18 Best Accounting Software for a Small Business in 2024

The best accounting software help businesses track income and expenses, send invoices and late payment reminders, and keep their business finances in check.

Good accounting software solutions also help with taxes and payroll, which is great because outsourcing these services can cost a lot of money. Clearly, the benefits of accounting software are numerous.

The key challenge, however, is finding the best accounting software for your business that suits your needs and budget. 

Given the large number of options available, we’ve made the job easier for you by curating a list of the best accounting software.

But before we get to that, you must first understand what makes accounting software great and the key features that you should consider.

Disclaimer: This content contains affiliate links, which means we’ll earn a commission when you click on them (at no additional cost to you).

What are the Key Features of Accounting Software?

Here are some of the key features you should look for in the best accounting software:

• Billing and Invoices: Your accounting software should be able to send automatic invoices and late payment reminders, and should support recurring billing.
• Core Accounting: Accounts receivables and payables, bank reconciliation, and general ledger are some core accounting features that every accounting software should have.
• Inventory Management: The best accounting software solutions integrate inventory management with billing and invoicing to provide a seamless workflow.
• Tax Management: Best accounting software should be able to do complex tax calculations and ensure compliance with rules and regulations.
• Budgeting and Forecasting: Accounting software solutions that can assess the current year’s financial performance and forecast a budget for the next year are really useful. They also help with financial planning.
• Analytics and Reporting: In-depth analytics and customized reports are must-have features of the best accounting software for a small business.
• Error Resolution: The best accounting software should be able to detect and fix errors and do complex calculations automatically.

Other than these features, you should also consider the price, user-friendliness, and customer support before you make your choice.

Now that you have a fair idea of what to look for, let’s get to our top picks for the best accounting software available in the market today.

Top Accounting Software for a Small Business

Here is our list of top accounting software for small businesses. This includes both free and paid options that will be great for your small business needs.

We recommend making a list of requirements before you go through this list, to find the best option for your small business. Also, consider the number of user accounts, compatible devices, and pricing plans before you make your choice.

With that in mind, let’s get started.

1. Zoho Books

Image via Zoho

Zoho Books is an end-to-end accounting software solution that is great for both small businesses and enterprises. Apart from a full suite of accounting features, it also offers financial features.

The free plan allows you to manage invoices, orders, bills, payments, credit notes, and more. However, advanced features like inventory management and advanced analytics are available only with the paid plans.

So, what makes Zoho Books one of the best free accounting software for a small business?

For one, the platform has a free forever plan with all the basic accounting functionalities a small business would need initially. Once your business grows, you can upgrade to paid plans.

Also, if you’re using any of the other tools on the Zoho Suite, like Zoho CRM and Zoho Analytics, you’ll be able to access them all on a single platform.

Read our detailed Zoho Books review to learn more about this tool.

Key Features

• Invoice management (up to 1000 per year for the free plan)
• Online and offline payments
• Expense and mileage tracking
• Bank reconciliation
• Automated payment reminders
• Basic analytics and reports
• Integration with all Zoho apps and some other apps
• Advanced inventory management
• Advanced analytics and reporting
• Email, voice, and chat support

Pros

• Invoicing features like multilingual invoicing and recurring invoices are available with the free plan.
• Offers a lot of basic accounting features even with the free plan.
• Multiple pricing plans to cater to clients with different needs and budgets.
• Full suite of accounting features and customization options, more than most other accounting software solutions offer.

Cons

• The free plan can have only 1 user and 1 accountant.
• Only email support is available with the free plan.

Tool Level

• Intermediate

Usability

• Easy to use

Pricing

Apart from the free plan, these are the paid plans offered by this accounting software solution:

• Standard: $15 per month, billed annually
• Professional: $40 per month, billed annually
• Premium: $60 per month, billed annually
• Elite: $120 per month, billed annually
• Ultimate: $240 per month, billed annually

2. QuickBooks

Image via QuickBooks

QuickBooks is yet another best accounting software for small businesses. Though affordable, QuickBooks does not offer a free plan. It offers a 30-day free trial if you want to test out its features.

QuickBooks also offers a full suite of accounting features and is great not just for small businesses but also for large ones. These features include online billing, expense tracking, and financial reporting.

