Accounting software plays a major role in every small or large business. It helps you keep track of your financial transactions and also manage them. Today we’ll be highlighting some of the best tools available for small and medium-sized businesses, as they are in abundance in almost every country. Below is the list of the best free and paid tools:
Sage 50cloud Accounting
It is one of the best accounting software of its kind for small and medium businesses, let us have a glimpse of its attributes:
- It generates all invoices related to your financial transactions so that you can make and receive payments with ease.
- Saga helps you manage all your money flows, taxes, payments, etc. related to your products or services.
- It also acts to a great extent as a virtual HR and manages your small family of employees, workers or co-partners.
- Saga helps you in various ventures to make decisions for the future growth of your business.
- It is a paid tool.
- It is compatible only with the Microsoft platform.
- Link – sage.com/sage-50cloud
Another worthy and famous competitor accounting software for small businesses – “Zoho Books” is here. Let’s give us an overview:
- It creates all your commercial invoices for your small business.
- All of your customers who have purchased your product or service can view their transaction history in one place.
- It manages all your bills and payments.
- You can also integrate your bank account associated with your business here and then do your banking with ease.
- It allows you to keep an eye on all your current, pending and completed projects, as well as guides for your upcoming projects.
- It manages your GST, taxes, etc.
- You can make and receive payments online with ease.
- It is available in both free and paid variants.
- Link zoho.com/in/books
Fresh Books is one of the most popular account management software and you can try it for your small or medium business. Let me highlight some of its main features:
- The interface is quite simple and user-friendly.
- It has separate dedicated suites for four different categories of businesses, namely – ‘Independent Professionals’, ‘Businesses with Contractors’, ‘Freelancers’ and ‘Businesses with Employees’.
- It generates invoices, manages your expenses, keeps you up to date with all your ongoing projects, and much more.
- It prepares timely reports for your business.
- It is available for free for a 30-day trial period and thereafter you will need to purchase it.
- Platforms like – Windows, iOS, etc. are supported here.
- Link – Freshbooks.com
One of the top rated accounting software for accountants and bookkeepers and without wasting time let’s quickly review its features:
- It helps you to have an eye on all your upcoming expenses and bills.
- It manages all your costs and expenses and prepares an analysis of them.
- You can also manage your banking activities directly from this tool.
- It accepts and makes all necessary payments related to your business.
- It generates all your business related invoices.
- It manages your business tax.
- It is a paid tool.
- Multiple platforms are supported here.
- Link – xero.com
Intuit QuickBooks Online
One of the most reliable online accounting tools for a long time. Let’s organize your accounting data in the cloud, you can track sales, create and send invoices, etc. Let’s review some of its main features:
- Cloud computing allows you to access your account from anywhere and from any device.
- It generates all your business invoices.
- It also allows you to access and perform your business banking activities.
- You can access your business progress with timely reports.
- It manages your money, bills and payments.
- You get tips to further improve your business performance.
- It is free for a thirty-day trial period, after which you will need to purchase it.
- Link – QuickBooks
Wave is another trending accounting software that helps users give them a complete picture of the financial setup. It offers an interactive dashboard with trending tools to manage your small business accounting activities is here. Let us understand:
- The interface is simple and user-friendly.
- It does its best to make accounting activities as easy as possible for you and your business with technology and features that come with it.
- It manages all your payments, statements, invoices, business tax. etc
- It is a free tool.
- Link – waveapps.com
With a free plan, Sunrise gives startups a hand in managing their revenue and other financial expenses. However, they also offered paid plans preferred by many small entrepreneurs to freelancers. Let’s take a look at its attributes:
- It creates invoices for your business.
- It handles all your payments and bills and also supports multiple payment options.
- It prepares a sharp analysis of your entire business and you can view the report.
- It tracks all your expenses and income.
- It is available in both free and paid variants.
- Link – Sunrise App
Kasho is easy to use and simple accounting software for any small business. It also offers a free plan to send invoices, accept payments, send estimates, track revenue, and track customers. It can be a good bookkeeping tool for all of you, let me introduce you some of its features:
- It has separate suites for categories like – “Really Small Business Owners”, “Small Business Owners”, etc.
- Freelancers like freelancers, digital professionals and many more will find this tool very useful.
- It prepares all your business invoices in a timely manner for hassle-free payment transactions.
- You get the history of all your transactions in the database.
- It is available in paid and free variants.
- Link – kashoo.com
What is meant by accounting software?
Accounting software allows you to run your business smoothly by helping you in several ways such as preparing invoices, managing your bills and payments, guiding you in your projects, helping the business grow further financially, etc.
What are examples of accounting software for small businesses?
Fresh Books, Xero, Wave, Sunrise, etc. are some of the examples of accounting software for small businesses.
Are all the software mentioned above free?
No, some are paid while others are free, and some of them are hybrid type, both free and paid. In such Softwarein the free variant you get some of the common features along with some additional features while in the paid variant you get almost all the premium and unique features along with the basic functionality that the tool had to offer.
What is the best accounting software for my small business?
It varies from individual to individual and hopefully after going through this article you might have found an answer to this question.
Is it really necessary for me to have accounting software?
No, not really, but it definitely helps your business and saves you time. In return, you can increase your income and if you use this tool in the best possible way, you can get a huge increase in your income and profit.