Top 20 Best Accounting Software

best accounting software
Close-up Of A Businessperson’s Hand Calculating Invoice At Workplace

Best accounting software — Accounting software helps  bookkeepers, accountants and professionals keep accounting recordings, reports and also make the processing of a firm’s financial transactions easy. It also tracks financial transactions and offers instant reporting and analysis. You can also use it to manage accounts and further perform accounting operations.

With the tons of accounting software on the market, you would find a category of those ranging from simple, single-entry programs used for individual record keeping, to a more sophisticated, double entry system. Generally, their primary aim is to help you process payroll, account receivables, accounts payable, inventory, general ledger, and trial balance. 

Top 20 Best Accounting Software

Among the hundreds of accounting software you can find on the internet, we have made a list of the top 20. Check them out!

  • ZipBooks
  • Expensify
  • QuickBooks
  • Wave
  • FreshBooks
  • NetSuite ERP
  • Tipalti
  • Sage
  • AvidXchange
  • Rossum
  • Plooto
  • Bill.com
  • Tradogram
  • Yooz
  • DocuPhase
  • Zoho Books
  • FreeAgent
  • Invoiced
  • Bench Accounting
  • MYOB Essentials

1. ZipBooks

ZipBooks – Best accounting software

ZipBooks is one of the best accounting software with a clean, simple interface. It is a cloud-based tool which helps businesses keep their  focus on the numbers with a clutter-free design that makes accounting, billing, and expenses feel easy. With ZipBooks, you can also run intelligence reports, which should give you useful insights into the financial health of your organisation.

Features

  • Accounting functionality
  • Invoicing
  • Time tracking
  • Vendor and customer management

2. Expensify

Expensify

Expensify is one of the best office software to manage expenses. This software helps you organize your expenses and  manage them with clever tools like receipt scanning and credit card imports. To make things work smoothly,it further integrates with popular HR, travel, and accounting tools so that you don’t need to manually transfer data from multiple external software.

Features

  • Track expenses
  • Submit expense reports
  • Pay bills
  • Generate invoices
  • Collect payments
  • Track mileage
  • Plan trips 
  • Corporate credit card

3. QuickBooks

QuickBooks

QuickBooks is one of the best office accounting software. This software has been around for a long time as a desktop application, but now has an easy-to-use web app which makes it easier for anyone to use from any device. With QuickBooks you can enter profits and losses, categorize items, run quarterly reports, and be fully prepared for tax seasons. 

Features

  • Cloud Accounting 
  • Invoicing
  • Online Banking 
  • Accounting Reports 
  • Cash Flow Management 
  • Time Tracking

4.  Wave

Wave

Wave is one of the best cloud-based accounting software that covers everything from payments and invoicing to payroll. It also has bonus features like online payment solutions and mobile invoicing that help you send invoices and get paid quickly.

Features

  • Invoicing
  • Billing
  • Payment tracking
  • Payroll management
  • Finance management
  • Credit card processing
  • Receipt scanning

5. FreshBooks

FreshBooks – Best accounting software

FreshBooks is one of the best accounting software at helping  users address recurring invoices and subscriptions quickly. It has support for several online payment gateways, such as credit cards, PayPal, and Google Checkout. Through FreshBooks integrations with other known business applications, you can further organize your accounting processes. One good thing to point out is that FreshBooks is a complete suite. This means that the need for additional software is eliminated, which provides you full control over your financial operations from a single dashboard.

Features

  • Accept Credit Cards Online 
  • Easy Setup 
  • Automatic Payment Recording 
  • Automatic Expense Recording 
  • Recurring Payments and Auto-Bills
  • Fast Bank Deposits

6. NetSuite ERP

NetSuite ERP – Best accounting software

NetSuite ERP offers a general ledger integrated with other financial tools in eCommerce, sales, and marketing to help you grow your business. With NewSuite ERP, you can track your sales pipeline, manage leads, generate quotes, automate communication, and sync calendars with your teams for collaboration. It also lets you take care of stocks and order management, processing, and fulfillment.  

