What is accounting software?
Accounting software is an application that records and reports a business’s financial transactions. Core modules of accounting software includes accounts payable and receivable, billing, and bookkeeping. Non core modules of accounting software may include debt collection, expenses, timesheets, purchase reconciliation, payroll, and reporting for all of these. Accounting software is either cloud-based or desktop-based. The best accounting software for small businesses listed here is cloud-based.
The 11 Best Accounting Software for Small Business of 2022
- Best Overall: Intuit QuickBooks Online
- Best for Automating Accounts Payable: Plooto
- Best ERP Tools: Oracle Netsuite
- Best for Invoicing: FreshBooks
- Best for Microbusinesses: Zoho Books
- Best for Transparent Pricing: ZarMoney
- Best for Online Merchants: GoDaddy
- Best Free Accounting Software: Wave Financial
- Best for Freelancers: Sage Business Cloud Accounting
- Best for Growing Businesses: Xero
- Best for Processing Accounts Payable: Melio
- Small businesses that need basic invoicing and reporting capabilities will do fine with free or low-cost cloud-based accounting software. As your business grows, you can add more features and functionality.
- Businesses that have more complex needs have a lot of choices for accounting software. Your business’s specific needs will determine which accounting application is the best fit.
- Businesses should look for accounting software vendors that are transparent about their pricing.
- This article is for business owners who are looking for accounting and invoicing software.
When you start a business, accounting software is one of the first business applications you need to get. The best accounting software helps you create invoices, record incoming and outgoing payments, identify and follow up on past-due receivables, and run reports that help you analyze your financial health and other aspects of your business.
To help you find the best accounting software for your business, we examined more than 100 applications. We looked for affordable, easy-to-use accounting programs with time-saving features, such as automated bank feeds, automatic payment reminders, and online invoicing and payment acceptance. We also searched for software with comprehensive, customizable, real-time financial reporting, because that is crucial for monitoring and understanding your business finances.
Here are our best picks and details about our selection process. Learn more about what you should look for in accounting software by reading our accounting software cost and buyer’s guide.
Accounting Software Review Summary
|Accounting software providers considered||31|
|Minimum monthly cost||Free|
|Maximum monthly cost||$350 per month|
|Free trial available||30 day|