Welp MagazineAccounting software is a great starting point for smaller businesses which do not have the manpower or time to develop their own accounting system.
The numerous options on the market need to offer a few things that we considered when making this list. The price competitiveness balanced with being able to keep up with a growing business, is essential. So, the solutions we’ve included don’t waste your time and keep up with the ever-changing demands of a growing business.
Best Accounting Software For Small Business
Xero
Suja Johnkutty from BetterRelaxation:
The best accounting software is Xero because it integrates with most banks and it is so simple to use. Accounting is totally out of my wheelhouse but Xero is so user-friendly .
LedgerLite
Logan Abbott from SourceForge:
LedgerLite is a lightweight and easy-to-use accounting suite that is extremely affordable, secure, and simpler to use than other accounting systems. No database configuration or complicated installation is required, and LedgerLite can also be used without an internet connection. LedgerLite lets you create as many accounts and cashbooks as you need, and you can’t find another accounting suite anywhere close to to the feature set LedgerLite offers for the price. LedgerLite offers every feature a small business needs, and is really easy to learn.
Quickbooks
James Canzanella from Isolated Marketing Nights:
Quickbooks is one of the easiest (and most professional) ways to track your sales and expenses online. My only regret is that I didn’t get it earlier as it would have saved me more time, effort, and of course money.
Receipt Bank
Katie Swanson from Wilson Toellner CPA:
Receipt Bank revolutionizes the collection of expense documents, providing you with the technology to send any receipt or invoice to QuickBooks Online as soon as you receive them. Simply snap a picture using a mobile device and the rest is automated. Receipt Bank makes employee reimbursement effortless by collating expenses into easy-to-handle expense reports that can be approved and then sent to QuickBooks Online. Receipt Bank can also be your document management system for receipts and invoices. No more looking through files to locate a receipt or invoice, they are all at your fingertips in Receipt Bank.
Stampli.com
Stampli is a Mountain View, Calif.-based company that provides accounts payable automation software. Its SaaS-based solution leverages cloud computing, artificial intelligence, and more to help small, mid-sized, and enterprise-level firms process invoices more efficiently and at lower cost.
Bill.com
Katie Swanson from Wilson Toellner CPA:
Bill.com eliminates the back and forth of a bill payment process and simplifies the process from start to finish. Bills can be imported directly from Receipt Bank or emailed directly to your Bill.com inbox – eliminating the need to open mail. Their new intelligent virtual assistant reads the information on bills and pre-populates the necessary fields. All you have to do is review the information and make necessary changes. Data entry is eliminated. Choose a due date when the bill is entered and you will be reminded when bills are due. No more file index folders by date to sift through when bills come due. Review and approve invoices to be paid at any time, from any connected device. Choose to pay vendors electronically through ACH, by check, or through vendor direct payment and with the click of the pay button, Bill.com sends payment. No more writing and signing checks unless it’s absolutely necessary.
T-Sheets
Katie Swanson from Wilson Toellner CPA:
T-Sheets allows clocking in and out, reviewing, editing, and approving of hours from any Android and iPhone device.. This information syncs automatically with QuickBooks Online making payroll hour transfers seamless. Coordinate teams with precision using GPS location tracking, which allows you to see who’s working and where. T-Sheets creates comprehensive employee schedules and allows for updates from anywhere in real time.
Waveapps
Kevin Rodrigues from Gardening Mentor:
I have used Waveapps for several years because the free version has been sufficient for my needs. I set up a bank account for my business and linked it to Waveapps. All the business transactions are then automatically updated in the application. I can then get all the reports such as balance sheets, expenses, profit/loss from the application. This is great to have an overview of how the business is performing. One of the best features of Waveapps is that I can upload my receipts and bills. It automatically scans them and fills them up as part of my expenses. This saves me a ton of time when I need to get the reports for my business.
SlickPie
Luka Arezina from Data Prot:
When you’re a small business owner, you spend way too much time doing stuff you’re not primarily an expert in. The fact is, there’s no one else to do those things, and you can’t afford additional staff for those tasks (yet). Accounting is one of those things that can get pretty messy if you don’t have a solid knowledge or a reliable tool. My number one feature I was looking for in an accounting software was that it was easy to use. The second one was that it was online-based so that I could access it from anywhere. SlickPie fulfills both of these requirements. It has preset themes for invoices, online billing, and document management as its main features. Besides being easy to set up, it provides options for automated billing, making you work even less to get paid. And the best part is – it’s free!
A2X Accounting
Elliot Blackler from Evopure:
Anyone that sells on Amazon will know how much of a nightmare it can be when it comes to Amazon Settlement accounting. A2X automatically fetches your latest Amazon settlement transactions, crunches the data and generates a summary of the revenue, expenses and other transactions. You can configure A2X to summarize sales by SKU, by product type, to group all sales together or to group by country. This has helped us to understand in detail the profitability of each SKU and integrates with our XERO account seamlessly.
Zoho Books
Ashley Meyers from KDG:
Zoho Books is rich with features that any small business would need for their online accounting, including receivables, payables, bank feeds, and invoice integration. However, where the product stands out compared to products like QuickBooks is in its flexibility. Zoho Books can integrate with hundreds of applications and includes features like inventory, sales orders, retainer invoices, time tracking, workflow automations, and payment reminders. It also includes a client portal that your customers use to view invoices, see past transactions, make payments, and ask questions.
Divvy
Rochelle Burnside from Best Company:
Most of our reviewers love Divvy because it’s simple and free. Through its platform, you can track your spending and see a spending forecast, manage your payments and subscriptions, and manage your budget with real-time reports. Divvy offers physical and virtual credit cards for your business and has a robust app. Divvy can also integrate with QuickBooks online, a favorite of many company finance departments. Overall, it’s hard to beat a free platform, particularly one with such a clean user interface and friendly customer service.
