The Most Popular Accounting Software for Small Businesses: A Comprehensive Ranking

Choose the accounting software you think is the most popular!

Author: Gregor Krambs
Updated on Apr 17, 2024 06:46
Welcome to StrawPoll, where your opinion matters! Today, we're diving into the realm of accounting software and we want to know your thoughts on the most popular accounting software for small businesses. Thousands of entrepreneurs and business owners like you have already participated in our polls and rankings, and now it's your turn to make your choice count! From QuickBooks to FreshBooks, Xero to Wave, we’ve gathered the top contenders in the market. And if you think we've missed a gem, don't fret - you can easily suggest a missing option. So, why wait? Be a part of this exciting ranking and let's discover together which accounting software truly reigns supreme in the world of small businesses. Cast your vote now and stay tuned for the results!

What Is the Most Popular Accounting Software for Small Businesses?

  1. 1
    46
    votes
    QuickBooks is one of the most popular accounting software for small businesses. It offers a variety of features such as invoicing, expense tracking, and financial reporting. It also integrates with many other business tools and has a user-friendly interface.
    QuickBooks is a widely used accounting software designed for small businesses. It provides comprehensive tools for managing financial data, including invoicing, tracking expenses, managing sales and inventory, and generating financial reports. The software offers both desktop and online versions, catering to user preferences. With a user-friendly interface and robust features, QuickBooks streamlines financial processes, improves accuracy, and helps businesses stay organized and compliant.
    • Invoicing: Create and send professional invoices to customers.
    • Expense Tracking: Track and categorize business expenses.
    • Sales and Revenue Management: Manage sales, track income, and generate sales reports.
    • Inventory Tracking: Track and manage inventory levels.
    • Financial Reporting: Generate financial reports, including profit and loss statements, balance sheets, and cash flow statements.
  2. 2
    29
    votes
    Xero is another popular accounting software for small businesses. It offers a cloud-based platform with features such as invoicing, expense tracking, and bank reconciliation. It also has a mobile app for on-the-go accounting.
    Xero is an online accounting software designed for small businesses. It provides a range of accounting and financial management features to help businesses streamline their operations and stay on top of their finances. With Xero, users can easily track revenue, expenses, and inventory, create and send invoices, manage cash flow, reconcile bank transactions, and generate financial reports. It also integrates with a wide range of third-party applications to further enhance its capabilities.
    • Cloud-based: Accessible from any device with internet connection
    • Invoicing: Generate professional invoices and send them to clients
    • Bank reconciliation: Automatically import and categorize bank transactions for easy reconciliation
    • Expense tracking: Track and categorize business expenses for accurate financial reporting
    • Inventory management: Track and manage inventory in real time
  3. 3
    15
    votes
    FreshBooks is a cloud-based accounting software that is easy to use and has features such as time tracking, invoicing, and expense tracking. It also integrates with many other business tools.
    FreshBooks is a cloud-based accounting software designed for small businesses. It allows users to manage their finances, track expenses, create professional invoices, accept online payments, and generate insightful reports. FreshBooks simplifies the accounting process, making it easy for small business owners to stay organized and make informed financial decisions.
    • Cloud-Based: Access your data from any device with an internet connection.
    • Expense Tracking: Track and categorize expenses for accurate financial records.
    • Invoicing: Create professional invoices and send them to clients easily.
    • Online Payments: Accept online payments from clients through various payment gateways.
    • Time Tracking: Track billable hours and easily add time entries to invoices.
  4. 4
    32
    votes

