While there is no shortage of small business accounting software available today, choosing the right tool to manage your business finances can be challenging. With so much overlap in functionality and differences in pricing, it’s all too easy for business owners to end up choosing the wrong accounting tool.
Even after a modest length of time, switching to another accounting program can seem more of a hassle than it’s worth––a great example ofthe sunk cost fallacy––which makes choosing the right tool in the first place particularly important.
That’s why we’ve put together this list of the best accounting software for small businesses.
Top online accounting software picks for 2023
- Best overall small business accounting software:QuickBooks Online
- Best accounting software with customer support:FreshBooks
- Best free accounting software:Wave
- Best accounting software for beginners:Zoho Books
8 best small-business accounting software tools
1. FreshBooks
Best accounting software for customer support
One of the most popular and well-known small business accounting tools available today isFreshBooks.
FreshBooks’ accounting software includes smart technologies andback-office automationdesigned to reduce manual data entry and make bookkeeping easy. For instance, FreshBooks can be configured to automatically reconcile credit and debit amounts and can automatically import financial data from a range of sources.
Users can easily access importantfinancial statementslike:
- Balance sheet
- Income statements
- Cash flow statements
Users can also adjust access permissions on an individual basis. For example, employees can be granted limited access to financial reports, while accountants can be provided with additional administrator privileges.
Pros:
- Highly rated customer support
- Time-tracking and mileage tracking features included in all plans
- Wide range of cloud accounting features
Cons:
- Limited number of users and clients
- Lowest-tier plans don’t offer bank reconciliation or accountant access
- 没有quarterly tax estimates
Available for:Web application (cloud-based software)
Mobile app:Android, iOS
Price:Plans begin at $4.50 per month for lite plan
Free trial length:30 days
Shopify app or integration:Yes
2. Wave
Best free accounting software
Many of the small-business accounting software tools on this list are inexpensive. But for newly launched independent businesses with little cash to spare, any additional expense can break the bank.Wave, an accounting tool designed for small businesses, understands that problem, which is why it’s 100% free.
Available for Windows and OS X, and with Android and iOS apps for invoicing and receipts, Wave is ideal for independent businesses still finding their feet. Wave Accounting can do almost everything premium accounting software tools can do, including expense management, banking reconciliation, payroll, and invoicing.
If all this sounds too good to be true,sign up for a free accountand see how Wave can help you manage your business’s accounts in less time––all without spending a dime.
Pros:
- Completely free
- 复式记账会计报告
- Unlimited users with control over user permissions
- Unlimited invoice creation with customizable templates
- Mobile invoicing accounting app
Cons:
- 没有phone support; live chat only available for paid add-ons (Wave Payments and Payroll)
- 没有updates planned for current features
- 没有advanced accounting options
Available for:Web application (cloud)
Mobile app:Android, iOS
Price:Free
Free trial length:n/a
Shopify app or integration:没有
3. Zoho Books
Best mobile accounting software
Zoho Booksis an online accounting software with accounts payable, accounts receivable, and inventory management capabilities. The invoicing software is blazing fast and its bookkeeping software offers a lot of features for a good price. Zoho Books is a great alternative to more expensive options like QuickBooks Online and can still meet all your business needs.
Pros:
- Most accounting tasks possible through the mobile app
- Fairly powerful free version of software
- More affordable than similar accounting software
- Multicurrency capabilities in top tier plan
Cons:
- Must pay for advanced features like project tracking and workflow automation
- 没有ability to track fixed assets like real estate, land, or equipment
- Limited number of users with each tier
Available for:Web application (cloud)
Mobile app:Android and iOS
Price:Free for businesses generating less than $50,000 per year in revenue; paid plans start at $15/month
Free trial length:14 days
Shopify app or integration:Yes
4. QuickBooks Online
Best overall accounting software
Intuit’s QuickBooks Onlineis a popular accounting platform that can help business owners handle their accounting quickly and easily.
QuickBooks Online has everything small business owners need to take control of their bookkeeping. It features a clean, simple interface and intuitive reporting, meaning even newcomers can get up to speed quickly. All QuickBooks Online plans include mileage, income, and expense tracking, sales and tax reporting, and tools to manage 1099 contractors.
QuickBooks Online’s other plans offer additional functionality, such as inventory tracking, support for up to 25 individual users, and even access to a dedicated customer support manager.Plans start at $15 per month.
