One of the basic criteria businesses everywhere are searching for in any accounting software is something that’s both affordable and easy to use. We assembled a list of software that will save time with features such as automated entries, invoicing, reconciliation and others. In addition to this, we looked at software which takes advanced tasks and makes them simple to use. For example, syncing built-in financial reports with point of sale systems. Here are our top picks along with an explanation about why we chose them.
Overall Best Accounting Software for Small Businesses: Intuit Quickbooks Online
Freelancers, online merchants, consultants-it doesn’t matter! Intuit Quickbooks Online offers a wide array of solutions for your business. It’s very easy to get started and add new data. It has time saving features such as e-mail invoices, recurring invoices and bill payments and much more. You can also have peace of mind that this software is “accountant approved” meaning that if you do decide to hire accountants in the future, they will have no problem accessing the data since most accounting firms use Quickbooks themselves.
Best Free Accounting Software for Small Businesses: Wave Accounting
Accounting software is expensive and costs can add up quickly. Wave Accounting is a free cloud-based accounting software designed specifically for small businesses. It is packed with timesaving features such as automatic data syncing, meaning there’s no need to manually input transactions. If you’re in a rush or just want to see how your business is doing without going through all of the numbers and reports, Wave offers a quick snapshot on the dashboard of all the critical information you need to see.
Keep in mind that since this is a free service it does not come with customer support or payroll services.
Best Accounting Software for Mac: Xero
If you are a Mac user and you’re tired of a Mac version that is stripped down and less intuitive than the PC version, Xero is the best solution for you. It is a cloud-based software that’s available on both Mac and PC and it doesn’t compromise any features on either platform. First of all, it’s very affordable. The starter plan costs only $9 a month and comes with an unlimited number of users. There are no surprise fees, hidden fees, setup fees and no contracts. Xero also offers free 24/7 one-on-one customer support. The only drawback would be that not too many accountants use it so if you decide to hire an accountant from the outside, he/she may have some difficulty working with this data.
Best Accounting Mobile App for Small Businesses: FreshBooks
Not all mobile apps were created equal and if we compare FreshBooks’ ease of use and impeccable customer service, this mobile app stands head and shoulders above the rest. First of all, just because software is mobile does not mean that it has to compromise on certain features. It is also one of the most competitive in terms pricing. The mobile version is totally free as long as you have a FreshBooks subscription. The hot new features in the redesigned FreshBooks app is the “Create new” button which is a shortcut to creating new invoices and entering new expenses. The top bar also highlights your outstanding balances so you don’t have to fumble around looking for them. It’s also very easy to contact customer support. There is a handy “Help” button at the top right-hand corner, which immediately gives you access to support. This may not seem like such a big deal, but with most companies, you have to spend time looking at their website to find a phone number.
Having said this, beware of the drawbacks. First of all, regarding report availabilities. If you want to view reports, you will have to exit the app. Second, is the app’s availability. Right now, the FreshBooks mobile app is only natively available in the App Store and Android Market.