5 Best Accounting Softwares For Startups and Small Business

No matter how large or small their company, many have found that Excel doesn’t suffice for their accounting needs. SaaS-related agencies Startups and Small Business, in particular, have complex accounting requirements that cannot be met using simple accounting software. Monthly revenue tracking is a vital task for any company. Excel is however difficult to perform such a task.

Many businesses tend to ignore the importance and manage their accounting themselves. This can lead to a lot wasted time and resources.

These are the 5 best accounting softwares for small businesses and startups. They can streamline your accounting workflow, improve efficiency, and help you get more done.

Xero

Xero is a powerful accounting SaaS tool that allows startups and small business owners to view and track financial information in real-time, from virtually anywhere. It can be accessed via any device. This tool is an efficient accounting tool that helps companies complete many tasks such as revenue tracking, receivable tracking, payroll tracking, and wage tracking.

This tool is also available in multiple languages. Xero provides real-time updates on currency exchange. Xero offers SaaS companies the opportunity to easily customize their service.

Features

Tracking and bill payment
Track expenses
Bank feed configuration
Online payment assistance
Monitoring your job
Gusto integrated for payroll
Consolidating and categorizing transactions
Contact management
Automated data capture
Accounting reports
Prices
Early plan starting at $12 per Month
Growing plan starting at $34 a month
Pre-established plan starting at $65 per monthly
Rating
Capterra: 4.3
G2: 4.3

Zoho Books

Zoho Books is another accounting tool that companies will love. Zoho Books features many advanced features such as templates for invoices. Domain customization, recurring journals. bulk payments. Project deletion. You can easily Startups and Small Business track retainer invoices and send automatic reminders. Integrating with Stripe allows for easy payment reconciliation.

This tool eliminates any miscommunication between the sales and accounting units. This tool is mobile optimized, so it can be easily integrated with other business applications.

Features

Invoicing custom made
Professional estimate creation
Client portal
Tracking expense
Bill generation
Banking transaction tracking
Inventory level monitoring
Project tracking available in a billable amount
Real-time report scheduling
Streamlined document storage
Prices
Version free with limited features
Standard version at $9.87 per month
Professional version available at $19.75/month
Premium version available at $39.50/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 an affordable SaaS accounting software. This tool is specifically made for small businesses that have fewer than 10 employees. You can even Startups and Small Businessrely on independent accountants or consultants to use this tool. Although it’s very easy to use, it provides the best security for the data and information that it processes.

Wave lets you invent unlimited invoices and allow you to analyze your company’s finances. Automated payments and recurring bills make creating and sending professional invoices easy.

Features

Invoice tracking
Cloud-hosted platform
Management of expenses
Simple interface
Centralized dashboard
Quote conversion
Automated active reminders of invoices
Multilingual support
Mobile app
Pricing model based upon pay-per transaction
Prices
All are welcome
Rating
Capterra: 4.6
G2: 4.4

Intuit – QuickBooks

Intuit – QuickBooks is the ideal SaaS accounting solution for high-growth businesses with complex financial evaluation needs. The tool includes many useful features such as inventory monitoring, payroll management, and other features specific for your industry. This will make financial transaction tracking simpler. This tool is packed with great features, but its primary function lies in financial reporting.

The platform’s simple language and easy navigation will make it easy for you to use. You can easily handle complex accounting tasks because it has an enormous document storage capacity.

Features

Cloud account management
Professional invoice production
Customized sales receipts
QuickBooks integration for online banking
Transcript and bank statement updates automatically
Dashboard and reports customizable
Recurring payment scheduling
Time tracking of employees
Access to mobile and tablet apps
Customer support is available at no cost
Prices
$6.97 per month, with a 30-day complimentary trial
Rating
Capterra: 4.3
G2: 4.6

FreshBooks

FreshBooks is another SaaS-based accounting tool that provides many useful solutions for freelancers as well as businesses. It makes accounting tasks much easier. This tool is especially useful for time tracking and invoicing. This tool offers several useful features such as reminders for overdue and delayed payments, payment claims, delay fee, and payment gateways.

FreshBooks makes it easy to automate billing processes that are recurring. It also integrates with all payment methods like Amex and PayPal. The new dashboard allows for effective collaboration between employees.

Features

Customizable invoices
Automated reminders for pending payments
Late fee application automatically
Multiple payment modes
For recurring invoices, schedule invoicing
Customizable due date setting
Centralized storage of received and sent invoices
Invoices in multiple language
Invoice duplication
Multi-currency billing
Prices
Lite version at $6 per month
Plus version starting at $10 per month
Premium version available at $20 per monthly
Pricing for Select Versions: Custom Pricing
Rating
Capterra: 4.5
G2: 4.5

Making the right decision can be challenging with so many accounting tools today. This list can be a tremendous help in determining the best SaaS tool for accounting.

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