Best Small Business Accounting Software & Bookkeeping Apps

Does your small business need some new accounting software? We’ve got a list of the best small business accounting software, followed by a mega list of the best accounting apps for specific industries. 

This article will cover pricing and accounting features and give you quick links to the vendor pages to help you sign up easily to start streamlining your accounting practices.

Best accounting software for small business comparison chart (top 10 highest rated)

Take a look at this table to get an instant idea of our top 10 SMB accounting software options. This accounting software comparison chart is just a foretaste of the more in-depth accounting software reviews below.

What is the best small business accounting software? Here’s our top 10 list:

Now that you’ve seen the overview in the above table, it is time to give more thorough answers to the question of what is the best small business accounting software. The following tools have got your bookkeeping needs covered along with more advanced accounting options.

This list of accounting software will surely have some familiar names, like Xero, Quickbooks, and FreshBooks. Afterward, there will be a second list that will quickly run through the best accounting software for companies working in specific industries, like cryptocurrencies, construction, hospitality and restaurant management, legal and law practices, and nonprofits.
 

1. Intuit Quickbooks Online (Best small business accounting software overall)

QuickBooks is one of the most well-known accounting solutions. It’s made by the US financial software company Intuit, which also makes TurboTax.

Quickbooks came out in 1983 as one of Intuit’s flagship products. At one point, Quickbooks had three-quarters of the market share in their industry. But the recent entry of new online accounting systems has beefed up the competition.

If you're searching for a good QuickBooks alternative, consider GnuCash, which isn’t mentioned in this article but makes a great option for personal and small business finance management. You can learn more about the differences and similarities between these two in our QuickBooks vs GnuCash comparison.

Pros:

Quickbooks has full solutions for everything from accounting to inventory management. You get tons of features to manage payments and payroll services, including church-specific accounting features. That’s why it’s one of the best church accounting software as well.

You can do job costing and time tracking. Managing bills, calculating sales tax, and invoicing is a snap with Quickbooks. 

For payables, you can handle credit cards, eChecks, PayPal, mobile payments, and point of sale. Quickbooks even has options that connect you with a live bookkeeper. 

Quickbooks has desktop versions for Mac and Windows and mobile apps for iOS and Android.

Cons:

You’ll need the best plan for great business analytics and insights. 

There are no free trials.

Pricing:

There are four plans usually ranging from $30 to $200 per month, although there are often deals such as 50% off.  

Quickbooks Review 

Visit Quickbooks

2. Wave (Best free accounting software for small business) 

Wave is a Canadian software company that got off the ground in 2009. It began offering free online accounting software. The platform grew to include many tools for double-entry bookkeeping and other financial services like payment processing.

Pros:

The Wave platform offers you a free basic accounting suite. It lets you manage all your expenses and track your income. You can create customizable invoices and monitor their payments. 

Wave lets you accept credit card payments as well as online bank transfers. It allows you to do payroll and calculate taxes. You can also manage paying outside contractors. Additionally, you can send and manage receipts. 

Overall, this is a solid free platform for basic accounting needs, but not loaded up with too many advanced features. Wave can also provide expert accounting coaching by real advisors. 

Wave has mobile apps which let you handle most features, like sending receipts. There are many Wave suites you can always use for free, including accounting, invoicing, and receipt scanning. 

Cons:

Once you get over their free plan, it can be difficult to maintain a low per-month cost due to the pricing structure.

Pricing:

Invoicing, accounting, and banking are totally free. 

Other Wave tools are pay-per-use or transaction. 

Bookkeeping support starts at $149.

Wave Accounting Review 

Visit Wave Apps

3. FreshBooks (Best bookkeeping software for small business)

Freshbooks is not part of the Freshworks brand, but it is rather its own solid and user-friendly invoicing and accounting software. Its functionality is geared toward the small business owner. The company has been around since 2003 and launched the platform one year later. They’re headquartered in Toronto. 

