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20 Best Accounting Software for Small Business in 2019

Category: B2B News
What is the best accounting software for small business?

The best accounting software for small business is FreshBooks, a straightforward, intuitive and powerful accounting solution that should handle any numbers you throw at it—and at a compelling price that works with your small business setup. And now recently redesigned, the new FreshBooks sports a more modern, cleaner and user-friendly interface. From expenses to invoicing and payment handling, our experts’ top choice for small business accounting software works with you in growing your business and revenue.

A solid accounting foundation is key to growing the company. That means practicing good financial housekeeping and using the right tool now, not tomorrow. The future will bring in more complex scenarios — more customers, perhaps, a huge staff and a bigger operational budget, along with bigger headaches in balancing the sheet. As you fiddle with thoughts of growing the business, one of these should be getting the right accounting software that you can start with cheap, but grow with advanced tools.

In this article, we will present the 20 best accounting software for small business as determined by our experts. Their features, benefits and pricing will be discussed.  Many of these solutions are more similar than different, hosting standard features like general ledger management, invoicing, and payment processing. But it is the little things that can be the deal-breaker (e.g., scalability, support, reliability), so pay attention closely.

Accounting has always been an integral part of any business organization as it provides businesses with a view of their profitability or in some cases, losses. The process is likewise necessary for sound financial management, enabling businesses to keep expenditure and income records, which can be utilized in coming up with sound financial decisions.

It may be seen as a trying task but the importance of accounting can never be overstated. This necessary process has resulted in the development of accounting software, which aids accountants and bookkeepers in recording and reporting business transactions. In the olden days, these tasks were done manually with the use of bulky ledgers and journals. Thanks to accounting solutions, these processes, along with reporting tasks are now automated, eliminating the need for the consolidation of manual entries.

With accounting software, these tasks were automated and costs and human errors were remarkably reduced, making them indispensable tools for just about any type and size of business. What’s very interesting is that accounting platforms are now being used even by small businesses. These startups often need the basic functionalities that most of these platforms share.

So what should small businesses look for in such an app?

For starters, ease-of-use, feature set and security should be taken into consideration. However, what counts most is the pricing. As most of these players are on a tight budget, we recommend that they subscribe to a cloud-based solution as they provide customized processes, scalability and pricing flexibility.

Furthermore, an integrated accounting is better; it streamlines connected processes so you get the whole nine yards covered. For instance, invoice records are traditionally transmitted to accounting by sales manually, resulting in inconsistencies. With invoicing integrated into your accounting, human error is avoided while the entire billing and accounting workflow is fast-tracked. Apparently, many executives like this setup:

Source: Viewpost

These benefits, coupled with the demand for accounting automation have resulted in the growth of the global accounting software market. However, this market is forecast to further expand at a CAGR of over 6% from 2017 through 2021. The continuously rising demand for financial process modernization is seen to fuel this growth.

Another notable market trend is the increased use of mobile accounting applications, which have features such as payment acceptance, invoice distribution, receipt tracking and budget planning, to name a few. With a slew of vendors plying the “best app” out there, choosing the right accounting software can be a hassle. The list below should cut down your product research time significantly.

accounting software for small business

1. FreshBooks

First on our list of 20 best accounting software for small business is an accounting solution known for making financial management an easy undertaking. FreshBooks helps users address recurring invoices and subscription easily. It supports online payment collection via credit cards, PayPal and Google Checkout. This piece of software integrates seamlessly with known business applications, allowing for streamlined processes. As it is a complete suite, the need for additional software is eliminated, providing users with absolute control over their financial operations all from a single dashboard. 

You can easily check its features with no commitment when you sign up for FreshBooks free trial here.

FreshBooks

This award is given to the best product in our Accounting Software category. It highlights its superior quality and underlines the fact that it's a leader on the market.

FreshBooks won our Best Accouting Software Award for 2018

Our score
9.8
User satisfaction
99%

To make the app even better, the vendor saw to it that its latest version has advanced functionalities to further improve the financial management capabilities of users. Its dashboard makes for easy customization while data security is not an issue as secure backups are regularly implemented to keep user information secure at all times. Charges are bound to be accurate using the system, which likewise allows the use of Android and iOS apps to track outside work times.

FreshBooks can be purchased in a variety of pricing models starting at $15/month. 

freshbooks dashboard example

What’s unique about FreshBooks?

  1. Simpler but powerful solution. The latest version of FreshBooks is designed to be simpler but advanced features were incorporated in the platform. A sleek interface now comes with the software and collaboration among team members is now promoted, resulting in higher work quality.
  2. Mobile optimized. FreshBooks comes with mobile add-ons for devices running on Android and iOS, enabling users to access information anytime, anywhere.
  3. Online payment. The tool’s time tracking capability is designed for use in billing, enabling businesses to get paid online through a variety of payment gateways.
  4. Impeccable invoice to payment. For small businesses, FreshBooks offers invoice to payment functionalities. Users can pinpoint the exact location where a customer opened an invoice email, very useful in catching customers who say the invoice never got to them.
  5. Billing history management. The platform hosts features that allow for the tracking of both past and current invoices. Unpaid invoices can be pulled out instantly using this functionality.

