city

Best Accounting Software for Small Business in 2022

The best small business accounting software out there helps owners of small businesses track their accounts and expenses. They also help entrepreneurs prepare for tax season and keep an eye on their finances. This should all happen very easily and quickly. Small businesses might find it cost-effective to turn to software instead of hiring a big firm to manage such things. Then again, the market has so many options that picking one can be tricky.

Quickbooks

Flexibility, expansibility, and depth mean that Quickbooks is still the best accounting software for small businesses on the market. This option is simple to use and highly reliable. There's also an abundance of online education and help forums you can turn to if you need them. The name should be familiar to you, as Quickbooks has been around for a long time in this industry.

Quickbooks Features

The sheer number of users of Quickbooks highlights its popularity, simplicity, and reliability.

  • Useful for invoicing.
  • Maximize your tax deductions.
  • Track your mileage.

Starting Price

Enjoy Quickbooks for $7.50 per month for three months when you start. After that, it's $15 a month.

Free Trial

There is a 30-day free trial available.

Quickbooks Pros

  • Phone support is available.
  • Access is through a mobile app.
  • Integrate it with your other software.
  • Track your mileage.
  • Comprehensive accounting option.

Quickbooks Cons

  • Pricing goes up double after an introductory period.
  • Lacking e-commerce features.
  • Accidentally creating duplicate transactions is too easy.
  • Payroll costs more each month.

Freshbooks

FreshBooks cloud accounting soft for small business.

Freshbooks makes a case for being the best small business accounting software by virtue of how easy it is to use. If you're a small business owner that knows nothing about accounting, then this option lets you easily and quickly view reports, manage clients and projects, track your expenses, and make and send invoices. Freshbooks has the necessities for the accounting novice that needs basic functionality without any previous knowledge.

Freshbooks Features

If you need to scale up, more complicated options are available at higher price points.

  • Mobile app.
  • Track limitless expenses.
  • Limitless invoicing.

Starting Price

Start Freshbooks at $6 each month for five or fewer clients.

Free trial

There is a 30-day free trial available.

Freshbooks Pros

  • Most plans let you invite your accountant.
  • Apps for Android and iOS.
  • Simple to use.
  • Unlimited plans are available.

Freshbooks Cons

  • Payroll is an add-on but not natively included.
  • Training isn't offered.

Xero

Xero - online accounting software.

Xero makes popular bookkeeping software for small businesses. You can enjoy basic features on the Early plan such as business snapshot, short-term cash flow, receipt, bill capturing, and bank accounts reconciliation. Upgrade to bigger plans as you scale up to add payroll and other features that your bigger business might find itself needing.

Xero Features

The payroll feature is something that can be added to any plan if you want it.

  • Mobile app is available.
  • Bank reconciliation.
  • Invoices and quotes.

Starting Price

Zero starts at $12 a month for the Early plan.

Free Trial

Enjoy a 30-day free trial to test it out.

Xero Pros

  • 24/7 support.
  • Reconcile bank transactions with all plans.
  • Offers various plans for scalability to match business growth.

Xero Cons

  • Payroll costs extra each month.
  • You need the highest-tier plan to deal with multiple currencies.

Netsuite

Oracle NetSuite ERP software for financial management.

Oracle NetSuite is just one part of the broader ERP offering. Your business can use an intuitive cloud-based financial management package to track financial data and automate the most crucial accounting necessities. Use it seamlessly across multiple currencies if you are growing into a global consumer base. If you're looking for big-scale, high-concept, premium solutions, then this is it, but might also be too much for a small business that has yet to grow into this sort of size.

Netsuite Features

Enjoy many necessary features that can integrate well with other software.

  • Reporting.
  • Planning.
  • Billing.

Starting Price

The base price starts at $999 each month.

Free Trial

There is no free trial.

Netsuite Pros

  • Robust, comprehensive solution for a growing international firm.
  • Business data in one single platform.
  • Harmonious operations between systems and departments.

