Keeping track of business income and expenses is important for the following reasons:
It makes tax compilation easier and saves more time
It lowers your tax.
Below are the top accounting software in you can choose from for your business or organization
QuickBooks from Intuit
QuickBooks is one of the accounting software packages with full features. It can be used for a wide array of business and business needs.
To understand QuickBooks, you need to go through guides, videos, tutorials and other information on how QuickBooks works. Due to the wide range of usage and acceptance of QuickBooks, access to videos, tutorials and other materials on how it works can be quite easy.
QuickBooks is available in windows, MacBook and online version. The MacBook version does not have all of the features available in Windows and Online version.
Cost of access to the online version of QuickBooks ranges from $5 for the self-employed version to $25 for the Plus version, with payment and payroll services costing more.
This is cloud-based accounting software designed for a wide array of businesses with more than 600 integrations for managing payroll, payments, inventory, invoice, etc.
Xero can be used to track the time and money spent on projects accounting for every penny spent on a particular project.
Xero is available in various version starting from the starter version for individual business owners for $9 per month to premium 100 plan for $180 per month.
ZOHO by Zoho Books
Zoho Books is online accounting software for managing the cash flow of small businesses. It features dashboards and graphs that are easy to use and understand, automatic bank feeds that eliminates the need for manual entry of credit cards and bank transaction, automatic payment notifications to remind clients of outstanding payments, invoice distribution and tracking, project management tracking, and a host of other important user-friendly features.
You can choose to purchase Zoho’s basic plan for $9 or the professional plan for $29, based on your needs. Although there are other intermediate versions and plans.
This is free accounting software that works well for basic accounting needs. It features free invoicing, a suite of bookkeeping tools which features payment processing and payroll services.
Wave charges for the use of its payment processing and payroll services.
Sage Business Cloud Accounting
This is an accounting tool designed for small businesses. It helps business owners manage payment processes, estimates, invoicing and price quotations. The app also features cloud storage and access to accounting data.
It is also an important tax management tool, it can give accurate calculations of tax by relying on transaction history and information, predict cash flow, etc.
Sage Business Cloud Accounting is available on Android and iOS devices and it integrates well with other known apps. The app is available for $25 per month.
This is the best accounting software package for freelancers and small business owners.
FreshBooks is a complete suite that integrates easily with other business apps, supports online payment methods like credit cards, PayPal and Google Checkout. It has a dashboard that gives users complete control over their operations.
Modern versions of FreshBooks features a simple and powerful feature that allows users to access their information via mobile devices with its mobile add-ons, online payment solutions, past and current invoice tracking, etc.
FreshBooks comes in versions ranging from the Lite version with a monthly charge of $15, Plus version with a monthly charge of $25, to the Premium version at $50 monthly charge.
This accounting software comes with an easy-to-use dashboard, supports multicurrency and credit card transactions with Amex, MasterCard and Visa at a 2.9% rate and a transaction fee of 0.30 cents.
Kashoo connects users to more than 5,000 financial institutions for online reconciliation of accounts and also offer customer support services via phone, email, live chat and social media.
Users have the option of subscribing to Kashoo’s $20 monthly plan or $199 annual plan.
On mobile devices, Kashoo is available only on iOS devices.
This is another great accounting software package for freelancers and small business owners. GoDaddy Bookkeeping has basic features that cannot be used for double entry accounting. It integrates with e-commerce sites like Amazon, Etsy and eBay.
The monthly cost of using GoDaddy Bookkeeping ranges from $5 to $15, with a first-year discount of 20% for first-time users.
This is an all-in-one productivity suite that includes bookkeeping feature.
17Hats helps business owners to manage their accounting records, invoice, payments, projects, questionnaires, quotes, contracts, time tracking, and workflows, email sync, etc.
Usage of 17Hats is charged at the rate of $37 monthly with discounts available for yearly and 2year subscribers.