When you are starting a small business, it might really not be worth it to hire a full-time accountant. Instead, you need to know the best accounting software that meets your requirements, keeps your finances up-to-date, automates the processes as well as doesn’t burn a hole in your pocket.
You might have come across many accounting software offering various features with different pricing plans, thus leaving you confused as to which plan is best for your business. Worry no more, as this list narrows down the top 13 small business accounting software thus helping you manage your bills, keeping track of your payables and receivables and helping you send invoices just with a click and much more.
Check out the options and find the accounting software that is a right match for your small business and will help you boost your revenue:
- Intuit QuickBooks Online
- Xero
- FreshBooks
- Wave
- Sage 50cloud
- Zoho Books
- OneUp
- Kashoo
- Zip books
- NetSuite ERP
- Plooto
- SlickPie
- ZarMoney
13 Best Small Business Accounting Softwares in 2021
#1 Intuit QuickBooks Online
Intuit Quickbooks Online is an accounting software built for small businesses that allow you to organize all the accounting data of your business at one place. You can send invoices, track sales, automate payrolls, track time and much more. You can boost the productivity and efficiency of your team by integrating Quickbooks with project management software like TeamWave. The TeamWave Quickbooks integration not only helps you to get a 360-degree view of your customers but also helps your business to avoid data duplication and manual typing errors.
Few of the features of Intuit Quickbooks Online are:
- Access your account anytime, anywhere on your computer, mobile or tablet and stay organized.
- Using its powerful invoice tracking and sales order management, you can create custom and professional invoices, sales receipts and estimates and can send them in minutes
- Using its banking integration feature, your statements and transactions will automatically update and you can have a real-time view of your cash receivables and payables
- Integration with 650+ popular business apps
Price: Starts at US$ 12.50/month
#2 Xero
Xero is one of the best online accounting software for micro-businesses owners. This flexible tool allows you to keep your financials up-to-date as you can track inventory, send custom invoices and create and track purchase orders – from the phone as well as tablet. Seamless integration with bank account helps you to categorize the bank transactions as well. You can further integrate Xero with Project Management Tools like TeamWave to further enhance your team efficiency.
Few of the features of Xero are:
- Keep track of expenses, unpaid bills, and purchase orders at the same place.
- Schedule payments in advance
- Organize bills in folders
- Replicate bills and then edit details as necessary.
Price: Starts at US$ 5.50/month
#3 Freshbooks
Freshbooks is the best small business invoicing software. It is affordably priced compared to other accounting software. It is simple to use the tool and has many features such as sending invoices, automate payroll and expenses and time tracking. They integrate with other business apps as well. Their mobile app further helps you to keep track of the business anytime, anywhere.
Few of the features of Freshbooks are:
- Create customized invoices by adding your brand elements such as logo and fonts. And you can even try a general ledger template which serves as a master sheet for your books. It lists all of your transactions from the start of your business to the present.
- FreshBooks’ app, available in iOS and Android devices, includes almost all of the features found on the browser version of its software.
- Using the app, you can photograph receipts, log them as expenses, categorize them and link to transactions imported from the bank account.
Price: Starts at US$ 4.50/month
#4 Wave
If you just have a few employees, Wave could be the right fit for your organization. It has a free plan which includes many basic accounting features like unlimited income and expense tracking, unlimited invoices and seamless integration with their accounting software. But, if your business is in the lookout for advanced features like built-in time tracking and inventory tracking then this is not the right tool for you.
Few of the features of Wave are:
- Features are available online as well as on the mobile app
- It includes multi-currency support, unlimited invoicing, expense tracking, and double-entry accounting
- Wave allows you to juggle between multiple businesses with the same account
Price: Starts with a FREE Plan (for basic features)
#5 Sage 50Cloud
Sage 50Cloud works well for small and medium-sized businesses. Using this, you can send invoices, track expenses and payments and also integrate seamlessly with your bank account. If you are in the lookout for time tracking as well as collaboration tools then Sage is not the right choice. Sage 50Cloud Payroll for payroll management is a separate product. Few other challenges are that the site is frustratingly hard to navigate. Also their, pricing is a bit confusing and much costlier compared to other accounting software in the list.
Few of the features of Sage 50Cloud are:
- Can customize the settings to get a more granular view of your finances.
- Manage payments and link to your bank feed for full visibility of your accounts and finances by automatic bank reconciliation.
- Keep track of the inventory and purchase orders with a few clicks.