Despite not having a free plan, QuickBooks remains a favorite among freelancers because its starter plans are cost-effective and have outstanding features.

Here are the features offered by this accounting software solution, and some of its pros and cons.

Key Features

• Income and expense tracking
• Invoice and payment management
• Tax deductions
• General reports
• Receipt captures
• Mileage tracking
• Cash flow calculations
• Tax calculations and estimates
• Bill management
• Inventory management
• Business analytics
• Workflow automation

Pros

• Offers a generous 30-day free trial.
• Competitive pricing for a full suite of features and 50% off for the first three months.
• Flexible tiered pricing to cater to the needs of all types of businesses.

Cons

• Does not have a free forever plan.
• Can have more advanced analytics and reporting features

Tool Level

• Advanced

Usability

• Easy to use

Pricing

Here are the paid plans offered by QuickBooks. Please note that these are available for 50% off for the first three months and after that normal prices will apply.

• Simple Start: $9 per month
• Essentials: $13 per month
• Plus: $19 per month

3. Xero

Image via Xero

This is one of the most popular accounting software for small businesses. It is top-rated by users on review sites like Trustpilot.

And that’s why Xero makes it to the “best accounting software for small businesses” list.

Even with its lowest-tier plan, you get features like:

• Invoice management
• Bank reconciliation
• Bills and receipts capturing, etc. 

In collaboration with Gusto, Xero also offers comprehensive payroll services as an add-on for an extra $40.

While it provides all the important features a small business would need, it is not designed for large enterprises.

Check out some of its features, pros, and cons to decide if it has what you want from an accounting software solution.

Key Features

• Invoice management
• Bulk bank reconciliation
• Bills and receipts tracking
• Project and expense tracking
• Inventory and order management
• Multi-currency transactions
• In-depth analytics and reporting

Pros

• Offer a 30-day free trial.
• Has a simple, user-friendly interface.
• Offers tons of features at competitive prices.
• Even the basic plan allows bank reconciliation.
• Offers 24/7 online support.

Cons

• Multi-currency transactions are only possible with the most expensive plan.
• Reporting could be more visual and advanced.

Tool Level

• Beginner

Usability

• Easy to use

Pricing

You can access all the features of this accounting software solution free for 30 days and cancel anytime, no questions asked. Here are the paid plans details:

• Early: $13 per month
• Growing: $37 per month
• Established: $70 per month

Pro Tip: If you want the capabilities of a premium accounting software solution for the price of a basic one, go with Xero. It has everything a small business would need.

4. FreshBooks

Image via FreshBooks

If you want an accounting software solution that has advanced features but is easy to use, then FreshBooks should be your first choice. It’s among the best choices for solopreneurs or consultants, who’d need a single-user account.

It offers everything you need for accounting and bookkeeping, from expense tracking to automated payments. It’s also just as affordable as the tools already discussed, if not more.

Even its most basic plan allows you to send unlimited invoices and estimates, and track unlimited expenses.

Key Features

• Unlimited invoices, estimates, and proposals
• Unlimited automatic expense tracking
• Bank reconciliation
• Automatic receipt capturing
• Mobile mileage tracking
• Automated late payment reminders
• Customizable email marketing features
• Recurring billing and client retainers
• Advanced analytics and reporting
• White-labeling options

Pros

• The cheapest plan also has great features like unlimited invoice and expense tracking.
• Offers a 30-day free trial for all features.
• Allows subscription-based payments, which most other accounting software don’t.
• Also available as iOS and Android apps.

Cons

• Advanced payments are only available as an add-on for $20 per month or free with the top-tier plan.
• Need to pay extra for every new user account, which can spike the costs, especially for large businesses.

Tool Level

• Beginner/Intermediate/Expert

Usability

• The tool is extremely easy to use, despite offering advanced features.

Pricing

After the free 30-day trial, you can upgrade to the following paid plans. 

Please note that these prices are for a single user account and for every additional user you need to pay $11 extra. There is a 50% off discount for the first 6 months and here are the pricing details.

