1. QuickBooks Online

QuickBooks Online is one of the top bookkeeping packages for small business owners in 2023. It's popular because it offers a wide range of features that make managing finances easier. With QuickBooks Online, you can track income and expenses, create invoices, manage inventory, and run detailed reports.

One of the best things about QuickBooks Online is its flexibility. Whether you're a small business just starting out or a more established company, there's a subscription level that fits your needs. Prices range from having no monthly fees to $200 per month for the highest subscription level, QuickBooks Advanced.

Here are some key features:

• Expense tracking
• Managing bills
• Tax preparation
• Invoicing

QuickBooks Online is a great choice for those who want a comprehensive, easy-to-use accounting solution. However, if you're used to the desktop version, the switch might take some getting used to.

Overall, QuickBooks Online is a solid choice for small businesses looking to streamline their bookkeeping processes.

2. Xero

Xero is a top choice for small businesses, especially those needing multiple users to access the software. Founded in 2006 in New Zealand, Xero now has over 3.5 million subscribers worldwide. It's particularly popular in New Zealand, Australia, and the United Kingdom, and is growing rapidly in the U.S. as well.

Xero offers a full suite of accounting features, including project tracking, file storage, and customizable invoices. One standout feature is its document storage tool, which allows you to drag and drop, upload, or email documents directly to the platform. From there, you can sort and file them using a customizable system, making it easy to retrieve documents and attach them to invoices as needed.

For small businesses that need powerful reporting tools, Xero is a great option. It supports every major financial element you would expect in a double-entry accounting solution: sales, purchases, bills and expenses, inventory, and payroll. Xero offers exceptional reports and advanced analytics, providing tools for tracking projects and making good use of artificial intelligence to automate processes.

Xero is best for service-based businesses and those that need a well-integrated set of features. However, it might not be the best fit for sole proprietors or freelancers.

Overall, Xero's usability, features, integration options, and network of advisors make it one of the best small business accounting solutions available.

3. FreshBooks

FreshBooks is a fantastic choice for small businesses and freelancers who need an easy-to-use accounting solution. It's designed to save you time and hassle. With FreshBooks, you can manage receipts and expenses, track time, send invoices, and even accept credit cards. Plus, you get a dedicated account manager to help you get started.

Some of the best features include:

• Invoicing
• Time tracking
• Expenses and receipts
• Report generation
• Proposals and estimates

A unique feature of FreshBooks is the ability to create highly stylized and customized invoices, giving them a professional look and feel. It's also great for budgeting projects, sending estimates or proposals, and collecting customer payments.

FreshBooks started in 2003 in Toronto as an invoicing tool. Now, it has over 30 million users and offers a wide range of features.

FreshBooks integrates with many third-party apps like Gusto and G Suite, making it even more versatile. If you're looking for a tool that can handle all your accounting needs while being easy to use, FreshBooks is a top contender.

4. Wave

Wave is a standout option for small businesses, especially those with limited budgets. It offers powerful accounting tools and features for free. Here are some of its most valuable features:

• Invoicing
• Payment processing
• Accounting
• Payroll
• Mobile receipts, etc.

Its user-friendly interface makes it accessible even for users with little to no accounting background. The Wave dashboard provides a clear overview of key financial metrics.

5. Zoho Books

Zoho Books is a fantastic choice for small businesses, especially if you're already using other Zoho applications. Zoho is a particularly good option if you're a smaller or medium-sized business (SMB) in search of an alternative to larger, more expensive software. The software integrates seamlessly with Zoho's suite of tools, including CRM, customer service, and email, making it a versatile option for various business needs.

One of the standout features of Zoho Books is its affordability. There's even a free version available, which is great for businesses on a tight budget. However, the depth of its features might be overwhelming for very small businesses but is welcomed by companies with more advanced needs.

Zoho Books excels in standard bookkeeping areas like sales and purchases, time and project tracking, and inventory management. It's also equipped with excellent accounting functionalities tailored specifically for e-commerce, including integration with payment gateways.

While Zoho Books has fewer user reviews compared to some competitors, it still boasts high ratings. On Capterra, it has a 4.4 out of five-star rating from 618 reviews, and on G2, it has a 4.5 out of five-star rating from 264 reviews. Users find the features intuitive to use, although there is a slight learning curve to locate all features. Once you get the hang of it, completing tasks becomes intuitive, even for advanced tasks like setting up automations.

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.

6. AccountEdge

AccountEdge is a solid choice for small businesses that need a detailed desktop-based system with the option for cloud flexibility. It covers everything from sales and invoicing to payroll, accounting, and inventory. One of its standout features is its advanced data management and reporting capabilities. You can customize hundreds of reports, use filters, and create graphs and charts to make your data easy to understand.

For those who need to work remotely, AccountEdge Connect is a great add-on. Starting at $15 per user per month, it lets you log in from your mobile device to record time worked, sales, and purchases. The data then syncs automatically with your desktop account.

• Bank Feeds: For $5 per company file, you can attach bank and credit card accounts to sync transactions for easy reconciliation.

AccountEdge is easy to use but does have a small learning curve. Some users have reported glitches, especially when setting it up on a Mac. Despite this, it remains a robust option for those who need comprehensive bookkeeping tools.

