When using a computerized accounting system, the way you source accounting records is important. I love Microsoft Home and Small Business Accounting Software for Mac for this reason!
Home and small business accounting software in Mac is discussed in detail in this article. If you’re looking for general accounting software in Mac, I also have a comparison table for Freshbooks, Xero or Intuit QuickBooks Online Plus.
QuickBooks Online
QuickBooks Online is the best overall accounting software for small businesses of those reviewed. Not only do the majority of small business accounting professionals use QuickBooks Online, but there are also endless online training resources and forums to get support when needed. All accounting features can be conveniently accessed on one main dashboard, making bookkeeping more fluid and efficient.Pros
- Scalable
- Commonly used by accounting professionals
- Integration with third-party applications
- Cloud-based
- Mobile app
Cons
- Upgrade required for more users
- Occasional syncing problems with banks and credit cards
Intuit’s QuickBooks Online has been the most common accounting software used by small businesses and their bookkeeping and tax professionals. The software is cloud-based and can be accessed through a web browser or through the mobile app.
After the 30-day free trial, the four options for subscription plans include: Simple Start at $25 per month, Essentials at $40 per month, Plus at $70 per month, and Advanced at $150 per month. Typically there is a significant discount offered for the first few months, and some accountants are able to offer wholesale pricing to small businesses, as well.
The monthly subscription for this software can be upgraded as a business grows, and there are many customization options with the mobile app that can be used to receive payments, review reports, capture an image of a receipt, and track business mileage. For businesses looking for a payroll solution, QuickBooks Payroll fully integrates with QuickBooks Online.
Each plan offers more advanced features like inventory management, time tracking, additional users, and budgeting. Most service-based small businesses will find that Simple Start meets all of their needs. For product-based small businesses, Essentials or Plus will have more options for inventory and customizations. The Advanced subscription is a new offering and provides robust financial reporting that is powered by Fathom. Fathom is an elite online financial report analysis tool used by many large companies all over the world.
All plans allow integration with third-party apps such as Stripe or PayPal. QuickBooks Online’s app store breaks down all of their apps by function and provides helpful examples of the benefits of each app.
FreshBooks
The most crucial accounting need for most service-based businesses is invoicing. FreshBooks offers more customizations for invoicing compared to other accounting software. Its primary function is to send, receive, print, and pay invoices, but it can also take care of a business’ basic bookkeeping needs as well. This accounting software makes it easier for service-based businesses to send proposals and invoices, request deposits, collect client retainers, track time on projects, and receive payments.Pros
- Cloud-based
- User-friendly interface
- Third-party app integration
- Affordable
- Advanced invoicing features
Cons
- No inventory management
- No payroll service
- Mobile app has limitations
Founded in 2003 in Toronto, FreshBooks started as just an invoicing software. Over time, more features have been added and FreshBooks now has over 500 employees.2 There are four different plans, and businesses can get a 10% discount if they choose to pay yearly, rather than monthly. Additionally, FreshBooks offers a 60% off discount per month for six months. The four plans are: Lite at $6 per month, Plus at $10 per month, Premium at $20 per month, and Select, which is a custom service with custom pricing.
The main difference between the four plans is the number of different clients that are allowed to be billed per month. In the Lite plan, up to five clients can be billed per month. In the Plus plan, up to 50 clients can be billed per month. In the Premium plan, unlimited clients can be billed per month. The Select plan also does not have a limitation on the number of clients that can be billed per month, but adds unique features. It costs an additional $10 per month for multiple team members to use the accounting software and it costs an additional $20 per month for the advanced payment feature, which allows users to charge a credit card in real-time or set up a recurring credit card charge for a client.
There are many third-party app integrations available, such as Shopify, Gusto, Stripe, G Suite, and more. A unique feature of FreshBooks is that invoices can be highly stylized and customized for a professional look and feel. FreshBooks is a great tool for budgeting out projects, sending estimates or proposals, and collecting customer payments.
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.
OneUp
Pricing: Starts at $9/month
OneUp is another double-entry accounting solution. It syncs with your bank, categorizes bank entries, and validates suggested entries so your books are done quickly and accurately. All told, those elements amount to roughly 95% automation of your accounting.
Best for Businesses Focused on Inventory Management
OneUp might be best known for its inventory management capabilities. The program automatically adjusts your inventory levels as they shift and tells you when to reorder.
That’s not to say that the software’s other features aren’t impressive — but if you’re primarily in the market for an exceptional inventory management solution, check OneUp out.
Conclusion
Analyzing your business finances has never been easier thanks to the small businesses accounting software for Mac by the Ounce. There are many accounting programs on the market, but not all are created equal. After extensive research comparing all of the leading accounting software for Mac, Ounce is the best business accounting program for Mac users to best suit their needs.