If you are self-employed, small business accounting software is a must-have. Believe it or not, the best accounting software for s corp can save you a lot of time and enable you to focus more on growing your business. However, this is not an easy task because there are hundreds of options out there and most are confusing. In addition, choosing the right accounting software should be based on your actual needs and your way of working.
It’s no secret; be it an incorporated business or a small business, accounting is one of the most important aspects to consider. Do not let your s corp go bankrupt because of pricing issues. Before you sign up with any accountancy company, it’s vital that you know its best affordable small business accounting software free in market.
Quickbooks
This amazing popular accounting software tops our list of the best accounting software for S-corps. While QuickBooks is a good option for small businesses, from our research, it is also the best accounting software for S-corps. QuickBooks takes in the special characteristics of S-corps and offers features and add-ons that best fit your business.
It also has one of the best customer support and easy-to-use interface that you can also use with your mobile device to track your S-corps business performance even on the go.
Pricing
QuickBook has five pricing plans;
Its self-employed entry plan starts at $7.50/month.
Simple start: $12 50 /month
Essentials: $20/ month
Plus Plan: $35 /month
Advanced plan: $75 /month.
It also offers you a 30 days free trial.
We recommend you the Simple start plan as it comes with a payroll and bookkeeping feature, which is a necessity for S-corps, and it is also a good value for your money.
Features
- While as an S-corps, you are exempted from most tax, but you still need to pay taxes on your payroll. QuickBooks helps you with payroll preparation and gives you tax penalty protection.
- It offers payroll tax calculations that are error-free.
- You can have all your S-corps business finance information in just one place.
- You can manage and track bills and cash flows with it.
- It automates your online banking and invoice creation, and you can easily customize your estimates into invoices.
Why Do We Recommend QuickBooks as the Best Accounting Software for S-corps?
There are various reasons for our recommendation. However, our top reason is because of the S-corps specific features you get, which include payroll creation, taxation, tax penalty protection, etc.
What more? QuickBooks has one of the best customer support systems that is always cheerful in helping you sort out any technical or accounting issue that may relate to your S-corp.
Zoho Books
Zoho Books is online accounting software that is the next software to make our list of the best accounting for S-corps businesses. It is also one of the best accounting software for small businesses in general. It offers many features, including time management, faster payments, etc., to facilitate easy finance management and automate your business processes.
Zoho accounting software is famous for making collaboration among teams possible.
Pricing
Its pricing plans are;
The standard plan: $20 /month/organization.
Professional plan: $50/ month/organization
Premium plan: $70 / month/organization.
Zoho Books offers a 14 days free trial.
We recommend the standard plan for you as it is the best plan for a small S-corp. This plan has features and add-ons that best fit S-corps. However, if you want a larger group of collaboration, you can go for any of the two other plans. It is also a great value for your cash.
Features
- Zoho Books is also good for drawing up payroll tax reporting, which is one of the taxes that S-corps have to report on.
- With it, you can also track expenses, income, and time used on projects.
- It also facilitates faster online payments and tracks mileage.
- You can create custom estimates and invoices. You can turn your estimates into invoices with just one click.
- It offers numerous integrations such as Integrations with Microsoft office and outlook for better business management.
- It automates marketing and sales, among many other awesome features.
Why Do We Recommend Zoho Books as One of the Best Accounting Software for S-corps?
While Zoho books offer so many other features common in the accounting software industry, it is well known and excellent for optimizing collaboration between teams. It makes for efficient in-app team communication, project tracking, etc. Therefore, we recommend Zoho books as the best accounting software for S-corps for this reason.
Wave
Wave accounting is one of the best accounting software for S-corps that you will come across, and the good thing is that it is free.
This would be the right option for you if you are looking for cheap or free accounting software but also in need of quality performance. However, though it does not offer a lot of features like Xero or QuickBooks, Wave accounting software will cover most of the basic bookkeeping needs you will have as an S-corp.
Pricing
Wave accounting is free of no cost.
Features
- you can easily see how your S-corp business is performing with one look at your dashboard
- Wave facilitates faster online payments and bank reconciliation of all transactions.
- It tracks your S-corp’s business income, expenses, and payments.
- You can create, customize and send invoices and estimates with Wave.
- Resourceful customer support and articles are just at your call.
- It also facilitates payroll tax reporting for your S-corp business.
Why Do We Recommend Wave as One of the Best Accounting Software for S-corp?
We strongly recommend Wave accounting software is because of its free feature, which is good for S-corps with a small budget. It also has a set of features that will satiate the basic accounting, and business management needs you may have.
