What is the best accounting software for medium-sized businesses? Or the best quickbooks for medium sized business? There are a lot of questions out there about computers and software, but one of the biggest ones is which is the best accounting software.
So, what is the best accounting software for medium sized businesses? This question comes up quite often on different business forums. The answer usually depends on factors like the number of employees in the company, job functions or departments in the company etc. There are many business management software systems designed to cater to medium-sized businesses.
Oracle NetSuite
Best overall accounting software for medium sized businesses. Oracle NetSuite is an enterprise resource planning (ERP) platform designed for businesses that are medium sized and/or growing rapidly. Providing a comprehensive and scalable approach to resource planning, NetSuite is more than accounting software as it provides medium sized businesses with financial, revenue, fixed asset, inventory management, and much more. Integrated financials, client relationship management, and e-commerce functionality make it the #1 cloud-based ERP.
Sage Intacct
Gain real-time financial and operational visibility throughout your business. Leverage comprehensive financial controls to ensure security and compliance. Streamline your business processes using extensive automation to reduces labor, and save costs. The Sage Intacct system includes accounting, cash management, purchasing, vendor management, financial consolidation, revenue recognition, subscription billing, contract management, project accounting, fund accounting, inventory management, and financial reporting applications, all delivered through the cloud.
FreshBooks
FreshBooks is a fast and robust accounting solution that can make complex financial management more enjoyable without compromising accuracy and compliance. This means that tasks such as the creation of professional-looking invoices can be done even without prior accounting experience since it’s only a few clicks away. There are online payment features as well that will help you and your team get paid faster. Moreover, its seamless integration with a series of external applications means that you can enjoy not only the system’s core functionalities but the extended ones as well.
Why is FreshBooks suitable for medium-sized businesses?
It has a host of accounting functions. FreshBooks is equipped with more than enough accounting functions for mid-sized businesses. This includes time tracking, billing history, invoice-to-payment, automated billing, and reporting capabilities.
Its pricing plan is SMB-friendly. One look at its pricing scheme and it’s quite obvious that FreshBooks targets small and mid-sized businesses. Packages offered are flexible, full-featured, and only differ in the number of clients. Plus, they have a 30-day free trial that will allow you to thoroughly test the system’s compatibility with your business.
It offers rich integration support. FreshBooks can integrate with a myriad of third-party solutions for a more streamlined workflow. This includes payment solutions, CRM systems, and live chat applications. This lessens the chance of needing to switch to other solutions that the system can work well with.
It’s available on mobile. The system’s mobile app for iOS and Android will ensure that you can do your finance-related activities even on the go. This means that even if you’re away, you can still communicate with your clients or personnel, be on the loop of important things, manage expenses, and more.
It’s easy to deploy and rebrand. The system won’t demand a dedicated IT team to be set up properly as it’s an easy-to-deploy solution that even freelancers can handle. It also allows you to modify various aspects of its design including the colors and logos so that the app could truly reflect your brand.
How much does FreshBooks cost?
FreshBooks is available in three pricing schemes that start at $15 per month. Each plan provides an identical range of functionalities with the main difference being the number of active clients to bill. There’s a free trial included as well.
SAP Business One
Increase control over your small business with software designed to grow with you. Streamline key processes, gain greater insight into your business, and make decisions based on real-time information – so you can drive profitable growth. Lower the cost of managing your business, from financials, purchasing, inventory, sales, and customer relationships to project management, operations, and HR. Gain clear visibility and complete control over every aspect of your small business. Capture critical information for immediate access and use it company-wide. Secure the achievement of big dreams and big goals. Get a single view of your business in an instant with a flexible, modular, powerful, and simple interface.
QuickBooks Online
QuickBooks Online is a cloud-based accounting solution created for small businesses, independent firms, and freelancers. By combining all essential accounting tools in a single platform, this application helps small businesses simplify tedious and time-consuming accounting and financial management routines, thus saving more time to prioritize more urgent tasks. Its features include automated data collection, tax calculations, invoice management, expense tracking, balance sheet reporting, sales monitoring, bill management, and more. Quickbooks Online is also available in multiple devices, which allows for more mobility.
Why is QuickBooks Online suitable for medium-sized businesses?
