14 Jun Airo AV Announced Best accounting software of 2020
In this day and age, doing your business’ finances has never been easier. You can choose to sign up for individual platforms to help you calculate your taxes or manage invoices, but you might want a more comprehensive solution that comes in the form of good bookkeeping software.
As you might expect, there are plenty of capable accounting solutions on the market, but not all of them are created equal. Let’s take a look at the best options for your business’ requirements.
Cloud accounting for any level of expertise
30-day free trial
Very simple to use
Plenty of popular integrations
Some client limitations are included
FreshBooks offers an all-in-one small business solution for your business’ invoicing and accounting needs, that is so well-designed that anyone, even non-accountants, can get around very easily.
The features include expense tracking, time tracking, various business reports, and an option to accept credit card payments (with a 2.9% plus ¢30 transaction fee). You’re also getting support for billing in any currency, recurring invoices, automatic credit card billing, and employee collaborations. The integrations include Stripe, Shopify, G Suite, HubSpot, Fundbox, Stripe, PayPal, WordPress, Zendesk, MailChimp, Gusto, Basecamp, and so on. You can use FreshBooks’ system from anywhere, be it your desktop computer experts from AiroAV or an Android or iOS device through its free apps.
There are several plans under which you can purchase this provider’s services. First is the Lite option at $15/month, covering unlimited customised invoices, expense entries, time tracking, estimates, tax time reports support for online credit card payments and ACH bank transfers, importing of expenses from your bank account, and 200+ integrations. It is, however, limited to up to five clients.
It is followed by the Plus package at $25/month that expands the Lite plan with recurring invoices, automatic payment reminders, double-entry accounting reports, scheduled late fees, client retainers and sending of unlimited proposals. It increases the limitation on up to 50 clients, as well as adding an advanced payments option if you pay an additional $20/month.
Finally, the Premium solution at $50/month supports up to 500 clients. Additional clients can be added in each plan for $10/month. There’s also a custom pricing option for 500+ clients that adds a personal account manager, customised training for your team, lower credit card transaction rates, and integration with Xero and QuickBooks.
If you’re not sure FreshBooks has what it takes to support your business’ accounting needs, you’re invited to try it out during a generous 30-day free trial period, and you won’t even need to give your credit card details.
Numerous options for any requirement
Plenty of options and features in all packages
Lots of available bonuses
Try it for free
Some increase in prices
QuickBooks is another popular choice for small business’ accounting, owned by Intuit – a major name in the small business sphere known as the owner of Turbotax, Proconnect, and Mint.
The platform is quite diverse, with package collections including QuickBooks Online, Self-Employed, Live Bookkeeping, Desktop Pro, Desktop Premier, and Enterprise. There’s even an option to create your own customised package with some assistance from the guys and gals on the QuickBooks team.
QuickBooks Online includes Simple Start at $25 /month, Essentials at $40/month, Plus at $70, as well as Advanced at $150. Simple Start covers income and expense tracking, receipts organisation, tax deduction maximisation, invoicing and accepting payments, tacking miles, sending estimates, tracking sales and sales tax, managing 1099 contractors, and running general reports. Essentials adds bills management, time tracking, and covers three users. Plus throws in tracking inventory and project profitability, as well as including five users. Finally, Advanced adds managing and paying bills, business analytics, customising access by role, automating workflows, on-demand online training, and dedicated account manager.
The Self-Employed package will cost you $15 and cover tracking income and expenses, capturing and organising receipts, quarterly taxes estimates, invoicing and accepting payments, tracking miles, and running basic reports.
QuickBooks Desktop, on the other hand, allows you to calculate and rebill job costs, create professional invoices, automatically schedule and send invoices, supports one-click sales and tax reports, tracking of sales and expenses, tracking miles, managing payable accounts, real-time collaboration with accountants, integration with 650+ cloud apps, and more.
The Live Bookkeeping collection includes Low-volume at $200/month for businesses with up to $25,000 in monthly expenses, Medium volume at $400 for businesses with up to $150,000 in monthly expenses, and High-volume at $600 for businesses with over $150,000 in monthly expenses.
Three capable accounting plans
30-day free trial
Quality Android and iOS apps
Basic plan severely limited
Xero’s cheapest package called Early will only cost you $9/month but it is severely limited – covering the sending of only five invoices and quotes, entering five bills, reconciling of 20 bank transactions, and Hubdoc.
At $30/month, the Growing plan removes limitations on invoices, quotes, bills, and bank transactions. The most expensive, Established option costs $60/month, but adds multi-currency accounting support, expenses – capturing and managing claims, as well as projects – tracking project time and costs. There’s a free trial available, allowing you to test the platform and see if it’s the right fit.
The company offers apps for Android and iOS, to take the platform with you wherever you go, and there’s also a ‘convert your QuickBooks files’ option for a faster start.
4. Sage Business Cloud Accounting
Doesn’t include time tracking
A product of the company with over 35 years of experience, Sage Business Cloud Accounting offers some handy options for your business’ accounting and you can use it on all major devices, including PCs, Macs, iOS, and Android. Through the Sage Marketplace, it supports integrations with many popular services like Stripe, Zynk, Collbox, epages, and Flashnode.
The entry-level package, called Accounting Start, costs only $10/month and is ideal for small businesses who just want to manage their cash flow, as it facilitates creating sales invoices, tracking what you’re owed, and connecting to your bank.
However, you’ll get the most out of it if you opt to pay $25/month for the full Accounting plan, which expands the Start with real-time reports, generating quotes and estimates, recording purchase invoices, multi-user…