheet. That is why it is essential for every business owner to use the right accounting software.

Accounting has been an essential part of every business organization. It provides businesses to monitor their profit, or in some cases, losses. The accounting process is necessary for sound financial management, and it enables businesses to keep track of their expenditure and income records, which is essential in making big decisions for your business.

Accounting and bookkeeping are very prone to human errors, but the right accounting software will definitely be reduced.

Can Accounting Software Help Reduce Costs?

One of the many reasons why businesses hesitate to purchase and implement accounting software is because they are not sure whether or not the software can really reduce costs. Here are some reasons why you should consider purchasing accounting software:

1. Salary of Finance Team – There are a numbers of factors when it comes to evaluating the accounting costs of a business, but the most obvious factor is the salary. The expenses for the finance team’s payroll can add up very quickly.

2. It Can Identify Wasteful Spending – Automation can free up time spent on manual data entry, so it means that you would reconcile in different sets of numbers in multiple Excel spreadsheets and other tasks. The finance department can spend their time on other parts of the business like evaluating the performance of the company. And since finance and the business side typically have more faith in the numbers after they are entered into the general ledger, they are more willing to make crucial decisions on that data.

3. Better Invoice – For small businesses, sending an invoice to the customers can be really expensive. Sending invoice encompasses maintaining master files and product files. Generating customer billing data, transmitting billing data to the customers, posting receivables entries, and resolving billing inquiries are all part of invoicing, which can be really costly.

But since accounting software is fully integrated with other departments, it can reduce the cost of invoicing as it can automatically generate and send invoices to your customers, and it can also recognize payments. The growth of the business basically involves more invoices, which means that higher costs for those payments are still stuck with manual processes. In addition to this, automated invoices and billing with the use of accounting software can result in fewer errors, which can improve relationships with your valued customers.

 

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