2. Sage 50cloud

Sage 50cloud is an online accounting solution designed to help small and medium-sized businesses manage their financials and stay compliant with taxes and reporting requirements. It comes with all essential features expected of a best-in-class accounting platform such as taxes, inventory, budgeting, cash flow, and invoicing. In addition, you get a wide range of add-ons including credit card processing, HR/payroll, POS, e-commerce, data management and more.  With its mobile capability, you can make payments on-the-go and bill customers, and provide your accountants real-time access to accounting books.

You can easily sign up for Sage 50cloud free trial here and get to know the features firsthand at no cost and without commitment.

Sage 50cloud

An award given to products our B2B experts find especially valuable for companies

Sage 50cloud won our Expert's Choice Award for 2018

Our score
9.7
User satisfaction
100%

A distinctive attribute of the accounting platform is that it combines the robust feature set of a desktop tool with the accessibility of the cloud. This hybrid set up lets you access and store data in the cloud while doing other tasks in your local machine. You can use the software to track purchases and vendors and pay bills while its expense management features let you undertake mobile payments and bank feeds. It also allows you to connect to your bank accounts, providing for real-time recording of sales and receipts, tracking receivables, transferring funds, reconciling bank accounts, and making deposits.

Sage 50cloud offers three pricing plans starting at $44.97/month. It also has a 60-day risk-free, money-back guarantee.

sage 50cloud dashboard example

What’s unique about Sage 50cloud?

  1. Powerful & convenient hybrid solution. It gives you extreme flexibility by combining the power of desktop software and the convenience of the cloud with an array of 50 features to manage your financial business operations and requirements.
  2. Bank-level protection. You’ll have your finances safe and secure with screen-level user access and bank-level online protection to keep your critical information safe.
  3. Designed for SMBs. With its enterprise-grade features, the software is kept affordable and within reach of small and medium-sized businesses, making it the accounting solution of choice by over 7 million customers in 23 countries.
  4. Accounting made easy. You don’t have to be an accountant to organize your business and get ready for tax season with its built-in checks and balances to ensure your financials are accurate and are available anytime and anywhere for you and your accountant.
  5. Training & support. Explore the Sage University for on-demand learning topics and comprehensive instructor-led classes. You also get 24/7 access to support articles and other resources from a comprehensive knowledge base.

3. NetSuite ERP

NetSuite ERP packs general ledger and other financial tools with ecommerce, sales and marketing to grow your business. The sales tool includes a contact manager that lets you manage leads, automate communication, track your sales pipeline, generate quotes, and sync calendars with your teams for enhanced collaboration. The ecommerce component integrates order management with order processing and fulfillment. An inventory management tool takes care of your stocks, and a shipping module gives you the flexibility of features that you can add as your need expands.

Should you want to investigate the platform firsthand, you can easily do so when you can sign up for NetSuite ERP free demo here.

NetSuite ERP

This award is given to the best product in our ERP software category. It highlights its superior quality and underlines the fact that it's a leader on the market.

NetSuite ERP won our Best ERP Software of 2018

Our score
9.6
User satisfaction
99%

A powerful, elegant dashboard gives you access to KPIs. It’s all accessible via any mobile device. There’s a file manager that makes it easy to share and work on any task, a powerful reporting tool, and a tool that lets you export or import records as the case may be. The intuitive dashboard lets you see everything at a glance. It’s made easy to use by even non-experts, so you and your staff can worry about your business rather than your software.

netsuite erp dashboard example

What’s unique about NetSuite ERP?

  1. Made for your business. NetSuite ERP for small businesses is an affordable bundle of powerful solutions that you can easily scale to your needs and implement quickly. It is easy to configure and sports an interface that does away with a complex setup.
  2. A single tool to handle everything. With a strong financial core, modules for sales, marketing, and commerce with order management, as well as a host of other essential capabilities, your first order of business is not about looking for a third-party application to integrate but everything about real needs by your customers.
  3. Instantly know if your business is missing something. The application generates all crucial business indicators at your fingertips, so you don’t have to second-guess your next action.
  4. Modern and fully mobile. If you have an internet connection and a fully capable smartphone or tablet, then NetSuite goes with you wherever you are on the planet.
  5. Configure once and run. Once you have set up NetSuite ERP, all you have to do is let it run your operations rather than trying to address software issues. Cloud access eliminates the substantial cost of ownership.

4. Sage Business Cloud Accounting

Cloud-based accounting and invoicing management platform Sage Business Cloud Accounting is designed to cater to small businesses. Its core functionalities include accounting, compliance and expense management. What sets Sage Business Cloud Accounting apart from its sister app Sage 50c is that the former is an add-on service that allows for the integration of the latter to the cloud, resulting in cloud storage and accessibility for all your accounting data. This combination makes Sage Business Cloud Accounting better than ever.

You can easily sign up for Sage free trial here and get to know the features firsthand at no cost and without commitment.

The system’s graphs, dashboards, and transaction overviews offer users a vivid idea of how their business is doing anytime, anywhere. It can generate histories of purchases and sales and bank statement imports, which are very useful in managing cash flow. The app can be accessed via smartphones, giving users a real-time view of customer data and letting them record notes at any given time.

Sage Business Cloud Accounting is being offered in two pricing models, starting at $30/month. 

sage business cloud dashboard example

What’s unique about Sage Business Cloud Accounting?

