Every business owner knows the importance of financial management. Having an organizational system to manage transactions, tracking income and expenses, and generating financial reports are all essential to business operations.
To simplify the financial management process, many small business owners turn to accounting software. These programs are designed to help businesses manage their finances, run payroll, and more.
If you’re looking for small business accounting software, it’s important to do your research and carefully select the system that will be the best fit for your unique business needs.
Small Business Accounting Software Comparison: 5 Options to Consider
There are many options for small business accounting software on the market, each with different uses, features, pricing structures, and customer support options. Let’s take a look at five of the most popular accounting software choices for small businesses.
1. Intuit QuickBooks
Intuit QuickBooks is a cloud-based accounting platform built for small businesses and accountants. It has the ability to perform a wide range of small business accounting tasks, including running reports, organizing receipts, accepting payments, invoicing, tracking income and expenses, and managing contractors.
Key Features
Accounting
Inventory management
Invoicing
Mileage tracking
Payroll
Project management
Reporting
Price
QuickBooks starts at $30/month and offers a variety of additional plans at a higher cost. The software also offers a 30-day free trial for new users.
Customer Service
QuickBooks includes customer service via phone call, live chat, email support, community forums and training webinars with all plans.
2. Wave
Wave provides small business owners and freelancers with a user-friendly platform for essential financial tasks such as accounting, invoicing, expense tracking, financial reporting, and payroll. This comprehensive accounting software has an expansive plan designed to be easy to use, all while offering these features for free.
Key Features
Accounting
Invoicing
Expense Tracking
Payroll
Reporting
Price
Wave offers a free version of its accounting software for small businesses, as well as paid plans with extra features and abilities.
Customer Service
Free Wave plans do not come with phone support. Live chat with customer service representatives is available as a paid add-on. Wave offers customer service primarily through its knowledge base, email support, and community forums, providing users with resources and a platform for seeking assistance and answers to their accounting and software-related inquiries.
3. Freshbooks
FreshBooks is accounting software built for small business owners without an accounting background. It is easy to use and offers features like expense tracking, project management, invoicing, report generation, and more. Additionally, it offers numerous automations so users can configure the software to fit their needs. FreshBooks is ideal for small businesses and self-employed professionals.
Key Features
Accounting
Expense tracking
Invoicing
Project management
Time tracking
Unlimited estimates
Price
FreshBooks offers a 30-day free trial for new users. Plans start at $17/month for up to five clients. There is an additional option to design a custom plan with flexible pricing.
Customer Service
FreshBooks’s highly rated customer support is available for all customers. Offerings include phone and email support, as well as a documented knowledge base, live webinars, and an active online community.
4. Xero
Xero is a cloud-based accounting software built to be both flexible and scalable. It offers a wide range of tools small businesses can use to manage their finances, including payroll, reporting, accounting, invoicing, and project and inventory management. Xero’s user interface is also easier to use than many other robust accounting software programs.
Key Features
Accounting
Bank reconciliations
Bill and receipt capturing
Inventory management
Invoicing
Payroll
Project management
Reporting
Price
Xero has a free 30-day trial for new customers. Plans start at $13/month, with several options to upgrade as your small business continues to grow.
Customer Service
Xero offers 24/7 online support for all customers, a comprehensive help center with articles and tutorials, and a global network of certified advisors, ensuring users have access to expert guidance and resources whenever they need assistance with their accounting needs.
5. Zoho Books
Zoho Books is a comprehensive online accounting software with versatile capabilities including invoicing, accounting, expense tracking, and report generating. It also offers extensive integration options that small business owners can use to connect the software to their bank account, e-commerce platform, and more to access real-time financial and accounting data.
Key Features
Accounting
Expense tracking
Invoicing
Mileage tracking
Offline and online payments
Payroll
Project management
Price
Small businesses with less than $50,000/year in revenue can use Zoho’s free plan. Paid plans start at $15/month.
Customer Service
Free plan users can access email support. Paid plans provide customer support via email, voice, and chat.
How to Choose the Best Accounting Software for Your Small Business
Selecting the right accounting software for your small business can be tricky. Begin your search by answering these questions:
What type of accounting software are you looking for (cloud-based, on-premises, open source, etc.)?
What features do you need your accounting software to provide?
What is your budget?
How much business growth do you expect to see in the coming years?
The answers to these questions will help you narrow down your options.
Contact Fisher, P.A. for Business Accounting Services
Whether your small business uses accounting software or sticks to traditional paper and pen, we’re here to help.
