We created this small business accounting software example to showcase our outstanding programs to prospective clients. With the ability to track time, create invoices and bill clients quickly and automatically, we’re sure that you’ll find our software easy-to-use and affordably priced. Our software is compatible with all major operating systems and is highly scalable, allowing it to grow with your business.
Why most small businesses now take software from a third-party provider. What best practices you must adopt while choosing business accounting software. Real examples of small businesses using different types of software to manage their financials. How to identify the best accounting software versions, what are the major small business accounting system vendors and how these six expenses should be handled in your accounting software by small business owners.
FreshBooks: Best for invoicing
Best mobile invoicing appFreshBooks
4.1
- Starting at $15.00/mo.
Mobile mileage tracking and receipt scanning
Fantastic mobile invoicing
Multiple users ($10.00/addt’l user/mo.)
Data as of 12/15/21. Offers and availability may vary by location and are subject to change.
App Store rating: 4.8 stars (10.1K reviews)3
Google Play rating: 4.4 stars (3.6K reviews)4
Are you a hard-working freelancer who needs to track project time, juggle expenses, and send accurate invoices to customers on the go? Then we can’t recommend FreshBooks’ cloud-based accounting software highly enough. For $15 a month, FreshBooks includes unlimited customizable invoices that sync easily with its time tracking features so you can bill your clients the right amount per project. FreshBooks also integrates estimates, which you can throw together on the app, pass along for client approval, and transform into an invoice as soon as the project is over.
The app seems to work just as well for Apple users as for Google users. And though it has fewer users overall than QuickBooks, it scores super high for both platforms. Users’ main complaints center on the app’s lack of features when compared to the desktop version—but FreshBooks is so fully featured that fewer mobile features still means a lot of mobile features. Plus, FreshBooks’ customer service team is very active on both review sites: if you have a problem, a customer service rep will usually pass along your complaint to a developer within a few hours.StrengthsUnlimited customizable invoicing
Affordable starting priceWeaknesses
Fewer features with app than with desktop
High price-per-user fee
FreeAgent
» Why You Should Buy This:
FreeAgent, the online accounting software, can centralize your entire accounting process. From expense management to invoices to sales tax to project management, everything gets streamlined, enabling your business to reach greater heights. With a user base of over 100,000 customers, FreeAgent makes for a reliable system that is simple to operate by even a first-time accounting software user.
The software is meant to easily connect to your bank accounts so that you can get automatic imports of all your transactions every single day. It also consists of a real-time view of your cash flow, taking the haste out of your money management and decisions. If that wasn’t all, it prepares you for the tax season with its crystal clear books of accounts.
» Who Is It For:
FreeAgent’s cloud accounting solution is designed keeping in mind the accounting requirements of small businesses. No matter which industry you are in, you can take advantage of this system’s impeccable accounting functions without any technical background.
Apart from that, the software also helps freelancers and self-employed professionals to align their books without running from pillar to post. If you have hired professional accountants to do the job for you, this software helps them glide through every process without the worries of accuracy.
» Why We Picked It:
We provided a spot to FreeAgent in our list after carefully going through its exhaustive yet user-friendly features. With this software, you will receive automatic updates from your bank accounts, letting you stay on top of every transaction at any given time. It also offers account status in real-time, along with live insights on cash flow.
One of the most striking features of this system is the ease with which you can handle invoices. It offers the set up of recurring invoices in addition to sending them automatically. There are automated reminders too, saving a lot of your energy. Its expense tracking can be customized as per your needs. Besides, you can have a quick overview of your project activities – from estimates and expenses to invoices and tasks – in a single place.
» Pricing Details:
FreeAgent is an affordable accounting software system for small businesses, available at $24 a month. The plan offers support assistance and access to all the features with zero set-up fees. You can also choose to try the software for free for 30 days and upgrade later.
» Pros and Cons:
Pros:
› Saves time with automated accounting functions
› Allows creating estimates quickly with its ready templates
› Simplifies tracking all your projects in terms of expenses, income, and profitability
› Provides the complete picture of your finances in an instant through its dynamic dashboard
› Takes the hassles out of the invoicing process
› Keeps your books clean for the tax time
› Facilitates better financial decisions
Cons:
› Not an ideal choice for a mid-size firm with complex accounting needs
» Reviews & Ratings:
The users of FreeAgent has a lot of good things to say about the solution. Whether it is simplified invoicing or tax compliance, it tends to relieve the stress that accompanies accounting operations. Check out the ratings this system has garnered on trusted platforms for software reviews:
» Capterra: 4.4/5 » G2crowd: 4.2/5 » GetApp: 4.4/5
» Conclusion:
FreeAgent is loved by freelancers and small businesses alike for its ease of use and thoughtful functions. Moreover, the solution is cloud-based, allowing remote access from wherever you are. That helps stay on the top of your accounting process, opening up opportunities for business growth.
OneUp
OneUp is the best small business accounting application you’ve probably never heard of. Ideal for sole proprietors and freelancers, with its robust inventory management module, OneUp is a great option for retail businesses.
OneUp is also suitable for growing businesses, with pricing based solely on number of users rather than features, with the Self plan, for a single user, including the same features as the Unlimited plan.
OneUp offers a good selection of features, including the option to connect your bank accounts or enter transactions manually.
Other features include the ability to process vendor and sales quotes, purchase orders, and credit memos, and the Opportunities feature lets you track and manage all potential sales directly to a product.
OneUp offers a terrific invoicing option, with the ability to request payment immediately.
OneUp does not offer the option to process checks for vendor payments, though you can pay your vendors electronically or enter payment information directly in the application. A mobile app is also available for both iOS and Android devices.
OneUp pricing starts at $9/month for the Self plan, and goes all the way up to $169/month for the Unlimited plan, with all plans including the same features, so you’ll only need to scale up if you add additional users, not to gain access to more powerful features. The biggest drawback to OneUp is the lack of a payroll option.
By far, the biggest benefit of using OneUp is having access to all of the application’s features and functions from day one, whichever plan you choose.
Conclusion
As you can see, there are quite a few small business accounting software examples available for you to choose from. Do your research so that you find the accounting software that is the best for your business and meets your needs. Be aware of cost and be sure to look into all the different features offered on each platform.