The Best Accounting Software for Small Businesses

Accounting is one of the more complicated parts of running a small business and is often not a part of its primary skill set. A host of software is on offer to small companies that are usually cheap and can significantly impact organizing and automating these jobs. Using the correct software and systems will help reduce the amount of time you need to worry about accounting, giving you more time to focus on your business’ day-to-day running.

Top 7 Accounting Software for Small Businesses

Using the correct software and systems will help reduce the amount of time you need to worry about accounting. Here top 7 accounting software for small businesses.

#1 Xero

Xero is accounting software based entirely on the cloud and is designed to help small businesses manage a range of accounting tasks, from invoices, inventory, to bookkeeping in a single place. The software has a mobile app to check your finances when you’re not at your laptop or PC and has flexible pricing to fit what you need.

#2 FreeAgent

FreeAgent is explicitly made for freelancers and contractors and allows you to log your time, expenses, review your business accounts, and file your tax returns with ease. If you’re an early-stage business, but need a platform to manage your accounting, this is ideal. Pricing starts at £19 per month for the first six months and has a free trial, so you can test if it’s right for you.

#3 Zoho

Another accounting system made for small businesses, this software has everything you need to run your day-to-day accounts, such as invoicing, expenses, inventory tracking, bank connection options, and more. There’s a 24/7 support service to assist with any issues, and the basic package starts from only £6 per month.

#4 QuickBooks

Designed with flexibility in mind, QuickBooks is designed for small businesses and freelancers, with many features to help manage your accounts. You can select add-ons based on the parts you need, rather than having to pay for an all-in-one system with many features that aren’t relevant for you. You can also use it remotely by using cloud based QuickBooks which can be accessed through Microsoft Azure vdi for maximize your accounting experience.

#5 Workable

If you’re hiring additional staff, you’ll have likely found a lot of admin, and the process can quickly become messy. Workable offers a hiring workflow pipeline to help you keep track of candidates as they move through your interview process. You can add in applications, schedule interviews, and score applicants after interviews. The software allows you to create job descriptions, and then automatically post them onto popular job boards and has 24-hour support.

#6 Gusto

If you’re spending a lot of time on payroll and staff benefits, then Gusto may be an ideal solution for your business. The system integrates with other accounting software and helps with deposits, tax filings, and employee payments. You can upload employee benefits, charts of organizations, and add in retirement planning. For more information on tax-specific software, go to Tax Fyle for all the resources you may need.

#7 Zoho People

Like their accounting software, Zoho People is flexible and scalable, with all the basic HR tools you need and integrate with other Zoho products. The software is free if you have five or fewer people on the system and allows you to store employee information, manage holiday time and sick pay, performance management, and more.