Features

  • A single tool to handle everything.
  • Modern and fully mobile
  • Business indicator
  • Configure once and run

7. Tipalti

Tipalti – Best accounting software

Tipalti is one of the best cloud-based payment automation and management software. It is best known for aiding businesses meet deadlines accurately. This software provides solutions to problems that include administrative overload and complications arising from human error, non-compliance, and late payments. Using Tipalti, you will be able to automate any business’ payment operations which could range from tasks like tax compliance to onboarding.

Features

  • Automated payment
  • Payment facilitation
  • Tax compliance 
  • Advanced Reporting

8. Sage

Sage – Best accounting software

Sage is one of the best and popular accounting and invoicing management software that is designed to cater to small businesses. It is focused on accounting, expense management, and compliance. This software offers graphs, dashboards, and transaction overviews which helps you get a vivid idea of how your business is fairing. It can also generate histories of purchases and sales, and bank statement imports, which can be essential in managing cash flow. 

Features

  • Cloud storage and accessibility
  • Great for small businesses
  • Robust features from a single dashboard
  • Mobile optimization
  • Tax management

9. AvidXchange

AvidXchange – Best accounting software

AvidXchange is designed for B2B companies. It offers features that can help you in managing accounts payable and bills payments. With this software, you can effectively take away paper invoices. It also lets you save time by automating processes. 

Features

  • Made for B2B
  • Electronic invoicing
  • Automatic bills payments
  • Platform security

10. Rossum

Rossum

Rossum is one of the best all-in-one accounting and document management software. This software helps eliminate about 90% of manual processes. It introduces computer vision technology that reads and captures all types of invoices with top-grade speed and accuracy which removes the need for manual invoice data entry. It also has high-grade document filtering and sorting features.

Features

  • Self-learning AI
  • Cognitive data capture
  • Independent communication and decision-making

11. Plooto

Plooto – Best accounting software

Plooto is great at payment processing. This software uses end-to-end AP/AR automation for accountants and bookkeepers to handle all the facets of cash flow. Thanks to its smart approvals,  it ensures that every bill is paid accurately and without delay. With Plooto, you can automatically import invoices from your accounting software and send requests for payment to your clients. It also enables clients to make payments with ease without sharing their bank details in the process.

Features

  • Powerful approval workflows
  • Audit trail and record keeping
  • Automatic account reconciliation
  • Pre-Authorized Debit (PAD) agreement
  • Contact management

12. Bill.com

Bill.com - Best accounting software
Bill.com – Best accounting software

Bill.com simplifies accounting processes and managing records. This software has an AI-enabled system that facilitates the delivery of financial transactions, like approving payments, capturing invoices, and managing cash inflows and outflows. It also lets you connect with your customers, suppliers, and other business partners by focusing on the relationship rather than being pressed down with repetitive processes.

Features

  • Leveraging the power of AI
  •  Simplified payments
  • Seamless business workflows
  • Get paid easily

13. Tradogram

Tradogram - Best accounting software
Tradogram – Best accounting software

Tradogram has an easy-to-use and intuitive interface. This software helps businesses make the best procurement decisions. Plus, it offers powerful features that help businesses cut down on expenses, get higher revenue, and quality supplies. Tradogram is customizable and  and stands as a flexible solution for your procurement needs. Using Tradogram, you can also connect with items in your database and other external data sources for supplies.

Features

  • Connected with suppliers
  • Spend management
  • Automated procedures

14. Yooz

Yooz - Best accounting software
Yooz – Best accounting software

Yooz has an easy-to-use interface. It features some of the best tools ranging from real-time monitoring, and workflow management to purchase order creation and compliance tracking. This software cuts out the need for multiple software solutions and it makes it possible for companies to organise the way they handle their AP processes. 

