Accounting software is a type of accounting application where you can record all your accounting transactions such as accounts payable, accounts receivable, preparing balance sheets, maintaining the payroll and preparing trial balance sheets. If it is cloud based accounting software then you can access all these functions from any place at any time from your any device if you are connected to internet.
As the accounting software industry a multi-billion dollar business, thousands of companies are competing with each other which results into confusion in the market on the user front on which software to choose. This is one of the main reason, I have shortlisted the top 13 accounting software for small businesses in 2017 through this article after thoroughly going through 300 + accounting software in the market. I have evaluated each software on various parameters like years of presence, features, pricing, support, user interface, software reviews, hands on experience through trials, availability at various locations and so on.
Here are the Top 13 Accounting Software for Small Businesses in 2017
(Listed in Alphabetical Order)
Account Edge is a small business Software version which helps to manage your account and keep track of all your budgets. They also helps in managing your business accounts as you can track your income and expenses or profits and revenues and assets, equities and liabilities. You can also create your own template or go for ready to use templates to setup your account dashboard. If you reoccurring double entry transactions, you can easily track it. If you want you can keep a record of all transactions on a daily or weekly or monthly or yearly basis. It enables you and your accountant to do audit trial to keep all your financial data in correct balance Proportion.
Freshbooks are cloud based accounting software version. They do not provide desktop version software. They are meant for small businesses and you can access your software account from anywhere from any devices as your data is backed up on the cloud automatically. You can make professional looking invoices. They provide items such as time tracking, scheduling the work, invoicing, tracking expense, preparation of overall financial reports all these you can work on the cloud based online dashboard.
Kashoo is online accounting software which is specifically designed for small or micro businesses to get a good accounting solution even if you have no knowledge or experience. Business entrepreneur can use it’s dashboard which is really powerful and up to the mark where it can impact your business to get much better decision making and take quick actions on the emergency things. They provide various templates from which you can choose according to your need and ease of use. They also provide an option of total customisable invoices. They also provide additional services such as insurance, retirement settlement process, payroll management and HR.
They are meant for basic accounting process which includes basic bookkeeping service, tracking expenses and sales, creating and sending invoices. You can set reminders for project meeting, due dates, and type of income flow. They are not suitable for management of stock / inventory and payroll management.
Microsoft dynamics is meant for the small and medium businesses which can track all the business’s transactions including financial and nonfinancial. It is cloud based ERP deployed software that is enterprise resource planning software with solutions you can start with basics of what you need and easily adapt to your business needs change. They can also customise your business needs. They also provide you to store your data on a Microsoft cloud or your own server by paying to another cloud storage service provider.
Net suite you provide products related to micro or small business and sometimes even for bigger companies. It is a part of Oracle. These are the products they provide include ordering and billing, management of inventory and stocks, profit and revenue management, supply chain controls and financial reports.
Oracle is an enterprise resource planning accounting software which helps not only in accounting but also helps to enhance customer relationship management CRM and planning and budgeting of the business by Oracle E- Business suite applications. It is a higher end product does having a centralised control over detailed audit trials can be run and also you can incorporate management, reporting and corporate requirements of the businesses. It also includes extensive validation of accounting process transformation, thus giving you to enforce accurate accounting policies.
QuickBooks are easy to setup and use. They can provide you with good tracking system of inflowing and out flowing of cash from your business. They can automatically backup your data with the very high security level.
With this software you can estimate tax payments, track expenses, create and send invoices, run payroll, control stocks and inventory. You can avail this by Shelling out some extra bucks. They provide both online and desktop version. They also offer bookkeeping and complete financial management assistance.
Reach Accountant is Online Accounting Software meant for startups and micro or small businesses. Reach Accountant software is easy to setup and no training is required to work on the software unlike the spreadsheets. Even non accountants can work on it. Reach Accountant software does your accountant job easy and automatic. Reach Accountant software helps to track the cash inflows and cash out flows, profits and revenues, expense and sales final reports and periodic calculations of assets, equities and liabilities. Automatically creates and sends invoices to the clients. . Each and everything can be under your control through this accounting software. Reach Accountant software provides you with the cloud based data storage facility where you can store all your data and information safely and securely as they have very strong and powerful bank like security encryption on the cloud. Even if you lose your mobile phone or a laptop, you will not lose your important data and information, it will be always safely wrapped on the cloud and you can
Sage accounting software
Sage accounting software has 8 different types of accounting software which are mostly identical. Some of them are sage 50, 50 accounts, 50 accounts essentials. You can choose any of them. They provide offer accounting process such as time tracking, scheduling the work, invoicing, tracking expense and inventory management. They provide desktop and online version. They are higher end products which can be very expensive for small or micro businesses. You can also avail multi user facility up on some extra charges.
It is the accounting software for startups. They provide you tracking of financial data such as tracking expense, time tracking, creating expense and sales reports and invoicing. You can automatically backup your data with the cloud. They provide both desktop version and online cloud based version. It is a higher end product which can be very expensive for small or micro businesses.
Xero is meant for the small businesses accounting purposes. They also give you a complete tracking of financial data and you can access your data with your mobile. You can also use your login from MAC or PC or any other device to see your data and information. It is simple and easy to work with. It enables you to create and customize the invoices, create expense and sales reports and run payroll. It can also integrate with third party applications.
Zoho Books is a cloud based online accounting software for small businesses. The products they provide include inventory management, expense tracking. They offer multi user facility with the broader spectrum of integration of others Zoho software products to provide new customized packages. These customized packages can include expense management, product subscriptions, CRM, stock and inventory management and new or existing project management.
The above list of “Top 13 Accounting Software for Small Businesses in 2017” is my own views on various accounting software available across the globe. The above article will be a quick guide for you to pick the best one that will suit your business.