• Lite: $17 per month ($8.50 with the offer)
• Plus: $30 per month ($15 with the offer)
• Premium: $55 per month ($27.5 with the offer)
• Let’s Talk: Custom pricing

5. Sage Business Cloud Accounting

Image via Sage Business Cloud Accounting

Sage is another online accounting software solution that’s best for a small business. 

The accounting tool is part of a suite of Sage products that include payroll, HR, and CRM solutions.

Sage Accounting was designed for small to medium-sized businesses,  and the pricing plans reflect that. 

The basic plan starts at $10 and offers invoice management, income tracking, and automatic bank reconciliation.

The second plan costs $25 and offers additional features. However, with a 70% discount for the first 6 months, it costs just $7.50, which is even lower than the price of the basic plan.

The best services you’ll find while using this tool are invoicing and payroll, among others.

Key Features

• Invoice management
• Income tracking
• Automatic back reconciliation
• Quotes and estimates
• Cash flow forecast
• Multicurrency transactions
• Email, voice, and chat support

Pros

• Offers a 30-day free trial.
• One of the most budget-friendly accounting software for a small business.
• It’s a cloud-based accounting solution with multiple useful integrations.

Cons

• Offers only basic accounting features.
• Suitable only for very small businesses.

Tool Level

• Beginner

Usability

• Anyone can use this accounting software solution, without much training.

Pricing

Here are the details of the 2 plans offered by Sage:

• Sage Accounting Start: $10 per month
• Sage Accounting: $25 per month ($7.50 with offer)

6. Neat

Image via Neat

Neat is a financial management toolkit with accounting, invoicing, and financial document management capabilities. It has everything a small business would need to manage its accounts and finances.

However, it is best suited for self-employed individuals or very small businesses, as it offers a single plan with no advanced features.

So if you’re looking for a simple tool to help store your financial documents and track your expenses, then this tool is for you.

What are the features that it offers?

Check it out.

Key Features

• Invoice and payment management
• Free ACH/Bank transfers
• Custom invoice templates
• Receipts and expense tracking
• Analytics and custom reports
• Secure cloud storage for financial documents

Pros

• Offers a 14-day free trial
• Provides a decent set of features for a low price

Cons

• Offers only a single plan
• Not suitable for mid-sized or large businesses

Tool Level

• Beginner

Usability

• Easy to use accounting software solution for solopreneurs and micro-businesses.

Pricing

• Neat’s plan costs $200/year. However, you can get some advanced features for an extra fee. These include:
  • VIP Service: An extra $50/year for guided training, a dedicated support team, and exclusive offers. 
  • Automated insights: An extra $150/year for automatic account reports, real-time insights, importing bank account activity, etc.

7. ZarMoney

Image via ZarMoney

This is an all-in-one accounting software solution with invoicing, inventory management, billing, and payment capabilities.

You can use it to create and send custom invoices and have your customer pay directly by clicking the “pay now” option in invoices. Its advanced analytics and reporting feature gives you access to 40+ customizable reports.

Overall, it has a comprehensive set of features and plans suitable for both small and large businesses, making it amongst the best accounting software in the market.

In fact, it offers a premium plan for enterprises. This plan comes with an extensive set of advanced features, a dedicated account representative, specialized training, and priority support.

Despite having tons of advanced features, the user interface is simple and the tool is easy to use for small business owners or accountants.

Key Features

• Core accounting features
• Billing and payment processing
• Invoicing and estimates
• Bookkeeping
• Inventory management
• Accounts receivable
• Order management
• Analytics and reporting
• And more!

Pros

• Provides a 14-day free trial (no credit card required).
• Offers industry-specific solutions for ecommerce and other industries.
• ZarMoney is an end-to-end solution suitable for all types of businesses.
• Integrates seamlessly with tools like Mailchimp Zapier, Shopify, Stripe, and other applications.

Cons

• The Enterprise plan is quite expensive but offers a lot of advanced features.
• Not enough reporting capabilities for cash-only businesses.

Tool Level

• Expert

Usability

• Despite having tons of advanced features, the user interface is simple and the tool is easy to use for small business owners or accountants.

