Choosing Business Accounting Software: Which One Is Right For You?

Apr 23, 2021 | Accounting

Making Business decision

An accounting software streamlines your small business’s financial operations and provides much-needed support with financial planning, real-time financial analysis, and day-to-day operational tasks, like time tracking and payroll.

The 4Corner team is well-versed in working side-by-side with our clients’ existing business accounting software or helping companies choose a platform to help them reach financial goals. If you’re not sure which software is right for your business, read what our accounting software consultants have to say about some of the most popular platforms on the market.

Learn More: Get More Out Of Your Accounting Software

Freshbooks

freshbooks logo

Freshbooks offers an intuitive interface that supports estimates, invoices, expenses, time tracking, and projects. The flexible software works well for freelancers, self-employed professionals, businesses with contractors, and businesses with employees. The platform is user-friendly and integrates multiple apps, including Shopify, Squarespace, Zoom, Dropbox, and Hubspot.

Key Features:

  • Invoicing
  • Projects
  • Time tracking
  • Mobile
  • Payments
  • Expenses
  • Accounting
  • Estimates
  • Reports

Business Size Supported: Small-Midsize

Pricing: $4.50-$15 a month

Quickbooks

quickbooks logo

Quickbooks offers various plans for small businesses, mid-size businesses, and freelancers. The available features change depending on the type of plan you purchase, but all plans offer income and expenses, invoice and payment, reports, tax deductions, and mileage tracking. Quickbooks offers comprehensive payroll support, in-depth contact records and supports hundreds of add-ons and integrations.

Key Features:

  • Income and expenses
  • Invoice and payment
  • Reports
  • Tax deduction
  • Mileage tracking

Small-Midsize Business Features:

  • Bill Management
  • Business funding
  • Cash flow
  • Contractors
  • Estimates
  • Inventory
  • Live bookkeeping
  • Multi-channel commerce
  • Payroll
  • Project profitability
  • Time tracking

Business Size Supported: Freelance, Small-Midsize

Pricing: $15-$150 a month

Sage One

 

 

 

 

Sage One was designed specifically for small business accounting. With outstanding customer support and high-quality setup support, users can enter many different types of files and data to the platform, reconcile with thousands of banks, and generate multiple reports and records. However, Sage One is missing several important features, such as integrated payroll and time tracking.

Key Features:

  • Invoicing
  • Payments
  • Track expenses
  • Reporting
  • Bank connections
  • Snap & post receipts
  • Billing
  • Accounts receivable
  • Accounts payable
  • Stock management
  • Invoice templates

Business Size Supported: Small

Pricing: $10-$25 a month

Xero

xero logo

Xero offers most features small businesses accounting requires, including sales, purchases, payroll, and inventory. The platform integrates with other programs, allowing you to import CVS, TXT, and Excel files with ease. Xero allows users to manage fixed assets, which sets it apart from other competitors on this list. However, businesses looking for exceptional usability, mobile access, reporting, and expense tracking would benefit from choosing a different platform.

Key Features:

  • Bill pay
  • Payments & expenses
  • Project racking
  • Payroll (integrates with Gusto)
  • Bank reconciliation
  • Inventory
  • Multi-currency accounting
  • Purchase orders
  • Quotes
  • Sales tax

Business Size Supported: Small

Pricing: $11-$62 a month

 

ZoHo

zoho logo

ZoHo Books offers an affordable price point, cloud-based business accounting, and a great user experience. With multiple payment gateways and generous support options, ZoHo Books is a strong choice for small businesses. However, payroll support is very limited, making it a poor choice for companies with many employees.

Key Features:

  • Invoicing
  • Estimates
  • Client portal
  • Expenses
  • Bills
  • Banking
  • Projects
  • Inventory
  • Sales & purchase orders
  • Online payments
  • Vendor portal

Business Size Supported: Small

Pricing: $9-$29/month

4Corner’s team of tax and accounting professionals can help you decide what software is right for you, provide setup assistance, and train you and your employees on how to best use your platform. To learn more about how we can support your small business, schedule your free consultation today!

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