Pros:

FreshBooks is one of the best small business bookkeeping software. There are mobile apps for Android devices and iPhones. With FreshBooks, you get all the basics for double-entry accounting like invoicing and billing. You can also do expense tracking, time tracking, budgeting, and estimates. 

Accounting features include balance sheets, accounts receivable and payable, and general ledger tools. You could set up basic accounting tasks with automations with FreshBooks for things like payment reminders to automatic credit card charges. FreshBooks helps with project management too. It streamlines communication and task delegation. 

This accounting app has lots of customization options. It’s got decent financial reporting functions. FreshBooks is popular with Amazon eCommerce sellers too.

Cons:

For things like inventory tracking, you’ll need an app integration. 

If you want advanced automations, you’ll need a more premium package.

Pricing:

FreshBooks Lite begins at $7.50, Plus is $15.50, and Premium is $27.50, all per month. If you have complex business needs, you can get custom pricing. There are free trials on all the plans. 

Freshbooks Review 

Visit Freshbooks

4. Xero (Best simple accounting software)

Xero is accounting and bookkeeping software that hails from down under. It’s been around since the mid-2000s. Today it also has offices in the UK and the US. As of 2019, the company was boasting over 2 million users. Xero is used in over 18 countries. This one was a tough contender for that best overall spot. 

Pros:

Xero is often regarded as the simplest accounting software, as the tool makes it easy to manage tracking and paying bills. You can handle claims and expenses and even do reimbursements. The tool also allows you to speed up bank transactions by connecting Xero to your bank. This also includes bank reconciliation functionality. 

When it comes to payments, Xero works with Stripe and other payment processing tools. You also get multi-currency payment processing. This basic accounting software for small business also lets your customer pay with PayPal. 

Xero is a project-tracking tool for accountants. You get quotes, invoices, sales tax, time tracking, and profitability tracking. This easy accounting software for small business lets you do employee payroll easily. More advanced tools let you create workflow automations for bookkeeping. 

There’s also Xero mobile accounting from the Apple store or the Google Play store. 

Cons:

While many small companies like startups find Xero a simple and user friendly tool for accounting, some may want a more advanced platform when they grow.

Pricing:

Xero has a free trial on offer. 

There are three pricing plans - the least expensive one starting at $12 per month. 

Xero Review 

Visit Xero

5. Sage (Top SMB accounting software)

The Sage Group is a multinational business software company from the UK. After Oracle and SAP, Sage makes the next largest ERP solution. The company is part of the FTSE 100 index. Sage has many accounting software options for small and large businesses.

You’re very likely to find Sage on numerous cloud accounting software comparison articles, as the tool is packed with excellent features. But, it also has several drawbacks.

Pros:

There’s everything starting from double-entry accounting. Set up invoices and keep track of when they get paid. You can accept payments with Stripe. 

Sage Accounting tracks your financial data. It uses this for forecasting future cash flows. You can connect this to your bank to streamline transactions effortlessly. 

Real-time reporting covers profits and loss statements. It also gets you at-a-glance balance sheets. There’s inventory management within the tool as well. 

You can also use Sage to capture receipts or bills with mobile apps. The tool then scans and auto-fills the data entry in your files. 

Sage Accounting has mobile versions for iOS and Android. 

Cons:

As a cloud-based accounting solution, there are simpler tools out there than Sage.

There is no free plan.

Pricing:

There are only two pricing packages. They are $10.00 and $25 per month. The premium packages sometimes have deals like 70% off for 6 months. You can also try Sage Accounting for free. 

Sage Accounting Review

Visit Sage Accounting

6. ZipBooks (Great accounting program for small business)

ZipBooks is a relatively new online bookkeeping platform. It was launched in 2017 out of Utah. It’s known to offer a great user experience. However, this is a basic platform with only core tools. It doesn’t have many more advanced features for accounting.

Pros:

ZipBooks has four major categories of tools on offer. Accounting services keep track of all your billable expenses, transactions and balances. 

There is a tool for intelligent feedback that provides AI advice on how to streamline your operations.

