Why pay for small business accounting software in Canada when you can get it free? Free accounting software is a great tool for any small business. Running a small business means there are lots of things to look after, and keeping on top of the finances is one of the most important. You need to know exactly where your money goes and what you’re paying out on. Microsoft Excel can be used as a free accounting software program but it’s limited, and doesn’t offer a lot of options or security. If you want more options, better security and convenience, then buying small business accounting software in Canada may be the answer.
A business’s accounting department can generate a great deal of work for the company. With some simple quotes, you can save money and buy Microsoft Small Business Accounting Software in Canada. This article will help you in your search for a reputable small business accounting software in Canada.
Intuit QuickBooks Online
QuickBooks is one of the most comprehensive accounting software packages on the market, so it’s no surprise that it ranks #1 on our list. It has numerous features that make it an excellent choice for both small and large business operations.
Developed by Intuit, a leading Canadian software company specializing in financial software, QuickBooks Online is a cloud-based accounting system you can access through a mobile app or web browser.
Small business owners and accounting professionals commonly use this software because of its fluid and efficient accounting features. In addition, you can conveniently access all of its featured accounting tools in one central dashboard.
Quickbooks offers a 30-day free trial and three subscription options. They are as follows:
- EasyStart at $20 per month
- Essentials at $40 per month
- Plus, at $60 per month
Most of our clients use Quickbooks online Essential package.
Pros:
- QuickBooks is the most comprehensive accounting package available.
- It has a user-friendly interface that’s great for novice users.
- Allows you to track job expenses efficiently.
- Accept payments online (Visa, Mastercard, ApplePay, Discover)
- Best payroll features (Direct deposits, Automated tax filing, Employee portal)
Cons:
- The software is a bit pricey compared to other options on the market.
- The payroll addon is extra $20/mo +$3/employee/mo
- After subscription cancellation, you can access your records only for a year
Wave Accounting
Wave is an invoicing and accounting software founded in 2009 in Toronto, Canada. They offer small businesses free accounting and invoicing services. Wave Accounting is one of the most affordable accounting software out there, and it comes with numerous features that make it a competitive option for small businesses. It offers a user-friendly interface and is simple to use with just a few simple clicks.
It’s easy to set up, and even employees with no prior accounting experience can learn and manage it. Wave accounting helps you to charge your clients online and process Mastercard/Visa/American Express payments. However, they charge a small fee per transaction. In addition, growing companies with employees have to pay for the Payroll package, which is an extra addon.
Pros:
- Wave Accounting is free software.
- Perfect for small businesses with no employees
- It’s easy to set up and use, which means less frustration if you’re new to an accounting software package.
- It’s very user-friendly and has several helpful features like report templates, reminders, and invoicing options.
Cons:
- Payroll is a paid addon.
- Credit card processing fees.
- No time tracking option
- Lacks inventory management
Sage Business Cloud Accounting
If you’re looking for a solution that’s simple to set up and use, then Sage Business Cloud Accounting might be the right choice for you. The software comes with two options: desktop with cloud storage and online software. It makes it ideal for accounting professionals who regularly travel and do not always have internet access, and they can access their data without an internet connection. The software has a standard set of accounting features, such as invoicing, payroll, payments. Furthermore, it integrates with the Microsoft 365 platform, so if you are already using Microsoft 365, you may get extra benefits from choosing Sage 50cloud Accounting.
Because this accounting software has all the capabilities of QuickBooks Online, but for the half price, it might be worth checking out as well.
Pros:
- A cloud-based system makes setup easy with no installation required.
- Sage Business Cloud Accounting is user-friendly and allows you to create invoices and invoice customers quickly.
- You get 24/7 support from Sage.
- College students who study business accounting learn Sage, so find an accountant with Sage Accounting experience would be easy.
- It is a more affordable option comparing to Quickbooks.
Cons:
- It may be a little more complicated to use and less intuitive
- You may spend more time learning this software comparing with other options.
