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A high-quality small business accounting software can really streamline your levels of business efficiency. Many of them will provide a number of associated payroll and online legal services. Such services are intimately interconnected, especially payroll and accounting.
After all, what business owners are really looking for is to have all of their essential financial and legal documents stored and recorded on a single, secure, easy-access platform. This makes the ‘bureaucracy’ side of things so much easier to manage, without having to worry about it all.
Below, we have outlined the 14 best accounting software services for small business owners in 2021, with a primary emphasis on 5 of the best.
Top 5 Accounting Software Services at a Glance.
#1 – FreshBooks (Free trial!): The best all-around accounting software for the majority of businesses, especially businesses with less than 50 employees.
#2 – Sage Cloud Accounting (Free trial!): Professional and simple fully functional accounting software that is looking for a straightforward solution without any problems.
#3 – Zoho Books (Try now!): An amazing interface with a comprehensive suite that is perfectly suited for freelancers, micro-businesses, and small businesses. Unfortunately, does not provide payroll timekeeping.
#4 – Intuit Quickbooks (Free trial for 30 days): Best suited for medium to large-sized businesses or small businesses that really specialize in accounting and/or finance.
#5 – Patriot Accounting Software (One-month free!): Excellent at both payroll processing and accounting with two distinct applications. Primarily aimed at micro and small businesses.
BASIC SERVICE PACKAGE COST
Smaller businesses, less than 50 employees.
The coolest, most all-around accounting software service on the market.
Small businesses in professional services.
The most simple and straightforward accounting solution with great customer service.
Freelancers and Micro Businesses.
A beautiful user interface and comprehensive suite of tools to perform the exact function that you need.
Large businesses, or businesses with specific or intensive accounting requirements.
Loved by accounting professionals due to its rich feature set and sophisticated capabilities.
Patriot Accounting Software
Small Businesses and Micro Businesses
Superb customer service. Similar to Zoho Books in functionality.
Freshbooks (“FreshBooks Cloud Accounting”) has it all, and it is no surprise that it made our No.1. It is also the number one accountancy software of choice for a majority of online review sites, and with good reason. While it started off as a simple invoicing solution (an area where it still excels), it now provides a massive range of payment processing and accounting functionality.
There are almost too many advantages to write about. To start off, FreshBooks has the most amazing and intuitive design interface, in an industry which tends to have a high-quality design interface. Gone are the days of boring, professional invoices, paychecks, and employment records. The FreshBooks Pricing is ultra-cheap. The plans are as follows:
- The FreshBooks Lite plan costs only $6 a month, allowing the billing of 5 clients.
- The FreshBooks Plus plan costs $10 a month, allowing the billing of 50 clients.
- The FreshBooks Premium plan costs $20 a month, allowing the billing of 500 clients.
Free trials are available on all plans. You can contract FreshBooks for a custom plan if you intend to bill more than 500 clients. The current FreshBooks prices are at a 50% discount for a limited time offer. This is a common marketing tactic. In truth, these sales tend to go on perpetually. Nevertheless, the pricing is still excellent. The Lite Package includes:
- Unlimited + Customized Invoices
- Unlimited Expense Entries
- Accept Credit Card Payments Online
- Accept ACH Bank Transfers Online
- Automated Bank Import
- Unlimited Time Tracking
- Unlimited Estimates
- Insightful Tax Time Reports
- Custom functionality and workflows with 200+ integrations
- Mobile Mileage Tracking
- Team Members ($10/person)
The Plus Package includes everything in the Lite páckage with the addition of Unlimited, proposals, Automated Recurring Invoices, Double Entry Accounting Reports, Scheduled Late Fees, Automated Late Payment Reminders, Client Retainers, Team Members ($10/person), Advanced Payments ($20/mo). The Premium Packages does not seem to contain many additional features.
So, what are the customers saying about the features, pricing, and customer service? It has a 4.46 rating on GetApp out of 3,300 independent reviews. GetApp is a review service designed specifically for technology services.
The TrustPilot reviews are a little more mixed. FreshBooks is cool. There is no doubt about that. It is the easiest software to use, with a massive range of functionality. But there are some drawbacks, and we noticed this with our testing. They tend to focus more on making the software run smoothly rather than essential updates, compatibility, and integration. The software is still not really suited for the European market, being US-focused (which means potential issues in the recording of VAT).
Another issue is that clients need to use a FreshBooks account, where they are enticed to sign up. Not the end of the world, but still an annoyance. The major issue is that the new version of Freshbooks, released in 2017, resulted in a lot of integration problems. This is a common issue with payroll and accountancy software that does an upgrade – there are just too many third-party integrations to account for successfully.
The billing limitations are also a little archaic. It can be irritating having to manually add and delete one-off clients, which still count towards your overall limit. Which seems to be designed so that people will upgrade to the most expensive option so they do not have to worry about it.
All in all, FreshBooks, has excellent functionality, wonderful mobile applications, very affordable pricing, and the best user interface around. It is ideal for small to medium-sized businesses. The software, however, is not really suitable for larger businesses with more than 20 or thirty employees. It excels more on the payroll side of things (timekeeping, invoicing) as compared to the bookkeeping. But sending invoices to clients is just so easy with this vendor.
However, it is still more than capable in terms of accounting – but you still need to be experienced to use it effectively. Or at least know your way around some of the basic accounting terminology.
- Double-entry accounting is now available
- Delightful user experience
- Excellent client records
- Team collaboration tools
- Time tracking
- Estimate and retainer functionality
- Simple product and service records
- Proposals and projects
- Excellent mobile apps
Price: $6 for Lite, $10 For Plus, $20 for Premium.
Why We Recommend
FreshBooks can provide practically all of the essential bookkeeping and payroll needs of any small to medium-sized business, for a fantastic price.
FreshBooks is really more suited towards businesses that have between 5 – 50 employees . Especially useful for creative business models due to its design and customization options..