When there are a large number of options, it can be be difficult to know which accounting software tools are appropriate for your business. Accounting tasks can be disorganized and time consuming without the appropriate software to support their completion. Even then, some software options are better for certain situations than others. This is important to keep in mind when considering your own business and what would best suit your own accounting needs. This list of accounting software tools and their benefits (arranged in no particular order) will help you determine which tool is right for your company.
1. Quickbooks Software
This accounting software is the most reasonably priced option on the market. However, this comes with the knowledge that QuickBooks provides mostly basic tools. This can be useful for small businesses as well as freelancers and online merchants. QuickBooks also wins points for ease of use, as everything is setup on a dashboard which is easily navigated. Like many software options of this kind, it also saves a business time when it comes to their necessary accounting tasks. QuickBooks can also be integrated with more than 150 third-party apps, letting several processes be streamlined into this single service.
- Low Price
- Good for freelancers/online merchants/etc.
- App Integration Capabilities
2. Wave Accounting
With a user-friendly interface and immediate use after the entering of an e-mail and other details, Wave starts out as being a simple piece of software to access and get started with. With managing finances being as stressful as it is, user-friendly interface is far from being the only thing that matters. Wave also wins points for automatically syncing data as well as providing pre-made templates for those who aren’t very familiar with financial reporting. A unique aspect of Wave is that it partnered with various providers of services and products for your business, offering discounts and special perks. However, while Wave is a free accounting software, this means it also comes with some baggage. For instance, customer support is not available unless paid for, there are no payroll options, and users will have to deal with the presence of advertisements.
- Free
- User-Friendly
- Partnerships & Discounts
- Advertisements & Lack of Customer Support
- Limited Functions
3. FreshBooks
As a small business owner, there’s a high probability that you’re often on the go, moving from one place to the next. However, accounting needs and other responsibilities do not stop or slow down because you’re out of the office, and quality mobile accounting software may prove a necessity for your small business. Under one monthly fee, you can get access to FreshBook’s software and comprehensive mobile application. With a clean interface and easy-to-access tools and buttons throughout the app, FreshBook’s takes the often cumbersome task of accounting and turns it into something easily taken care of. From creating invoices on your phone or tablet to tracking expenses wherever you go, you’ll never be in the dark over how to handle your finances much less what state they’re in. Customer support is also readily available as a button-click away in the application itself. However, as is to be expected with mobile software, there are limitations. FreshBook is only available on iOS and Android, and some features still require you to access them online, sometimes defeating the purpose of the mobile app.
- Best Mobile Option
- Easy-to-Use Software
- Good Customer Support
- Limited Platforms Supported
- Feature Limitations
4. Sage 50 Premium
Given that backing up your system as well as data security is vital, especially when working with something as serious as your business’s finances, being able to hold information on the cloud and having consistent access to it is extremely important. Sage 50 Premium offers several software options to their users, including one which allows finance information to be held in the cloud, meaning it can never be lost to a data crash. Designed for small businesses and having three levels of software for different needs, Sage 50 satisfies almost every aspect of what one might want in their accounting software. It produces professional-looking paperwork, is extremely efficient, and makes itself easily understood so that even non-accountants can operate it.
- Ideal for Any Variety of Small Business
- Easy-to-Use
- Efficient
- Cloud Storage
5. Cougar Mountain Business Accounting
Managing an unlimited amount of inventory and concurrent users, Cougar Mountain is also capable of working with all cost methods, making it an extremely adaptable and versatile software. Having been around for 30 years, this software has undergone a lot of change and improvements to reach the usability that it has today. After all this time, they have also built up a wide variety of modules to work with and choose from. However, these features within the modules often cost extra, even after a user has already purchased a separate module. Being ready to grow with your business and serious, well-trained support staff, and the ability to tackle any accounting needs, this software would be ideal if not for the unfortunate excess costs.
- 30 Years Experience
- Excess Costs
- Wide Variety of Features
- Ability to Grow with Businesses
6. AccountEdge Pro
In contrast to Cougar Mountain, AccountEdge Pro has all-inclusive modules. While the software fails to provide add-ons, this is excusable as it is crafted entirely for small businesses, which don’t necessarily require the multitude of options that some larger-business based software might provide. Flexible and willing to evolve, even though AccountEdge Pro is tailored for small businesses and is small themself, they continue to meet expectations, provide quality work and impress.
- All-Inclusive
- Lacks Add-Ons
- Evolving
- Small Business
7. Xero
With a whopping 450 third-party apps available to be combined with their software, Xero positions themselves as the main competitor to QuickBooks. With 24/7 support, Xero provides every tool a business could need in order to organize and streamline their accounting via software. They even offer the ability for users to transfer their financial information from other software like QuickBooks onto their own software. They also boast automatic updates, easy connection to your bank, and consistent U.S. based support that is free to all users.
- Over 450 Third-Party Apps
- 24/7 US Support
- Ability to Transfer Information
- Every Necessary Service
8. CheqBook
Accessible to those who have never practiced accounting as well as those who are familiar with the job, CheqBook aims to make things safe and simple. With a 60-day money back guarantee, they also make users feel secure in their purchase by providing training videos, webinars and certification. This means that even those most clueless to accounting software can learn the ropes and use the tools provided at their maximum efficiency. They also work towards protecting your information and data by providing daily offsite backup, which the software handles automatically. This is certainly the safe option when it comes to accounting software. While other brands may boast more features, CheqBook ensures that what you do put into it, you’ll get back in security, knowledge and efficiency.
- 60-Day Money Back Guarantee
- Training & Certification
- Automatic Offsite Backup
9. Kashoo
With the learning curve of a single day, Kashoo encourages users to take control of this aspect of their business and that the small business owner is the only one who can be trusted to handle his books. Putting down have an excess of connected apps, Kashoo prefers to keep things simple and centralized all in one place and caters more strongly to those less familiar with accounting software tools. Offering a quality support system reachable by several platforms and a 14-day trial, Kashoo is a friendly face for those just starting out in this type of software.
- 14-Day Trial
- Learnable in a Day
- Centralized Information
- Strong Support Services
10. Zoho
Operating as a cloud software, Zoho let’s businesses practice all the necessary accounting software tools. However, Zoho also offers a client portal, which expedites the process of client communication and allows for almost immediate feedback. Offering this kind of cloud-based connection to the other half of the equation optimizes business efficiency. With the added ability to automate tasks, and the option to access Zoho on almost any device, this software’s strong suit is definitely getting stuff done efficiently. While calling itself easy to use and also offering a 14-Day Trial like Kashoo, this software is probably better utilized by those who have had a bit of experience with similar programs.
- Cloud Based
- Optimized Client Communication
- Mobility
- 14-Day Trial
Every business will have different priorities when it comes to choosing an accounting software tool that works for them. However, if you’re using a software tool, you’re still working with important information that needs to remain secure. Nordic Backup can help protect and secure the financial data that you enter into these software tools to make sure that if anything should happen, you’ll still have access to the information you’ve spent time organizing and optimizing. This is important for IRS related information as well as for legal purposes.
Click here to explore our cloud backup plans and find the one that’s perfect for you and your data.
