Having the chance to operate on online-based Accounting software offers the opportunity for it to be accessed anywhere, and anytime, considering the fact that your device is an internet-accessed type. This comes at a great cost which makes it very complex. This site has just picked the Top 10 Accounting Software which is an option for your business.
Accounting software describes a type of application software that records and processes accounting transactions within functional modules like; accounts payable, accounts receivable, general ledger, payroll, and trial balance. So read below and know more about Top 10 Accounting Software.
List of the Top 10 Accounting Software
Now, we’re going to look at the Top 10 Accounting Software based on what they tend to offer, in terms of their respective features and functions.
Zoho is suitable for running small businesses, and it assembles the lion’s share of financial tools needed by small businesses. Zoho Books provides more help resources than its rivals, which is critical for accounting solutions: Phone, email, chat, and online documentation are available.
- The supported features include invoices, expense-tracking, projects, and timesheets. Two features are associated with this accounting software (Standard and Professional).
- The Standard feature gives you higher limits on everything in Basic, and adds bills, vendor credits, and reporting tags features. Whereas the Professional offers unlimited contacts and users, and 10 automated workflows per module, in addition, to purchase orders, sales orders, and inventory tracking.
- Zoho Books 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.
- It equally supports collaboration to dissolve miscommunication between a company’s accounting and sales units, and equally offers mobile optimization and API for integration with other business apps.
Quickbooks offers a unique feature for automated tax-deductible expenses, which makes it be considered by some users as one of if not the best amongst the Top 10 Accounting Software. Retailers can benefit as they can access all items from a single solution, enabling them to track services, locate tasks, accommodate customer requests to change quantities, and create BOMs (bills of materials).
The first thing you see when you sign in is QuickBooks Online’s home page. This contains an overview of account balances, income and expense totals and charts, and tasks that need to be done. It equally contains links to related activities, such as invoice creation and account maintenance.
There are three versions of QuickBooks Online, all of which offer a 30-day free trial:
Simple Start: This version is designed specifically for micro-business. You can create and send invoices, track income and expenses, and equally connect to your bank accounts and add-on applications.
Essentials: This lets you track inventory and prepare 1099s for your contractors. The prices associated with this version doesn’t include payroll, which makes QuickBooks Online less affordable than Xero, and offers a robust version.
The software enables business owners and their advisors to access and manage real-time financial data anywhere, anytime, and on any device. It is designed for small business owners and helps them track and manage wages, revenues, receivables, payables, expenditures, and cash flow. You can also configure rules and customize them to fit your needs.
Considered as one of the youngest amongst Top 10 Accounting Software, it includes automatic bank and credit card account feeds which are automatically imported, invoicing, accounts payable, expense claims, fixed asset depreciation, purchase orders, and standard business and management reporting.
- The solution offers connections with more than 5,000 banks and other financial institutions across the world. This feature allows users to automatically import and categorize their latest PayPal, credit card, and banking transactions. It automatically reconciles all your bank transactions, which make it easy for you to manage and control your finances.
Another interesting benefit of Xero is that it includes payroll processing for up to 5 employees in their product offerings (up to 10 in premium edition). The benefit, of course, is that when your business grows to where you need to hire employees, there is no need to upgrade or any additional costs to pay. Learn more here.
If you’re looking for a complete, desktop-based small business accounting solution with a strong feature set and exceptional customizability, especially in terms of inventory management, Sage 50c is a good option. This is another quality accounting solution that is offered in multiple versions for the requirements of every business. It is a simple yet robust desktop accounting application which easily manages account payables and receivables, billing, and cash flow management.
Sage 50 owes its popularity to its simplicity and ease of use as it has eschewed needless bells and whistles that can be confusing for users. The app is well-structured, flexible, and fast, making it ideal for small accounting teams. When you launch Sage 50c, the app opens to the Business Status section. This gives you an in-depth overview of your company’s financial matters. For example, the many charts and tables illustrate the current state of your account balances and aged receivables. You can see the vendors that need to be paid and those that owe you money.
The Sage 50c family does just about everything a small business would need from an accounting program. If you need more than it offers, you should probably look into solutions that fall into the midrange accounting space, which cost a lot more money. Sage itself offers some more sophisticated applications.
Kashoo is a small business accounting service that has added many tools over the last few years, including Square integration, its own payment processor, new invoice templates, and the ability to attach files. The user interface has been revamped to display context-sensitive information where you need it, and to improve usability overall.
