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16 Best Accounting Software for Startups in 2024

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Many business owners believe that accounting software is only beneficial for large businesses. They assume it’s a luxury beyond the reach of startups. But the truth is that businesses of all sizes can take advantage of accounting software, and that includes startups.

Accounting software for startups isn’t just a necessity; it’s a strategic advantage in navigating the complex financial space and establishing strong customer relationships.

The best part is that these tools offer tailored solutions, scalable to the unique needs and increased growth trajectories of startups.

If you’d love to know the top 16 accounting software for startups in 2024, keep reading. These are the options that, according to our extensive research, can cater specifically to the dynamic needs of startup companies.

Let’s get started!

How We Choose the Best Accounting Software for Startups

  • Core Accounting Features: Our criteria emphasize platforms that encompass fundamental accounting features, including inventory management and financial reporting. The majority of the accounting software for startups options listed cater perfectly to startups, providing an essential suite of features coupled with additional capabilities.
  • Analytics: Recognizing the importance of analytics and financial reporting, we’ve considered varying levels of analytical capabilities in our chosen accounting software for startups. Each selection offers a blend of robust accounting functionalities and analytical tools.
  • Additional Functionality: Beyond core accounting features, our selection of accounting software for startups embraces a diverse range of software that integrates additional functionalities. This encompasses accounting, along with project management, customer service, marketing, and other versatile features.
  • Pricing: Acknowledging budget constraints for small businesses, we’ve prioritized affordability and included free plan options.
  • Exceptional Customer Support: Recognizing the pivotal role of customer support in the overall customer experience, we’ve selected accounting software for startups that are renowned for their responsiveness and effective support channels. Seamless utilization of accounting tools necessitates reliable customer assistance.
  • Integration Capabilities: Understanding the significance of integrations, our list of accounting software for startups includes essential integration options. Your choice should align with certain small business requirements, ensuring optimal functionality.
  • Customization: Lastly, we’ve evaluated the ease of customizing accounting software to align with individual business needs. Recognizing the importance of flexibility and avoiding common accounting pitfalls, our selections offer varying levels of customization capabilities.

16 Best Accounting Software for Startups

Accounting software helps startups navigate the complexities of financial management. It offers streamlined solutions to contribute to their success.

We’ve compiled a list of 16 of the best startup accounting software for 2024. The list comprises both paid and free accounting software, ensuring there’s an option for every budget.

When choosing the best accounting software for startups, consider factors like scalability, ease of use, and specific features tailored to your business needs.

Let’s dive in!

1. Xero

Xero

Image via Xero

Xero is one of the best online accounting software for startups that helps streamline essential financial data with finesse. It excels in accounting tasks, such as invoice management and bank reconciliation. It also effortlessly captures bills and receipts.

The best part?

Xero collaborates with Gusto to extend its capabilities. It includes comprehensive payroll services for an additional $40.

While this accounting software for startups excels in meeting the needs of small businesses, larger corporations may not benefit as much. Its features are designed specifically with the needs of startups in mind.

Key Features

  • Invoice management
  • Bulk bank reconciliation
  • Bills and receipts tracking
  • Project and expense tracking
  • Inventory and order management
  • Multi-currency transaction capability with detailed analytics and reporting

Pros

  • Intuitive interface for user-friendly navigation
  • Robust invoicing and billing capabilities to reduce errors for startups
  • Seamless integration with third-party applications
  • Efficient bank reconciliation for accurate financial tracking
  • Comprehensive reporting and analytics tools
  • Scalability to accommodate startup business growth

Cons

  • Higher pricing compared to other accounting software for startups
  • Steeper learning curve for complex functionalities
  • Limited customization options for certain reports
  • Additional cost for some advanced features
  • Less intuitive mobile app

Pricing

Xero offers three pricing plans. When you choose the Growing and Established plans, you get 75% off for 3 months.

