Top 5 Accounting Software for Your Business

If you own a business you are the one who knows very well the importance of finance management. Managing a business without accounting software is a very difficult task. Things can become complicated if accounts are not kept properly. This top 5 accounting software will make your task easy.

Why accounting software is important?

Finance management is a very crucial factor of a successful business. Businesses can run without trade with vendors and customers. All trade with such business entities must be recorded to keep track of credit and debit. In old days, such records were kept in books ad so the process is called bookkeeping.

In the modern era, physical bookkeeping is out of scope and a difficult task. Software accounting tools made those tasks easy. Using accounting software in your business is true to the use of computer technology at a common scale.

Accounting software is so important in any business because of the following reasons,

  • To create, record and print bills, invoices
  • To record, make and track collected or paid payments
  • To track and analyze business spendings
  • Bank reconcilation
  • Tax calculation
  • Inventory management
  • To calculate profit and loss of business

Which is the best accounting software?

Accounting software allows easy management of your financial transactions, inventory and generates accurate reports is the best accounting software. Best accounting software allows cross-platform access to your financial status. Such accounting tools minimize accounting mistakes and improve users’ productivity. Top accounting software in the market support cloud storage so the authorized person can operate it from anywhere in the world.

tax forms and calculator in close up view
Photo by Polina Tankilevitch on Pexels.com

How to choose good accounting software?

Choosing good accounting software is not an easy task because you are risking your accounting efforts to try on this. Going with popular accounting software that fits your budget and has features to fulfill your need is the best option. You have to compare what you want with the features of the following top 5 accounting software to choose the best one. While choosing good accounting software for your business you must consider the following key points,

  • Local tax sceme readyness
  • Local bank integration & reconcilation compatibility
  • Easy recivable and payble account
  • Cash and accural based accounting
  • Payment gateway compatibility
  • Simple interface and easy reporting
  • Pricing

Considering various accounting features availability and market acceptance following is 

Top picks for the best Accounting Software:

  1. AccountEdge Pro
  2. FreshBooks
  3. Sage 50cloud Accounting
  4. QuickBooks Desktop
  5. Zoho Books

1 AccountEdge Pro

AccountEdge Pro

AccountEdge Pro is a top-rated and powerful desktop accounting software for small businesses. It is a complete small business accounting and management solution for your Mac office, with everything you need to make sales and purchases, track and build inventory, the bill for time, and manage contacts.

Features :

  • Manage your banking, credit card, and expense accounts
  • Set up your recurring transactions once
  • Departments and Profit Centers
  • Track company mileage
  • Add journal entries quickly
  • Secure your important business information

Price :

2 FreshBooks

FreshBooks

FreshBooks is an online accounting software application that works well for sole proprietors and freelancers. The Retainers feature in FreshBooks also makes it ideal for attorneys, accountants, or any professional that charges their clients a retainer fee.

Features :

  • Customizable Invoices
  • Payment Reminders
  • Automatic Late Fees
  • Accept Credit Cards
  • Recurring Invoices
  • Time Tracking
  • Collaborate With Your Team
  • Easy to Read Summary

Price:

  • Starting plan fron $4.5 /mo
  • Free trial and 70% offer for 3 months

3 Sage 50cloud Accounting

Sage 50cloud Accounting

Sage 50cloud Accounting is a hybrid accounting solution. It is a good choice for small and growing businesses. Sage 50cloud Accounting includes a tough inventory module. It can be integrated with multiple point-of-sale (POS) applications, hence it is suitable for retailers.

Features:

  • Sncing Microsoft Outlook contacts and Sage 50cloud contacts
  • Accept payments on the go by combining Sage 50cloud with Sage Payment Solution
  • Link directly to bank accounts to record sales and receipts in real time
  • add-on solution for stock and inventory management
  • Work and collaborate from anywhere with applications such as Word, Excel, PowerPoint

Price:

  • Starter plan $340/year

4 QuickBooks Desktop

QuickBooks Desktop

QuickBooks Desktop is intuitive accounting software that can be installed on your office computer. QuickBooks Desktop includes several new features that are designed to streamline various accounting processes. Th

Features :

  • Ability to consolidate invoices into a single email
  • Enhanced system navigation
  • Expanded help capability
  • Automatic payment reminders sent to past due customers

Price :

  • Starter plan fron $199.99/year
  • Cloud version plan $12.5/mo

5 Zoho Books

Zoho Books

Affordable for even the tightest budget small budget business. Zoho Books includes an inventory management feature. World wide localized of experience of tax assessment features. If you’re a sole proprietor, freelancer, or starting a brand new business, Zoho Books is the best of the top 5 accounting software for you.

Features:

  • Cost affordable
  • Contact Management
  • Project Time Tracking
  • Online Payments
  • Invoices
  • Inventory Management
  • Invoice Templates
  • Accounting
  • Tax
  • Expenses
  • Automatic Bank Feeds
  • Mobile Apps
  • Purchase Order
  • Collaborative Client Portal
  • Exhaustive Reports
  • Sales Order

Price :

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