

Are you looking for a way to control your cash flow? Find out which software will help you manage all your accounting needs.
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If you’re already familiar with traditional accounting software, then you’ve already got the general idea of what cloud accounting is. Cloud accounting performs all the same functions as traditional accounting software, except that it’s all done in the cloud.
What that essentially means is that everything you do on the platform is saved instantaneously and in real-time, on a remote server. This is different from traditional software because those types of programs require large amounts of physical IT infrastructure and storage in order to handle the amount of data.
Traditional programs also require installation and often need to be customized to fit the specific needs of the business using them. There’s no need for that for cloud programs, which can be used on browsers and mobile apps and can easily be tailored to specific business needs without any major IT modifications.
But what are the major benefits and selling points of cloud accounting software? What kind of new and innovative features do they offer that traditional software doesn’t? And, what are the leading cloud accounting programs?
Keep reading to find out the answers to all these questions and more!
With SaaS advancing at an accelerated pace, sometimes it’s hard to find the software that is best suited for your business. We’ve compiled a list of what we think are the five best cloud accounting software programs out there.
![]() FreshBooks | ![]() QuickBooks | ![]() Xero | ![]() Zoho Books | ![]() Wave Accounting |
For all companies | For companies with 1 to 50 employees | For companies with more than 1 employees | For all companies | For companies with 1 to 250 employees |
Learn more about FreshBooks | Learn more about QuickBooks | Learn more about Xero | Learn more about Zoho Books | Learn more about Wave Accounting |
With 2.5 million users around the world, QuickBooks is the most trusted cloud accounting software program among small businesses. With their powerful and easy-to-use interface, small business accounting is no longer a long and tedious process.
QuickBooks offers a wide range of features that, among other things, allow you to:
QuickBooks has four plans for different business needs:
Like the rest of these programs, Xero is a cloud accounting solution designed to provide businesses with tools for their every accounting need. It allows you to manage and coordinate all of your accounting and financial processes in one simple and easy-to-use platform.
Xero is specifically designed for small to medium-sized businesses that don’t have time to waste on figuring out all the technical details of accounting. More than accounting, it also drastically improves collaboration across teams and departments in a business.
This software is trusted by over two million small businesses, accountants, and bookkeepers across the globe.
Some of Xero’s best features include:
Xero has three plans:
Zoho Books is a cloud accounting software that allows you to easily manage the money that comes in and out of your business, otherwise known as the basics of accounting. In addition, it allows you to properly manage clients, invoices, budgets, and finances, everything that will help your company keep expenses under control.
Some of Zoho Books features include:
Zoho Books has six plans:
FreshBooks is a cloud accounting software built for business owners and accountants. It’s one of the fastest ways to keep track of time spent, organize your expenses, and bill clients.
There’s a reason why over five million users trust Freshbooks, what used to take hours with traditional accounting software will take just minutes.
Some of the best features FreshBooks has to offer include:
FreshBooks offers four plans:
Wave is a free invoicing, billing, and above all cloud accounting software. It bundles all the essential tools businesses need to deal with accounting up into one interface. It’s incredibly easy to use, intuitive and can be used from practically anywhere.
Some of Wave’s accounting features include:
We saved the best part for last, Wave’s accounting features are free! Unless you decide to accept payments or pay for extra add-ons like a personal advisor, you won’t have to pay a dime.
As we laid out already, cloud accounting software is a more convenient version of traditional accounting programs. But that’s not all there is to cloud accounting software. Some of the sticking and selling points making businesses switch to cloud accounting include:
Name |
Features |
Price |
-Accounting Dashboard -Accounting Entries -Balance Sheets -Bank Statement Import -Bank Synchronization -Cash Flow Forecasting -Billing and Invoicing -Document Management -Cash Flow Management -Consolidation |
Four Plans: - Simple Start: $25/month - Essentials: $50/month - Plus: $80/month - Advanced: $180/month |
|
-Connect to your Bank -Real-time collaboration -Pay Bills -Claim Expenses -Accept Payments -Track Payments -Pay Runs -Bank Reconciliation -Reporting -Inventory -Send Invoices -Multi-currency -Purchase Orders -Sales Tax -Analytics |
Three Plans: - Starter: $22/month - Standard: $35/month - Premium: $47/month |
|
-Invoicing -Estimates -Client Portal -Expenses -Bills -Banking -Projects -Inventory -Sales Orders -Purchase Orders -Tax -Online Payments -Reporting -Automation -Documents -Vendor Portal |
Six Plans: - Free - Standard: $20/month - Professional: $50/month - Premium: $70/month - Elite: $150/month - Ultimate: $275/month |
|
-Invoicing -Expenses -Time-Tracking -Project Management -Payments -Reporting -Accounting -Mobile Use -Estimates |
Four Plans: - Lite: $4.50/month - 5 Billable Clients - Plus: $7.50/month - 50 Billable Clients - Premium: $15/month - Unlimited Billable Clients - Select: Custom Pricing - Unlimited Billable Clients and Specialized Features |
|
-Invoicing -Payments -Accounting -Banking -Payroll -Advisors |
Different Pricing for Different Features: - Invoicing: Free - Accounting: Free - Banking: Free - Payments: Credit Cards: 2.9% + $0.60 per transaction 3.4% + $0.60 per AMEX transaction Bank Payments: 1% per transaction - Payroll: Tax Service States: $35/month Self-Service States: $20/month - Advisors: Bookkeeping Support: $149/month Accounting and Payroll Coaching: $329 one-time fee |
So, as you’ve seen in this article, cloud accounting doesn’t only save you time and energy, it also saves you tons of money. Whether it be by eliminating the need for heavy initial investment on technical infrastructure, or the dynamic pricing plans of some of these plans, you and your wallet won’t be disappointed that you decided to make the switch.
So what are you waiting for?