  • Early: $15 per month
  • Growing: $10.50 per month, then $42 after 3 months
  • Established: $19.50 per month, then $78 after 3 months

Xero pricing

Image via Xero

Usability

  • Easy to use

Tool Level

  • Beginner

2. QuickBooks

Quickbooks

Image via QuickBooks

QuickBooks is one of the best accounting software for startups. It combines affordability with a robust set of features.

This tool can handle a wide range of accounting tasks, such as expense tracking, inventory management, and financial reporting.

Despite not having a free plan, QuickBooks remains a preferred accounting software for startups and freelancers. After all, the platform offers cost-effective starter plans with outstanding features.

Features

  • Income and invoice tracking
  • Streamlined invoice and payment management
  • Simplified tax deductions
  • Comprehensive receipt organization
  • Mileage tracking
  • Cash flow calculations
  • Automated workflows

Pros

  • Affordable plans for various business sizes
  • Intuitive interface for easy navigation
  • Robust invoicing and payment tracking
  • Comprehensive expense and tax management
  • Versatile features adaptable to different industries

Cons

  • No free plan is available
  • May take some time for beginners to learn
  • Limited customization options for some reports
  • Additional cost for some advanced features

Pricing

QuickBooks currently offers a discount across all pricing plans—$1 per month for 3 months. It also offers a 30-day free trial.

Here are the standard pricing plans:

  • Simple Start: $18 per month
  • Essentials: $27 per month
  • Plus: $38 per month

Quickbooks pricing

Image via QuickBooks

3. FreshBooks

Freshbooks

Image via FreshBooks

FreshBooks is an easy-to-use startup accounting software with advanced features. It streamlines your financial tasks with an easy-to-use interface.

It covers everything from financial management to invoicing and automating repetitive processes.

Affordability is a key feature as it offers advanced tools without a hefty price tag. Perfect for freelancers and solopreneurs, it’s a single-user solution that grows with your business. FreshBooks also allows unlimited invoicing even on the basic plan.

Features

  • Expense tracking
  • Automated invoicing
  • Mobile app for on-the-go management
  • Customizable reports for insightful analytics
  • Integration capabilities with third-party apps
  • Multi-currency support for global flexibility

Pros

  • Efficient invoicing and expense tracking to maintain financial clarity
  • Automated features to save time and reduce human error
  • Affordable plans tailored for budget-conscious startups
  • Robust customer support
  • Continuous updates and improvements for enhanced functionality

Cons

  • Limited scalability for larger businesses with complex needs
  • Less advanced features compared to other accounting software for startups
  • Learning curve may be steeper for certain functionalities
  • Limited integration options

Pricing

FreshBooks offers 60% off for 6 months on all pricing plans, except Select. Here are the standard pricing plans without the discount:

  • Lite: $3.40 per month
  • Plus: $6 per month
  • Premium: $11 per month
  • Select: Custom pricing

Freshbooks pricing

Image via Freshbooks

Usability

  • Easy to use

Tool Level

  • Beginner

4. Zoho Books

Zoho books

Image via Zoho Books

Zoho Books is a versatile accounting software that simplifies financial management for startups.

It provides functionality for essential tasks like invoicing, order and payment management, and credit notes.

With advanced features like inventory management and in-depth analytics, Zoho Books caters to diverse business needs.

The platform’s seamless integration with other Zoho Suite tools ensures a comprehensive and unified solution for efficient business operations.

Features

  • Invoice management with up to 1,000 invoices annually in the free plan
  • Online and offline payment processing
  • Expenses and mileage tracking
  • Bank reconciliation
  • Automated payment follow-up reminders
  • Basic analytics and reporting
  • Integration with Zoho apps and select third-party applications
  • Advanced inventory management

Pros

  • Free plan with essential features
  • High scalability for startups
  • Seamless online and offline payment options
  • Effortless expense and mileage tracking to reduce errors
  • Advanced inventory management capabilities
  • Integrated with Zoho and select third-party apps

Cons

  • May be challenging for new users to learn
  • Some advanced features are limited to paid plans
  • May not be as customizable as other accounting software for startups
  • Limited integration options

Pricing

Zoho Books offers a free plan for businesses with a yearly revenue of less than $50,000.

