8 Best Professional Accounting Software in 2023
If you’re a small business owner, you need accounting software that will help you keep track of your finances. But finding the right one can be daunting.
Luckily, there are plenty of options out there. Our list includes some of the best professional Accounting software in 2023. Whether you’re looking for a cloud-based solution or something that can be used offline, there’s something for everyone.
FreshBooks is an easy-to-use, centralized accounting solution for freelancers, sole proprietors, and small businesses. It includes features like project time tracking, invoicing, payment collection, and more.
Its dashboard displays a high-level overview of your business. This includes charts that show outstanding revenue, total profit, revenue streams, spending, and unbilled time.
The dashboard also shows how long it took to complete a task. This can help you gauge whether or not you’re on track to meet your goals.
Users can use the invoice feature to create a bill and accept payments online via 25 currencies from 202 countries. They can also issue partial and full refunds.
In addition, FreshBooks offers a free trial period for new customers. During that time, they can test out all the features and see if it meets their needs.
FreshBooks has four pricing packages based on the level of functionality you need. These include Lite, Plus, Premium, and Select. Each plan comes with a 30-day free trial.
Xero is a cloud-based accounting software that provides a clear financial overview of your business. Its user-friendly interface makes it easy to use, and it offers a unique dashboard display that graphically displays key performance measures.
It also integrates with more than 1,000 third-party business apps, among the most of any accounting software package we reviewed. This feature set makes Xero an excellent option for growing businesses, since it easily accommodates the changing needs of companies as they grow.
Customers can send invoices to clients and receive payments instantly, which helps improve cash flow. It also allows you to set up payment reminders and track the status of customer invoices.
Xero’s pricing plans aren’t based on users, so you can add employees without worrying about your monthly bill going up. It also offers unlimited users, which is perfect for growing businesses that want to scale up and get the most out of their accounting software.
It’s also worth noting that Xero offers free online support, which is great. However, it’s also important to note that if you’re not satisfied with your customer service experience with Xero, it may be time to consider a new provider.
3. Sage Business Cloud Accounting
Sage Business Cloud Accounting is a cloud-based accounting solution that helps users manage their accounting data, invoices, and cash flow. It also offers expense management, compliance management, project accounting, and a wide range of reports.
It includes a 30-day free trial, and pricing plans start at $10 per month for sole traders. Those who have multiple employees can purchase an enterprise version, which offers bill payment and real-time reporting options for additional fees.
The software also features an intuitive interface that’s clean and uncluttered, allowing users to easily navigate through its features. Its Getting Started summary screen guides users through the setup process and allows them to customize their invoice settings.
Once they’re set up, users can create product and service-based invoices. Adding details like prices, descriptions, and categories are simple.
Bank synchronization is another useful feature that automatically brings in transactions from the user’s financial accounts. This saves time and helps streamline the reconciliation process.
Sage also offers customer support, including phone support and a customer service email address. They also have social media channels for those looking to get in touch.
4. Intuit QuickBooks
Intuit QuickBooks is one of the most popular accounting software packages on the market. It’s a comprehensive solution with a variety of features, including payroll and tax filing, inventory tracking, and sales reporting.
It offers on-premise and cloud-based versions, and has a variety of pricing options. The cloud version, called QuickBooks Online, costs a monthly subscription fee and is accessible through a Web browser.
On-premise, or desktop, versions of the software are available in a number of editions: Self-Employed, Simple Start, Plus, and Advanced. Each plan includes features such as invoices and estimates, accounting reports, and user roles.
The company also offers a specialized package for accountants, QuickBooks Accountant. This is designed to simplify workflow and communication between accountants and multiple clients, while still offering core QuickBooks functionality for registering financial transactions and generating various types of reports.
Intuit QuickBooks also offers an on-premise version of the software, called QuickBooks Desktop. This product has a number of industry-specific editions, including contractor, manufacturing and wholesale, nonprofit, professional services, and retail. The desktop software is priced differently than its online counterpart, and it also offers more advanced features such as data backups, upgrades, and support.
5. Zoho Books
Zoho Books is an affordable, cloud-based accounting software that automates business workflows and has strong invoicing capabilities. It also has a capable mobile app, which is ideal for small businesses that need to keep track of their finances on the go.
The free plan is great for microbusinesses, but you can upgrade to one of the paid plans if you need more functionality. The Professional plan costs $40 per month and adds a wide range of features, including inventory management, customer and vendor management, estimates, sales orders, invoices, recurring expenses, purchase orders, a client portal, and more.
It also offers 24/5 phone and live chat support in all paid plans. The company has a dedicated user community and an extensive list of help resources, such as FAQs, product videos, and an online knowledge base.
It’s also easy to import bank account transactions using either live bank feeds or manually through CSV or Excel files. The banking module is advanced and offers a variety of visualizations to make bank reconciliation fast and easy.
6. QuickBooks Online
QuickBooks Online is one of the top-rated accounting software platforms available for small businesses. This cloud-based platform has a streamlined interface, great tracking features, and a wide range of integrations.
It also offers bank-level security and automatic data backups to keep your information safe. In addition, it can connect to hundreds of business applications to make data sharing easier.
Intuit’s QuickBooks is a popular choice for small businesses, with over 9400 user reviews from 6 recognized review sites. Its robust feature set and ease of use are what largely drive its positive user satisfaction ratings.
The Plus Plan, the most popular tier, includes all the features of the lower tiers as well as additional business insight and analytics tools. This increases the user limit to 5.
Another important feature is QuickBooks’ inventory tracking system, which can be useful for retailers who have a lot of stock. It allows users to track inventory levels, generate purchase orders, and manage vendors. It can also integrate with popular online retail marketplaces like Amazon, Shopify, and Etsy.
7. Sage Intacct
Sage Intacct is a cloud-based accounting solution that is built for finance professionals. It provides powerful and customizable features that can help you manage your business more effectively.
It also helps you streamline your business processes and get real-time data for making better decisions. Its flexible platform allows you to scale up and grow with your business.
Intacct also offers a wide range of reporting tools that can be customized to suit your needs. You can create dashboards and drill down to see specific information.
The software is compatible with several operating systems, including MacOS X and Windows. Its cloud-based system is secure and accessible from anywhere.
With this software, you can save thousands of hours a year by automating your AP process. You can also configure approvals, workflows and internal controls based on your preferences and company needs.
The software also includes a number of industry-specific modules, which allow you to enhance its functionality as your business grows. It is an excellent choice for growth-minded mid-market and enterprise-level businesses.
8. Sage One
Sage One is a great option for small businesses and freelancers looking to manage their finances. It offers a simple interface that helps users keep up with cash flow, invoicing, and payroll.
It also includes business insights and reports, which are helpful for small businesses to make informed decisions. The software is accessible on any device and allows users to collaborate securely with their accountant.
Creating invoices is easy with the software’s templates and payment options. It also integrates with Stripe, which makes it easier for customers to choose their preferred payment methods.
The customer support is available via phone, email, and chat. It is also backed by a knowledge base, blog articles, and how-to videos.
With Sage One, you can send invoices, track payments, and get paid on time. It also helps you manage expenses, create and send quotes, and calculate VAT online.
This accounting software has a wide range of features and costs $25 per month. It is a good option for small businesses that need an affordable and scalable solution. It is easy to use, and it also offers a 30-day free trial.