A successful business needs comprehensive and valuable accounting software to tackle sales and incorporate necessary tools and resources to fulfill the business objectives and improve sales and the growth of the company. Keeping the data organized, tackling profits and losses, keeping financial data organized, data analytics and reporting are some of the important aspects of successful accounting software.
The best accounting software is the one that abides by your business goals and provides relevant information and helps to improve the business functionalities and utilities. Finding a great business accounting software may become a laborious task and requires comprehensive research and analysis to find what works for you but finding an ideal accounting software helps businesses make informed and better decisions. As there is numerous software in the market, it is important to go into the details of the accounting software available.
In this top tools list, we will discuss the following:
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Top 30 accounting software
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How to find the right accounting software for you?
1. iBusiness Suite ERP
iBusiness Suite ERP offers an integration of all the necessary processes and functions a business needs for accounting and tracking of all the records. It is an ideal choice for a service business, educational institutions, retail chains of shops, wholesale trading companies, and more. It offers comprehensive tools for enterprise asset management, financial, distribution, and purchase order management.
Key Features:
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It offers HR management and Project management tools.
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You can manage warehouses and supply chains through its tools and resources.
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It offers reports and analytics for analysis and management.
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It offers training through webinars, documentation, and in-person training.
Cost:
You can quote at the website.
2. Zenefits
Zenefits is a cloud-based HR platform ideal for small and medium-sized enterprises to empower their workforce. It helps businesses to stay compliant and up to date with changes. The payroll, performance apps, HR, and tool benefits with the integrated partners, training, and advisory services to simplify the administration and reduce complexity and paperwork to support and allow the companies to focus on growing their business.
Key Features:
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It can be deployed in Windows, Mac, Android, and IOS.
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It allows features for management, scheduling, and database of employees.
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It offers analytics and reports for tracking data.
Cost:
You can quote at the website.
3. Sage 50cloud
Sage 50cloud is an out-of-the-box, complete desktop solution for accounting with mobile access and secure cloud facilities for all businesses. Sage 50cloud is an ideal choice for medium and small enterprises. It provides training for a better grasp in forms of webinars, documentation, lives online and in person. It provides chat, phone, knowledge base, and forums support for its users for grievances redressal.
Key Features:
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It offers features of managing accounts operations, assisting companies and managing cash, general ledger, and more.
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It provides real-time insights into financial and operational performance.
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It allows expense tracking and cash management.
Cost:
You can quote at the website.
4. Tally.ERP 9
Tally ERP 9 is one of the leading accounting software in the market. It is a user-friendly software that serves to handle sales, accounting, inventory, payroll, and purchase for an enterprise. It helps to track GST statutory changes and helps minimize any chances of GST returns rejections filed by you. It offers built-in correctional facilities to make GST filing spontaneous and error-free.
Key Features:
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It offers debit and credit notes.
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It offers reports and analytics to track the cash flows, profits, and losses.
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You can manage balance sheets and trial balances.
Cost:
You can quote at the website.
5. BQE Core Suite
BQE Core Suite combines billing, time, expense tracking, and project management at a unified platform to make it easier to manage business profitably. You can manage and organize repetitive tasks, information and spend your time effectively at the places that truly require your attention. It is an ideal software for engineers, architects, interior designers, lawyers, and professional services providers.
Key Features:
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It can be deployed in android, iOS, Windows, Mac, and Cloud.
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It facilitates automatic billing, workflow approval, billing portal, budget management.
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It focuses on providing professional firms’ project data analysis and accounting on a single platform.
Cost:
You can quote at the website.
6. Zoho Books
Zoho Books is online accounting software designed for small and medium enterprises (SMEs). It facilitates the process of receiving online payments and transferring professional invoices to clients and team members at the same time with ease. It helps to track and categorize expenses and cash flow in real-time. Zohobooks also allows you to connect your software to your bank account and keep track of the updates involving the debit and credit in the account.
Key Features
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It provides time tracking and analysis.
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You can keep track of invoice tracking and inventory management.
Cost:
You can quote at the website.
