Accounting Software
Below is a list of some leading online accounting solutions ranked by their popularity.
Bonsai
Bonsai is an invoicing tool that does more than taking care of bills.
FreshBooks
FreshBooks is an intuitive accounting software that you can access from anywhere, with automatic upgrades.
QuickBooks
QuickBooks is an online accounting software that you can access and manage from anywhere.
and.co
And.co is a one-stop platform to manage freelance activity. The platform allows...
Account Edge
AccountEdge is a cloud-based accounting software for small business. It allows you...
Xero
Xero is an online accounting software with bank-level security and add-on marketplace.
Wave
Wave provides a quick and easy accounting software for small business, with accountant-approved and secure technology.
Manager
Manager is a free small business accounting software that is available for Windows, Mac, and Linux platforms.
Crunch
Crunch provides a simple accounting service for freelancers, contractors, startups, and small businesses, with online software that you can access anytime and anywhere.
Bullet
Bullet is an online accounting software with free online invoicing, allowing you to automate your accounting tasks.
Pulse
Pulse is an online accounting software that allows you to manage the financial aspects of your business.
REACH
Reach is an all-in-one web-based accounting software made for various types of businesses.
Reckon
Reckon provides accounting solutions for accountants, businesses, and bookkeepers. It features bill...
Soldo
It is safe to say that you are running an organization, and you need to deal with your company and employee expenses.
Expensify
Expensify is a software that helps individuals and organizations maintain a track of their expenses and related details in a simplified way.
Receipt Bank
Receipt Bank is software for small-scale and medium-scale businesses to maintain logs without wasting paper.
Zoho Books
Zoho Books provides an online accounting software for small business to keep their cash flow under control.
Yendo
Yendo provides cloud accounting software, cloud CRM software, cloud payments software, and newsletter software used by companies in 17 countries.
Certify
Certify is an expense management software that lets organizations keep track of all expenses using one application and saves the efforts of their Finance team so that they can concentrate on planning better things for the organization.
MYOB
MYOB (Abbreviation of 'Mind Your Own Business') is an Aussie online accounting software that helps to manage your finance, save time, and stay ATO compliant.
SAP Concur
SAP Concur is a software that lets organizations automate the financial factor in their workplace.
FreeAgent
FreeAgent is a web-based and mobile-friendly bookkeeping software designed for freelancers and small businesses.
Divvy
Divvy is a financial services company that provides corporate credit cards to organizations and streamlines their expense management systems.
KashFlow
KashFlow is an award-winning accounting software designed specifically for small business.
Rydoo
Rydoo is an expense management platform that helps users streamline their expense and expense reporting processes, thereby enabling them to manage their cash flows.
inFakt
InFakt.pl is a polish software product offering accounting services and business management.
Twinfield
Twinfield is an online accounting software that is easy to use and allows you to manage your finances, keep track of your expenses, and take control of your business.
Debitoor
Debitoor offers online invoicing and accounting platform for small businesses. They offer...
Holded
Holded is an online utility of products that aid in sales and purchase management, along with support for CRM, accounting, invoicing, and project management.
Outright
Outright allows you take your small business finances in one place, with simple invoicing and bookkeeping.
e-conomic
E-conomic is a popular Dutch e-commerce site that offers accounting services to over 130k companies worldwide.
Sage 50
Provides one of the best accounting solutions for businesses, with multiple users and support for multiple companies.
OnlineInvoices
OnlineInvoices is a one-stop solution that efficiently automates the financial transactions of micro, small, and medium-sized brands.
Vyapar
Vyapar is accounting software for business designed especially for small businesses for dealing with the inventory, invoice and other accounting needs.
AvidXchange
AvidXchange is an account payable management system with a distinguishing feature.
Spendesk
Spendesk combines the functionalities of prepaid cards with the expense reporting system.
Tipalti
Tipalti is an AP automation software that helps you automate the Account Payable system.
Tallie
Tallie is an online expense report solution that helps organizations to enter their expenses within seconds.
Expensya
Expensya is an expense management software platform that also has reliable reporting capabilities.
Webexpenses
Webexpenses is cloud-based expense management and tracking solution that automates your invoice processing, travel, and business expenses.
ClearBooks
ClearBooks is an online accounting software targeted for accountants and small businesses.
Shoeboxed
Shoeboxed is an Accounting and Finance software owned by Earth Class Mail, that manages the expenses of the companies and its other users.
ApprovalMax
ApprovalMax is an Accounting & Finance Software founded in 2014 who lends its support to the companies in smooth workflow and faster delivery of their services to the customers.
