software backgroundSmall Business, Big Finances: Improve Your Accounting With The 11 Best Financial Software

Small Business, Big Finances: Improve Your Accounting With The 11 Best Financial Software

By Coralie Petit
Published: 2/14/24

Welcome to the future of small business accounting! Everyone agrees, finding the perfect financial software is key to success. Say goodbye to manual processes with our curated selection of top picks, designed to streamline invoicing, track expenses, and empower your business.

From startups to established enterprises, our hand-picked tools meet every need!

Revolutionize your accounting and drive growth with the right tools in hand. Let's unlock the full potential of your small business together! 💻

Our Top Picks of Financial Software For Small Businesses

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FreshBooks

Melio

Neat Small Business Solutions

NetSuite

ONE UP

QuickBooks

Sage 50 Accounting

Wave Accounting

Xero

ZarMoney Cloud Accounting

Zoho Books

For all companies For companies with 1 to 250 employees For companies with more than 1 employees For all companies For all companies For companies with 1 to 50 employees For companies with more than 1 employees For companies with 1 to 250 employees For companies with more than 1 employees For all companies For all companies

Paid version from $12.95 /month

Free versionFree trialFree demo

Pricing on request

Free versionFree trialFree demo

Pricing on request

Free versionFree trialFree demo

Paid version from €499.00 /month

Free versionFree trialFree demo

Pricing on request

Free versionFree trialFree demo

Paid version from €10.00 /month

Free versionFree trialFree demo

Pricing on request

Free versionFree trialFree demo

Pricing on request

Free versionFree trialFree demo

Paid version from $20.00 /month

Free versionFree trialFree demo

Pricing on request

Free versionFree trialFree demo

Pricing on request

Free versionFree trialFree demo
Learn more about FreshBooks Learn more about Melio Learn more about Neat Small Business Solutions Learn more about NetSuite Learn more about ONE UP Learn more about QuickBooks Learn more about Sage 50 Accounting Learn more about Wave Accounting Learn more about Xero Learn more about ZarMoney Cloud Accounting Learn more about Zoho Books

FreshBooks

Freshbooks Screenshot© FreshBooks

FreshBooks freshens up your finances with ease with its user-friendly cloud accounting software, trusted to save time and grow their businesses, the ideal software for small business!

⚒️ Key Features and Benefits

  • Payment Processing: Online payments are securely and conveniently processed from FreshBooks through integrated payment gateways and automated payment reminders, streamlining cash flow and improving collections. Get paid faster and more easily than ever before!
  • Expense Capture: Capture receipts on-the-go with the FreshBooks mobile app, eliminating paper clutter and ensuring all expenses are accounted for, simplifying tax preparation and reducing audit risk. Say goodbye to lost receipts and audit nightmares!
  • Insightful Reporting: Detailed financial reports and insights are available in the app, including profit and loss statements, expense reports, and sales tax summaries, for better business decision-making and strategic planning. Make smarter decisions and drive your business forward with data-driven insights!
  • Time Tracking: Easily track billable hours and project expenses with built-in timers and automatic invoicing for accurate billing, helping you increase chargeable hours and improve cash flow. Get paid for every minute of your hard work! 💪

💶 Pricing

Pricing plans start at $15/month.

FreshBooks

+200 reviews

All-In-One Small Business Invoicing and Accounting Solution
Learn more about FreshBooks

Melio

Melio Screenshot© Melio

Melio is the money management marvel designed for small businesses! This all-in-one payment solution makes paying bills and managing expenses a breeze. Quite the perfect financial software to focus on growing your business!

⚒️ Key Features and Benefits

  • Simplified Bill Payments: Say goodbye to paper checks and manual bill payments with Melio's easy-to-use platform. Pay bills online with just a few clicks, saving you time and hassle. ​​Plus, track payment status and due dates effortlessly. ⏲️
  • Vendor Management: Pay vendors the way you want while keeping track of all them and suppliers in one place, streamlining communication and ensuring smooth transactions. Having vendor’s profiles and payment records will benefit the clients relations!
  • Automatic Syncing: All of your payments can be seamlessly synchronized with your accounting software, eliminating the need for manual data management and entry, ensuring accuracy across your accounting records. Melio is also compatible with popular accounting platforms, such as QuickBooks and Xero.
  • Payment Scheduling: Schedule payments in advance and set up recurring payment for bills, helping you stay organized and avoid late fees. You also receive notifications for upcoming payments to stay on top of your financial obligations. Never miss a payment deadline again! 📅
  • Secured Transactions: Rest easy knowing that your payments are processed securely with bank-level encryption and fraud protection measures, keeping your financial information safe and secure. Melio prioritizes your security and peace of mind!