Pricing

Here are the details:

• Entrepreneur: $15 per month
• Small Business: $20 per month
• Enterprise: $350 per month

8. Patriot

Image via Patriot

Patriot is a payroll and accounting software for small businesses, but both products are sold separately, so you can choose only accounting if you prefer that.

Like other best accounting software for small businesses on this list, it also offers a 30-day free trial without any obligation.

What makes it one of the best accounting software for a small business?

Patriot’s features and pricing plans are designed with small businesses in mind. It offers only 2 plans, both of which are affordable and offer great value for money. The tool is also mobile-friendly.

Key Features

• Unlimited custom invoices
• Bank reconciliations
• Recurring billing
• Payment reminders
• Income and expense tracking
• Receipts management
• Estimates
• Error identification and corrections

Pros

• Provides expert support with both plans.
• Is one of the most cost-effective options for a small business.
• Offers tons of features for the price point.
• Provides a 30-day free trial.
• Simple, no-frills, and transparent pricing.

Cons

• Suitable only for small businesses.
• Lacks inventory tracking and management.

Tool Level

• Intermediate

Usability

• This accounting software solution is user-friendly, according to customer reviews.

Pricing

Here are the plans that it offers:

• Basic: $20 per month
• Premium: $30 per month

Pro Tip: If you are looking for budget-friendly options with the best accounting features, consider Patriot. However, if inventory tracking is a crucial feature for you, skip it.

9. LessAccounting

Image via LessAccounting

This is an accounting and invoicing software solution that provides basic invoicing features for free. However, for a full suite of features, you’ll need to invest in a paid plan.

Why did we include it in our list of best free accounting software for a small business?

Because it is an easy-to-use tool with a clean interface that provides basic invoicing and payment capabilities that most small businesses need.

Moreover, even its paid plans are not very expensive and it is an overall good accounting software solution for a small business.

Key Features

• Unlimited custom invoices
• Customer management
• Payments with Stripe, Paypal, and Square
• Expense tracking
• Estimates
• Tax reports
• Unlimited team members
• Bank reconciliation
• Time tracking
• Bookkeeping
• Late payment reminders

Pros

• Easy to use intuitive interface
• Basic invoicing for startups is free forever

Cons

• Advanced features like analytics, bank reconciliation, etc. come with paid plans

Tool Level

• Beginner

Usability

• Easy to use

Pricing

Apart from the free plan, here are the plans that this accounting software solution offers:

• Lite: $24 per month
• Team: $36 per month

10. Kashoo

Image via Kashoo

This is a simple accounting software solution for small businesses. It offers different apps for different small business accounting needs from invoicing to advanced accounting.

You can simply track your invoices and expenses if you’re a small business, and you can get automated accounting as your business grows. Small businesses can get the Trulysmall Accounting package while larger ones can get the Kashoo plan.

If you’re a small business owner looking for budget-friendly accounting software for your small business, then you should definitely consider Kashoo.

Here are some of its best features.

Key Features

• Manages invoices
• Accepts payments
• Tracks income and clients
• Reporting and other accounting features come with the paid plans

Pros

• Invoicing is completely free forever
• Paid plans offer a free trial and competitive pricing

Cons

• Only caters to small businesses, not suitable for enterprises

Tool Level

• Beginner

Usability

• It is one of the accounting software for small businesses that are easy to use.

Pricing

Here are the pricing plans offered by Kashoo:

• Trulysmall Accounting: $216/year
• Kashoo: $324/year

11. Wave

Image via Wave

Unlike other accounting software in this list, Wave offers separate tools for different accounting functions. These include invoicing, accounting, banking, payments, and payroll. It also offers advisory services.

What makes it one of the best accounting software for a small business?

The invoicing, accounting, and banking tools are completely free for use by anyone. In fact, it is one of the accounting software that offer the most features for free.

What’s more? 

You can track your expenses easily on the go with their mobile receipts. The feature allows you to scan receipts, and back them up in the cloud.

Let’s look at some of Wave’s key features.

