Top 15 Cloud Bookkeeping Software for 2024

Poor bookkeeping is a bane for businesses, as well their bookkeepers and accountants. This results in hundreds of hours wasted checking and rechecking accounts. You would have to review everything manually, and perhaps spend a lot of money on bookkeeping services to make sure that everything is in order, especially if you are number crunching for tax time.

Such is a huge waste of time, effort, and money. What you can do instead is to record everything as they happen. It may sound taxing but with the help of a great cloud bookkeeping software, the process will be a breeze.

We listed below the top 15 examples of cloud-based bookkeeping solutions. Each one is powerful and has unique features that you can find useful to your bookkeeping process.

As the world becomes more and more digital, it makes sense that accounting and bookkeeping are also hopping on the train. The use of tech in the industry has been common for many years now but it is becoming more so. Indeed, the trend points toward greater technology adoption in accounting. This is true not only for company departments but for individual accountants as well.

This comes as no surprise since 90% of accountants are feeling a cultural shift in accounting. According to an accounting trends report for 2022, there will be more technological disruptions in bookkeeping and accounting. To name a few, automation, AI, and cloud-based solutions will keep forging forward.

Other sources are also pointing toward an increase in virtual accounting. Much like many industries, the accounting sector had to bring everything into the cloud when the COVID-19 pandemic hit. This represents expanded reliance on accounting software, especially cloud-based ones.

Below are only a few of the cloud bookkeeping software in the cloud that bookkeepers and accountants can rely on. Even small businesses and sole proprietors can appreciate these, as they are user-friendly and have a host of finance management tools that are easy to understand.

Top 15 Cloud Bookkeeping Software

1. FreshBooks

Cloud bookkeeping software FreshBooks is one that is made purposefully for business owners. Regardless of the type of business you have, you can count on this solution to provide you with advanced yet easy-to-use tools and features. With this, you can save more than 100 hours per month on number crunching.

For starters, FreshBooks enables you to organize expenses quickly. All you need to do is upload pictures of receipts and the software’s OCR engine will automatically capture the data. This includes not only the total but the merchant and taxes, as well.

This cloud-based platform also helps you receive payments rapidly. Such is possible with its credit card processing feature. By providing this payment option to clients, you can stop chasing them for cash or check payments.

FreshBooks

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Key Features of FreshBooks

1. Organized expenses. With FreshBooks, you can keep track of every expense without breaking a sweat. You simply have to upload pictures of receipts and the software will read the merchant name, transaction total, and tax.
2. Rapid invoicing. No need to set up a word processor template for your invoices. FreshBooks helps you create professional-looking invoices in a matter of minutes. Within that invoice, clients can even pay you directly in a secure portal.
3. Credit card processing. Enjoy faster payments with FreshBooks. The solution enables you to accept client payments via credit card so you can get your money quickly.
4. Project management and time tracking. Generate accurate invoices for projects you work on with the time tracking feature of FreshBooks. You can also use its project management module to ensure that all collaborators are on the same page.
5. Comprehensible reports. Simple reports are what you can expect from FreshBooks. You are going to appreciate the straightforward reporting that can help you make intelligent decisions.

2. NetSuite ERP

Cloud-based business management platform NetSuite ERP packs a punch when it comes to its financial management module. Through it, you can handle many bookkeeping tasks without needing a separate accounting or bookkeeping solution. You can look forward to more efficient record-keeping with this.

NetSuite ERP can automatically update your general ledger. It also does not need intervention when tracking accounts receivable and accounts payable. Because of this, you can focus on other matters, such as sending invoices to clients, which would not take too much time, either.

Moreover, at every month’s end, you can close books and accounts simply. The platform can generate reports regarding your finances in a flash. These can assist you in ensuring that all your finances are in order. The same goes for complying with regulations. Compare NetSuite ERP with other top accounting software to see how it matches up.