 For billing, you can create branded invoices. ZipBooks also offers intelligent ‘invoice quality scoring.’ It helps you decide how to create and send invoices to maximize payments. You get tools to manage expenses, receipts, and even 3rd-party vendors you deal with regularly. 

Finally, ZipBooks has a range of business intelligence features. There is a mobile app that lets you do billing and other tasks. It runs on both iOS and Android. 

Cons:

Payroll tools are lacking. 

Not too many integrations, though you can always use a connector like Zapier.

Pricing:

A free version of ZipBooks gets you unlimited invoices, but only lets you connect one bank. 

Premium versions begin at $15 per month. 

Zipbooks Review 

Visit Zipbooks

7. myBooks (Good online accounting for small businesses)

myBooks is small business online accounting software from the Indian software company Zetran. Zetran also makes myPlan, which is financial planning software. It also makes myStaff, which is for HR purposes. myBooks is available in India, the USA, Canada and many more countries.

Pros:

myBooks makes it quick and easy to connect your bank to the platform. You can import your transactions for more streamlined monitoring. 

Much of the platform centers around the myBooks accounting dashboard. Here you get real-time, up-to-date data on your financial health. You can see cash flow, expenses, profits, and loss projections too. 

There are tools to help with handling your taxes. Currency management is also available. You get good contact management which can work like a basic CRM. There are also templates that can be used to create custom invoices. 

Cons:

There could be a bit of a learning curve for some users.

For some reason, it’s hard to get pricing in local currencies.

Pricing:

myBooks has a free plan. It is good for just one user and allows for up to 25 monthly transactions. 

The basic price is $4.99 per month, but for the most current prices, check with the vendor directly. There is also a myBooks free trial. 

Visit MyBooks 

8. Kashoo (Top finance software for small business)

Kashoo comes out of Vancouver on Canada’s west coast. The founders of Kashoo had one goal in mind: to make accounting software for the layperson to use. This is not a platform for CPAs and professional bookkeepers. Kashoo also has a great resource center with blog posts about accounting basics.

Pros:

Kashoo begins with a smart tool to streamline double-entry accounting. It analyzes and categorizes transactions. This keeps you above board with the IRS (in the USA) or CRA (in Canada).

This financial software for small business gets you great expense tracking. The smart inbox sorts all expenses out. You can send invoices and get payments with Stripe or KashooPay. 

Analytics can make reports covering things like cash flow, accounts receivable, accounts payable, and general ledger stuff. Finally, Kashoo connects to over 5,000 banks or credit unions and syncs transactions in real time. 

There are Kashoo mobile apps too. 

Cons:

Lacking a lot of payments and accounting features on the free plan.

Not the most affordable accounting platform.

Pricing:

Kashoo offers a 14-day free trial. You can create a free account for this. 

The full package costs $20 per month, and you can add any number of additional users.

Kashoo Review 

Visit Kashoo

9. Crunch (Good cheap accounting software)

The name of this platform is quite apt. It brings to mind the number crunching that is the core of bookkeeping. And, the best part is that this is one of the cheapest accounting software for small business you can find.

Pros:

Crunch offers an online platform for free accounting and bookkeeping. This self employed accounting software is aimed to freelancers and small business owners primarily.

You can use a mobile app to migrate your banking data to this inexpensive small business accounting software. It’s easy to make and send invoices from mobile too. There’s a Crunch Snap app to take photos of receipts. There are bank reconciliation tools and ones to help with taxes. 

You also get real-time overviews of cash flows, profits, and back-taxes owed. With Crunch, you can request single sessions with an accounting professional.

Cons:

Navigating all the tools and features can be a bit of a headache.

Paying in British Pounds is not everyone’s cup of tea.

Pricing:

The free version of Crunch is pretty sweet for freelancers and the self-employed. 

The premium packages get you more advanced features and start at £24.50 GBP per month, though they regularly have wild promotions, like £1 per month for the first month.

