QuickBooks securely stores your data and keeps it up-to-date across all your devices. NetSuite provides you with inventory categorization based on the volume of transactions and value and scheduling of regular, periodic counts of on-hand quantities through their Inventory Management software. Xero, on the other hand, enables you to manage as many companies as you want, but you have to pay for each company separately with a discount for a larger amount. Through the use of online donation tools, custom communications, donor database reports, and event registration capabilities, Aplos allows you to fundraise more effectively.
The Best Cloud Accounting Software Reviews
Accounting software is software that automates the most important bookkeeping tasks for small businesses. Depending on the type of accounting software you invest in, the software will help you create and send invoices, track projects and spending, and much more. Keep track of your unpaid and overdue invoices, bank account balances, profit and loss, cash flow and bills to pay. We like FreshBooks for service-based businesses because it excels at producing proposals, tracking time on projects, and receiving payments—all key processes for service-based businesses. FreshBooks's primary function is sending, receiving, printing, and paying invoices, but it can also handle a business’s basic bookkeeping needs.
TrulySmall Accounting: Truly lacking some important features
Most accounting software providers sync with one or more popular payroll providers (Zoho Books, which doesn’t sync with most payroll software, is a notable exception). Xero, FreshBooks, and QuickBooks all sync with Gusto, our favorite payroll provider for small businesses. At $39 plus $6 per user per month, Gusto is also fairly reasonably priced.
- Automation enables accounting and finance teams to spend less time on the numbers and more time on higher-value tasks.
- And if you’re looking for a free solution to business’s invoicing and accounting needs, Wave is a good option.
- Using enterprise accounting software in conjunction with other platforms gives companies a real-time overview of all financial data in one place.
- To reduce the chances of incorrect transactions, it lets you set up transaction approval systems so that you can verify the bill before it’s processed — no more accidental or unauthorized payments.
Bring in your bank data
- Features include client management, multilingual and recurring invoicing, expense and mileage tracking, and reports.
- You can access the data through a desktop application that can't be accessed through any other device or network.
- And according to recent data by IBM, the average cost of a data breach reached $4.35 million in 2022.
- Configure the right mix of products or services and create accurate, professional quotes.
- These include NCH, Zoho Books, Kashoo, ZipBooks, Sunrise, GnuCash, TrulySmall Invoices and Wave Accounting.
- Xero lets you track fixed assets, which is an unusual tool in the category of small business accounting software.
The increased efficiency and productivity delivered by cloud accounting software has transformed and enabled businesses to flourish, even amid challenging industry climates. If you are in the process of choosing cloud accounting software for your business, consider your workflow requirements as you evaluate the features of each product. Zoho Expense easily integrates with accounting and invoicing platforms, travel apps, online reimbursement software, HR and project management platforms, and collaboration tools. Zoho Books is an online accounting software that automates workflows, manages your finances, and facilitates collective work across departments. Designed for both small and high-growth businesses, this intuitive cloud-based accounting system facilitates easy collaboration through its role-based access functionality. DocuPhase is a business process and accounting automation solution that simplifies workflow through document management, AP and AR automation, and workflow automation.
- We may be biased, but you can save around 8 hours a month on managing your accounts when you use QuickBooks Online.
- But while FreshBooks doesn’t limit your invoices, it does limit the number of customers you can bill each month.
- With these features in hand, you won’t have to supervise every part of the process.
- In addition to its free plan, ZipBooks offers two monthly fee-based plans, at $15 and $35 per month.
- Overall, though, Zoho Books is best for businesses that use other Zoho applications, but its appeal isn't limited to such cases.
- Wave’s core invoicing and accounting functionalities are free, but you will be charged a flat payment processing fee on every transaction.
Access Your Finances Anytime from Anywhere
Striven offers versions of its software that are tailored to particular industry needs. From manufacturing, legal and field services to consulting, retail, education and others, Striven has designed the features your business most needs in its accounting, CRM and inventory software. By creating strong and random passwords with the help of the best password generators, you can only strengthen the already foolproof data security system of cloud accounting software.
Small business accounting software also can generate reports that can help you discover new trends in how your business runs, which can increase your revenue over time. Many bookkeepers and accountants use QuickBooks to track their clients' finances, including cloud accounting both QuickBooks Online and QuickBooks Desktop. If you want more features than just the basics, accounting software typically starts around $10 to $15 a month. Xero, for instance, charges $13 for its most basic plan while FreshBooks starts at $15.
Payment processing
Those that had price increases that were reasonable fared better in our ratings. When evaluating providers for this year’s list of the best cloud accounting software companies, we focused on ease of use, cost, customer service, features and functions, variety of pricing plans and customer reviews. We focused on five distinct categories using 25 separate metrics to arrive at our ratings for the best providers. Zoho Books is the cloud-based accounting component of a larger suite of business solution tools.