7. Wave Accounting
Wave Accounting is a free cloud software targeted at small businesses. It is a safe and secure popular accounting solution to tackle everyday business transactions and develop financial statements such as Balance sheets. Wave Accounting allows payroll, receipts, direct deposits, and invoicing. You can connect your bank accounts to the software and keep track of all the transactions instantly.
Key Features:
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It helps you to manage taxes and cash flow.
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It facilitates data transactions.
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It allows you to keep records of the expenses and incomes.
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It provides a detailed insight into your accounts and helps to make better and informed business decisions.
Cost:
It is free software.
8. NetSuiteERP
NetSuite ERP is a cloud-based enterprise resource planning software that provides financial processes and produces insights on the overall performance of the company. It deals with and automates numerous practical accounting areas including inventory, sales, orders, invoices, CRM, and billing. It utilizes data from a unified database and provides components to manage inventory and finance.
Key Features:
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It offers tools for billing for effective processing.
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It provides invoices used in sales.
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The real-time data analysis and reporting help enforce better financial planning and prediction.
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It allows automation of processes and assists in risk redressal.
Cost:
You can quote at the website.
9. FreeAgent
FreeAgent is comprehensive accounting software that allows to schedule invoices, set up periodic payments, and provide automated responses to its clients. It is designed for medium and small enterprises, payroll managers, and accountants. It is a great tool to manage financial accounts for employees in an organization.
Key Features:
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It is also available on android and iOS.
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It is easy to use and understand.
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It provides an inbuilt stopwatch to manage the working hours of the employees and timesheets.
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It provides insights for metrics and tracks estimates, target statuses, and invoices.
Cost:
You can quote at the website.
10. Vyapar
Vyapar is a free accounting software offering a plethora of tools such as invoice management, inventory, GST application, and more. It pays attention to small businesses and assists in numerous accounting requirements and eases the manual paperwork process. Ir offers various GST invoice templates and a mobile application to aid businesses to print online invoices conveniently.
Key Features:
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An accounting software catered with Indian businesses in mind.
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It has a scheduler and an easy billing operation.
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It has tools for product management and stock management
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It offers unlimited reports and analytics to make informed decisions.
Cost:
It is free software.
11. myBooks
myBooks is one of the leading accounting software designed for Indian businesses. It provides a GST Compliance system to ensure an uninterrupted and smooth workflow. It allows a user-friendly interface and facilitates a simplified accounting process and improves the workflow.
Key Features:
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It offers automated bank account records to provide real-time transaction-related queries.
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Ensures a data security system that prioritizes data confidentiality.
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It simplifies invoicing generation for error-free billing details management.
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Free version available.
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The interface is user-friendly.
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The dashboard aims to produce in-depth analytics on accounting details and workflow.
Cost:
You can quote at the website.
12. AlignBooks
Alignbooks is a business accounting software aimed to offer backups to prevent data loss, generation of e-way bills, and submission of returns. Align books play an essential role in managing a business's daily operations. It provides MIS reporting and. functionalities for periodic depreciation statements. It furnishes features such as Batch management, double unit systems, and batch management.
Key Features:
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It offers customizable templates and service invoices.
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It is online accounting software.
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It provides a predefined excel document format for invoice management and bulk vouchers.
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Additional information in documents can be added through barcodes.
Cost:
You can quote at the website.
13. Fraxinus Books
Fraxinus Books ERP is great accounting software for a company looking for managing the company’s performance and undertaking rationale calculations. Businesses can make use of the order management tool to further ease their process of order generation till final transactions. You can further add the feature of automated message and reports generation to send to selected email addresses at specified periods.
Key Features:
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Automatic update of the data.
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Management of sales.
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Auto VAT calculations.
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Recording of itemized attributes.
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Facilitates maintenance of stock updates through receipts.
Cost:
You can quote at the website.
14. ZipBooks Computer Accounting System
ZipBooks accounting management software is an effective system to track and maintain records, accounting, and transactions. It contains a history option to keep track of and monitor the progress and performance of the business. It helps to keep track of the taxes and maintain necessary records to regulate the tax records.
Key Features:
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It helps to record bank transactions and reconciliations.
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It provides project accounting and auto arrangement of transactions.
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You can enter bank information and access any information with a single click.
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The system encourages making double entries to make balance maintenance and checking easy.
