Accounting software is an application that is used to keep track of and execute financial transactions in their module. Accounts receivable, payable, ledger, journal, payroll, and others are included in this module. It assists accountants in managing accounts and performing a variety of accounting tasks. Accounting software comes in a variety of forms, each with its own set of features and pricing. The type of industry and the number of employees are two aspects that might assist a small business owner in selecting appropriate accounting software. We will look at 8 small business accounting software options in this guide to help you determine which is best for you.

8 Best Accounting Software For Startups

Intuit QuickBooks Online

Intuit developed and marketed QuickBooks online, an accounting software. Intuit QuickBooks Online is one of the most widely used accounting software among small businesses and their bookkeeping. Intuit QuickBooks Online software is cloud-based and accessible via a web browser or a mobile app. It’s simple to use, well-designed, and made to cater to a wide range of people. QuickBooks combines POS, time tracking, payroll, as well as other integrated services to provide all a small business requires in one place. This offers a variety of plans to fit your needs, all of which are quite reasonable. Also the simplest plan is highly extensive, allowing you to track income and expenditure, send limitless invoices, simply store records, connect numerous bank accounts for a complete picture of your business finances, and run multiple reports.

Features-

• One may manage their business and access accounts from anywhere at any time.

• You can make professional invoices and sales receipts with this software.

• Roles and permissions give you complete control over your books.

• It has the ability to integrate with online banking.

• Keep track of all of your expenses in one spot.

FreshBooks

FreshBooks is a popular invoicing and bookkeeping software for small businesses. This cloud-based accounting software is constantly praised for its user-friendly layout, extensive capabilities, and simple navigation. You’ll be able to better organize and control your time, finances, and transactions using Freshbooks. Users can keep track of all of the money in real-time, thanks to its well-organized platform and visible dashboards. FreshBooks is ideal for small businesses seeking simplicity, robust invoicing, proposals, and excellent customer service. Freshbooks has four premium options, each with a monthly price starting at $15.

Features-

• It delivers financial reports that are simple to comprehend.

• This accounting software facilitates project collaboration.

• It performs automatic checks and balances to verify correctness and compliance.

• This accounting software makes it simple to keep track of expenses.

• You may easily use log hours and have them automatically included in your invoice.

• In just a few clicks, this accounting software can generate invoices for clients.

Kashoo

Kashoo is a cloud-based accounting software. For small business owners, Kashoo is an outstanding accounting solution. It’s easy to use and understand, and it allows a small business owner to develop and send professional invoices, track and manage expenses, produce reports, examine transactions, connect payroll, accept credit card payments with Square integration, and far more. Small business owners, freelancers, and solo entrepreneurs benefit most from Kashoo, a cloud accounting platform. Kashoo was created to be simple and user-friendly, allowing those without an accounting experience to utilize it with ease. 

Features-

• Bank Reconciliation.

• Account receivable.

• Multiple users and unlimited projects.

• Keeping track of your income and expenses.

• Payroll, Square, and FreshBooks are all integrated.

• Accountant access.

• Payroll management.

• Multiple currencies.

Netsuite

NetSuite is an integrated cloud business product suite which is developed by Oracle. Oracle NetSuite is one of the best accounting software within an ERP platform because of its robust services. Oracle NetSuite provides an intuitive cloud financial management solution as part of its sophisticated ERP offering, allowing organizations to track their financial data and automate many critical accounting activities. Its pricing is tailored to each individual user, based on their specific demands and circumstances.

Features-

• Netsuite makes your financial planning process more efficient.

• A revenue recognition management solution is provided by this bookkeeping software.

• It provides billing management features that allow you to combine your finance and sales.

• The dashboard allows you to manage users as per their roles.

Sage 50Cloud

Small and medium-sized businesses will find Sage 50cloud to be an excellent solution. The software is extremely sophisticated and robust. This is desktop software that can be accessed remotely from anywhere. Inventory management, accounts receivable functionality, report creation, and integrated payroll are all included in Sage 50cloud. It’s ideal for small enterprises that want access for multiple users. Bills, invoices, purchase orders, job prices, and payroll services are all simplified with Sage 50cloud. Sage 50cloud Accounting has helped small firms and entrepreneurs run more efficiently and successfully because of its user-friendly design. It offers various features and some of them are given below.

Features-

• Payroll Management

• Accounts Receivable

• Bank Reconciliation

• Accounts payable

• Multi-Currency

• Billing & Invoicing

• Payment Processing

• Tracking of expenses

Wave

Wave is a great accounting software platform for a service-based small firm that only needs to send simple invoices and doesn’t have to operate payroll. It is a free accounting software for small businesses. There are no monthly fees, hidden expenditures, or setup fees. With a single Wave account, you can manage several businesses, making it ideal for any entrepreneur. Invoicing, expense tracking, accounts payable, bank reconciliation, and other accounting functions are all covered by the software.

Features-

• Contact management

• Item management

• Excellent payables and receivables features

• Receipt scanning

• Banking and Cash Management

• Reporting

Xero

Xero is the best accounting software for small businesses in the United States. This allows you to collaborate with your advisors and share it with your team. Xero is a simple-to-use tool that can handle any startup’s banking, billing, and cash flow analysis, and its unmatched array of integrations makes it a versatile and complete solution. Invoicing, reconciliation, accounts payable, bookkeeping, and more can all be managed with Xero. You may work from anywhere with the Xero accounting software. The main advantage of this software is that it automatically tracks profit and loss in multiple currencies. 

Features-

• Expense tracking

• Invoicing

• Contact Management

• Bank Reconciliation

• Expense Claims

• Up-to-date financial reports

• Client portal

• Accounts Payable

ZipBooks

ZipBooks is one of the most user-friendly accounting software in the market. ZipBooks is ideal for small businesses looking for a cost-effective and reliable accounting solution. ZipBooks combines all of the essential functions of accounting software into a single free account, including reports, bank syncing, billing, spending tracking, and invoicing. ZipBooks simplifies the process of running a business. The software is designed to be easy and intuitive, with automations to help you save time.

Features-

• Accounts Payable

• Cash Management

• Project management

• Bank Reconciliation

• Good customer support

• Accounts Receivable

• Time tracking

Conclusion

There are numerous accounting software alternatives available on the market. Every accounting software in this article aims to reduce the day-to-day accounting activities that a business needs to stay afloat so that owners may concentrate on their business’s growth. Ultimately, decide that solution is ideal for your business. It is a crucial decision that should be carefully considered.