From invoicing to expense tracking, accounting apps and software can help you take the stress out of bookkeeping and help you manage your finances with ease as a solopreneur or with your small team.

Take this, for instance: you’ve just started your small business, and everything is going well. 

You’ve got clients, a steady flow of income, and maybe a few employees to help out.

But one thing, in particular, is causing you stress – accounting. 

The thought of poring over spreadsheets and crunching numbers makes your head spin, and you can’t help but wonder if there’s a better way to handle this.

Well, here’s the good news!

There are accounting apps and software that can take the pain out of accounting and help you focus on what you do best. I mean running your business.

In this post, I will share with you the ten best accounting apps and software for small businesses that can help you manage your finances like a pro.

You can think of it as your superhero squad, where each app and software has a unique power to help you save time and grow your business through practical accounting.

So, bid farewell to those long, boring nights spent dealing with raw numbers, and say hello to the freedom of organizing your finances with just a few clicks.

Whether you’re a freelancer, startup, or established company, these accounting tools are guaranteed to simplify your financial management and make your life much easier.

Now, let’s dive in and explore the top 10 accounting apps and software for small businesses.

10 Best Accounting Apps and Software for Small Businesses

1. Xero

Xero is a cloud-based accounting solution that simplifies the bookkeeping process.

With features like invoicing, bill entry, and bank transaction reconciliation, you can easily manage your finances from one central location.

It also has a nifty tool called Hubdoc that lets you capture and store bills and receipts, ensuring you never lose track of essential documents again.

With the business snapshot feature, you can get a quick and easy overview of your cash flow for short-term management.

The software also offers optional add-ons such as project tracking and advanced analytics and reporting capabilities to cater to your needs.

Plus, it streamlines your accounting information through its cloud-based platform, giving you access to your financial information anywhere, anytime.

2. Zohobooks 

Zohobooks is a comprehensive accounting software with features like invoicing, expense tracking, and online payments all in one place. 

You can easily collaborate and communicate with stakeholders with the customer and vendor portals.

This accounting solution also offers tools to help manage inventory, purchase orders, and sales orders, ensuring timely fulfillment of your orders and accurate tracking of stock levels.

With its banking feature, you can reconcile your bank accounts and get a clear overview of your cash flow.

The app also allows you to automate your accounting processes, streamlining your financial operations and saving time. 

In addition to its detailed reporting and analytics, you can gain valuable insights into your business performance and make informed decisions.

3. Quickbooks

Another tool that has revolutionized the way small businesses handle their accounting needs is QuickBooks. 

With its user-friendly interface and robust features, it’s no wonder that QuickBooks has become a go-to solution for many entrepreneurs.

One of QuickBooks’ main features is in cash flow management. By tracking your cash inflows and outflows, you can better understand your financial health.

With the ability to access your financial data from anywhere, anytime, QuickBooks’ cloud accounting makes it easy to stay on top of your finances in real-time.

Another feature that sets QuickBooks apart is its direct deposit and employee timesheets, which also allow you to track your expenses and receipts and seamlessly manage your online sales and inventory.

These features make Quickbooks a powerful tool that can help your small business thrive. 

4. Neat

Another game changer in our list of 10 best accounting apps and software for small businesses is the Neat accounting software, which emphasizes helping you organize your business data.

With its mobile access feature, you can capture receipts, invoices, and other essential documents with a snap of your phone’s camera, and that’s not all.

Neat also possesses data extraction capabilities; it can quickly sift through your documents and extract essential information such as dates, vendors, and amounts, converting them into usable data. 

This means no more manual data entry, no more headaches, and no more wasted time.

You can also make the most out of its data verification feature, which cross-checks your data against bank and credit card statements, ensuring accuracy and eliminating costly mistakes.

Its expense tracking and reporting features are the icing on the cake. 

5. Tipalti

Tipalti is a payment automation platform that has reshaped how many businesses process payments.

Its impressive range of features is designed to simplify and streamline the payment process, making it easier for businesses to focus on their core activities. 