- Kashoo covers the basics, including a Chart of Accounts, record templates for customers and vendors and items, transaction forms for invoices and other income/bills and other expenses, and preformatted reports.
- You can connect to your financial institutions and download transactions, and then reconcile accounts.
- Through kashoo, you can also manage your company’s income and expenses and stay compliant with double-entry bookkeeping rules.
- Email, chat, and phone support are free and unlimited, and online documentation is good. An iOS app is available, too.
Kashoo makes all these activities easy by housing them in a clean, simple user interface with equally simple navigation tools.
Brightpearl is another excellent accounting amongst the Top 10 Accounting Software solution designed for small and medium-sized businesses. It is a leading accounting system designed for retail purposes. It is cloud-based and allows store managers to do accounting, and manage customer accounts and inventory from anywhere.
- An impressive feature is the central organizational hub that you can smoothly integrate with your shipping system, and from where you can manage payables/receivables for all your sales channels.
- Other features include batch processing, CRM, quoting, POS suite, order management, and sales-related functions.
- Brightpearl is mobile-optimized, offers a developers’ API for smooth integration with your other business apps, and offers premium customer support for all pricing packages.
NetSuite is essentially a customer relationship management (CRM) solution, but the platform can be used for sales force and marketing automation, as well as order management and customer support. It offers a load of tools and features to make financial management simple.
Standard features include:
- Pre-configured dashboards that can be customized by users for their specific needs.
- Another feature is that NetSuite ERP also offers robust automation.
- It can grow with your company and automate processes such as financial management, order management, revenue management, fixed assets, inventory management, and billing.
- Users can easily customize their view of key performance indicators and generate reports that are specific to their role in the company.
It’s an expense management app that should be part of any company’s accounting suite. It enables both employees to manage their budget and managers to track their staff’s expenses.
- One of the practical tools this app offers is the prepaid credit card that limits expenses to authorize spends. Likewise, purchases are automatically captured via the app and recorded in a centralized database.
- It’s easy for employees and managers to search for specific files like receipts, bills, tickets and other support documents. These files, by the way, can be scanned via your phone camera and attached/uploaded to the app via a cloud.
- Using the app makes everything transparent and expense liquidation much faster. Both employees and managers are freed from the time-consuming manual process of expense reporting.
- Other key features we like with this app include petty cash management, vendor payments and digital marketing spends.
Tipalti is a cloud payment automation and management software that helps simplify global mass payments. This makes the software suitable for companies with offices worldwide. amongst the other Top 10 Accounting Software, it is notably through Tipalti that you can be able to accept payment in more than 190 countries, use 120 currency options, and rely on 6 payment methods including PayPal, wire, local bank transfer, and debit card. Moreover, the software simplifies the daily task of ensuring the company’s financial data and processes are timely, accurate, and easy to understand.
- The software helps businesses to avoid late payments, noncompliance, and over-tasking the accounting team.
- It also has flexible payment reconciliation, AP, and financial reporting features that work with a myriad of payment gateways and ERP systems.
- With it, you can minimize, if not eliminate, downstream issues and human error, by letting suppliers input tax data directly into the Supplier Management portal.
- A Remittance Validation Engine, which monitors over 26,000 national and international standards, guarantees the integrity of supplier data.
IndustriusCFO is a suite of financial intelligence solutions, providing enterprises and organizations as well as professional business advisors with reliable, up-to-date financial information of privately held companies so they build and execute sound strategies to improve their weaknesses, work on their strengths, and drive business growth.
- The software enables professional advisors to compare and contrast the financial health of their clients’ with their peers and determine specific steps to make significant improvements to their clients’ financial status.
- For business owners, IndustriusCFO displays vital financial ratios in their respective industries and creates a roadmap for business improvement and growth based on their standards, indicators, and more.
- The software helps businesses make more and save more to put it simply.
Note: Considering the fact that this Top 10 Accounting Software is on board, but when choosing one of them, you would like to select a product that will track basic day to day business transactions, including the following:
- Invoicing customers
- Paying bills
- Importing bank and credit card transactions
- Creating reports and financial statements (e.g. Profit and Loss Statement, Balance Sheet, Statement of Cash Flows)
Be it as it may, hope you were served right? You can drop your comment below and equally share this page.