Crunch Accounting review

Visit Crunch

10. Zoho Books (Great accounting and inventory software for small business)

Zoho is a major name in business software solutions. Their many products include CRMs and customer support platforms. It’s a multi-billion dollar enterprise with over 6,000 employees worldwide. Zoho Books is their small business accounting and inventory software.

Pros:

You got payables. This covers purchase orders and expense receipts. There’s inventory tracking that can do reorders and replenishes. 

When it comes to receivables, Zoho Books has got you covered. Create custom invoices, send payment reminders, and offer online payment options. You can connect your bank account. Workflow rules can automate some transactions. 

There are contact features that work like a light CRM. There are also time-tracking and project-management options. Finally, you can schedule regular customizable reports. 

Zoho Books has a Windows desktop version from the Microsoft store, but it’s mostly an online tool. There are mobile apps for iPhone and Android devices. 

Cons:

The Zoho brand is what attracts many people already using other business SaaS from Zoho, but for users new to the brand, it doesn’t necessarily have that special magic.

Pricing:

The pricing starts at $15 per month, billed annually.

Zoho Books Review 

Visit Zoho Books 

Accounting software programs for specific tasks and industries

Now that we’ve gone over the top 10 small business accounting programs for general use, we can look at industry-specific types of accounting software. It’s important to have accounting tools that have niche specialties as no two industries are 100% alike.
 

1. CoinLedger

Cryptocurrencies like Bitcoin and Ether are a whole new ball game and need their own specialized crypto accounting tools. CoinLedger is probably the best crypto tax software, although crypto accounting solutions like Koinly and Accointing are good too.

CoinLedger makes it easy to track your crypto portfolio, do your tax reports with your crypto earnings and losses, and handle other digital assets like NFTs. You can sync up your crypto wallets and crypto exchanges into one neat dashboard with CoinLedger. 

CoinLedger starts at $49.

Visit CoinLedger 

2. Neat 

Most of our top picks above work great with Mac, like Quickbooks, Xero and FreshBooks. However, Neat is the app that works the best for Mac users.

Neat is another accounting, invoicing, and financial document management platform that works perfectly with all Apple devices, including iPads and iPhones. However, it is the best accounting software for Mac users.

Its functions and shortcuts work really smoothly for the seasonal Mac user. You get accounting tools that are neat and simple, cut down on unproductive work hours, reduce unnecessary office waste, and more.

Neat costs $24 per month, billed annually.

Visit Neat 

3. Procore

Construction management software has its own special accounting business needs. There are a lot more things like inventory, purchasing, transportation logistics, and HR concerns. Procore is a leading construction management app with the right accounting software. BuilderTrend is also great. 

Procore is good for unlimited users, and you also get unlimited data and customer support, making it the best construction accounting software. This construction accounting solution can be used by general contractors, subcontractors, owners, and even governments. You can handle all your accounting and financial data management with Procore and also get access to tons of integrations.

Contact Procore for a custom quote.

Visit Procore 

4. Acumatica

ERP, or enterprise resource planning, is a major SaaS component of any large company or organization, especially with multiple departments and huge workforces in offices spread out in many locations. You are probably familiar that names such as Sage, Dynamics 365, SAP, and Oracle are big for ERP. But here, let’s discuss Acumatica.

Acumatica is a recognized winner for ERP for SMBs in many industries in manufacturing, distribution, retail, and anything with complex business operations that requires lots of data analysis and reporting. Acumatica is fully in the cloud, too, for easy access and security. Undoubtedly, this software wins our title for the best enterprise accounting software.

Contact Acumatica for demos and pricing.

Visit Acumatica 

5. Odoo Accounting

Odoo is fully open-source, meaning the code underneath it all is available for devs to use and build upon to fit their business needs. Along with accounting tools, you can use Odoo for CRM, sales, HR, e-commerce, inventory management, and field services.