NetSuite ERP

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Key Features of NetSuite ERP

1. Automated financial tasks. Bookkeeping can be a back-breaking affair and, thus, very time-consuming. NetSuite ERP has an automation capability that ensures redundant tasks are completed without human intervention. That way, your bookkeepers and accountants can focus on other things.
2. Set accounting standards. The platform comes set up with accounting standards that you can follow easily. Because of this, you can have faster financial closure while maintaining compliance.
3. Accurate reporting. You can rely on the reports provided by NetSuite ERP. They are always accurate and enable you to get even the tiniest details.
4. Real-time metrics. Keeping an eye on your financial health at all times is easier with NetSuite ERP. It has role-based dashboards that display relevant information to each user so that they are always apprised of the financial goings-on.
5. Core accounting suite. NetSuite ERP has a core accounting suite that you can use in tandem with its financial management module. With the two working together, you can gain better control over your finances.

3. QuickBooks Online

Small business bookkeeping solution QuickBooks Online is a robust software that provides all the necessary tools for small enterprises to manage their finances rigorously. It also boasts an automation functionality that helps you cut down the time you spend on bookkeeping tasks. For example, it can handle importing transactions from your bank accounts, credit cards, and even payment gateway solutions such as PayPal and Square.

On top of that, QuickBooks does your calculations for you. That is a huge time-saver and spares you from the headache that can come from trying to balance books or match accounts. This automation capability is also applicable to tax time processes.

You can also take your bookkeeping with your wherever you go. QuickBooks Online adapts to your phone or your tablet so you can manage financial transactions on the go.

Key Features of QuickBooks Online

1. Automatically imported transactions. QuickBooks Online helps you save time by automatically importing transactions. You only have to connect your bank accounts, credit cards, and payment gateway accounts you might use for business dealings.
2. Online bookkeeping. You can work anywhere with QuickBooks Online. The solution can adapt to any screen so you can work comfortably and productively even on your smartphone or tablet.
3. Double-entry bookkeeping. Tax time becomes less of a headache since QuickBooks Online conducts double-entry bookkeeping, too. It does so according to financial standards so every cent is accounted for.
4. Accessible reports. Generate financial reports with ease using this online bookkeeping software.
5. Data-driven insights. QuickBooks Online helps you figure out where your profits are coming from and make sense of your spending habits. On top of that, it can assist you in finding ways to cut or save costs.

4. Sage Business Cloud Accounting

Comprehensive cloud accounting software Sage Business Cloud Accounting features are what small businesses and freelancers alike can appreciate. You can take control of your business venture easily and even improve your finances. The platform is easy to set up and use, as well as maintain, so you can get started without drawbacks.

Using this software, you can focus on other tasks at hand. This is because it has an automation function that lets workflows run smoothly without human intervention. This is helpful when you are posting expenses and payments to the system.

Additionally, Sage Business Cloud Accounting can synchronize with your bank account feed. This means you can track your bank-connected expenses automatically. With this, you can have better insights into your spending.

Key Features of Sage Business Cloud Accounting

1. Ease of use. Sage’s cloud accounting solution boasts ease of use. It is a cloud-native software so you can get around it quickly. You can surely use it without problems on any device as well.
2. Automated workflows. This cloud bookkeeping platform takes care of admin tasks for you.
3. Automated invoice tracking. The software can help you to maintain a healthy cash flow since it assists you in tracking invoices. It will let you know how much you are owed and by whom so you can get paid faster.
4. Expense management. A major part of bookkeeping is keeping track of expenses. Sage Business Cloud Accounting can save you time in this regard by automating your expense tracking.
5. Cash flow updates. You can be sure to have a healthier cash flow to maintain good financial health with this solution. It offers a dashboard where you can keep an eye on the movement of your money.

5. Tipalti Approve

Cloud-based spend management solution Tipalti Approve is a modern platform for keeping an eye on your finances. It is specially designed for enterprise-grade financial control, in that it helps root out fraudulent activities. The solution is also built to ensure that audits go smoothly.

But how do all those relate to bookkeeping? Tipalti Approve has a payment reconciliation system that provides real-time payment data. It offers transaction-level details as well. With this, you can ensure that every dollar spent is recorded.