  • Free: $0 per month
  • Standard: $20/organization/month
  • Professional: $50/organization/month
  • Premium: $70/organization/month
  • Elite: $150/organization/month
  • Ultimate: $275/organization/month

Zohobooks pricing

Image via Zohobooks

Usability

  • Has a bit of a learning curve

Tool Level

  • Intermediate

5. Oracle NetSuite 

Oracle NetSuite

Image via Oracle NetSuite

NetSuite ERP is a robust cloud accounting software that transcends traditional financial management.

Seamlessly integrating with broader enterprise functionalities, it unifies essential business processes into a centralized platform.

NetSuite ERP streamlines financial operations, offering comprehensive modules for accounting, invoicing, and expense management.

Its real-time analytics empower informed decision-making, while automated workflows enhance efficiency.

Features

  • Unified platform for enterprise resource planning
  • Accounting module for comprehensive financial management
  • Streamlined invoicing
  • Real-time data analytics
  • Order management
  • Expense management tools

Pros

  • Integrated business processes to ensure data is automatically updated
  • Real-time analytics enabling data-driven decisions
  • Automated workflows for enhanced operational efficiency
  • Scalable solution to cater to evolving business needs
  • High level of customization and flexibility

Cons

  • Steeper learning curve for new users
  • Potentially time-consuming Implementation
  • Higher cost compared to other accounting software for startups
  • Customization may require advanced technical expertise
  • Limited integration with third-party apps

Pricing

  • Netsuite ERP doesn’t display its pricing. You have to contact Netsuite support to inquire.

Usability

  • Has a bit of a learning curve for new users

Tool Level

  • Intermediate

6. Wave Accounting

Wave

Image via Wave

Wave is an exceptional cloud accounting software designed for small businesses. It offers a suite of financial management tools with a focus on simplicity and affordability.

This cloud-based platform helps manage recurring invoices, track expenses, and scan receipts to streamline day-to-day financial operations.

Wave also supports payroll processing, allowing businesses to manage employee payments efficiently.

The software’s robust reporting tools provide insights into income, accounting reports, and overall financial health.

What sets Wave apart is its commitment to free access to core accounting features, making it an accessible choice for entrepreneurs and startups looking for comprehensive yet cost-effective solutions to manage their finances.

Features

  • Recurring invoicing and automatic payments
  • Payroll management
  • Tax payments and filings
  • Direct deposit for employee paychecks
  • Unlimited receipt scanning for expense tracking
  • Unlimited credit card and bank connections
  • On-the-go financial management with the Wave App
  • Access to personalized support with Wave Advisors

Pros

  • Free core accounting tools
  • User-friendly interface for easy navigation
  • Affordable for small businesses and startups
  • Comprehensive features, including payroll processing
  • Robust financial reporting tools for financial analysis
  • Secure cloud-based access for flexibility
  • Active community support for assistance

Cons

  • Limited advanced features compared to other accounting software for startups
  • Payroll service is available only in the US and Canada
  • Potentially basic mobile app functionality
  • Limited integration options with third-party apps
  • Customer support is primarily community-based, lacking live assistance

Pricing

  • Starter Plan: Free
  • Pro Plan: $16/month or $170/year

Wave new pricing

Image via Wave

Here are the prices for add-ons:

  • Unlimited Receipt Scanning: $11 per month for free plan
  • Bookkeeping support: $149 per month
  • Accounting and payroll coaching: $379 one-time fee
  • Payroll: $40 per month for tax service states; $20 per month for self-service states

Usability

  • Easy to use

Tool Level

  • Beginner

7. Sage 50 Accounting

Sage Intacct

Image via Sage

Sage 50 Accounting is a leading cloud-based accounting software, catering to businesses of all sizes with a focus on scalability and financial precision.

This software provides a comprehensive suite for core accounting, invoicing, and expense management. Its real-time reporting and analytics empower users with actionable insights, fostering informed decision-making.

With multi-dimensional capabilities, it adapts to evolving business needs, offering robust project accounting and revenue recognition.

