2018 Small Business Accounting Software Reviews & Pricing Guide
Accounting software is a necessary application for any size business to track all financial information, including accounts payable and receivable, expenses, and taxes, at the very least. It typically includes features for invoices, inventory and vendor management, and powerful reporting tools to help you manage the monetary health of your small business.
Workday Financial Management offers solutions for finance, inventory, procurement, and more. Similar software range between $1,000-$150,000+/year. View Profile
BasicBooks offers account reconciliation, payroll, & year-end support to companies with annual expenses below $1.5 million. Price starts at $250/mo... View Profile
Oracle Financials Cloud offers solutions for accounting, reporting, automation, and more. Pricing starts at $600/user/month. View Profile
Epicor ERP is an ERP software geared mainly toward manufacturing businesses. Perpetual licenses are estimated to start at $40,000/year. View Profile
Sage 500 ERP offers solutions for accounting, finance, distribution, and more. Licenses are estimated to cost between $15,000 to $250,000. View Profile
MoneyWorks is an accounting and ERP software that has Mac, PC, and cloud-based versions. Pricing for cloud-based ERP starts at $49/month. View Profile
How to Get Up to Speed with Accounting Software
Learning how to use new accounting software like QuickBooks Online can be easier than you think. You have plenty of options when it comes to training and courses.
1. Do it Yourself (DIY)
If you prefer to learn on your own, then the do-it-yourself approach may be best when you’re trying to figure out a new accounting system.
Free Tutorials: Get step-by-step instructions on everything from setup to bank reconciliations. For example, this QuickBooks Online course is free and ensures you’ll be ready to go when you roll out the new system for your small business. You may be able to find user-created video tutorials on other specific accounting software.
Documentation: If you absorb information better through the written word, you can still benefit from the QuickBooks Online course, as it’s all presented through documentation, not just videos. You could also search for how-to guides from users online for other accounting software. Start with the basics, and then delve into the more advanced features when you’re comfortable with your chosen small business accounting software.
2. Training Through Software
Many accounting software companies offer guides, knowledgebases, or articles to help guide you through learning their software — they’re usually found on the software company’s support website or within the software itself. Some offer one-on-one training with a dedicated account manager or trainer, who will work with you to make sure you know how to use every tool and feature you require for your business.
3. Hire a Bookkeeper or Accountant
Alternatively, you could hire a bookkeeper or accountant who is familiar with the accounting software you’ve picked to train you personally. In fact, you might want to speak with an accountant before choosing an accounting software service for their advice — after all, they use the software, too.
Third-party App Integration with Accounting Software
When your accounting software seamlessly integrates with other apps and programs you use, you should be able to focus more easily on getting work done and generating revenue. Aside from ensuring you can connect your business bank accounts with your accounting software, which is a given, you might want to consider how well an accounting program syncs with the big names, such as G Suite and Zapier.
Here’s a list of popular and useful integrations with some of the best small business accounting software, and how they’ll benefit your business:
Gusto: This app can handle payroll processing for all your employees, including contractors. It includes a lot of employee needs, such as vacation days, benefits, and more.
T-Sheets: If you need a fully-featured time-tracking application, this one plays well with the big accounting software titles, and it includes more than a time tracker — you can also manage employee scheduling and overtime for accurate payroll and reporting.
MailChimp: Combine your contacts and clients in your accounting software with this popular app for automated email marketing to save you time and create more streamlines workflows.
Insightly: Make a stronger connection between the work you do in Insightly and your accounting software, and get a clearer, more complete view of the business you do with each client from conversations and sales process to project management and invoicing.
Zendesk: Customer support members using this app can log hours directly into an integrated accounting software, which is one less step for payroll processing.
Will Accounting Software Replace Accountants?
Although accounting software like QuickBooks Online has developed more plug-and-play ease of use lately, you’re still going to need your accountant to help you, especially during tax season. Although technology continues to improve automation and the features of programs accountants use to calculate your taxes and file paperwork, there is still a need for accountants to analyze the data and find the best solutions for your small business.
In fact, by 2022, according to market research, there should be more than 650,000 more accountants, bookkeepers, and auditing clerks, and accounting services revenue jumped from $94 billion in 2014 to approximately $156 billion in 2018.
Questions to Ask Before Choosing Accounting Software
Before you decide on accounting software for small business, consider these questions to help guide you to the right choice.
- How much will it cost to integrate other apps?
Depending on the accounting software you choose and the plan you pick, you might end up with software that has some missing features, such as payroll and inventory management. You can supplement many small business software choices with apps, such as Gusto for payroll, or Vend for inventory management. It’s important to keep in mind that while many of addons are free, some come with a small monthly cost.For example, QuickBooks Online offers payroll processing, but it costs $39 to $99, plus $2 per employee per month. FreshBooks includes time tracking at no added cost, but it doesn’t include inventory tracking, which QuickBooks Online offers. So, make sure you do the math to determine which choice is best for you.
- Which is the most used accounting software for accountants?
Between the various surveys and global market research conducted, the most popular and used accounting software is QuickBooks Online (and the desktop version), but FreshBooks and Xero are climbing the ranks. Currently, about 4.3 million businesses use QuickBooks for accounting.
- Is the accounting software scalable?
The best way to ensure you won’t have to migrate all your data to another accounting software system when your business grows is to pick one that will scale with your growth. Look for a company that offers accounting software plans with advanced features, third-party app integration, and unlimited users.
- Is support included in your accounting software subscription, or do you need to pay more for it?
Having good customer support with your accounting software subscription could be vital to the success you have with the software. Make sure that 24/7 support is included, and that you can get your questions answered quickly. Read the fine print to ensure you don’t have to pay more for the service, or be sure to work it into your budget.
The Bottom Line
Choosing accounting software for small business comes down to careful consideration. You want to look at accounting software comparisons that show you the features, price, and what’s missing. Accounting software can streamline your workflows and save you lots of time, if you choose the one with the right features. Reading through accounting software reviews can help you find the perfect accounting solution for your small business.
Top Accounting Influencers of 2018
We’ve scouted the web for accounting influencers with a robust social media presence and put together the list below of the top accounting influencers of 2018.
Our goal for this list is to present helpful accounting tips to small business owners right from the accounting experts themselves. We found that the accounting influencers listed have outstanding credentials, expertise, and skills pertaining to the accounting industry, as well as an impressive quantity of social media followers.
2018 Top Accounting Consultants in the U.S.
Searching for a new accounting firm? Seeking out a top accounting consultant for your small business? If so, you’re in luck! We’ve scoured the web for quality accounting consultants located in various regions, and put together the list below of the top accounting consultants in the U.S.
Our goal for this list is to inform small business owners about helpful accounting consultants that they can work with to strengthen their business. We found that the consultants listed have outstanding expertise, services, and credentials in the accounting industry.