There is also a PO matching functionality. Two-way and three-way matching options are available. Having this component can aid your business in eliminating overspending. Plus, it gives you fine-grain control that helps in preventing fraud.

Key Features of Tipalti Approve

1. Payment reconciliation. You get real-time payment data when you use Tipalti Approve. Reports you get also provide you with the tiniest transaction-level details.
2. PO matching. The software assists you in PO matching, whether it is 2-way or 3-way. With this, you can guide buyers and suppliers to comply with your PO policy.
3. Procurement management. A lot of things in the procurement process can go under the radar. By implementing Tipalti Approve, you can have full visibility over the procurement workflow. Thus, you can be sure that purchase requests and actual purchases are in line with company rules.
4. Financial controls. Tipalti Approve’s data access controls are configurable. This gives you full control over who has access to the company’s money. There are also permissions available that you can use to manage disbursements and approval flows.
5. Proactive fraud detection. Tipalti Approve is armed with Tipalti Detect. It is a payee monitoring system that lets you identify fraudsters or detect potential fraud.

6. AvidXchange

Efficient accounts payable automation software AvidXchange offers better control in your accounts payable workflow. AvidXchange features include tools for invoice management, bills payment, purchase order management, and utility bills management. The best thing about it is that they are automated.

When it comes to logging in invoices, you can make use of the OCR technology of the platform. You can rely on it to put down accurate records. This assures you of reduced errors and provides you with more time to spend on other tasks.

For the purchase order management module, you can look forward to tools that stop unapproved purchases. They can prevent coding errors as well and ensure that purchases are made on time.

Key Features of AvidXchange

1. Paperless invoice processing. You can maintain your workflow when it comes to receiving, tracking, and approving invoices when you implement AvidXchange. The only difference is that you are going paperless.
2. OCR technology. AvidXchange is armed with OCR technology that helps you digitize paper invoices. Or you can use it to automatically enter invoices into the platform. It saves you time from data entry as well as from errors.
3. Two-way purchase order matching. You can use the invoice automation solution together with the purchase order module. Doing so helps you do the two-way matching. But three-way matching is possible, too!
4. Bills payment. The platform has a wide supplier network that allows you to pay your suppliers much quicker.
5. Utility bill management. You can keep tabs on your energy consumption using AvidXchange. This will let you become more efficient in your energy use so you can save money in that regard, too.

7. Rossum

Rossum is your all-in-one document gateway. It automates document management for your business from start to finish. The solution gathers all your documents in one centralized location and processes those.

Once it handles the documents, it filters them. In case there are duplicates, the software merges them. Rossum’s cognitive data capture also gets to work in extracting data accurately. And that is regardless of the document format and the information’s layout.

These features, among others, allow you to stay in control of your bookkeeping. You can keep track of your invoices this way and be confident that every piece of data is correct. As well, it applies to receipts of your expenses. Find out what is included in the Rossum quote-based plan to learn more about the software.

Key Features of Rossum

1. Centralized document inbox. When Rossum gathers your documents, it places them in a centralized inbox for processing.
2. Cognitive data capture. Rossum has an intelligent data capture technology that reads data from documents. This is regardless of the format or the document layout. Additionally, it does not only extract data but also validates and corrects it.
3.  Document classification. The solution uses its AI engine to classify documents. It also has a machine learning mechanism that continuously adjusts as it learns from user amendments.
4. Notifications. Rossum sends notifications to senders about the status of their documents or inquiries. This helps decrease emails, calls, and SMS messages regarding transactions.
5. Integration. The dynamic system integrates with a broad range of software for document management automation.

8. A2X

Ecommerce software A2X gives you accounting tools for your online business. It simplifies bookkeeping, thus giving you confidence in your finances with the accuracy it provides. On top of that, the solution provides relief from taxing data entry and admin tasks with automation.

You only have to connect your ecommerce platform with A2X. The software supports Amazon, Shopify, and Walmart. It also works with eBay and Etsy. If you have a presence in two or more of these, you can go for a multi-platform version of the solution.

