1. QuickBooks Online

QuickBooks Online is a top choice for small business owners looking for a comprehensive accounting solution. It's packed with features that make managing your finances a breeze. From invoicing to expense tracking, this software has it all. While it might be a bit pricey, many find it worth the investment.

• Accounts Payable
• Accounts Receivable
• Bank Reconciliation
• Billing & Invoicing
• Expense Tracking
• Financial Reporting
• General Ledger
• Income & Balance Sheet
• Inventory Management

We love QuickBooks Online for its ease of use. The intuitive interface makes financial management easy. There is also a library of tutorials to ensure smooth implementation for beginners. If you need additional help, there is an add-on for bookkeeping services called QuickBooks Live. It pairs you with a certified financial expert to help you get the most out of your QuickBooks Online plan and keep your finances organized.

2. Xero

Xero is a trendy choice for small businesses and their accountants. It makes company financial data available to all relevant parties, including external accountants and advisors. Xero is online accounting software that offers the convenience of running your business from anywhere. It’s designed for the small business owner who doesn't want to spend a lot of time learning accounting but wants to stay on top of business performance. Xero works great for a variety of niche markets, including retail, IT, legal, e-commerce, and start-ups, and its ability to deal with multiple currencies makes it a good fit if you conduct business globally.

Xero stands out for offering versatile plans that suit various business needs. All plans have fundamental accounting features, including bank reconciliation, invoicing, online payments, receipt capture and sales tax tracking. As users upgrade to the higher plans, they get access to project tracking, multi-currency support, expense management and reporting.

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.

3. FreshBooks

FreshBooks stands out by offering essential features without overwhelming users with unnecessary options. It provides tools for tracking and managing invoices, recording expenses, tracking time and billable hours, managing projects, making client estimates, receiving payments, producing reports, and collaborating with a team. Upgrading to higher tiers unlocks additional features like recurring invoices, receipt data capture, and customizable templates.

FreshBooks makes it easy to stay organized. You can keep track of payments owed and expenses made, send invoices, and accept payments. While there are many accounting software options, FreshBooks is a solid choice for small businesses.

FreshBooks combines ease of use with essential accounting features, making it an excellent choice for managing business finances efficiently.

4. Zoho Books

[Zoho Books](https://www.provencfo.com/blog/top-accounting-software-for-therapists-streamline-your-practice-finances) is a powerful, cloud-based accounting software that focuses on the professional side of things. While the interface can sometimes feel cluttered, especially when navigating away from the dashboard, there's a lot of power here. Zoho Books is an excellent choice for businesses that plan to grow and for those already using other Zoho software.

Zoho Books is the small business accounting element of Zoho's business software ecosystem. Your accounting data can be tightly integrated with numerous related apps and functions, like CRM, customer service, and email. Zoho Books' usability, flexibility, and depth in standard bookkeeping areas (sales and purchases, time and project tracking, and inventory management) equals and sometimes surpasses what's offered by competitors.

Zoho Books is surprisingly affordable, and it even has a free version. Overall, though, Zoho Books is best for businesses that use other Zoho applications, but its appeal isn't limited to such cases. We also recommend it to larger small businesses, growing businesses, and established businesses that want its customizability, depth, and usability. That said, the depth of its features might be overwhelming to very small businesses but welcomed by companies with more advanced needs.

Zoho Books is part of Zoho's larger business software ecosystem, which means your accounting data can be tightly integrated with other Zoho apps like CRM, customer service, and email. This integration adds a lot of value, especially for businesses looking for a comprehensive solution.

Zoho Books offers the largest selection of plans out of the providers in this review. There are four plans, including the free version, for new and growing businesses. If you are more established, there are two additional plans with advanced features.

5. Sage 50

Sage 50 is a powerful accounting software that offers a wide range of features. It's perfect for businesses that need strong inventory-tracking capabilities. This software is especially good for companies that need advanced accounting features and customizability. Sage 50 is a desktop software, but it also allows remote access through Sage's Remote Data Access.

Some of the key features include:

• Sales tracking
• Reporting
• Invoicing and payment processing
• Vendor, customer, and employee management

If you're looking for a comprehensive accounting solution, Sage 50 might be the right choice for you. It does more than what many small businesses need, but it comes at a higher cost.

While it integrates with Microsoft 365 Business for some remote work, it doesn't have a mobile app and has a dated interface. However, its robust features make it a strong contender in the accounting software market.

6. Wave

Wave is a fantastic choice for small businesses and freelancers who need a free, easy-to-use accounting solution. One of the best things about Wave is that it's completely free. You can manage your finances without worrying about monthly fees.

Wave offers a variety of features to help you stay on top of your finances. You can track your income and expenses, send invoices, and even scan receipts. It's a great asset for anyone looking to streamline their accounting process.

