Six Best Accounting and Finance Tools for Small Business

The first accounting applications for small business back in the early 90s were mostly repackaged, repriced versions of highly complex suites first designed for large companies. They were generally highly complex, loaded with unneeded features, and difficult to use, even for accountants. New vendors emerged to challenge those market incumbents with simpler, easier-to-use products better designed for small business needs, though they still required management overhead.

Small business accounting softeare - Xero

Today’s SaaS-based accounting and finance tools are affordable, easy to use, and impressively sophisticated. They enable even the smallest businesses to cost-effectively maintain accurate books while staying tax- and standards-compliant.

Painless small business accounting software - FreshBooks

The half-dozen tools here enable small to midsized businesses to efficiently manage invoicing, purchase orders, expenses, payroll, reporting, taxes, and more.

Accounting Software

1) Xero
Google Review Count: 203

Online accounting software with functionality for invoicing and quoting, inventory tracking, purchase orders, billing and expenses, and payroll, plus integration with more than 500 apps for timesheets, ecommerce, expense management and more.

Sample review: “These top back-office tools will help you grow…(check out) Xero for your accounting needs.” — Marketing Insider Group

Pricing: $9/$30/$70 per month

Showcase reviews: Marketing Insider Group

2) FreshBooks
Google Review Count: 170

Web-based small business accounting software that handles invoicing, expenses and receipts, project management, time tracking, online payments, and financial reporting.

Sample review: “FreshBooks makes it remarkably easy to do everything yourself without expensive accounting software. FreshBooks allows you to easily create, send & track professional invoices, and even allows you to accept payments via credit cards.” — AppStorm

Pricing: $15/$25/$50 per month

Showcase reviews: AppStorm, StoreYa Blog

3) QuickBooks
Google Review Count: 166

Online or on-prem accounting software with a range of features including inventory control, payroll and employee records, purchasing and vendor management, reporting, pricing, and more.

Sample review: “Quickbooks is an oldie, but a goodie. This accounting software is now mobile, so you can check balances, send invoices, and receive payments wherever you are. You can also include the option for customers to pay you online.” — B2B PR Sense Blog

Pricing: $15/$30/$40 per month; $200 one-time; enterprise pricing by quote

Showcase reviews: B2B PR Sense Blog, StoreYa Blog

4) Wave Accounting
Google Review Count: 141

Create and send invoices, estimates and receipts; track the status of invoices and payments; process credit cards, scan receipts, manage payroll, and produce financial reports.

Sample review: “Free features and tools with Wave. The free tools include an accounting tool, invoice services, receipt management, and a general financial tracker.” — StoreYa Blog

Pricing: basic accounting app is free; payroll is $15 plus $4 per employee, per month; credit card processing is by transaction

Showcase reviews: StoreYa Blog

Sales Tax Reporting

1) TaxJar
Google Review Count: 183

TaxJar makes sales tax filing easier for online merchants. Sign up for TaxJar and then connect to the platforms or channels you sell through. Most channels can be connected in seconds with just a few clicks.

Sample review: “(TaxJar) integrates with the platforms you use, such as Square, to generate automated sales tax reports that calculate your totals by city and state. They will even automatically file your forms for you if you wish!” — B2B PR Sense Blog

Pricing: $19/$49/$99 per month; contact vendor for enterprise pricing

Showcase reviews: B2B PR Sense Blog

Invoicing Software

1) Slimvoice
Google Review Count: 80

Create, manage, and send invoices for free. Enter cash and check payments to keep track of outstanding balances. Accept credit cards on your invoices by connecting your Stripe account.

Sample review: “Create, manage, export, and send unlimited invoices for free.” — StoreYa Blog

Pricing: free; credit card processing is by transaction

Showcase reviews: StoreYa Blog

Showcase Reviews

B2B PR Sense Blog
Marketing Insider Group
StoreYa Blog

This was the 34th post in the Best Online Business Tools series.

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Source: Webbiquity