One of the most challenging tasks for small business owners is keeping track of their finances. Although online accounting software isn’t a silver bullet for everyone, it can help them make better decisions and improve their financial management. A sound financial management system can help you make informed decisions and keep track of your expenses and income.

 

We’ve tested and ranked the top online accounting software for small businesses to find out which ones are ideal for each type of business. For instance, some of these are good for small businesses with only one or two employees, such as sole proprietors and freelancers. Others are good for larger companies, though they might not be suitable for startups or less complex organizations.

 

Intuit QuickBooks Online

For many years now, QuickBooks Online has been the best choice for small businesses looking for a financial management system. It features a highly effective user experience and comes with several add-on apps. It also has better mobile access than its competitors.

 

Since it’s expensive, QuickBooks Online is the best choice for small businesses with a technology budget. It’s also easy to use for an inexperienced bookkeeper, but it has plenty of features ideal for more demanding users.

 

FreshBooks

The good looks and simplicity of FreshBooks are deceiving. The platform is a full-featured accounting website that has an exceptional user experience. It’s one of the first choices for small businesses that need a simple and effective financial management system. Although it’s easy for a novice bookkeeper, it can support a more extensive organization’s elements.

 

Although it’s ideal for small businesses with only a couple of employees, FreshBooks can also handle more complex tasks. For instance, it can help companies manage their money by sending and receiving invoices, monitoring their financial accounts, and tracking expenses and income.

 

Sage 50cloud Accounting

One of the most popular accounting software for small businesses is Sage 50cloud Accounting, designed for desktop use. It comes with various features and is more comprehensive than other programs in this group. It also has built-in online connections that allow remote workers to access the software.

 

Unfortunately, despite its powerful features, Sage 50cloud Accounting did not receive a higher rating due to various factors. One of these is its dated user experience, which prevents it from being more effective.

 

Sage 50cloud Accounting is ideal for small businesses that need a robust inventory-tracking solution. It can also be used by companies not opposed to desktop software and requiring more sophisticated features. Its customizable features and data capacity make it an ideal choice for organizations that need to keep track of multiple data points.