💶 Pricing

Melio has a starting free plan including ACH bank transfers. Then, pricing will depends on chosen options.

Melio

+200 reviews

Revolutionizing B2B Payments & Amplify Cash Flow
Learn more about Melio

Neat

Neat Screenshot© Neat

Neat is your neat solution for accounting documents management! This tool is an efficient financial software for any small business, making accounting record-keeping easier.

⚒️ Key Features and Benefits

  • Efficient Document Scanning: Digitize paper documents quickly and easily, reducing manual data entry and paper storage costs. Neat is compatible with various scanners and mobile devices, such as iOS and Android devices, and any popular scanner models, like Epson Workforce.
  • Automatic Data Extraction: Neat automatically extracts important information from receipts and invoices, saving time and ensuring accuracy in your accounting records, perfect for small businesses!
  • Customizable Organization: Organize documents with customizable categories and tags, making it easy for you to find what you need, when you need it! Say goodbye to lost documents and wasted time searching. 🚀
  • Integration with Accounting Tools: Seamlessly sync this tool with your accounting software like QuickBooks and Xero, ensuring that your financial data is up-to-date and accurate. Simplify your workflow and eliminate double data entry!
  • Mobile Accessibility: Access your documents anytime, anywhere with the mobile app. Stay connected, efficient and productive on the go and never miss a significant document again!

💶 Pricing

The basic plan starts at $288/year.

Neat Small Business Solutions

Effortless Document Organization and Data Management
Learn more about Neat Small Business Solutions

NetSuite

NetSuite Screenshot© NetSuite

NetSuite is a comprehensive ERP that helps small business manage their finances efficiently. This tool offers integrated solutions to manage accounting, streamline operations, and drive growth through an intuitive interface.

⚒️ Key Features and Benefits

  • Seamless Accounting Integration: Easily integrate with top accounting platforms like FreshBooks for smooth data flow and accurate accounting reporting. Eliminate manual data entry and streamline accounting processes with an effortless synchronization. Small businesses can optimize financial management and focus on business growth with simplified integration !
  • Streamlined Workflows: Streamline your workflows with automated, reducing manual errors, from order fulfillment to invoice processing. Spend less time on paperwork and more time on what you do best—growing your business!
  • Customizable Dashboards: Personalize your dashboard to display the metrics and KPIs that matter most to your small business. Keep tabs on cash flow, sales trends, and more, all in one convenient location.
  • Built-in Scalability: Grow your business confidently with a scalable platform. Whether you're a one-person startup or a growing SMB, NetSuite grows with you, adapting to your changing needs. 🤝
  • Advanced Reporting: Dive deep into your small business's performance with advanced reporting capabilities. Uncover hidden opportunities, track key metrics, and make data-driven decisions with ease. Say goodbye to guesswork and hello to clarity!

💶 Pricing

Pricing upon request—depending on your needs.

NetSuite

The #1 Cloud ERP for implementing your scalability
Learn more about NetSuite

One Up

One Up Screenshot© One Up

One Up is your small business’s sidekick! This software is a business and baking all-in-one solution, offering many features ideal to keep a look at financial matters and boost productivity. Managing your finances has never been easier!

⚒️ Key Features and Benefits

  • Automated Accounting: No more manual data entry with the automated accounting features. Save time and reduce errors by automating repetitive tasks like invoice creation and expense tracking. Your accounting records practically update themselves!
  • Expense Analysis: Dive deep into your business's expenses with analysis tools. Identify areas of overspending, pinpoint cost-saving opportunities, and keep a track of cash flow forecasting, helping you maximize profitability.
  • CRM Integration: Your customer relationship management (CRM) data can be seamlessly integrated with your financial data. Gain insights into customer buying behaviors and preferences, allowing you to tailor your offerings and improve customer satisfaction!
  • Inventory Management: Keep tabs on your inventory levels in real-time with the inventory management tools. The software tracks stock levels, manages suppliers and automates reording and supplies run low, ensuring you have the right products on hand when you need them.
  • Mobile Accessibility: Your accounting data can be accessed anytime and anywhere through the mobile app. Stay connected to your business even when you're on the go, making informed decisions whenever and wherever inspiration strikes.

💶 Pricing

Pricing is ideal for small businesses, starting at $9/month, up to $169/month for the most advanced version.

ONE UP

12 reviews

Reinvent your business
Learn more about ONE UP

QuickBooks Online

QuickBooks Screenshot© QuickBooks

QuickBooks Online? The solution for quick accounting. This software is a cloud-based accounting software popular worldwide among small businesses. Get ready to streamline your finances and take control of your business’s financial future!