  1. Accounting tool for small businesses. Sage Business Cloud Accounting is targeted at small businesses, allowing them to manage all tasks related to accounting. It helps users manage payment processes like estimates, invoicing and price quotations. It also comes at flexible pricing terms, making it ideal for businesses on a tight budget.
  2. Cloud storage and accessibility. The app’s integration with Sage 50c provides it with cloud storage capability and gives users access to all accounting data
  3. Robust features from a single dashboard. The platform makes users’ accounting information all available from its dashboard, keeping them informed on receivables and cash flows.
  4. Tax management. Sage Business Cloud Accounting also serves as a tax management tool, able to calculate taxes accurately based on transaction information. It can forecast cash flow, allowing users to estimate cash requirements.
  5. Mobile optimization. The platform comes with Android and iOS apps, which can be used in the creation of invoices, expense recording and in viewing graphs reflecting business performance. Integration with third-party apps is also possible.

5. Tipalti

Tipalti is cloud-based payment automation and management software that is known for helping businesses accurately meet deadlines. The solution helps solve problems that include non-compliance, late payments, administrative overload and complications arising from human error. Time spent on financial management is significantly decreased, solving one of the biggest problems facing accounting teams.

The vendor has an appealing free trial where you can tinker with the features at no cost. You can sign up for Tipalti free trial here.

Aside from those mentioned, the software can automate any business’ payment operations around the world, which could range from tasks like onboarding to tax compliance. It is capable of streamlining payment processing in around 190 countries. Using the product, businesses can rest assured that they are compliant with all existing tax and regulatory requirements minus too much human intervention. Customer and vendor payment experiences are likewise improved, along with service quality.

Tipalti is available on a price quote basis. Interested parties can contact the vendor to get a customized quote.

tipalti dashboard example

What’s unique about Tipalti?

  1. Automated payment. The system automates around 50% of all payment processes in 190 countries. It’s a leading solution for payment reconciliation, financial reporting, and AP. It normalizes data over a wide array of payment gateways.
  2. Payment facilitation. The software makes payment easier than one can imagine. Users can pay across 190 countries, 120 currencies and 6 payment methods. It has an advanced payment configuration, providing myriad financial controls.
  3. Tax compliance. The app collects W-9 and W-8 tax forms to be able to withhold payment for non-compliant payees. This allows for the prevention of payment to illegal parties. In addition, the software creates forms with ease while computing for the right tax.
  4. Advanced Reporting. The product has an excellent payment reporting system, generating accurate payment reconciliation reports. This is done with minimal intervention from managers.

6. Zoho Books

Zoho Books is a smart accounting solution designed to manage small businesses’ cash flow and finances. It is known for its ease-of-use, helping users make intelligent business decisions. Being a part of the Zoho product stable, the product does not only offer hassle-free accounting but excellent support, uptime, and security as well. It is capable of sending customers professional invoices and even accepting payments online.

If you want to explore its features you can sign up for free Zoho Books free trial here.

The platform is not just handy, it is also powerful, giving users absolute control over financial management. It has myriad useful features such as P and L, cash flow statements and balance sheets creation, to name a few. The dashboard is pleasant to the eyes and is able to display financial overviews and graphs. Aside from these, the solution is also capable of streamlining other back-office functions.

Zoho Books can be purchased in different pricing plans, starting at $9/organization per month. 

zoho books dashboard example

What is unique about Zoho Books?

  1. Automatic bank feeds. Zoho Books imports all credit card and bank transactions, eliminating the need for manual data entry. These data are likewise categorized in accordance with bank rules.
  2. Automatic payment notifications. Users can come up with messages for clients, reminding them to pay on time and set their frequency that is convenient for both parties.
  3. Customer engagement. The app’s collaboration functionalities engage customers by making them feel that they are part of the payment process. This is done by providing clients with access to their invoices and estimates and allowing them to directly make payments online.
  4. Invoice distribution and tracking. The system helps users in the collection of prepayments and retainers. Invoices can be pulled off for individual estimates. Offline payments can be recorded and even linked to selected invoices and projects. 
  5. Project management and tracking. Simply entering the time spent on projects into the system allows Zoho Books to record the expenses incurred on projects and invoice customers.

7. FreeAgent

FreeAgent is a feature-rich solution intended to help small businesses and freelancers. It is relied upon by more than 60,000 businesses with its ability to bring together and manage all aspects of financial operations. The software comes with an array of tools designed to let you efficiently manage all important financial tasks and processes such as payrolls, taxes, expenses, estimates and invoices, bank transactions, cash flows, time tracking, and your project’s financial performance.

It is easy to try its features at no cost and validate if this app is for you. Simply sign up for a FreeAgent free trial here.

The software allows you to create, send, and track invoices; monitor expenses by simply taking a photo of your receipt and uploading it to the system; keep time records using a built-in stopwatch; and link to bank accounts with transactions imported automatically into the platform. The dashboard gives you full visibility over your business’ income, cash flows, expenses, profitability, and receivables.

FreeAgent also provides seamless connectivity as it allows you to associate it with all of your bank accounts, or move numbers in and out with few clicks through its integration capability. In fact, it integrates with over two dozen third-party apps and services and supports more than 750 add-ons with Zapier.

Adding to its small business friendly appeal is its low-cost pricing available in one universal plan of $10/month for 6 months, then just $20/month afterward.

freeagent dashboard example

What is unique about FreeAgent?

