8 Popular Accounting Software for Small Businesses to look at in 2022

Accounting software plays a major role in every small or big business. It helps you to keep a record of your financial transactions and also to manage them. Today, we shall highlight some of the best available tools for small to moderate businesses, as they are in large numbers in almost every country. Below is the list of top-rated free and paid such tools:

Sage 50cloud Accounting

It is one of the best such accounting software when it comes to small to medium business types, let us have a glimpse of its attributes:

1. It generates all the invoices related to your financial transactions so that you can make and receive payments in a hassle-free manner.
2. Saga helps you to manage all your money flow, taxes, payments, etc related to your products or services.
3. It also acts as a virtual HR to a good extent and manages your small family of employees, workers, or co-associates.
4. Saga aids you in various businesses making decisions for the further growth of your business.
5. It is a paid tool.
6. It is compatible only with the Microsoft platform.
7. Link – sage.com/sage-50cloud

 

Zoho Books

One more worthy contender and famous accounting software for small businesses- ‘Zoho Books’ is here. Let us have its overview:

1. It creates all your business invoices for your small firm.
2. All your customers who have bought your product or service can view all their transaction history in one place.
3. It manages all your bills and payments.
4. You can integrate your banking account associated with your firm also here and then perform your banking activities with ease.
5. It lets you keep a sharp eye on all your ongoing, pending, and completed projects and also guides for your upcoming projects.
6. It manages your GST, taxes, etc.
7. You can make and receive online payments with ease.
8. It is available in both free and paid variants.
9. Link zoho.com/in/books

 

Fresh books

Fresh books, is one of the most popular account management software and you can try it out for your small or medium business, let me highlight some of its salient features:

1. The interface is quite simple and user-friendly.
2. It has separate dedicated suites for four different categories of businesses, namely – ‘Self-Employed Professionals’, ‘Businesses with contractors’, ‘Freelancers’, and ‘Businesses with employees’.
3. It generates invoices, manages your expenses, keeps you updated on all your ongoing projects, and much more.
4. It prepares timely reports for your business.
5. It is available free for a trial period of 30 days and afterward, you will have to purchase it.
6. Platforms like – Windows, iOS, etc are supported here.
7. Link – freshbooks.com

 

Xero

One of the top-rated accounting software for accountants and bookkeepers and without wasting any time let us quickly go through its characteristics:

1. It aids you to have an eye on all your spending and upcoming bills.
2. It manages all your costs and expenses and prepares an analysis of the same.
3. You can also manage your banking activities right from this tool.
4. It accepts and makes all the necessary payments related to your business.
5. It generates all your business-related invoices.
6. It manages your business tax.
7. It is a paid tool.
8. Multiple platforms are supported here.
9. Link – xero.com

 

Intuit QuickBooks Online

One of the most trusted online cloud-based accounting tools for a long time. Let’s your accounting data organized on the cloud, you can track sales, create and send invoices, and more… Let us go through some of its salient features:

1. Cloud computing lets you access your account from anywhere and from any device.
2. It generates all your business invoices.
3. It lets you access and performs banking-related activities of your business too.
4. You can access the progress of your business with timely reports.
5. It manages your money, bills, and payments.
6. You get the guidance to further enhance the performance of your business.
7. It is free for a thirty days trial after which you will have to purchase it.
8. Link – QuickBooks

 

Wave

Wave is another trending accounting software that helps users to bring them a complete picture of the financial setup. It offers an interactive Dashboard with trending tools to manage the accounting activities of your small business is here. Let us figure it out:

1. The interface is simple and user-friendly.
2. It tries its best to make accounting activities as simple as possible for you and your business with the technology and features that it comes loaded with.
3. It manages all your payments, bills, invoices, business tax. and so on.
4. It is a free tool.
5. Link – waveapps.com

 

Sunrise

With a free plan, Sunrise offers a helping hand to startups in managing their revenue and other financial expenses. However, they also offered Paid plans preferred by a lot of small-scale businessmen to self-employed people out there. Let us have a glimpse of its attributes:

1. It creates invoices for your business.
2. It manages all your payments and bills and also supports several payment options.
3. It prepares a sharp analysis of your entire business and you can view the report.
4. It tracks all your expenses and earnings.
5.  It is available in both free and paid variants.
6. Link – Sunrise App

 

Kashoo

Kasho is easy to use and simple accounting software for any small business. It also offers a free plan to send Invoices, accept payments, send estimates, track income, and track clients. This can be a good accounting tool for all you guys, let me showcase some of its characteristics for you all:

1. It has separate suites for categories like – ‘Truly Small Business Owners’, ‘Small Business Owners’, etc.
2. Self-employed people like – freelancers, digital professionals, and much more are going to find this tool quite useful.
3. It prepares all your business invoices timely for hassle-free payment transactions.
4. You get the history of all your transactions in the database.
5. It is available in both paid and free variants.
6. Link – kashoo.com

 

FAQs

What is meant by accounting software?

Accounting software lets you smoothly run your business by helping you out in several ways, like – preparing invoices, managing your bills and payments, guiding you with your projects, helping the firm to grow further financially, and so on.

 

What are the examples of accounting software for small businesses?

Fresh Books, Xero, Wave, Sunrise, etc are some of the examples of accounting software for small businesses.

 

Are all the above-mentioned software free?

No, some are paid while some are free, and some of them are hybrid types, both free and paid. In such software, in the free variant, you get some of the common features along with some additional features, while in the paid variant, you get almost all the premium and unique features along with the basic features that the tool had to offer.

 

Which is the best accounting software for my small business?

It varies from individual to individual and I hope that after going through this article, you might have found an answer to this question.

 

Is it really necessary for me to have accounting software?

No, not really, but it definitely helps you with your business and saves your time and in turn, you can increase your revenue and if you use this tool in the best possible way then you can get a huge increase in your revenue and profits.