Key Features

• Invoice management
• Custom invoices
• Automated reminders
• Income and expense tracking
• Reports like overdue invoices, profit & loss, etc.
• Simplified taxation
• Instant payouts

Pros

• Invoicing, accounting, and banking features are 100% free to use
• The tool offers almost everything a small business needs to get started
• Also offers advisory services to improve your accounting and bookkeeping skills

Cons

• Best suited for Sole Proprietors in the US and not larger businesses or businesses in other countries

Tool Level

• Beginner

Usability

• Easy to use.

Pricing

Here’s what Wave’s pricing looks like:

• Invoicing: Free
• Accounting: Free
• Payments: Per transaction fees based on the mode of payment
• Mobile receipts: $8/month
• Payroll: $40 per month for tax service states and $20 for self-service states, plus additional charges per employee and contractor paid
• Advisors: $149 per month for bookkeeping support and a flat fee of $379 for accounting and payroll coaching

Pro Tip: If you have a Sole Proprietorship in the states, this is the best option for you. Start with the free features and add more features as the need arises.

12. ZipBooks

Image via ZipBooks

ZipBooks is one of the free accounting software that offer a forever free plan but with limited features. You can send unlimited invoices, manage unlimited customers, and view basic reports with the free plan.

You can customize your invoices and include your logo, brand colors, and your contact information. You can also keep track of client payment and invoice history, late balances, and taxes. 

What’s more?

ZipBooks provides you with reports and analytics that give actionable insights to help you make data-driven decisions.

The paid plans are also quite affordable and provide decent features. Check out the features, pros, and cons of this accounting tool and see if it fits your needs.

Key Features

• Unlimited custom invoicing
• Recurring billing
• Automated payment reminders
• Core accounting features
• Smart client management
• Square and PayPal integrations
• Multicurrency payments
• Receipt tracking
• Bookkeeping
• Custom reports

Pros

• Enables unlimited transactions and invoicing for free.
• Offers a free forever plan with basic accounting features.
• Is easy to use.

Cons

• Lacks advanced features (like inventory management) and integrations.

Tool Level

• Beginner

Usability

• The tool is easy to use.

Pricing

Here are the plans offered by ZipBooks:

• Starter: Free
• Smarter: $15 per month
• Sophisticated: $35 per month
• Accountant: Custom pricing

13. Lendio

Image via Lendio

This is one of the best accounting software solutions that offer a free plan. With Lendio’s free plan you can send invoices, manage income and expenses, and generate profit and loss reports.

Lendio also helps you connect your bank account easily so that your costs and revenue are imported automatically. This way, you get real-time insights that you can act on right away.

It also provides easy access to a profit-and-loss statement, balance sheet, tax summary, and accounts receivable reports. You also get funding options for your small business.

The pid plan allows access to financial insights and forecasts and expense categoriation feature. It also supports payment integrations with PayPal, Square, and Stripe.

Key Features

• Invoice management
• Income and expense tracking
• Financial insights
• Expense categorization
• Multicurrency payments

Pros

• Offers a free plan and a 14-day free trial with the paid plan.
• Free plan has basic accounting features for a small business.

Cons

• Offers only basic features, not suitable for mid-sized or large businesses.

Tool Level

• Beginner

Usability

• It is easy to use.

Pricing

Apart from the free plan, it offers only one paid plan:

• Plus: $19.99 per month

14. Holded

Image via Holded

Holded is another one of the best accounting software solutions that provide multiple pricing tiers for different types of clients. It has a free plan and an affordable plan for freelancers, and multiple plans for businesses of different sizes.

Besides accounting and invoicing, you get project management features like Kanban boards, lists, and Gantt Charts. You also get to automate most of your accounting processes for more accuracy.

Holded’s free plan has invoicing and expense tracking features, while the paid plans offer tons of other accounting features like personalized client portals and more invoices.

Accountants and bookkeepers can request payments from clients, give estimates to prospects, and generate financial reports using Holded’s invoicing module. 

Here’s a list of key features.

Key Features

• Invoice and expense tracking
• Project management
• Core accounting features
• CRM tools
• Payment reminders
• Bookings management
• Recurring invoices
• Tax calculations
• Cash management
• Inventory management
• HR management

Pros

• Offers a free plan as well as a 14-day free trial on the paid plans.
• An all-in-one solution catering to all types of business.
• Industry-specific solutions for ecommerce businesses.
• Multiple free integrations.