From Supplier Management and Payment Reconciliation to Tax and VAT Compliance, Tipalti has it all!

Its supplier management feature allows businesses to onboard and manage suppliers effortlessly. 

Its invoice management and PO matching features can help automate the invoice approval process, eliminating errors and enabling businesses to make payments faster.

6. Wave

Wave Accounting Software is a breath of fresh air in a world where every penny counts. 

With no limits on expense tracking and its free-to-use platform, it’s the perfect solution for small business owners and entrepreneurs looking for a powerful yet cost-effective accounting tool.

With its dashboard feature, wave lets you boost your profitability by quickly analyzing client billing rates. 

Thanks to its unlimited partner and collaborator add-ons, you can work with your team and financial professionals to share critical data and streamline your accounting processes.

To help you stay on top of your finances, Wave Accounting Software also provides helpful reports such as Overdue Invoices & Bills and Profit & Loss, giving you a clear understanding of your financial position and overall an edge in growing your business.

7. Freshbooks

FreshBooks offers a variety of features to help you keep your accounting records in order and get the insights you need to make informed financial decisions. 

Starting from its balance sheet feature, you can get a quick snapshot of your financial position, so you can see how your business is doing at a glance. 

The general ledger feature lets you track all your financial transactions in one place, including revenue, expenses, assets, and liabilities. 

With the cost of goods sold feature, you can clearly see your gross profit margins and determine your business’s profitability.

It also comes with accounts payable feature that helps you manage outstanding bills and avoid late payment fees, and the chart of accounts ensures all your financial transactions are organized and easy to find. 

These and many other packed features of FreshBooks could change the game for you and even make you wonder how you ever managed without it!

8. AccountEdge Pro

AccountEdge Pro, one of our ten best accounting apps and software for small businesses, comes with an impressive range of features to aid in managing your finances.

Its customizable Chart of Accounts allows you to organize and categorize your financial transactions for effortless tracking and reporting, and the Company Data auditor is included within the app to add an extra layer of security and accuracy to your financial records. 

It also has a recurring transactions feature that allows you to set up and automate regular transactions. 

These features combined can be game-changers for businesses looking to streamline their financial management process and focus on what matters more.

9. TrullySmall by Kashoo

Designed for small businesses, TrullySmall comes with many essential features for managing your finances.

It has an automatic posting functionality, which saves time and reduces errors by automatically applying rules for financial transactions.

Invoicing is also made easy with Trullysmall, allowing you to customize invoices with branding and payment terms, track payment statuses, and send reminders automatically.

When it comes to reporting, Trullysmall offers a range of customizable reports for analyzing financial data and gaining valuable insights into your business operations. 

Additionally, Trullysmall’s digital payments feature makes accepting payments from customers online easy. 

With its multi-currency capabilities, the software can convert currencies and handle exchange rates, simplifying financial management across borders.

10. Sage 50Cloud

Sage accounting software also has many features that could alter how you handle your accounting data. 

Beginning with its invoice and bill tracking system that allows you to create, send, and track invoices and bills easily. 

With its purchase order and approval system, this tool eliminates unauthorized purchases. 

It ensures that businesses only buy what they need and can easily track and manage their expenses to stay within budget.

Bank reconciliation can be a tedious and time-consuming task.

Still, with Sage 50cloud’s automated bank reconciliation feature, you can reconcile your bank accounts quickly and accurately, saving time and reducing the likelihood of errors.

Sage 50cloud also offers insights, inventory tracking, and fraud protection, making it a comprehensive accounting software with everything you need to manage your finances effectively.

Final Thoughts

In a world where time is money, small business owners can’t afford to waste either on managing their finances. 

Fortunately, with the help of the 10 Best Accounting Apps and Software for Small Businesses, you can streamline your tasks and take advantage of a wide range of features that will save you time and money whether you’re a solopreneur or have a small team.

So don’t wait any longer. 

Find the perfect solution your business needs and take advantage of these game-changing tools to help you grow and succeed.