Features

  • Cash flow management
  • Automated bank reconciliation
  • Job cost control via cost codes, unique records, and phases
  • Purchase order monitoring
  • Inventory management
  • Cloud-based accounting for accessibility
  • Unlimited reports on profits, expenses, and more
  • Integration options for seamless workflows

Pros

  • Cloud accessibility to support remote startup setups
  • Automated core accounting processes
  • Scalable solution for businesses of all sizes
  • Comprehensive project accounting functionality
  • Real-time reporting to enhance decision-making
  • Robust revenue recognition capabilities

Cons

  • Implementation may require time and resources
  • Higher costs compared to other accounting software for startups
  • Steeper learning curve for new users
  • Customization options may be too complex for some users

Pricing

Sage 50 Accounting has three plans. For the Premium and Quantum plans, the price increases as you add more users. Here is the pricing for 1 user:

  • Pro: $595/year
  • Premium: $970/year
  • Quantum: $1,610/year

sage pricing

Image via Sage

Usability

  • Has a steeper learning curve

Tool Level

  • Intermediate

8. ZarMoney

ZarMoney

Image via ZarMoney

ZarMoney is a comprehensive all-in-one accounting software that seamlessly integrates invoicing, inventory management, billing, and payment capabilities.

With a user-friendly interface, it simplifies the creation and customization of invoices, allowing convenient customer payments through a “pay now” option.

The platform’s advanced analytics and reporting features, offering over 40 customizable financial reports, empower businesses with insightful data.

Suited for both small and large enterprises, ZarMoney provides powerful tools while maintaining accessibility.

Features

  • Invoicing and inventory management
  • Customizable invoices with a convenient “pay now” option
  • Advanced analytics and over 40 customizable reports
  • Advanced role-based entry system
  • Bank reconciliation
  • Automated sales tax calculation
  • Purchase and sales orders

Pros

  • Comprehensive all-in-one accounting solution
  • User-friendly interface for ease of use
  • Premium plan with extensive features for enterprises
  • Dedicated account representative for personalized assistance
  • Specialized training and priority support for premium users

Cons

  • May have a learning curve for new users
  • Limited customization options for certain features
  • Advanced features may require additional training
  • Some users may find the tool interface too simplistic

Pricing

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

Zarmoney pricing

Image via ZarMoney

Usability

  • Easy to use

Tool Level

  • Beginner

9. AccountEdge

AccountEdge

Image via AccountEdge

AccountEdge is a desktop accounting software designed for small and medium-sized businesses.

Mentioned in the Forbes Best Accounting Software 2024 list, AccountEdge boasts that customers save an average of up to 55% compared to other accounting software for startups.

This desktop-based software streamlines core accounting solutions, including invoicing, expense tracking, and payroll processing.

AccountEdge ensures accuracy with cash management and provides detailed financial statements, providing insights into business performance.

Its multi-user capabilities facilitate collaborative financial management, while inventory tracking and management features enhance control over stock.

Features

  • Invoicing and expense tracking
  • Bank reconciliation
  • Payroll management
  • Pay employees by direct deposit or check
  • Inventory management
  • Job and budget tracking
  • Multi-currency support
  • Contact management
  • Time billing
  • Data management
  • Connect from anywhere with AccountEdge Connect and Hosted

Pros

  • Robust financial management for small to medium-sized businesses
  • Desktop accessibility for offline use
  • Multi-user capabilities to enhance collaboration
  • Accurate inventory tracking to enhance stock control
  • Flexible integration with various business applications

Cons

  • Lack of a mobile app
  • May have a steeper learning curve for new users
  • Limited functions for cloud-based option
  • Limited scalability for larger enterprises

Pricing

  • Pro: $20/month
  • Network Edition: $30/month
  • Hosted: $40/month

AccountEdge new pricing

Image via AccountEdge

Usability

  • May have a learning curve for new users

Tool Level

  • Expert

10. OneUp

OneUp

Image via OneUp

Boasting a 95% automation rate, OneUp is another stellar bookkeeping software, specifically designed for small businesses seeking streamlined financial operations.

