There are endless options when it comes to accounting
software available for businesses of all sizes. Years ago there was only one
option: QuickBooks. Today, there seems to be a new accounting SaaS product
launching each year.
More options means more features being released in an
attempt to gain new users, as well as more competitive pricing. A lot of them
used to give out free trials and then allow free accounts for a few clients.
Most have moved away from this model because they only want paid users so they
can focus on rolling out the best features to remain competitive.
Here are a half-dozen accounting programs to consider for
managing your books, which can be used by any business, from a sports
blog to brick and mortar retail locations and worldwide e-commerce
websites.
Freshbooks
This is one of the original SaaS platforms and it has really
come a long way. They have really rolled out a lot of new options and are more
focused on the small to medium sized business. “Little things like making it
easy to grant access to an accountant or third-party to view and monitor
expenses show how friendly Freshbooks is trying to make it for the SMB owner,”
says Pat Skinner of answerfirst.com.
There is no longer a free plan. They used to have one that
would allow you to manage three clients for free, but they increased costs to
match the new features and it resulted in a better product. Customers should be
willing to pay for a tool that has so many great features.
Due
This is a very easy to use invoicing and billing platform
that also has some extra features not found on other platforms. They have a
digital wallet feature that is ahead of its time and something many more will
surely implement in the future.
They also allow for time tracking, which is great for those
that run a remote business and have to keep track of team members that are not
physically in the office. “Due allows users to register an account for free, so
if you are looking for something with some additional features, give it a try,”
suggests April Gillmore of clickfirstmarketing.com.
“It only takes a minutes to register and take a look under the hood.”
Zoho
The Zoho suite of online tools is extensive and its
invoicing platform is just one of many software applications they offer. This
is a great choice for those that are already using Zoho for other business
needs, as it seamlessly integrates with all of the other tools.
They seem to be more popular overseas, but more and more
US-based companies seem to be giving them a chance. I know they are a very
customer focused company and listen to feedback and suggestions, as they are
always rolling out new feature requests and making improvements. Their software
doesn’t remain unchanged for long, and that is a good sign.
“A product that is always innovating and adjusting with the
market is going to allow you to benefit from their growth,” says Irene
McConnell of Arielle Executive. “It’s
always a good idea to go with SaaS products that allow for easy scaling.”
QuickBooks
“This is the option that has been the most popular over the
years simply because it was the only computer based option,” says Loren Taylor,
whose company Soothing Company uses it to handle tracking and accounting of its
indoor
water fountains. “It has advanced a lot over the years and a lot of older
companies use it still because it’s all they know.”
It still has a dated look and feel compared to other
options, but that is probably done on purpose to keep its core older users to
stick with it. If you are looking for a more modern user experience Freshbooks
is probably the best bet. They are actually in the process of rolling out a
brand new user interface that is super sleek.
NetSuite
Another old school option, as used by P101 Pest Control, this
is what most businesses used if they had to physically track sales and
inventory. Most new e-commerce stores will use multiple different programs to
track inventory, shipping and sales, but NetSuite does it all.
Again, this feels and looks dated compared to other options,
but its users love it. If it isn’t broken, why fix it, right?
It’s a good option for those that already use it and have
their entire operation built around it, because switching over would require a
lot of work not to mention teaching an entire team a brand new software stack.
For new companies, though, I would lean towards one of the newer options rather
than start with this.
Xero
This is a very sleek option for those that want something to
handle basic accounting and invoicing. While it doesn’t have all of the
features that the top (and more expensive) options have, this does just enough
to help your business keep all of its financials in one spot for easy
accounting.
“Not everyone needs all of the features and having access to
too much can be overwhelming to some people,” says Tim Mahoney of Patterns of Evidence. “Xero is very
user friendly, especially to someone with very little experience with online
accounting software.”