In modern business, accounting software is essential for companies of small sizes. From managing finances and expenses to tracking income and ensuring tax compliance, accounting software is indispensable.
As businesses strive for efficiency, they are increasingly turning to software that automates receivable and payable accounts and manages payrolls. Encouragingly, the industry will report a substantial growth of approximately $ 20,408 million by 2026, signaling a promising future for the accounting software industry.
With new software appearing every day, selecting the right one for your requirements can be daunting. To assist, we have compiled a list of the top 10 best accounting software.
Top 10 Accounting Software
01. Zoho Books
01. Zoho Books
- Number one on our list of top 10 accounting software is Zoho Books. It is a straightforward and versatile accounting software for small-sized businesses.
- With its user-friendly interface, it simplifies financial reporting, invoicing, and expense tracking. Business people can create professional invoices and reconcile bank transitions.
- Their interaction with Slack, GSuite, Office365, and multiple payment service providers, including mobile apps and Add-on APIs, has made them famous in the software industry.
- This advanced accounting software immediately imports bank statements and efficiently manages different projects. As known to be supportive of compliance standards like GST and GDPR, it offers stack tracking along with varied payment options.
- As integrated with Zapier and Slack, it offers multi-currency support and end-to-end accounting. One crucial feature of Zoho Books is that if any software problem arises, they immediately respond with chat, call, and email. Also, it is accessible on Windows, iOS, and Android.
🎯 Features Of Zoho Books-
- Generates the report and automatically calculates GST.
- Enables you to record expenses and track bills.
- With automatic alerts, you can follow payment.
- Easy integration with numerous online payment gateways.
- Choose the price from Zoho’s provided list.
- Windows, Android, and iOS are supported.
- Customer support is available via Gmail, call, and chat.
- Standard – $15 Per Month
- Professional – $ 40 Per Month
- Premium – $ 60 Per Month
- Elite – $ 120 Per Month
- Ultimate – $ 240 Per Month
Free Trial: 14 Days Free Trial
02. Xero
- Another best accounting software for small and medium-sized businesses, popular for accounting and bookkeeping activities.
- Along with user-friendly management tools, it is accessible from any corner of the world with an internet connection. Developed as a SaaS platform, it works online and is available for computers and smartphone users.
- As integrated with more than 600 third-party software, users can easily import bank transitions into software and update financial data and cash flow in real-time.
- With its list of multiple features, it is efficient in paperless bill management, diverse tracking options, automated bank feed, payroll assistance, project tracking, free updates, and interactive credit control. Xero’s user-friendly interface makes it a top choice for small businesses.
🎯 Features of Xero
- Easily send online invoices with online payment options.
- Manage and record receipts and expenses.
- Xero can track bank cash flow.
- Connects accounting software to the bank.
- Get an employee’s payroll information.
- It offers financial reports to monitor the amounts.
- It offers customer support via Email.
- Supports – Windows, Mac, Android and iOS
- Starter – $14.50 per month
- Standard – $23 per month
- Premium – $31 per month
Free Trial: 30 Days Free Trial
03. NetSuite
- An ERP-based accounting software that goes beyond traditional accounting. It is a powerful tool that brings accounting, customer management, and e-commerce together in one platform.
- By giving real-time data access and customizable dashboards, it boosts collaboration for decision-making and self-service portals.
- NetSuite is well-known for outperforming conventional accounting solutions and indulging business processes with sales and service. Also, it gives real-time access to live financial data. As this comprehensive accounting software strictly adheres to SOC and ISO 27001 standards, it offers diverse payment methods and stock tracking.
- The software specializes in billing management and cloud accounting with robust customer support. Because of its real-time analytics, customization capabilities, automation, and structure, it enables business people to streamline operations and manage finances.
🎯 Features of NetSuite-
- With billing management capabilities, it integrates with finance and sales.
- It helps you to streamline the financial planning process.
- Provides support via chat, call, and Gmail.