Jedox
Jedox is an Enterprise Performance Management software that helps the companies and start-ups in improving their sales and also enhances the customers’ services after they buy products from them.
ExpensAble
ExpensAble is an Accounting and Finance software founded by Insperity that has been managing companies’ expenses since its inception in 1986.
AccountView
AccountView is a business system that assists the clients in their everyday operations.
Akaunting
Akaunting is the perfect solution for small businesses looking to make their accounting process faster and smarter.
Papierkram
Papierkram is a software that assists the clients in managing accounts and much more.
Bind ERP
Bind ERP is a platform that assists the enterprises in the management and monitoring the different operations.
Crunch Accounting
Crunch Accounting is an online platform that helps users in managing their financial records.
Busy Accounting Software
Busy Accounting Software is an out-of-the-box accounting automation software that can significantly reduce workloads.
Pandle
If you are in search of a new age accounting solution for your business, the Pandle is the best fit for you.
QuickFile
Quick files is very user friendly and do not create any operational problems for your accountants and managers.
Saasu
Saasu is an Aussie company that helps to automate the accounting process of your business with a simple online accounting software.
Capium
Capium is a single-platform accounting software made for businesses and accountants.
Emburse
Emburse provides fully automated expense and accounts payable management solutions with its top-ranked products, namely, Certify, Captio, Abacus, Chrome River, Nexonia, and Tallie.
BrightBook
Brightbook is a simple and easy online accounting software made for professionals and companies worldwide.
MineralTree
MineralTree is a software that assists the clients in optimizing their payment methods.
Kashoo
Kashoo provides a simple cloud accounting software for individuals and small business owners worldwide.
SlickPie
Slickpie is an account management system meant for small businesses. It manages...
botkeeper
BotkeeperTM is a powerful software which provides essential tools for finance and accounting processes.
inDinero
inDinero is a software that manages the accounting process, which is a part of the finance department of an organization.
Sage Business Cloud Accounting
Sage Business Cloud Accounting is a simple online accounting software that is targeted for small business owners.
Front Accounting
FrontAccounting provides an easy accounting software designed for small companies. It features...
Sage Intacct
Sage Intacct is a leading accounting and financial management software that looks...
MediusFlow
MediousFlow is an Accounting and Finance Solution that accelerates the invoice processing, streamlines the workflows, provides financial automated controls, and reduces the manual work.
Anaplan
Anaplan is a corporate performance analysis software that uses artificial intelligence tools to measure company performance.
Working Point
WorkingPoint provides various online management solutions for small business, including accounting, invoicing, financial reporting, tax reporting, business dashboard, and more.
Express Accounts
Express Accounts is an accounting and bookkeeping software for small business, which works with Windows and Mac operating systems.
Brex
Brex is a financial services organization that offers credit cards to technology, e-commerce, and life sciences companies.
Less Accounting
LessAccounting provides a simple accounting software for small business, with easy and automatic bookkeeping.
Fixed Assets CS
To calculate and keep track of your client's fixed assets and depreciation activities, Fixed Assets CS gives you all the necessary resources.
PayChex Accounting Online
Paychex Accounting Online is a simple accounting software for small business, which allows you to work together with your accountants and business partners.
Fygaro
Fygaro is an accounting software, which helps users in performing various operations efficiently, like invoicing, inventory controls, and increases their sales.
Finly.io
Finly is a financially managed government undertaking which helps companies to automate, achieve visibility, and monitor business spending.
Merrchant
Merrchant provides world's best Free Online Accounting Software & GST Billing Software for small business in India.
HostBooks
HostBooks is an automated cloud-based platform for accounting which helps manage businesses in a very effective manner by using the latest technology and also combining them with traditional accounting solutions.
AlignBooks
AlignBooks is a software that is used for billing purposes. It contains...
Account Software Buying Guide
With the introduction of digital accounting solutions, gone are those days when keeping the accounting books used to be a paper-oriented process. The digital age has certainly made it possible even for a small business to use an affordable accounting tool for automating several accounting tasks. Right from bank reconciliation statement to balance sheets, the accounting programs can do a lot in no time for any kind of business.
Accounting software programs not only alleviates calculation errors but give you business insights that a paper document or report might not provide, such as overstocked items, sales forecasts, and highlighting the least profitable product or service. What can be more beneficial than having all financial data conciliated at one place for a business?
