Business Finance Software — how do you pick the best software for your business? There are so many options and it can be difficult to know which solution is best. This guide will help you through the decision process and provide information on the top rated and reviewed systems.
How does accounting software work?
Accounting software records transactions and tracks different accounting metrics. You can set up the software to automatically receive financial information from your bank or use an extremely basic version that might require manually inputting the data. We encourage you to use software that automatically receives financial information from your bank and credit card provider to track your business’s finances. Further, most software solutions store the information in the cloud, so your data will be secure and safe if your computer crashes or you experience other technical issues.
Which small business accounting system is best?
Based on our research, QuickBooks Online is the best small business accounting system. But, depending on the specific needs of your business, another system may be a better fit or better value. For example, if your business provides a service and sends a lot of invoices, FreshBooks might be the best choice for you because of its robust invoicing features. See our best picks above for our specific recommendations for different business sizes and needs.
What do you need from your accounting software?
You need accounting software that tracks the money moving in and out of your business, with both accounts payable and accounts receivable features. Some software solutions don’t include both accounts payable and accounts receivable information. Also, accounting software should connect to your bank and credit card accounts and automatically download your transactions. If your business is service based, you may need project management tools. If your business sells products, you may want an accounting solution that has inventory management features. Last, look for software solutions that offer greater advantages by connecting to other business applications you already use, such as your point-of-sale system, customer relationship management system or email marketing software.
Do you need online bookkeeping software instead of accounting software?
For small businesses, the term “online bookkeeping software” is usually interchangeable with “online accounting software.” (However, there is a difference between bookkeepers and accountants.) The best online accounting programs for small businesses have bookkeeping capabilities that allow you to record debit and credit transactions, as well as accounting features that let you run reports and analyze your business’s financial performance. Look for more than just a bookkeeping solution; accounting software should include more detail and let you generate invoices and detailed reports.
Should your accounting software also act as an invoice generator?
It depends on your business. If you generate (or expect to generate) a lot of invoices to send to clients and customers, we recommend that you find a comprehensive accounting application with invoice-generating features. Freelancers should consider using accounting software that can generate invoices.
What does an online accounting service do?
Online accounting services can perform a wide range of tasks for busy business owners. Some focus on bookkeeping duties, such as entering and categorizing transactions, reconciling accounts, and generating financial statements and reports that you can take to your CPA at tax time. Others provide payroll and tax preparation services. Some – such as virtual controllers, chief financial officers and CPAs – provide high-level accounting services, like internal audits and financial planning and analysis.
How much should a small business plan expect to pay for accounting software?
For some small business owners, an accounting platform that tracks expenses and sends invoices is all that’s needed. For others, advanced reporting, inventory management, and e-commerce are more important. The camp you fall into will dictate how much you pay for accounting software. Some accounting software options are free, while paid versions can cost as much as $25 per month, per user. The total cost of what you spend will be determined by the complexity of the software you choose and how many employees you want to have access to it.
Should small businesses look for certain accounting software attributes?
Small business owners should look for accounting software that is easy to install, simple to use, easily integrates with third-party apps, and provides a bevy of features and functionality including invoicing and inventory management. The best accounting software enables easy collaboration between you and your accountant.
BENEFITS OF ACCOUNTING SOFTWARE
Managing your finances is vital to the success of your business, and choosing the right accounting software can make that a whole lot easier. There are a lot of benefits from swapping out pen and paper or an Excel spreadsheet for accounting software. Here’s a look at a few of them.
Improves organization
Small businesses can’t afford not to have their finances in order. Whether it’s time to pay the tax bill or forecast for the next year, it can be difficult to get the information you need if you are not organized. Accounting software helps you stay on top of your financial data. It organizes financial information, stores it in one location and automates many time-consuming accounting processes, thereby freeing you up to focus on running your business.
Doesn’t break the bank
Thanks to cloud-based offerings, the price of accounting software has come down a lot over the years. Today, small business owners have a lot of choice: Accounting software costs range from free to $350 a month. The size of your business and your accounting needs dictate how much you pay. But if that monthly cost means you’ll optimize cash flow, meet tax obligations and identify growth opportunities, it’s probably worth it.
Ensures best practices
Taxes are part of running a business, and many accounting software vendors are well aware of that. As such, they’ve designed programs that calculate sales tax, prepare tax forms and even file taxes with no intervention on your part.
