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May 17, 2017

The Top 6 Accounting Software Choices for Your Business Needs

The scope of computerized accounting has increased significantly. Top accounting software tools in the market are easy to use even by those who are not tech-savvy. Whether you want to track your income or expenses, or cut down on tax deductions, accounting software tools are there to help your business grow without any financial hiccups. To provide these benefits, top accounting software tools come with some core modules like accounts receivable, accounts payable, billing, general ledger, purchase order, stock, sales order, and bookkeeping. While the market is brimming with different accounting software tools, these are the top accounting software searches online:

Xero Beautiful Business Accounting Software 

It’s a cloud-based accounting software for small business needs, and can be accessed from any mobile device with a browser. For this accounting software, you can invite as many users as you want, and can also limit their access to different data. Even the starter plan for this accounting software includes functions like accounts payable, invoicing, inventory, expense claims, etc.

Highlighting Features

• Payroll programming available.

• Unlimited user access.

• Various features available like business performance dashboard, multi-currency accounting, asset management, quotes, etc.

• Suitable for all business types, such as, retail, hospitality, eCommerce, legal, non-profit, etc.

• Ensures complete data security and integrity.

Intuit Quickbooks Accounting Software 

Intuit Quickbooks provides a complete accounting solution to small, medium and large enterprises. With this business accounting software, companies can streamline processes like inventory, sales, payroll, etc. It works by providing real-time accounting insights to help businesses track their transactions without any fail.

Other Important Features

• Ensures easy invoicing with features like payment reminders, email reminders to customers, tracking of receivables, and creation of recurring invoices.

• Online banking integration helps in automatic download of bank transactions.

• Intuit Quickbook mobile app provides access to accounts anytime and anywhere.

• Bookkeeping and payroll processes made easier.

• Its security system is on par with online banking to ensure safety of data.

Wave Business Accounting Software  

Wave accounting software is a smart tool for small businesses with easy payment, payroll, accounting, invoicing, etc. At every step of online accounting, Wave is there to help small businesses track expenses and manage employees. Companies with limited budgets can track money, make money and spend money in a smarter way with Wave.

Key Features

• Provides access to capital.

• Improves cash flow by streamlining the payment process.

• Payroll process made easier so that salary is processed on time.

• Helps small companies in getting ready for tax time by providing accurate business insights.

• Connects small businesses with accountants and bookkeepers for customized services.

• Provides double-entry accounting tools with proper settings and accurate reports.

Zoho Books 

This cloud-based platform has been designed to manage finances of all types of businesses with accuracy. From inventory management to billing, purchasing, and tax readiness, all can be managed seamlessly with Zoho Books.

Salient Features

• Helps in converting accepted estimates by customers into invoices and sales orders.

• Offers online payment option to customers for fast billing.

• Offline payments can also be recorded effortlessly with this accounting software.

• With the help of Zoho Books, pre-payments can be used to send customer invoices.

• Collection of deposits and advance payments are easy with Zoho Books.

• Ensures real-time completion of timesheet actions by providing role-based access to each employee.

FreshBooks Accounting Software 

It’s a cloud-based accounting software that is designed to help small businesses manage their accounting processes efficiently with minimum manual intervention. It helps agencies, firms and consultancies in sending invoices to clients and getting payment on the right time.

Other Key Features

• Allows users to create customizable invoices on templates of their choice.

• Helps in managing recurring invoices by sending them automatically on scheduled days.

• Automatic pay reminders and automatic late fee features to save time and effort of users.

• Tracks business expenses in multiple currencies, and also allows easy editing of expenses.

• All receipts can be stored in an organized manner in FreshBooks.

• Helps in team time tracking with daily breakdowns and bill for tracked hours.

• Offers automatic payment recording and automatic expense recording features.

Tally ERP 9 

This provides complete accounting and payroll solutions to small- and medium-sized businesses. Tasks like payroll, sales, inventory and many more can be managed well with Tally ERP 9.

Noteworthy Features

• Useful in simple accounting processes, such as, payables, receivables, managing accounts, keeping records, etc.

• Ensures efficient financial management with easy handling of daily transactions, cash flow, daily balances, multiple currencies, and so on.

• Seamless inventory management with categorization of stock items, actual on-hand stocks, and consumption reports.

Along with these, there are many other business accounting software tools that even non-accountants can use with ease. So, why deal with your funds manually, when accounting software can help businesses in making financial reports automatically and with less chance of error.


Sangram Chauhan has been the news writer at journal since 2014. His passion for guiding business by implementing successful digital marketing strategies have helped them to increase penetration in their respective marketing segments.