Features

  • Easily Manages Accounts Payable Processes
  • Powered by AI Deep Learning Tech
  • Fraud protection
  • Powerful Reporting

15. DocuPhase

DocuPhase - Best accounting software
DocuPhase – Best accounting software

DocuPhase does a great job at document management and automation, as well as finance and accounting. It helps to organise accounting procedures through AP automation. Also, it takes away the need for paper. With DocuPhase, you can add more controls on procurement processes. And again, it offers payment automation to help you not forget deadlines.

Features

  • AP automation
  • PO Automation
  • Automated payments
  • Easy audit

16. Zoho Books

Zoho Books
Zoho Books

Zoho Books is focused on managing small businesses’ finances and cash flow. It is easy to use and helps users make intelligent business decisions. This software offers clutter-free accounting, excellent support, uptime, and security as well. With Zoho Books, you can send customers professional invoices and also accept payments online.

Features

  • Automatic bank feeds
  • Customer engagement
  • Automatic payment notifications
  • Invoice distribution and tracking
  • Project management and tracking

17. FreeAgent

FreeAgent - Best accounting software
FreeAgent – Best accounting software

FreeAgent has tons of features to help freelancers and small businesses. This software is packed with tools designed to let you efficiently manage all your important financial tasks and processes, like expenses, estimates and invoices, payrolls, taxes, cash flows, time tracking, bank transactions, and your project’s financial performance.

Features

  • Built for small businesses
  • Intuitive navigation
  • Advanced expense management
  • Expense tracking
  • Facilitated payments

18. Invoiced

Invoiced - Best accounting software
Invoiced – Best accounting software

Invoiced is one of the best at helping companies automate their repetitive accounting tasks. This software has a user-friendly interface and a straightforward dashboard that lets you access menus, controls, and tools for customization. With Invoiced, you can see customer payment history, create invoices, monitor analytic reports such as fastest/slowest to pay clients as well as key AR metrics. Using this software, you can also create billing estimates, present rates with promotions and discounts, as well as set rollover rates and volume-based pricing.

Features

  • Customization and visibility
  • Straightforward dashboard
  • Interconnected modules for seamless collection
  • Secure online traffic

19. Bench Accounting

Bench Accounting - Best accounting software
Bench Accounting – Best accounting software

Bench Accounting is great at offering bookkeeping and accounting services. It also lets you assign professional teams to take care of your number-crunching needs. With Bench Accounting, you will be able to prepare your spreadsheets, invoices, receipts, and other data related to business deals. A team assigned to your account will help you categorize transactions and reconcile statements of accounts from your banks, credit card companies, and also your PayPal account.

Features

  • It is a service and a platform
  • Web-based client app
  • Easy procedure

20. MYOB Essentials

MYOB Essentials - Best accounting software
MYOB Essentials – Best accounting software

MYOB Essentials is great at helping small businesses with their accounting and payroll processes. With this software you can create and send invoices, calculate taxes, manage your expenses, and gain insights into your finances. It has a wide supports for banks and credit cards, which lets you link your bank account for an easy expense tracking process.

Features

  • Data-entry automation
  • Easier online invoicing
  • Hassle-free expense tracking
  • Create insightful reports

Conclusion

All the reviewed software will help you organize your accounting processes accurately. And with so much work on your plate, the right accounting software and tools can help you scale through in minutes. Using one of the best accounting software can help  you streamline your workload in an organized and easy manner.

Frequently Asked Questions

The overall best accounting software is QuickBooks by Intuit.

Many accounting software today are built with a simplified interface to aid ease of use. Some of the easiest accounting software includes Wave, QuickBooks, FreshBooks, and Sage.

The most widely used accounting software are QuickBooks and Sage.

References

  • Businessnewsdaily.com – Best Accounting Software for Small Business in 2022
  • Softwareworld.com – Top 10+ Best Accounting Software of 2022 (Ratings & Reviews)
  • Financesonline.com – 20 Best Accounting Software for Small Business in 2022

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