  1. Built for small business. The software is designed for small businesses as well as contractors and freelancers, providing them with all the accounting and financial tools they need.
  2. Intuitive navigation. Known as “Overview”, the dashboard features a sleek and modern interface that displays all important data and provides quick access to your invoices, projects, estimates, and timeslips.
  3. Advanced expense management. Small businesses can take advantage of an advanced tool normally reserved for more expensive solutions. You can have all expenses categorized by currency, linked to specific projects and activities, tracked, and documented once the invoice is paid.
  4. Facilitated payments. FreeAgent has enabled payments directly into the system, letting you attach links to all internationally applied payment systems in the invoicing templates.
  5. Expense tracking. The solution gives you the capability to track your businesses’ expenses with the use of bank feeds and imported bank statements as well as attach expenses to individual projects when billing customers.

8. Xero

Xero is an accounting software largely known for having revolutionized accounting. Developed to provide the best user experience possible, the solution is easy to use, making tough accounting tasks like double bookkeeping simple even for first-time users. For those who require a bookkeeper, the vendor offers certified advisors who are more than willing to assist them. The platform has gained traction in countries like the UK, the US, Australia, and Europe. It comes with integrations with known third-party applications and accounting tools and the software’s Express Setup feature makes set up a breeze. You can maximize the product’s potential with the assistance of its help center.

Xero pricing comes in different pricing models beginning with its Starting plan, which can be purchased for $25/month. A Premium package, which can handle complex accounting tasks such as invoices, bills, quotes, and multi-currency transactions is also available.

xero dashboard example

What is unique about Xero?

  1. Easy setup. One does not need to render overtime or undergo complicated training to set up Xero. Once all needed data are uploaded into the system, the software takes care of all transactions and contacts, all from a single page.
  2. Inventory/stock management. The platform also doubles as an inventory and stock management tool, allowing it to process and run payrolls and adjust taxes for more than 20 states. It can create comprehensive possession records, which can be automatically be utilized in every transaction.
  3. Transactions made easy. The transaction forms that the system generates provide users with richer transaction experiences. For example, editing of purchase files is possible with the ready-made templates that Xero provides, resulting in more personalized documents.
  4. Robust financial reporting. Xero offers users financial reporting that effectively puts all activities’ impact in a nutshell. This can be done by filling filters for items for inclusion.

9. QuickBooks Online

QuickBooks Online is an accounting solution specifically targeted at small businesses and freelancers as it simplifies the most complex accounting processes. It has become a popular tool among accountants, bookkeepers, small business owners, and finance officers. For up to five users, all the app’s features can be accessed. However, functionalities are limited for packages with an unlimited number of users.

A notable benefit is how it automatically syncs business profiles to a single dashboard, where multiple users can view reports and corporate accounts. It is capable of generating profit and loss and trade sheets, invoices and billing, all which are accessible via mobile devices. Custom reports and feeds can likewise be created from the dashboard. Popular integrations include Quickbooks Online Payroll and Intuit GoPayment.

The app is being offered in a variety of pricing schemes, starting at $18/month. A free trial is available to those who want to try the software’s features first.

quickbooks dashboard example

What’s unique about QuickBooks Online?

  1. Accounts management. The app provides users with access to accounting information and allows for the creation, editing, sharing and duplication of the same with relevant parties.
  2. Online accessibility. Users can log in to the system wherever there is Internet access without the need for any additional software. Creation of customizable feeds and charts can also be accomplished.
  3. Security and backups. All accounting information is securely stored in the cloud. These can be accessed and exported to Excel spreadsheets.
  4. Support and upgrades. All subscription packages come with support from the time of set up. Regular updates and upgrades are also provided.

10. Zoho Invoice

For a complete, modern invoicing solution for your small business, Zoho Invoice lets you send invoices using multiple currencies and fully localized using your client’s native language. It’s packed with templates to suit any need or, failing that, you can duly customize the forms to include more information as you see fit.

If you want to investigate the features closely you can easily do so when you sign up for Zoho Invoice free trial here.

You can schedule sending invoices on any future date, or simply set it up to send one once a certain limit is reached, say USD 5,000. This handy feature of Zoho Invoice takes care of many time-killing works, letting you focus on what matters most to your business.

The application also features a robust contact management tool, with ways to segment contacts depending on their payment statuses. It allows you to ship or bill several addresses, and you may opt to use the feedback feature to get on the good side of your customers.

You can start the application absolutely for free, with the basic plan starting at USD 9 and increasing at USD 10 increments after that for the Standard and Professional packages.

zoho invoice dashboard example

What’s unique about Zoho Invoice?

  1. Own it with your brand. Zoho Invoice supports customized branding, which means you could send invoices like it’s your own tool complete with your own logo and design schemes for an impressive, professional look.
  2. Local appeal. Play it like the big boys with support for local currencies and languages to match your client background.
  3. Support for snail mail. For those customers who prefer the old ways of doing things, Zoho Invoice prints professional-looking invoices, have them inside envelopes and sends them to the post office for you.
  4. Hands-free invoicing. Configure billing thresholds, create billing profile for recurring invoices and let the application take care of charging your clients without further intervention from you.
  5. Provide client portal. Your customers would be happy to have online access to all their timesheets, estimates and invoices from a single place.

