September 21, 2014

14 Accounting Software Tools To Make Finances Easy

At this time of year, no one wants to think about taxes, but the clock is already ticking. If by some chance you don’t have an accounting package and are in need of accounting software tools, you’ll want to take a run through a previous post where I compiled 17 accounting tools.  Today, I’m providing 14 more.

This is focused on accounting, but if you have a more specific need around online invoicing, then check out our list of 50 Online Invoicing Apps for Small Business. Many freelancers and solopreneurs have reported these work very well for their needs.

14 Web-based (Mostly) Accounting Software Tools:

NolaPro has an online solution, in addition to its Windows and Linux desktop versions. Web-based plans start at $9.99/month, but the desktop version is free. You can add a payroll module for $35. CNET shows it has over 100,000 downloads and is rated #6 in accounting and billing software. However, the CNET list where they are #6 has a bunch of other types of software on it, so they may be #1 in accounting.

accounting software tools

Connected Core Accounting appears to be Mac-centric, but PC-capable. The website explains that you can have a Mac based business on the front end (let’s say you run a design firm) but cross-platform capabilities so you can talk to your customer service or accounting departments where PC’s rule. Your PC users, including an outside accountant, can use Connected on a Windows computer at the same time as your Mac users, with identical features and information shared. Software starts at $399 and you can download a free trial.

Sage 50: Most business owners have heard of Intuit’s QuickBooks, but Peachtree is equally well known. It is now called Sage 50. This is the package that many businesses choose when they know they are going to scale up and need a full enterprise resource planning solution (ERP). It does accounting, but the core of it revolves around integration of other software, over time usually. The base package starts at $269 for one user. 30-day free trial download.

NOTE: Let me briefly translate that ERP offers the ability to integrate applications across your entire business. That includes all facets of an operation, including: product planning, material purchasing, inventory control, distribution, accounting, marketing, finance and HR, to name some of the major functions.

Sage One is the cloud offering of Sage 50 (more or less) and at $29/mo (after the 30-day free trial), you are running a full featured business management program, including accounting, project management, and collaboration functions. When you consider that the Sage 50 Complete package (1-5 users) is $369, this may be a viable option.

accounting software tools

AccountEdge is accounting for Windows, Mac, and mobile. The basic Mac package is only $99, but the full Mac and Windows versions are $299. The iOS mobile version is free and synchronizes, via DropBox, with the desktop version. They offer free trial versions of each.

Wave Accounting is free. Lots of Web-based accounting providers offer a free trial or a light free version, but Wave is totally free. No limits. They do this with an ad-supported model they call Business Savings. Inside Wave, you’ll see “savings offers” from companies like Amex, Staples, Dell, Moo and others. These companies are paying Wave a sponsor fee, or an advertisement that is akin to a coupon, but this is how Wave maintains a free and powerful accounting app for your small business.

Kashoo has an award-winning iPad app that caught my attention. Their Web-based version gets high marks, too. I had heard about the company, but thought they were focused on invoicing only. I was wrong. They are a full-fledged accounting software package, in the cloud. They have a free version that is limited to 20 transactions per month, but that works well for many microbusiness owners. Paid plans start at $16/month.

accounting software tools

Zoho is a popular cloud-based office solution and they have an accounting software tool called Zoho Books. It starts at $24/mo for two users. It recently added a feature so you can pull in your bank and credit card statements automatically. And I like that they have an Aging summary high in the dashboard so you can see the age of your invoices and which ones are overdue.

Don’t forget Microsoft Excel is great at number crunching. You can find loads of accounting templates via the Microsoft site and if you start doing advanced stuff with formulas and macros, then a visit to MrExcel.com might be worth a visit.

Last, but certainly not least, are open source accounting software tools. These packages have tens of thousands of users, so don’t discount them because they are open source. You can be running Mac OS X or Linux (Ubuntu) or Windows for some of these. The open source accounting software tools sometimes take a bit more “tech chops” to install and keep running, but just as often, you can click install and you’re set.

Open Source Accounting

Edoceo Imperium does accounting, but bills itself as business management software, so you’ll see additional functions in it. Linux-based only. GnuCash is free accounting software tool with installs for the major operating systems (OS). Gnu allows you to import QIF files, too. TurboCash is based in South Africa, but it works anywhere, of course. Like many open source players, the software itself is free, but support is not. They have over 80,000 users. LedgerSMB is an open source accounting and ERP program which offers businesses accounting, plus the ability to manage their operations, track money, inventory, and more.

Let us know in the comments what service or software you are using to keep your accounting accurate. If your pricing is not transparent, then that’s part of why you might not have been included in this list. Transparent means you list pricing clearly on your website without the need to call a sales rep.

Be sure to view the original list of 17 Accounting Tools for Small Business.

10 Comments ▼

TJ McCue - Product Editor


TJ McCue TJ McCue is the Product Editor for Small Business Trends and an entrepreneur who publishes Tech Biz Talk. TJ is a former Wall Street Journal columnist. He also writes for Forbes and American Express OPEN Forum. He loves learning about technology apps and software services - share yours with TJ.

10 Reactions

  1. Great list of software, TJ. I’ve def bookmarked this for future reference.

    Ti

  2. I use Kashoo for a client since he’s in Canada and has that darn GST. One thing that drives me batty about Kashoo is their “reconciliation” feature. Once you “get” it then it’s good but very easy to accidentally screw something up during the reconciliation process.

    Also, thanks for sharing Wave and being free – since I’m such a Quickbooks girl I don’t keep a pulse on accounting tools. Knowing that Wave is free is awesome – especially for the students in the class I’m teaching right now.

  3. Thanks Ti and Michelle. Much appreciated.
    Michelle, I agree that it is easy to miss out on some of these newer tools if you are focused on a desktop solution. Many of them come in handy for the people just getting started (or looking to make a switch).
    T

  4. Hi all,

    We are launching a lovely accounting software called SlickAccount you can find it at (https://www.slickaccount.com).

    This will solve a age old problem that accounting software never loved to address. That is identifying loss and helping businesses to stay profitable.

    We have simple and fast interface, web-based, great built-in search and many more cool features that solves actual problems. It’s made for small businesses around their daily usages. You will love to use it.

    Hope we will be featured here soon with great reviews.

    And about the softwares featured here, we love Kashoo and Wave.

    Best wishes to all in their ventures.
    Sanmaya

  5. Plenty of new players are entering this cloud accounting software market – looks like the incumbents have a real battle on their hands. Xero, Gem Accounts and Freshbooks just to name a few more.

    These newer entrants have all arrived with some fairly descent feature sets and are certainly getting traction.

  6. Great list of accounting software and their features as well. I would also like to add that inventory management tool also play an important role in managing a business such as Cyberstockroom – it is cloud based and has features to organize inventories.

  7. It would be good to have some features on value added tax support as this will facilitate cross border transaction

  8. Nice List, but I think our EasyAs Accounting Software deserves to be up there! Both incredibly easy to use and very well priced. Perfect for start up businesses

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