Tired of using just spreadsheets and manual bookkeeping for your business? You’re not alone.
Many small businesses (and even some large ones) rely on manual bookkeeping, which can become cumbersome and time-consuming. With accounting software, you can have all your financial data in one place and access it anywhere. It allows you to easily track your cash flow, generate invoices and even file your tax returns with just a few clicks.
There are many factors to consider when choosing the right accounting software for your business. The most important criteria include features, price, and support.
The best small business accounting software will not only provide you with a way to manage income and expenses but also help you maintain compliance with government regulations.
Below is our breakdown of the best online software for accounting, bookkeeping & invoicing in 2022:
1. FreshBooks - Best Overall Value
FreshBooks is cloud-based accounting software that's ideal for freelancers and small business owners. It has a simple, user-friendly interface and provides the ability to create custom invoices and estimates. It also includes tools for time tracking, expense management, reporting, and project management.
2. QuickBooks Online - Best Overall features
QuickBooks Online is a complete accounting solution that includes tools for invoicing, payments and expenses, tax management, reporting, and payroll. The platform integrates with over 600 third-party business applications and allows users to access their data from anywhere. QuickBooks Online also has the most comprehensive set of mobile apps in our review roundup.
3. Xero Accounting Software - Best for Multinational Businesses
Xero is online accounting software that's ideal for businesses with international customers or suppliers. Its multilingual capabilities allow users to track sales and purchase transactions in different currencies on the same dashboard, making it easy to identify trends in other countries or regions. Xero also offers a variety of financial reports that are easy to customize and export into PDF files or Excel spreadsheets.
4. Sage Business Cloud Accounting - Best for New Business Owners
Sage is an accounting solution that allows businesses to automate their financial planning processes. Sage includes functionality for budgeting, cash flow forecasting, and automating financial reporting processes. Sage also provides revenue recognition functionality for subscription billing models.
5. Zoho Books - Best for User-Friendly Features
Zoho Books is cloud-based accounting software that helps small businesses accept online payments, manage and pay bills, and create invoices. Zoho Books also offers inventory management, multi-currency support, auto-billing, and recurring invoices.
Our list of the best accounting software will help you choose the right tool for your business. All of these options are easy to use, affordable and our top picks, based on real user reviews.