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Top 10 Best Small Business Accounting Software

There are many off the shelf and tailor-made accounting software available in the market; however, to find the one which meets your business need can be challenging. It seems accounting software is alike, and most of them do the same thing and give the same reports. But that is not the case. For instance, some software comes with many features such as crystal reports, financial statements analysis, etc. Others are simple and easy to use without many reporting options. Large companies can often afford to order software tailored to their needs. This is not a feasible option for many small businesses.

Top 10 Best Small Business Accounting Software

Accounting Software – What To Look For

To find the best accounting software, I would suggest looking for accounting software that can meet your needs and grow with your business. You may need to make a list of all the tasks and reports you need small business accounting software to do. This list helps you filter out all the fancy remote business accounting software that does not fit your criteria. Every business has different requirements from accounting software. Therefore, you may need to consider whether the accounting software has the following functions that I have already explained in accounting software features.

Just To Summaries:

  • Ability to support multiple users.
  • Tracking inventory, work in progress, job orders, jobs, and other production and task management requirements.
  • Payroll processing and capability for additional requirements (PAYE, annual leave, extended service leave, etc.).
  • Management and reconciliation of multiple bank accounts and the need to handle foreign currency.
  • Ability to generate department or each business segment-wise.
  • Ability to interface with other software such as payroll and inventory module.
  • Debtors’ management reports include aging analysis, flagging past-due customer balances, and customers exceeding their limits, etc.
  • Ability to generate financial statements and management accounts.
  • Availability of accounting software support and training.

Top 10 Best Small Business Accounting Software

I have come up with my list of the top 8 software options after reviewing each software on the following feature of small business accounting software:
Rank
Software
Basic 
Accounting 
Tools
Reporting 
& 
Analytics
Employees 
and 
Payroll
Inventory 
& 
Services 
Management
Overall 
Rating
1
10
10
10
10
10
2
Sage 50
10
10
10
10
9.88
3
AccountEdge
8.75
9.38
10
8.75
8.85
4
Cougar Mountain
7.5
8.75
7.5
7.5
8.07
5
CYMA
10
6.25
8.75
8.75
7.95
6
Bookkeeper
6.25
6.25
6.25
6.25
5.88
7
Business2Go
6.25
5
0
5
4.2
8
Express Accounts
5
5
0
2.5
3.38
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Comments

  1. Raju kumar28 March 2022 at 23:09

    Thank you for sharing blog about tally on mobile . power of simplicity, it is a trusted software for small and medium-sized businesses. With the implementation of the Goods and Services Tax (GST) Act in India

    ReplyDelete

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