⚒️ Key Features and Benefits

  • Easy Invoicing: Create professional invoices in minutes and get paid faster through this software. You can also customize invoices to match your brand and track payments effortlessly, quite ideal for small businesses.
  • Expense Tracking Tool: No more shoebox accounting! Expenses are easier to track as you can categorize transactions any time you want, even on the go with the QuickBooks Online mobile app. No receipt left behind!
  • Bank Reconciliation: Keep your books in tip-top shape with automatic bank reconciliation. Your transactions automatically match with your bank feeds in a snap, and you don’t have to manually enter data. This is a necessary tool for businesses needing time to focus on growth!
  • Tax Time Made Easy: Say goodbye to tax season stress, QuickBooks Online deals with administrative tasks through tax preparation tools. Easily track deductible expenses, generate tax reports, and maximize your deductions. 😇
  • Insightful Reporting: Gain valuable insights into your business's performance with comprehensive reporting features directly in the software. Track profitability, monitor cash flow, and make informed decisions for your small business's future.

💶 Pricing

QuickBooks Online has 3 plans, fitting your budget. Pricing starts at $18/month, up to $38/month.

QuickBooks

+200 reviews

The world's leading accounting software for small businesses
Learn more about QuickBooks

Sage 50 Accounting

Sage 50 Accounting Screenshot© Sage 50 Accounting

Sage 50 Accounting is a small business’s command center! From invoicing to budgeting, this software helps you navigate the complexities of finances. Everything you need to know is centralized in one app!

⚒️ Key Features and Benefits

  • Advanced Invoicing: Create professional invoices and quotes in minutes with Sage 50 Accounting’s advanced invoicing features, specifically created for small businesses. Customize templates, track payments, and streamline your accounts receivable process. It’s everything you need to manage your finances with ease!
  • Budgeting and Forecasting: Set budgets, track expenses, and forecast future cash flow with perfect tools. Plan for growth and make informed decisions to achieve your business goals. Your payroll processing has never been this easy.
  • Inventory Management: Manage inventory levels, track stock movements, and optimize your inventory with robust inventory management features. Inventory turnover is optimized for better cash flow management!
  • Secure Cloud Backup: Keep your accounting data safe and secure with advanced security features. Rest easy knowing that your data is protected from data breaches, unauthorized access, and hardware failure with built-in encryption and multi-layered security protocols. 🔐
  • Payroll Processing: Streamline payroll processing with Sage 50's payroll features. Calculate employee wages, manage tax withholdings, and generate paychecks with ease. Say goodbye to payroll headaches and hello to efficiency!

💶 Pricing

Many online plans are available, pricing starts at $59/month.

Sage 50 Accounting

Manage Your Finances Like a Pro, No Accounting Degree Needed
Learn more about Sage 50 Accounting

Wave

Wave Screenshot© Wave

Wave is a financial wave maker! 🌊 🏄 Dive into seamless accounting management with an all-in-one software designed to simplify your small business finances and propel your growth. Say hello to effortless accounting and streamlined operations!

⚒️ Key Features and Benefits

  • Invoicing Excellence: Wave makes creating and sending professional invoices a breeze. Customize invoices with your branding, track payment status, and get paid faster—all in one intuitive platform. The user-friendly interface ensures smooth invoicing processes and improved cash flow for your business.
  • Expense Tracking Mastery: No more spreadsheet chaos and manual data entry with powerful expense tracking tools. Capture receipts on the go with the mobile app, categorize expenses effortlessly, and gain insights into your spending patterns. This software helps you stay organized and in control of your finances, saving you time and reducing errors.
  • Bank Reconciliation Magic: Match transactions, detect discrepancies, and ensure your accounting records are always up-to-date. With this software, reconciling accounts is a breeze, giving you peace of mind and confidence in your financial data.
  • Payroll Perfection: Simplify payroll processing and ensure compliance with comprehensive payroll management tools. Calculate employee salaries, handle tax deductions, and generate pay stubs effortlessly—all within the platform. It takes the hassle out of payroll, allowing you to focus on what matters most—growing your business. 💼
  • Financial Reporting Brilliance: Access powerful accounting reports and gain valuable insights into your business performance with advanced reporting capabilities. Track key metrics, identify trends, and make data-driven decisions to drive your business forward. It makes it easy to understand your finances better and make informed decisions for growth and success.

💶 Pricing

Wave has 2 plans, including a starting free plan and pro plan at $16/month.

