Best SMB accounting software

SMB accounting software is a software that helps small and medium-sized businesses (SMBs) manage their financial transactions, such as income, expenses, taxes, invoices, payroll, and more. SMB accounting software can help SMBs save time, money, and resources by streamlining their accounting workflows, generating reports, integrating with other tools, and providing security and backup. However, not all SMB accounting software is suitable for every business. SMBs need to consider various factors when choosing the best SMB accounting software for their needs, such as:

  • The features and functions that they need. Depending on the size, type, and complexity of their business, they may need different features and functions from their SMB accounting software. For example, some common features and functions that they may look for are invoicing, expense tracking, bank reconciliation, tax preparation, payroll, inventory management, project accounting, and multi-currency support.
  • The ease of use and learning curve. They want an SMB accounting software that is easy to use and learn, especially if they are not accounting experts. They should look for an SMB accounting software that has a user-friendly interface, intuitive navigation, clear instructions, and helpful support. They should also check if the SMB accounting software offers a free trial, a demo, or a tutorial to help them get started.
  • The cost and value. They want an SMB accounting software that fits their budget and offers the best value for their money. They should compare the pricing plans, features, and benefits of different SMB accounting software options, and see which one meets their needs and expectations. They should also consider the hidden costs, such as setup fees, upgrade fees, transaction fees, and cancellation fees.
  • The security and reliability. They want an SMB accounting software that protects their financial data and ensures its availability and accuracy. They should look for an SMB accounting software that uses encryption, authentication, backup, and recovery methods to safeguard their data from unauthorized access, loss, or corruption. They should also check the uptime, performance, and customer reviews of the SMB accounting software to see how reliable it is.
  • The integration and compatibility. They want an SMB accounting software that works well with their existing tools and systems, such as their ERP, CRM, EAM, SCM, and more. They should look for an SMB accounting software that offers integration and compatibility with the tools and systems that they use or plan to use, and see how seamless and efficient the data transfer and synchronization are.
    By considering these factors, they can narrow down their options and find the best SMB accounting software for their business. To help them further, here are some of the best SMB accounting software options that they can check out, based on their features, functions, ease of use, cost, value, security, reliability, integration, and compatibility:

QuickBooks Online: This is one of the most popular and comprehensive SMB accounting software options. It offers a range of features and functions, such as invoicing, expense tracking, bank reconciliation, tax preparation, payroll, inventory management, project accounting, and multi-currency support. It also has a user-friendly interface, a mobile app, a dashboard, and reports. It integrates with many tools and systems, such as PayPal, Shopify, Square, Mailchimp, and more. It has four pricing plans, starting from $30 per month1.

Xero: This is an SMB accounting software option that offers advanced features and functions, such as quotes and invoices, bank reconciliation, tax preparation, payroll, inventory management, project accounting, and multi-currency support. It also has a user-friendly interface, a mobile app, a dashboard, and reports. It integrates with many tools and systems, such as Stripe, Shopify, HubSpot, Gusto, and more. It has three pricing plans, starting from $15 per month2.

Zoho Books: This is a free SMB accounting software option that offers basic features and functions, such as invoicing, expense tracking, bank reconciliation, tax preparation, and multi-currency support. It also has a user-friendly interface, a mobile app, a dashboard, and reports. It integrates with other Zoho products, such as Zoho CRM, Zoho Inventory, Zoho Projects, and more. It has three paid plans, starting from $20 per organization per month3.

FreshBooks: This is an SMB accounting software option that offers ease of use and simplicity. It offers basic features and functions, such as unlimited invoicing, expense tracking, bank reconciliation, tax preparation, and multi-currency support. It also has a user-friendly interface, a mobile app, a dashboard, and reports. It integrates with many tools and systems, such as PayPal, Shopify, Mailchimp, Slack, and more. It has four pricing plans, starting from $8.50 per month4.

AccountEdge Pro: This is a desktop SMB accounting software option that offers a powerful and customizable solution for automating your financial operations. It offers features and functions, such as invoicing, expense tracking, bank reconciliation, tax preparation, payroll, inventory management, project accounting, and multi-currency support. It also has a user-friendly interface, a mobile app, a dashboard, and reports. It integrates with some tools and systems, such as Shopify, Rerun, and more. It has a one-time fee of $3995.

These are some of the best SMB accounting software options that they can consider. However, they should always do their own research and compare different options before making a final decision. They should also consult with their accountant, bookkeeper, or financial advisor to get professional advice and guidance. By choosing the best SMB accounting software for their business, they can save time, money, and resources, and focus on growing their business and achieving their goals.