Another cool thing about Wave is its ability to connect with your bank accounts. This means you can automatically import transactions, saving you time and reducing errors. Plus, Wave provides detailed financial reports, so you always know where your business stands.

If you're a small business owner or freelancer, Wave is definitely worth checking out. It's a powerful tool that won't cost you a dime.

7. NetSuite

NetSuite is a cloud-based software that offers a suite of ERP applications, financials, inventory management, HR processes, professional services automation, and omnichannel commerce. It aims to streamline accounting processes all in one place and generate real-time data. This software presents opportunities for startups, fast-growing businesses, family-owned to mid-sized businesses, and PE- or VC-backed businesses. They also solve manual processes, ease data accessibility, reinforce data accuracy.

NetSuite provides full-scale financial management, handling everything from bookkeeping to bill pay to tax preparation. You can pair accounting with CRM, human resources (HR) and other aspects of business management, as NetSuite offers a full suite of business products.

NetSuite's core ERP platform includes accounting, inventory management, order management and tax management. However, there is no shortage of modules you can add to customize the software to your needs.

Key Features

• Get 360 visibility and optimization on cash management.
• Accelerate processes with enhanced accounts receivable tools.
• Save time and avoid late fees on accounts payable.
• Organize local and global tax management details.
• Use a fully integrated fixed assets solution.
• Boost collections and reduce sales outstanding.

Pricing

By quote

User Ratings

NetSuite is a cloud ERP solution, providing a suite of applications, from accounting and financial planning, to warehouse management, ecommerce, inventory management and beyond.

8. Neat

Neat is a handy tool for those who want to keep their documents organized and easy to find. One of its best features is the document search function, which makes it simple to locate any file you need. Plus, there's an always-visible "create" button at the top of the software interface, so you can quickly add new documents. However, some features, like the invoice feature, aren't fully developed, which can be a bit frustrating at times.

Neat has an average user rating of 4.2 stars on sites like Capterra and G2. While this is a solid rating, it's based on only 110 reviews, which is fewer than some of its competitors. This affects its popularity score, bringing it down to 3.7 stars.

One standout feature of Neat is its data line itemization. This allows users to break down receipts in detail, making sure every transaction is categorized and accounted for. You can store unlimited files, and the data capture is verified by humans, which means accuracy and organization are top priorities. This is especially useful for self-employed professionals who need to focus on their core business.

Neat's document management tools are advanced, offering the ability to search PDF documents and use compatible scanners with double-sided and multi-size scanning capabilities. However, some users prefer the older version of the software over the cloud-based one and find it annoying to log in repeatedly due to software glitches.

9. NCH

NCH is a free-to-download desktop accounting software that takes a simplified, no-fuss approach to accounting and bookkeeping. If you need more than five users or want advanced capabilities, NCH offers a few upgrades that cost $100 to $200 per year.

Pros and Cons

• Unlimited file storage
• Bank-level security to keep your files safe
• Add-on for basic accounting capabilities
• Integrations with many finance and communication apps

Cons:

• One plan offering
• No accounting features in the base plan
• Lack of advanced accounting features
• Annual billing only

Our Take

NCH is best for simplicity. It’s another basic software that you download onto your computer. The simplified, affordable approach to accounting comes at a cost, though. Both the website and platform look outdated. The website also provides limited information on what the platform can do. You may have to download and test the free version to get a better understanding of what it offers.

NCH’s simplified, affordable approach to accounting comes at a cost, though. Both the website and platform look outdated. The website also provides limited information on what the platform can do. You may have to download and test the free version to get a better understanding of what it offers.

10. Quicken

Quicken is a versatile accounting software that helps you manage both personal and business finances on one platform. It's especially useful for small business owners who need to keep track of everything in one place. One of the standout features is its property management tools, which are perfect for landlords.

Quicken offers a range of features that make it easy to handle your finances:

• Accounts Payable
• Accounts Receivable
• Bank Reconciliation
• Billing & Invoicing
• Expense Tracking
• Financial Reporting
• General Ledger
• Income & Balance Sheet
• Inventory Management

The balance sheet page provides glossary terms related to various tools for tasks, budgeting, reporting, and financial management in businesses.

With Quicken, you can also track tenant information, manage income, and keep an eye on expenses. It's a solid choice for anyone looking to streamline their financial tasks.

Conclusion

Choosing the right accounting software can really make a difference in how you manage your finances. Whether you're a freelancer, a small business owner, or running a larger company, there's a tool out there that fits your needs. From user-friendly options like QuickBooks Online to more specialized tools like NetSuite, the choices are plenty. Take your time to explore and find the one that works best for you. Remember, the right software can save you time, reduce stress, and help you keep your finances in check. So, dive in and find the perfect fit for your business!