Wave Accounting

+200 reviews

Accounting Software That Works as Hard as You Do
Learn more about Wave Accounting

Xero

Xero Screenshot© Xero

Xero is your financial champion! This cloud-based accounting software is a popular option for small businesses worldwide. With Xero by your side, you can streamline your accounting processes, gain valuable insights, and take control of your finances like never before!

⚒️ Key Features and Benefits

  • Inventory Management: Unlock the full potential of your inventory with advanced inventory management tools. Track stock levels, manage reorders, and optimize inventory turnover for improved cash flow and profitability. You stay on top of your inventory and you never miss a sale opportunity!
  • Expense Claim Efficiency: Streamline expense claims and reimbursements with the expense claim feature. Employees can submit expenses on the go using the Xero mobile app, and managers can review and approve claims with ease. It simplifies the expense management process, saving time and reducing administrative burden.
  • Payment Solutions Integration: Seamlessly integrate payment solutions to streamline your payment processes. Accept online payments, set up recurring billing, and track payment status—all within one platform. It is convenient and hassle-free, enhancing your customers' experience and improving cash flow. 💳
  • Project Tracking Expertise: Take control of your projects and track their financial performance with the tracking feature. Monitor project expenses, track billable hours, and generate accurate project reports for better project management and decision-making. Managing projects has never been easier.
  • Cloud Collaboration: Collaborate with your team and advisors in real-time with a cloud-based platform. Share accounting data, collaborate on documents, and communicate effortlessly, regardless of location. Collaboration features promote teamwork and productivity, driving your business forward.

💶 Pricing

Xero is perfect for small businesses as the pricing starts at $3/month.

Xero

+200 reviews

Empower Your Business with Smart Accounting Solutions
Learn more about Xero

ZarMoney

ZarMoney Screenshot© ZarMoney

ZarMoney simplifies your small business finances! This user-friendly accounting software empowers you to manage your finances with ease. From tracking time to handling transactions, ZarMoney offers a range of features to support your financial needs and goals.

⚒️ Key Features and Benefits

  • General Ledger Management: Simplify your accounting processes with a general ledger management feature. Easily record and categorize financial transactions, keep accurate balance sheets, generate detailed accounting reports, and ensure data integrity and streamline accounting operations for efficiency and accuracy.
  • E-commerce Integration: Your online sales platforms can be seamlessly integrated with this software. Sync orders, manage inventory, and track sales performance to streamline your e-commerce operations.
  • Customizable Reporting: Generate custom reports tailored to your business needs with reporting tools. Analyze financial data to make informed decisions and to drive business growth.
  • Multi-currency Support: Conduct transactions in multiple currencies with the multi-currency support. Manage exchange rates and track foreign currency accounts to expand your business globally. 🌎
  • Time Tracking: Record billable hours and manage timesheets with ZarMoney's time tracking feature. Keep track of employee productivity and bill clients accurately for their time.

💶 Pricing

ZarMoney pricing is meant for small businesses and small budgets, with a starting plan at $2/month.

ZarMoney Cloud Accounting

All-in-One Accounting Software
Learn more about ZarMoney Cloud Accounting

Zoho Books

Zoho Books Screenshot© Zoho Books

Zoho Books is the virtuoso accounting software that orchestrates your small business finances with finesse. From harmonizing transactions to composing insightful reports, Zoho Books conducts your financial symphony with precision and flair!

⚒️ Key Features and Benefits

  • Bank synchronization: Sync your bank feeds seamlessly with Zoho Books and experience the rhythm of automated reconciliation. No more manual entry required for accurate accounting records.
  • Accurate Financial Reporting: Through financial reporting capabilities, generate detailed reports on income, expenses, and cash flow effortlessly. With accurate financial insights, make informed business decisions and propel your growth strategy forward.
  • Client Portal: Invoices and estimates are put available in the client’s portal so they can keep a track on it. It fosters harmony in client relationships and interactive communication.
  • Automated Workflows: Productivity is boosted with Zoho Books' automated workflows, leading to better efficiency. From invoicing to expense approvals, the software conducts your business processes with precision.
  • Mobile App: Take your business on the go with Zoho Books' mobile app, where accounting management becomes possible at any time, and anywhere. Conduct transactions, manage expenses, and stay in tune with your business wherever you are. The perfect tool to boost growth! 🚀

💶 Pricing

Zoho Books has a free plan, and pricing starts at $12/month for more featured versions.

Zoho Books

+200 reviews

Intuitive Cloud Accounting Software
Learn more about Zoho Books

FAQ: Overview on Financial Software & our Tips for Small Businesses

What Are Financial Software?

Sometimes, we happen to wonder if anyone actually likes accounting. Well, whether you like it or not, accounting is crucial for every business… Let’s briefly explain what a financial software is.

