Top 5 Software Programs For Small Business Accounting

Keep these accounting tools in mind for small businesses


Small businesses used to struggle to find accounting software products that were affordable and easy to use. Intuit’s QuickBooks was the first to provide software tailored to the needs of small businesses and remains a strong contender, but the variety of accounting software products now available means that businesses can choose one that most closely matches their particular needs and budget. If you are looking for a quickbooks alternative, the following all offer cloud-based services with mobile access on both iPhone and Android:


Xero offers monthly subscriptions with daily backups at secure locations, SSL encryption, integration with iPhone, Android, and over 500 other business apps, and 24/7 customer support. The standard package (around $30/month) provides payroll services for up to 5 employees, and their Premium package (around $70/month) includes multiple currencies. In the US, Xero is able to do payroll taxes for 24 supported states. PCmag found it one of the more affordable options for small businesses and reasonably user-friendly, with better inventory capacity than others. rated Xero the best for Mac users in their ‘ Best Accounting Software for Small Business 2017’.

Best for: Integration with other business apps.

Worst for: Time tracking (not available).

Zoho Books

Zoho’s accounting app, Zoho Books, is customizable and integrates with CRM tools. rated Zoho Invoice as one of the top billing and invoicing applications by user reviews, and in his blog on Capterra Finance Software Blog, Andrew Marder listed it as the no. 1 choice for small business accounting. considered it the best for businesses with fewer than 10 employees. The standard option (around $15/month) allows for three users and around 500 contacts and will support multiple currencies, and it provides time tracking and inventory. However, it does not provide payroll support.

Best for: Good customer support.

Worst for: Payroll (not provided).


Wave offers free invoicing, accounting, and receipt scanning, making it the most affordable option if you do not use the payroll function. It does charge for basic credit card transactions, and payroll is offered at a rate of $15/month plus $4 for each employee. Wave recently added an automatic recurring billing option to its invoicing. Their Help Center offers videos and articles on how to manage various functions, including payroll in the US and Canada. It does not have an inventory option. Wave was rated excellent by PCmag, and called it the best free accounting software for small business.

Best for: price (free basic services) and ease of use.

Worst for: paid customer support.


Rated the best mobile accounting app for small business by, FreshBooks rebuilt its online invoicing application to make it more user-friendly. New customers will be directed to the new version, and old users will have the option to move or continue to use FreshBooks Classic. FreshBooks offers time tracking, expense tracking, faster credit card payments online, and some reporting functionality. It does not provide inventory tracking or double-entry accounting. Pricing varies by number of users and clients, with their standard Plus package supporting 50 active clients at $25/month.

Best for: Improved user interface with context-sensitive settings.

Worst for: does not support double-entry accounting, and new version has lost some functions from Classic.


A recent addition to the US market from Denmark, Billy was rated second on Capterra’s Finance Software Blog for its invoicing. Invoices can be customized with the user’s logo and branding, and all packages support multi-currency businesses and double-entry accounting. Their standard package at $15/month includes recurring invoices, quotes, and estimates, while their most expensive option at $19/month includes credit card payment. Billy offer their packages at discounted rates when users pay for the entire year.

Best for: In-app live invoicing support.

Worst for: Payroll (not offered).


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