However, the market is filled with a variety of business accounting software that can track and manage all accounting information. However, it can be challenging to find the most suitable accounting software for your business. Nevertheless, you can simplify this task by identifying and analyzing your business needs.
You can then map these needs to the features and capabilities of promising programs for finding out the best one. Obviously, this mapping requires understanding of accounting basics as well. For meticulous but hassle-free selection, here are some features to consider.
Online vs Offline Accounting
While some accounting tools are desktop-based, many are cloud-based. The latter is in more demand for its anytime as well as anywhere accessibility for performing accounting tasks. It is better to go for a cloud-based program in case you are working with freelancers or have your business staff spread across geographical boundaries. Moreover, there is no need to download such a program and that even setting your account or business profile is quicker.
Number of Users
Most accounting apps are limited when it comes to giving access to users. A few might support only 10, while some might support 25. What you need to know here is that the price you pay rises directly with the increase in the number of users supported. However, you can also find a few applications that tend to support unlimited users at highly competitive price. The key to choose the right app from this aspect is to know beforehand how many users will have access to the cloud-based software.
Helpful Interface
If you are about to use an accounting software for the first time, it is truly nice to have a self-explanatory interface. It should be such you need not spend time in looking for options or in learning from too many videos. Further, it should not be cluttered.
Accounting Features
Several accounting apps come with several menus or modules such as Sales to create and track orders and invoices, Contacts to add and manage contact details of clients and customers, and Time Tracking for tracking the time of each employee or contractor given to a project. They also have bank reconciliation module that automatically synchronizes with your bank accounts to download data, Account Receivables and Payables to track expenses and income, and Quotes to create and track quotations.
If customization is what you need, look for an app that allows customizing its templates without any restrictions. There should be formatting options along with the utility to add your company logo. If you are looking for full automation, then ensure to have features such as automatic payment reminders, automatic invoice reminders, tracking when customers opened invoices, and adding mileage for tax returns.
Accounting Standards in Action
It
is remarkable to note that many accounting tools follow different
standards; a few supports single entry, while others implement the
double entry practices. Similarly, many might switch to and fro from
accrual to cash standards of accounting, influencing the reports
themselves. Usually, businesses prefer double-entry standards, small
businesses or startups might prefer the cash-accrual methods for fulfilling regulatory and reporting needs.
Reporting
Without reports, no tool or app can be complete! Therefore, look for a program that can give you maximum reports including cash flow statements, profit and loss statement, wages, chart of accounts, receivables, and payables. These reports are essential for tracking business, getting loans, and complying with reporting requirements of stakeholders. Small businesses would also love to have some more reports such as sales taxes payable, accounts receivable, accounts payable, and payroll deductions payable.
Automatic Entry of Data
This is the biggest selling point of any online accounting software, as the computer does all the work automatically. This simply saves a lot of time. However, note that this automation is not 100%, as you probably need to enter data at some point in time, which means data transfer through export or import might not be always error-free.
The bank statement data is the most common data that the software automatically enters either via a direct connection to the bank account and doing it on its own or prompting to download an electronic statement and uploading the same into the software. However, the best software picks up or learns certain things for simplifying the entry of information.
Integration with Other Apps
The ability to integrate with other tools is certainly a plus point of accounting software for exchanging data. A few services that you might wish to integrate include invoicing, payroll, investment tracking, inventory management, payment processing, project management and Customer Relationship Management (CRM). Good integration involves transferring data smoothly from one tool to another seamlessly as well as automatically. Such integrations also allows you to view all business information from one place for having a comprehensive look for unseen foresights.
Data Security
Having a cloud-based accounting application without security certainly makes no sense. Most online accounting apps claim to give you bank-like security such as 256-bit encryption, intrusion detection, and regular server checks. They have strict security requirements for securing data from hackers and unintentional loss. Therefore, it is wise to choose such an accounting app.
Invoicing
It is vital to see how simple it is to create, send, and customize invoices. A good software allows selecting a customer based on which the contact information is entered automatically into a novel invoice. It also allows automatically retrievable invoices and adjusting pricing or quantities.
Document Attachment
The ability to attach
an invoice to the software records allows linking any of your records to
an image or document or image, such as a JPG or PDF. Because it is
required to offer proof of every record, attaching a proof directly to
each record is handy.
Several of the accounting software
mentioned here are easier to use, and that a few of them are designed
for users having no accounting background at all. As a fact, numerous
tools are available, which can overwhelm you in selecting the best one.
Nevertheless, the features described above can help you choose the ideal
online accounting software with ease.