Cons

• Only the top-tier plan provides unlimited invoicing.
• The free plan doesn’t have much to offer.

Tool Level

• Intermediate

Usability

• Some users complain about the translation feature not working perfectly, which could be difficult for non-Spanish users.

Pricing

Here are the plans offered by Holded. Please note that the prices are half (50% off) for the first 3 months.

• Free
• Plus: €15 per month ($15 per month)*
• Basic: €29 per month ($29 per month)
• Standard: €59 per month ($59 per month)
• Advanced: €99 per month ($99 per month)
• Premium: €199 per month ($199 per month)

*Conversions are done at a 1:1 conversion rate as of August 31, 2023

15. AccountEdge

Image via AccountEdge

If you’re looking for a great accounting software solution designed specifically for Mac laptops, then look no further than AccountEdge.

It is a premium solution that allows you to choose your home currency and calculates taxes according to your region’s rules. The analytics reports are also customizable and give you the exact information you’ll need for your specific tax forms.

Unlike other accounting software, AccountEdge Pro is available for a flat one-time fee and allows up to 10 users to access its full suite of features. It also offers an ERP solution with customized pricing, if you want an all-in-one solution for your small business.

AccountEdge offers features for the following business function:

Key Features

• General ledger
• Banking
• Sales
• Payments
• Time billing
• Invoicing
• Payroll
• Purchases
• Mileage tracking
• Inventory
• Contacts

Pros

• The most comprehensive accounting software solution, suitable for all types of businesses.
• Features like inventory management and seamless payments make it great for ecommerce businesses as well.
• Offers a 30-day free trial option.

Cons

• Compatible only with Mac laptops.
• Doesn’t allow unlimited users.

Tool Level

• Expert

Usability

• There are tons of learning resources available, which make it easy to understand and use the tool even as a beginner.

Pricing

• AccountEdge Pro is available for a one-time fee of $499, with licenses sold separately.

Pro Tip: If you need a Mac-specific accounting solution with a full set of advanced features, then go with AccountEdge.

16. OneUp

Image via OneUp

Another accounting and bookkeeping software solution that would be best for your small business is OneUp. You can use this tool to overcome the challenges of financial accounting for your startup.

This accounting software solution considerably reduces the time required to handle  accounting tasks by automating some of them. It will sync with your business bank accounts and automatically validate entries, making bookkeeping feel like a breeze.

For instance, you get an automated inventory management tool that allows you to review and send orders to suppliers with a single click. 

You can also receive the inventory when a vendor shipment comes in, and it will be updated in Square and any other relevant integrations.

What makes it one of the best accounting software for a small business? The fact that it offers a full set of features at an affordable price.

Here’s a list of OneUp’s main features.

Key Features

• Invoicing
• Inventory management
• Core accounting
• Bank reconciliation
• Cash flow and profit reporting
• Bookkeeping
• Customer relationship management (CRM)

Pros

• Offers a 30-day free trial.
• All plans include the same features but differ in terms of the number of users.
• All plans except the basic (Self) one offer one on one customer support.
• Can be accessed from all devices.

Cons

• Provides only basic reporting and no advanced analytics.
• Does not offer time-tracking and billing.

Tool Level

• Intermediate

Usability

• The user interface could be cleaner and more user-friendly.

Pricing

Here are the pricing plans offered by OneUp:

• Self: $9 per month (1 user)
• Pro: $19 per month (2 users)
• Plus: $29 per month (3 users)
• Team: $69 per month (7 users)
• Unlimited: $169 per month (unlimited users)

Pro Tip: If you’re a freelancer and you need single-user access, then this is one of the most affordable options for you.

17. Reckon One

Image via Reckon One

This is one of the most affordable accounting software, perfect for a small business. Apart from basic accounting features, it also offers project management, payroll, and time tracking.

Want to know the best part?

Reckon One is power-packed with features and still offers competitive prices. Not just that, it also offers 50% off on all plans, for the first six months, making it extremely cost-effective.

You get professional invoices with a “Pay now” prompt for credit card payments to increase cash flow. Timesaving tools like recurring invoices, payment reminders, and templates also ensure that your customers pay you on time.

