5 Best Accounting Softwares for Startups and Small Businesses

Small Businesses Many companies, no matter their size, have discovered that Excel is not enough to meet their accounting requirements. SaaS agencies and start-ups have unique accounting requirements that can’t be met with basic accounting software. Every company must track their monthly revenue. Excel, however, makes it difficult for companies to do such a task.

Many companies neglect the importance of accounting and try to manage it themselves. They end up wasting time and money just to avoid hiring.

These 5 top accounting software options for startups and small businesses can streamline your accounting process and increase efficiency.

Xero

Xero, an accounting SaaS platform that allows small businesses and startups to access and keep track of financial data in real time from anywhere and anytime, is a great tool. This tool can be accessed from any device. It is an excellent tool for accounting. It helps companies to track receivables and payables, wages tracking, revenue tracking, and many other tasks.

The tool supports multiple languages. Xero reports currency exchange updates in real time. Xero’s SaaS-based owners have the ability to customize it according to their requirements.

Features

Tracking and payment of bills
Track your expenses
Setup bank feed
Online payment assistance
Tracking job opportunities
Payroll integration with Gusto
Reconciling and categorizing transactions
Contact management
Automated data collection
Accounting reports
Price
Early Plan at $12 Per Month
Growing plan starting at $34 per Month
Plan established at $65 per Month
Rating
Capterra: 4.3
G2: 4.3

Zoho Books

Zoho Books, another excellent accounting tool for businesses, is Zoho Books. Zoho Books offers many advanced features, including templates for invoices and domain customization, bulk payments, bulk payments, project deletion, bulk payments, bulk payment, bulk billing, and bulk payments. It can automatically send reminders for payment and helps you track retainer invoices. Integration with Stripe makes it easy to reconcile payments.

This tool can eliminate any miscommunication between sales and accountancy units. It supports mobile optimization so you can integrate it with other apps relevant to your business.

Features

Invoicing customized
Professional estimate creation
Client portal
Tracking expenses
Bill generation
Tracking bank transactions
Inventory level monitoring
Tracking of projects in the millions
Real-time report scheduling
Document storage simplified
Price
Limited features in a free version
Standard version at $9.87 per month
Professional version starting at $19.75 per Month
Premium version starting at $39.50 per Month
Elite version at $65.85 per month
Ultimate version at $105.36 per month
Rating
Capterra: 4.4
G2: 4.5

Wave

Wave is a SaaS accounting tool that’s free. Wave is a tool that was specifically designed for small businesses with fewer than ten employees. This tool is also available to independent accountants and consultants. It is easy to use, but it offers the highest level of security.

Wave allows unlimited invoicing and real financial analysis. Wave’s features like automatic payments and recurring billing make it easy to create and send professional invoices.

Features

Invoice tracking
Cloud-hosted platform
Management of expenses
Interface is simple to use
Centralized dashboard
Conversion of quotes
Reminders for active invoices automatically
Multilingual support
Mobile app
Pricing model that is pay-per-transaction
Price
No cost
Rating
Capterra: 4.6
G2: 4.4

Intuit – QuickBooks

If your business is a high-growth one and has challenging financial evaluation requirements, Intuit QuickBooks is the right SaaS accounting software for you. The tool offers many useful features, including inventory monitoring and payroll management. It also has other features that are specific to your industry. This makes financial transaction tracking much easier. This tool has many great features but its main function lies in financial reporting and management.

This platform is easy to use and uses simple language. It can store a lot of documents, so even complicated accounting tasks are possible.

Features

Cloud account management
Professional invoice creation
Customized sales receipts
Integration of QuickBooks Online Banking
Automated bank statement and transaction updates
Reports and dashboards that can be customized
Recurring payment scheduling
Time tracking for employees
Access via mobile and tablet
Support for customers is free
Price
$6.97 per Month with a 30-day trial
Rating
Capterra: 4.3
G2: 4.6

FreshBooks

FreshBooks, another SaaS accounting tool that is efficient and useful for freelancers and businesses, makes accounting tasks easier. This tool excels at invoicing and time tracking. The centralized dashboard offers many useful features, including reminders for overdue payment, payment claims, delay fees and payment gateways.

FreshBooks can automate recurring billing processes. All payment methods, including credit cards, PayPal and Amex can be integrated with FreshBooks. The redesigned dashboard makes it easy to collaborate with your employees.

Features

Customizable invoices
Automated reminders to remind you of pending payments
Application for an automated late fee
Multiple payment modes
Recurring invoices can be scheduled for invoicing
Customizable due date setting
Centralized storage for sent and received invoices
Invoices available in multiple languages
Invoice duplication
Multiple currencies are available for billing
Price
Lite version at $6 per month
Plus version available at $10 per Month
Premium version starting at $20 per Month
Choose version – Custom pricing
Rating
Capterra: 4.5
G2: 4.5

It can be difficult to choose the right accounting tool among all of the options available. This list will help you make an informed decision about the best SaaS accounting tools.

Additional Resource:
https://www.bizbuysell.com/franchise-for-sale/business-opportunities-franchise/
https://www.imd.org/research-knowledge/articles/ideas-are-the-seeds-of-new-business-opportunity/
https://hotmart.com/en/blog/business-opportunities