Top Accounting Software Comparison
By Jordan Patel | Published: 2025-04-16 | Category: Accounting Software
About Accounting Software
Accounting software helps businesses manage financial transactions, track income and expenses, generate financial reports, and streamline bookkeeping tasks. It simplifies processes like invoicing, payroll, and tax preparation.
Scoring Criteria
- → Ease of Use
- → Features
- → Integrations
- → Customer Support
- → Value for Money
The Best Accounting Software
#7
NetSuite ERP
By Oracle NetSuite
A comprehensive cloud ERP (Enterprise Resource Planning) system including robust financial management capabilities for mid-sized to enterprise businesses.
Platforms & Use Cases
Platforms: Web, iOS, Android
Best For: Medium Business, Enterprise, Companies needing integrated ERP
Key Features
- ✓Financial Management: Advanced accounting, billing, revenue recognition, financial planning.
- ✓Order Management: End-to-end order processing and fulfillment.
- ✓Supply Chain Management: Inventory, warehouse, and logistics management.
- ✓CRM: Integrated customer relationship management features.
- ✓Global Business Management: Multi-subsidiary, multi-currency, multi-language support.
Scorecard (Overall: 7.8 / 10.0)
Pricing
Subscription
$999.00 / Monthly (Estimate - Custom Quote)
- Core ERP financials
- Customizable modules (CRM, SCM, etc.)
- Advanced reporting & analytics
Limitations: Requires custom quote, Complex implementation
Pros
- + Extremely comprehensive feature set (beyond just accounting)
- + Highly customizable and scalable
- + Unified platform for various business functions
- + Strong reporting and analytics
Cons
- - Very expensive
- - Complex setup and steep learning curve
- - Overkill for small businesses
- - Implementation can be lengthy
Verdict
"A powerful ERP solution for larger businesses needing an integrated system for financials, operations, and CRM, but too complex and costly for typical small business use."
#6
Sage Accounting
By Sage Group plc
Cloud-based accounting software designed for small businesses, offering core accounting features and inventory management.
Platforms & Use Cases
Platforms: Web, iOS, Android
Best For: Small Business, Sole Proprietors
Key Features
- ✓Invoicing: Create, send, and track invoices.
- ✓Expense Tracking: Connect bank feeds, manage expenses.
- ✓Cash Flow Management: Forecast cash flow based on invoices and bills.
- ✓Inventory: Basic inventory tracking capabilities.
- ✓Reporting: Generate essential financial reports.
Scorecard (Overall: 6.8 / 10.0)
Pricing
Sage Accounting Start
$10.00 / Monthly
- Basic Invoicing
- Expense Tracking
- Bank Reconciliation
Limitations: Single user, Basic features
Sage Accounting
$25.00 / Monthly
- Unlimited Users
- Quotes & Estimates
- Cash Flow Forecast
- Purchase Invoices
- Inventory
Limitations: Inventory features are basic
Pros
- + Affordable entry point
- + Core accounting features included
- + Unlimited users in the main plan
Cons
- - Fewer integrations than competitors
- - Interface can be less intuitive
- - Inventory management is basic
- - Mobile app functionality is limited
Verdict
"A budget-friendly option for small businesses needing core accounting functions, but less feature-rich and polished than top competitors."
#5
Zoho Books
By Zoho Corporation
Part of the Zoho suite, this is a feature-rich online accounting software suitable for small to medium-sized businesses.
Platforms & Use Cases
Platforms: Web, iOS, Android, Windows, macOS
Best For: Small Business, Medium Business, Businesses using Zoho ecosystem
Key Features
- ✓End-to-End Accounting: Manage invoices, expenses, bank reconciliation, inventory, reporting.
- ✓Automation: Automate workflows like payment reminders and recurring invoices.
- ✓Client Portal: Allow clients to view estimates, invoices, and make payments.
- ✓Inventory Management: Track stock levels, set reorder points.
- ✓Project Tracking: Track time and expenses for projects, invoice clients accordingly.
- ✓Integrations: Seamless integration with other Zoho apps and third-party services.
