13 best accounting software for small businesses 2023

Looking for the best accounting software marking small businesses? Then look no further, because you have landed on the right page.

Here we bring you a list of the best accounting software for small businesses.

Did you know that approximately 60% of small business owners feel they are not very knowledgeable about accounting and finance and approximately 64.4% of small businesses use business accounting software.

But if you start looking for the best ones on the internet, you will almost certainly be lost in the available options.

Do not worry anymore ! Because we bring you this well-curated list of the best accounting software for small businesses. Check it out!

  • FreshBooks
  • Bonsai
  • QuickBooks Online
  • Sage 50cloud
  • GoDaddy Accounting
  • Kashoo
  • xero
  • Zoho Books
  • OnPay
  • FreeAgent
  • WordPress accounting systems
  • Myob
  • Vague


1, FreshBooks

Modern and upcoming businesses are turning to cloud data storage and cloud computing. FreshBooks is based on the same technology.

FreshBooks is cloud-based and packed with must-have features.

Whichever rate plan you choose, you can send unlimited invoices, the ability to accept credit card payments online, track time and expenses, and also automatically sync your bank account.

Additionally, the software includes a built-in inventory management feature, called the BarCloud app.

FreshBooks offers three different pricing tiers, namely the Lite plan, which costs $15 per month; FreshBooks Plus for $25 per month; and finally, the Premium plan costs $50 per month.

The price is a little more expensive, but keeping in mind the different features available, it is a very good option. So overall, for one-man startups and small businesses that can compromise on some minor features, this is the one to go for.


2, Bonsai

Bonsai is the perfect accounting software for small businesses and freelancers. It's easy to use and has all the features you need to manage your finances.

You can track your income and expenses, create invoices and quotes, and track your clients and projects. Bonsai also includes powerful reports that give you insight into your business finances.

  • Easy to use: Bonsai is designed to be easy to use, even for businesses without accounting experience. The software is intuitive and user-friendly, allowing you to get started quickly.
  • All features in one: Bonsai includes all the features you need to manage your finances, including income and expense tracking, invoicing, estimates, client management, and project tracking.
  • Manage contracts: Keep track of your contracts with Bonsai's contract management features.
  • Get paid on time: Bonsai helps you get paid on time with invoicing and quotes. You can also set up recurring payments so you never have to worry about late payments again.
  • Track your finances: Bonsai's income and expense tracking feature helps you keep an eye on your money. You can see where your money is going and make sure you're staying within your budget.
  • Make informed decisions: Bonsai reports give you insight into your business finances, so you can make informed decisions about your money.

Bonsai offers three plans to choose from, the Starter plan starts at $24 per month.


3,  QuickBooks Online

One of the simplest and easiest to use small business accounting software on this list, QuickBooks Online has recently added some amazing features such as the addition of project management and invoicing tools.

The first thing you notice about QuickBooks Online is the interface. It is quite simple to use and uses charts and graphs to display expenses and financial increases.

You get features like multiple users which means you can have your employees on board with you and you can also set user access levels for them.

You can also keep track of all your expenses and payments. You can secure payments from different banking sources, PayPal, Square and credit cards.

The proposed dashboard is surprisingly simple and explanatory. You get all profit and loss explained right on your dashboard.

The plTariff years start at $75 and go up to $235, which is a pretty respectable amount for small businesses.

But features like custom user authorization, enhanced custom fields, and expedited billing make this software a good choice.


4, Sage 50cloud

Sage 50cloud is quite a famous and well-known name on this list. Sage 50cloud works surprisingly well for small and medium businesses.

Administrative tasks and inventory management will seem very easy using Sage 50cloud.

This accounting software comes with a ton of unique features like simplified invoicing, simple job costing, secure remote access for employees and accountants, and more.

A great feature of Sage 50cloud is the 24/7 Sage City online community, which is made up of tons of industry experts and certified partners, who are here to help with all your questions and queries.

Pricing plans start from $50.58/month and go up to $197/month for a single user.

So if you have a single person running a small business, this is a great choice for you.


5, GoDaddy Accounting

GoDaddy is quite a famous name in the online web hosting industry. GoDaddy also offers a complete business accounting solution for small businesses.

GoDaddy Bookkeeping is a great option for low-cost, medium-sized businesses that need to import data from platforms like Amazon, eBay, Etsy, and your bank accounts.

Some amazing and easy to use features are invoice generation and tax estimate calculation.

One notable feature here is the above mentioned website integration, which means that if you are selling or looking to sell your products on the above mentioned website, accounting and sales and profit management becomes very easy.

You will have all your data and information in a common place.

Pricing plans start at $4.99/month and go up to $14.99/month. All in all, a great option for small businesses and emerging businesses.


6, Kashoo

Kashoo aims and targets small businesses that are trying to create an effortless accounting environment for small business owners.

An absolutely perfect solution for businesses looking for an easy to use tool for small business accounting, as the software comes with a ton of easy to use features.

Kashoo helps you track your expenses and allows you to customize invoices and offers many in-depth analyzes of your transactions.

You can also integrate Stripe and BluePay integrations to accept credit card payments.

Kashoo also provides real-time banking feeds to help you keep track of your ongoing banking transactions.