Netsuite Cons

  • Cost-prohibitive for a small business.
  • Functionality could be overkill.

Sage

Sage for micro-business.

Sage is a strong option for micro-businesses needing certain integrations and features on an affordable budget. The Start plan is only $10 a month and has basic features such as tracking monies owed to you, invoice creation, and automatic bank reconciliation.

Sage Features

Essential functions on a shoestring budget make Sage a savvy choice for the smallest of businesses.

  • Automatic bank reconciliation.
  • Track your accounts receivable.
  • Handle invoicing.

Starting Price

Start Sage at just $10 each month.

Free Trial

Try it for free for 30 days.

Sage Pros

  • Support for multiple currencies.
  • Various integrations are available.
  • Automated bank reconciliation.
  • Cloud-based.

Sage Cons

  • Phone support hours are limited.
  • Payroll isn't included.
  • An entry-level plan might be too simple for an established business.

Neat

Neat - popular small business accounting software.

Neat is a popular small business accounting software option given how simple to use it is. You can match receipts on the fly with their associated expenses. Make payments, filter transactions, and customize invoices, all while viewing trends and various insights into your business. You can set things up fast and start automating certain tasks in a streamlined workflow for efficiency.

Neat Features

Enjoy 5-minute setup, guided workflows, and automated accounting reports.

  • Mobile app is available.
  • Invoicing options.
  • Simple to use.

Starting Price

Start Neat for $17 each month with annual billing.

Free Trial

A 15-day free trial is available.

Neat Pros

  • NeatInvoices can be free with a standard processing fee.
  • Link receipts with expenses as you go.
  • Use NeatFiles to manage financial documents.

Neat Cons

  • Payroll is unavailable.
  • Fewer features than competitors.

Zoho Books

Zoho Books - accounting software for a small business.

Zoho Books is the great accounting software for a small business if you love branded apps. It's very comprehensive and will serve basic needs, including sending invoices, reconciling accounts, generating reports, and tracking expenses. Integrations are where Zoho truly shines. Connect bank accounts, e-commerce platforms, payment processors, and more. If you're already using anything else under the Zoho line, then this should mesh seamlessly into your current operations.

Zoho Features

Zoho features let you see your finances in real-time while also doing things such as project accounting.

  • Invoicing.
  • Mobile version.
  • Payroll.

Starting Price

Try it starting at $10 each month.

Free Trial

You can enjoy a free trial of 14 days. There is also a "free forever plan" although revenue restrictions will apply.

Zoho Books Pros

  • Can integrate with other apps under Zoho brand.
  • Program recurring invoices.
  • Manger your 1099 contractors.

Zoho Books Cons

  • The free plan only goes to 1,000 annual invoices.
  • Payroll will cost you more.

Conclusion

The best accounting software for any small business will be affordable, efficient, and simple to use. As an entrepreneur, you're probably far too busy to figure out which ones are best, given how many there are. Lewis CPA list should help you identify possibilities that your small business can use. Don’t hesitate to contact us!

Talk to Us

We are a perfect combo of practical & optimistic.

We Think of Your Taxes Ahead

Wondering if you’re overpaying your taxes? Trying to juggle payroll & bookkeeping? Maybe you’re not sure if your business is profitable. Or maybe you’re looking for more than just the once-a-year conversation with your accountant.

What to Read Next

Tax Filing Tips.

Top 10 Smart Tax Filing Tips for Small Business in 2022 to Make Taxes Less Stressful

Do you know small business tax tips? Knowing how to keep up with taxes for small business owners is some of the best tips you'll ever find. Let's read here!
Small Business Tax Deductions.

Top Small Business Tax Deductions 2022 You Need to Know

You're in business to make money, so keep all of it that you can. This small business tax deductions 2022 guide is here to help you accomplish that.
Income Statement.

How to Prepare an Income Statement in 8 Simple Steps: Full 2022 Guide

Every small business should know how to make an income statement. The preparation of financial statements details the specific income and expenses of a company.