KEY FEATURES OF ACCOUNTING SOFTWARE
There are many aspects of accounting software that help make it a useful tool. As a small business owner, it’s important to know which features to look for. Most online accounting software offers accounts receivable, accounts payable, banking and reporting features. Some programs include inventory management, project management, time tracking and payroll tools.
Here are some of the core features to look for in accounting software:
Bank Feed
This feature connects the software to your business bank and credit card accounts to receive a daily update of your transactions. This saves you time, because you will not have to upload transactions manually. It also gives you a daily, rather than monthly, overview of your accounts. A real-time bank-feed feature can assist with reconciliation, allowing you to make it a small daily task rather than a monthly ordeal.
Dashboard
When you log in to your account, you’ll be greeted by a dashboard that shows you an overview of your account activity and key metrics, such as cash flow, profit and loss, account balances, expenses, accounts payable and receivable, and sales. Some accounting programs allow you to customize what you see first by rearranging the information.
Online Invoicing
If your business sends invoices, the ability to email them and accept online payments helps you get paid faster. Some accounting programs integrate with third-party payment processors; others require you to use their in-house processing services. It’s a plus for accounting software to also serve as an invoice generator.
Recurring Invoices
With this feature, you can schedule the system to automatically generate and send invoices for recurring charges, such as subscriptions. You can choose how frequently invoices are sent – daily, weekly, monthly or annually – and indicate whether there’s an end date to the billing.
Automatic Payment Reminders
This feature helps you remind customers about upcoming and past-due payments. Some have sample email text that you can use as is or customize. You can then choose when you want the reminders to be sent. Some programs give you the option to send thank-you emails to customers after you receive their payments.
Bank Reconciliation
Smart reconciliation tools identify potential matches between your bank transactions and the bills and invoices you’ve entered into the accounting software, saving you the hours it would otherwise take to sift through your bank account for this information. You can then approve or deny the suggested matches. The best applications suggest potential matches as you reconcile your accounts, and a few include a reconciliation tool in their mobile apps.
Financial Reporting
Every accounting program can generate financial reports. But some are more basic than others, and some require you to subscribe to a pricier plan for advanced reporting. If you need specific types of financial reports, you’ll want to make sure they’re included in the software application and plan you choose. Detailed reports can help you interpret your financial data to make informed business decisions.
Mobile Apps
Not all accounting and invoicing programs have mobile apps, but the best ones do. There is, however, quite a range in the capabilities of mobile apps. Some can only capture receipts for expense tracking, some allow you to create and send invoices, and others have almost every feature the web-based software does. It’s worth checking if the software you’re considering offers a mobile app and, if so, what features are included in the app that will help you manage your business while you’re away from the office.
Integrations
The ability to connect your accounting software to other business programs you use saves you valuable time because you don’t have to manually transfer data from one system to another. Payroll, payment processing, POS systems and CRM software are just a few of the popular types of integrations that are available with accounting software. Integration with systems you already use also cuts down on training time for employees who will use the software.
Tracking for Billable Hours
If you’re a consultant or your business bills clients by the hour, you need software that allows you to track and bill your time or that integrates with the time-tracking program you already use. This is an important feature for freelancers.
Inventory Management
If you have a retail, e-commerce or distribution business, you need an application that helps with inventory tracking and purchase orders. You may need to subscribe to a top-tier plan to get this feature. If you need more advanced inventory features, look for software that integrates with a dedicated inventory management system.
Project-Based Billing
Firms, freelancers and consultants who work with clients on projects or jobs should look for accounting software that helps them track their projects’ tasks and budgets. The software should allow you to invoice customers for tracked time and bill them for project expenses.
Support for Multiple Businesses
Several programs we evaluated let you add more than one business to your account, though some companies charge extra for this convenience. Also, the types of accounting tools that are important to you will depend on the specific needs of your business. For example, if you run a small freelance business, project-based billing might be the most important feature on your list. Or, if you plan to do some work on your mobile device, a full-featured mobile app might be at the top of your list.
ACCOUNTING SOFTWARE PRICING
Accounting software helps business owners streamline billing and accounting, and it doesn’t have to cost a lot of money. Most programs offer several plans to accommodate your needs and budget.
There are typically two types of pricing models for accounting software: perpetual licensing or a recurring subscription. With a perpetual licensing model, you make a one-time payment for unlimited access to the software. With a subscription pricing model, you pay a monthly or annual fee for access to the software.
For subscription pricing, expect to pay anywhere from $4.99 per month for a basic starter plan to as much as $60 per month for a more advanced service plan. Other factors, like the included features and number of users, will affect the monthly cost as well.