Odoo accounting has a fine mobile app that’s got a clear interface and intuitive functions. You can do banking reconciliation, manage expenses from multiple accounts, and handle billing, invoicing and payments. There are tax reports and tax audit tools, and more advanced cash flow statements and balance sheets. Over 7 million users enjoy the open source accounting solution provided by Odoo, proving that this is the best open source accounting software.

Odoo Accounting is free.

Odoo review

Visit Odoo Accounting 

6. Nonprofit Core

Nonprofits and other charitable industries require accounting software like any other. While many standard accounting tools let you run your nonprofit, there are some dedicated apps for this industry. Nonprofitcore is one of the best.

You can use Nonprofitcore to handle your fundraising. It is also useful as a basic CRM. When it comes to accounting, you get tools like grant tracking, real-time financial data, event planning and collaborating, stakeholder trust and engagement features, and a good tool to handle compliance and security. With all these features, Nonprofit Core is undoubtedly one of the best accounting software for nonprofits.

Contact Foundant Technologies for Nonprofitcore pricing.

Visit Nonprofitcore 

7. NerdWallet

Churches, mosques, synagogues, and other places of religious worship can benefit from tax and accounting apps. This Is another case where a lot of standard platforms can do the job, and NerdWallet is one of them.

Churches can manage all their savings, donations, credits and investments easily with NerdWallet. There are good mobile apps for pastors or reverends to use on the go. NerdWallet also has solid tax calculators for churches to figure out their deductions. In addition, the fact that NerdWallet is packed with features that come free of charge makes this tool the best church accounting software there is.

You can download NerdWallet for free.

Visit NerdWallet 

8. Persefoni.com

Carbon accounting solutions are part of larger climate management platforms. Persefoni is considered the number one tool for carbon accounting. It’s a necessary kind of software for facing the future of climate challenges.

You can use Persefoni for financed emissions calculations that figure out carbon footprints. There are carbon accounting basics like greenhouse gas inventory management. A climate impact and benchmarking module is useful, as is climate trajectory modeling, making Persefoni one of the best carbon accounting software.

Contact Persefoni to request a demo or pricing.

Visit Persefoni 

9. Tailwind 

TMS, or transport management systems, help with trucking, shipping, distribution logistics, and many more things. Trucking accounting tools form a key module in TMS, handling things like accounts payables and receivables, accounting and operations reporting, and more.

Tailwind is a leader in TMS and accounting solutions for the trucking industry and perhaps the best trucking accounting software. You can use it for business document management, claims, incidents and accident tracking, dispatch and shipping, fuel bill importing, mileage calculations, and as a customer and vendor database, along with more accounting features.

Tailwind starts at $99 per user per month, billed annually.

Visit Tailwind 

10. Akaunting 

Whether you are a solo entrepreneur, a freelancer, or any other form of self-employed worker or business, you cannot skimp out on accounting software. Akaunting is a great open-source and free self-employed accounting solution, but it is not the only one.

You can sync all your bank accounts with Akaunting, run the finances of several of your businesses in one place, set up client portals for your network to access information on their own, get great analytics and reporting on your accounting health, and do the basics like payments and taxes.

All these features make Akaunting one of the best open source accounting software for self employed, freelancers, and solopreneurs.

Akaunting is free, but there is also a superior plan at $24 per month billed annually.

Visit Akaunting

11. FarmBooks Accounting Software

A farm is like any other business, in fact, it may be one of the most important businesses when it comes to reproducing society, far more important than banking or insurance or B2B marketing, right? Farm accounting software is as necessary as a good hoe.

FarmBooks Accounting Software does your standard accounting tasks but is geared for the farming industry. Register accounts and get full stats on earnings and expenditures. You can do paychecks to vendors as well as payroll to farmhands. Billing estimates, tax statements and asset and liability trackers are also on offer, making FarmBooks the best farm accounting software.

FarmBooks Accounting Software costs $395 for one farm, and if you run more than one farm, contact them for a custom price.

Visit FarmBooks 

12. CosmoLex

CosmoLex is more than merely accounting software. It is a full suite of apps for legal practice management, making it one of the best legal accounting software currently available. Undoubtedly, accounting features are a serious aspect of this platform, with CosmoLex having separate modules for law business accounting and trust accounting.

