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The Ultimate List of the Best Small Business Accounting Software in 2020

Louel Siena Louel Siena June 25, 2020
The Ultimate List of the Best Small Business Accounting Software in 2020

Accounting is an integral part of every business, and for some entrepreneurs, it’s also the most frustrating. Small tasks, like expense tracking, take the excitement away from nurturing and building a company. 

Part of the reason behind this sentiment towards accounting is that it requires great focus and attention. A simple mistake can cost you hours of re-organizing statements, which translates to losses in business jargon. 

Luckily, technology has yet again made it easier for entrepreneurs to track their capital and minimize errors. Aside from outsourcing bookkeeping services, plenty of accounting platforms started to step in and offer impressive features. For one, these platforms consolidate all the processes in a single dashboard.

Here’s a list of the best small business accounting software in the industry

  1. FreshBooks

FreshBooks is a web application that focuses on automation and smart assist. It stands as one of the most popular tools because of its impressive features that include bank integration, payroll processing, and customer service (or CRM) integration.

For many, FreshBooks is the ultimate business assistant that makes bookkeeping services for small businesses so much easier. Think Google Sheets but for accountants. Additionally, their customer service team is always ready to respond and help if you get stuck!

  1. Sage Accounting

Sage Accounting is a useful tool if you're running a business with a lean team. Its full roster of features will make up for your lack of personnel and only $10 per month (starting price point). Among its features are income and expense recording, project management, cash flow forecasting, and billing. Additionally, it integrates seamlessly with Microsoft Office.

Sage Accounting’s other variant, Sage 50cloud Accounting, offers the same functions but with Cloud and mobile features. Both are highly-regarded as quality tools for bookkeeping services for small businesses.

  1. Wave

Wave is another web application, but unlike other tools, it's free for all. Of course, this is something that small businesses specifically will appreciate. Wave understands the need for more tools tailored for SMEs and delivered just that.

The accounting software offers almost the same set of features that its paid counterparts do. The most notable of its tools are expense tracking, bank integration, and invoicing. It's worth trying if you need the services of an efficient and reliable system but don't want to shell out a considerable sum of capital.

  1. Zoho Books

Zoho Books effectively meets business needs thanks to its usability and flexibility. Its user-friendly features that cover sales, project tracking, and inventory management makes it one of the go-to and popular software for entrepreneurs. 

Many people rave about Zoho Books’ excellent interface because of its clean and intuitive layout. From one glance, you’ll get a good idea of how it works and how to navigate the tool. It’s a quick option for entrepreneurs who need a no-fuss application to work in place of professional small business accounting services.

  1. QuickBooks Online

QuickBooks Online is the accounting amateur's best friend, but it's the professional accountant's too. The tool's versatile features adapt quickly to the user's needs, whether he's adept at financial statements or trying it out for the first time. Its classic suite of functions includes invoicing, payroll processing, and business expense tracking.

It doesn't end there. QuickBooks Online can likewise sync with your bank accounts, whether it's a credit or debit account if you want it to automatically update your data. Overall, the software is a great accounting assistant and learning playground!

Louel Siena is an Operations Manager at Intelegencia. When he is not working, he loves traveling and discovering new places

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