Top 10 Accounting Software in 2024

If you are searching for accounting software, then you have come to the right place. This blog is your go-to resource about the top 10 accounting software in 2024.

We’ll dive deep into each software knowing about its key features, pricing plans, user ratings, and reviews, giving you a comprehensive understanding of what each one has to offer. Let’s get started then!

Software	Starting Price	Average Rating	Trial Period	Free version
Refrens	₹100/month	4.9⭐	Upto 10 documents	Upto 50 documents
Tally Solution	₹750/month	4.4⭐	No	No
Freshbooks	$7.60/month	4.5⭐	30 days	No
Quickbooks	$6/month	4.3⭐	30 Days	No
Paymo	$5.9/month	4.7⭐	No	Yes
BQE Core	Custom Pricing	4.5⭐	Request for the Demo	No
Vvyapar	₹3399/year	4.4⭐	No	No
Moon Invoice	₹333.33/month	4.5⭐	7 days	No
Xero	$25 -$54/month	4.4⭐	30 days	No
Zoho	₹749/month	4.7⭐	Free	Yes

Table of Contents

10 Best Accounting Software In 2024

1. Refrens: Best Accounting Software

Refrens is a cloud-based accounting software that allows users to manage various financial tasks including invoicing, expense tracking, and financial reporting and financial reporting such as P&L Statements, Balance Sheets, GSTR-1, etc. It has a user-friendly interface and secure cloud storage.

Refrens is suitable for businesses of all sizes and integrates with several other platforms. Some benefits of using Refrens include scalability, automation, and ease of use.

In short, Refrens offers a comprehensive solution for businesses that need easy-to-use and affordable accounting software.

Key Features:

Ledgers & Account Groups: Manage your transactions efficiently by recording and organizing them into distinct account groups, facilitating easy monitoring of individual account balances.
Profit and Loss Statment: Effortlessly monitor your business’s profitability with the P&L Statement.
Comprehensive Reports: Instantly generate comprehensive reports for invoices, payments, clients, TDS, GST, and more with just one click.
Balance Sheet and Trial Balance Report: Gain insight into your business’s financial well-being through the Balance Sheet and Trial Balance Report, providing a comprehensive view of your financial status.
Bulk Upload: Efficiently save time and effort by bulk uploading your past invoices and client details.
Multiple Businesses & Team Members: Manage multiple businesses easily. Add team members and control access with customizable roles.
Invoice creation: Create and send professional invoices to your customers in seconds.
Expense tracking: Track your business expenses effortlessly and categorize them for easy reporting.
Financial reporting: Gain valuable insights into your business performance with easy-to-read financial reports.
Inventory management: Manage your inventory levels effectively and reorder supplies when needed.
Secure data storage: Securely store your financial data with peace of mind knowing Refrens employs industry-standard security measures.
Customer support: Get 24×7 help from customer support if you are stuck somewhere.
Client management: Track client interactions and send reminders for unpaid bills.
Multi-currency support: Manage ledgers and vouchers with support for multiple currencies.
Payment integrations: Integrate Refrens with multiple payment options to get paid faster.

Additional Features:

Financial Analysis, Billing Software, Inventory Management, Expense Management Software, Delivery Challan, GST Billing Software, Multi-Business Management, E-Invoicing Software, e-way bill software, Quotation Software, Lead Management Software, Sales CRM, and more.

Pricing:

Free Plan: free plan for small businesses to create up to 50 documents/year
Premium Plan: Pricing starts from as low as ₹100/month or $2.5/month depending on the number of users & features

Rating:

Capterra: 4.8⭐/05
G2: 4.6⭐/05
Software Suggests: 4.8⭐/05
Software Advice: 5⭐/5
Get App: 4.9⭐/5

