Accounting software small business helps to keep track of the costs, profits, and losses of the business. They can help to show the big picture of your business finances. Some of the tasks that accounting software small business does include invoicing, receiving payments, expense tracking, and payroll generation.
By equipping your business with the best accounting software small business, you will be in a better position to keep track of your finances. To help you get started with the right accounting software small business, we have done a review of the top options available in the market. These are:
1. WPS Office
WPS Office has been touted as a great accounting software small business and the best replacement for MS. Office as it has almost the same functionality as the latter. With the Spreadsheet feature of this software, small businesses can maintain their books of accounts easily. This feature is available in the free version of the accounting software small business and so small businesses can access it free of charge.
WPS Spreadsheets provides small business owners with free templates that they can use to manage charts, track their budgets, and analyze business finances. The accounting software small business provides great templates for balance sheets, personal budgets, project planning, calendar, and schedule.
Features
Writer
Spreadsheets
PDF
Resume builder
Presentation
Template Store
With the spreadsheet feature of the software, small businesses owners can work with formulae, and pie charts and perform most of the spreadsheet functions. Users can also use the free charts to visualize their data.
Pros
Free to use spreadsheets
Lightweight
Easy to use
Lots of features
Cons
Didn’t find any cons
WPS Office is definitely one top choice for best accounting software small business. You can try out it through this WPS Office free download.
2. Invoiced
With Invoiced accounting software small business, users can enjoy a fully-fledged payment processing and collection platform. Through an intuitive self-service portal, users can perform most of the accounting and management tasks. These include bill payment, checking of account balance, and management of subscriptions.
Businesses can use the invoice and cash function of the accounting software small business to improve their cash flows. All they need to do is to integrate online payment into their billing processes. The accounting software small business allows customers to pay using credit cards, debit cards, and online payments like Paypal.
Features
A/R Management dashboard
Payment plans
Email/invoice view tracking
Customization of email templates
Invoice consolidation
Collection of deposits/prepayments
Statement templates/custom invoice
Customer payment portal
Automatic bank feed
Automated dunning and more
The cloud-based accounting software small business is compactable with different accounting software and this helps to improve its functionality. It integrates well with messaging programs, accounting systems, and payment gateways.
Pros
Makes billing and payment process easy and pain-free
Perfect for managing recurring bills
Great customer service
Lovely and functional dashboard
Cons
Doesn’t accept credit card payments
Onboarding process isn’t easy
Invoiced is a great accounting software small business with a recurring revenue model. It is also suitable for small businesses with a few personnel in their billing department. This is because it enables them to automate those repetitive tasks.
3. Bench
If you need accounting software small business that will help you to streamline your accounting processes and create quality financial statements, you should consider Bench. The accounting software small business has an easy-to-use and intuitive platform. It offers support for the web, Android, and iOS enabling users to view their books from any location. When you sign up for Bench you are assigned a team of three bookkeepers to take care of your bookkeeping needs.
This team will review and handle your financial information. Once you provide the needed books, they will complete your books of accounts in as little as 15 days. The accounting software small business encrypts your data using a 256-bit SSL/TSL encryption and so you can rest assured that all your data is safe.
Features
A Dedicated human bookkeeper
Visual reports
Interactive financial statements
Summary of journal entries
Data sharing
CPA and tax support
Income statement
General ledger
Trial balance
Data encryption
Summary of journal entry
Bench has a messaging feature that allows you to communicate with your bookkeepers at any time or from any location.
Pros
Prompt and responsive customer service
Real bookkeepers to handle your books
Easy to use
Cons
No integration with other accounting apps
Most accounting accounting software small business requires you to do the bookkeeping yourself. However, Bench lifts this burden from you and hands it over to their team.
4. BQE CORE
BQE Core is a part of the accounting software small business that has been created to help professional service firms with project management, expense tracking, accounting, and invoicing. It is a combination of a billing assistant accounting, and project management solution.
The accounting software small business has a wide range of features and allows users to only buy the features they need. The all-in-one suite is a great choice for money and time tacking. It will keep track of the billable hours of an employee.
Features
Time tracking
Invoicing
Custom tracking
Reporting
Payment processing
Integrations
Mobile
Professional service automation
Reporting and automation
The accounting software small business makes it easy to track the number of hours spent on a project. It can therefore show you how productive your staffs are.
Pros
Affordable modular pricing
Great customization options
Good customer service
Vast reporting
Cons
Can be expensive when modular are added
Has a learning curve
With BQE Core, you can measure the different aspects of your business. The accounting software small business also provides you with access to your crucial data from any location.
5. Sage Accounting
If you are searching for a greataccounting software small businesse that can be used by multiple users, you can consider Sage Accounting. The software has an easy-to-use interface and can be configured for multiple users.
The accounting software small business enables small business owners to track their income and expenses in different currencies. They can also use the accounting software small business to manage invoices and track inventory.
Features
Invoice management
Bill payment
Inventory tracking
Business reporting
Project/job management
Fixed asset management
Invoice via email
Insight data
Multi-user license
Customer management center
Sage Accounting is a great software for freelancers and micro businesses that needs to keep their accounts organized.
