Accounting Software for Small Business Market Size

You want to know, how big is the market of accounting software for small business. In this article you will find information about financial software market size, and how much it will grow in the next several years. You can find out the answer to your questions simply by reading this article.

Do you know the software market size of accounting software for small business? Do you want to know the free small business accounting software? This article is about small business accounting software free and accounting software market size. In it, you will find the detailed and useful information for your reference.

Accounting Software Market covered the value of US$ 11,071.6 Mn in 2018 and is anticipated to reach a whopping value of US$ 20,408 Mn by 2026

Major Factors Driving The Growth Of The Accounting Software Market Are:

Accounting software is used to keep track of accounting activities or handle money coming in and out of an organization. Account payables, account receivables, business payroll, and general ledger, among other business modules, are all managed using the software. These features are in turn expected to increase the adoption among SMEs and thereby drive the growth of the accounting software market.

During the forecast period, the growing tendency of small and medium businesses working with e-commerce players and integrating with other online applications, such as automated bank feeds and automated billing capabilities, is likely to increase accounting software adoption.

The increasing need for better account management solutions in SME and other micro organizations, as well as increased penetration of business accounting mobile applications to manage business functional modules, are driving the accounting software industry growth.

Trends Influencing The Growth Of The Accounting Software Market

The ongoing move from the traditional method of manually maintaining financial records to using an accounting information system is a significant trend in the accounting software market. Accounting software used to be focused on basic accounting functions including general ledger, accounts receivable, accounts payable, payroll, and inventory. Accounting software now integrates with CRM, supply chain management, human resource management, and dashboard and reporting systems. Accounting software processes and records all financial activities in functional modules such as accounts payable, accounts receivable, payroll, and trial balance. It keeps track of transactions, cash flows, does computations and provides dashboards and reports in the same way. Accounting software is widely used by both large and small businesses to keep track of financial transactions. Increasing adoption from both large and small businesses is expected to drive the growth of the accounting software market.

Increasing Demand for Cloud-Based Accounting Software is expected to provide lucrative growth opportunities for the player in the accounting software market. Today’s leading accounting solutions provide real-time business visibility through dashboards and reports that are simple to build. Financial aggregation, reporting, and analysis across numerous corporate units are becoming increasingly important. Accounting software is being used by businesses to manage their finances. The end-use sectors are progressively embracing cloud-based and accounting software as demand for cloud computing grows, as it saves processing time and costs.

Accounting platforms are going beyond accounting to become marketplaces for financial and business consulting services, with extensive and expanding app ecosystems that allow small businesses to plug in the other products they use to run their firm. The manual data input task that traditionally constituted the majority of accountants’ work is steadily becoming automated through integrations, from accounts payable to cash flow forecasting to audits to loan management. Over the next few years, accounting software companies with the broadest range of integrated products and services, from payments to insurance, will gain the most market share.

Accounting Software Market covered the value of US$ 11,071.6 Mn in 2018 and is anticipated to reach a whopping value of US$ 20,408 Mn by 2026

Accounting Software Market Share Analysis

North America is expected to witness significant growth during the forecast period. The presence of strong and prominent players operating in accounting software across the United States, as well as spending by the United States government for the provision of accounting management systems in various public and private organizations, are likely to drive growth in the North American region.

In addition, market revenues based on region and country are provided in the report on Accounting Software for Small Businessess. The authors of the report also shed light on the common business tactics adopted by actors. The main players in the global bAccounting Software for Small Businesses market and their full profiles are included in the report. In addition, investment opportunities, recommendations and current trends in the global Accounting Software for Small Businesses market are mapped by the report. Thanks to this report, key players in the global Accounting Software for Small Businesses market will be able to make good decisions and plan their strategies accordingly to stay ahead of the curve.

The competitive landscape is an essential aspect that every key player must know. The report highlights the competitive scenario of the global Accounting Software for Small Businesses market to know the competition at the national and global levels. The market experts also presented the broad outlines of each major player in the global Accounting Software for Small Businesses market, taking into account key aspects such as business areas, production and product portfolio. In addition, the companies in the report are studied according to key factors such as company size, market share, market growth, revenues, production volume and profits.