Addressing the challenges of financial accounting for startups, OneUp excels in automation, significantly reducing the time invested in tasks like syncing with business bank accounts and validating entries effortlessly.

It also includes an automated inventory management tool that helps facilitate quick order reviews and seamless communication with suppliers.

Upon vendor shipment, real-time updates across Square and other integrations ensure accuracy.

What sets OneUp apart is that it offers a full set of features at an affordable price, making it an ideal and cost-effective choice for startups.

Features

  • Full-cycle invoicing solution
  • Built-in email system
  • Automated inventory management
  • Bank reconciliation
  • Cash flow statements
  • Periodical sales tax calculation
  • Integrated CRM

Pros

  • Allows recurring invoices
  • Affordable pricing for small businesses
  • User-friendly interface for ease of use
  • Cloud-based accessibility for convenience
  • Available on mobile and desktop
  • Offers identical features across multiple devices

Cons

  • May lack some advanced features
  • Limited scalability for larger enterprises
  • Limited integration options

Pricing

OneUp offers a 30-day free trial that includes all features.

Aside from that, here are the pricing plans:

  • Self: $9/month for 1 user
  • Pro: $19/month for up to 2 users
  • Plus: $29/month for up to 3 users
  • Team: $69/month for up to 7 users
  • Unlimited: $169/month for unlimited users

OneUp pricing

Image via OneUp

Usability

  • Easy to use

Tool Level

  • Expert

11. ZipBooks

zipbook

Image via ZipBooks

ZipBooks is a free and user-friendly accounting software designed to streamline financial management for businesses.

With an enduring free plan, users can send unlimited invoices, manage customers seamlessly, access basic reports, and connect to one bank account.

Easily create invoices that are professional and visually appealing. Efficiently track client payments, invoice history, late balances, and taxes.

The platform doesn’t stop at bookkeeping; it provides actionable insights through detailed financial reports and analytics.

Affordable paid plans unlock additional features for enhanced functionality. ZipBooks empowers businesses with the tools they need to manage finances effectively and make informed decisions in their entrepreneurial journey.

Features

  • Enduring free plan with unlimited invoices
  • Expense management
  • Customer management
  • Bank connect and reconciliation
  • Team management
  • Time tracking
  • Smart tagging
  • Basic reporting for financial insights
  • Client payment tracking
  • Invoice history monitoring
  • Integrated late balance and tax tracking

Pros

  • Free starter plan for basic financial management
  • Unlimited invoices and customer management
  • Mobile app for on-the-go financial management
  • Affordable paid plans with enhanced features
  • User-friendly interface

Cons

  • Lacks payroll management
  • Basic customization options
  • Learning curve for advanced features
  • Limited integration options

Pricing

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

ZipBooks pricing

Image via ZipBooks

Usability

  • Easy to use

Tool Level

  • Beginner

12. Kashoo

Kashoo

Image via Kashoo

Kashoo is a powerful double-entry accounting software that redefines financial management for small businesses.

This cloud-based platform simplifies complex accounting processes, offering features like invoicing and bank reconciliation with ease.

Kashoo’s intuitive interface ensures accessibility for users with varying accounting expertise.

Users can effortlessly create and send professional invoices, track expenses, and reconcile bank transactions for accurate financial reports.

The software’s real-time reporting provides insights into business performance to help startups make informed decisions.

With affordable pricing plans, Kashoo emerges as an ideal solution for businesses seeking efficient, user-friendly accounting tools that seamlessly adapt to their evolving financial needs.

Features

  • Advanced accounting
  • Automated accounting
  • Simplified accounting
  • Expense tracking and budgeting
  • Invoice templates
  • Connect to over 5,000 banks and credit unions in real-time

Pros

  • Streamlined invoicing and expense tracking for lean startup operations
  • Intuitive interface for easy navigation
  • Real-time financial reporting
  • Multi-currency support for global businesses
  • Scalable to meet evolving business requirements

Cons

  • May lack some advanced features
  • Learning curve for new users
  • Limited integrations with third-party apps
  • Mobile app functionality may be basic

Pricing

  • To access Kashoo, you have to pay $324 yearly.