7. NetSuite

NetSuite is one of the top software solutions for CFOs in 2023. It's like the Swiss Army knife of financial management, offering automation, real-time analysis, and strategic planning. This cloud-based solution ensures that businesses have access to their financial data wherever they are.

NetSuite's accounting functionality is extremely robust and powerful. The flexibility of its general ledger and its ability to handle complex revenue recognition scenarios have served clients well across many different industries. Two standout features are its integrated accounts receivable and payable modules, which really help streamline cash flow management, and its real-time reporting tools, which give clients excellent visibility into their financials.

NetSuite integrates with other NetSuite products to create one unified platform for all of your business functions. It works by offering a core platform with your subscription, then a selection of modules you can integrate together to create one custom solution. For example, you can integrate it with NetSuite’s financial, inventory, HR, customer management, and e-commerce modules.

NetSuite adapts as business complexities arise, providing a foundation that supports not just accounting needs but a company’s holistic operational demands.

Users say NetSuite is easy to use out of the box but often requires customizations to meet business needs. Once those customizations are implemented, the learning curve steepens. Despite this, it remains a favorite for businesses looking to scale, with thousands of user reviews on sites like Capterra and G2, averaging four stars.

8. OneUp

OneUp is a budget-friendly option for small businesses, with prices 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 include every feature, with differences only in the number of users and customer support levels. However, it doesn't offer a free forever version, and its features aren't as extensive as some similarly priced options.

OneUp earns a 4.1-star review on G2 and a 3.7-star rating on Capterra, based on 26 reviews across both sites. This shows it has a relatively low popularity compared to other top accounting software products. Users appreciate its ease of use, task tracking, and lead capturing tools. They also praise the friendly and knowledgeable customer service. However, it lacks time tracking and payroll features, which some competitors provide.

OneUp offers flexibility with two operational modes: “Do-It-For-Me” and “I-Do-It-Myself.” This allows businesses to choose how much control they want. It includes features like dashboards, invoicing, and CRM, providing a comprehensive toolkit for managing finances.

OneUp is a solid choice for small businesses looking for an affordable and flexible accounting solution, though it may not have all the bells and whistles of its competitors.

9. ZarMoney

ZarMoney is a customizable software built for businesses that need flexibility and precision. At its core, it offers dynamic invoicing capabilities allowing businesses to generate bespoke online invoices tailored to their specific requirements. This adaptability extends to bank connections, integrating with over 9,600 financial institutions across the U.S. and Canada. This ensures that businesses have a singular view of their finances, with the ability to review, edit and reconcile records efficiently.

With 107 user reviews across Capterra and G2, ZarMoney earns an average 4.8-star review across both sites. Notably, it has far fewer user reviews than competitors such as Xero and FreshBooks. For these reasons, I’ve awarded ZarMoney a 4.8-star rating for popularity.
Ease of Use

I found ZarMoney to require a very low learning curve to set up, customize and use. In addition, it offers plenty of checklists, training videos and instructions for how to complete key tasks and how to customize the platform to small business needs. And, buttons and links to complete needed tasks are in intuitive-to-find spaces within the software. However, some processes are a bit lengthier than I would have preferred. Overall, I give ZarMoney a 4.5-star rating for ease of use.

See MoreSee Less

ZarMoney is more expensive than some providers on this list but has fewer features than most, even lacking key features like time tracking. It also does not have a free plan. However, it does have a 15-day free trial. Regarding the features it does have, many are advanced, such as over 1,000 customizable reports. For these reasons, I awarded ZarMoney a 3.0-star rating for value for the money.
Popularity

PRICING AND VALUE

ZarMoney offers three plans: Entrepreneur, Small Business and Enterprise. Their pricing ranges from $15 to $350 per month. All plans offer unlimited transactions, all ZarMoney features and U.S.-based customer service. Plans differ on the number of users, if you can add more users and the level of customer support offered. Here are the pricing and feature details for each plan.

10. Neat

Neat is a solid choice for small businesses looking for an easy-to-use bookkeeping package. One of its standout features is the document search function, which makes finding files a breeze. The always-visible “create” button at the top of the interface also adds to its convenience. However, some features, like the invoice function, are not fully developed, which can be a bit frustrating.

Neat has an average user rating of 4.2 stars on sites like Capterra and G2. While this is respectable, it only has 110 reviews, which is far fewer than competitors like FreshBooks and NetSuite. This limited number of reviews brings its popularity score down to 3.7 stars.

Neat excels in document management, offering a unique data line itemization feature. This allows users to break down receipts in detail, ensuring every transaction is categorized and accounted for. With the ability to store unlimited files and data capture verified by humans, accuracy and organization are top priorities.

Neat is especially useful for self-employed professionals who need to focus more on their core business rather than bookkeeping tasks.

You can drag and drop documents into Neat or import them using a scanner. Once uploaded, you can organize them by type, tax category, project, client, or month. All files can receive and share comments, making it easy to collaborate with colleagues or your accountant.

Conclusion

Choosing the right bookkeeping software can make a big difference for your small business. With so many options out there, it's important to pick one that fits your needs and budget. Whether you need something simple or a tool with lots of features, there's a package out there for you. Remember, the best software is the one that helps you keep your finances in check without causing you stress. So, take your time, do your research, and pick the one that feels right for you. Happy bookkeeping!