Accounting software (also called Bookkeeping software) helps users in the key process of management and automation of an organization’s financial functions and transactions with included modules like accounts payable, accounts receivable, payroll, billing and general ledger. Integrated applications for accounting programs also allow for comprehensive, real-time analysis of an organization’s financial status including cash flow and expense management.
Benefits and key features of an Accounting Software
- Accounts payable (AP)
- Accounts receivable (AR)
- Bank reconciliation
- Financial reporting
- General ledger
- Billing and invoicing
- Expense tracking
- Project accounting
Today’s article will talk about the best Accounting Softwares in 2022. The order of the article is decided on the basis of the research. Let’s get right to it!
1. Quickbooks – Power your business with Quickbooks Online GST accounting software.
About Quickbooks
QuickBooks is accounting software for small businesses. Manage all your finances with either our licensed or online version. Instant access to customer, vendor and employee information. Free support and upgrades with online version. Comes with a 30 day free trial.
Quickbooks Features
- Get a real-time view of your cash flow.
- Stay up to date, anytime, anywhere.
- Accounts Receivable
- Bank Reconciliation
- Billing & Invoicing
- CPA Firms
- Expense Tracking
- Fixed Asset Management
- Nonprofits
- Payroll Management
- Project Accounting
- Purchase Orders
Quickbooks Pricing plans
- For small businesses – 400 Rs/month
- For accountants – 223 Rs/month
Quickbooks Video Support – https://www.youtube.com/channel/UCvUIUwfCEpkN56sYfE850Dw
2. Workday Cloud Financial Management – Cloud ERP that’s built for where the world is going.
Workday Financial Management Homepage
About Workday Financial Management
Workday Financial Management is a single cloud based solution designed for financial planning, analysis and transactions. By combining transactions, accounting, analytics, and always on audit in one system, Workday empowers decision-makers with in-the-moment and on-the-go financial and business insight they can act upon and plan for what’s next.
Workday Financial Management Features
- Quickly gain a complete and accurate picture of your business.
- Equip leaders with relevant, contextual financial insights on any device.
- Embrace organizational, process, and reporting changes without business disruption.
- Use one version of a single cloud ERP system across your entire organization.
- Better understand the numbers with actionable, dimensional reports.
- Make timely decisions with in-memory accounting and analytics.
- Manage all activity with embedded, flexible business processes.
- Configure changes and immediately see them reflected across Workday.
- Support global operations with multi entity, multibook, and multicurrency capabilities.
Workday Financial Management Video Support – https://www.youtube.com/user/workdayvideo
3. Accounting by Wave – Award-winning financial software designed for entrepreneurs.
About Wave
Wave offers free, real double-entry accounting for small businesses. As a cloud-based software, Wave allows access to data from anywhere, adds unlimited collaborators and works on all businesses from a single login. Wave eliminates data-entry and puts the financial reports one needs at fingertips, allowing users to spend more time doing what they love. The accounting process is also seamlessly integrated with invoicing, receipt scanning, payment processing and payroll.
Wave Accounting Features
- Accounts Receivable
- Bank Reconciliation
- Billing & Invoicing
- CPA Firms
- Expense Tracking
- Fixed Asset Management
- Fund Accounting
- Government
- Nonprofits
- Payroll Management
- Project Accounting
- Purchase Orders
- Tax Management
Wave Accounting Pricing plans
- The software is absolutely free to use.
Wave Accounting Video Support – https://www.youtube.com/user/WaveAccounting
4. Freshbooks – All-In-One Small Business Invoicing and Accounting Solution.
About Freshbooks
FreshBooks Accounting ensures business decisions are based on actual business data and insights. Set aside enough for tax time, learn the costs of running a business, find out if there is money to hire and confidently forecast earnings.
Freshbooks Features
- Easy Invoicing
- Organize expenses effortlessly
- Insightful Time Tracking
- Seamlessly Collaborate on Projects
- Easy To Understand Reports
- Work Anywhere with the FreshBooks Mobile App
- Easy-To-Use Double-Entry Accounting
Freshbooks Pricing
- Starting Price – $15.00/month
- Annual plans receive 10% discount
- Free Trial available as well
Freshbooks Video Support – https://www.youtube.com/user/freshbooks
5. Xero – Xero is online accounting software for your small business.
About Xero
With Xero, business finances and cash flow are updated in real time. Features include, transaction import from bank accounts, unlimited user logins. The software integrates with 3rd-party business applications and supports multiple currencies. Data is accessible through a single ledger, allowing accountants and clients to collaborate around finances.