At Fisher, P.A., our team of experienced accounting professionals is ready to answer your questions, walk you through our small business accounting services, and show you how to grow your company.
Our skilled team is ready to get to work so you can get back to doing what you do best: running your business. Call us at 704.332.7800 or fill out our contact form today to schedule a consultation.
Accounting Software Comparison: The Best Accounting Software for Small Businesses in 2023
Every business owner knows the importance of financial management. Having an organizational system to manage transactions, tracking income and expenses, and generating financial reports are all essential to business operations.
To simplify the financial management process, many small business owners turn to accounting software. These programs are designed to help businesses manage their finances, run payroll, and more.
If you’re looking for small business accounting software, it’s important to do your research and carefully select the system that will be the best fit for your unique business needs.
Small Business Accounting Software Comparison: 5 Options to Consider
There are many options for small business accounting software on the market, each with different uses, features, pricing structures, and customer support options. Let’s take a look at five of the most popular accounting software choices for small businesses.
1. Intuit QuickBooks
Intuit QuickBooks is a cloud-based accounting platform built for small businesses and accountants. It has the ability to perform a wide range of small business accounting tasks, including running reports, organizing receipts, accepting payments, invoicing, tracking income and expenses, and managing contractors.
Key Features
Price
QuickBooks starts at $30/month and offers a variety of additional plans at a higher cost. The software also offers a 30-day free trial for new users.
Customer Service
QuickBooks includes customer service via phone call, live chat, email support, community forums and training webinars with all plans.
2. Wave
Wave provides small business owners and freelancers with a user-friendly platform for essential financial tasks such as accounting, invoicing, expense tracking, financial reporting, and payroll. This comprehensive accounting software has an expansive plan designed to be easy to use, all while offering these features for free.
Key Features
Price
Wave offers a free version of its accounting software for small businesses, as well as paid plans with extra features and abilities.
Customer Service
Free Wave plans do not come with phone support. Live chat with customer service representatives is available as a paid add-on. Wave offers customer service primarily through its knowledge base, email support, and community forums, providing users with resources and a platform for seeking assistance and answers to their accounting and software-related inquiries.
3. Freshbooks
FreshBooks is accounting software built for small business owners without an accounting background. It is easy to use and offers features like expense tracking, project management, invoicing, report generation, and more. Additionally, it offers numerous automations so users can configure the software to fit their needs. FreshBooks is ideal for small businesses and self-employed professionals.
Key Features
Price
FreshBooks offers a 30-day free trial for new users. Plans start at $17/month for up to five clients. There is an additional option to design a custom plan with flexible pricing.
Customer Service
FreshBooks’s highly rated customer support is available for all customers. Offerings include phone and email support, as well as a documented knowledge base, live webinars, and an active online community.
4. Xero
Xero is a cloud-based accounting software built to be both flexible and scalable. It offers a wide range of tools small businesses can use to manage their finances, including payroll, reporting, accounting, invoicing, and project and inventory management. Xero’s user interface is also easier to use than many other robust accounting software programs.
Key Features
Price
Xero has a free 30-day trial for new customers. Plans start at $13/month, with several options to upgrade as your small business continues to grow.
Customer Service
Xero offers 24/7 online support for all customers, a comprehensive help center with articles and tutorials, and a global network of certified advisors, ensuring users have access to expert guidance and resources whenever they need assistance with their accounting needs.
5. Zoho Books
Zoho Books is a comprehensive online accounting software with versatile capabilities including invoicing, accounting, expense tracking, and report generating. It also offers extensive integration options that small business owners can use to connect the software to their bank account, e-commerce platform, and more to access real-time financial and accounting data.
Key Features
Price
Small businesses with less than $50,000/year in revenue can use Zoho’s free plan. Paid plans start at $15/month.
Customer Service
Free plan users can access email support. Paid plans provide customer support via email, voice, and chat.
How to Choose the Best Accounting Software for Your Small Business
Selecting the right accounting software for your small business can be tricky. Begin your search by answering these questions:
The answers to these questions will help you narrow down your options.
Contact Fisher, P.A. for Business Accounting Services
Whether your small business uses accounting software or sticks to traditional paper and pen, we’re here to help.
At Fisher, P.A., our team of experienced accounting professionals is ready to answer your questions, walk you through our small business accounting services, and show you how to grow your company.
Our skilled team is ready to get to work so you can get back to doing what you do best: running your business. Call us at 704.332.7800 or fill out our contact form today to schedule a consultation.
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