What’s more? There is a blog, help center, and community to help you with both technical and accounting issues you may have.
Freshbooks
Freshbooks is cloud-based accounting software, and from our research, it is the second-best option for S-corps in managing their finances, keeping track of time, income, expenses, and even tax and tax refunds, for which S-corps are well known.
It is also well known among S-corps for its awesome invoicing feature and the safety and security it offers to S-corps business data.
Pricing
Freshbooks pricing plans include the following;
Lite plan: $4.50/ month and $108/ year
Plus plan: $7.50/ month and $180/year.
Premium plan: $15/ month and $360/ year.
It also offers you 30 days of free trials.
We recommend its Lite plan for your S-corp as it is affordable, great value for your money, and also offers special functionalities and add-ons that suit S-corps.
Features
- Freshbook offers payroll assistance and payroll tax reporting capabilities. It also has some add-ons to give the best and payroll preparation as it suits your S-corp business.
- You can also track your revenue, expenses, and time.
- It incorporates double-entry features to give you the best analysis of your business.
- Its integration with online payment platforms makes your payments easier and faster.
- It lets you create custom estimates and invoices.
Why Do We Recommend Freshbooks as One of the Best Accounting Software for S-corps?
The major reason why we recommend Freshbooks is because of the top invoicing feature it offers S-corps. Though other accounting software offers invoicing creation and convertibility to S-corps, Freshbooks is top of the game at invoicing for you. You can simply create and customize invoices with Freshbooks, and you can also convert your estimates to invoices. You will love this feature!
Xero
From our research, the runner-up to Freshbooks as one of the best accounting software for S-corps businesses is Xero accounting. It offers so many tools and features to you, such as payroll management, tax accounting, etc.
It’s also well-loved and used among S-corps businesses for its flexibility to customization of these features and functionalities.
Pricing
Xero has three pricing plans which are;
The Starter plan: $20/ month.
The standard plan: $30/ month.
Premium plan: $40/ month.
For any of these plans, Xero gives you optional add-ons of Claim expenses and track projects for your S-corps priced at $4/month and $7/month, respectively.
Xero also offers a 30-day free trial.
We recommend the starter entry plan as it is a good option for your S-corp business, has good features that suit it, and are also a good value for your money.
Features
- You can easily create a sales quote with Xero.
- Xero also serves as an online filing system for S-corps, so you can use it too for this.
- Along with other features, it offers top-notch 24/7 customer support.
- Inclusive payment and payroll features are some of the most important features for S-corps.
- You can also track your business income and expenses.
- Easy bank reconciliation of all transactions that concern your S-corp business.
Why Do We Recommend Xero as One of the Best Accounting Software for S-corps?
If you need the best multi-feature accounting software to serve your S-corp business, Xero is the right option for you. From customer support, payroll tax calculation, and reporting to security to security and safety features for your S-corp business data and information, you will love Xero accounting software.
It also offers access to professional accountants willing to resolve any accounting issue your S-corp may have.
These are the main reasons why We recommend Xero accounting to you.
Sage 50
Sage 50 is one of the best accounting software S-corps has come to love, especially its high-end performance. It offers both cloud accounting and business management solutions and aims to make your business process hassle-free.
Over the years, Sage 50 has become a popular choice among smaller S-corp Businesses, mainly for offering them insights on how to grow their businesses.
Pricing
Sage 50 pricing plans include;
Pro accounting plan: $310/year.
Premium accounting plan: $510/ year
Quantum accounting plan: $842/ year.
The Pro accounting plan is the best choice for S-corps as it comes with features that are an S-corp best needs. Smaller S-corps have also grown with this plan. In addition, it is a great value for your money, and you get a 40% discount for the first year.
Features
- Sage 50 helps you keep track of your time and inventory.
- It also tracks your payments, income, expenses and facilitates bank reconciliation.
- For your S-corp business management, Safe 50 offers Integration with Microsoft office 365.
- It also offers scalability to smaller S-corps. Its pricing plans are highly flexible for you to move from one to another.
- It facilitates efficient payroll and tax accounting.
Why Do We Recommend Sage 50 Cloud as One of the Best Accounting Software for S-corps?
We strongly recommend Sage 50 cloud accounting as one of the best accounting software for S-corps because of its flexible pricing plans and the features it offers smaller S-corps businesses. It also offers you many free resources, blogs, access to a community, making others that will help you as a smaller S-corp business to grow.
Conclusion:
You’re a small business on a budget and you don’t have the money to hire a great accounting firm. There are thousands of accounting software options out there and it can be overwhelming trying to figure out the best option for your business. I know how challenging this could be especially if you are new to business management.