Did you know 82% of small businesses fail because of bad cash flow? Keeping finances in order is key to success. Luckily, there are many great accounting software options out there. They can help your business manage money better.
This guide will look at the best bookkeeping software for 2024. We’ll cover expense tracking, invoicing, and more. Whether you’re a freelancer, a new business, or a small company, we have the right tool for you. It will make managing your money easier and help you control your finances.
Intuit QuickBooks Online is a top choice for small business accounting. It’s a cloud-based platform with lots of features for small businesses. It’s easy to use, customizable, and works great on mobile devices. That’s why it’s the best bookkeeping software out there.
QuickBooks Online has many good points. It’s customizable, has lots of add-on apps, and works well on mobile. It might cost a bit more than some other options. But, it’s worth it for small businesses with a budget for technology.
QuickBooks Online is great for both new and experienced bookkeepers. It has powerful tools and works well on mobile. That’s why it’s the top choice for small business owners.
“QuickBooks Online is the industry leader in small business accounting software, praised for its highly effective accounting functionality and exceptional user experience.”
Xero is a top choice for small business accounting. It’s easy to use and has lots of features for small businesses and more.
Xero lets you customize your dashboard. You can move or hide panels to fit your needs. This makes the software work better for your business.
Xero has flexible pricing for different business sizes. It also lets many people use one account. This is great for businesses where many people need to access the system.
“Xero’s user-friendly interface and robust reporting features have been a game-changer for our small business. It’s simple to use, yet powerful enough to handle our complex accounting needs.”
Xero also has a mobile app. This lets users manage finances from anywhere. It shows how Xero cares about giving a great experience to its users.
If you’re a small business owner or starting a business, Xero is a great choice. It helps manage your money well and can help you succeed.
For startups, picking the right accounting software is key. Zoho Books is a top choice for growing businesses. It offers everything you need to manage your finances well.
Zoho Books has many features that help startups. It has a free plan for businesses making less than $50,000 a year. This plan includes tools like a customer portal and automatic payment reminders.
As your business grows, you can upgrade to paid plans. These plans offer more features like automation and tracking. They also have better inventory and analytics tools.
Zoho Books is great for mobile use. You can send invoices via iMessage and use Apple Watch apps. This makes managing your finances easy, no matter where you are.
Zoho Books has different pricing plans for startups. The free plan lets you send up to 1,000 invoices a year. Paid plans start at $20 a month and go up based on what you need.
The top plan costs $275 a month. It gives you advanced tools like automation and better inventory management.
| Zoho Books Plan | Monthly Price | Key Features |
|---|---|---|
| Free | $0 |
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| Standard | $20 |
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| Professional | $50 |
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| Ultimate | $275 |
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Zoho Books is a great choice for startups. It has strong features, works well on mobile, and has flexible pricing. It helps you manage your finances well and sets you up for success.
Managing your money as a freelancer can be hard. But, the right accounting software can help a lot. FreshBooks is a top choice for freelancers, especially if you have 50 or fewer clients.
FreshBooks is great for sending invoices and managing clients. Your clients can make their own accounts, save payment info, and work on projects together. This makes invoicing easier and gives your clients a smooth experience.
FreshBooks has a cool feature for tracking time. You can start the timer on your phone or link it with apps like Asana and Trello. This helps you keep track of your work hours and send accurate invoices. Plus, it offers weekday phone help in all plans, so you can get help when you need it.
| FreshBooks Features | Benefits for Freelancers |
|---|---|
| Invoicing | Streamlined invoicing process, allow clients to create accounts and save payment info |
| Time Tracking | Unlimited time tracking, sync with project management tools |
| Client Management | Clients can collaborate on projects, view invoices, and make payments |
| Phone Support | Weekday phone support in all plans |
If you’re a solo freelancer or part of a small team, FreshBooks has what you need. It helps you manage your money better and focus on great work for your clients.
Sage 50 Accounting is a top choice for small businesses. It’s also known as Sage Accounting or Sage Business Cloud Accounting. It has many features for small and medium-sized businesses.