User Reviews of Refrens

👍	👎
“I love the way the software has made invoice management easy and trendy. The templates are vibrant, the dashboard is holistic and automation is all a busy prof needs” *~Akshay*	“Less Export and Import Invoicing features. No mobile app decreases mobility” *~Jainil*
“Refrens is user-friendly. It gives the best invoicing solution for small enterprises” *~Swaroop*	“Minor field changes are sometimes difficult.” ~Bharat
“Good Dashboard and is easy to use, cost-effective” *~Mahendra*	“Mmmm, if I have to, if I have to then I’d say what I like the least is the pricing. They can easily sell it at a higher rate..” ~Sahil

Source: Software Advice

2. Tally Solution

Tally Invoice is an accounting software designed for GST-compliant invoicing, offering flexible management of purchases and sales, various billing formats, inventory management, insightful business reporting, and the ability to share invoices via WhatsApp.

Key Features:

Accounting Report: Access a range of accounting reports including ledger reports, cash and bank books, purchase and sales registers, bills receivable, bills payable, and bills aging analysis.
Automated Efficiency: Automated accounts management saves time and resources
Informed Decision-Making: Provides actionable reports for informed decision-making
GST returns & reconciliation: Handle GST return filing and reconciliation seamlessly, ensuring accuracy and compliance.
Error Reduction: Ensures accurate ledger entries, minimizing errors
Remote Accessibility: Allows easy remote access for on-the-go management
Invoicing: Create GST-compliant invoices with customization options. Enjoy built-in intelligence for various GST invoice types and seamless integration for instant e-invoice and e-way bill generation.
Multi-currency support: Easily manage transactions in multiple currencies with TallyPrime. Adjust gains or losses from currency rate fluctuations effortlessly.
Enhanced Security: Offers improved security with restricted access and encryption
Connected e-invoice & e-way bill: TallyPrime provides instant e-invoice and e-way bill generation, offering flexibility for single or bulk invoices.

Additional Features:

Inventory Management, E-invoice, Taxation and compliances, Payroll management.

Pricing Plan:

TallyPrime Rental Plans:

Silver: Standalone PCs, INR 750/month +18% GST (1/3/12 months).
Gold: Multiple LAN PCs, INR 2,250/month +18% GST (1/3/12 months).

TallyPrime Perpetual Plans:

Silver: Standalone PCs, INR 22,500 +18% GST (zero-cost EMI).
Gold: Multiple LAN PCs, INR 67,500 +18% GST (zero-cost EMI).

TallyPrime Developer Plans:

Silver: INR 11,250/year +18% GST.
Gold: INR 33,750/year +18% GST.

Rating :

Capterra: 4.4⭐/5
G2: 4.4⭐/5
Get app: 4.4⭐/5
Software Advice: 4.5⭐/5

3. Freshbooks

FreshBooks shines as the premier accounting software, particularly favored for its intuitive interface catering to the needs of small businesses and freelancers.

Its array of features, including expense tracking, time management, and collaborative tools, delivers a holistic solution for efficient financial management.

Key Features:

Expense tracking: Use the built-in timer to accurately bill clients for your time and easily add time tracked by your team members to your invoices.
Reporting: Get advanced accounting reports and a clear financial overview with FreshBooks. Make informed decisions, scale your business confidently, and rely on accurate data for tax time.
Accounts Aging: The Accounts Aging report summarizes overdue invoices, helping you identify which clients need reminders.
Profit and Loss: The Profit & Loss report provides a comprehensive overview of your business’s income, purchases, bills, and expenses, enabling you to gauge its profitability accurately.
Intuitive Invoicing: FreshBooks offers a straightforward and intuitive invoicing system, ensuring ease of use and professionalism.
Recurring Invoices: Seamlessly set up automated recurring invoices for subscription-based or regular services.
Expense Attachment: Enhance transparency in billing by directly attaching expenses and receipts to invoices.
Time Tracking for Invoicing: Easily track billable hours and effortlessly convert them into invoices.
Multi-Currency Invoicing: Cater to diverse clients by invoicing them in their preferred currency, with automatic conversion support.
Sales Tax Summary: Tacks your sales taxes paid and collected, simplifying remittance calculations.
Late Payment Reminders: Maintain a steady cash flow by automating reminders for overdue payments.

