Drawing attention to the usefulness of small business accounting software is not complicated to do. If you build websites, you’re going to need a good way to track and invoice your clients. At one point or another, we’ve all had to take a client whose information we entered into our accounting software and then spend the next week trying to figure out why we didn’t charge them — or worse — just not pay them at all.
Small business accounting software. Good news, there are tons of great small business accounting software available on the net! However, finding a fabulous online software solution is not always an easy task. Even more challenging, finding a reputable small business accounted software vendor can be a challenge. That’s why I decided to collaborate with experts and experts alike to create this article that lists all the best small business accounting solutions available on the net for your searching.
Wave Accounting
| Best for | Free cloud accounting software |
| Products | Accounting software Invoice receipt |
| Address | 235 Carlaw Ave Suite 501, Toronto, ON M4M 2S1, Canada |
| Contact Details | support@waveapps.com |
| Prices | Accounting software: free Receipt scanning: free |
Looking for simple and organised accounting software? If yes, then you might want to try Wave.
You may find it hard to believe, but you won’t have to pay anything to use their products. Both accounting and receipt scanning software are free of charge.
With a smart dashboard, you can conveniently view your income, expenses, invoices, payments, and cash flow. These will also make setting up your tax return a breeze.
Even though Wave is free to use, the bank feed (data transferred between the bank and the software) and your business information are secure and treated with confidentiality.
Pros
- Simple and organised reports
- No monthly and establishment fees
- Secured bank information
Cons
- Suitable only for small companies
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.
Kashoo: Easiest setup
- Starting at $20.00/mo.
Above-average starting price
Additional user options
Income, expense, and sales tax tracking
Data as of 11/5/21. Offers and availability may vary by location and are subject to change.
Got a minute to spare? You can set up Kashoo in 60 or so seconds, and the app immediately starts to categorize your expenses and learn your business spending habits. Like Zoho Books, Kashoo’s automation is its selling point—and unlike Zoho Books, it syncs with SurePayroll, one of our top payroll providers. However, Kashoo’s simplicity makes it ill-suited to larger businesses that need more features and functions than Kashoo’s straightforward software can provide.
If you’re looking for a cheaper solution, Kashoo offers an invoice-only plan for $0.00. It’s also in the process of developing payment-only and expense-only plans for the smallest of small businesses.
Reckon
| Best for | Value for money |
| Products | Small-business accounting software Large-business accounting software |
| Address | Level 2, ITC Building, 9 City Road, Auckland, New Zealand |
| Contact Details | 0800 447 292 Subscription and Advantage members: 0800 933 666 sales@reckon.co.nz |
| Office Hours | Customer Service Monday – Friday: 9.00 AM – 5.00 PM Saturday & Sunday: closed Technical Support Monday – Friday: 8.30 AM – 7.00 PM Saturday & Sunday: closed |
| Prices | The Basics: $8/month Essentials: $20/month Essentials + Expenses: $26/month Premium: $32/month |
No matter what size of business you have, Reckon can simplify your bookkeeping and transactions in order to provide a satisfying experience to your customers.
Starting from just $8 a month, you get real-time information presented neatly in your dashboard. That way, you won’t have to record your company finances manually every day.
The upside to Reckon is that they have optional services you can add only if needed. In other words, you won’t need to pay ‘by the bulk’ with services that you won’t use.
You can incorporate POS software for $29 per month to add discounts for the buyer, and/or invoicing function for just $4 a month to track overdue and paid invoices.
As opposed to Xero’s $75-per-month premium plan, Reckon’s premium pack only costs $32 per month, bringing you serious value for money.
Pros
- Value for money
- Secured data storage
- Responsive customer service
Cons
- Limited bank transactions
Customer Reviews
On Trustpilot, lots of people praised the fabulous customer service and user-friendly software of Reckon.
Nicky from Landscaper wrote this feedback:
“Brilliant – I have used Reckon for over 5 years. I am thrilled with the value for money and the excellent service. Love this product, it has everything I need.”
Also, let’s hear Rachel’s review:
“Every time I call for an assistance, I get answers to what I have asked. Always have very helpful person on the other end. Very user friendly software for me and the Reckon community is great, people are friendly and very helpful. You should thank all of them.
We use the personal reckon at home too, great product.”
Conclusion
The world of online accounting software is a crowded one. In the search for the best accounting software for small business, you end up with a choice that is much more between different flavors of vanilla ice cream rather than brownies or an actual variety of shortbreads.