The major players covered in Accounting Software for Small Businesses Markets:

Quickbooks
Xero
Zoho
Freshbooks
Wave Financial
Billy
Freeagent
Kashoo
Oneup

ZipBooks

ZipBooks provides powerful and simple-to-use accounting software designed to help small businesses move to the next level. ZipBooks’ free starter option includes unlimited invoicing, unlimited vendors and customers, unlimited bookkeeping, the ability to connect and manage one bank account, and a business health and invoice quality score.

GnuCash

GnuCash is an open-source accounting program that offers many features to help you manage your small business accounting. Volunteer developers update the software regularly, which means the program is always kept up-to-date.

GnuCash pros

GnuCash’s strength is that it contains advanced features such as customer and vendor tracking, job assignments, invoicing, bill pay, sales tax management, payroll management, and budget creation and management.

The checkbook-style register is an easy-to-use interface for entering all of your checking and credit card transactions. You can also enter income, stock, and currency transactions.

You can split transactions, mark transactions as canceled or reconciled, autofill entered transactions, and display multiple accounts in a single register window.

GnuCash cons

Since GnuCash is not cloud-based and only locally installed on a desktop computer, access to your financial data is limited to only one machine and one user. While GnuCash offers a mobile app, it is only for Android-based devices and requires you to manually import the data, which can be a pretty tedious process.

The interface of the program is also a bit dated and requires some time to get used to. Many users report problems with manually importing their transactions.

GnuCash’s customer support is through a public email-based discussion board, so it may take a while before you get a response to your question. Their chat support uses an obsolete IRC channel system, which can be tedious to set up.

SlickPie

The free accounting software SlickPie is also worth looking into for your small business finances. The free version of this accounting software allows for unlimited automated receipt entries, 10 different companies on one account, and email support. It also allows you to create quotes and estimates that can easily become professional invoices. SlickPie also allows you to connect your PayPal and Stripe accounts for free. That means customers will be able to fulfill their invoices with card or PayPal payments online—and you’ll simply have to pay the standard transaction fees that PayPal and Stripe charge.

One feature that this free accounting software seems to be lacking is reports—the SlickPie website doesn’t highlight any built-in reporting capabilities. If you’re hoping to extract valuable, high-level insights from your accounting software, then you might want to consider options other than SlickPie.

Brightbook

Brightbook is a free online accounting system, designed to help time-strapped and cash-strapped small businesses with no accounting experience run their business easier. Businesses can send professional-looking invoices in any currency, track bills and find out who owes them money in an instant with the easy-to-use Brightbook system.

CloudBooks

While CloudBooks’ basic features are free, it doesn’t offer as much as the competition.

CloudBooks pros

CloudBooks is an online accounting software program that allows you to manage your online invoices, expenses, and projects. You can also view financial reports from any mobile device with their free app. Their platform allows for unlimited staff users, which means you can share access to your books as needed.

CloudBooks cons

CloudBooks is generally geared towards freelancers with few clients. Unless you are willing to shell out $10-$20 a month, you are limited to only five unbranded invoices per month. There is also no phone support or Paypal integration for the free version.

Accounting Software for Small Businesses Market Report Scope

Report Attribute	Details
Market size available for years	2021 – 2028
Base year considered	2021
Historical data	2015 – 2019
Forecast Period	2021 – 2028
Quantitative units	Revenue in USD million and CAGR from 2021 to 2027
Segments Covered	Types, Applications, End-Users, and more.
Report Coverage	Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends
Regional Scope	North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail of customized purchase options to meet your exact research needs. Explore purchase options

Regional market analysis Accounting Software for Small Businesses can be represented as follows:

Each regional Accounting Software for Small Businesses sectors is carefully studied to understand its current and future growth scenarios. This helps players to strengthen their position. Use market research to get a better perspective and understanding of the market and target audience and ensure you stay ahead of the competition.

The base of geography, the world market of Accounting Software for Small Businesses has segmented as follows:

North America includes the United States, Canada, and Mexico

Key questions answered in the report:

What is the growth potential of the Accounting Software for Small Businesses markets?
Which product segment will get the lion’s share?
Which regional market will emerge as a forerunner in the coming years?
Which application segment will grow at a steady pace?
What are the growth opportunities that could emerge in the lock washer industry in the coming years?
What are the main challenges that the global Accounting Software for Small Businesses markets could face in the future?
What are the leading companies in the world market of Accounting Software for Small Businesses?
What are the main trends that have a positive impact on the growth of the market?
What are the growth strategies envisaged by the players to maintain their grip on the global market for Accounting Software for Small Businesses?