Regardless of the pricing model you select, watch out for hidden fees, which can include added charges for customization options, installation or setup services, integrations, and maintenance or support services.
If your business is on a really tight budget, you might want to consider free accounting software. Wave, for instance, offers many of the accounting and invoicing features you would find in paid programs.
When you’re choosing accounting and billing software for your business, we strongly encourage you to take advantage of any free trials to test out the solutions and see which one offers the features and tools you need. Plus, spending time with the software beforehand helps you feel more confident in your decision.
Monitor and improve your business’ financial health
Updated November 02, 2021Fact checked by DALE BRAUNER
We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners. Learn more about how we review products and read our advertiser disclosure for how we make money.
Small business owners benefit from accounting software because it helps them track accounts receivable and accounts payable, have a clear understanding of their profitability, and be prepared for tax season. In the world of accounting software, a small business is one that can use out-of-the-box software without requiring extensive customizations. As a business grows, its accounting needs become more complex, and a custom enterprise resource planning (ERP) system is often needed.
There are many different types of accounting software available for small businesses, with varying capabilities and price tags. Generally, the type of industry and number of employees are two factors that can help a small business owner begin to choose the accounting software that is appropriate. For example, a freelancer would not need the same features in accounting software as a restaurant owner.
Nineteen accounting software companies were researched and compared before selecting our top five best suited for small businesses. When evaluating companies, we considered cost, ease of use, features, integrations, and scalability.
Intuit QuickBooks Online: Best for Small Businesses
Intuit QuickBooks OnlineQuickBooks Online has accounting features to meet the needs of businesses of all sizes, including the ability to craft invoices, send and accept payments, and manage and track expenses.QuickBooks’ Live Bookkeeper provides professional help.If you have the self-employed plan, you can’t upgrade to one of the small business plans.
What can’t QuickBooks do? The extremely popular accounting software is used by small businesses across the country. Accountants are quick to praise the application for its affordability, ease of use and effectiveness. It’s hard to find many flaws with QuickBooks, especially considering the needs of small businesses today. QuickBooks Online offers small business owners a feature-rich accounting platform that integrates with tons of business applications and doesn’t break the bank. Many businesses find it helpful to connect their credit card processing provider to their accounting software to close the loop on their sales. We like that the software is cloud-based and updated regularly.
Editor’s score: 9.5/10
We chose QuickBooks Online as our best pick for small businesses for several reasons. With this accounting software, you can create professional invoices, accept payments, track expenses and keep a steady eye on your cash flow. And that’s just with the Basic plan; the higher-priced plans let you send batch invoices, engage in deep analytics and even access a dedicated accounting team. QuickBooks Online integrates with several popular business apps, including Bill.com, Salesforce and HubSpot.
With QuickBooks, you don’t have to create financial reports from scratch, thanks to the software’s built-in reports, which include the trial balance, general ledger and 1099 transaction detail reports you’ll need at tax time. You can mark the reports you use most as favorites so you can quickly find them at the top of the Reports page. You can also set up the software to automatically run and email reports to you, and schedule them for a specific time of day and frequency, such as daily, weekly, monthly or quarterly. QuickBooks offers some of the best reporting options of any accounting software we reviewed.
Another advantage of QuickBooks Online is its versatile support. Whether you are the DIY type or prefer more hands-on help, QuickBooks delivers. With its Live Bookkeeping service, you can get help from a bookkeeper who will set up your software, categorize transactions, reconcile your accounts and close your books monthly and yearly. Even better, you don’t get charged for services you don’t need; the pricing for Live Bookkeeping depends on your needs.
If you already have an accountant, it’s easy to collaborate with QuickBooks. The software lets you give your accountant access for free; all they need to do is accept the invitation. You can remove access anytime. QuickBooks offers all types of small businesses a ton of accounting features without breaking the bank, and its reputation and adoption rate stand out in the market.
August 2021: QuickBooks recently rolled out a new payment device that enables small businesses to accept card payments on the go. The small contactless card reader integrates with QuickBooks Payments. The company said the new device is in response to a shift in the way small businesses accept payments since the pandemic.
Intuit has announced it is acquiring Mailchimp, the marketing platform used by millions of small and medium businesses. The accounting software company plans to integrate data from Mailchimp with QuickBooks so customers have actionable information to grow their business. The acquisition furthers Intuit’s goal to offer small businesses the digital tools necessary to support their growth.
