Accounting is a vital activity that every business should implement. There are a lot of great accounting software in the market today, but in this review we’ll talk about the top accounting software in the Philippines. You can also find alternatives for small businesses in UK and US.
Here are the Top Accounting Software For Small Businesses in the Philippines for 2021 based on user reviews, number of orders/downloads per month, popularity and awards.
Wave: Most affordable
Most affordableWave Accounting
3.6
- Free
Free-for-life accounting software
Unlimited users
Income and expense tracking
Data as of 11/5/21. Offers and availability may vary by location and are subject to change.
For exactly $0, Wave presents you with a slick, user-friendly dashboard and a slew of features that rival those of its paid competitors. For instance, Wave Accounting includes multi-currency support, expense tracking, unlimited invoicing, and double-entry accounting—a more accurate method of accounting that FreshBooks’ basic business accounting plan notably lacks.
Wave also lets you juggle multiple businesses with the same account. If you’re an Amazon or eBay seller who also manages a small team of contractors, you can track both sets of finances without paying anything.
Even though Wave has a useful payroll tool, its accounting software isn’t necessarily right for businesses with dozens of employees. Since Wave offers just one accounting plan, businesses can’t scale up to plans with more features as they grow. And Wave’s lack of inventory tracking makes it better matched to service-based solopreneurs and freelancers who don’t need both accounting and inventory software.See Wave’s Accounting PlansRead our Wave Review
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Sage Business Cloud Accounting
Sage Business Cloud Accounting, formerly known as Sage One, is a global brand that offers online accounting and business services for small businesses. It was founded in 1981 in Newcastle, England, as a way to develop estimating and accounting software specifically for small businesses. It’s now cloud-based and allows you to choose your industry, company size, and needs. It will match you with specific accounting solutions and is used by over three million businesses.
It’s our choice for best accounting software for small businesses with multiple users because it’s a reputable company, provides software that doesn’t require any accounting knowledge, and is set up for use by multiple users. Your accountant can use the software and access your books for no additional fees.
Sage Business Cloud Accounting’s features include:
- Manage business finances and cash flow
- Accept and receive payments
- Create and send invoices
- Manage payroll
- Available on all devices so you can check your financials on the go
- Integrate with your financial institution and other apps including AutoEntry, Zync, and more
- Tax compliance tools
- Dashboard view with easy-to-read financial reports and analysis
- Inventory control
- Forecast cash flow
- Share access with your accountant in real-time on any device
- Add-ons such as human resources management and estimating
Pricing is tiered for Sage Business Cloud Accounting as follows:
- Accounting Start: $10 per month for entry-level accounting to help manage cashflow
- Accounting: $25 per month for powerful cloud accounting with invoicing, cash flow, management, and actual entries
The company is currently offering a 50% discount for three months and offers free trials. Contact them directly for specific features your business may need.
Bonus
Microsoft Excel
This is an old but gold Microsoft app you’ve been taught to use since high school, and learning how to work your way around it for accountancy has its advantages. Microsoft created the excel sheet with accounting functions in mind so you can easily analyze your tax compliance data online and offline.
Xero
If you wish for a more comprehensive accounting tool than the common Microsoft excel, you can opt for Xero. It is accounting software with features that make invoicing, billing, and data reporting easy. You can get all these amazing perks at a premium monthly cost but you can enjoy a free trial period upon sign up.
Visit Xero to learn more.
Quickbooks
Another accounting tool you can use with a monthly subscription is Quickbooks. It provides accountancy solutions such as tracking cash flow, managing sales or income, tax compliance organization, generating profit and loss reports, and even enjoy online payment since Quickbooks is partnered by Intuit Payments for faster transactions.
If this solution is a winner, try Quickbooks and enjoy a 30-day trial period!
Sprout Solutions
Unlike the first three accounting tools, Sprout Solutions is more focused on HR Administrative tasks with accountancy features. Preparing payroll and tracking your employee’s financial benefits and deductions are easier using this website. And best of all, it’s free for startups with only 50 or fewer employees!
Sign up or book a demo of Sprout Solutions’ services.
Sage 50
For core accounting needs such as expense tracking management and project accounting, Sage 50 is the software you should look into. It is widely used by various SME Businesses for their accounting needs.
Find out how Sage 50 can cater to your business needs.
JuanTax
If you need a tool for tax compliance, JuanTax is the best solution for you. Through JuanTax, you can make digital copies of your important documents such as receipts for tax returns. You can even download tax forms and file them through their system.
Other notable features include a mobile version, automated tax calculation, client monitoring dashboard, and a cloud archive system for optimum data storage security.
Consult or talk to us and have your #TaxDoneRight with JuanTax.
Zoho Books: Best automation
3.9
- Starting at $15.00/mo.*
Middle-of-the-road starting price
Additional users for $2.50/user/mo.
Automatic recurring invoicing
Data as of 11/5/21. Offers and availability may vary by location and are subject to change.
*When billed annually.
Zoho Books automates the most common (and, let’s face it, boring) bookkeeping tasks—which means you can dedicate more time to your business and customers and less time to the tedious task of data entry. Most notably, it lets you set automatic customer payment reminders, create recurring expense profiles, and manage 1099 contractors.
Plus, Zoho Books is just one piece of software in the larger suite of Zoho products. Each Zoho product integrates easily with the rest, which means that along with accounting, you can use Zoho for project management, inventory management, and customer relationship management (CRM)—just for a start.
Plus, if you make under $50K a year, you can take advantage of Zoho Books’ free plan. Otherwise, Zoho Books starts at $15 a month if you pay annually or $20 if you pay month to month. The cheapest plan includes three users, but you can also pay an extra $2.50 per month for each additional user. That’s a standout bargain, especially compared to FreshBooks’ extra $10 per user per month.
Unfortunately, even though it’s a solid accounting tool, Zoho Books has one huge flaw: Zoho doesn’t offer a payroll plan integration unless you live in California, Texas, or India. And it doesn’t integrate with third-party payroll providers either. Instead, you have to manually update the payroll-related aspects of your books—which detracts from Zoho’s primary perk of automation in a big way.
Similarly, Zoho Books’s cheapest plan doesn’t include automatic journal entry creation. Instead, whenever you debit or credit an account, you’ll have to manually create an entry. If you log more than a few transactions a month, the lack of automation adds major time and hassle—you’ll want the $40 a month (or $50, billed monthly) Professional plan instead.See Zoho’s Accounting PlansRead our Zoho Books Review
Conclusion
There are many business owners who are doing all of their accounting manually, but this is an expensive and time-consuming process. A better alternative is to find the best accounting software for your small business.