A2X also integrates with your favorite accounting software such as Xero, Sage, and QuickBooks. This will save you more hours since the platform forwards your bookkeeping entries to your accounting solution. All expenses, as well as income, are reconciled, too.

Key Features of A2X

1. Ecommerce integration. A2X connects with your preferred online marketplaces like eBay, Amazon, and Shopify.
2. Multi-platform integration. Is your online business on different ecommerce websites? A2X helps you manage finances for those in one go with a multi-platform integration capability.
3. Accounting interface. The software integrates with accounting software like Sage, Xero, and QuickBooks.
4. Accounting sync. There is no need to do double data entry with A2X. It seamlessly transfers data from your ecommerce platform to your accounting software.
5. Organized books. The solution takes care of organizing your books. The process does not even take hours. Rather, all it takes is a few clicks.

9. Trolley

Trolley, formerly known as Payment Rails, is a payouts automation platform. It can make the payment workflow more streamlined. Thus, you can keep your contractors, suppliers, and vendors happy to do business with you.

This solution helps you get your partners on board a white label portal. Through this, you can collect payee information. Trolley assists you in verifying the data to ensure that when the time for payments comes around, everything will go smoothly.

You do not have to worry about bookkeeping and accounting with this software, too. It can integrate with your accounting solution to automatically relay data. But if you prefer, you can also import CSV data.

Key Features of Trolley

1. Automated payments. You can sweep aside your worries of payments deadlines with Trolley. The platform takes care of payouts and does so automatically.
2. Global payout network. Trolley connects you with vendors all over the world. It reduces the complexities of dealing with international banking.
3. White label vendor portal. To facilitate the ease of payouts, Trolley helps you get your suppliers and contractors on board. This is done through a white label portal, where you can gather their bank and tax information. The solution also helps you verify the information they provide to prevent payout problems.
4. Accounting software integration. Take the hassle out of bookkeeping by connecting Trolley with your preferred accounting platform. Doing so means Trolley would automatically relay transactional data to save you from data entry.
5.  Approval process. Of course, you still have control over the payout process despite Trolley automating it. The software will only follow your set approval and workflow settings.

10. DocuPhase

DocuPhase is a workflow and accounting automation solution. It digitizes your business processes, including your document management, vendor payments, customer payment processing, and file-sharing procedures.

Among the tasks that DocuPhase can assist you in automating are accounts payable and accounts receivable management. You can set up the rules-based routing for your AP and take advantage of three-way matching. With the latter, you can be certain that every spend is recorded. In the case of accounts receivables, the solution offers a payment portal where customers can securely make their payments. These can help streamline your bookkeeping since they reduce data entry and the possibility of errors.

The software also aids in maintaining the accuracy of information entered into the system. It does that with its advanced OCR technology. This is especially helpful when you are handling invoices with several line items. DocuPhase’s OCR feature also connects with the document management system. Because of this, your team can access newly captured data immediately.

Key Features of DocuPhase

1. Document management. DocuPhase digitally stores your documents in a centralized repository securely. This makes important data accessible to your team members.
2. Accounts payable automation. The platform has a rules-based routing for approval when it comes APs. It also has an automatic three-way matching function to make certain that every dollar spent is accounted for.
3. Workflow automation. Sharing files is a smoother process with DocuPhase. You only have to drag-and-drop rules in the workflow configuration to set up file sharing.
4. Customer payment portal. Clients can pay you securely through a portal provided by DocuPhase. With convenient bill payments, you can accelerate cash flow and build stronger relationships with patrons.
5. Payment automation. As well, you can maintain good working relationships with vendors through payment automation.

11. Zoho Books

Online bookkeeping software Zoho Books is a smart platform designed for small businesses. You can take advantage of its cloud-native nature to do your bookkeeping tasks smoothly in the cloud. With it, you can organize all business transactions and ensure that every account is updated.

To enable a streamlined bookkeeping process, Zoho Books offers an invoicing module, among others. This component can assist you in creating and sending invoices on time and help you get paid on time, too.