Xero Features
- Get a real-time view of your cash flow.
- Run your business on the go with the xero mobile app.
- Get paid faster with online invoicing.
- Multi-currency
- 800+ third-party apps
- Attach files to data
- Create purchase orders
- Claim those expenses
- Pay bills
Xero Pricing plans
- Starter – 20$/month.
- Standard – 30$/month
- Premium – 40$/month
Xero Video Support – https://www.youtube.com/user/XeroOnlineAccounting
6. FreeAgent – Accounting software for small businesses.
About FreeAgent
FreeAgent is a cloud accounting software that brings together invoicing, time tracking, expenses, MTD-compliant VAT, Self Assessment and more. Their in-built Tax Timeline, a calendar of all tax liabilities ensures one will never miss a tax deadline again. FreeAgent is HMRC-compliant and is committed to protecting personal and financial data, using multiple layers of security.
FreeAgent Features
- Accounts Receivable
- Bank Reconciliation
- Billing & Invoicing
- Expense Tracking
- Fixed Asset Management
- Payroll Management
- Project Accounting
- Purchase Orders
- Tax Management
FreeAgent Pricing
- Starting Price – $10.00/month
- Starting at £19/month for UK Sole Traders. Currently 50% off for 6 months.
- Free Trial is available as well
FreeAgent Video Support – https://www.youtube.com/channel/UC2dj84bDOHwfrmkLaMAF2Kg
7. GnuCash – Free Accounting software.
About GnuCash
GnuCash is best suited for personal and small-business financial-accounting software. The software is a free financial accounting software for tracking bank accounts, income and expenses for small businesses.
GnuCash Features
- Double-Entry Accounting
- Stock/Bond/Mutual Fund Accounts
- Small-Business Accounting
- Reports, Graphs
- QIF/OFX/HBCI Import, Transaction Matching
- Scheduled Transactions
- Financial Calculations
GnuCash Pricing plans
- The software is absolutely free to use.
GnuCash Video Support – https://www.youtube.com/watch?v=0ZqxJeHDVmU&list=PLAnK2UF8NG0OzFPkxYFg91BS9l63aXop8
8. Zoho Books – Online GST accounting software, built for your business.
About Zoho Books
Zoho Books is an online accounting software that allows users to easily manage the money flowing in and out of business. Manage customers and invoices, while keeping expenses in check. Record, monitor and reconcile bank accounts and transactions and collaborate with accountants in real-time. Most importantly, Zoho Books helps make better, more informed decisions and helps in staying on top of business.
Zoho Books Features
- Accounts Receivable
- Bank Reconciliation
- Billing & Invoicing
- Expense Tracking
- Project Accounting
- Purchase Orders
- Invoicing
- Customizable Invoice Templates
- Online payments
- Transaction approval
- Recurring expenses
- Vendor credits
- Landed cost
- Inventory tracking
Zoho Books Video Support – https://www.youtube.com/channel/UC12OzqYu2z-D6mVJCTjQvwg
9. Sage Intacct – Accounting software that lets you do more and do it better.
About Sage Intacct
Sage Intacct helps CFOs access integrated management and financial reports across their business entities in minutes not days to grow and drive their business. Sage Intacct is a financial management product that allows growing mid-sized business to go further, faster with the core financials one needs to automate important processes, reduce reliance on spreadsheets and give greater visibility into business performance.
Sage Intacct Solution Features
- Accounts Receivable
- Bank Reconciliation
- Billing & Invoicing
- CPA Firms
- Expense Tracking
- Fixed Asset Management
- Fund Accounting
- Nonprofits
- Project Accounting
- Purchase Orders
- Tax Management
Sage Intacct Video Support – https://www.youtube.com/user/intacctcorporation
10. Odoo – Amazing employees deserve amazing software.
About odoo
Odoo is a fully-integrated, customizable and open-source suite of business applications. A majority of the business needs such as CRM, Sales, Project, Manufacturing, Inventory and Accounting are met through this all-in-one software solution. Odoo is designed to meet the needs of companies regardless of size and budget.