Kashoo Pricing

Image via Kashoo

Usability

  • Has a bit of a learning curve

Tool Level

  • Intermediate

13. Odoo

Odoo accounting

Image via Odoo

Odoo, a comprehensive business management suite, extends its prowess to accounting, delivering a seamless financial solution for enterprises.

This all-in-one platform integrates core accounting features, including invoicing, expense tracking, and bank reconciliation.

Odoo’s modular structure allows businesses to customize their accounting setup to ensure scalability and adaptability to diverse financial needs.

The software’s real-time reporting capabilities provide valuable insights for strategic decision-making.

Odoo stands out for its holistic approach, covering not only accounting but also other business aspects. It is ideal for organizations seeking an integrated solution that unifies financial processes with broader operational functionalities.

Features

  • Smart AI matching
  • Smart bank reconciliation
  • Advanced invoice data capture powered by AI
  • Integrated invoicing and expense tracking
  • Automated bank reconciliation for accuracy
  • Real-time financial reporting for insights
  • Multi-currency support for global transactions
  • Integration with other business modules

Pros

  • Supports up to 28,000 banks
  • Fast interface
  • Provides customizable solutions for startups
  • User-friendly interface ensures accessibility
  • Cloud-based accessibility

Cons

  • Complexity may pose a learning curve
  • Customization may require technical expertise
  • Possibly less intuitive interface for some users
  • Limited customer support options for certain plans

Pricing

Both Standard and Custom plans include all apps for one fee, including sales, marketing, accounting, HR, CRM, inventory, and more.

  • One App Free: $0
  • Standard: $7.25/user/month
  • Custom: $10.90/user/month

Odoo new pricing

Image via Odoo

Usability

  • Easy to use

Tool Level

  • Beginner

14. ClearBooks

ClearBooks

Image via ClearBooks

ClearBooks is the UK’s leading dynamic accounting software for startups, supporting over 15,000 small businesses. It’s also crafted to streamline financial management for businesses of all sizes.

With a user-friendly cloud-based platform, ClearBooks simplifies complex accounting tasks through invoicing, expense tracking, and bank reconciliation features.

ClearBooks goes beyond standard bookkeeping. It provides real-time reporting for actionable insights into business performance.

Features

  • Expense tracking
  • Bank reconciliation
  • Real-time reporting
  • Multi-currency support for global transactions
  • CIS accounting
  • Payroll management
  • Automated VAT returns for compliance
  • Integration with various business applications

Pros

  • Cloud-based accessibility for flexibility
  • Streamlined invoicing and expense tracking to reduce errors
  • User-friendly interface to ensure accessibility
  • Simplified compliance through automated VAT returns

Cons

  • The refunds and credits system is somewhat hard to understand
  • Some reports need some work
  • Pricier than most accounting software for startups

Pricing

  • Small: £6.50 per month
  • Medium: £14 per month
  • Large: £17 per month

ClearBooks pricing

Image via ClearBooks

Usability

  • Has a bit of a learning curve

Tool Level

  • Intermediate/Expert

15. Patriot

Patriot

Image via Patriot

If you need reliable and easy-to-use accounting software for startups, Patriot is an ideal choice.

With a user-friendly interface, Patriot simplifies accounting and payroll tasks, such as invoicing, expense tracking, bank reconciliation, financial reporting, payroll processing, and ensuring compliance with tax regulations.

True to its innovative nature, Patriot also owns the patent on toggling between accrual and cash-basis accounting.

Although it doesn’t provide a mobile app, Patriot’s 100% cloud-based platform enhances accessibility. It allows users to manage their finances anytime, anywhere.

On top of accounting and payroll, users can add time and attendance tracking and HR features.