Additionally, Zoho Books comes with an auto-scan feature that converts documents into invoices or bills. You do not have to lift a finger in the process, too, unless you need to make minor corrections. There is a transaction approval workflow as well. This provides you with the flexibility you need to review and edit transactions before they push through.

Zoho Books

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Key Features of Zoho Books

1. Invoicing module. Proper invoicing helps reduce the pain of bookkeeping. Zoho Books aids you in creating accurate invoices that get you paid on time, too.
2.  Journal-keeping. Zoho Books assists you in maintaining proper journals that you can share with an external bookkeeper.
3. Expense management. Keep an eye on those expenses with Zoho Books. The cloud-based software lists all your spending and empowers you to find ways to save money.
4. Banking feeds. With Zoho Books, there is no need to manually transfer or enter data between your accounting software and banks. It can connect with your bank accounts to get real-time updates. In this way, you can record transactions as they happen and make certain there are no anomalous expenditures going on.
5. Auto-scan feature. Reducing data entry is one of the tenets of Zoho Books. The bookkeeping solution scans documents and converts them into bills, invoices, purchase orders, or expenses.

12. Zoho Expense

If you want to have finer control over your expenses, then Zoho Expense features may be what you are looking for. This is especially great for growing businesses that want to have real-time visibility into spending. On top of that, the application enables you to manage travels and related expenses, too.

Regarding the latter, Zoho Expense lets you make travel and hotel bookings directly from its interface. It integrates with a travel service to enable this. But if you prefer to use other services, you can still do so. What you can do is have employees create trip requests with complete information. Then, the travel team can make the arrangements once the requests have been approved.

In terms of expense management, Zoho Expense empowers employees to add receipts to the platform. They only have to take pictures of the receipts and upload them. There is an auto-scan feature, too, that helps save time from data entry. In this way, your company can keep track of employee expenses, especially during their travels, and make sure that they are in line with expense policies. This makes it one of the most viable alternatives to top expense management software.

Zoho Expense

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Key Features of Zoho Expense

1. Expense management. Zoho Expense lets employees upload pictures of their receipts into the system. It keeps the digital copies for reconciliation and for reimbursement purposes.
2. Travel requests. The solution offers a one-stop-shop for travel arrangements. Its travel management module lets employees make travel requests. From there, the travel team can arrange the trips and even provide options for traveling employees.
3. Purchase requests. Zoho Expense has a comprehensive purchasing module. With it, you can be assured that purchases are in line with company policies.
4. Corporate card management. If you have corporate credit cards, you can rest easy when it comes to reconciliation. Zoho Expense takes care of that automatically and you can simply review the report to ensure there are no discrepancies.
5. Reimbursements. In case employees have to pay out-of-pocket, you can reimburse them quickly using Zoho Expense. Since the solution keeps a record of expenses from receipts, your reimbursement team can process those rapidly.

13. Melio

Accounts payable software Melio is a web-based solution that enables you to pay bills online conveniently and on time. You can select between bank transfer, debit or credit card payment, and check deposits. When you choose to pay via bank transfer, you can do it for free. If you prefer paying with your credit card, you can earn rewards.

Melio seamlessly synchronizes with QuickBooks to help you with your bookkeeping. Through this integration, you can record your bill payments as soon as they happen. This synchronization is two-way, too. This means that you can see your accounts payable data even when you are on Melio.

Moreover, you can control how payment approval happens. You can invite other users to the platform and configure their roles and permissions. In this way, you can collaborate with your team while ensuring security.

Key Features of Melio

1. Online payments. Pay your vendors, contractors, or suppliers online securely. You can choose between bank transfer, check deposit, or paying via credit card. You can opt for the latter even if your vendor does not accept cards.
2. Bill splitting. You can improve your cash flow by splitting bills into multiple payments.
3. 2-way QuickBooks sync. Melio synchronizes with your QuickBooks account to send payment information to the accounting platform. On the other hand, QuickBooks relays bill details to Melio so you can pay those immediately and on time.
4. Rewards. When you use your credit card for payments, you can earn rewards.
5. Payment approval workflows. Invite users to the solution and configure their roles and permissions. You can delegate tasks while keeping a tight hand on security.

