Accounting software involves summarizing, investigating, and reporting all dealings which are related to a business whether it is large or small. Accounting software plays an important role in finding necessary functions for every business to understand their incomes and losses, tax accountabilities, etc. These are the most commonly used accounting software.
FreshBooks
FreshBooks is the most popular accounting software in the market. It manages all your accounting activities like billing, time tracking, making expenses, etc. It is a fast software which is secure and can be used easily.
Key Features:
Invoicing
By using your emails you can create your own invoicing
Track Your Time
This software can track the exact time which you spent on activities such as attracting customers, concluding a project, etc.
This software can be used easily
Project Management
It provides full project management features
Advantages:
- It is easy to understand.
- Cloud-based software, that’s why it is not expensive.
- It has customer support by using phone, email, live chats, and ticket
- Allows outstanding customization
- It is easy-to-navigate
Disadvantages:
- On-premise deployment not possible
- Doesn’t have a free plan
- The metrics, goal-setting, and reporting features need improvement
Pricing:
FreshBooks has four plans. The first three plans have $6, $10, and $20 prices per month.
Accounting Seed
Accounting Seed is a customizable software that helps you take care of all accounting-related features of your business. It is a flexible software that can be used easily and it also provides a good environment that qualifies you to make good decisions to improve your business.
Key Features:
Financial reporting
Cost-Effective
Flexibility
Calculation of quarterly taxes
Invoice and estimate
Track mileage and time
Advantages
- This is a User-friendly software
- Easily embed purchase orders with sales orders and accounts payable
- It is easy to set up
- Creates bank settlement statements very easily
- It has Powerful automation features
- It is highly configurable and customizable
Disadvantages :
- Project tracking not available
- Lacks bill payment feature
Wave
Wave is a complete and united software that can provide a complete and all-in-one solution to all your accounting requirements. It is perfect or the best software for small businesses. It is also free of cost.
Key Features:
Accounting
This software provides all your accounting needs like tracking costs and income.
Receipts
By using this software you can receive and read receipts and tasks on any device. Even if you are offline you can scan your receipts
Advantages:
- It is completely free and has no charges
- It is a friendly software for mobile devices
- User-friendly
- There is no need for installation this software can be used with a browser and an internet connection
Disadvantage:
- In this software, some features are not available like time tracking and audit history.
Pricing:
A wave is accounting software that is completely free of cost.
QuickBooks Online
Intuit QuickBooks Online is one of the newest accounting software for small businesses and offers both cloud-based and on-premise versions.
Key Features:
Invoicing
Accounting reports
Cash flow management
Expense tracking
Inventory management
Advantages:
- It offers a 30-day free trial period
- This software has both on-premise and cloud-based deployment
- 24/7 access to accountants from any device
- It allows efficient, real-time teamwork between different team
Disadvantages:
- It doesn’t offer a free plan
- It supports only English
- The main disadvantages are in this Customer support isn’t available during weekends
Pricing:
This software has five plans, starting from $4 a month and ranging up to $45 per month.
Xero
Xero is the new accounting software. It provides you with all the accounting tools which are required to grow your small business.
Key Features:
Asset management
Project management
Inventory management
Advantages:
- For 30-day there is a free trial period
- It is Friendly with mobile devices
- It also useful for saving time by setting up frequent bills
- By using this software you get a real-time vision of your cash flow from any device to another
Disadvantages:
- This software doesn’t have any free plan
- A large number of dealings are the reason due to which it slows down
Pricing:
The price of this accounting software starts from $20 per month and ranges up to $40 per month. And there is a free trial period of 30-day.
Tipalti
Tipalti is an accounting software platform that provides end-to-end solutions to automate the entire supplier payments operation.
Key Features:
Supplier management
Invoice management
Tax Tipalti Detect feature
Advantages:
- It is cloud-based software, therefore easy to set up and un expansive
- It Provides an end-to-end AP
- Provides 24/7 online access and cloud accounting
- It is User-friendly software
Disadvantages:
- This software doesn’t provide a free plan
- It can be difficult to use
Pricing:
It has three pricing plans, which start from $299 per month and ranging up to $1599 per month.
OneUp
One Up is unique accounting software that offers a load of unique structures in addition to accounting such as CRMs, and linking bank accounts, and bank resolution.
Features:
Invoicing
Accounting
Inventory
CRM
Disadvantages:
- Unlimited package is costly
- It has a Limited reporting option
Advantages:
The software is mostly admired because it can be used easily
It is a user-friendly software
Easily understandable
Suitable for small businesses
Price:
Pricing of the One Up range is started from $9 to $169 per month. There is also a free trial period for 30 days with unlimited features and customer support.
Zoho Books
Zoho Books is online accounting software that is an all-in-one tool and can manage finances, automates business workflows, etc. and it is also helpful in work collectively across departments.
Key Features:
Inventory management
Project management
Automation
Advantages:
- This software offers a 14-day free trial period
- It is Completely friendly with mobile
- It is Cloud-based so it is not expensive and easy to set up
- User-friendly software
- It has the multi-language and multi-currency capability
Disadvantages:
- This software doesn’t offer an on-premise arrangement
- In this software live chat support is not available.
Price:
The price of this software starts from $9 and ranges up to $29 per month.
Kashoo
It is the best small business accounting software for 2021. It is also good for medium-sized business. Kashoo is easiest book keeping software in 2021.
Key Features:
Mobile app
Bills and payment management
Automatic backups
Tax calculations
Multi-currency support
Disadvantages:
- This software has Limited integrations
- In this, there is no support for mobile apps
Advantages :
- This software is Best for self-employed and small businesses
- Kashoo software has lots of features
- The software can save time in the recording
Price:
The monthly price of this software is $19.95.
Conclusion
In this article, I have explained some important accounting software. Their advantages disadvantage key points, prices are explained. So it’s easy for you to select accounting software that fulfills your exact accounting requirements. By using accounting software you can save time in handling financial data. The software can mechanically create accounting data.