April 2021: Intuit has launched a new DocuSign feature for QuickBooks that lets small businesses sign estimates directly from its online platform. The DocuSign eSignature Connector speeds up the process of sending estimates and enables you to track your estimates’ progress.
May 2021: QuickBooks Online is making it easier for business owners and accountants to manage their finance apps with the integration of Docyt. Docyt is an AI-powered tool that enables business owners to pay bills, manage expenses, capture receipts, and run reports from one location. Docyt’s integration with QuickBooks reduces the number of apps a business owner has to deal with to manage their finances.
FreshBooks Accounting Software: Best for Invoicing
FreshBooks Accounting SoftwareFreshBooks lets you easily craft invoices, accept payments through invoices, track expenses and send automatic reminders.You get a full suite of accounting tools to do everything from track time and expenses to run financial reports.If you need to add several team members, it can get expensive.
If you need to create and send invoices, it can be challenging to find a small business accounting app that matches your needs. Some solutions excel at invoicing but offer no accounting features; others include solid accounting services but lack quality invoicing tools. FreshBooks, on the other hand, succeeds at both.
Editor’s score: 9/10
Although all accounting software products have invoicing tools, FreshBooks is incredibly easy to use, which is why we picked it as the best accounting software for invoicing. The format is intuitive, and with just a few clicks, you can add billable time and expenses, customize the look of the invoice, and set up recurring invoices, automatic payment reminders and late fees.
This accounting software connects to your bank, generates several reports, tracks time and helps you manage projects. As a bonus, FreshBooks lets you give clients the option to pay bills through invoices, which speeds up the process of getting paid. If you have clients who are late in paying bills, FreshBooks lets you gently nudge them via reminders and alerts when bills are due or past due. You’ll know when customers receive and open invoices with this accounting software.
Beyond invoicing, there are a lot of other attributes of FreshBooks that made it one of our best picks. For example, you can track time spent on projects, as well as snap pictures of receipts and log them on the go. Plus, the double-entry accounting features ensure you don’t make mistakes that could throw off your ledger. With automatic checks and balances, you can rest assured that your debits and credits will balance out. This software also integrates with more than 80 popular business applications to give you a better overall view of your business.
FreshBooks gives you all of the features small businesses need in an accounting and invoicing software application. Although it’s not as comprehensive as some of the other options on the market, FreshBooks offers tremendous value as accounting software with strong invoicing capabilities. The ability to combine accounting software tools and invoicing tools is rare, but FreshBooks does the job effectively. For businesses that don’t send invoices, other accounting solutions make more sense, but freelancers and project-based businesses will naturally be drawn to the features and affordability of FreshBooks.
Oracle NetSuite Accounting Software: Best ERP Tools
Oracle NetSuite Accounting SoftwareNetSuite offers a variety of features, including enterprise resource planning tools.The software focuses on automation, making it simple to send and collect invoices.The website isn’t clear about pricing, so you need to contact a sales representative to determine the cost.
Oracle’s NetSuite is a great choice for small business owners who want to get a complete picture of their business while automating aspects of accounting. With this software, you can manage all aspects of your business from one dashboard, making NetSuite our pick for the best accounting software with enterprise resource planning (ERP) tools.
Editor’s score: 8.5/10
NetSuite is a full-featured accounting and ERP program geared toward businesses with more complex needs. You can make and receive payments, run a slew of reports and manage taxes. NetSuite has embraced automation, making it easy to send invoices and receive payments, and it has robust tax management tools that support all currencies and exchange rates. If you have international sales, the software automatically processes sales and payments based on the local laws you’re selling or operating in. There’s also a revenue recognition management solution that helps business owners meet accounting standards and report financial results on time.
Cash flow management is also simple thanks to a robust set of features that provide insight into your cash, making it easier to optimize cash, control bank accounts and remain compliant with rules and regulations. NetSuite’s payment management system centralizes payments, while the planning and budgeting features unify data to help you plan. It’s also easy to create budgets and forecasts, plan for what-if scenarios and run reports on many aspects of your business. To keep you in control, NetSuite lets you set permissions.
NetSuite also has numerous ERP tools to manage finances, inventory, production and the supply chain, and the ERP functionality also helps you plan for the future. Because NetSuite comes with so many features and tools, it’s difficult to get an accurate price without reaching out to a NetSuite sales representative. There’s an online form you can fill out to set up a free demonstration.
NetSuite may not make sense if you are self-employed or a microbusiness without complex needs. But if you require a more holistic approach to accounting and want to be able to budget, plan and forecast, NetSuite deserves serious consideration.
