Top 10 Accounting Automation Software You Need To Try!

Accounting automation software are rapidly gaining traction in companies, spurred by the wave of digital transformation. This kind of software eliminates the need for manual entry, utilizing advanced data analysis to offer companies a comprehensive view of their financial health. ☝️

Conversely, chartered accountants are entrusted with an advisory role. They serve as the primary accounting reference, guiding companies through critical decision-making processes.

As you can see, the end of accountants is not on the horizon. And, to help you understand what it is all about, we'll unveil 10 of the best accounting automation software. 📣

BlackLine is an accounting automation software ensuring 3 essential needs of most businesses. Blackline accounting automation software optimizes accounting processes, enhancing operational productivity and speeding up client transactions.

Unlike CRM and ERP systems, BlackLine provides in-depth analysis of disconnected accounting data, offering valuable insights. By eliminating manual tasks, it allows accountants to focus on higher-value, more engaging work, transitioning to modern accounting practices.

• Cash application.
• Credit and risk management.
• Collections management.
• Disputes and deductions.
• Team and task management.
• Cash flow management.
• Turn payment into real-time intelligence.

BlackLine offers a free trial and a free version. However, for more, prices are given upon quotation.

FreshBooks is one of the best accounting automation software for small businesses due to its ease of use and numerous features.

With FreshBooks, you'll be able to simply drive your company's cash flow and see at a glance the health of your business and then make important decisions.

• The management of estimates and invoices.
• Bank centralization.
• Automated bank reconciliation of expenses.
• Payment management.
• Reminders of unpaid bills.
• Creation of the general ledger.

FreshBooks provides a free trial within 30 days, and the paid plan starts from $4.5 per month for 5 users.

Microsoft Dynamics GP is an accounting automation software and ERP designed for small and medium-sized businesses, providing enhanced control over finances, inventory, and operations.

This flexible solution grows with your needs, offering automated analytics and integrated business intelligence tools for better decision-making. It supports cash flow and banking management, with all-in-one features like payroll and sales management to control vital business aspects.

Beyond accounting, Microsoft Dynamics GP also manages inventory efficiently.

• Financial management.
• Project management.
• Business intelligence.
• Inventory management.
• Sales and service.
• Cash flow tracking.
• Analytics and reports.

• ​​Starter Pack: $5,000 for 3 users and per month.
• Additional Full Users: $3,000 per user per month.
• Additional Limited Users: $600 per user per month.
• Self Serve Users: $60 per user per month.

NetSuite, a cloud-based ERP, CRM, and accounting automation software acquired by Oracle, serves 22,000 customers in 160 countries.

It caters to companies of all sizes, from growing SMBs to large enterprises. Adaptable to any industry, NetSuite excels in the retail and trade sector with its point of sale, warehouse, and e-commerce site management features.

• Accounting, finance, and treasury.
• Expense management and expense reports.
• Payroll, leave management.
• Commercial management (quotes, customer orders, bills).
• Project management.
• Purchasing and suppliers management.
• Inventory management.
• Production management.
• Warehouse management and logistics.
• CRM.
• E-commerce management.
• Business intelligence.

Plans start at $99 per user per month, and you'll have to pay a monthly licensing fee ($999).

Designed for freelancers, Plooto automates accounting tasks, allowing users to focus on their core business.

It categorizes 90% of transactions using AI, provides advanced dashboards for revenue tracking and expense control, and automatically calculates fixed assets. The responsive support team is available in real-time via chat, and tax returns can be generated in just a few hours.

• Accounts payable.
• Accounts receivable.
• International payment.
• Credit card acceptance.
• Online check payment.
• Integrations (QuickBooks, Xero).

• For individual businesses: $25 per month (unlimited users)
• For accounts/ bookkeepers: $25 per month (unlimited users)

Ramp is a SaaS accounting automation software that provides all the essential functionalities for pre-accounting tasks. Leveraging advanced features and artificial intelligence, Ramp allows users to automate processes extensively, significantly reducing the time spent on accounting. All accounting documents are intelligently centralized, organized, and accessible from anywhere.

