Accounting can be one of the most challenging aspects of running your own business, with all of the various financial regulations in different industries, and the difficulty in trying to get everything done manually. Fortunately, there are some amazing accounting software packages that make the entire process much easier to handle and allow you to focus on growing your business rather than dealing with the minute details of bookkeeping. Here are our top 5 accounting software picks for 2022.
Xero is an online accounting software that helps small businesses manage their finances and simplify the tasks of bookkeeping, invoicing, and payroll. The software provides a number of features such as bank reconciliation, time tracking, project management, inventory management and more. As a cloud-based service Xero can be accessed anywhere and on any device with an internet connection.
Sage started out in 1992 as a distributor of accounting software and has grown to be one of the most recognizable names in the small business accounting software industry. In addition to offering a variety of products, Sage also offers training and support. Sage has been endorsed by CPA firms such as BDO, Deloitte, EY, KPMG and PwC which ensures that the company is up-to-date with the latest tax laws.
QuickBooks is a popular accounting software package that offers extensive features and competitive pricing. This includes features like invoicing, inventory management, and more. In addition to this, the company offers a number of professional services at an additional cost. You can also work with their experts for technical support, or you can call customer service in case you have any questions. QuickBooks does not require installation on your computer which makes it easier to use from home or on-the-go.
Freshbooks is the easiest and most affordable small business accounting software package on the market. With a free trial, easy-to-use interface, and low cost subscriptions, there’s no reason not to try Freshbooks. The only downside of this software is that it doesn’t have a mobile app yet. Other than that, if you’re looking for an affordable yet effective way to manage your company’s finances, this could be the perfect solution for you.
Other notable mentions
- Xero – A cloud-based accounting software that offers a mobile app, payroll, and integrates with a variety of other third party apps.
- Intuit QuickBooks – Offers an option to pay by credit card or by invoicing your customers directly.
- Sage 50 US Edition – Offers everything from basic bookkeeping to more robust features like payroll and project management tools.
- SAGE One – Provides all the same great features as its bigger brother, but is only available on one device at a time.