Pros:
- Inventory management included with QuickBooks Online Plus and Advanced
- 复式记账会计报告
- Third-party app integration
- Plenty of QuickBooks Online tutorials, experts, resources, online
Cons:
- Monthly plans are pricier than other accounting software options
- Each plan allows only a limited number of account users
- 高级功能有一个学习曲线
Available for:OS X, Windows, web application (cloud)
Mobile app:Android, iOS
Price:Plans begin at $15 per month
Free trial length:30 days
Shopify app or integration:Yes
5. Sage 50cloud
Best accounting software for customization
Sage 50cloud Accountingoffers comprehensive, cloud-based accounting software for small businesses with extensive customization options and advanced features.
Sage 50cloud’s Pro Accounting plan––the least expensive option, available for less than $30 per month––is aimed at smaller independent businesses. It can handle a range of accounting tasks, including expense management, invoicing, and inventory tracking. Sage 50cloud Accounting also integrates seamlessly with Microsoft Office.
Sage’s other plans offer additional advanced features, such as role-based security privileges and account management for multiple companies, but may be prohibitive for smaller businesses with moremodest budgets.
Pros:
- Lots of customization options to fit your needs
- Tools to manage and track inventory
- Microsoft 365 integration
Cons:
- 没有mobile app
- Clunky user interface
- Time tracking not included with any plan option
Available for:Web application (cloud), Microsoft 365 integration
Mobile app:没有
Price:Plans begin at $346/year
Free trial length:没有ne, but you can get alive demoof the software
Shopify app or integration:没有
6. Kashoo
Best accounting software for workflow automation
Kashoo’s small business accounting software aims to help business owners automate much of the administrative work behind bookkeeping.
Thanks to machine-learning algorithms, Kashoo understands your business better the more you use it. Everything from receipt categorization to sales tax tracking is analyzed by Kashoo, which lets the tool make individualized recommendations on steps to save money, minimize waste, and streamline overall efficiency.
Kashoo’s intelligent, automated approach to accounting won’t be for everybody.Kashoo costs $20 a month, but business owners interested in its approach to bookkeeping cansign up for a free trial, or use Kashoo for just $1 for the first year.
Pros:
- User friendly
- Unlimited number of users
- Great customer support
- Automation of a lot of administrative processes
Cons:
- 没有Android mobile app
- Relatively few integration options
- Lacks features like time-tracking and inventory management
Available for:Web application (cloud)
Mobile app:iOS
Price:$1 for first year, then $20 per month
Free trial length:14 days
Shopify app or integration:没有
7. OneUp
Best accounting software for inventory management
Like Kashoo,OneUpaims to make bookkeeping a much more streamlined process by automating routine tasks.
Over time, OneUp “learns” how your accounting works by analyzing inputs, such as bank account transactions. OneUp then prompts the user to validate suggested reconciliations with a single swipe on a mobile device. These validations further train OneUp’s algorithms to offer more accurate suggestions in the future. OneUp can also match individual bank transactions with overdue invoices, saving business owners even more time.
Pros:
- Excellent inventory management module
- Simple setup process
- Built-in CRM function
- Pulls in banking info for automatic bookkeeping
Cons:
- 中性没有工资ities
- Expensive for businesses with a lot of team members (unlimited user plan $169/month)
- 没有time-tracking features
Available for:Web application (cloud)
Mobile app:Android
Price:Plans begin at $9/month
Free trial length:30 days
Shopify app or integration:没有
8. Xero
Best accounting tool for growing businesses
For business owners who find themselves constantly on the go,Xeromight just be the accounting tool they’ve been waiting for.
Xero is an intelligent accounting software tool aimed at small businesses, with an emphasis on ease of use and mobile utility. Xero can be synced across multiple devices and offers users updates in real time, giving business owners the latest information wherever they might be.
The product features a clean, intuitive user interface and can handle a range of accounting tasks, including payroll (via an integration with Gusto), expense tracking, billing and invoicing, and sales tax calculation, among other features.Pricing starts at $12 per month.
Pros:
- Unlimited users for all plans
- Hubdoc included in all plan tiers (automatic capture of receipts and bills)
- Can manage fixed assets
- Effective project tracking
Cons:
- Payment processing may lag for PayPal transactions
- 没有automatic reminders for unpaid invoices
- 没有phone support
Available for:Web application (cloud)
Mobile app:Android, iOS
Price:Plans begin at $12/month
Free trial length:30 days
Shopify app or integration:Yes; third-party integrations available
Read more:The Entrepreneur’s Guide to Small Business Finance and Accounting
Accurate accounting means better business
没有two businesses are exactly alike, and an accounting solution that works well for one business may not work at all for another.
While there’s a great deal of overlap between thesmall-business accountingsoftware above, only you can decide which tool is right for your business.
Some business owners may see sophisticated reporting functionality as an essential feature, whereas some may prioritize automated reconciliation. Before investing in a new accounting system, it may be worth taking advantage of a few free trials before committing to a decision.