Odoo Features
- BOOST YOUR SALES
- CRM
- POS
- Sales
- INTEGRATE YOUR SERVICES
- Project
- Timesheet
- Helpdesk
- STREAMLINE YOUR OPERATIONS
- Inventory
- MRP
- Purchase
- BUILD STUNNING WEBSITES
- Website Builder
- eCommerce
- MANAGE YOUR FINANCES
- Invoicing
- Accounting
- AMPLIFY YOUR MARKETING
- Email Marketing
- Marketing Automation
- CUSTOMIZE & DEVELOP
- Studio
- odoo.sh
Odoo Video Support – https://www.youtube.com/user/OpenERPonline
11. Manager – Looking for accounting software?
About Manager
Manager is a fully-featured, free Accounting Software for small businesses. Manager is available in many languages and is constantly being updated and improved, Manager will take small business to the next level. Easy to use with full guides & a big community forum of other Manager users ready to help.
Manager Features
- General ledger
- Cash management
- Bank reconciliation
- Expense claims
- Accounts receivable
- Accounts payable
- Estimates & quotes
- Purchase orders
- Billing & invoicing
- Credit notes
- Delivery notes
- Sales orders
- Stock & inventory
- Time & service billing
- Billable expenses
- Fixed asset management
- Capital accounts
- Profit & loss statement
- Balance sheet
- Statement of changes in equity
- Trial balance
- VAT, GST or sales tax
- Multi-currency
- Custom fields
- Customizable invoices
- Chart of accounts
Manager Pricing
- Silver – $49 / month
- Gold – $149 / month
- Platinum – $249 / month
- Free Trial is also available
Manager Pricing plans
The software is absolutely free to use.
Manager Video Support – https://www.youtube.com/channel/UCPK8DK8z1xdwEWPseJiX9tg
12. NetSuite – The #1 Cloud ERP.
About NetSuite
NetSuite is the first and last business management solution a business ever requires. NetSuite provides a suite of cloud-based applications, which includes financials / Enterprise Resource Planning (ERP), HR, professional services automation and omnichannel commerce.
NetSuite Features
- Accounts Receivable
- Billing & Invoicing
- Expense Tracking
- Fixed Asset Management
- Fund Accounting
- Payroll Management
- Project Accounting
- Purchase Orders
- Tax Management
NetSuite Video Support – https://www.youtube.com/user/NetSuite
13. botkeeper – Bookkeeping services for evolution.
About botkeeper
Botkeeper provides automated bookkeeping support to businesses by using a powerful combination of skilled accountants alongside machine learning and artificial intelligence. The clientele receive 24/7 accounting and support as well as incredible insight into their financials with beautiful dashboards and unlimited reporting.
botkeeper Features
- Security and consistency
- Cost Savings
- Mobile Ready
- Unlimited Support
- Designed to Delight
- Seamless Integration
botkeeper Pricing
- Starting Price – $99.00/month
- Botkeeper pricing is based on the number of transactions per month.
botkeeper Video Support – https://www.youtube.com/channel/UCOGazHB2J5-KYoIRJaHtDNA
14. KGMP Spark – Online accounting that lets you focus on your business.
About KGMP Spark
KPMG Spark is an online bookkeeping service designed for small business owners. They pair users with a dedicated bookkeeper and their software so they can handle books for customers. Securely send data to the bookkeeping team automatically by connecting bank accounts, credit cards and third party integrations to the app. Moving forward, the bookkeeping team will ensure financials are up to date, payroll is delivered, and taxes are filed.
KGMP Spark Features
- Online Accounting
- Payroll
- Tax Preparation
- Dedicated Point Person
- Expenses
- Invoicing & Payments
KGMP Video Support – https://www.youtube.com/user/KPMGMediaChannel
Wrapping it up!
Hope the article helps you in selecting the Accounting Software that’s best for your corporation. Analyze your requirements and select the platform which best suits your needs. Submit a query to this page for other Accounting software that didn’t make the list.
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