11. Online Invoices

Never mind the name but Online Invoices really is a Swiss-Army knife application with tools not just for the look and feel of modern online invoicing but also for fulfilling your accounting and tax computations, monitoring and facilitating payments, and business analytics when you want to see how your small business is progressing along. It also bundles a sales tool to help you reach those revenue targets for your business growth.

An appealing test drive of all software features is available to you when you sign up for an Online Invoices free trial here.

SaaS sales tools typically call for a companion CRM and Online Invoices features the functionality of a full-fledged CRM for your convenience. Moreover, it lets you do inventory management, allowing you to manage your suppliers as well as generate and send purchase orders, get alerts on critical level of stock and more.

The pricing of Online Invoices is hard to resist too: for absolutely free, you get a versatile, capable application that offers multiple functionalities to grow your small business. The paid subscription starts at a reasonable USD 9.95, which shouldn’t be beyond the budget of many small businesses.

online invoices dashboard example

What’s unique about Online Invoices?

  1. More than accounting or invoicing tool. It’s a CRM, sales, payment, business analytics and inventory management tool—in short, all the essential functionalities to help you expand your business and compete in the modern markets.
  2. Powerful client management system. Once you have created a client profile, you can add multiple information around it: generate unique category of clients for each of your team, organize all kinds of schedules from appointments, follow up communications, to delivery.
  3. Comprehensive sales tools. Online Invoices gives you both a robust CRM feature and a full-fledged sales platform, which minimizes your initial cost outlay for software investment.
  4. Stay on top of your teams. Online Invoices makes it easier for you to assign tasks and follow through, eliminating tedious tasks that eat at your precious time.
  5. Outstanding support. Find friendly professionals behind Online Invoices help desk to walk you through issues while using the software.

12. Zoho Expense

Zoho Expense is an accounting solution that is capable of making expense reporting and tracking far simpler. It can automate many expense management tasks while making a record of all financial transactions. With this piece of software, receipts can be converted into expenses, collated, from which reports can be generated.

You can use all the features for free for a period of time to see if the software matches your needs. Simply sign up for Zoho Expense free trial here.

The app can likewise capture expenses from credit card transactions, a very useful feature. It can be accessed at any given time and place as it runs on any device. Problems arising from spending limits and expenditures that are permissible are minimized, resulting in compliance and enforcement of companies’ spending policies. Popular integrations include Zoho Books and Zoho CRM, which allow users to utilize a single account for all tools.

Zoho Expense can be purchased at a single price model of $15/month. However, if more functionalities are required, contact the vendor for a customized quote.

zoho expense dashboard example

What is unique about Zoho Expense?

  1. Easy recordingZoho Expense can easily record all company expenses in real time, saving users valuable time. It allows for the syncing of credit card transactions, which can be accessed automatically. The smallest yet relevant detail can be included in such records.
  2. Expense reports. The solution can review and approve expense reports with the click of a mouse. Users are categorized as approvers, administrators and submitters, who play different roles in the system’s operations.
  3. Integration with other Zoho products. The system is ideal for users of Zoho’s productivity suite as it works well with Zoho CRM and Zoho Invoice.

13. Invoice Meister

Designed to make sure you get prompt payments for your products or services, Invoice Meister provides a robust cloud-based invoicing, bank reconciliation, payment tracking as well as deep analytic reports to track the overall progress of your business. The UK-based application offers its Basic Plan for a reasonable €7.50 per user per month, which shouldn’t hurt your overall budget. The IM Standard for €10 and IM Professional for €15 are just as accessible for any small business looking to avail for themselves a multifunctional financial software to help their business along.

You can try all its premium features at no cost when you sign up for Invoice Meister free trial here.

The attractive pricing of Invoice Meister is backed by an outstanding premium customer support, in case you need help from their technical software experts.

Invoice Meister handles multiple currencies, so your customers need not go through complex procedures to be able to pay you. Speaking of payment, the application provides a number of payment options for added convenience. You can easily configure the software to notify you of overdue payments and automate recurring invoices, which minimizes the risk of overdue payments.

invoice meister dashboard example

What’s unique about Invoice Meister?

  1. Easy, intuitive, fast. Designed with modern user-centric principles, Invoice Meister sports an interface that is accessible to non-experts. It’s efficient and fast, delivering results to get you on your feet in no time.
  2. Quickly see if your business is making money. With built-in analytics engine, you get instant reports on your balance sheet or profit and loss, which allows you to make key decisions about your business.
  3. Provide cloud payment and updates. Invoice Meister will automatically update your invoice status based on client payments, which the application also provides.
  4. Sync and manage expenses. Invoice Meister lets you stay on top of your expenses, automatically syncing each entry with your entire account, to make it easy to see where your money is going. Files can be attached right inside the application for easy verification.
  5. Verify with Sendbox. Invoice Meister keeps a history of your invoice transactions through its Sendbox, which should make tracking and clarifying with your clients a snap.

14. Infor ERP Distribution

Infor ERP Distribution is a fully scalable solution that works with your small business by matching your specific industry needs with its flexible financial and accounting tools, order, purchasing and inventory management, rebate claim management, and a module to manage overly complex requirements, including special pricing agreements (SPAs) packaging breaks, and more. It also gives you the option to choose from among a set of value-added services as your business requires.