Also read: Proven Strategies For Handling Late Payments & Disputed Invoices

Additional Features:

Double-entry accounting, Bank Reconciliation, Proposals and Estimates, Client Retainers, Report Generation, Mobile Apps

Pricing :

Trail Period: 30 days
Lite: $7.60/month
Plus: $13.20/month
Premium: $24.00/month
Select: Contact for the pricing

Rating :

Capterra: 4.5/⭐5
Software Advice: 4.5⭐/5
G2: 4.5⭐/5
Get app: 4.5⭐/5
Software Suggest: 4.7⭐/5

User Review for Freshbooks

👍	👎
“Better pricing, better user interface, and more functions as compared to QuickBooks (and all the same functions are equally good but more intuitive)” *~Andrey*	Possibly capturing expense receipts and better AI-driven logic to organize them by expense category could use improvement. Possibly more financial reports” *~Andrey*
“I like the easy invoice creation process which allows customers to quickly pay their bill by simply clicking one button on the online invoice. In addition, the financial reports provided are excellent and give great financial insight into the business.” *~Eugene*	“Seems like it could offer more features for the price point (maybe something to help with tax time)” *~Levi*
“FreshBooks is good for freelancers or service-based small businesses that need to track time spent on client projects and report the time on invoices. It’s also good for tracking basic expenses, whether allocated to the business or passed on to clients. The reporting features are also useful. The payroll integration with Gusto is a simple and affordable way to run payroll for a small business. ” ~Craig	“What was least favored with this software was the amount of double to triple entry of data and lingering had to be checked and rechecked due to inaccurate totaling and the taxes aren’t even close to kept accurate here.” *~Amy*

Source: Software Advice

If Freshbooks is something that didn’t work for you, check out this article: Top 10 FreshBooks Alternatives

4. Quickbooks

QuickBooks stands as a top-tier accounting software, specifically tailored for small businesses’ invoicing needs.

Its robust invoicing capabilities, combined with comprehensive financial management features, make it an ideal choice for small to medium-sized businesses.

Key Features:

App integration: Integrates with third-party apps to enhance accounting practices and streamline workflows for both you and your clients.
Data migration: Quickly migrate data from various platforms to QuickBooks Online. Clients can grant accountant access and invite you via QuickBooks Online Accountant for seamless collaboration.
Mobile accounting App: QuickBooks mobile app empowers clients to manage their business on the go, saving time and focusing on business operations.
GST & VAT tracking: Accountants streamline GST and VAT tracking, helping clients organize expenses and track sales tax, ensuring clarity and ease at tax time.
Insights and reports: Access insights into your client’s business performance and future projections with a range of financial accounting reports and the cash flow planner.
Professional Invoicing: Craft polished invoices aligned with your brand using customizable tools and templates.
GST Compliance: Seamlessly generate GST-compliant invoices with built-in data fields tailored for Indian regulations.
Automated Recurring Invoices: Simplify invoicing processes with automated recurring invoices, ensuring punctual payments.
Streamlined Batch Invoicing: Save time by sending unlimited invoices daily in batches through WhatsApp, email, or printing.
GST Bill Tracking and Reminders: Effectively monitor pending GST bills and automate reminders for timely payments.
Real-time Cash Flow Management: Gain instant insights into cash flow status and effortlessly generate statements for informed financial decisions.

Read more: 5 Pros to Hire an Accountant

Additional Features

Cloud Accounting, Online Banking, Reports, Inventory Management, Apps, and Add-ons.

