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Top 5 Best Bookkeeping Software

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INTRODUCTION

Maybe you have started a small business and are looking for the best bookkeeping software that would help keep your budget and account in place. Or maybe you are looking to start a new business and just want to prepare yourself for future management of your expenses and expenditures.

Each bookkeeping software has its own capabilities, pros and con depending on what you need for your business. You may also want to use a free bookkeeping software as a startup. Let’s also not forget that you may want an easy bookkeeping software since you are new to this.

We have compiled a list of our top 5 bookkeeping software for business starters, contractors, freelancers or experienced managers.

 

HERE ARE THE TOP 5 BOOKKEEPING SOFTWARE.

Every business needs are different and so its technological needs are different. That is why determining the best bookkeeping software should be based on simplicity, versatility and affordability. 

1. QUICKBOOKS :

 

Quickbooks Bookkeeping Software

OVERVIEW 

This is one of the best bookkeeping software used by millions of business owners. It is tagged as a powerful accounting tool. It has a very simple interface and lets you see all about your business and understand the metrics at just the first glance.

The fascinating thing about Quickbooks is that it has so many categories depending on the type of business you do. It also attends to the needs of these businesses. 

There are lots of features like Tax detection and managing contracts. There is a free and paid version in which the paid version has more features.

KEY FEATURES 

  • You and your team can connect from anywhere on multiple devices
  • Sync with your bank so that your details would be up to date
  • Set Automated reminder to avoid late payments 
  • Create custom made invoices and templates
  • Income statement tells you if your business is making profits or loss
  • Revenue stream dashboard gives you key insights about how your business is fairing 
  • Allows you to create a Spending Road map to ensure you achieve all your set business goals
  • Password protected login and Firewall protected server with encryption guarantees 24/7 security while using the app.

PRICING 

They normally have a Start, Essential and Plus package, each comes with a 30 days free trial and with additional features on every bigger plan

  • Start plan cost $17
  • Essential plan cost $26
  • Plus plan cost $36

TRY QUICKBOOKS PLAN

 

2. FRESHBOOKS

 

Freshbooks Bookkeeping Software

OVERVIEW 

This is the best bookkeeping software for self employed, built mostly for service based businesses that mostly involve a contractor or client. They can also apply to businesses of any type, that is why they have different tools for different businesses.

Freshbooks is very spontaneous and easy to learn. You can master all navigations after just one trial.

This software can also integrate over 100 apps so you can streamline, manage your business from one place and collaborate with your team members.

KEY FEATURES 

  • Customizable invoices that shows work done and cost
  • Receive payments in multiple currencies 
  • Time track helps you log time and automatically add it to invoices 
  • Collaborate and manage projects 
  • Automated payment gives client different methods to make payments eg links, credit card and so on 
  • Offers Affiliate marketing and Referral programs
  • Support hours ; Monday – Friday 8am-8pm ET (1pm-1am GMT)
  • Create stunning proposals for your business pitch 

PRICING 

There are different plans available for different businesses and it could either be a Monthly or yearly plan.

These plans are based on the number of clients you may have in your business.

For monthly plans

  • Lite plan (5 clients) cost $7.50
  • Plus plan (50 clients) costs $15.00
  • Premium (unlimited) cost $27.50
  • Select (unlimited) could be customized according 

For Yearly Plans

  • Lite plan (5 Clients) cost $132.00
  • Plus plan (50 Clients) cost $264.00
  • Premium (unlimited) cost $484.00

Get a 50% off once you pay for 4 months and get 10% off yearly payment.

TRY FRESHBOOKS FOR FREE

 

3. XERO

 

Xero Bookkeeping Software

OVERVIEW 

It has a simple and basic setting as it is counted as one of the best bookkeeping software out there for accountants and bookkeepers. Relatively good for individuals in start up businesses who do their accounting by themselves and track their business from anywhere around the world.

Its interface is easily explorable and it allows for third party integration. It also allows you to connect your bank and financial information. Example, PayPal.

There are lots of app options included but they come with their own price variation.

KEY FEATURES

  • Provides multiple layers of protection for the personal and financial information.
  • Easily sync bank and financial information
  • Customizable dashboard that lets you set your account according to how you like it
  • Collaboration with your fellow staff, accountants and employees.
  • Integrate third party apps like stripe, Hubdoc or Vend.
  • Important data from other accounting system using CSV files 
  • See transaction history, email correspondence and saved searches.

PRICING 

The price range in this software is targeted to suit your business 

  • Early plan cost $12.00
  • Growing plan cost $34.00
  • Established plan cost $65.00

TRY XERO FOR FREE

 

4. ZOHO BOOKS

 

Zoho Bookkeeping Software

OVERVIEW 

This is a simple and versatile software that aids you to accomplish your bookkeeping task from the beginning to the end. 

Introduced in 2011, It has proven one of the best free bookkeeping software that has empowered thousands of small businesses.

Zoho books helps you stay up to trends with business, finance, market value and taxes. It has an ecosystem of features that you can easily customize to your taste as well as integration of over 50 + apps.

In addition, It also helps you store up all your documents and projects like receipts and transaction records.

KEY FEATURES 

  • Create your own customized invoices and receive payment in multiple currencies
  • Add company logo and a customized font on your invoices with just one click
  • Set up reminders for your clients
  • Create recurring invoices 
  • Fetch transaction from your banks as easy as possible 
  • Use filters to categorize transaction so you do not miss anything
  • Can easily convert a sales order to a buying based order in case you are short on stocks
  • Collaborate with your team or employees or vendors
  • Available for download on android and IOS

PRICING 

While you can start with the free version as a beginner, there are other paid version with additional features 

  • Free version cost $0
  • Standard cost $64.00
  • Professional cost $134.00
  • Premium cost $204.00
  • Elite cost $819.00
  • Ultimate cost $1507.00

TRY ZOHOBOOKS FOR FREE

 

5. WAVE

 

Wave Bookkeeping Software

OVERVIEW 

As they say, with waves you have one less thing to worry about. Wave is one of the best bookkeeping software for small business. It has a user friendly dashboard that allows you take full control of your business. 

Guess what? It’s completely free, no need for any free trials or subscriptions, except for the payroll, payment plan and customer service.

You can use the services to create invoices, monitor cash flow, profits or net income. You can also use the payroll tool to process payments for your staff or employee.

Wave is web-based and can also be downloaded on Android or IOS

You can check out their official website to learn more.

KEY FEATURES

  • Paid money management system allows you to do online payments. With this method, Wave makes their own money because a service fee is attached to each payment you make
  • Protected by 256-bit SSL encryption 
  • Accepts all cards; Mastercard, Visa, Visa debit, American express 
  • Can easily Automate Bookkeeping 
  • Pay your employees with one click on pay-day when using the payroll plan
  •  Automatic tax filing
  • One-one consultation is also available 

PRICING 

Wave is completely free but some of its features comes with its own payment services

Payment plans 

  • Credit card payment $2.96 + $0.60 per transaction
  • $3.40 + %0.60 per AMEX transaction 
  • $1 per bank transaction 

Payroll

  • Tax service state $35.00
  • Self service state $20.00

Advisor

  • Bookkeeping support  cost $149.00
  • Accounting and payroll coaching cost $329.00

TRY WAVE FOR FREE

 

SUMMARY 

Bookkeeping matters in your business and can help you keep record of every expense made and cash flowing in and out of your business. 

Do you know that you can also get a loan for your small business with bookkeeping? Read all about it here

With the right bookkeeping software you can grow, manage and build stability in your growing business.