Scorecard (Overall: 8.4 / 10.0)
Pricing
Free
Contact Vendor
- 1 User
- Basic Invoicing
- Expense Tracking
- Client Portal
Limitations: < $50K Annual Revenue, Limited features
Standard
$15.00 / Monthly (Annual Billing)
- 3 Users
- 5000 Invoices
- Recurring Expenses
- Project Tracking
Limitations: Invoice limits
Professional
$40.00 / Monthly (Annual Billing)
- 5 Users
- Unlimited Invoices
- Inventory Management
- Vendor Portal
Premium
$60.00 / Monthly (Annual Billing)
- 10 Users
- Custom Domain
- Budgeting
- Vendor Portal
Pros
- + Excellent value for money
- + Comprehensive feature set
- + Strong mobile apps
- + Integrates well within Zoho ecosystem
- + Good automation capabilities
Cons
- - User interface can feel busy
- - Payroll integration might require specific partners
- - Free plan is very limited
Verdict
"A powerful and affordable accounting solution, especially compelling for businesses already invested or planning to invest in the Zoho suite."
#4
Wave
By Wave Financial Inc.
Free accounting software for freelancers and small businesses, offering core accounting, invoicing, and receipt scanning.
Platforms & Use Cases
Platforms: Web, iOS, Android
Best For: Freelancers, Sole Proprietors, Very Small Businesses
Key Features
- ✓Accounting: Double-entry accounting system, unlimited income/expense tracking.
- ✓Invoicing: Create and send unlimited customizable invoices.
- ✓Receipt Scanning: Mobile app for capturing and digitizing receipts.
- ✓Reporting: Basic financial reports (P&L, Balance Sheet, Sales Tax).
- ✓Multiple Businesses: Manage multiple businesses under one account.
Scorecard (Overall: 7.2 / 10.0)
Pricing
Accounting & Invoicing
Contact Vendor
- Unlimited Invoicing
- Unlimited Expense Tracking
- Basic Reporting
- Receipt Scanning
Limitations: Limited integrations, No phone support for free plan
Payments
$0.03 / Per Transaction
- Accept online payments (CC processing fee applies)
Limitations: Transaction fees
Payroll
$20.00 / Monthly + per employee fee
- Full-service payroll (select states/provinces)
Limitations: Geographic availability
Pros
- + Core accounting and invoicing are free
- + Easy to use interface
- + Unlimited invoices and users
- + Good mobile app for receipts
Cons
- - Limited features compared to paid options
- - Few integrations
- - Payroll and payments cost extra
- - Customer support is limited for free users
Verdict
"An excellent choice for freelancers and very small businesses needing basic accounting and invoicing at no cost, but lacks advanced features and support."
#3
FreshBooks
By FreshBooks
Accounting software primarily designed for freelancers and small service-based businesses, excelling in invoicing and time tracking.
Platforms & Use Cases
Platforms: Web, iOS, Android
Best For: Freelancers, Self-Employed, Small Service-Based Businesses
Key Features
- ✓Invoicing: Highly customizable invoices, recurring invoices, payment reminders.
- ✓Time Tracking: Track billable hours easily, add to invoices.
- ✓Expense Management: Track expenses, capture receipts via mobile app.
- ✓Project Management: Manage projects, collaborate with clients.
- ✓Proposals: Create professional proposals for clients.
- ✓Client Portal: Clients can view invoices, make payments, and comment.
Scorecard (Overall: 8.0 / 10.0)
Pricing
Lite
$17.00 / Monthly
- Unlimited Invoices (5 Billable Clients)
- Unlimited Expense Tracking
- Time Tracking
Limitations: 5 Billable Clients
Plus
$30.00 / Monthly
- Unlimited Invoices (50 Billable Clients)
- Recurring Expenses
- Client Retainers
- Proposals
Limitations: 50 Billable Clients
Premium
$55.00 / Monthly
- Unlimited Invoices (Unlimited Billable Clients)
- Project Profitability Tracking
- Customizable Email Templates
Select
Contact Vendor
- Dedicated Account Manager
- Lower Credit Card Fees
- Advanced Payments
Pros
- + Excellent user interface
- + Strong invoicing and time tracking
- + Great customer support
- + Good mobile app
Cons
- - Limited traditional accounting features (e.g., inventory)
- - Per-client limits on lower tiers
- - Can become expensive as client base grows
Verdict
"Ideal for freelancers and service businesses prioritizing ease of use, invoicing, and client interaction over complex accounting features."