    Sage 50cloud

    Sage Group
    Sage 50cloud is a desktop accounting software that offers features such as invoicing, inventory management, and financial reporting. It also has a cloud-based platform for remote access.
    Sage 50cloud is a leading accounting software designed for small businesses. It provides a comprehensive set of features and tools to help streamline financial management tasks and improve efficiency. With its cloud capabilities, users can access their data anytime, anywhere, and collaborate with team members in real-time. The software offers a user-friendly interface and is suitable for businesses of all sizes and industries.
    • Financial Management: Includes core accounting features, such as invoicing, expense tracking, accounts payable/receivable, and bank reconciliation.
    • Cloud Integration: Syncs with cloud storage services like Microsoft 365, allowing easy access to data from multiple devices.
    • Inventory Management: Manages inventory levels, tracks stock movement, and generates reports on inventory valuation.
    • Payroll Processing: Enables payroll calculations, tax filings, and provides compliance with government regulations.
    • Reporting and Analytics: Generates customizable financial reports, analyzes business performance, and provides insights for data-driven decision-making.
  5. 5
    19
    votes

    Zoho Books

    Zoho Corporation
    Zoho Books is a cloud-based accounting software that offers features such as invoicing, expense tracking, and financial reporting. It also integrates with other Zoho business tools.
    Zoho Books is a cloud-based accounting software designed for small businesses. It provides a comprehensive set of tools for bookkeeping, invoicing, expense tracking, and financial reporting. With its user-friendly interface and automation capabilities, Zoho Books helps businesses streamline their accounting processes and make informed financial decisions.
    • Cloud-Based: Accessible from anywhere with an internet connection
    • Invoicing: Create and send professional invoices to clients
    • Expense Tracking: Track and categorize expenses for better financial management
    • Bank Reconciliation: Automatically match bank transactions with records
    • Financial Reports: Generate detailed financial reports for analysis
  6. 6
    11
    votes
    Wave is a free accounting software that offers features such as invoicing, expense tracking, and financial reporting. It also has a paid payroll service.
    Wave is a popular accounting software designed specifically for small businesses. It provides a range of financial management tools to help users streamline their accounting processes and stay organized. With its user-friendly interface and robust features, Wave has become a go-to option for many small businesses.
    • Invoicing: Create and send professional-looking invoices with customizable templates.
    • Expense Tracking: Track and categorize expenses to easily monitor cash flow.
    • Bank Reconciliation: Automatically import and reconcile bank transactions for accurate bookkeeping.
    • Financial Reports: Generate detailed financial reports such as profit and loss statements, balance sheets, and tax summaries.
    • Receipt Scanning: Scan and attach receipts to transactions for easy record-keeping.
  7. 7
    7
    votes
    KashFlow is a cloud-based accounting software that offers features such as invoicing, expense tracking, and financial reporting. It also integrates with other business tools.
    KashFlow is a cloud-based accounting software designed specifically for small businesses. It offers a range of features to help businesses manage their financial transactions and streamline their accounting processes. With a user-friendly interface and comprehensive functionality, KashFlow caters to the needs of small business owners.
    • Invoicing: Create and send professional invoices easily
    • Expense Management: Efficiently track and manage business expenses
    • Bank Integration: Connect your bank accounts for automatic transaction imports
    • Financial Reports: Generate various financial reports for analysis and decision-making
    • Payroll Integration: Integrate with popular payroll systems for seamless payroll management
  8. 8
    6
    votes
    MYOB is a desktop and cloud-based accounting software that offers features such as invoicing, expense tracking, and financial reporting. It also has a payroll service.
    MYOB (Mind Your Own Business) is a popular accounting software designed specifically for small businesses. It provides a range of features and tools to efficiently manage financial transactions, payroll, inventory, and invoicing. MYOB offers a user-friendly interface and is suitable for businesses of various industries and sizes.
    • Cloud-based Capabilities: Access your data securely from anywhere at any time.
    • Invoicing: Create and send professional invoices to clients.
    • Financial Management: Track expenses, manage tax, and generate financial reports.
    • Inventory Management: Track and manage your inventory levels.
    • Bank Reconciliation: Easily reconcile your bank transactions.
  9. 9
    6
    votes
    FreeAgent is a cloud-based accounting software that offers features such as invoicing, expense tracking, and financial reporting. It also has a mobile app for on-the-go accounting.
    FreeAgent is a cloud-based accounting software designed for small businesses and freelancers. It offers a range of features including invoicing, expense tracking, project management, tax calculations, and financial reporting. FreeAgent aims to simplify the accounting process and provide users with a clear overview of their financials.
    • Bank integration: Automatic bank feeds and transaction categorization.
    • Invoicing: Customizable invoices with automated reminders and online payment options.
    • Expense tracking: Easy expense categorization and receipt uploading.
    • Tax calculations: Automated tax calculations and VAT return preparation.
    • Time tracking: Integrated time tracking and project management.
  10. 10
    3
    votes