In concrete terms, financial software are a digital tool to assist individuals or businesses in managing their finances efficiently. It serves as a centralized platform where users can:

  • input,
  • store,
  • organize,
  • and analyze accounting data (incomes, expenses, assets, liabilities…).

You may also customize options to meet your needs, using workflows and real-time insights. Quite the perfect tool for every small business !

To sum this up, it’s the magic wand of every accountant or business owner. 🧚

What Are the Benefits Of Using Financial Software?

Financial Software are not widely used for no reason. Those tools benefit you in many ways, making your accounting journey simpler and smoother. You won’t be able to live without it. 😉

Streamlined Financial Management

  • Features: Accounting software automates tedious accounting tasks, streamlining financial management processes such as invoicing, expense tracking, and reconciliation.
  • Benefit for your company: saving time and reducing errors. 🕰️

Improved Accuracy

  • Features: With built-in error-checking options to accounting standards, financial software ensures accurate records and facilitates compliance with regulatory requirements.
  • Benefit for your company: minimizing the risk of penalties and audits. No more mistakes! ✅

Enhanced Decision-Making

  • Features: By providing real-time insights into financial performance, businesses can make informed decisions, identify areas for improvement, and seize growth opportunities.
  • Benefit for your company: the key for long-term success. 🚀

Increased Efficiency and Productivity

  • Features: With accounting software, no more manual data entry and repetitive tasks, freeing employees up for valuable time to focus on strategic activities and business growth initiatives.
  • Benefit for your company: boosting overall efficiency and productivity within the organization. 📈

Better Money Management

  • Features: Ensure stability with features such as cash flow forecasting and automated payment reminders, accounting software optimize cash flow.
  • Benefit for your company: avoiding late payments and reducing unnecessary costs. 💸

Enhanced Collaboration and Accessibility

  • Features: Many accounting software solutions have cloud-based platforms that enable remote access and collaboration among team members.
  • Benefit for your company: seamless communication, data sharing, and decision-making, regardless of location or device. 🌍

What Are the Essential Features to Look for in Financial Software?

Here we are, you are ready to take the plunge… But you don’t know how to choose THE perfect software for your small business. Don’t worry, if you’re struggling to pick among our 11 top software, here are 9 key elements to look for in financial software.

  1. Invoicing and billing options ensure efficient invoicing capabilities to create and send professional invoices with ease. Look for features that enable customization of invoices and automate billing processes, saving you time and effort in managing transactions.
  2. Expense tracking allows you to keep track of all your business expenses accurately. Look for integration with bank accounts and credit cards for automatic synchronization of expenses, streamlining the tracking process and providing real-time insights into financial activities. Hassle-free!
  3. Financial reporting within the software enables you to generate customizable financial statements and reports, such as profit and loss statements. Make sure that the software allows in-depth analysis of accounting data and tracking of key performance indicators (KPIs) to help you make informed decisions.
  4. Scalability and Integration put your business on the way to success! Your chosen software should be able to handle increased volumes of data and users as your business expands. Additionally, look for software that integrates with other tools you use, such as customer relationship management (CRM) software or payroll systems.
  5. Budgeting and forecasting help you create and manage budgets. The software should allow you to set financial goals and track your progress towards them. Additionally, look for forecasting features that can predict future financial outcomes based on your current performance and trends.
  6. Bank reconciliation makes it easy to reconcile transactions, meaning you can match up the records in your software with those in your bank statements. It helps prevent errors and ensures your accounting records are accurate.
  7. Tax compliance is an important point to look for in a software. It should have features that calculate your taxes accurately and remind you of significant deadlines. Additionally, it should assist with filing taxes electronically to make the process smoother.
  8. Security and data protections is a priority when it comes to financial software for any business. It should have robust security measures in place to protect your accounting data from unauthorized access. Make sure the software complies with data protection regulations to keep your information safe. Security first!
  9. Budget: small businesses have fewer means than huge companies, and it’s crucial to avoid going over budget! Choose wisely and make compromises.

The choice is up to you!

Picking the right accounting software for your small business is a critical decision that can significantly impact your financial management and overall success.

By exploring the key features and benefits of our various software options, you now have the knowledge and insights needed to make an informed choice. Whether you prioritize streamlined invoicing, efficient expense tracking, or comprehensive reporting, there's a software solution meant to meet your specific needs.

Remember to consider factors such as user-friendliness, scalability, and integration capabilities when making your decision for your business. With the right financial software in place, you can streamline your accounting processes, gain valuable insights into your business's financial health, and focus on what matters most—growing your business.

Take the time to evaluate your options carefully, and empower your small business with the perfect financial software solution today! 🚀

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