Infor ERP Distribution is a forward-looking solution that anticipates your expansion needs and facilitates an easy path for it to happen by allowing managed data access to your partners, suppliers, other interested parties. With the managed access, you can set your sights on locations that match your business profile and plan your launch and expansion accordingly. The vendor also provides world-class onboarding training and onboarding sessions, as well as other sources of information and help to help with a speedy and successful implementation of the software.

infor erp dashboard example

What is unique about Infor ERP Distribution?

  1. Global footprint. As a world-class, leading name in providing software solutions, Infor ERP Distribution gives you a trusted name that is well tested in many of the parts of the world.
  2. Reduce cost of software investment. A cloud-based implementation eliminates the need to purchase expensive servers, network hardware, multiple IT personnel, as well as the office real estate to house all that people and machines.
  3. Quick implementation. With various simulation tools, tried templates and easy-to-configure application, you will see ROI shortly rather than wait extended times to see results.
  4. Tough security and solid reliability. Infor ERP executes the toughest security monitoring and enterprise-grade protocols to safeguard the integrity of your data.
  5. Your business optimized to the minute detail. Infor ERP syncs and organizes all the essential operations of your business, from your financial records, sales orders, purchasing to inventory and warehouse management, and more.

15. Sage Intacct

Sage Intacct is a cloud-based financial management platform that houses cloud computing and accounting in a single tool. The product’s apps are used by a wide array of businesses as they are preferred for AICPA business solutions. Designed to improve business performance and financial productivity, Sage Intacct is being offered by many accounting firms and resellers to their clientele.

Core product functionalities such as accounting, cash management, purchasing, subscription billing, and financial consolidation are present. Easier information entry and error minimization are possible with the platform’s general ledger. The system can cut down income losses and is able to effectively control margins and costs. Computing for currency difference is much easier using the solution as it offers multi-currency support. In addition, it can streamline compliance by automating sales tax management.

Sage Intacct is available at different pricing plans starting at $400/month.

sage intacct dashboard example

What is unique about Sage Intacct?

  1. Solid reputation. Recognized by the AICPA as a top provider of financial-related apps, Sage Intacct has been helping accounting professionals make sound decisions using key statistics and figures as a basis.
  2. Highly scalable pricing. Although the software is marketed starting at $400, the vendor offers optional features for additional fees. Aside from this, users can avail of an interactive demo and a webinar introduction.
  3. Robust accounting features. Data entry is easier and time-saving with the system’s general ledger. It likewise minimizes inaccuracies in financial reporting. The product can significantly lower losses and boost cost and margin control.
  4. Customized reporting. With its pre-made report templates, users can utilize balance sheets in analyzing performance and sales tracking. You can simplify financial reporting using your presentations’ needs as a basis.
  5. Fast payment processing. The platform offers highly secure and speedy credit card and bills processing. It can work seamlessly with online sellers’ websites by streamlining their processes.

16. Keka HR

Keka HR gives you a comprehensive human resource (HR) platform that is built with a robust payroll and expense management system, along with an agile talent acquisition and management system to help you maintain happy and productive employees. The payroll module is fully compliant with statutory requirements, easy to customize and run, with a friendly migration tool to make adoption a painless process. The application integrates all the essential process in a seamless process, from leaves and attendance processing to final settlements and loans, among others.

The expense management module is versatile and powerful, capable of easily capturing expense receipts via mobile scanners or web uploads. Expense rules limit spending, while expense approvals can be handled in batches. The program allows for per diem payment, while cost centers encourage accurate accounting. For pricing, the Foundation Plan at ₹4,999/mo for up to 100 employees is within many budgets, and you can have an additional user for just ₹30/month.

keka dashboard example

What is unique about Keka HR?

  1. Payroll simplified. Keka HR takes the hassle of complex payroll operations by putting everything in a single dashboard, eliminating the need to open multiple screens in order to complete payroll.
  2. Accounting-friendly expense management tool. Cost centers facilitate better expense handling, with solid reporting support.
  3. Covers all your talent management needs. From acquisition to training and nurturing talent, Keka HR provides the employee tool to keep your employees satisfied.
  4. Key insights. Real-time analytics gives you essential access to employee information to help your next decisions and actions.
  5. High-level data security. Keka HR uses industry-grade 256-bit encryption to safeguard your data. Private keys provide additional measures to thwart even the most sophisticated attacks.

17. ChargeOver

ChargeOver is a cloud-based application that you can use for billing customers and collecting payment from them. The software is designed with simplicity in mind, a feature that is best if your business needs do not require more powerful but also more complicated application packages. It capably handles subscription billing and other forms of recurring billing.

ChargeOver features payment tracking tools and automatically generates requisite notifications and courses of actions that you can take. You can set the application to automatically send invoices and receipts with key details, or have it charge customers. It can accept payments, with support for credit cards, PayPal or ACH.

chargeover dashboard example

What is unique about ChargeOver?

  1. Multiple billing methods. You can opt for metered billing, recurring flat rates or limited billing cycles.
  2. Never miss payments again. Set up automatic missed payment notifications or failed charges retries, with action options.
  3. Manage accounts effectively. Manage payment information, overdue invoices, reminders or plan changes accordingly.
  4. Eliminate mundane tasks. Let the software charge customers and send receipts with required details along with your invoices.
  5. Provide billing options. Allow customers to choose among split payments, custom tax rates, or one-time fees, among others.