Cost:
You can quote at the website.
15. Logic ERP
Logic ERP offers a robust and compatible set of tools for financial planning and accurate forecasts of transactions. The system allows companies to maintain balance sheets and create profit/loss analyses to boost decision-making. Logic ERP integrates different departments in a company strengthening and improving the performance of the company. It has numerous features making it a crucial component of a company.
Key Features:
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General ledger support provided.
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Unified attainment system.
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It records business transactions and improves business accounting and finance abilities.
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Tracking of orders.
Cost:
You can quote at the website.
16. Horizon ERP
Horizon ERP plays a critical role in business finance due to its striking and powerful tools for the development of reports and billing management. It allows the company to manage and control the inventory and the outstanding of the customers. Horizon ERP consists of multiple formats to prepare GST invoices. It provides modules to file and rectify all kinds of data errors in GST.
Key Features:
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It facilitates EAN code scanning.
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Offers statements for cash collection.
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It allows Barcode printing.
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Helps in the processing of bulk sale orders.
Cost:
You can quote at the website.
17. SlickAccount
Slick Account is simple accounting software that generates automatic GST invoices that can be sent to the clients and spurs the company to manage stocks and inventory and file GST returns. Slick Account provides numerous features in a unified place. You can further customize the tools and features that your business may need at affordable prices.
Key Features:
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It manages budgeting and expense tracking for a business.
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It caters to the financial and inventory management of a business.
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Allows multi-user facility.
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You can add your bank accounts.
Cost:
You can quote at the website.
18. Deskera Books
Deskera Books is a professional accounting software to create track bills, invoices, and get done with payments. You can complete customers’ orders on time through tools of the dropship, pick up, backorder, and shipment abilities. It is a complete comprehensive robust software with the accounting tools, reports, analysis, and notes to serve as a great tool in maintaining Balance sheets and profit and loss data.
Key Features:
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It offers funds and payroll accounting and finance.
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It offers management of fixed assets.
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You can manage your taxes and purchase orders through Deskera Books.
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Cost:
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You can quote at the website.
19. FreshBooks
FreshBooks accounting software allows businesses to make informed decisions based on analytics and business data. It is cloud-based accounting software that can serve as an ideal choice for entrepreneurs and small business owners. Gather insights on your business, formulate the costs of your business, make time for tax regulation and hire resources if needed.
Key Features:
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Free trial available.
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You can easily import and export data.
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It provides a client portal and a billing portal to manage all the necessary details.
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It consists of automated billing and activity tracking.
Cost:
You can quote at the website.
20. Xero
Xero is an accounting software company from New Zealand. It offers different plans based on various businesses and its journey. The early plan is for growing businesses, a growth plan for companies with slow growth, and an established plan for companies that are on the top tier of the industry and working in the long run.
Key Features:
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Provides a package for all businesses of all sizes.
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It incorporates pay runs, bill payment, projects, invoicing, and quotes.
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It manages projects, accounts, and finance.
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It allows integration of the software with the bank accounts and reconciliation.
Cost:
You can quote at the website.
21. ERPAG
ERPAG is accounting software designed to manage accounting functions and operations internally. It is specifically designed for small businesses and medium-level enterprises. It provides specialized solutions and handles accounting-related queries and details in real-time.
Key Features:
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Consists of a centralized system to handle sales, label printing, and inventory.
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Provides a multi-language interface for easy accessibility.
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Offers warehouse, supplier, and shipping management.
Cost:
You can quote at the website.
22. ProfitBooks
ProfitBooks is a cloud accounting software that allows you to track expenses, manage invoices and finances conveniently. It ensures that companies save time and manage accounts with ease. The feature of inventory management tracks items from warehouse to logistics. You can access the information anywhere, anytime. You can track everything received with convenience.
Key Features:
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It ensures mobility.
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Helps to track inventory cycles.
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It is Cloud-based software.
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Get insights and details into tax reports.
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You can manage online transactions effectively.
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Helps to maintain payments records precisely.
Cost:
You can quote at the website.
23. Quicken Accounting Software
Quicken accounting software offers a centralized system to ensure that small and medium sector enterprises manage purchase, CST, Currency, Sales, Accounting, and inventory. Quicken helps to manage personal finances and details on the property in a single place.
