Accounting and bookkeeping software tools are vital to any business. Many business owners have realized that maintaining accounts manually is a hectic job and would not help them achieve the expected results. Accounting software will enable you to manage your business’s transactions digitally. These software’s are designed to be more than just simple digital bookkeeping, few of these even act as inventory, invoicing, and accounting software applications. In this article, we have listed some of the best accounting software and invoice generators that will help you manage your finances easily.
5 Best Accounting Software
Checkout the 5 best accounting software to help balance your book:
1. FreshBooks
| Pros | Cons |
| It has Double-entry accounting | Minimal setup help |
| Provides Inventory tracking | It has Limited invoice customization |
| Detailed client records | Does not provide quarterly tax estimates |
| Team collaboration and time tracking tools |
FreshBooks is one of the top accounting software available. It has the best accounting and bookkeeping software tools. This cloud-based online accounting software is specifically designed for small-scale business owners. This software provides plenty of features to its users like invoicing, expense and time tracker, and more. You can bill in any currency, and set up recurring invoices to save your time. Moreover, this app also allows you to pay via credit card by checking a box and automatically bill their credit card.
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FreshBooks’ system integrates with many services like PayPal, MailChimp, Basecamp, WordPress, Zendesk, and more. Even after having all these features, this app is simple and easy to use. Management hassles are less and can be accessed from desktop, iOS, and Android devices.
2. Zoho Books
| Pros | Cons |
| Excellent user interface and mobile apps | Has a limited pool of accountant partners |
| Superior depth in records and transaction forms | Time tracking is not tied to projects |
| Has multiple payment methods | |
| Good support options and document management |
Zoho Books is one of the best accounting software and invoice generators on the web. This accounting software has advanced tools such as project building and time tracking, making it perfect for microbusinesses. You can also integrate the software as your business grows. Zoho Books supports multiple platforms like Apple, Android, and Windows OS. Through this software business owners can easily send invoices and manage their books on the go. This means, you can finish a job, bill a client easily instead of waiting to go back to the office. In addition to this, you can accept payments in invoices just by linking your payment processor with Zoho books.
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This online accounting software has a modern and sleek interface and is easy to use. If you want, you can even speed up the process by making use of the automation feature.
3. ZarMoney
| Pros | Cons |
| Good value | Not suitable for tax filing |
| Easy to master | Occasionally counter-intuitive |
| Impressive support | No dedicated app |
ZarMoney is the best inventory, invoicing, and accounting software. It has simple pricing plans for entrepreneurs, small business owners, and enterprises. It is cloud-based accounting software for all types of business. This application includes many accounting features like invoicing, inventory tracking, quotes, estimates, statements, etc., at an affordable rate. Through ZarMoney’s accounts receivable solutions, you can manage the status of estimates and sales. You can even accept online credit card payments, and provide different payment terms and early payment discounts. Even after having so many features, this application is easy to use and understand.
4. Xero
| Pros | Cons |
| Good dashboard and improved setup process | It lacks phone and chats help |
| Project tracking, smart lists, interactive quotes | It doesn’t have labelled icons for new invoices |
| Excellent online support | It has no reordered level in the inventory |
| Integrates with gusto (payroll) | Separate mobile app to handle expenses |
Xero has gained popularity because of its low-cost early plan account. This online accounting software offers smart expense tracking and management. It has an excellent app for Android and iOS. This accounting software has many configurable reports, easy and simple budgeting, and no limits on additional users or accountants. This app offers plenty of features to small business owners like “convert your QuickBooks files”.
Xero accounting software is easy to use. However, it has limitations like the maximum number of invoices that can be sent is five and the maximum bill entering allowed is five. If you want you can upgrade the plan to the Xero Growing plan which will allow access to unlimited invoices. You can even enter as many bills as you like. Although, to do so you will have to pay a fee.
5. Wave
| Pros | Cons |
| Instant Payouts and multi-currency support | Payroll features could be improved as it is not as capable as other solutions |
| Good user interface and navigation tools | Can’t offer discounts |
| Detailed client very good invoice and transaction management | Simple record templates and has no comprehensive mobile app |
| A smart selection of features and free software |
The Wave is one of the best and free accounting and bookkeeping software tools available in the market. With this app, you can send invoices, run reports and integrate with popular business apps entirely for free. You don’t have to pay for anything unless you want to select optional add-ons. There are limits on the number of transactions, invoices that can be sent, and users who can access your wave account. In addition to this if you want to accept invoice payments then you will have to pay a small amount fee. This company even provides additional payroll and bookkeeping services that you can access for free.
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Final Words
If you are looking for online accounting software that saves your time, then this one’s for you. It has programs that automate many features of accounting, thus saving your time. Through its cloud-based program, you can create and schedule recurring invoices and payments. You can also set up automatic payment reminders and syncing your bank, credit card, and PayPal accounts.
Wave‘s reporting capabilities are outstanding and allow you to run dozens of reports on everything. This software integrates with Etsy, PayPal, Shoeboxed, and Zapier, and hence gives you access to many third-party applications. This accounting software is easy to use and offers many features that are normally included on the best-paid accounting software programs at a similar level of quality.
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