Pricing

Easy Start: $6/month
Essential: $12/month
Plus: $14/month
Advance: $28/month

Rating

Capterra: 4.4⭐/5
G2: 4.3⭐/5
Get app: 4.4⭐/5
Capterra: 4.3⭐/5

User Review for Quickbooks

👍	👎
“Moving from our managment system to QBO allowed for easier reporting and record keeping” *~Chris*	“The worst is the recent invoice update since I am not able to view product and service section and it gets cut off while description section is long which most of the times I do not need. Also, an autamated system to create invoices will make doin business much quicker” *~Mumta*
“ILove that it organizes everything for me and creates easy reports and really fast with invoices and direct deposits and issuing payroll to our employees.” *~LAURA*	“Reports are much more limited than QB Desktop.” *~Maureen*
“That banking is attached and there is AI technology” ~Mumta	“There are serious limitations with issuing end-of-year donation statements. One can’t filter out sales and can’t customize the statement text to meet regulations. The statements are very inflexible.” *~Ahmad*

Source: Software Advice

5. Paymo

Paymo emerges as a standout free invoicing solution within the realm of accounting software, offering a unified workspace encompassing project management, precise time tracking, client invoicing, and profitability assessment.

Key Features:

Professional Invoicing: Effortlessly generate polished invoices directly from timesheets or projects, ensuring an accurate representation of billing.
Global Compatibility: Seamlessly support multiple languages and currencies, catering to diverse client bases.
Recurring Invoices and Reminders: Simplify invoicing processes with recurring invoices and automatic payment reminders for enhanced efficiency.
Online Payment Integration: Integrate with leading online payment gateways such as PayPal, Stripe, and Square, facilitating secure and direct client payments.
Real-time Tracking: Monitor invoices in real-time, enabling users to track client views and payment statuses for enhanced transparency.
Customizable Templates: Utilize customizable invoice templates to maintain a consistent and branded appearance, enhancing professionalism.
Financial Reporting: Generate comprehensive financial reports, including profit and loss statements, to gain insights into business finances.

Additional Features

Time Tracking, Task Management, Planning and Scheduling, Resource Management, File Management, Client and Team Collaboration, Analytics and Reporting

Pricing

Starter: $5.9/month/user
Small Office: $10.9/month/user
Business: $16.9/month/user

Rating

G2 4.6⭐/5
Capterra 4.7⭐/5
Software Advice 4.5⭐/5
Get app 4.7⭐/5

User Review for Paymo

👍	👎
“Paymo is very flexible, It let me create easily estimates and transform them into invoice once the contract is signed, I also use it to track my time spent on each projects with their neat app, and all of that for a really inexpensive price.” *~Pérocheau*	“I wish the app was just a little bit faster, but I read somewhere that they already have this improvement on their roadmap. Still, if you ask me, it’s totally worth the wait for every new feature and improvement their team is cooking for us :)” *~Vera*
“The creation of Projects and Tasks is easy and intuitive. Having the freedom to define the status of each project and create deadline alerts is also useful to ensure that each team member is on top of each task. ” *~Vera*	“Would be helpful if all the features were available on mobile/iPad or if I could login via browser on mobile..” *~Sam*
“Paymo allows us to track time easily and provide monthly reports to clients, as well as include PayPal functionality for invoices. The Paymo team is quick to communicate when we have issues or feedback. Other similar products have tried to sell themselves to us but we tell them we’re 100% happy with Paymo.” ~Brian	“The desktop app has been updated and works better but could still improve. The mobile app is still confusing and hard to work with, specially when, as a Project Manager, I have multiple projects with infinite tasks assigned to me” ” *~Jelena*

6. BQE- Core

BQE Core emerges as a leading invoice billing software within the accounting software landscape, seamlessly integrating time tracking, expense tracking, project management, and invoicing and accounting functionalities into a cohesive platform.