Key Features:
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It offers features and tools to provide reporting and analysis.
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Provides a user-friendly interface to understand and make better decisions.
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It aids income and expense tracking and management.
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It is a versatile program.
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It is a cloud-based program.
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It can be deployed in Mac, Windows, Android, and iOS.
Cost:
You can quote at the website.
24. Deltek Vision Accounting Software
Deltek Vision is a professional solution for resource management, accounting, time management, client management, and project management. It is available to deploy on-premises or over the cloud. Firms such as architecture, engineering, management, and IT consulting can make adequate benefits from the Deltek Vision accounting software.
Key Features:
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Shows budgeting and forecasting of bill payments and transactions.
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Consists of a client portal to keep details secured and in a single place.
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Offers collaboration tools with partners, team members, and other software.
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It allows adding bank details and bank reconciliation.
Cost:
You can quote at the website.
25. BigTime Accounting Software
BigTime Accounting Software is a great choice for a company looking for a unified system for budgeting, project planning, communication and invoice, and finances and resource management. It provides a wide variety of tools to ensure that the team members deliver work on time and helps to improve profits revenues of the companies by a margin of 25%.
Key Features:
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It is available in WIndows, Android, iOS and Mac.
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It allows automatic billing and time capture.
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Ensures tracking of activity.
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Regular alerts and notifications for operations and actions.
Cost:
You can quote at the website.
26. Cin7
Cin7 is a flourishing software helping businesses struggling to deal with multiple operations at once. It is highly functional and offers order management solutions for businesses involving products. It offers a centralized system for retailers, wholesalers, manufacturers, and opens up new and wide opportunities for them to improve sales and expand their markets.
Key Features:
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It is available on Windows, Android, Mac and iOS. .
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It offers a free trial.
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It provides timely notifications and alerts.
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It ensures data security and database support.
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It focuses on billing, invoicing, cost tracking, and archiving.
Cost:
You can quote at the website.
27. Akounto
Akounto is a cloud-based software that ensures businesses streamline their financial data with the help of simple features such as invoicing, account linking, real-time profit teaching, and more. It is a complete-agnostic system and free software that allows you to monitor your progress along the way. It is a great tool for startups, businesses, E-Commerce, and professional services.
Key Features:
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It is free software.
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It helps to keep a track of expenses.
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Provides a general ledger.
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It supports bank reconciliation and the addition of bank accounts.
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It keeps a track of accounts payable and receivable.
Cost:
It is free software.
28. Odoo
Odoo is accounting software for daily finances and accounting with simplicity. It plays a critical role to provide the state of the business in a list format to ensure higher visibility for document statuses. The application offers a wide array of features such as multi-currency management, tax formulation, detecting gains and losses, receivable and payable accounts, and much more.
Key Features:
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The software is flexible and customizable as per SMEs and organizations’ requirements.
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It can be deployed in android, Mac, Windows, and iOS.
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It ensures asset tracking and automated scheduling.
Cost:
You can quote at the website.
29. Sage Intacct
Sage Intacct is a complete solution to offer integrated and financial reports for business entities. It provides access to integrated management of the business resources. It offers financial management solutions for all growing businesses, making the processes faster. It increases your reliance among the customers and increases visibility into your business performance. It is a great tool for midsize organizations to manage accounts operations, cash, general ledger, and more.
Key Features:
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It is Cloud-based software.
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It promotes accounts payable and receivable.
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It provides asset tracking, accounting, and approval of process control.
Cost:
You can quote at the website.
30. AccuFund Accounting Suite
AccuFund Accounting Suite contains a strong core system with numerous modules and systems consisting of billing, grants, payroll, human resources management, taxes, licenses, and fees. It allows you to customize your software as per the requirements and customize your solutions. You can simplify your processes with 3rd party integration with affordable and complete processes.
Key Features:
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It is available in Windows, cloud, and Linux.
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It ensures bank reconciliation.
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It provides payroll management and project accounting.
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It provides billing and invoicing.
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It enables fund accounting and fixed asset management and maintenance.
Cost:
You can quote at the website.