Pricing plans start at $16.65/month and go up to $199.95/year. You can also choose the "Pay As You Go" feature, which is offered for just $29.95/month.

All in all, keeping in mind the number of unique features and real-time banking reviews, Kashoo is worth a try.


7, Xero

Xero is a great solution for small, one-person businesses and those on the go. Xero comes with all the must-have features like generating invoices, tracking inventory, and creating purchasable orders with invoices attached.

The best part here is that you can run this accounting software right from your cell phone and tablets.

Features like financial performance reports can be sent directly to you, and you can connect your bank accounts directly to your Xero account for a seamless and seamless experience.

You can also opt for premium payroll services, which you may have installed through Gusto, in partnership with Xero.

The pricing plans start at $9/month and go up to $70/month which is quite cheap compared to others.

All in all, a great choice for small businesses.


8, Zoho Books

Another very easy to use software for accounting and Zoho Books is very popular for its user-friendly interface and simple layout.

It's packed with amazing, must-have features like business workflow automation and collective work sharing, and includes other important financial practices as well.

One of the main features of this accounting software is that it offers more than 40 applications to integrate with your software, to increase your productivity and functionality.

No need to buy third-party inventory management software because Zoho Books comes with an integrated inventory management application. You can track your inventory levels, establish records and also organize your inventory as per your choice.

Speaking of pricing plans, there are three pricing plans available, namely Basic plan, which costs $9/month, Standard plan, which costs $19/month, and Professional plan, which costs $29/month.


9, OnPay

If your small business or single person running a business needs a simple, streamlined payroll system, then this is the one for you.

OnPay is quite a popular name in feature-rich and easy-to-use accounting software for small businesses. You get amazing features such as tax return automation, easy payment data entry, and more.

Unlike others, the software also manages your health insurance, indemnity insurance, and 401(k) with great ease, so you can focus on your business.

Plans start from $36/month and include a $4/month fee for each person you add to the program.

All in all, not a bad choice to try, if ease of use is your only goal.


10, Free Agent

FreeAgent is a very detailed and easy to manage accounting software with a ton of amazing features. You benefit from many features to estimate your expenses, create invoices and track your working time.

FreeAgent lets you integrate and connect your bank account to your accounting software's dashboard, helping you easily track your income and expenses.

FreeAgent allows you to use a 30-day free trial, which is not offered in other software.

Pricing plans start from $12/month for 6 months and then cost $24/month, which is not a bad choice at all.


11, WordPress Accounting Systems

In addition to cloud-based software, web-based solutions are also emerging for small business financial management. Take WordPress, for example, it's used by 35% of websites worldwide. It therefore makes sense to develop web-based and online accounting systems.

However, the number of accounting solutions on WordPress is extremely low. And the ones that exist are not very feature rich, they cover all the financial aspects of a business. One plugin, however, is making its mark among WordPress users as a complete small business manager.

WP ERP is the first ERP solution based on WordPress, with a full-fledged integrated accounting system as well as a CRM and HR manager. Combined with the advantages of a WordPress platform (open-source, web-based, customization, top-notch CMS), WP ERP stands out for its understandability and ease of use.

The Accounting module deserves special attention because it is intuitively designed for non-accountants. So even beginners find it easy to get started. Recently, it has developed a host of new functions allowing business managers to perform everything related to accounting, from basic to advanced functions.

Some of these features are - general dashboard, accounting statements, fiscal year setup, quote creation, receiving and performing payments, unlimited bank accounts, opening balance, preloaded accounts, sales invoices, product creation, unlimited users, partial payments, journals, tax rates, agencies, zones & categories.

Moreover, WP ERP accounting module has paid add-ons such as Payroll, Workflow, WooCommerce, Payment Gateways, Asset Manager, Inventory and Reimbursement.

The plugin has over 10,000 active installs with a 4.5 star rating and is continuously updated. For ease of use, Accounting WP ERP comes in 3-tier plans based on business stage, and there are ongoing discounts and sales throughout the year. It can also be purchased with the CRM and HR Manager module as a complete ERP.


12, Monob

If you do business in a country like Australia, you probably know that the tax department has made it mandatory for the company to use Single Touch Payroll to file taxes.

With One-Touch Payroll, you can report all your payroll data to the tax authorities so you don't have to do any legwork when you close the year.

Myob is a platform that offers a number of services related to accounting in a country like Australia. They have a Single Touch Payroll stalk which makes the payroll reporting process very simple and easy.

With the Myob system, you can use the hassle-free tax management system for just $5 per month.


13, Wave

Wave is a cloud-based accounting solution that helps small businesses manage their finances. The software offers a range of features including invoicing, caccounting and financial reporting. Wave Accounting is easy to use and offers a free trial so you can try it out before committing to a paid subscription.

Key Features of Wave Accounting Software:

1. Online Accounting: Wave Accounting software is cloud-based, so you can access your accounts from anywhere, anytime.

2. Invoicing: The software makes it easy to create and send invoices, and you can even set up recurring invoices for regularly billed services.

3. Bookkeeping: Wave Accounting software can help you stay on top of your finances by tracking your income and expenses.

4. Financial Report: The software provides a range of financial reports, so you can see how your business is performing.


Last word

So here is the list of best accounting software for small business. Pick the one that suits your needs and let us know your choice in the comments section below!

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