Key Features:

Streamlined Invoicing: Simplify the invoicing process to ensure accuracy and prompt payments for your projects.
Recurring Invoicing: Establish automated recurring invoices for consistent and predictable billing cycles, enhancing efficiency.
Automated Billing: Simplify billing tasks with automated systems, enabling the creation of bills tailored to your preferences.
Customizable Invoice Templates: Utilize customizable invoice templates aligned with your brand and tailored to specific business requirements.
Flexible Invoice Scheduling: Customize and automate invoice schedules based on your preferred timing and frequency, enhancing convenience.
Project-Specific Billing Solutions: Effortlessly manage different project types with features like variable value invoicing and project-specific billing, ensuring tailored solutions for diverse needs.
Multi-Currency Capability: Conduct transactions in multiple currencies to meet diverse business needs and global requirements.
Instant Payment: Accelerate payment cycles by promptly submitting invoices and expense receipts upon approval, leveraging instant ePayments.
Financial Management: Improve cash flow management by consolidating time, expenses, and billing tracking in one central location.
Invoice Splitting: Divide invoices as needed to accommodate various billing arrangements, providing flexibility.

Additional Features

Reporting and Analytics, Human Resources, Integration, Time and Expense Tracking, Project Accounting, CRM, and Professional Service Automation.

Pricing

Submit a request for pricing to receive detailed information about all available plans

Rating

G2 4.3/⭐5
Capterra 4.5⭐/5
Get app 4.5⭐/5
Software Suggest 4.5⭐/5

User Review of BQE Core

👍	👎
“The functions on BWQ CORE Suite are very user-friendly & easy to navigate. I am able to track my time that I spend on each project very easily, which in turn helps me prioritize my tasks for the upcoming weeks.” *~Taylor W.*	“Sometimes the program will run a bit slower than others that I use on my computer, but that could very well be related to the amount of information under one’s profile rather than being a quality issue.” *~Taylor W.*
“The timecard feature is very intuitive and display is nice. I really like how easy it is to add and track projects, especially the ability to add multiple phases and sub-phases to projects, each with their own fee structures. My FAVORITE part of the system is instant feedback on time cards when billable time for a project has been exceeded. Core also makes creating invoice and tracking payments very quick. I can get my monthly invoice done in under an hour. The system has paid for itself a few times over with the time I have saved on invoicing. ” *~Eric S.*	“Occasionally pages will load a little slowly, but this has been improved recently.”.” *~Eric S.*
“The best part is that it all connects to each – each entry hits all pieces of the accounting process. The best part about this is that is saves time. i do not have to reenter the same information into multiple screens.” ~Angie	“The reporting is the most challenging part of getting the hang – it is great to have every option, but it can be challenging to figure out the suitable filters to get what you want.” ” *~Angie*

Source: Software Advice

7. Vyapar

Vyapar’s accounting software offers swift and hassle-free GST tax return filing within minutes, streamlining invoicing operations effortlessly.

Key Features:

Reporting: Analyze business growth by generating sales reports from invoice and expense data over the years.
Cash Flow: Track cash flow to ensure your business runs on surplus cash, exceeding expenses for sustainability.
Barcode Scanner: Effortlessly streamline your billing process by connecting a barcode scanner to your PC with Vyapar. Scan products to add details directly to your invoice, saving time and effort.
Data Safety: Ensure data security with Vyapar app’s advanced system, allowing private organization backups. Safeguard all data and schedule backups to Google Drive for added security.
Invoicing Automation: Vyapar streamlines billing processes through task automation, reducing manual efforts and errors, and allowing focus on core activities.
Automated Invoice Sending and Receiving: Fully automate both the sending and receiving of invoices for quicker payments, cost savings, scalability, and improved ROI.
Unique Invoice Reference Numbers (IRN): Prevents duplicate uploads and ensures invoice authenticity with unique reference numbers and barcode authentication in the e-invoicing system.
Customizable Invoices: Generates unique, professional invoices and estimates using premium templates, projecting a polished brand image to clients.
QR Code Payments: Incorporates QR codes for seamless payments and includes bank details in invoices, ensuring prompt client payments.
User-Friendly Interface: Designed with an intuitive interface, Vyapar ensures ease of use without specialized training, making financial management accessible for all.
Payment Reminders: This enables sending payment reminders via email or WhatsApp, aiding in effective management and tracking of paid and unpaid invoices.
Integration: Seamlessly integrates with existing enterprise applications for smooth data flow and enhanced efficiency.