#2
Xero
By Xero Limited
Cloud-based accounting software popular globally, especially among small businesses, offering strong invoicing and inventory features.
Platforms & Use Cases
Platforms: Web, iOS, Android
Best For: Small Business, Medium Business, Accountants
Key Features
- ✓Invoicing & Quotes: Customizable invoices and quotes, automated reminders.
- ✓Bank Reconciliation: Fast bank reconciliation with automatic matching suggestions.
- ✓Inventory Management: Track inventory items, manage stock levels.
- ✓Multi-currency Support: Handle transactions in multiple currencies.
- ✓Reporting: Comprehensive financial reporting tools.
- ✓Bill Payment: Manage and pay bills directly from the platform.
Scorecard (Overall: 8.2 / 10.0)
Pricing
Early
$13.00 / Monthly
- Limited Invoices (20)
- Limited Bills (5)
- Bank Reconciliation
Limitations: Transaction limits
Growing
$37.00 / Monthly
- Unlimited Invoices
- Unlimited Bills
- Bank Reconciliation
- Bulk Reconciliation
Established
$70.00 / Monthly
- All Growing features
- Multi-currency
- Expense Claims
- Project Tracking
Pros
- + User-friendly interface
- + Strong mobile app
- + Unlimited users on all plans
- + Good integration options
Cons
- - Payroll is through Gusto integration (extra cost)
- - Lower tiers have transaction limits
- - Project management features less robust than some competitors
Verdict
"A strong QuickBooks competitor with a focus on usability and collaboration, excellent for small businesses needing solid core accounting."
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#1
QuickBooks Online
By Intuit
Comprehensive cloud-based accounting software for small to medium-sized businesses, known for its extensive features and scalability.
Platforms & Use Cases
Platforms: Web, iOS, Android
Best For: Small Business, Medium Business, Freelancers, Self-Employed
Key Features
- ✓Invoicing: Create and send professional invoices, track payments.
- ✓Expense Tracking: Connect bank accounts, categorize expenses, snap receipts.
- ✓Reporting: Generate detailed financial reports (P&L, Balance Sheet, Cash Flow).
- ✓Bank Reconciliation: Match bank transactions with accounting records automatically.
- ✓Inventory Management: Track stock levels and cost of goods sold (Plus/Advanced tiers).
- ✓Payroll: Integrated payroll processing (Add-on service).
Scorecard (Overall: 8.0 / 10.0)
Pricing
Simple Start
$30.00 / Monthly
- Invoicing
- Expense Tracking
- Basic Reporting
- 1 User
Limitations: Limited users, No inventory management
Essentials
$55.00 / Monthly
- All Simple Start features
- Bill Management
- Time Tracking
- 3 Users
Plus
$85.00 / Monthly
- All Essentials features
- Inventory Tracking
- Project Profitability
- 5 Users
Advanced
$200.00 / Monthly
- All Plus features
- Batch Invoicing
- Custom User Permissions
- Advanced Reporting
- 25 Users
Pros
- + Feature-rich
- + Scalable plans
- + Large app ecosystem
- + Widely used by accountants
Cons
- - Can be expensive
- - Steeper learning curve for some features
- - Customer support can be inconsistent
Verdict
"A market leader offering robust features suitable for growing businesses, though it comes at a higher price point."
Final Thoughts
The accounting software market offers diverse solutions catering to different business sizes and needs. Leading platforms like QuickBooks Online and Xero provide robust, scalable features for growing businesses. FreshBooks excels for service-based freelancers, while Wave offers a compelling free option for basic needs. Zoho Books presents strong value within its ecosystem, Sage provides an affordable entry, and NetSuite serves complex enterprise requirements.