• Bill payments.
• Spend controls.
• Onboarding.
• Real-time reporting.
• Saving insights.
• Receipt matching.
• Expense categorization.
• Integrations (NetSuite, Xero, Sage, QuickBooks, etc.).

Prices are available upon quotation.

Sage, a globally recognized leader in accounting software, offers a comprehensive online tool for accounting and billing management.

This software is ideal for self-employed individuals, professionals, and SMEs who want to manage their invoicing and accounting independently. Sage Business Cloud Accounting & Invoicing provides a robust, user-friendly platform for efficient financial management.

• Billing and invoicing.
• Bank accounts synchronization.
• Inventory management.
• Client support.
• Tax management.
• Customization (logo, color, font, etc.).
• Customer service and dedicated advisor (e-mail, toll-free number, chat).

Sage doesn't provide a free version. The paid plan starts from $10 per user per month which is very affordable for small businesses.

Spendesk is designed to automate and simplify the accounting processes for businesses of all sizes. It provides a comprehensive solution for managing company expenses, from initial requests to final accounting.

This software is perfect for businesses seeking to streamline their spend management and gain real-time visibility into their financial operations. Spendesk ensures efficient, transparent, and controlled financial management through its user-friendly platform.

• Expense management.
• Invoice processing.
• Corporate cards.
• Approval workflows.
• Real-time spend tracking.
• Budget management.
• Automated receipt capture.
• Multi-currency support.
• Integrations with major accounting software.
• Advanced reporting and analytics.

Prices are available upon quotation.

Wave is offering unlimited invoicing options, while you can enhance functionality with paid services like credit card processing, payroll systems, and advanced support options. Wave is ideal for freelancers, contractors, and businesses with fewer than nine employees.

The invoicing feature allows for easy filtering and sorting by status, such as paid, overdue, and sent. Additionally, you can scan and upload receipts or send them directly to the software, making expense management seamless and efficient.

Here's a list of everything you get for free when you use Wave:

• Income and expense tracking.
• Bank and credit card connections.
• Unlimited guest contributors.
• Billing in any currency.
• Send quotes and turn them into invoices once approved.
• Scan receipts.
• Automatically save receipts.

Is Wave a free software? Yes! Wave is a free accounting solution for entrepreneurs. There are no setup fees, hidden costs, or monthly fees.

Xero is a SaaS software that streamlines accounting by automating essential processes. Its modern and intuitive interface makes it easy to use, simplifying financial and accounting management. Xero supports seamless collaboration, both internally and with external accountants.

The software reduces administrative burdens while enhancing financial control, enabling users to improve their company's performance and growth. Xero is particularly well-suited for the needs of very small enterprises and small to medium-sized enterprises.

• Pay bills.
• Claim expenses.
• Bank connections.
• Accept payments.
• Track projects.
• Pay runs.
• Bank reconciliation.

• Early: $12 per user per month
• Growing: $34 per user per month
• Establised: $65 per user per month

Also known as "accounting digitization," "accounting robotization," or RPA (Robotic Process Automation), accounting automation leverages advances in robotics and artificial intelligence to enhance accounting functions. It involves replacing manual processes with automated ones using dedicated and secure software:

• Accounting Entries: Automates the preparation of invoices, accounting entries, bank statements, and payroll files.
• Estimate and Invoice Generation: Simplifies the creation and management of estimates and invoices.
• Invoice Dematerialization: Complies with legal obligations by digitizing invoices.
• Payroll Management: Streamlines payroll processes.
• Financial Statements: Facilitates the preparation of balance sheets and profit and loss accounts.

By automating repetitive tasks, businesses can reduce manual input errors and allocate more time to value-added activities.

👉 For example, a robot can read a scanned invoice, identify key information such as amount, customer, date, and tax, and automate the invoice processing.

To automate your accounting process, you'll need to select a dedicated software. We did select the top-notch tools, but you might have difficulties in choosing.

As such, you need to know how you should pick one. 👇

If you're unsure where to start, consult your financial advisor for advice on the business aspects to consider.

#1 Budget: Determine whether you need free or paid software.

#2 Features: Identify the features you require.