- Supports Windows, Linux, and Mac OS.
- NetSuite offers a revenue recognition management solution.
- Handle users as per their roles using the dashboard.
- Audit trail and Automated scheduling
💸 Pricing of NetSuite
Please connect to the vendor for pricing.
04. FreshBooks
- A USA-based accounting software, FreshBooks helps you run small businesses efficiently, fast, and securely. As it is cloud-based accounting software, it handles basic accounting needs such as income and expense management, automated invoicing and billing, and downloading, generating, and emailing statements.
- It also provides a clear overview of revenue and total profit on the dashboard. As it is a user-friendly platform, it simplifies navigation through expenses, payments, and other functions.
- Perfect for small business owners, it helps in easy invoice creation and accepts payment via different payment gateways.
- FreshBooks is mobile-friendly accounting software supported by PCI and GDPR standards. It is integrated with Hubspot and Zapier and offers time tracking and robust reporting. The software also supports multi-currency and invoicing.
🎯 Features of FreshBooks
- Easily collaborate on projects.
- In a few clicks, FreshBooks helps you generate invoices.
- Hassle-free use of log-free hours and putting them on the invoice automatically.
- Offers customer support via phone, chat, and Email.
- Supports- Windows, Android, and iOS
- It helps you organize expenses effortlessly.
- Online invoicing and time tracking.
- Payroll reporting and project accounting.
- Lite – $ 9.50 per month
- Plus – $16.50 per month
- Premium – $ 30 per month
05. QuickBooks
- An automated accounting software, QuickBooks enables you to handle bookkeeping, sales tax, and invoicing. Use this software to track expenses and bills. As per the business requirements, it tailors its features. One of the most beneficial features is the quick download of banking transitions due to connection with multiple banks and credit card companies.
- Mainly, the software has three centers, that is, customer, vendor, and inventory center, which assist in managing inventory and interaction with customers and suppliers.
- With QuickBooks, you can easily handle the team, transaction management, and inventory tracking. As integrated with platforms like Shopify and PayPal, it offers multiple functionalities, such as various payment options and report customization. Along with compatibility with Windows, Android, and iOS platforms, it offers customer support via phone.
🎯 Feature of QuickBooks
- This accounting software supports online banking integration.
- It assists in creating professional invoices and sales receipts.
- Hassle-free management of cash flow according to vendors’ due.
- Easy accessibility of account anytime and anywhere.
- Supports- Windows, Android, and iOS
- Easy inventory management and sync bank statements
- Email management and exemption management
- Simple Start – 9$ per month
- Essentials – $ 18 per month
- Plus – $27 per month
- Advanced – $ 60 per month
Free trial – Free trial for 30 days.
06. Bill.com
- Bill.com is a leading automated accounting software for streamlining the accounting requirements of organizations. By providing significant advantages, it simplifies business payment processes.
- With the latest features like e-invoicing and and direct deposits, it accelerates payments. Another feature that uplifts their utility is unlimited data storage with accurate transitions.
- It offers flexible payment options by permitting businesses to select between ACH payment and credit cards.
- It streamlines invoicing and offers multiple approval levels for bills and sorting options. Secure third-party banking transitions; it provides a comprehensive payment history overview.
- Lastly, Bill.com ensures security, payment flexibility, and efficient financial management. The platform is an ideal choice for businesses seeking to optimize approval workflows, automate payment processes, and manage financial operations hassle-free.
🎯 Features of Bill.com
- Seamless integration with various financial and accounting systems.
- Enhancing connectivity with a cohesive financial ecosystem.
- Reduces delays in payment processing.
- Improves the efficiency of financial transactions.
- Enhanced control over payments and transitions.
- Status tracking and tax calculation.
- Centralized system for financial transactions.
Please connect to the vendor for pricing.
07. SAP
- An ERP-based software design to facilitate business operation management. From small businesses to large enterprises, it is available to everyone.
