Running a small business comes with its own set of challenges, and managing finances is often at the top of the list. The right accounting software can streamline bookkeeping, automate invoicing, track expenses, and even help with tax compliance—freeing up valuable time to focus on growing your business. With so many options available, choosing the best accounting software for your small business can be overwhelming. To help you make an informed decision, we’ve compiled a list of the top 10 best accounting software for small businesses in 2024.
1. QuickBooks Online
QuickBooks Online remains one of the most popular accounting solutions for small businesses, and for good reason. It offers a comprehensive suite of features, including invoicing, expense tracking, payroll management, and tax preparation. The cloud-based platform allows you to access your financial data from anywhere, making it ideal for remote teams.
Key Features:
- Automated invoicing and payment reminders
- Integration with over 750 third-party apps
- Real-time financial reporting
- Multi-user access with customizable permissions
QuickBooks Online is scalable, making it suitable for both freelancers and growing businesses. Pricing starts at $30 per month, with a 30-day free trial available.
2. Xero
Xero is another top contender, known for its user-friendly interface and robust accounting capabilities. Designed with small businesses in mind, Xero offers powerful tools for invoicing, bank reconciliation, and inventory management.
Key Features:
- Unlimited users on all plans
- Automated bank feeds and reconciliation
- Customizable invoicing with online payment options
- Advanced inventory tracking
Xero’s pricing starts at $13 per month, making it an affordable option for startups and small businesses.
3. FreshBooks
FreshBooks is a favorite among freelancers and service-based businesses due to its intuitive design and strong invoicing features. It simplifies time tracking, expense management, and client communication, making it a great choice for solopreneurs.
Key Features:
- Automated recurring invoices
- Time tracking and project management tools
- Client portal for easy collaboration
- Expense tracking with receipt scanning
FreshBooks starts at $17 per month, with a 30-day free trial to test its features.
4. Wave
Wave is a free accounting software that’s perfect for small businesses on a tight budget. Despite its $0 price tag, Wave offers a solid set of features, including invoicing, expense tracking, and receipt scanning.
Key Features:
- Free invoicing and accounting tools
- Unlimited income and expense tracking
- Receipt scanning via mobile app
- Payroll and payment processing for an additional fee
While Wave lacks some advanced features, its affordability makes it a great choice for startups and freelancers.
5. Zoho Books
Zoho Books is part of the Zoho suite of business tools, offering seamless integration with other Zoho apps. It’s a great option for small businesses looking for an all-in-one solution with strong automation features.
Key Features:
- Automated workflows and reminders
- Inventory and order management
- Multi-currency support
- Client portal for secure communication
Zoho Books starts at $15 per month, with a 14-day free trial available.
6. Sage 50cloud
Sage 50cloud combines desktop software with cloud connectivity, offering powerful accounting features for small businesses. It’s particularly well-suited for businesses that need advanced inventory and job costing tools.
Key Features:
- Advanced inventory tracking
- Job costing and industry-specific features
- Cloud backup and remote access
- Detailed financial reporting
Sage 50cloud pricing starts at $340 per year, making it a premium option for businesses with complex needs.
7. NetSuite
NetSuite is an enterprise-grade solution that’s also suitable for growing small businesses. It offers robust financial management, CRM, and e-commerce tools in a single platform.
Key Features:
- End-to-end business management
- Real-time financial dashboards
- Advanced revenue recognition
- Customizable reporting
NetSuite requires a custom quote, so it’s best for businesses with larger budgets and complex requirements.
8. Kashoo
Kashoo is a simple yet powerful accounting software designed for small business owners who want an easy-to-use solution. It focuses on core accounting tasks without overwhelming users with unnecessary features.
Key Features:
- Straightforward invoicing and expense tracking
- Bank reconciliation automation
- Multi-currency support
- Mobile app for on-the-go access
Kashoo’s pricing starts at $20 per month, with a free trial available.
9. AccountEdge Pro
AccountEdge Pro is a desktop-based accounting software with strong inventory and payroll features. It’s ideal for small businesses that prefer offline access to their financial data.
Key Features:
- Advanced inventory management
- Built-in payroll processing
- Time billing and job costing
- Cloud sync for remote access
AccountEdge Pro starts at a one-time fee of $149, with additional costs for payroll services.