Zoho Books Accounting Software: Best for Microbusinesses
Zoho Books Accounting SoftwareZoho Books has apps for popular operating systems and devices – including Apple, Android and Windows – allowing you to send invoices, reconcile accounts, and accept payments on the go.Through Xero, you can track and manage bills and vendor credits.Xero has a limit of 5,000 transactions per month, which isn’t enough for some businesses.
Microbusinesses need simple accounting software, and that’s where Zoho Books comes in. Zoho Books offers all of the basic features that microbusinesses need, as well as advanced tools such as project billing and time tracking. It also has integrations, so you can continue using the software as your business grows. We selected Zoho Books as the best accounting application for microbusinesses because of its simplicity and value.
Editor’s score: 8.75/10
With its Apple, Android and Windows mobile apps, Zoho Books makes it easy for business owners to send invoices and manage their books on the go. There are even dedicated apps for the Apple Watch and Android smartwatches. The ability to create and send invoices from the app means that, as soon as you finish a job, you can bill a client, instead of waiting to get back to the office.
When you use simple accounting software, you don’t want an outdated user interface or features that are so basic you can’t glean important business insights from the data. That’s what makes Zoho Books stand out: While the platform is easy to use, it doesn’t lack features, and the interface is modern and sleek. It can also speed up many business processes via automation, which is a nice time-saving feature.
You can set recurring invoices and send automatic payment reminders, and if you link your payment processor with Zoho Books, you can accept payments in invoices. You can automate reporting, too; Zoho Books lets you schedule when to run reports and then automatically emails them to you.
Another feature that sets Zoho Books apart from its rivals is the company’s client portal, a website your customers can visit to view invoices, make comments and pay online. This is a particularly helpful feature for businesses that work closely with their clients on projects. If you want feedback from your customers, you can set up the portal to allow them to review your services.
Zoho also has its own suite of integrated business apps, including customer relationship management (CRM) software, email marketing and social media marketing solutions, spreadsheet editors, and other productivity tools. Like its competitors, Zoho Books integrates with third-party productivity apps and business solutions, including Google apps, the Square point-of-sale (POS) system, several credit card processors, and tax services Tax1099 and Avalara. It also has a Zapier integration, which allows you to connect to more than 1,000 third-party apps. With all those features and services, it’s easy to see why Zoho Books is our pick for the best accounting software for microbusinesses.
September 2021: Aiming to help small business owners as they emerge from the pandemic, Zoho made its Zoho Invoice platform free to its customers. In addition to sending bills, the software lets you track time, manage project billing, and access more than 30 features and tools to help you get paid and collect past-due bills.
Xero: Best for Growing Businesses
XeroXero offers more than 700 app integrations to manage all aspects of your business.You get support via email and live chat 24 hours a day.Xero isn’t as well known as QuickBooks, which may affect your accountant’s learning curve.
Although many businesses start small, they don’t always stay that way. You want accounting software that can grow alongside your business, and Xero does exactly that.
Editor’s score: 8.5/10
Unlike accounting programs that base pricing on the number of users each plan supports, Xero’s subscription plans support unlimited users. So, as your business grows, you can add new employees to your account at no additional cost. All plans include most features, such as estimates, inventory tracking and recurrent invoicing. The software supports more than 700 app integrations, and it comes with 24/7 email and live chat support.
There’s another reason we chose Xero as the best accounting software for growing businesses: The pricing plans were created for different stages of a company’s growth. Xero has plans for freelancers, solo traders, business owners just starting out, more established small businesses and even enterprises.
Xero can run over 50 reports, including profit and loss statements and a general ledger. You can customize reports, view them as charts, search date ranges and apply other filters. Once you’re done running a report, you have the choice to print it or export it as a PDF, Excel spreadsheet or Google Sheet.
Like other accounting software, Xero lets you manage inventory, which is extremely helpful if your business sells and stocks a lot of products. You can track items in real time, monitor inventory and spot trends in your sales.
Xero also provides mobile access via apps for the iPhone, iPad and Apple Watch. This accounting software is also easy to use, thanks to an interactive dashboard that tells information such as when invoices are due and which bills still need to be paid.
On top of all that, you get project management tools if you sign up for the Established plan. Using these tools, you can track tasks, expenses, budgets, billable time and payments, as well as collaborate with other users on specific projects and invoice customers through the software.
We believe that Xero’s assortment of features, combined with its customer support, makes it one of the better options on the market. When you add in the mobile app, you get an ideal accounting software for growing businesses.