Pros
Flexible and scalable
User-friendly even for nonprofessionals
Uses great security measures
Integrates with other Sage services
Supports multiple currency
Cons
Doesn’t have a time tracking feature
Limited report customization
Sage Accounting is accounting software small business for small businesses that need the basic accounting features such as bill tracking and invoicing. Businesses that have customers in different countries will love its multicurrency support. However, if you have complex invoicing, you may need to consider WPS Office.
6. Kashflow
Kashflow accounting software small business has been designed to help nonprofessionals handle their accounts and tax documents as it keeps everything simple. The software has a full suite of tools that can help small business owners to handle their accounting tasks. It can also be helpful to those searching for software with a payroll feature.
The basic package of the accounting software small business is meant for small businesses, sole traders, and contractors. It allows them to send an unlimited number of quotes and up to ten invoices. This is on top of 25 bank transactions. The packages of the accounting software small business are scalable meaning you can expand the features when your business needs them.
Features
A view of your finances
Faster payments
Intuitive invoicing
Kashflow payroll
Easy to adopt
All-in-one account
The accounting software small business has a business edition package that is aimed at growing businesses as well as limited companies. This package offers features such as unlimited invoices and quotes. It also allows users to do unlimited bank reconciliations. Users can also submit their VAT online.
Pros
Supports VAT payments
Great payroll option
User-friendly
Cons
Charges for video tutorials
Doesn’t save data to clouds
Kashflow comes with lots of functionalities and features that make it easy for small business owners to handle their accounting needs.
7. Money Manager Ex
With the simplicity of Money Manager Ex, it’s clear why it is one of the best accounting software small business. The free accounting software small business helps to organize users’ accounts and therefore show them where their money is going and when.
The accounting software small business is easy to use and business owners can set up their accounts and transactions fast. It’s easy to input new data. Since it’s a portable app, you don’t have to install it but can simply use it from a USB stick.
Features
Budgeting/cash flow forecasting
Full reports with graphs and pie charts
Import data from CSV file format
Multiple currency support
Asset tracing
The accounting software small business enables users to input the status of income and expenses by categorizing them as per their status. It makes it possible to search, sort, and filter them providing a better view of the bank status.
Pros
Free app
Provides a bird’s eye view of your finances
Cons
Unsuitable for complex accounting
Not rich in features
Money Market Ex is a great choice for providing small businesses that have relatively easy accounting tasks to handle.
8. GnuCash
As free accounting software small business, you can download and install GnuCash to your PC if you don’t mind lots of manual entries. It works well on Windows and IOS devices.
The accounting software small business is open-source meaning that anyone can edit or develop it. This means that Business owners with coding knowledge can customize it to meet their business needs. But on the other hand, those without technical know-how may need professional help to update and maintain it.
Features
Open-source
Double entry
Scheduled transactions
Invoicing
Accounts receivable/ payable
Employee expense
Payroll feature
Graphs and reports
Reconciliation statement
Registers in checkbook styles
Multiple currencies
Here are its pros and cons:
Pros
Lots of flexibility
Has payroll feature
Straightforward
Cons
Suitable for users with coding knowledge
Not cloud-based
No customer service available
GNUCash is great for small businesses. However, if you have no coding knowledge you may want to consider another option such as WPS Office.
9. AdminSoft
AdminSoft is complete accounting software small business that has been designed to provide end-to-end windows solutions. It has a free and paid version. The software will handle most of the accounting needs of a small business such as invoicing, stock control, and even HR functions.
Features
Accounts receivable/payable
Cash management
Bank reconciliation
Billing and invoicing
Inventory management
Purchase orders
Partial payments
Fixed asset management
Overpayment processing
HR capabilities
Since it’s a UK-based program the default setting of the currency is in sterling pounds. However, it works well with other currencies too.
Pros
Completely free
Can be used for payroll processing
Cons
Free version has lots of ads
Manual data backup
Adminsoft is suitable for small businesses searching for an accounting solution that can also handle several other administration tasks.
10. Certify
If you need business accounting software small business to help you track your expenses instead of full accounts, you can consider Certify. This can be a good choice for small businesses with several employees who may not submit expenses properly.
The accounting software small business can simplify the way users handle expenses regarding work-related trips. It can do expense management such as capturing travel expenses, reporting, and analysis. The software also has can help with reimbursement analysis.
Features
Approval routing control
Reports and analytics
Automated Clearing House(ACH) reimbursement
Live admin support
Integration with human resource management software
Live admin support
Custom categories
Multiple user roles
Supports over 140 currencies
Cloud storage for receipts
Here are its pros and cons:
Pros
Easy to use
OCR receipt scanning is great
Affordable
Excellent mobile app
Cons
Additional costs for reimbursement feature
Certify handles all integrations apart from Quickbooks
Certify is a very dependable platform for expense management as it simply the way users handle expenses.
Getting Started with WPS Office
These are the top 10 accounting software for small businesses. The accounting software small business can handle a wide range of tasks such as invoicing, bank reconciliation, and payroll management.
If you are wondering which is the best, we recommend WPS Office. Its spreadsheet feature is free and comes with many features and functions. You can get started with the software for free by downloading it here.