- With intricate accounting features, organizations can enhance efficiency and speed. Data storage assists in real-time and accurate insights and simplifies operations by replacing inconsistent systems.
- Its streaming allows for better decision-making, making it an essential tool for optimizing business processes. Best suited for small and large businesses that require ERP-based solutions for end-to-end business operation management.
- For organizations seeking integration, stability, and real-time analytics, SAP is an excellent investment.
🎯 Features of SAP
- Budget management and campaign management.
- Demand forecasting and distribution management.
- A holistic solution for managing different aspects of business operations.
- From finance and supply chain to human resources, SAP handles everything effectively.
- Highly scalable and long-term solution.
- It offers robust real-time analytics capabilities.
- It helps businesses to make data-driven decisions efficiently and quickly.
Please connect to the vendor for pricing.
08. Sage
- A robust accounting software and business management tool, Sage serves as a comprehensive business tool regardless of industry type. Along with Stripe and PayPal, it supports multiple payment gateways. As integrated with Zapier, it offers multi-currency support and cash flow tracking.
- Apart from ordinary account keeping, it provides integrated features to manage invoices, receipts, and payment processing along with payroll. With features like payment tracking and seamless integration with third-party apps and Sage payroll, it assists in efficient operations.
- Also, Sage enhances functionality and stability and helps in VAT compliance and automatic updates. As designed for businesses seeking management and accounting solutions, it caters to different industries along with customization.
🎯 Features of Sage
- Easy integration and affordable monthly costs.
- Supports – Windows and Mac
- It offers specialized modules tailored to different industry types.
- Easy customization as per the business processes and workflows.
- In-depth reporting capabilities.
- Comprehensive financial reports for better decision-making.
- Affordable monthly costs.
- Cloud-based and easy integration.
Price: Plans start at $34.30 a month
Free trial – Free trial for 30 days.
09. Wave
- As a free accounting software, it is perfect for small and mid-sized businesses. With a single login, this accounting software assists in working on multiple businesses.
- Along with invoice handling, it tracks transitions, expenses, and investments. Also, it allows you to connect with numerous bank connections.
- This versatile accounting software helps in income and expense tracking. Along with multiple payment options, it provides banking, accounting, and advisory services. As seamlessly integrated with PayPal, Stripe, and HubSpot, it provides payment reminders, payroll, cash flow tracking, and invoicing. Also, Wave is now available in more than 200 countries.
🎯 Features of Wave
- It enables you to send and create unlimited professional invoices.
- Its innovative dashboard offers entire information and business management.
- It offers customer support via Email.
- Supports- Windows
- For small businesses, it helps in income and expense tracking.
- Appointment scheduling and campaign management.
- Communication management and feedback management.
- Hassle-free Invoice management and user-friendly interface.
- Easy to manage personal and business uses.
- Starter plan- $0
- Pro Plan – $ 16 per month
10. Clear Books
- This award-winning online accounting software is the most straightforward tool for accountants and businesses. As a cloud-based platform, Clear Books is famous for its multi-currency accounting tax submissions. Although it lacks an autosave feature, still, it’s a preferable choice for businesses because of its partnership with accountants.
- As it is easy to use for clients and accountants, transaction management is hassle-free.
🎯 Features of Clear Books
- Budgeting/forecasting and cash flow management.
- Performance metrics and project accounting.
- Payroll and account management.
- Purchase order management and receipt management.
- Email management and financial management.
- It has a user-friendly and intuitive interface.
- Easy to manage account transactions.
- Small – £6.75 per month
- Medium – £14.50 per month
- Large – £18.00 per month
The Bottom Line
Accounting tasks are always daunting and difficult to deal with. From settling expenses to tracking incomes, a lot of work comes under the accountant’s role. Traditional accounting methods were very difficult to operate, but with the arrival of the latest technologies, it takes no time.
Nowadays, selecting the right software is relatively easy. Depending on your business requirements and work environment, there is various software to choose from. This list provides complete details in every software, making it easy for you to decide.