14. Xero

Popular accounting software Xero offers robust bookkeeping capabilities. It has a full suite of features that lets you pay bills and record them, claim expenses, and accept payments. You can also use the platform to keep your finances up-to-date, as it can help reconcile bank transactions.

With Xero, you can stay on top of your bills. It stores them in one place so you can access them anytime from any device. Tracking them from a centralized location also offers you a better view of your accounts payable and cash flow.

As well, the solution helps you capture expenses. Xero gives employees the ability to add receipts to the system, which your finance team can process immediately. It also makes reimbursements go smoother and faster. Apart from that, you can worry less about missing entries in your bookkeeping process since you can access the receipts anytime.

Key Features of Xero

1. Bills payment. Tracking and paying bills is something you can do easily with Xero. The software has a module where you can store those in one place. Thus, you can stay on top of deadlines and schedule payments ahead.
2. Expense record. Employees can submit expenses through Xero. They only have to take photos of receipts to put them on record.
3. Bank reconciliation. No more pouring countless hours matching transactions in your accounting software and those in your bank account. Xero helps you do it in a few hours, even minutes, with its automatic bank feeds.
4. Online payment processing. You can immediately record payments made by customers in Xero. It can integrate with Stripe and similar platforms to provide clients with secure payment options. Since they are connected, payments made are automatically recorded in Xero.
5. Data capture. Xero is capable of capturing data from documents like bills and receipts. It stores these online so you can access them from anywhere.

15. Sage 50cloud

Comprehensive cloud accounting solution Sage 50cloud is a hybrid solution. It is a desktop accounting software that offers the flexibility of the cloud for data storage. Because of this, business owners can enjoy the best of both worlds.

You can work more efficiently with Sage 50cloud, as it offers clarity regarding your finances. It does that through a cash flow and invoicing module that lets you watch incoming and outgoing money. From the same tab, you can check your accounts receivables, late payments, and expenses.

The software even eliminates manual data entry by connecting to your bank accounts. This simplifies bookkeeping further since you only have to record payments once.

Key Features of Sage 50cloud

1. Cash flow tracker. Sage 50cloud is equipped with a dashboard where you can watch the movements of your business’s money.
2. Bank feed connection. This eliminates the need for manual data entry since you can check payments directly on the platform.
3. Payroll management. Payroll is simplified with Sage 50cloud. The software automatically updates tax calculations so that you can release pay on time while remaining compliant.
4. Inventory management. Your company’s inventory can affect your financial health if it is not managed well. Sage 50cloud gives you the tools to efficiently oversee it so that your warehouse is well stocked.
5. Reporting. Generate reports on sales taxes, expenses, and profits in one click.

Turn Bookkeeping From a Chore Into a Cruise

While bookkeeping will not exactly be a leisurely holiday, you can at least make it go smoother with a cloud bookkeeping solution. The software solutions listed above are designed to simplify the bookkeeping process. They have a wide array of features and tools to do this.

FreshBooks is especially a vigorous software for your bookkeeping needs. It is known for its client invoicing feature that is connected to a time tracking component. This makes invoices more accurate and ensures that accounts are correct, too. Another thing is its expense organization. FreshBooks automates this part so you can get your books or journals in order quickly.

If you are not decided which software to sign up for yet, you can take a cue from accountants. Find out what accountants value most in an accounting software. Also, you can sign up for free trials and demos so you can see the solutions and try them before shelling out money.

By Jenny Chang

Jenny Chang is a senior writer specializing in SaaS and B2B software solutions. Her decision to focus on these two industries was spurred by their explosive growth in the last decade, much of it she attributes to the emergence of disruptive technologies and the quick adoption by businesses that were quick to recognize their values to their organizations. She has covered all the major developments in SaaS and B2B software solutions, from the introduction of massive ERPs to small business platforms to help startups on their way to success.