Top Bookkeeping Tools for Small Business

You know you need some help crunching the numbers—so what are the best bookkeeping tools for small business? We’ve pulled together a few of the best bookkeeping and accounting software for small businesses so that you can make a choice with confidence. Plus, once you tackle this, you can move onto more fun business tasks like “what should I stock the office fridge with?” (La Croix is a big hit in my office!)

Let’s get down to business…small business. You could be here for a couple of different reasons. Maybe your business needs accounting support, but you don’t have the overhead to hire a full-time accountant. Don’t worry, there are some very easy to use accounting solutions that don’t require a master’s degree in business or finance. In fact, there are a few tools that will automate a lot of your bookkeeping processes for you. It’s like hiring an employee that you don’t have to pay.

You could be here because you actually are the paid accountant or consultant for a small business, but you’re not sure which tool to recommend to a company of this size. If you do accounting or consulting for multiple companies, you already know that no two businesses are the same. Especially across industries, bookkeeping needs can vary greatly. The good news for you is that there are software options with a wide range of customization, so you will only pay for the features you need.

The bottom line is this: you want accounting tools that will help your business finances, not hurt them. You need something affordable, functional, and designed to help manage small businesses. Take a look at these bookkeeping and accounting software programs for small businesses, and keep track of which features suit your needs.

Small businesses that rely heavily on invoices will want to look at FreshBooks as an accounting solution. When taking a look at accounting software for small businesses, FreshBooks offers the most customization options for invoices. Business owners who are regularly invoicing contractors are able to pay print, receive, and send invoices all through FreshBooks.

And while FreshBooks is mostly known for its ability to send invoices, it also offers a good selection of other easy to use accounting tools. Like QuickBooks, FreshBooks is cloud-based. You’re able to use FreshBooks on mobile or web. It also boasts free and easy integration with apps like Shopify, Gusto, and the Google Suite. And as you might expect from a cloud-based app, FreshBooks has a nice user-friendly interface.

One of FreshBooks’ biggest perks for small business owners is its pricing model. FreshBooks uses a subscription pricing model that starts at just $15 per month for its Lite plan. They also offer a 10% discount for small business owners that choose to pay yearly instead of monthly, and a 60% discount on the first 6 months to get you started.

Okay, well it’s not free, but it’s pretty darn cheap for a solid small to medium business bookkeeping software. Pabbly starts at just $9 a month and does a lot of the heavy lifting for you.

So what exactly do you get for $9 a month? Pabbly shows you metrics that will help you manage your financial plans and projections. With Pabbly, you can easily see your active customers and new subscribers in one place. You can also track important accounting metrics like monthly payments and net revenue.

Pabbly also automates certain business actions for you. This accounting and bookkeeping software will free up your time to focus on other aspects of your business. Pabbly will automate your workflows (which, trust me, can take a lot of fraught bookkeeping hours if done manually). Pabbly can also automate your customer communication and invoices.

Sometimes, a company’s base price is deceiving, and you’ll actually owe a lot more than what you’re quoted. Pabbly’s $9 per month is straightforward. They don’t charge an additional transaction fee, they won’t force you to increase your subscription if your revenue increases, and they offer a ton of free third-party integration options.

Whether you’re a tiny and mighty business or a steadily growing mid-sized business, there’s a bookkeeping software solution out there for you. There are a ton of free and reasonably priced software options for your business. It’s important to assess your individual needs and select the software that will allow you to manage your bookkeeping and grow your business.

QuickBooks has quite a bit of name-recognition in the business world, and for good reason. They’ve been around for a while, and they’ve certainly adapted to the times. That itself might be desirable to you. You have a company that’s growing and changing, why not use tools that will grow and change alongside you.

QuickBooks Online is used by small businesses around the nation, which means there’s plenty of activity in the user forums and training resources. If you’re brand new to bookkeeping and accounting tools, this comprehensive knowledge database could be a huge perk for you. Another big perk of QuickBooks Online is that it’s all cloud-based. You can access it through a web browser or a mobile app, which is great for small business owners that are regularly traveling.

QuickBooks gives you a 30 day free trial of their Simple, Essentials, Plus or Advanced subscription. Each level has a different base price, starting at $25 per month for the Simple plan. QuickBooks often offers more specialized pricing on their accounting software to small businesses, so it’s worth actually getting someone on the phone if you’re interested.

On top of its user-friendly nature, its large knowledge database, and its scalability, QuickBooks also integrates well with other apps. For instance, small businesses that use Stripe or Paypal for credit card purchases are easily able to integrate that purchase data into their quickbooks accounting software. Plans above the basic level offer more features, such as time tracking, inventory management, and budgeting support. Again, it’s worth getting a QuickBooks representative on the phone to help you customize your accounting software plan at the right price.

First things first, Wave is free. Did you hear that? Free. It’s free. Yeah, I know.

Wave is ranked as one of the best free bookkeeping software solutions for a frugal business owner. Why? Well, besides not breaking your bank account, this free software offers businesses an unlimited number of users, no transaction or billing limits, and the ability to run multiple businesses with one account.

Wave covers all the basics. You’ll get free receipt scanning and invoicing for your business (although with admittedly far less invoice customization than FreshBooks). This software also covers your expense tracking and financial reporting. Wave is a mobile and web friendly software option. And did we mention…it’s free?

But, of course, a free software this high quality comes with a couple downsides. And honestly, they might not be deal breakers for a savvy business owner, but it’s worth knowing. Wave charges 2.9% plus 30 cents per transaction for most major credit cards, and 3.4% on MasterCard transactions. Wave also has limited third party app integrations and no inventory management options.

If you’re looking for an all-in-one bookkeeping and payroll software option, Wave is no longer free. Wave offers this bookkeeping/payroll software hybrid for a base price of $20 per month and $6 per employee. And honestly, that’s not too bad, considering the bookkeeping side is still free.

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