Do you own a small business? If so, then I’m sure you already know that keeping track of all the expenses and income for your company is no easy task. Like most entrepreneurs, the last thing you want to do is spend hours upon hours keeping track of your expenses and income. If this sounds like you, then I’ve got some great news for you! BestBookKeepingSoftwareForSmallBusinesses.com has all the information that you’re looking for when searching for top bookkeeping programs!!
Best bookkeeping software for small businesses is not the same as best payroll software for small businesses and best accounting software for small business. If you’ll be using your software to process ten or more invoices a month and pay out more than fifty checks a month, then you will need a different solution than if you’re processing only half that amount.
Choosing the right software for your business
What strengths of each of these eight tools make them the best? Let’s consider where they shine in terms of ease of use, features, and pricing.
Most comprehensive DIY software: QuickBooks
Intuit QuickBooks Online is used by thousands of small businesses, and for good reason. This cloud-based software has a robust set of features that can be easily accessed online or through its mobile app.
QuickBooks’ features include:
- Invoicing and payments, receipt capture and expense tracking, mileage tracking, cash flow and inventory management, and more. Features vary depending on which plan you choose.
- The ability to add additional users including your employees or your accountant to your account and manage their access.
- Forums and online training resources to get you up to speed on the right way to use this tool.
- Integrations with QuickBooks Payroll, as well as third-party apps like Square, Stripe, and PayPal.
Depending on the features you need, you’ll want one of QuickBooks’ four monthly plans:
- Simple Start – $25 per month for basic features such as income and expense tracking, invoicing, general reports, and sales and sales tax tracking.
- Essentials – $50 per month for everything in Simple Start, plus up to three users, time tracking, and bill pay.
- Plus – $80 per month for everything in Essentials, plus up to five users, inventory tracking, and project profitability tracking.
- Advanced – $180 per month for advanced features, including up to 25 users, automation, a dedicated accounts team, and exclusive premium apps.
QuickBooks Online is a great place to start if you want to streamline your bookkeeping and accounting.
Best free option: Wave Accounting
If you’re a freelancer or a service business that doesn’t need inventory management or payroll-related features, Wave Accounting may be a good option for you. You can access Wave’s free accounting software either online or on the mobile app, and give your accountant easy access to your reports at year-end.
Features of Wave Accounting include:
- Income and expense tracking, financial reporting including profit and loss statements, invoicing, and receipt scanning.
- Premium add-ons such as payment processing, payroll, and payroll taxes.
- The ability to add unlimited partners, collaborators, or accountants.
- Unlimited bank account and credit card connections.
- Integrations with Stripe, Shopify, HubSpot’s CRM, and more.
Besides the free accounting features, Wave offers additional paid features as follows:
- Payment Processing – 2.9% + 30¢ per transaction for Visa, Mastercard, Discover; 3.4% + 30¢ per transaction for American Express; 1% ($1 minimum fee) per ACH bank payment.
- Payroll – $20 or $35 monthly base fee (depending on what state your business operates in) + $6 per active employee and $6 per independent contractor paid.
Wave offers a nice balance for those who want to keep accounting costs low while still having access to additional features if needed.
Pabbly
Pricing: Starts at $9/month
Pabbly Subscription Billing is a recurring and subscription management software for small to medium-sized businesses. This software provides real-time actionable metrics on your monthly payments, revenue, net revenue, active customers, and new subscriptions. It also automates all your business workflows, customer communication, and invoice creation so you can focus on your business growth.
Best for Businesses Looking for a Reliably Fixed Pricing Model
One of Pabbly’s key selling points is its subscription billing model. It’s one of the only software on this list that doesn’t charge any extra fees on the basis of per-transaction and monthly revenue generation. That kind of consistency — paired with it’s first-rate functionality — make Pabbly a solid option.
Xero
Pricing: Starts at $11/month
Xero lets you get financial performance reports sent straight to you, and connect your bank account for a seamless experience. If you need payroll services, you’ll have to use them through Xero’s partnership with Gusto. And if you value live support, you should probably look for another provider.
Best for Businesses That Conduct Their Business on the Go.
One of Xero’s most impressive characteristics is its mobile experience, making it an excellent option for businesspeople who work on the go. The software allows you to send custom invoices, track inventory, and create purchase orders to attach to bills — all from your phone or tablet.
Zoho Books
Pricing: Starts at $15/month
Zoho Books is an excellent resource for helping your small business manage cash flow and finances. The software lets you automate workflows and work collectively across departments. It includes first rate tools for inventory management, banking, time-tracking, and financial reporting — all backed by an industry-leading UX.
Best for Ease of Use
One of Zoho’s biggest draws is its accessible, user-friendly interface. It comes with an easy-to-read dashboard that virtually any member of your organization can make sense of. It also offers benefits like excellent customer support and the ability to accept payments online. All told, Zoho is one of the better software for more casual users.
Kashoo
Pricing: Starts at $20/month
Kashoo is a solution that offers powerful functionality at a reasonable price. Among the software’s features are automatic reconciliation, categorization using machine learning technology, and income and expense tracking.
Conclusion
It can be very difficult to manage all the back-end stuff of your business. With more and more small businesses relying on online accounting solutions, it’s becoming more and more common for smaller companies to search for the best bookkeeping software for their businesses. If you’re someone who is looking for a cost-effective and efficient solution for your business, then read on!