Things To Consider While Selecting An Accounting Software
1. Cost
The foremost scenario should be the budget. Find an accounting software that offers you numerous features required in your budget. Always remember to take a trial and then formulate to find the best accounting software for you. A free trial will help you understand if the software meets your expectations or not without directly investing a huge amount of money in it.
2. Data security
Accounting and financing are sensitive and confidential topics. Accounting software should be competent to handle sensitive data and financial information with ease. Data security standards such as 256-bit Encryption and Extended Validation (EV) SSL allow the users to work with ease and security.
3. Ease of use
Based on your and your team members' experience with the software, you can find the one that aids the company’s goals and also is easy to use. Complex software may require extensive assistance and training beforehand to take a hold of the feature and tools.
4. Features provided
Different businesses such as retail, IT, manufacturing, etc. have different requirements and expectations from accounting software. Features such as a general ledger, invoice generation, dashboard, integration with other software are some of the important features to take into account before choosing accounting software.
Conclusion
Accounting software is important for a business. Hence, this list of the 30 best accounting software is beneficial for you to find the best accounting software for you.
FAQs
What is an accounting software?
Accounting is one of the most important aspects. Accounting software is the system that allows users to automate an organization’s financial operations. It allows the companies to manage their transactions and details about their finance modules consisting of numerous features such as accounts receivable, accounts payable, billing, general ledger, payroll, periodic reports, and analytics. It helps businesses to compute accounting operations and manage the financial data of a business.
Accounting software allows real-time analysis of the cash flow and expense administration of a company. It offers essential data for internal and external audits and also provides a real-time analysis of inventory management, credits, debits, sales, purchases, and more.
What should you consider while using accounting software?
Things to consider while using an accounting software:
- Invoice processing
Accounting software allows you to store invoice information conveniently. It helps you to create an invoice by entering the necessary information such as the name of the customer, due date, quantity, price, and account. You can then either print the invoice or mail it to the required customer. Invoices can be sent to the customers who owe you money.
- Track money and expenses
Use accounting software to track your expenses and payments and keep a track of all the necessary or unnecessary incurred payments.
- Pay vendors
You can use the software to make easy payments and use the saved invoices to keep a track of what you owe to a vendor.
- Savings
Accounting software allows you to make informed decisions and cut off any outsourcing agent for accounting and finances. Thus, reducing the overall costs incurred by the company.
- Improves the efficiency of the company
Finance requires a lot of paperwork and with the help of accounting software, you can reduce the manual paperwork and data entry. It allows the process to be error-free and provides additional features such as accounts receivable, accounts payable, invoice generation, calculations, and expense management.
- Easier tax management
You can coherently manage tax as it requires a lot of paperwork and documentation and may get intriguing for businesses, especially small businesses.
What features should an accounting software offer?
- Accounts payable
It shows the information regarding transactions that need to be reflected in the accounts payable.
- Accounts receivable
Accountancy software keeps a track of debit and credit data and displays information regarding payments by the customers in the general ledger.
- General ledger
The general ledger is a table that displays the accounts receivable and payable in a unified place to keep a track of any changes and work accordingly. It summarizes expenses, equity, revenue information, and assets.
- Financial reporting
It offers a graphical representation and display of all the data in accounting systems which includes the sales reports, cash flow, and profit and loss analysis.
How much does an accounting software cost?
Though there are free versions of accounting software available. You may not find all the features you are looking for in it. Accounting software for a small business ranges between $0 to $150 for a month. A lot of accounting software offers plans for their services starting from a basic plan.
The basic plan may include some essential features you may need in the beginning but as the business grows, you may need higher plans for more advanced features such as customized financial reports, run payroll, invoice, and other integrated features that may be absent in the initial plans.
How does an accounting software work?
When a company attaches its bank details and all necessary card details, the software is able to sync all the transactions in a queue. You can access all your data and information and choose the desired category to look into the deeper insights. The business owners can run a report and find details about the profits and losses and how to relocate resources in a positive direction.
You can compare revenue, and costs, check loans balances and manage taxes. You can use features such as invoice, accounts payable and accounts receivable, general ledger to improve your finances and make better-informed decisions.
