12 Best Accounts Payable Software for Small Businesses
Businesses that handle international clients might need multi-currency support. To scale up your business, you need to spend less time on tedious tasks, such as A/P and A/R. Plooto is an all-in-one payment platform that provides greater financial control and simplicity by unifying payments, approvals, reconciliation and reporting. We appreciate that Plooto’s workflow automation reduces errors, expedites your A/P process and improves how vendors get paid. It also offers end-to-end A/P and A/R automation, which is why it’s our choice as the best accounting software for payments. All they need is software to send and track invoices and ensure that they get paid.
Since it’s web-based, users can access their financial data from any device with internet connection. This means less manual work for business owners who don’t have accounting experience. The company has built a strong reputation in the small business market. They’ve even been named a top small business accounting software, outranking many well-known brands in several categories. Users can snap photos of receipts with their phones and upload them directly to the platform, reducing paperwork.
This helps you create accurate financial models, build solid decks, and effectively pitch to investors. Picking the right accounting tool boils down to knowing what exactly you need and what works best for you and your business. Xero is also widely used, especially by small to mid-sized businesses, and is well-known for its user-friendly interface and strong multi-currency support.
ASP/Hosted Solution Providers
Unlike large enterprises that require complex, multi-department financial management, small businesses need streamlined tools that focus on cash flow management, invoicing, and basic reporting. Small business accounting software that has a straightforward, user-friendly interface and basic features like expense tracking, invoicing, and reporting is usually the easiest to use. Popular options that require little to no accounting experience to get started are FreshBooks and Wave, which are renowned for being user-friendly. These platforms help busy small business owners manage their finances by streamlining routine tasks, providing clear dashboards, and offering helpful customer support. Additionally, it is highly customizable, has dependable mobile access, and is user-friendly enough for small businesses to understand. Bill pay, expense tracking, and inventory management are notable features.
- Users say it is extremely easy to use and has all the basic features needed to manage small business accounting needs.
- Some even include tools for inventory management, project management, time tracking and payroll.
- Sana Siddiqui is a full-time Research Analyst at Investopedia with over 10 years of experience focusing on financial products and services.
- To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website.
Sage Business Cloud Accounting
- Reports are your reward for keeping up with your daily accounting and doing it correctly.
- The IRS reports that 40% of small businesses face payroll tax penalties due to incorrect filings.
- Knack offers a no-code, drag-and-drop interface that makes it simple for non-developers to build custom tools.
- QuickBooks also comes in numerous different varieties, from desktop editions through to the hugely popular Online edition.
- QuickBooks Solopreneur is designed for freelancers, contractors, and other self-employed individuals and is ideal for managing estimated quarterly taxes and maximizing deductions.
- Striven is best for small businesses in construction, manufacturing, field services, and distribution.
Wave’s free core features make it a popular option for freelancers and startups, while Zoho Books is a favorite among users of other Zoho apps. More sophisticated or expanding companies that require sophisticated tools like payroll, inventory control, or comprehensive reporting are served by Sage 50 and Oracle NetSuite. Since different business types and experience levels are catered to by each software solution, it’s critical to select one that complements your workflow and long-term objectives.
There are other reports, though, that aren’t so easy to understand. Small business accounting software can generate them, but you may need an accounting professional to analyze them and tell you in concrete terms what they mean for your company. Eight small business accounting applications scored high enough to be included in our list of the best small business accounting software. The other six target small businesses with at least a few employees. Each has multiple tiers of service to meet the needs of businesses that vary in size and functionality.
The Enterprise plan includes 30-plus users, customer features and specialized training to make sure you’re getting the most out of your software product. You also get priority support and a dedicated account rep. Overall, we think the value for money is good, given the array of features included. If you have a big team, you can pay $20 per month extra for unlimited employees.
Key features to look for
However, if you want to exploit the rest of the power tools you’ll need to pay for them. It’s also useful if you’re dealing with a global customer base as there’s multi currency support. So, alongside all of the usual accounting tools you’ll get the ability to handle more complex issues.
If you’re looking for a cheaper solution, Kashoo offers an invoice-centric plan for $0.00. Along with sending invoices, you can use the free plan to track expenses, accept online payments, and send estimates. We’re not sure if the free plan lets you track income and expenses or not—Kashoo’s site gives contradictory answers. Accounting software is a computer program that helps businesses track income and expenses.
Getting started is now a better deal than ever with 30 days free, plus 50% off for 3 months after that. At Business.org, our research is meant to offer general product and service recommendations. We don’t guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services. Most of our top accounting software picks include a free trial, so don’t be shy about trying a few different brands if you don’t hit on your favorite right away. You can set up Kashoo in 60 or so seconds, and the app immediately starts to categorize your expenses and learn your business spending habits. Like Zoho Books, Kashoo’s automation is its selling point—and unlike Zoho Books, it syncs with SurePayroll, one of our top payroll providers.
The top 12 market research software for startups and small businesses in 2025
Xero also allows for integration with Hubdoc, so you can capture documents like receipts and bills and quickly upload that data to Xero. Finally, Xero offers financial reporting tools to help you improve your money management. You can even customize reports and use them for technicalities like 1099 reporting. If you upgrade to a higher-tier plan, you’ll be able to connect up to three sales channels, manage multiple currencies and benefit from time tracking.
We also like that Xero automates many tasks, making easiest small business accounting software it great for businesses that need to save time and resources. Finally, we like Xero for users with more than one business or multiple users, as there is no limit to the number of users, unlike some competitors. Quadient Accounts Payable Automation by Beanworks is a cloud-based software designed to streamline and simplify the accounts payable process for businesses.
Why We Chose QuickBooks Solopreneur For Best Accounting Software For Freelancers
You can access your financial data from anywhere, using any device with internet connection. We chose QuickBooks Online because it is widely used by small businesses and accountants, it offers a plethora of formal and informal training resources, and it has many avenues of support. While you’re thinking about your money, you might also like to consider our reviews of online payroll services and personal finance apps. Record templates vary in complexity, so you need to understand the differences before you go with one accounting service or another.