Additional features

Multiple login features, Organized data, Inventory management, generate quotations, Tracking orders, Recording expense, Receivables, and Payables, Bank account integration, Business insights

Pricing:

Silver Plan: ₹3399.00 for 1 year.
Gold Plan: ₹3999.00 for 1 year.

Ratings:

Capterra: 4.4⭐/5
G2: 4.6⭐/5

User Review of Vyapar

👍	👎
“Product creation features by uploading excel and divide into proper categories is very helpful for starting the software, and easily move any business in vyapar software” *~Ajit*	“only work on single system, i think multi-system support missing “ *~Ajit*
“Vyapar is useful for small business owners or shopkeepers. If I have to list the pros, here are some pros: 1. GST-compliant invoicing 2. Budgeting 3. Financial statements that can be understood by owners easily. 4. Multiple user login and role-based access” ~Maheswara Swamy	“Conventional and not designed to suit market requirements. No compatibility” *~Suresh*
“We are moving to mobile-based computing. – Fresh & Friendly UI – ALL Taxes Covered – Easy to use – Inventory Controls – No need for installation – Remote Access – User Roles There is a lot to count. But experience the rest yourself” ~Nisarg	“Since it’s designed for small businesses, some of the features like inventory management or other complex accounting entries is not possible if your business is medium to large” ~Maheswara Swamy

8. MoonInvoice

Moon Invoice emerges as a premier accounting software, tailored specifically for businesses navigating GST complexities, providing a comprehensive suite of features to streamline billing and financial management.

Key Features:

Receivables and Payables: Manage contractor business finances effortlessly with our bookkeeping software. Generate invoices, track payments, and record purchase orders for streamlined operations.
Link bank account and credit card: Link bank accounts and credit cards with Moon Invoice for seamless reconciliation and focus on business.
Add transaction rule: Automate bank reconciliation with Moon Invoice’s transaction rules, simplifying construction accounting.
Precise GST Invoicing: Moon Invoice guarantees billing accuracy, leveraging automated calculations to prevent discrepancies and instill client confidence through precise invoicing.
Customizable Templates: Access ready-made templates for unlimited edits, ensuring quick and branded invoicing tailored to your business and client needs.
Expense Tracking: Capture expenses in real-time, simplifying inclusion into invoices for thorough billing and financial transparency.
Payment Processing: Offer multiple online payment methods to enhance transaction ease and security, contributing to expedited payment cycles.
Mobile Accessibility: Enjoy mobile-friendly capabilities for on-the-go invoicing, ensuring uninterrupted billing regardless of location.
Ongoing GST Management: Tailored for businesses handling GST, Moon Invoice supports interim GST billing, advance GST payments, and on-site printing of GST bills to meet unique GST-related needs.

Additional Features

Estimates, Expense tracking, Credit notes, Time tracking, Receipts, Purchase orders, POS billing

Pricing:

Silver Plan: ₹333.33/month, billed yearly.
Gold Plan: ₹666.58/month, billed yearly.

Ratings:

Capterra:4.4⭐/5
G2 :4.1⭐/5
Software Advice: 4.5⭐/5
Software Suggest: 5⭐/5

User Review of Moon Invoice

👍	👎
“MoonInvoice is super easy to use, helps me keep track of money coming in, and sends out nice invoices. I use it both on my phone and laptop.” *~Kristen F*	“After losing access to my prior invoicing program due to an OS upgrade which left it non-functional, I began investigating alternatives.” *~Matthew R.*
“It’s worth every penny, it’s so easy to keep everything organized I’ve used other apps before that didn’t fulfill my needs and this one is just great” *~Lileana M.*	“However, there have been several occasions where an “update” caused major glitching in the system, removing tabs, forcing autofill entries and making the program miserable to try to use” *~Sarah P.*
“We also like the maintaining of client lists and the ability to edit the information as our clients remain the same, but the contact person often changes. Our clients love the colorful invoices.” ~Mlanjeni N.	“The only complaint is that the cover letter when emailing the invoice can not be custom made for our company so that we don’t have to type a new one with every order.” *~Mlanjeni N.*

Source: Software Advice

9. Xero

Xero shines as an exceptional accounting software solution for inventory and invoicing management, providing businesses with a swift and effective method to handle their inventory and invoicing requirements.