18. Invoicely

Starting at only USD 9.99 per month for two users, Invoicely is an affordable Software-as-a-Service platform that lets you track billable tasks, mileage and expenses, generate and send invoices and accept online payments with its integrated payment gateway tools. The software packs elegant templates for estimates, bills and invoices or you can customize ones to suit your own brand.

Invoicely provides comprehensive accounting and invoicing tools in an easy-to-use interface. Allowing quick setup, it allows for a single platform to run multiple businesses at once. The accounting module is robust, with all the bookkeeping and general ledger that you expect from a top-notch software. While you can effortlessly customize invoices, the pre-loaded forms are smart and professional-looking, so you can attend to your business at once.

invoicely dashboard example

What is unique about Invoicely?

  1. Stamp it with your own brand. Virtually everything in Invoicely is customizable, which allows your brand to take center stage and impress your customers effortlessly.
  2. Works with multiple businesses. If you are operating different businesses, Invoicely makes it easy to set up for individual users and clients.
  3. Unlimited invoices. Invoicely gives you full command of your invoicing with unlimited invoices virtually free and for any level of account.
  4. Never miss out on payments again. Simply define profiles for recurring invoices and let Invoicely send payment prompts automatically.
  5. Build trust by sending regular account statements. Invoicely can generate and send records of past transactions to any customer. Transparent reference lets them view your business positively.

19. Accounting Seed

Built natively on Salesforce, Accounting Seed is a versatile accounting solution that features a host of comprehensive accounting tools designed to effectively accomplish back-office processes with ease and speed. Used by various industries such as healthcare, financial services, non-profits, and others, it integrates with a large selection of business solutions to unify all your records to ensure that all calculations remain reliable at all times. While Accounting Seed is usable out-of-the-box, it can also be configured on a deep level to meet your exact requirements.

Accounting Seed comes equipped with tools for order management, bank reconciliation, project accounting, expensive lifecycle management, revenue lifecycle management, and others. Furthermore, it comes with robust automation capabilities to eliminate manual data entry and greatly accelerate your workflows.

What is unique about Accounting Seed?

  1. Strong automation features. With Accounting Seed, you can bid farewell to countless hours wasted on manual processing. The software can automate your work concerning payroll, billing, reports, account tracking, and more.
  2. Seamless integrations. Smoothly integrate with various kinds of business applications. Furthermore, you can seamlessly integrate with Salesforce.
  3.  Out-of-the-box configurations. You can use Accounting seed right off the bat to accomplish your back-office processes.
  4. Single source of truth. By integrating with a wide number of business applications, you can benefit from having a single source of truth and ensure that all your teams are on the same page.

20. SlickAccount

SlickAccount is a cloud-hosted accounting solution serving India-based companies as well as small and mid-sized companies in 20 different countries. It provides users with GST-compliant features that range from invoice creation and inventory management to income tax reporting and bookkeeping. With this platform at your disposal, it is easier to get paid on time, make sure that your inventory is being monitored efficiently, and get accurate reports on your finances. This makes it one of the most ideal platforms for businesses that want to streamline their processes from restocking their inventory to accepting payments from clients to churning out tax reports. In addition to these functionalities, SlickAccount also comes with bank-grade security tools. This way, you can ensure that your data and your clients’ are protected from online threats.

What is unique about SlickAccount?

    1. Intuitive interface. SlickAccount takes inspiration from modern software interface design, sporting clean dashboards with elements nicely presented and easy to follow.
    2. Faster payment processing. SlickAccount is built with speedy payment in mind, utilizing a system that enables users to process payments from within the platform.
    3. Bank-grade security. Your data is protected the same that banks do with theirs. User activity is always monitored and high-level encryption is implemented across all platforms.
    4. Industry-specific features. SlickAccount provides specialized functionalities for service-based businesses, trading companies, and manufacturing firms. This way, you get tools that can cater to the unique requirements of your industry.
    5. Seamless integrations. SlickAccount can tightly integrate with some of the most popular business systems on the market, which lets you take advantage of the application’s strengths with third-party functionalities.

Optimize your product research with free trial offers

As much as this brief review of the leading 20 accounting software for your small business has given you helpful insights into these platforms, nothing beats a firsthand look and feel of the application you have in mind. As most of the solutions featured here offer a free trial period, why not grab the line and test-drive the application to see how it works in real time? You can start with our top choice and use its feature set as a benchmark. Sign up for a FreshBooks free trial here and get your research rolling.

So there you have it our top 20 accounting software for small business for 2019, but if you’re a Mac user and would like to know what options are available to you, check out this top 20 accounting software guide for Mac. Every product has its own strengths and weaknesses, but one is bound to suit your business.

By Louie Andre

B2B & SaaS market analyst and senior writer for FinancesOnline. He is most interested in project management solutions, believing all businesses are a work in progress. No stranger to small business hiccups and drama, having been involved in a few internet startups. Prior to his for-profit ventures, he has had managed corporate communications for a Kansas City-based Children International unit.

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12 Comments »
Benjamin Willis says:

Accounting is a risky word in some offices. And it makes to why: We think of financial management as a complex beast. But as the days of paper drawers and classic spreadsheets fade away, things are changing. Accounting software ranges from basic invoice creation and expense-tracking, advanced financial reporting, and inventory management. When choosing the right accounting app for your business, it's important to work backward in terms of your current processes, future goals, and budgetary constraints.

