Top 7 Best Accounting Software For Small Businesses in 2020


When you talk about the best accounting software, there are two important factors that you cannot neglect, i.e. the price and usage.

There are several free personal finance software available out of which some are free, and the others are not. You should prefer to use that software which is both free and easy to use. The software that you choose should have many time-saving features like invoicing, reconciliations, bill payment, financial and expense report, automated entries, etc.

One of the qualities of the best accounting software for medium sized business is that it should be able to perform the advanced tasks like data syncing, default financial reports, etc.

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Best Accounting Software For Small Businesses

You can check out the list of top accounting software that you can use in your small as well as in medium scale business:

1. Freshbooks

Freshbooks comes at the top in the list of accounting software that is the best for small businesses. It is ideal for the small business owners as well as the freelancers. Because of its well-balanced features, this software got two awards, i.e. “the Supreme Software Award for 2016” and “the Best Accounting Software Award for 2016”.

The scale depth of Freshbooks is one of its major strengths. It has various integrated features including time tracking, management of expenses, cloud invoicing, etc. It has a reliable Application Program Interface. The mobile app of Freshbooks is also very responsive and is accessible to both Android and iPhone.

2. Sage

Sage is one of the best personal accounting software that offers both the desktop accounting programs and the online accounting programs. It enables its users to analyze, manage and process the budgets, invoices, payroll and stock.

There are eight different accounting packages that this software offers. The names of the packages are Sage 200 Standard Online, 50 Accounts Plus, 50 Accounts Essential, One Accounting, accounting packages, 50 Accounts Professional, 50 Accounts, Sage Live and One Start. Sage One Accounting, 50 Accounts and 50 Accounts Essential, are exclusively for the small business owners.

3. Quickbooks

Quickbooks is a famous small business accounting software. It is very auspicious for freelancers, mom-and-pop shops and other consultants. It has the simplest tools and interfaces. You have to complete the forms and then Quickbooks does the tasks of accounting.

It is very user-friendly and instinctive that more than a million accountants are using this software. Different features of Quickbooks include making the profit loss statement, cash flow statement, balance sheet, budgeting and management of inventory.

4. GoDaddy Bookkeeping

GoDaddy is one of the most efficient accounting software. The users find it the best for its web hosting services. GoDaddy Bookkeeping is an expansion of GoDaddy. The users of GoDaddy have the ability of linking their accounts to the famous wed-sites of ecommerce like Amazon and E-bay.

Additionally, GoDaddy lets the users to set the recurring invoices for inventory, create the profiles of the clients and manage more than one account at a time with PayPal. The users also enjoy a clean compiling of the dashboard of all their invoicing, profit and loss, and their estimated expenses.

5. Zoho Books

Zoho Books is another best online accounting software for small businesses. It has the most extensive accounting tools that are ideal for micro businesses. It has more customizable templates as compared to Freshbooks. Automatic bank feeds, collaboration with customers over the web, automatic notifications for payments, tracking of invoice, tracking of time, Application Program Interface, management of inventory, automated workflows, etc. are the key features of Zoho Books.

6. KashFlow

KashFlow also comes in the list of the best free accounting software. It specializes in handling the automated accounts for small-scaled businesses. Initially, the developer launched KashFlow as an alternative to the bequest finance software from Quickbooks and Sage.

This software supports different features like automated invoicing, banking, purchases, full reports, suppliers’ and customers’ information, payroll, and quotes and estimates. There are various templates that KashFlow offers for the ease of users. There are pre-written reminders for payment and customizable invoicing that make it easier for the users to carry out their tasks related to accounting.

7. Wave Accounting

Wave is another best small business accounting software. It is also ideal for freelancers and small business owners who have a staff of nine people or fewer. Wave helps the accountants to handle the daily financial reporting and other office processes easily.

The users can easily make the balance sheets, receipts and the reports for profit and loss. It also helps in managing the payroll as well as direct deposit. Wave is a simple accounting software and you have to move on to some other software in order to carry out more advanced tasks.