Accounting software has become an absolute requirement for businesses of all sizes. They are vital for managing finance and associated activities, including expenses and profit. In this way, organizations can manage their activities and survive in this competitive environment. As the importance of these tools is increasing, numerous options are available on the web, making it challenging for individuals to find the best one. That’s why we came up with this guide to provide you with insights regarding the top 8 accounting software services you should acquire for your company.
Best Accounting Software Services for Businesses
As mentioned, an extensive collection of accounting software services is available on the web. All of them promise to deliver all the features required for exceptional finance management. But, we have selected the top 8 and detailed their features below. You must understand them well and determine which will be the best fit for your requirements. Also, consider their pricing and your budget to make the quality purchase decision.
1 – QuickBooks
QuickBooks Online is one of the most used accounting software, which is compatible with businesses of all sizes. The cloud-based functioning helps you manage several financial activities, including invoicing, expenses, and financial reporting. Other features are:
- It allows integration with third-party apps.
- You can generate profit/loss statements for better financial understanding.
- A simple interface enables everyone to use it.
- Simple Start: $97.20 per year
- Essential: $145.80 per year
- Plus: $205.20 per year
2 – Zoho Books
Secondly, we have placed Zoho Books in this list of the best accounting software for businesses. Zoho Corporation has developed this advanced tool to simplify the bank reconciliation process to ensure accurate bookkeeping. Additionally, it showcases the following attributes.
- You can track expenses and categorize them according to some standard.
- The built-in collaboration tool allows multiple people to work simultaneously.
- Zoho Books automates payments and recurring billing to deliver comfort.
- Standard: $10 per month
- Professional: $20 per month
- Premium: $30 per month
- Elite: $100 per month
- Ultimate: $200 per month
3 – NetSuite ERP
Oracle, the leading partner for businesses of every size, has launched its accounting software, Netsuite ERP. The ERP stands for enterprise resource planning, which means that it is a comprehensive solution to manage finances as well as overall resources. Hence, it enables your company to run smoothly. Its top features are:
- A complete ERP functionality to streamline the usage of all resources.
- You will get real-time reports and analytics to modify your working strategy accordingly.
- Netsuite offers automation to smoothen several hectic tasks.
There is no announced pricing structure to leverage the potential of Netsuite ERP. Instead, you will receive customized prices upon contacting.
4 – FreshBooks
FreshBooks is designed for businesses of all sizes and self-employed professionals. It mainly focuses on client collaboration to streamline the transaction process. Further, you can track the details anytime and from anywhere as it works on a cloud basis. The other features are the following.
- The mobile app is available for tracking on-the-go
- Strong invoicing and time-tracking feature is integrated.
- The standard interface is extremely easy to operate.
- Lite: $3.40 per month
- Plus: $6 per month
- Premium: $11 per month
5 – Wave Financial
Wave is another brilliant accounting software that can resonate best with the requirements of all individuals. Whether you are an entrepreneur, a business owner, or a freelancer, you can opt for this platform to manage your finances. In addition, you can keep a record of your expenses and earned money. Some other characteristics are the following.
- Wave offers payroll services to allow businesses to provide salaries to their workers.
- Users can simply categorize their experiences according to different criteria.
- The platform can also integrate banks to import transactions automatically.
- Invoicing: $0
- Accounting: $0
- Mobile Receipts: $8 per month
- Payroll: $40 per month
- Advisors: $149 per month
6 – Sage Intacct
Although Sage Intacct is not as popular as Zoho or Wave, it is one of the best cloud-based financial management software and accounting software. Generally, it is not suitable for new startups due to its advanced infrastructure. You can utilize its potential for ledger management. Its financial reporting and automation attribute has no replacement. Above all, it possesses the following qualities.
- Sage Intacct can handle numerous financial tasks simultaneously.
- You can generate customizable reports to find key performance indicators.
Just like NetSuite ERP, you have to send a request to get the pricing details as no plan is announced officially.
7 – Xero
Xero is the best accounting software service for small and medium-sized businesses. It possesses a strong infrastructure that integrates different tools for invoicing, expense tracking, and collaborative financial management. Moreover, the intuitive interface is extremely easy to operate. The top functionalities of this tool are:
- You can integrate third-party apps for better results.
- Xero provides you with immense collaboration tools for enhanced team communication.
- Also, you can access financial data and reconcile bank transactions.
- Starter: $29 per month
- Standard: $46 per month
- Premium: $62 per month
8 – FreeAgent
Lastly, we have placed FreeAgent in this guide on the best accounting software services for businesses. This platform is widely famous for its simple interface to simplify financial tasks such as invoicing and tax calculation. Besides, it provides insights into a better management plan. FreeAgent has the following exclusive characteristics.
- It serves as the best platform for small businesses as well as for freelancers.
- The affordable pricing saves a more significant sum from spending on other software.
- Streamline accounting process with built-in automation tools.
A universal pricing plan is available besides the free plan. You can subscribe to it only for $10 per month.
It is necessary to select the right accounting software service for businesses to streamline finance management along with associated activities. As a result, you can track expenses and make more informed decisions for better sustainability in this saturated, inflated, and competitive world. By managing the transaction histories and getting insights into the potentially damaging areas, you can eliminate them to increase the profit-expenditures gap. Hence, you can survive and take down your competitors. Just understand the features of the software mentioned in this guide and pick the best one according to your requirements.