• Company Size: Choose software tailored for VSEs, SMEs, or large enterprises.
• Industry-Specific Needs: Consider if you need sector-specific software.
• Chartered Accountant: Plan how to manage communication with your advisor if you use one.
• Comprehensive Management: Decide if you need the software to handle only accounting or include other functions like invoicing and cash management.
• Integration: Ensure the software can connect with your existing tools.
• Dashboard Management: Decide if you want to manage accounting via a dashboard.
• User Access: Determine how many users need access to the data.
• Data Protection: Assess the level of data protection required.
• Learning Curve: Consider if you can invest time in learning the tool or if it needs to be immediately intuitive.

Remember, many professional software options offer free trial versions. Testing a tool can help confirm if it meets your needs before making a financial commitment.

Accounting automation software offers numerous benefits, allowing you to:

• Automate Accounting Processes: Streamline your accounting tasks and workflows.
• Optimize Costs: Eliminate repetitive, time-consuming, and low-value-added tasks.
• Reduce Errors: Minimize mistakes such as incorrect entries, duplicates, and formula errors.
• Ensure Legal Compliance: Stay compliant with the law through regular, automatic updates.
• Facilitate Accountant Collaboration: Allow your accountant real-time access to monitor your accounts.
• Access Data on the Go: Use mobile applications to manage your accounting from anywhere.

Cloud-based accounting automation software provides several key advantages.

• Mobility and Freedom: Access up-to-date data from anywhere, even when visiting clients.
• Collaboration and Consulting: Spend more time on consulting and improve customer relations by sharing a common interface.
• Productivity Gains: Increase efficiency with automated tasks and processes.
• Activity Management: Securely manage accounting data, use personalized dashboards, and monitor files.
• Interactivity: Connect business applications with the accounting production tool for seamless integration.

☝️ Overall, online accounting software is beneficial for both business managers and CPAs, enhancing efficiency, compliance, and collaboration.

Modern accounting software is increasingly equipped with automation features.

• Document and data recognition using OCR (optical character recognition) technology.
• Archiving.
• Compliance verification.
• Validation processes.

Given accounting's broad impact across all departments, the benefits of automating accounting processes are extensive and far-reaching.

Pre-accounting includes tasks performed before involving a chartered accountant, if applicable. These tasks encompass collecting, filing, and archiving all accounting items.

• Supplier and customer invoices.
• Expense reports.
• Bank statements.
• Salary slips.
• Social charges.

Accounting automation software handles these tasks, eliminating the need for manual effort.

Purchasing activities with suppliers generate information and documents that need tracking and archiving.

• Generating purchase orders.
• Updating stock in real-time after receiving goods.
• Generating purchase invoices from purchase orders.
• Creating accounting entries from invoices.
• Archiving the bills in the accounting software.
• Accounting for tax payments.

In the sales process, accountants must create several steps, documents, and accounting entries. Automation software is useful for:

• Tracking quotes until customer validation.
• Generating purchase orders from quotes.
• Creating customer invoices from purchase orders.
• Generating accounting entries from invoices.
• Archiving invoices in the accounting software.
• Alerting for unpaid invoices.

Payroll is a recurring, mandatory task that doesn't add direct value, making it ideal for automation.

• Calculating salaries (gross, net, deductions).
• Creating pay-in-slips.
• Recording payroll-related accounting entries.
• Declaring social charges remotely via DSN (Nominative Social Declaration).
• Checking entry consistency.

Whether you keep traditional, cash, or commitment accounts, connecting your accounting software to your bank account can be a great help.

• Retrieve bank statements.
• Accounting entries in the cash journal.
• The follow-up of the treasury in real-time.
• Bank reconciliation.

The digital transformation of companies does not spare accounting, and it gradually induces the evolution of the accounting profession. How is it changing? If locally installed accounting software has been assisting business managers and accountants for a long time, the novelty lies elsewhere. Online software or SaaS software allows:

• real-time data updates,
• access to accounts at any time and from anywhere with simple internet access or a mobile application, all thanks to the cloud,
• a better global follow-up thanks to monitoring dashboards.

As such, they became necessary to ones willing to improve their process.

⚒️ Looking for more? Check out our best accounting software.