Features

  • Unlimited invoicing
  • Expense tracking
  • Bill payments
  • Financial reporting
  • Bank reconciliation
  • Toggle between accrual and cash-basis accounting
  • Customizable payroll

Pros

  • All USA-based customer support
  • Provides a 30-day free trial
  • No training required
  • Unlimited users

Cons

  • Doesn’t have a mobile app
  • Customer support can sometimes take a while to respond
  • Limited integrations

Pricing

Patriot offers a 30-day free trial.

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

Patriot new pricing

Image via Patriot

Usability

  • Easy to use

Tool Level

  • Beginner

16. GnuCash

GnuCash accounting

Image via GnuCash

Licensed under the GNU GPL, GnuCash is another one of the best free accounting software for startups. Compatible with Linux, Solaris, Mac, Microsoft Windows, and various other platforms, Gnucash is a versatile choice.

Its extensive feature set includes core accounting functionalities, invoicing, expense tracking, and financial reporting.

Regularly updated by a dedicated community of developers, GnuCash ensures continuous improvements and adaptability.

While lacking dedicated customer support, its open-source nature fosters a collaborative environment, making it an excellent choice for those who value flexibility and community-driven development in their accounting software.

Features

  • Scheduled transactions
  • Invoicing capabilities
  • Expense tracking
  • Financial reporting tools
  • Double-entry accounting system
  • Budgeting and forecasting
  • Investment and portfolio tracking

Pros

  • Free forever
  • Compatible with numerous operating systems
  • Community-driven updates
  • Double-entry accounting accuracy
  • Investment tracking capabilities

Cons

  • Limited customer support due to its open-source nature
  • Interface may appear dated
  • Less industry-specific customization
  • Occasional complexity for non-accountants

Pricing

GnuCash is completely free.

Usability

  • Has a steep learning curve

Tool Level

  • Expert

FAQ

Q1. Which accounting tools are best for startups?

The best accounting software for startups varies depending on the company’s specific needs. However, these are our top five picks based on certain criteria.

  • Zoho Books: Tailored for accountants needing seamless mobile access
  • QuickBooks: Recognized as the best overall solution, suitable for various business types
  • Xero: Offers exceptional value, particularly beneficial for micro-businesses
  • FreshBooks: Known for its user-friendly interface and straightforward accounting
  • Wave: The go-to free accounting software for small businesses

Q2. What essential features define the best accounting software for startups?

The best startup accounting software should include core accounting and general ledger functionality, invoicing capabilities, bank reconciliation, multi-currency support, expense tracking, and financial reporting features. These features are necessary for almost every startup business.

Q3. Which accounting tools are mostly used by startups?

QuickBooks, Xero, and FreshBooks are frequently embraced by startups for their user-friendly interfaces, robust features, and scalability.

Q4. Is QuickBooks a good accounting tool for startups?

Yes, QuickBooks is a widely used and trusted accounting tool for startups.

Its user-friendly interface, comprehensive features, and scalability make it an excellent choice for managing the financial aspects of a startup business.

Q5. Which accounting software is the easiest to use?

FreshBooks is known for its user-friendly design. Its intuitive interface simplifies accounting tasks, catering to users with varying levels of financial expertise. Even non-accounting experts can easily figure out how to use FreshBooks.

Final Thoughts

Accounting is one of the most important aspects of the journey of a startup, particularly during the early stages. It ensures financial health, regulation compliance, and strategic decision-making according to reports and analytics.

Startups may not be able to afford an accountant or bookkeeper yet. This is where startup accounting software comes in handy. It can help streamline and simplify this crucial process.

We’ve highlighted the 16 best accounting software for 2024 that we believe offer a diverse range of features catering to the specific needs of startups.

Remember to identify what your startup needs and utilize the free trial before you fully commit to a platform. We wish you luck as you embark on this exciting financial management journey for your startup!

Brett Shapiro

Brett Shapiro

Brett is an entrepreneur with over a decade of experience in establishing and running successful businesses. Over the course of good career he has established over 10 successful businesses and SBHQ is his latest project. With SBHQ he aims to provide all the useful resources a small business owner may need to create a successful business.

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