It is suitable for businesses of all sizes and offers custom plans for enterprises that want to build their own packages. Overall, it’s an all-in-one accounting solution with something for everyone.

Key Features

• Unlimited invoicing and billing
• Income and expense tracking
• Tax reporting
• 1000 bank transactions
• Unlimited payroll
• Budgets and forecasts
• Unlimited timesheets and employee expenses
• Analytics and reporting

Pros

• It’s a cloud-based solution with mobile access.
• Offers a 30-day free trial
• Simple, user-friendly interface.
• Industry-specific accounting solutions.

Cons

• Lacks inventory management.
• Some useful features come only with the premium plans.

Tool Level

• Intermediate

Usability

• It is easy to use with tons of learning resources available on the website for beginners.

Pricing

Here are the plans that you can choose from:

• The Basics: $10 per month ($5 for the first 6 months)
• Essentials: $25 per month ($12.50 for the first 6 months)
• Essentials + Payroll: $36 per month ($17.50 for the first 6 months)
• Premium: $49 per month ($24.50 for the first 6 months)
• Build Your Own Package: Custom

18. GnuCash

Image via GnuCash

This is the only open-source accounting software solution on this list and it’s the only one you’ll need. GnuCash provides tons of features and is compatible with Linux, Mac, Microsoft Windows, and other devices.

It is regularly updated by a community of developers, who also provide support for using this software solution in the best possible way. However, it lacks the dedicated customer support provided by other tools on this list.

Key Features

• Double-entry accounting
• Financial reporting
• Transaction matching/validating
• General ledger
• Bank reconciliation
• Invoicing
• Multi-currency bill payments
• Tax calculations
• Payroll
• Stocks and mutual funds

Pros

• All features are completely free to use.
• Can work offline, after downloading.
• Compatible with all types of desktops and laptops.

Cons

• No dedicated customer support as it’s an open-source solution.
• It’s a single-user solution.

Tool Level

• Expert

Usability

• It’s not the easiest-to-use small business accounting software solution on this list, but after an initial learning curve, it becomes relatively easy.

Pricing

• It is a completely free open-source solution.

FAQs

1. What are some of the best accounting software for a small business?

Here are our top five picks for the best accounting software for a small business:

• Zoho Books: Best for accountants who need mobile access
• QuickBooks: Best overall, suitable for all types of businesses
• Xero: Most value for money option for micro-businesses
• FreshBooks: The most user-friendly and simple to use accounting software
• Wave: Best free accounting software for a small business

2. Which accounting software is the easiest to use?

FreshBooks is one of the easiest accounting software to use, perfect for beginners. It is especially useful for freelancers and self-employed professionals.

3. What software do most accountants use?

QuickBooks, Xero, FreshBooks, and Zoho Books are some of the most popular small business accounting software used by accountants worldwide.

4. Which is the best free accounting software?

Wave is the best free accounting software solution for a small business as it offers tons of invoicing, accounting, and banking features for free.

Here are our top five picks for free small business accounting software:

• Wave: Best free accounting software overall
• Zoho Books: Best free accounting software with mobile access
• LessAccounting: Best free software in terms of user-friendliness
• ZipBooks: Best free accounting software for invoicing for small businesses
• GnuCash: Best free open source accounting software

5. What are the key features of the best accounting software?

Here are some of the features of the best accounting software for a small business:

• Core accounting and general ledger
• Unlimited custom invoicing
• Bank reconciliation
• Multi-currency payments
• Inventory management
• Income and expense tracking
• Time tracking
• Mileage tracking
• Contact management
• Multi-user and multi-device access
• And more!

Wrapping Up

Accounting and bookkeeping are the two most tedious, yet important business functions, especially for a small business. But if you have the right accounting software to help you, these processes can become extremely streamlined.

Choose from our top picks for the best accounting software for a small business and manage your accounts like a pro. Compare the features, user-friendliness, customer support, and compatible devices before you make a selection.

Also, don’t forget to utilize the free trials before you commit to any tool. It will help you check out the user interface and understand how easy or difficult it is to use a particular tool.

Which accounting software solution will you choose? Comment below.

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