Price: Starts at US$ 56.08/month/user
#6 Zoho Books
Zoho Books is online accounting software which automates business workflows, manages your finances,, and helps the teams work collectively across departments. It allows you to create customized invoices, professional quotes, track expenses and handle the customer transactions at one place. This is simple and easy-to-use software.
Few of the features of Zoho Books are:
- End to End accounting solution for error-free invoicing
- Allows integration with more than 40 apps
- Enables auto-detection of transactions and consignments that require e-way bills.
Price: Starts at US$ 9/month
#7 OneUp
OneUp is a double-entry accounting solution and is suited for businesses that are focussed on inventory management and pricing. Seamless invoicing, synchronization with a bank account and automatically adjusting inventory levels are few cool features of this software. Combined with the software’s CRM features, OneUp is a perfect choice for businesses that handle sales teams and at the same time collaborate on finances.
Few of the features of OneUp are:
- Create Invoices from Quotes
- Syncs and categorizes bank entries
- Create inventory-tracked products within OneUp inventory with ease
Price: Starts at US$ 9/month
#8 Kashoo
Kashoo is a good choice for small businesses that are looking for simple accounting software. It offers categorization using machine learning technology, automatic reconciliation and expense tracking and these are available for unlimited users. It quickly learns your finances and predicts your spending habits thus helping you to manage your finances more effectively. But as the software is simple, it does not support advanced features thus making it a bad choice for growing businesses.
Few of the features of Kashoo are:
- Every transaction that happens in your business is automatically categorized and sorted
- Smart Inbox recognizes and keeps track of the vendors you normally do business with
- Smart invoice matching pairs any incoming transactions automatically with the right invoice.
Price: US$ 19.95/month
#9 ZipBooks
ZipBooks is accounting software that tracks time and expenses, sends invoices and integrates with your bank. One of the best things is their colour-coded UX. Although their free plan does not have many advanced features, unlike some paid plans, it allows you to send unlimited invoices and accept unlimited payments. If you prefer to use your accounting tools on the go, then ZipBooks is a bad choice as their mobile app is very poor and unreliable.
Few of the features of ZipBooks are:
- Schedule recurring invoices with auto-bill
- Connect multiple bank accounts
- Keep your vendors’ contact information up-to-date and view expense histories
Price: Starts at US$ 15/month
#10 NetSuite ERP
NetSuite gives a complete real-time view of their financial transactions starting from the consolidated level to every individual transaction. It seamlessly integrates with all NetSuite inventory, order management, CRM as well as eCommerce functions to streamline critical business processes. If your business is in the lookout for rapid growth, then this software is a great choice.
Few of the features of NetSuite are:
- real-time financial visibility and business insights
- billing management capabilities that integrate your sales, finance and fulfilment teams
Price: As per requirement
#11 Plooto
Plooto is a payment processing system that provides faster AP/AR cycle times, reduced errors and lower costs per transaction. Its Smart Approval ensures that every bill is accurately paid without delay. Also, unlimited users, customers and vendors can be added. Free two-way integration with Quickbooks and Xero and free live support from Plooto are added advantages.
Few of the features of Plooto are:
- Custom rules to automate, route, and customize payment approvals to the right team member at the right time.
- Schedule your payments to better manage your cash flow
- Automatically import invoices and save time with Pre-Authorized Debit (PAD) and recurring payment features.
Price: US$ 25/month per Business
#12 SlickPie
SlickPie is a simple expense management software. This software provides basic expense management for start-ups as well as small businesses. Online invoicing and billing, live bank feeds, automated data entry, and financial reports are few of their important features. This is also an easy-to-use software.
Few of the features of SlickPie are:
- automated receipt data entry (Magic Bot) tool that enables businesses to streamline accounting
- Send invoices to your customers in any desired currency
- Get live bank feeds from your account directly thus optimizing your accounting organization
Price: Starts with a FREE Plan (for 10 companies)
#13 ZarMoney
ZarMoney is a cloud-based comprehensive accounting solution for businesses of all sizes. It offers various features such as inventory management, billing and invoicing, automated accounting controls, a customizable dashboard, advanced user permissions and report creation. The customizable dashboard allows stress-free accounts management, and the inbuilt messaging feature keeps the entire team within easy reach.
Few of the features of ZarMoney are:
- Data-driven financial report.
- Automatic tax calculation.
- Status updates for customers.
- Accurate quotes and estimates.
- Multichannel payment options.
- Effective bill management
Price: Starts at US$ 15/month/user
Now time to choose the best accounting software for your business that looks after your business growing needs.