Top 10 Accounting Software Tools for Small Businesses

NetSuite is a, ‘Comprehensive accounting system to balance your general ledger, manage accounts receivable, accounts payable, reconcile bank statements, and more.’ Plus the higher tier product offers fun extras such as, ‘Workflow automation and Excel sync.

FreshBooks, with accounting, invoicing and estimating tools for service-based small businesses, was designed to scale with a small business and reduce effort and expense when dealing with an accountant.

Xero

Xero is designed for ease of use, such that even a green accountant can figure out how to record a transaction or issue an invoice. In-app hints help green accountants get up to speed. An integral bank feed, coupled with an online tool that automatically syncs it with the accounting software, can significantly progress the timeline and simplify the reconciliation process. Likewise, the tool’s invoicing and billing mechanism enables faster accounting functions compared with manual collection, and cuts down on data-entry errors. Xero’s user-friendly online and mobile applications allow more team members to access and share financial data across the business, while its lowest cost plan allocates unlimited users – unheard of among its competitors.

Intacct

SAGE INTACCT is cloud-based accounting software engineered for businesses that need robust yet flexible back office financial processes. Financial data is accurate and easily accessible across all devices. Sage lets you report on dimensions such as location, client, project, or employee, or customise your dashboards. Through multientity management, you can view financial information for more than one entity at the same time. A good solution that offers both accounting simplification and increased visibility: two things that a company would want if it wants to expand.

QuickBooks

QuickBooks is probably the most popular small business accounting software solution, with simple bookkeeping tools, and featuring integrations with thousands of apps for expenses management, cash flow forecasting and cash management, and much more, if owners prefer not to engage an accountant or bookkeeper for the bookkeeping. Other recent additions include AI and automation technology that uses pattern-based categorisation to better auto-categorise expenses and identify transaction patterns that indicate the potential for payments fraud. It also allows users to create consolidated reports made up of data from more than one QuickBooks Online company file.

Netsuite

Netsuite is a cloud-hosted business management suite, providing tools for financial accounting, supply chain, manufacturing, customer relations management and ecommerce; as well as human resources. This company offers OneWorld which is a multi-national and multi-subsidiary (“enterprise”) software package that provides global support to organisations relating to their data, operations and customers globally (‘entity’). It supports multiple currencies, multiple languages, and tax law worldwide, and provides consolidation reporting across subsidiaries. NetSuite PSA (Professional Services Automation) offers project billing, time and expense tracking, and revenue recognition standards support to services companies, or services divisions of product companies.

Sage

The accounting software from Sage automates bookkeeping to track business expenses, reconcile transactions, manage inventory and process payroll, and performs such tasks at scale for multiple business sectors. With its inventory management, you automatically avoid overstocking or understocking. And with its product profitability analysis, you can predict accurately your product performance based on real-time data. Finally, Sage 300 is a best solution, it can help your company with planning the resources, also it can streamline the everyday business operations, into single information system. Available by standard, advanced or premium packages which can be customised by the customer’s business requirements, it becomes a complete plan for the Resources Planning and Integration into single information source.

Adminsoft Accounts

Your files are under his control Here’s another of the many entirely free accounting packages (free to install and free to run, if even occasionally backed by a phone call or a download from the site): Adminsoft Accounts. It has a full suite of functions, accessible from its Windows-based interface, including VAT returns, self-assessment tax returns and payroll duties — assuming you pay someone to do them. This software has been designed in United Kingdom by small entrepreneurs delivering all round capability and functionality in one package with features like full double entry accounting, stock control,purchase order processing and budgeting capabilities available.It has 2 levels of functionality that can be chosen according to user capability or needs.

Sage 50 Premium

bill your organisation’s clients easily and quickly with sage 50 premium accounting management software, while utilizing the tools at your disposal to create invoices with speed, and manage inventory – track payments and expenses – apply job costing to analyse the profitability of your jobs – create spreadsheets using inbuilt template forms – and more.

Put more simply, for as little as $499 Sage 50cloud (formerly Peachtree by Sage) provides the core accounting basics to manage the day-to-day and more substantial analytical tools to uncover valuable insight from your numbers.

Kashoo

Kashoo is less expensive than any of our Editors’ Choice services, and still a good bet for very small companies wanting to streamline their accounting. Features include bank feeds, project expense tracking and the ability to work with Sure Payroll. Besides these handy features, mobile receipt scanning, multiple user accounts and an invoices-and-payments dashboard make InvoicePal a breeze to use, while full housekeeping tools (for example, recurring transactions and credit card remittance) appear on each invoice.