March 20, 2019 | Last Updated on: August 1, 2023
Small business owners need access to a top-of-the-line accounting app, but cutting through the noise and knowing which the best account app is can be not only difficult but also tedious. A good account app is a huge game changer, though, making the hassle worth it in the end.
Because of the importance of finding an accounting app for your small business, the following guide is going to discuss the top 4 apps, along with the pros and cons with each.
QuickBooks is one of the most popular accounting solutions for small businesses. The app provides packages with certain extras including basic inventory management tools along with other top-of-the-line features, but its biggest selling point is its introductory system that makes its app easy to use.
Generally speaking, QuickBooks has glowing reviews regarding its effortless interface, but be sure to read the reviews yourself so that you can gain a fuller understanding as to how business owners have handled this app. The perks of the QuickBooks app are as follows:
QuickBooks’ mobile capabilities are also quite impressive. While you won’t be able to access all of QuickBooks’ features, you can still do the following while on-the-go:
With such mobile capabilities, small business owners can keep tabs on interest rates on business loans as well as the company’s expenses – even when out of the office.
Before you consider QuickBooks, you need to determine if any software is a necessity when running your business. While QuickBooks has many perks and great reviews, if you need more from your accounting app, QuickBooks’ introductory features may be limiting.
Nowadays, Freshbook is the preferred accounting software for 5 million companies and freelance accountants because of its competence at providing detailed insights. While FreshBooks has grown from its small business-friendly beginnings and offers a more advanced version, its classic approach is still available to small businesses needing basic accounting features. For instance, small business owners can overview their equipment financing or acquisition loans easily through this app, ensuring payments are made on time.
Overall, FreshBooks offers invoicing, billing, and exclusive reporting. It also gathers payments needed as soon as an invoice has been received.
While deemed the most innovative accounting app on the market, there are a few small areas that could be further improved for optimum innovation.
The cons are limited when it comes to FreshBooks, making it a trustworthy accounting app for small businesses. Its spotless reporting features and easy to use interface makes this app perfect for non-accounting users, too.
Xero’s reputation depends on who you ask. While many business owners love Xero and would deem it their accounting saving grace, not everyone is ready to sing Xero’s praises. The Xero mobile app is another great option for accounting software, yet small business owners need to be wary about its cons.
More or less, Xero offers the same features as QuickBooks:
However, Xero’s interface does not work as smoothly or as effortlessly as QuickBooks’. The above features are not as quite as intuitive, making the app trickier to use for small business owners.
While there are plentiful features, its less than ideal interface can cause havoc for small businesses. What’s more, with similar pricing to QuickBooks and FreshBooks, Xero doesn’t feel too much like a steal.
Recently, Sage 50 underwent a serious upgrade, making it more cloud-enabled and accessible for tech-savvy business owners who wish to work on the go. All you need is an internet connection, and you can look at your books anywhere, anytime.
There is a selection of plans to choose from, but the most basic of the three is Sage 50 Pro. With Sage 50 Pro, you will have admission to a list of features.
With the last point, if you choose the annual rate, your business could save around two months’ worth of money, than if you paid 12 months at the monthly rate. However, this can still be quite pricey.
It’s important to recognize that although Sage 50 Accounting Software has an array of advantages, there are some glaring imperfections to keep in mind when selecting your accounting app.
While there is no doubt that Sage 50 Accounting Software could help a small business with their accounting endeavors, its hefty price tag can be a turn off for most businesses – especially with its inability to process payroll and payments.
The most important thing to do when selecting an accounting app for your small business is to read multiple reviews, the functions the app comes with and whether it seems like a reliable option for your type of business. Weigh up your budget and the cost of the apps and speak to the companies themselves for their honest opinions.
