1. QuickBooks Online

QuickBooks Online is a cloud-based accounting software designed for small businesses. It's one of the most comprehensive solutions out there, offering a wide range of features. QuickBooks Online Advanced is $200 per month and supports up to 25 users, making it suitable for larger teams.

Some of the standout features include:

• Accounts payable and receivable modules
• Invoicing and inventory management tools
• Payroll services for businesses with employees
• Time tracking for companies that bill clients hourly

With over 700 app integrations, QuickBooks Online can easily fit into your existing workflow. It's also very user-friendly, so you don't need to be a tech expert to get started. If you're looking to make invoicing customers easy and integrate invoicing and payments into the same platform, QuickBooks Online is a great option.

QuickBooks Online is a good option for many small businesses that are looking to make invoicing customers easy and integrate invoicing and payments into the same platform.

2. Xero

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.

Advantages of Xero:

· Infinite users in all of its plans.

· Inventory management.

· Complete reporting for all plans.

· Automation of bill captures.

· Double-entry accounting.

3. FreshBooks

FreshBooks is accounting software designed specifically for small businesses. It's a cloud-based accounting solution that allows you to track your business expenses, organize financial data, and produce reports with ease. You can also use FreshBooks to manage projects and send professional-looking invoices, which will help generate more revenue. This application makes it simple to stay on top of your finances.

Many third-party app integrations are available, such as Gusto, G Suite, and more. A unique feature of FreshBooks is that invoices can be highly stylized and customized for a professional look and feel. FreshBooks is a great tool for budgeting out projects, sending estimates or proposals, and collecting customer payments.

Founded in 2003 in Toronto, FreshBooks started as just an invoicing tool. Over time, more features have been added, and as of 2023, FreshBooks has over 30 million users.

Advantages of FreshBooks

• Time-saving features that automate accounting processes, including an option for sending invoices directly from this application.
• It offers unlimited users, so it's great for small business owners who need help staying organized when working together.
• Live and call support.

FreshBooks’s combination of stellar features, customizable invoices, and well-reviewed mobile apps make it pretty much perfect—especially for freelancers. Unlike Xero, FreshBooks lets you send an unlimited number of invoices and estimates with every plan. Each plan also includes time tracking for easier, more accurate client billing. FreshBooks’s built-in small-business expense tracking helps you maintain a balanced budget. And, like QuickBooks Online, FreshBooks includes built-in mileage tracking—a must for anyone on the go.

4. Zoho Books

Zoho Books is a fantastic choice for small business owners who need to manage their accounts payable, billing, and invoicing. It's part of the larger Zoho suite, which means it integrates seamlessly with other Zoho products like project management and CRM tools. This makes it a versatile option for those who want an all-in-one solution.

One of the standout features of Zoho Books is its ability to integrate with payment gateways, making it especially useful for e-commerce businesses. You can also keep track of different bank accounts, credit cards, and bills, all in one place. Users love its intuitive features, although there is a slight learning curve when you first start using it.

Zoho Books has received high ratings from users, with a 4.4 out of five stars on Capterra and 4.5 out of five stars on G2. While it has fewer reviews compared to some other software, the feedback is overwhelmingly positive. Users appreciate that it has all the features needed to handle small business accounting and invoicing, and that it integrates well with other Zoho tools.

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5. Wave

Wave is a fantastic option for small business owners who want a free, easy-to-use bookkeeping solution. Wave offers a range of resources to help you manage your finances without breaking the bank. From invoicing to receipt scanning, Wave has got you covered.

One of the best things about Wave is that it provides real-time financial info, so you always know where your business stands. Plus, it integrates seamlessly with your bank accounts, making transactions a breeze.

Here are some key features of Wave:

• Free accounting software
• Invoicing and receipt scanning
• Real-time financial info
• Seamless bank integration

Wave is perfect for small business owners who need a simple, effective way to manage their finances without spending a dime.

6. QuickBooks Solopreneur

QuickBooks Solopreneur is a cloud-based tool designed specifically for freelancers and part-time business owners. It helps you stay organized throughout the year, especially during tax season. With features like mileage tracking, expense sorting, and receipt organization, it makes managing your finances a breeze. Plus, it syncs seamlessly with TurboTax for easy tax filing.

Pros & Cons

Pros

• Cloud-based
• Mobile app available (iOS & Android)
• Tracks mileage
• Differentiates between business and personal expenses
• Syncs with TurboTax

Cons

• Somewhat difficult to upgrade to QuickBooks Online
• Relatively expensive for limited tools

Key Specs

If you're running a side hustle or a micro business, QuickBooks Solopreneur is a great option to keep your finances in check without much hassle.