Law office accounting tools include general ledger and cash flow analysis, legal-specific charts, automatic invoice payments, accounts payable tracking, and more. There is also credit card processing, fee collection, and bank reconciliation. All these features are more than enough to rank CosmoLex as one of the best legal accounting software.

CosmoLex costs $85 per user per month, billed annually. 

Visit CosmoLex 

13. Black Owl Systems

Black Owl Systems is a full-scale lease accounting solution. It helps business operators maintain compliance with things like ASC 842 and IFRS 16 guidelines. It has tools for both lessors and lessees, is good with fixed and variable payment plans, has lease-change and lease-end management tools, handles audit trails, and operates with multiple currencies.

Black Owl is not alone in this category; other useful apps include Leasecake and LeaseQuery. However, Black Owl is considered by many to be the very best lease accounting software.

Contact Black Owl Systems for pricing.

Visit Black Owl Systems 

14. Buildium

Real estate and property management software solutions cover a lot of diverse features. Accounting and tax management is a central module in such platforms. They handle real estate business operations, leasing, marketing, and accounts.

Buildium is a leader in real estate and property accounting software. You can use it for property accounting, including fee, deposit, and refund tracking, work orders and bills, automatic online payments, and more. There are also e-signatures and 1099 e-filing tools. All in all, we can confidently say that Buildium is one of the best real estate accounting software you can find.

The Essential Buildium plan starts at $59 per month.

Visit Buildium 

15. Propertyware

Property management accounting and real estate accounting have many overlaps and it is not uncommon to see the same software vendors vying for both markets. Porpertyware is going to take the top spot as the best property management software, but take into account other options.

Propertyware charges per property unit per month, so if you run only a few properties, your monthly bill will be very reasonable, though there is a minimum. Alongside regular accounting features like payables and receivables, fees, reconciliations, cash flow accruals, and budgeting, you also can use other property management features.

Propertyware starts at $1 per unit per month with a $250 monthly minimum.

Visit Propertyware 

16. Oracle NetSuite

Oracle is a giant in the business SaaS world. NetSuite is Oracle’s ERP software, or enterprise resource planning. It is good for many industries, like restaurants and hotels. As for a hospitality and hotel accounting app, you can’t do much better than NetSuite unless you are on a budget. If you’re not, then this is the best hotel accounting software you can get.

You can run hotel franchise accounting across many locations. There are procurement tools, inventory features, fixed asset management, and even CRM marketing modules. Using an accounting tool like NetSuite to run hotels and tourism businesses is efficient and highly organized. 

Contact Oracle NetSuite for prices.

Oracle NetSuite Review 

Visit Oracle NetSuite 

17. Restaurant365

As mentioned above, you can use a total ERP for the hospitality or restaurant industries. But if you want restaurant accounting software that is specifically designed for your food business, then something like Restaurant365 is a great software choice.

You can automate accounts payable so you never miss a bill, connect the platform to your bank or multiple accounts, stay on top of your fixed assets like heavy equipment, plan your budgeting with smart forecasting and get regular reports on your restaurant business’s financial health. If you’re running a restaurant and looking for great software then Restaurant365 is the best restaurant accounting software you can find.

Restaurant365 starts at $399 per location per month, billed annually.

Visit Restaurant365 

Which small business software for accounting is best for me? Our conclusion

The answer to which accounting app is the best for your small business is never a simple one. Sure, big names like Xero, Quickbooks, and Freshbooks will always compete for a top spot. But maybe you’ve discovered something more niche in this article which will be a better-suited accounting software for your business needs, be it a self-employed operation, a startup, or an SMB on the rise.

The best small business software for accounting depends on your business type, plans, and goals. We hope that we have provided you with plenty of options to make the best choice!

On the other hand, if you’re looking for more options that can help you keep an eye on your personal finances as well, make sure to check out our list of best personal finance software.