Zoho Books
Any member of the Zoho family is a good product, and you rely on the company’s productivity suite to streamline your business. Their accounting software Zoho Books is also of top quality, which is why it got a high ranking on our list.
Why is Zoho Books in our list of best accounting software? The reason is this award-winning solution offers great value for money. It easily automates bank feeds, sends payment reminders automatically, and makes it easy to send and track retainer invoices. The system is unique as it integrates with Stripe and makes it simple to do payment reconciliation.
You can use all the features for free for a period of time to see if the software matches your needs.
Try out Zoho Books with their free trialVISIT WEBSITEFREE TRIAL
Zoho Books is similar to Freshbooks in the manner it supports collaboration to dissolve miscommunication between a company’s accounting and sales units. Similar to Freshbooks, Zoho Books also offers mobile optimization and API for integration with other business apps. You can also make use of premade integrations with other Zoho products. It also enhanced its features like invoice templates and custom domain and added new features like recurring journals and bulk payments received and project deletion.
SignRequest
SignRequest is an e-signature solution that makes contract management easier. The platform allows users to affix legally binding digital signatures to documents, speeding up approval processes, and helping boost sales for your business.
With SignRequest, you stay in control of contracts and agreements. This makes transactions more transparent and the auditing process more convenient. This is particularly useful for highly regulated sectors and industries.
The vendor offers a comprehensive free trial to get you up to speed with the features.
Try out SignRequest with their free trialVISIT WEBSITEFREE TRIAL
In addition, SignRequest is built for flexibility. It can support 13 languages and provides extensive customization options for templates. Moreover, the platform comes equipped with API capabilities so you can easily connect it with a number of third-party integrations.
BigTime
BigTime is a professional services automation software with invoicing, payment processing, and financial reporting components. Through BigTime, professional services organizations can bill clients faster, track time and expenses for their projects, and get insights into performance and financials in one easy-to-use cloud-based platform.
BigTime is specially designed for accounting companies, consulting businesses, law firms, IT services, government contracting, architecture firms and engineering companies, and marketing and creative services. Project staff can use the software to accurately capture their time and expenses while accounting staff and managerial employees can use it to invoice clients and oversee the financial standing of their business.
One of the biggest benefits for clients in using BigTime is having one integrated system that hosts their time and expense tracking and invoicing. With such a set-up, the workflow for approving timesheets and converting them into an invoice runs much smoother than having it under two separate systems. Moreover, BigTime Wallet lets clients pay conveniently straight from the email invoice, making payment processing simple, secure, and hassle-free. Customers can choose from three BigTime plans: Express, Pro, and Premiere.
Kashoo
Another top option for small businesses, Kashoo can be used to:
- Create branded invoices and quickly send them to your clients to get paid on time
- Track and store all of your business expenses – just snap a quick photo of your receipts, upload it to Kashoo and it will be filed in the right expense account
- Accept online credit card payments, or connect your BluePay, Strips, or Square account
- Track expenses from your bank and receipts, even in multiple currencies
- Reporting features for P&L, receivables and payables
- See exactly what the state of your business is at a glance, on the main dashboard
ClearBooks
ClearBooks in an HMRC-approved online accounting software for small businesses. Among its top features, you can:
- Create and send beautiful professional invoices to your clients, and set recurring invoices to save time
- Set up automatic payment reminders
- Generate, store, and submit your VAT returns more easily. Additionally, they also let you compare your VAT scheme to the Flat Rate scheme, in an effort to help you save money
- Connect your bank account to keep track of all bank statements and transactions
- Professional reporting for P&L, balance sheet, audit logs, and trial balance
- Pay dividends if your business has any shareholders
- Keep track of your business assets with the Fixed Assets tool
Conclusion
Start your own Small Business using Canada’s best small business accounting software for your accounting needs. This accounting software supports cash-based, accrual-based, or combination methods of recording transactions. Canadian best software will help you keep track of inventory, manage employees, payroll, and produce financial statements easily.