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Stuart Norfolk says:

I am restarting in the accountancy business after a 10-year break. The biggest change is the technology of course and we now have a proliferation of cloud products. I used to deal with only Sage, but now the market for app's has really opened up. Alex, what would you consider the best software at the moment for someone like me? I've heard a lot about Quickbooks, but Sage seems to have caught them up with their interface. What I'm looking for is an app which allows for accountants with clients. Multi-currency facility has to be a must, but inventory, or project capability not so much so. Any suggestions? Stuart

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Julie Culbreth says:

I'm looking for a cloud based application that can help with a service based business. Specifically a yoga studio. There are no invoices to generate because clients pay at the time of service. I need to track expenses and income. No employees to pay. All instructors are contracted labor. I like the idea of snapping a photo of a receipt and the software saving it to the correct expense category. I'd also be interested in something that could accept multiple forms of payment. PayPal, Venmo, etc. Along with credit cards. Any suggestions?

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Ferrin L Harker says:

Which of the five systems analyzed supports a manufacturing environment best?

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Rudy Ramirez says:

Frankly, I’d think twice before entrusting financial data to a free-to-use service, probably even the freemium ones you mentioned. To make my point clear, I have nothing against cloud-based technology, in fact I could not imagine doing business without my smartphone, but when it comes to financials I still vote for local hosting. No bad experience with these solutions though, the choice’s up on you!

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Alex says:

You are absolutely right to believe that sensitive information must only be entrusted to reputed and premium providers. However, the affordability of a system and the safeguarding of customer data are not mutually exclusive, as this is how all vendors turn first time users into loyal clients. Security matters are among our prioritized criteria when comparing and listing suggestions, and they played a role when picking the 5 products above. They all use bank-grade data encryption technology and comply with leading safety regulations, and will assume full responsibility on eventual safety breaches as soon as you become their client. With data being hosted in cloud, and accessible only with valid credentials, you won’t risk losing it even if something happens to your device. With locally hosted solutions, however, you will need a dedicated team to work around your security network, and to keep an eye 24/7 to prevent a crash or an intruder. Plus, most of these systems offer additional security layers to be managed on your behalf, including 2-factor authentication, role-based access, audit logs, and a historical overview on all changes being made to your data.

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In reply to Alex's comment, Amanda says:

I am using Xero for three years already, and I never encountered a security issue. I’ve logged in from several devices, and each time I got a unique code sent to my mobile phone to access the account, there is no way to get around that. From what I know, they are also backing up data on several locations, so I see no reason for you not to consider it.

Malcolm Fariz says:

We are running a local gardening service business, and weren’t exactly lucky picking up a standalone billing service. We looked mostly at tools with multiple levels of service, but we couldn’t find an SMB-friendly plan that automates accounts payable. Pay-as-you-go was not an option either, as we’re working more or less with the same clients. Which system would you suggest?

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Alex says:

It is exactly SMB-friendly accounting systems that invest the most in efficient billing & invoicing technology, as larger companies are usually looking at tools they can integrate with their bank service providers, and handle payments from their original accounts. The challenge is, as you noticed, to get a standalone and restrictions-free product, or at least one where you don’t have to pay recurring fees each time you cross a predetermined limit. Looking up the list, we’d probably begin with Wave - their billing & invoicing services may not have the bells & whistles QuickBooks does, and you may not be able to infuse that much branding material in your docs, but they’ll get the job done for free. Zoho Books is the next-to-the-best service, as it lets you bill 25 clients for as much as $9 a month. FreshBooks, QuickBooks, and Xero are slightly more expensive (pricing starts at $15) and restrict their low-tier package to a smaller number of billed clients, but they will suit you perfectly if you want to customize and categorize invoices, and to report on your billing activity. Note that all five providers on this list offer a free trial of their product, and you can test them in advance to pick the right solution for your needs.

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Ginny West says:

As a freelance accountant I’d say it is not as easy to take advantage of SMB tools as their vendors like to put it. As a matter of fact, I’ve tried several of those myself, but still had to work around them to make sense of my data, and they didn’t get much further than spreadsheets, to be honest. Does any of these systems actually fit sole accountants?

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Alex says:

You are right to assume that accounting technology designed for freelance and corporate use is rarely the same, and without knowing this, it is more than likely to end up paying for features one doesn’t need. The good news is that You, as a sole accountant, are not excluded from the best-in-breed accounting landscape! Many of the systems we’ve reviewed are just cut for freelancers, with configurable billing & invoicing, automated tax calculations, integration with all major banks, and of course - reports and metrics that comply with your needs. A large portion of them are also extremely affordable, but so that you stay on the safe side, we recommend you to look exclusively at online and cloud-hosted technology. Pick natively integrated systems instead of hiring a developer to build software connections from scratch, and pay attention to scalability so that your prospective system can handle sudden workload spikes. At this point, you shouldn’t exclude any of the products discussed in this list, but rather compare their features in detail to determine which one works the best for you. We’d probably hit off with FreshBooks or Wave, as they both offer a no-commitment freemium plan, and you can check whether they fit without investing in them.

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Sarina Mandal says:

I enjoy using Wave Accounting. I started with them and then moved to QB Online and then went back to Wave Accounting. It has improved a lot over 5 years, I highly recommend it!

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