One thing to note is that QuickBooks Solopreneur replaces QuickBooks Self-Employed, which is no longer available to new subscribers. Existing users can still use the older product, but new users will have to switch to Solopreneur. This software is perfect for those who need basic bookkeeping without the complexity of larger business tools.

7. AccountEdge

AccountEdge is a solid choice for small businesses that prefer a desktop-based system with the option for cloud flexibility. It covers everything from sales and invoicing to payroll, accounting, and inventory. One standout feature is its data management and report customization. You can tweak hundreds of reports, use filters, and create graphs and charts to make your data easy to understand. Plus, you can back up your data daily to keep it safe.

• Sales and Invoicing
• Payroll
• Accounting
• Inventory

For those who need remote access, there's AccountEdge Connect, a cloud app that lets you handle your accounting tasks on the go without losing any of the core features of the desktop software. This makes it a great fit for businesses that need both detailed desktop tools and the flexibility of cloud access.

If you're looking for a system that offers advanced data management, security, and reporting features, AccountEdge is worth considering. It even allows you to request a free copy for your accountant, so they can stay in the loop.

Most users find AccountEdge easy to use, though there is a small learning curve. Some users have reported glitches, especially on Mac computers, but overall, it's a reliable tool for managing your business finances.

8. NetSuite

NetSuite is one of the top software solutions for CFOs in 2023. Often called the Swiss Army knife of financial management, it offers automation, real-time analysis, and strategic planning. This makes it a great choice for businesses looking to scale.

NetSuite is cloud-based, so you can access your financial data from anywhere. It integrates financial management with inventory, HR, customer management, and e-commerce. This means you can manage everything from one platform, which is super handy.

Ease of Use

Users say NetSuite is easy to use right out of the box, but it often needs customizations to fit specific business needs. Once these customizations are in place, the learning curve can get steeper. Despite this, many users find it worth the effort.

User Reviews

NetSuite has thousands of user reviews on sites like Capterra and G2, with an average rating of four stars. Users appreciate its customization options and ease of use, although some find it pricey.

Best For Scaling

NetSuite is best for businesses that are looking to grow. Its cohesive approach ensures that as business complexities arise, NetSuite can adapt, providing a solid foundation for all your operational needs.

9. OneUp

OneUp is a budget-friendly bookkeeping package for small businesses, starting at just $9 per month for one user. It also comes with a generous 30-day free trial that includes all features. All plans offer the same features, differing only in the number of users and customer support levels. However, it doesn't have a free forever version, and its features aren't as robust as some similarly priced options.

OneUp earns a 4.1-star rating on G2 and a 3.7-star rating on Capterra. While it has fewer user reviews, those who have posted appreciate its ease of use, task tracking, and lead capturing tools. They also praise the friendly and responsive customer service. On the downside, it lacks time tracking and payroll features, which some competitors offer.

OneUp is flexible, offering two operational modes: “Do-It-For-Me” and “I-Do-It-Myself.” This allows businesses to choose how much control they want. The software includes dashboards, invoicing, CRM, and more, providing a comprehensive toolkit for managing finances.

OneUp can be a good choice for small businesses looking to streamline their operations on a budget. It offers CRM integration, inventory tracking, and reporting features.

In summary, OneUp is a solid choice for small businesses that need an affordable and flexible bookkeeping solution, even though it may not have all the bells and whistles of its competitors.

10. ZarMoney

ZarMoney is a software designed for businesses seeking flexibility and precision. It provides customizable online invoicing tailored to specific needs. The software integrates with over 9,600 financial institutions in the U.S. and Canada, offering a comprehensive view of finances for efficient management. Despite having fewer user reviews compared to competitors like Xero and FreshBooks, ZarMoney maintains a high average rating of 4.8 stars. It may be pricier and offer fewer features, lacking functionalities like time tracking, but it does provide a 15-day free trial. The platform boasts advanced features, including over 1,000 customizable reports. Setting up and using ZarMoney is straightforward, with ample resources like checklists, training videos, and intuitive navigation. While some processes may be slightly lengthy, the software's ease of use earns it a 4.5-star rating. ZarMoney offers three plans - Entrepreneur, Small Business, and Enterprise - priced between $15 to $350 per month. All plans include unlimited transactions, full features, and U.S.-based customer support, with variations in user limits and support levels.

Conclusion

Choosing the right bookkeeping software can make a world of difference for your small business. With so many options out there, it's important to find one that fits your needs and budget. Whether you're looking for something with all the bells and whistles like QuickBooks, or a free, easy-to-use option like Wave, there's something for everyone. Remember, the best software is the one that helps you keep your finances in check without causing you stress. So take your time, try out a few, and find the perfect fit for your business. Happy bookkeeping!