6 Best Accounting Software For Small And Medium Businesses
You care for your business, right? You would also agree with the fact that key business metrics are all finance related, and financial control is of utmost importance. If the funding of the business runs smooth there comes no issues with the client, agents, and dealers.
Gone are the days that for even sending an invoice people would need to rely on their accountants. Today, cloud-based service providers have made it so simple for us to send payable invoices, outstanding bills or recurring invoices in just one click with online accounting software.
You can monitor, send payment, and keep a backup of your accounting data from anywhere and anytime. It’s all easy if you are using the right tools or software that help saving time.
Now, there comes a bucket full of features when considering an accounting software. Also, all features are also not essential for you, as you may be a small business, mid-sized or large organizations.
However, you should always select an accounting software based on these FIVE critical parameters.
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5 Parameters To Check For An Accounting Software
1. Security
While you tend to adopt an online software, the critical part you need to consider there is the amount of security that software provider is giving you to keep your data safe while its accessible in anywhere mode.
2. Features
Another thing you must judge software on is the kind of features it comes up. Do your secondary research over google and find out what are the features that are coming with the base software against what you need to pay for it.
Many times a low base fare means fewer features and then must pay a considerable amount to have the add on features. Usually, all software companies mention their add-on feature pricing on their website.
3. Easy To Use
An accountant at your company may be more competent while using the software however if you need to just for yourself, you would require a much simpler interface.
4. Scalability
Next thing to consider is scalability, how you can adapt the software as your business grows over time or if not this software them how easy is to transfer your data from this software to new software which is more suitable to your business then.
5. After-Sales Support
One critical aspect of accounting software is the kind of after-sales support. What type of training and help is available while you have the software installed?
6 Best Accounting Software For Your Business
Now as you understand the parameters, let’s take a look at the best accounting software that you can choose according to size and type of your organization.
We thoroughly have gone through the accounting software that is available in the market and handpicked these top 6 based on recommendations, usage, and popularity. We are sure that one of these would be a perfect fit for your business and you won’t have to go elsewhere.
1. QuickBooks
QuickBooks which is now powered by Intuit is one of the most smarter accounting software packages when considering an accounting software for the business organization. Over 5.6 million people are already using the software.
The basic plan starts from $10/month for small size business and goes up to $75/month for large business organizations.
Also, you can save 50% OFF if you buy any plan for three months.
Moreover, QuickBooks offers 30 days free trial which you can opt as well before picking up a pricing plan.
Power Puff Features:
- Comes with a very powerful reporting arena which can be customized as per your needs and requirements.
- Additional shipping module which helps to provide you with full packaging options and manage your stocks.
- Provides a very secure environment for your accounting data.
- Connect your bank to cross-check financial transactions.
- Time tracking lets you track billable hours by the client and automatically add them to invoices.
- Multiple access control, share your accounts data with your accounting team for seamless collaboration.
- Schedule recurring payments to save time and pay them when due.
2. FreshBooks
FreshBooks is all-in-one small business invoicing and accounting solution. It provides an easy, fast and secure accounting environment that helps you saving time in invoicing.
It allows its owners to accept online payments for its deliverables and keep and track a whole lot of billing history to generate invoices and calculate taxes.
It is also flexible to adapt third party applications which can be integrated into it to make it more reliable and functioning.
The pricing starts at $15/month and goes up to $50/month. Custom plans are also available. Also, you can try any plan for FREE before buying it. The company also has 30-days money back policy. So in case, if you don’t like the software, you can ask for a refund.
Star Features:
- FreshBooks projects management lets you chat, assign projects due dates, share images/files, assign a rate or hour to the client you want in advance.
- Get or share profit and loss report, sales tax summary, bank reconciliation, payments collected, expense reports in just one click.
- Know at a glance your business cash flows and how profitable you are, without the headache of spreadsheets or shoeboxes of receipts.
<Try FreshBooks Accounting Software>
3. Zoho Books
Over 40 million users trust Zoho, and it’s one of the most popular accounting software available for small enterprises. It helps you to keep you on top of the cash flow of your company and allows you to make smart business decisions based on original data-based reports.
It automates the bank feeds which helps save a lot of time on manual entries and operates in several languages.
The pricing starts at $9/month and goes up to $29/month including free support, powerful apps, integrated suite, etc.
Zoho Books also offers 14-day FREE trial. Moreover, you can always schedule a demo.
Quick Features:
- Issue GST invoices, send your client online payment options, chase payments, set reminders.
- Keep track of inventory, set reorder/replenish stock.
- Manage inventory with vital information like SKU, cost, and stock on hand.
- Zoho lets you import filtered data from bank to your software by categorizing your banking transactions for easier reconciliation.
4. Sage 50Cloud Accounts
Sage 50cloud Accounts was known as Sage 50cloud. Trusted by 400,000 businesses it provides enterprise-level capabilities for medium and small business.
The software has a unique capability to sync with your Microsoft Outlook and help manage stocks and inventory with its ad. You get the power of desktop software and flexibility of a cloud-based solution.
It offers more than fifty features right in its base package. It comes with automated backups and supports accounting functions for HR, e-commerce, credit card processing, cash flow, budgets, etc.
The pricing starts at $25/month and goes up to $160/month. The Standard and Professional plans come with
30-day FREE trial. The company also offers 30-days money back guarantee for their customers.
SomeInterestingg Features:
- Allows you to manage cash flow, income, expenses, and payments (comes with all plans).
- Helps you to create professional invoices and quotes.
- You can easily connect the software to your bank account.
- Comes with apps and integrations.
5. Xero
Perfectly suitable for small businesses, Xero provides full-fledged double bookkeeping features even for a non-finance person. It has standardized most of accounting related tasks and makes it enjoyable to manage the accounts rather than a burden.
It is moderately priced at $9 per month for five invoices and bills and goes to $60 per month for its premium plan. Over 1 million users are using the software.
Some Interesting Features:
- Simple and easy to use with various institutive features.
- Tends to simplify transactions for the users and have a powerhouse to manage your stocks.
- Comes with a varied list of integrations possible with applications like Harvest, Stripe, PayPal, etc.
<Try Xero>
6. Sage Intacct
Sage Intacct (previously known as Intacct) is an accounting software comes with 100+ API integrations. It has complete core accounting modules and offers multi-currency management.
The company offers custom pricing plans as per business size. So, you need to fill out the form and contact them first to get a pricing quote.
Some Amazing Features:
- It’s fast and secure to process transactions.
- Offers 30-day free trial.
- Best-In-Class Cloud ERP Software
- Real-Time Visibility
We hope you found the list of accounting software useful and pick one for your business size. We tried to cover software that comes with a free trial or offers a demo before you buy. This would surely help you to take a firm buying decision.
Do let us know which one you pick from the list. If you are already using accounting software, feel free to let us know.
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