Key Features:

Xero Accounting App: Accounting app for small businesses, enables you to run your business from anywhere.
Manage Fixed Assets: Easily track fixed assets and collaborate with your accountant to manage them effectively using Xero, ensuring your books are always up to date.
Accounting Dashboard: Monitor your finances daily with the accounting dashboard. Keep track of bank balances, invoices, bills, and more in one convenient location.
Analytics: Access analytics to track cash flow, financial health, and metrics. Consider upgrading to Analytics Plus for advanced features.
Invoicing Efficiency: Manage, automate, and send invoices conveniently, simplifying small business administration at your convenience.
Customization Options: Create online invoices and personalize them professionally by incorporating your logo, enhancing brand identity.
Payment Reminders: Automate reminders to eliminate the hassle of chasing payments, ensuring timely payments and improved cash flow.
Payment Flexibility: Accept credit/debit card payments, offering customers multiple payment options to encourage on-time payments and reduce follow-up efforts.
Bill Management: Stay on top of payment deadlines and maintain a comprehensive view of accounts payable and cash flow by promptly settling bills.
Multi-Currency Support: Conduct transactions in over 160 currencies, streamlining international accounting with real-time rates and instant conversions.
Mobile Invoicing: Seamlessly generate online invoices within the app and send them on the go, enabling efficient online invoicing from your phone anytime, anywhere.
Integrated App: Select from a wide range of apps, integrations, and financial services that seamlessly connect to Xero, enhancing the efficiency of running your business.

Additional Features

Inventory, Purchase order, Accounting, Integration, Mange fix assets, Accounting dashboard, Analytics, Track projects, Bank connections

Pricing

Free Plan: There is no free plan, just a free trial
Premium Plan: Pricing varies from $25 – $54/month depending on the number of users & features.

Ratings

Capterra: 4.4⭐/5
G2: 4.3⭐/5
Software Advice 4.5⭐/5
Get app 4.4⭐/5

User Review of Xero

👍	👎
“Once it is setup, it will change the way you work. With a streamlined and easy to use interface it is great for day to day business, and for checking reports too. Bank reconciliation and reminders are super important features.” *~Julian*	“The chart of accounts was a bit confusing but understand it now.” *~Julian*
“Linking it to my bank accounts and credit cards allowed it to pull in data to create some financials. This was very helpful early on in our start-up journey” *~Steve*	“It would pull data into our financials which after closer review was incorrect. This caused us to spend extra time modifying the financial reports.” *~Steve*
“really easy to use & can have a multiple tabs open at one time.” ~Nancy	“needs more keyboard shortcuts & better access controls for users.” *~Nancy*

10. Zoho

Zoho offers a comprehensive suite of productivity tools, including word processing, spreadsheets, project management, and customer relationship management.

With Zoho Invoice, users can choose between on-premise and cloud-based versions, catering to their deployment preferences. This versatile solution equips users with the essential tools for efficient accounting operations.

Key Features:

Reporting: Access real-time data for informed decisions with 50+ financial reports. Generate and file GST returns directly from Zoho Books.
Inventory and e-way bills: Zoho Books keeps your inventory up-to-date with every purchase or sale. Gain clear insights into your stock, identify fast-moving items, and effortlessly create e-Way bills for goods transfer.
Banking: Import statements, categorize transactions, and reconcile accounts quickly.
Invoicing Efficiency: Streamline the invoicing process with professional invoices, automated payment reminders, and seamless online card payment acceptance.
Recurring Invoices: Automate invoices for regular billing cycles, particularly useful for recurring services like ongoing travel arrangements.
Customizable Templates: Create personalized invoices with customizable templates, incorporating branding elements for a polished and professional appearance.
Online Payments: Support for various online payment options expedites payment collection for improved cash flow.
Expense Tracking: Efficiently manage and track expenses to maintain accurate financial records.
Client Portal: Foster collaboration and communication with a dedicated portal for clients to access and review invoices.
Time Tracking: Ideal for charging hourly rates or managing time-based services accurately.
Automated Reminders: Send timely payment reminders to facilitate efficient follow-ups and settlements.
Multi-Currency Support: Enable seamless transactions with international clients by supporting multiple currencies.
Mobile Accessibility: Access billing information and manage invoices on the go, essential for mobile accounting professionals.
Integration with Other Apps: Enhance efficiency by integrating Zoho Invoice with other accounting and productivity apps for streamlined processes.