ZarMoney: Best for Transparent Pricing
ZarMoneyThe ZarMoney website clearly lays out pricing.ZarMoney connects with more than 9,600 banks in the U.S. and Canada to automatically import bank transactions.You can’t send recurring invoices yet.
With ZarMoney, there are no secrets about pricing. The company’s website states exactly how much you’ll pay monthly, which is why we chose it as our pick for the best accounting software for transparent pricing. Far too often, it’s hard to determine how much an accounting program will cost, making it difficult to comparison-shop. ZarMoney, by contrast, prides itself on being straightforward, and that’s reflected in the clearly laid-out pricing plans.
Editor’s score: 8.25/10
ZarMoney has simple pricing plans geared toward entrepreneurs, small business owners and enterprises. The entrepreneur plan is $15 a month for one user and supports unlimited transactions, and the small business plan covers unlimited transactions and two users for $20 a month. Each additional user on those plans costs $10 a month. For large businesses that want more than 30 users, ZarMoney charges $350 a month. All plans provide customer support in the U.S.
ZarMoney has a toolbar that shows you how much the software costs per month based on the number of users. We like that you can add and remove users based on your business’s current needs. If you add another user, the account is automatically updated, saving you time because you don’t have to contact customer service to make a change.
ZarMoney includes many accounting features at an affordable rate. Through the software’s accounts receivable solutions, you can manage the status of estimates and sales, accept online credit card payments, and provide different payment terms and early-payment discounts. Soon, you will be able to send recurring invoices.
ZarMoney connects with more than 9,600 banks in the U.S. and Canada, which means there’s a good chance it supports your bank. With these connections, ZarMoney automatically imports bank transactions daily for you to approve and/or edit. You can also make batch deposits, calculate sales tax and easily transfer funds.
Plooto: Best for Automating Accounts Payable Processes
PlootoPlooto’s payment platform lets you manage payments, approvals, reconciliation and reporting from one central location.The software provides accounts payable and accounts receivable automation, speeding up payments.Plooto syncs with only QuickBooks and Xero, which could be limiting.
Most small businesses are crunched for time, so anything they can automate is welcome. Plooto gives small businesses a whole lot of that for a low price, which is why we selected it as the best accounting software for automating accounts payable processes.
Editor’s score: 7.75/10
Plooto is a payment platform that enables small businesses to manage their payments in one central location, thus giving business owners a clear picture of their financials and more control over them. Payments, approvals, reconciliation and reporting are unified under one dashboard.
The software includes smart approval workflows and secure electronic payments, which reduce errors and speed up the accounts payable process. In addition, Plooto offers business accounts payable and accounts receivable automation, which helps small businesses collect on past-due bills.
While lots of payment platforms offer similar features, Plooto stands out for providing an affordable way to automate all accounts payable tasks. You can use the same system to pay all vendors, even if they are located outside the U.S., as well as add payees in seconds, either by searching Plooto’s network of 120,000 suppliers and vendors or by adding them manually.
Plooto also speeds up payments by automating invoicing and allowing you to accept payments within invoices. Once a customer pays, the payment is automatically reconciled. Another plus is that Plooto integrates with QuickBooks and Xero, two popular accounting programs, giving you clearer records of payments, audit trails and easier reconciliation. You can pay electronically or via check with the integrations, as well as make batch payments, search records and set payment approvals.
When it comes to managing accounts receivable, you want a program that is easy to use, affordable and transparent. Plooto checks off all those boxes, which is another reason it made our list of best picks. Plooto charges $25 a month for 10 domestic payments and 50 cents for each additional domestic transaction. Each international transaction costs $9.99, and each check payment is $1.99. There are no limitations on the number of users, approvers, customers, vendors or bank connections, and there is no charge for an accountant to collaborate. Plooto recently added the ability to accept credit card payments via its Credit Card Acceptance offering. This speeds up the time it takes to get paid. In many cases, this service can get money into your bank account in just two business days. Plooto charges 2.9% + $0.30 per transaction.
Plooto is a good choice for small businesses that need an affordable way to enhance their accounts payable and accounts receivable and save time. It also stands out for its automation and integrations with QuickBooks and Xero, making it great accounting software for business owners who work with those accounting plans.
Conclusion
One of the things that sets businesses apart from other kinds of organizations is their extensive use of technology to handle several facets of their operations. If you are thinking about starting a business, it will be useful for you to study the kind of software programs that are available for several aspects of your business.