This software works well with Microsoft 365 Business. It lets you work from anywhere and boosts productivity. Even though it looks old, it’s still a strong tool for businesses that need to track inventory well.
| Sage 50 Accounting Features | Benefits |
|---|---|
| Comprehensive Accounting | Handles all essential accounting tasks, including invoicing, payroll, and financial reporting. |
| Inventory Management | Provides advanced inventory tracking and control, making it ideal for businesses with complex stock requirements. |
| Remote Work Integration | Integrates with Microsoft 365 Business, enabling secure access and collaboration from anywhere. |
| Customizable Reports | Offers a wide range of customizable financial reports to meet the unique needs of your business. |
Sage 50 Accounting doesn’t have a mobile app. But, it’s a great choice for small business owners. It has lots of features and is great for managing inventory. So, it’s a top pick for businesses looking for a strong desktop accounting software solution.
“Sage 50 Accounting is the most feature-rich accounting program we’ve reviewed, offering built-in online connections that support remote work through integration with Microsoft 365 Business.”
Sage 50 Accounting is great for businesses that need to manage their inventory well. It has many tools to help you keep track of what you have, how much it costs, and more.
Sage 50 Accounting gives small businesses strong tools for managing inventory. These tools make your work easier and can help you make more money. Some key features include:
This software is perfect for small businesses that want to keep a close eye on their stock and costs. It automates many tasks, helping you manage your inventory better. This can cut waste and make your business more profitable.
| Feature | Description |
|---|---|
| Real-time Inventory Tracking | Monitor stock levels, set reorder points, and view detailed inventory reports |
| Automated Costing Methods | Calculate inventory costs using standard, average, or LIFO costing |
| Integrated Purchasing and Sales | Seamlessly generate purchase orders and invoices from the inventory system |
| Comprehensive Reporting | Access key metrics like inventory turnover and stock valuation |
If your small business needs to track and manage its inventory well, Sage 50 Accounting is a great choice. It can make your operations smoother and help your business do better financially.
When picking the right accounting software, think about two main things: cost and what it offers. Knowing these can help you find affordable accounting software that fits your small business accounting needs.
Accounting software pricing changes a lot, from $9 a month for basic plans to over $200 a month for full features. It’s important to know your budget and what accounting software features you need. This way, you can find the most affordable accounting software for you.
Cost isn’t the only thing to look at. You should also check what essential accounting software features each option has. Important things to think about include:
Figuring out which accounting software features you really need will help you pick the best bookkeeping software. This ensures it has the main stuff your business needs.
“Choosing the right accounting software is essential for the financial health and efficiency of your small business.”
Cloud-based bookkeeping software is changing the game for small businesses. These cloud-based accounting software solutions offer many benefits. They give you access from anywhere, automatic backups, and easy team work with accountants.
They are also easy on the wallet and simple to start. This makes them great for businesses of any size. They are cheaper than old desktop software and easy to set up.
These cloud-based accounting software options have lots of features. You can track invoices, expenses, and manage inventory. They help small businesses work better together and understand their money better.
“Cloud-based bookkeeping software has changed how small businesses handle money. It brings ease, flexibility, and efficiency. It’s a must-have for today’s entrepreneurs.”
| Software | Pricing | Key Features |
|---|---|---|
| QuickBooks Online | $25 – $100/month | Invoicing, Expense Tracking, Payroll, Inventory Management |
| Xero | $12 – $60/month | Bank Reconciliation, Project Tracking, Inventory Management |
| Zoho Books | $9 – $29/month | Automated Billing, Expense Management, Inventory Tracking |
Small businesses are using the cloud more and more. These cloud-based accounting software solutions are key to their success. They make managing money easy and efficient. This lets business owners focus on growing their companies.
Finding the right accounting software is key for small businesses. This article looked at top bookkeeping software like Intuit QuickBooks Online, Xero, Zoho Books, and FreshBooks. They all have different features for small businesses.
When picking a small business accounting software, think about price, main features, how easy it is to use, if you can use it on your phone, and if it works with other tools. This helps you pick a solution that makes your finances easier and helps your business grow.
If you’re searching for the best accounting software for your business or want to see bookkeeping software options, this article can help. With the right tools, you can focus on your business. And make sure your money matters are in order.