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accounting software for small businesses

6 Great Accounting Software Programs for Small Businesses

Small business accounting software can make a world of difference for the do-it-yourself small business owner. Accounts payable, billing, payroll … managing each of these tasks isn’t a walk in the park to begin with. But putting it all together without any help can be both difficult and time-consuming.

And most small business owner aren’t really flush with time.

Accounting software, then, can be one of the most useful tools in any small business’s arsenal. Because automating a variety of accounting functions will not only spare you countless hours down the road – it will improve your datakeeping accuracy, which ultimately could prevent headaches such as being unexpectedly short on cash or suddenly facing an IRS audit.

The accounting software industry is mature enough at this point that you have several great options to choose from. What’s important to understand is that the right software for one small business owner won’t necessarily be the right software for the next. Everything depends on what options you need, and how much you’re willing to spend.

With that in mind, here are some of the best accounting software programs for small business owners:

6 Accounting Software Programs Your Small Business Should Check Out

Wave: Small businesses that are just getting started out, and/or are extremely limited in scale (no employees, maybe a few contractors), might get the most bang for their buck with Wave, which is one of the few services to offer a free, non-trial version. That free version, of course, is limited, but it does offer basic accounting, invoice and receipt services at no cost. From there, you can add on additional services – payroll, transactions and more – for a variety of monthly or per-use fees.

GoDaddy Bookkeeping: Another option for small businesses looking to keep costs low is GoDaddy Bookkeeping. The most basic version, at $4.99 per month, allows you to accept mobile payments, manage invoices and estimates, track mileage and create business reports. More advanced plans allow you to import sales data from the likes of PayPal, Etsy and Amazon, automatically import bank and credit card transactions, and more.

Quickbooks (Intuit): Quickbooks is likely the best-known name in accounting software, and businesses right now can get started at just $12 per month. Literally called “Simple Start,” Quickbooks’ entry-level option allows you to track income and expenses, invoice and accept payments, run basic reports, track miles and send estimates, among other features. Like most other products, Quickbooks has higher-end offerings for more complex tasks and larger businesses.

Zoho Books: Zoho, which is known for its exceptional ease of use, offers an entry-level plan at $9 per month that includes expense tracking, projects and timesheets, custom invoices, budgeting and recurring transactions. The basic plan is limited to 50 business customers and vendors, and you can only have two users (one user plus one accountant) attached to the plan, so you’ll definitely need to upgrade your program if you need to bring more users onboard or account for more vendors.

FreshBooks: FreshBooks offers products for a wide range of business sizes. The entry-level plan, at just $6 per month, allows you to make unlimited invoices and expense entries, accept credit card payments and ACH transfers online, do time tracking, make estimates and more. As you scale up, you can add features such as unlimited proposals, double entry accounting reports, client retainers, and eventually customized training for your team as well as a personal account manager.

Sage 50cloud: Sage’s accounting software is for businesses with a little more money to throw around. You can’t jump into Sage 50cloud for any cheaper than $50.58 per month at the moment, but that price gets you a host of features. You get the basics such as expense management and invoicing, but also instant bill pay, secure remote access for all employees and accountants, inventory management and even integration with Microsoft 365.

If you’re looking to go from manually tackling your accounting needs as you transition to a more digital operation, that’s great! We do paperless office consulting and can show you even more ways to modernize your operations.

If you’re looking to take your accounting to the next level, however, you might want to skip the DIY option and go straight to the pros. Not only can we tailor our accounting services to your exact specifications, but we can even help train your staff when you grow big enough to warrant building your own accounting team.

McManamon & Co. can take all the stress and guesswork out of accounting with our custom services. Give us a call at 440.892.9088 or contact us online today to see how we can support your small business.

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