All-in-one platform. QuickBooks Online is designed to offer all essential accounting tools in a single platform, including profit and loss reporting, invoice customization, bill payments, and more.
Automated data collection. This accounting solution allows you to automate your data collection process, which ensures that your financial information is always up to date.
Auto-sync with your devices. QuickBooks Online supports multiple devices and is equipped with automatic data synchronization capabilities, which allows you to access your accounting and finance related data, tasks, reports, and more from your preferred device.
Customized reporting. This application allows you to generate reports based on your preferred data visualizations in order to make it easier for you to get insights into your financial data.
Enhanced data protection. With QuickBooks Online, all confidential data that enters your accounting system on a daily basis will be protected by your choice of intuitive data security feature.
How much does QuickBooks Online cost?
Built for small businesses, QuickBooks Online offers affordable pricing plans, which starts at $10.00/month.
FinancialForce. Best accounting software for medium sized businesses using Salesforce. Medium sized to larger global entities using Salesforce—or considering Salesforce—will want to also consider FinancialForce for their accounting software needs. FinancialForce and Salesforce together are a total ERP system. Businesses looking to grow quickly will appreciate Financial Force’s fast scalability. FinancialForce provides all the accounting and business management functions a company could want. It’s a highly customizable and powerful option.
Acumatica
Acumatica Cloud ERP provides the best business management solution for digitally resilient companies. Built for mobile and telework scenarios and easily integrated with the collaboration tools of your choice. Acumatica delivers flexibility, efficiency, and continuity of operations to growing small and mid-market organizations. Connected business. Delivered. Rapid integrations. Delivered. Remote collaboration. Delivered. Business resilience. Delivered. Future proof. Delivered.
Tipalti
Tipalti is a unified, cloud-based payment automation and management software that challenges the way how money flows for businesses, from onboarding to tax and regulatory compliance requirements. Tipalti helps businesses stay ahead of their game in strategy by streamlining back-office operations. It offers tools for forecasting, cash flow analysis, business productivity, and growing its ventures down the line.
By streamlining the entire AP process, earlier payments are secured and you hit revenue targets more efficiently. Tipalti also has built-in global compliance and regulatory requirements. With integrated audit logs and workflow approvals, you lessen the risk of financial decline, putting your business in a favorable position. The solution gives nuanced reports of payouts and transactions through its integrated ERP system, synchronizing payment procedures, currencies, locations, and other variables. Other than its powerful integrations, the product also offers a comprehensive suite of tools for accounts payable, process enhancement, automation, and risk management.
Why is Tipalti suitable for medium-sized businesses?
Streamlined workflows. Tipalti features a comprehensive suite of tools for streamlining the entire AP process. As such, it helps streamline more than 50% of all manual, global, and mass payment transactions in more than 190 countries. With such powerful AP tools at your disposal, you can cut 80% of the manual grunt work.
Maximum scalability. Regardless of your business size, you can effortlessly scale your AP operations with Tipalti. You no longer waste more resources rebuilding another wheel as Tipalti adapts to your requirements as your business thrives – in the number of customers, your human resources, the bulk of payment procedures, expansion, and other factors.
Maximum revenue generation. By streamlining the entire AP process, you are able to increase revenue margins by facilitating earlier payment transactions. Tipalti has a vast, reliable partner base that can help your business facilitate earlier payments to your suppliers. Your supplier gains better cash flow, and so do you. Everyone leverages this opportunity to generate more growth.
Mitigated risks. Tipalti has built-in audit logs and regulatory and financial compliance requirements embedded in its operations. You get access to a wide array of tools for mitigating financial risks, including digitized tax form collections, updated database of global financial and regulatory requirements, TIN matching, workflow approvals, audit logs, and more. Tipalti has your best interest in mind to ensure that your business does not suffer from heavy losses from risks.
How much does Tipalti cost?
Tipalti services its tools on a quote-based plan. Contact the vendor directly for custom pricing.
Conclusion:
Medium sized business is the backbone of your country’s economy. Usually, medium-sized businesses are engaged into active competition in the market and engaged into building customer base to become diversified or for conquering new markets. Many medium-sized businesses are able to generate hundreds of millions of dollars in revenue each year, while some other still struggle to survive.