    Accounting Seed

    Accounting Seed Inc.
    Accounting Seed is a cloud-based accounting software that is built on the Salesforce platform. It offers features such as invoicing, expense tracking, and financial reporting. It also integrates with other Salesforce business tools.
    Accounting Seed is a robust and comprehensive accounting software designed specifically for small businesses. It provides a cloud-based accounting solution that is highly customizable and can be tailored to match the unique needs of different organizations. With features ranging from general ledger management to inventory tracking, Accounting Seed streamlines financial processes and enables accurate reporting and analysis.
    • Cloud-Based: Yes
    • Customizable: Highly
    • General Ledger Management: Yes
    • Inventory Tracking: Yes
    • Expense Tracking: Yes

Missing your favorite accounting software?

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Discussion

Ranking factors for popular accounting software

  1. Ease of use
    A good accounting software should be user-friendly and easy to navigate, even for small business owners without an accounting background.
  2. Cost
    The software should be affordable, taking into account both the initial cost and any ongoing subscription or support fees. Different pricing plans and options should be available for businesses with varying needs and budgets.
  3. Features and functionality
    The software should offer a comprehensive set of features that cater to various aspects of accounting, such as invoicing, expense tracking, payroll, inventory management, and tax preparation.
  4. Integrations
    The accounting software should integrate well with other essential business tools and applications, such as point-of-sale systems, payment gateways, and e-commerce platforms.
  5. Scalability
    As a small business grows, its accounting needs will change. The software should be able to easily scale and accommodate the needs of a growing company.
  6. Security
    Financial data is sensitive, so it is crucial that the software offers robust security measures to protect user data and prevent unauthorized access.
  7. Customer support
    A responsive and knowledgeable customer support team can make all the difference when dealing with any technical issues or questions about the software. Look for software that offers multiple support options like live chat, phone, or email.
  8. Customization
    Different businesses have unique accounting needs, so the software should offer customization options, such as the ability to generate custom reports or add specific fields to invoices.
  9. Cloud-based vs. on-premise
    Cloud-based accounting software offers the advantage of accessibility from any device with an internet connection, while on-premise software may offer more control over data security. Evaluate which option is best for your business needs.
  10. Reviews and recommendations
    It's always helpful to read reviews from other small business owners or seek recommendations from industry peers to gauge the overall satisfaction with the software. This can help identify potential issues or areas where the software excels in comparison to others on the market.

About this ranking

This is a community-based ranking of the most popular accounting software for small businesses. We do our best to provide fair voting, but it is not intended to be exhaustive. So if you notice something or program is missing, feel free to help improve the ranking!

Statistics

  • 1750 views
  • 174 votes
  • 10 ranked items

Movers & Shakers

Voting Rules

A participant may cast an up or down vote for each program once every 24 hours. The rank of each program is then calculated from the weighted sum of all up and down votes.

More information on most popular accounting software for small businesses

As a small business owner, managing finances can be a daunting task. That's where accounting software comes in handy. With a variety of options available in the market, it can be overwhelming to choose the right one for your business. However, based on our extensive research and analysis, we have found that QuickBooks is the most popular accounting software for small businesses. It offers a range of features including invoicing, expense tracking, and financial reporting. Additionally, it integrates seamlessly with other business tools such as payment processors and payroll services. With its user-friendly interface and affordable pricing, it's no wonder that QuickBooks is the preferred choice for small businesses.

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