As a business owner, you know how important but tedious monitoring financial accounts, tracking income and expenses, and preparing for tax season might be.
Whether you are a small or medium business, freelancer, or solopreneur, using proper accounting software can significantly improve your productivity by automating numerous routine tasks. What’s more, this solution is more cost-effective than hiring an in-house accountant or a third-party firm to manage the finances.
With hundreds of accounting programs available in the market, selecting the most suitable software requires time and research. Therefore we’ve compiled a list of the top accounting software for small businesses and self-employed individuals that will help you with reporting, invoicing, optimizing cash flows, and various other tasks for efficient business management.
Xero is a trusted accounting software that makes running a business easier for over 3 million subscribers. The tool serves landlords, self-employed individuals, and startups. Apart from small businesses, it’s a perfect solution for accountants and bookkeepers.
Using Xero accounting program software allows you to have a complete financial picture of your business in one place and manage all the data in real-time. In addition to the basic functionality, the tool provides various add-ons so you can customize a plan which will work best for you.
Key features Xero offers:
Pricing:
Xero gives free access to all features for 30 days, which you can cancel anytime. In addition, you get 24/7 support. Apart from the free trial, Xero offers three paid business plans:
By utilizing NetSuit accounting cloud-based software, you can improve your business’s financial control, revolutionize your general ledger, optimize AR, automate AP, and simplify tax management.
Serving more than 20 industries, including Health and Beauty, Financial Services, Food and Beverage, Energy, Education, and others, NetSuit is known as one of the best account management software.
Key features NetSuit offers:
Pricing:
NetSuit users purchase an annual license covering the following primary components: the core platform, optional modules, and the number of users. Contact NetSuit to get a custom quote for your business.
MarginEdge is recognized as one of the best automated accounting software for restaurants. It’s a comprehensive solution for streamlining and simplifying your restaurant’s AP processes.
Key features MarginEdge offers:
Pricing:
MarginEdge offers two paid plans:
Looking for a smarter way to organize your business receipts and documents? That’s what Neat can help you with.
Over 2 million people have trusted Neat due to its 20 years of experience and enhanced security, data protection, and affordable solutions.
Key features Neat offers:
Pricing:
Neat automated accounting software offers three plans to transform the way you manage and organize your business:
Zoho Finance Suite is a unique and powerful accounting cloud-based software suite chosen by over 80 million users globally. It offers over 45 integrated apps for various sectors like Sales and Marketing, Finances, Customer Service, HR, IT management, and more.
Zoho Finance Plus provides a great range of apps for small business bookkeeping, which can manage, connect and automate your business processes.
Key features Zoho Finance Plus offers:
Pricing:
Zoho offers simple and affordable pricing and just one plan – $249 per month/per organization, with access to ten people.
Over 1 million users have taken advantage of working with Shoeboxed accounts management software. Join them and let your business save time by scanning receipts, generating expense reports, and reclaiming multiple hours every week on autopilot.
Apart from services like bookkeeping, payroll management, tax, and accounting, Shoeboxed also provides software training.
Being professional bookkeepers and accountants with high qualifications, the Shoebox team is ready to take your accounting skills to the next level.
Key features Shoebox offers:
Pricing:
Shoeboxed offers three plans which you can purchase monthly and annually:
Pay annually and save up to 20%.
Wave is one of the top free small business accounting software which enables you to organize your finances in the simplest yet efficient way. With a focus on the North American market, the program has helped over 2 million small business owners take control of their finances.
Wave gives you access to a user-friendly dashboard so you can form a complete picture of your business results and manage an in-house team of bookkeeping, accounting, and payroll coaches.
Key features Wave offers:
Pricing:
Wave offers two free plans and three paid plans based on the company’s revenues and requirements:
QuickBooks is definitely one of the best account management software for small and medium-sized businesses. The tool allows you to track and handle all your financial operations – from bank transactions to expenses and more.
QuickBooks is available in both desktop and online versions and offers a range of affordable pricing plans to meet different business needs. Try this user-friendly, customizable software to manage your finances more effectively.
Key features QuickBooks offers:
Pricing:
QuickBooks provides you with the opportunity to take a test drive and see this powerful accounting program software in action for free. Apart from the test drive, you can go with one of these paid plans:
Sage deserves the title of the best startup accounting software. Its user-friendly interface is clear and simple, even for those who have no experience in accounting.
You can integrate Sage with other applications, such as CRM systems, payment gateways, and eCommerce platforms, to enhance your business operations and improve efficiency.
Key features Sage offers:
Pricing:
Sage offers two plans which include all the essentials and can be canceled or upgraded at any time:
OneUp is cloud software for accountants designed to automate your accounting entries, saving time and money.
The program boasts an impressive automation rate of 95%, making it the quickest accounting app available. OneUp is able to reduce the average monthly cost of managing a client from $30 down to $6.90.
Key features OneUp offers:
Pricing:
You can start with a 30-day free trial to test OneUp’s best accounting software capabilities.
Then, you’ll have to choose among the following paid plans:
Choosing the right accounting software is crucial for SMBs, freelancers, and solopreneurs looking to streamline their financial management while ensuring accuracy and compliance. Among the myriad options available today, TaxLeopard stands out as the ideal solution tailored to meet the unique needs of small businesses and independent professionals. It offers a comprehensive, user-friendly platform that simplifies complex financial tasks, allowing you to focus more on growing your business and less on managing numbers. Its tailored features accommodate the nuances of managing small business finances, making it an indispensable tool for success.
Key Features:
Pricing:
TaxLeopard offers three distinct pricing packages, each designed to suit different needs and budgets:
1. Personal Package
Price: Free
It includes (Submit Tax Returns, Submit ABN/GST)
2. Essential Package
Price: $11.99/month or $110/year (equivalent to $9.16/month)
This package includes all features of the Personal Package, plus (Link Bank Accounts, Upload Your Receipts, Logbook, Invoicing & Quoting, Profit & Loss Report, Detailed Transaction Report, Submit BAS)
3. Pro Package
Price: $24.99/month or $249/year (equivalent to $20.75/month)
It includes all features of the Essential Package, plus (GST Report, Ask-Accountant Email Support)
Each package is designed to offer flexibility and value, ensuring that you can choose the one that best fits your financial management needs.
The accounting software market comes with various notable options, each with unique features, terms, and special offers. Choosing the right accounting program for your solo business, startup, or small company might be really challenging.
Luckily, with this guide on the top accounting cloud-based software, you can make an informed decision based on your specific business needs and the scope of financial tasks.
If you want to add your accounting software to this list, drop us a line with the product’s details. After a quick review, we’ll decide whether it’s a valuable addition.