The 9 Best Small Business Accounting Software of 2023


best bookkeeping software for small business

Users give Zoho Books a 4.4 out of five-star rating on Capterra and 618 reviews. Users say the features are intuitive to use, though the system as a whole comes with a slight learning curve. They like that it has all the features they need to handle small business accounting and invoicing and that it integrates with other Zoho tools. Some say they have experienced delays in product functioning, specifically when working with large data sets.

Useful features to run your business

Finally, ease of setup and ease of use is about what we expect for a desktop program, but much harder than cloud-based software. With the discontinuance of QuickBooks Pro and Premier for new users after July 31, 2024, Sage is the only remaining major accounting software provider with desktop software targeting small businesses. While QuickBooks Enterprise remains available as a desktop solution, its starting price is nearly triple that of Sage 50—making it unaffordable for many small businesses.

Best Accounting Software for Small Business

best bookkeeping software for small business

On the other hand, accounting goes more in-depth on that data, segmenting transactions on financial statements to adjust for timing and gain greater financial insight. Ready to see the difference between FreshBooks and the others for yourself? Learn more about FreshBooks and its accounting and bookkeeping features, or start your 30-day free trial today. We evaluated plan options to determine which companies provide the most features for the best price.

Clarity with custom accounting reports

Your business idea might have some weaknesses that you hadn’t considered or there may be some opportunities to improve on a competitor’s product. Utilize existing sources of information, such as census data, to gather information when you do secondary research. The current data may be studied, compiled and analyzed in various ways that are appropriate for your needs but it may not be as detailed as primary research.

best bookkeeping software for small business

Simple Start

best bookkeeping software for small business

At year-end, accountants can pull the necessary reports from Wave to prepare a business’s tax return. QuickBooks Online is one of the most popular bookkeeping software choices in the US. Its comprehensive reports are easy for first-time business owners to generate and understand, and it offers more thorough reporting than just about any other software out there. If you’re nervous about setting up accounting software for the first time, Kashoo’s experts can talk you through it. So while Kashoo isn’t as comprehensive as competitors like QuickBooks, Xero, and FreshBooks, its customer service reputation is a definite point in its favor. Consider what you need the accounting software to accomplish for you and your business, and seek out software that will help you accomplish these tasks with ease.

Best for Integrations: Zoho Books

FreshBooks accounting software is built to make sure small businesses like you are getting paid every penny you have earned for your hard work. Creating a customized invoice is easy – just add your logo and personalize your “thank you” email. FreshBooks makes it easy for you to track your time and expense to add to invoices, so you’ll never leave money on the table again. They also won’t have much of the time-saving automation functionality that most accounting software has.

  1. Starting a business is one of the most exciting and rewarding experiences you can have.
  2. Kashoo shines when it comes to multi-currency support, an important feature for today’s global economy.
  3. The answer to this question will depend on the type of business you want to start and where you’re located.
  4. Investopedia launched in 1999, and has been helping readers find the best accounting software for small business since 2020.
  5. Even though Wave has a useful payroll tool, its accounting software isn’t necessarily right for businesses with dozens of employees.

But since Wave Accounting has just one plan, it’s not necessarily ideal for growing businesses that might need a heftier accounting tool in the future. Today’s leading accounting platforms offer standard security features such as data encryption, secure credential tokenization accounting cycle definition and more. While human error will always play some role in security breaches, you can be confident in your accounting platform when it comes to keeping your information safe. Once I finished answering the setup questions, I was given access to the platform.

While there is no free tier, we like the number of features that QuickBooks has, even on the lowest plan. This includes mileage tracking, receipt capture, free guided setup, and the ability to connect a sales channel. We also appreciate the direct contact available for support via the online support portal. Zoho does offer a forever-free plan as long as revenue falls under the threshold of $50,000 for the fiscal year. Xero’s three plans range from $15 a month to $78 per month with the first four months at 50 percent off during Zero’s current deal. The Growing plan is the platform’s most popular and is recommended for growing businesses while the Established plan is recommended for established businesses.

Add accounting widgets to your phone’s home screen; track time using your Apple Watch. 250+ small-business products reviewed and rated by our team of experts. Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. Karrin Sehmbi is a lead content management specialist on the small-business team.

The best way to get a loan for a new business is to approach banks or other financial institutions and provide them with a business plan and your financial history. You can also look into government-backed loans, such as those offered by the SBA. Startups may also be able to get loans from alternative lenders, including online platforms such as Kiva. To scale your business, you need to grow your customer base and revenue.

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