User Review of Zoho

👍	👎
“Easy to set up and use. It helped me a lot keeping close to my clients and growing the business” ~Habe	“I had some bugs but they were resolved fast. It would be bad to speak about them because they are no more” ~Habe
“Great tool to track records and handling the software is easy, everything is in front of you. Just a small sense is enough to use it properly” ~Jithin	“Chat with internal and multiple sheets, notepads, contact management” ~Jithin
“Functionality: Mail merges, email templates, customization, reporting” ~Julieet	“Not knowing how to customize my invoices to reflect my business address and adding the logo after sending the invoice.” ~Shernalla

Source: Software Advice

Additional Features

CRM, Inventory management, Lead management, sales automation, pipeline tracking, Accounting, invoicing, expense tracking, Task management, Gantt charts, time tracking, Email hosting, calendar, contacts, task management

Pricing: Free

Rating:

G2 4.1⭐/5
Capterra 4.3⭐/5
Get app 4.3⭐/5
Software Advice 4.5⭐/5

Key Features To Consider:

When selecting accounting software, several key features are essential to consider. These features ensure that the software meets your business needs and helps streamline financial processes effectively. Some key features to consider include:

1. Invoicing and Billing: The software should offer robust invoicing capabilities, allowing you to create, customize, and send professional invoices to clients or customers.

2. Expense Tracking: It should provide tools for tracking and categorizing expenses, including the ability to capture receipts and reconcile transactions.

3. Financial Reporting: Look for software that offers comprehensive financial reporting capabilities, including profit and loss statements, balance sheets, cash flow statements, and customizable reports to analyze your business’s financial health.

4. Tax Management: The software should support tax compliance by helping you calculate and track taxes, generate tax reports, and facilitate tax filings.

5. Bank Reconciliation: Ensure the software integrates with your bank accounts to streamline bank reconciliation processes, matching transactions and ensuring accuracy.

6. Multi-User Access: If you have a team, opt for software that allows multiple users to access the system simultaneously, with different permission levels to control access to sensitive financial data.

7. Cloud-Based Accessibility: Consider cloud-based accounting software for flexibility and accessibility, allowing you to access your financial data from anywhere, anytime, and on any device with an internet connection.

8. Scalability: Choose software that can scale with your business as it grows, offering additional features and capabilities to accommodate increasing needs.

9. Integration with Other Tools: Look for software that integrates seamlessly with other business tools you use, such as CRM software, payroll systems, or project management tools, to streamline workflows and data sharing.

10. Customer Support and Training: Evaluate the availability of customer support and training resources offered by the software provider to ensure you receive assistance when needed and can make the most out of the software’s features.

Considering these key features will help you select an accounting software solution that aligns with your business requirements and enables efficient financial management.

Conclusion:

In summary, accounting software has become essential for businesses, offering efficient solutions for managing finances and streamlining invoicing processes. With features like invoicing, expense tracking, financial reporting, and tax management, these tools help businesses save time, improve accuracy, and make informed decisions. By leveraging cloud-based accessibility, scalability, and integration capabilities, businesses can effectively manage their finances and drive growth in today’s dynamic business landscape.

Got any doubts related to Accounting? Read our comprehensive article on All Your Accounting FAQs Answered to solve all your confusion.