The Best Accounting Software Programs

Sunday, October 6th

2024 Accounting Software Program Reviews

LessAccounting

• $24/month for self-service plan
• $150-$250/month for full-service plan
• Full-service plan costs are based on your business expenses
• Personal accountant handles your data
• Cloud-based
• 30-day free trial
• Mobile app

LessAccounting has been in the accounting software industry since 2011, mainly serving freelancers and small businesses. The company provides simplified accounting solutions to make bookkeeping easy and accessible for non-accountants, which they argue that their competitors fail to do. They offer a couple of subscription-based services with plans customized based on a business' monthly expenses. They are the only service in our review that turns over the bulk of your accounting work to a personal CPA.

Simplified approach

LessAccounting is specifically structured for freelancers and others who may not have intricate accounting knowledge. The software focuses on user-friendliness and intuitive interfaces, making it an ideal choice for managing accounts, handling expenses, and navigating the financial aspects of business with ease.

Full-service plans based on expenses

LessAccounting offers a few plans, each of them ostensibly including the full range of features LessAccounting offers. Unlike other services, you can't choose a plan with fewer features to save money - you have to pay for the plan that matches how much your business expenses are. However, this could be a good thing, because it means you won't have to make do with fewer features than you really need because it's out of your budget. Tiny Bookkeeping is priced at $150/month for businesses with expenses below $2k each month, Freelancer Bookkeeping at $200/month for expenses between $2k and $5k, Team Bookkeeping at $250/month for expenses between $5k and $25k, and Business Bookkeeping at $350/month for expenses over $25k. You can cancel your plan at any time.

Full-service includes a bookkeeping copilot

In a full-service plan from LessAccounting, you get a personal bookkeeper - a real Certified Public Accountant, not a bot - who takes care of all your accounting needs. They keep track of every transaction, manage your invoices, and look after your expenses, making sure everything is recorded accurately. They create monthly statements and reports to help you understand how your business is doing financially. They also help you with budgeting and managing your money, answering any questions you have and giving you advice when you need it. Each year you're subscribed, you'll also get a free 30-minute consultation with your CPA. We love how this service makes it easier for you to concentrate on your business while a professional takes care of your accounts.

Standard Plan: self-service option available

Apart from bookkeeping plans, there's also a Standard Plan at $24/month, which allows access to the software for self-service without a bookkeeping partner. This option is inclusive of various features like sending proposals and invoices, tracking revenue, expenses, and vehicle mileage, and automated bank imports, among others. You can also give your own CPA access to your account if you have someone helping you already.

Get caught up on old financials in 2-4 weeks

At LessAccounting, they understand that catching up on overdue bookkeeping is crucial for maintaining accurate financial records. If you're coming to them behind on your books, LessAccounting will help get you back on track, considering tax savings and making sure everything is in perfect order. Typically, it will take them about 2-4 weeks to complete one year's worth of overdue bookkeeping.

Not much info on quality of customer support

While there are limited reviews compared to other services, and no Better Business Bureau listing, the available reviews for LessAccounting are very positive. There is a scarcity of mentions regarding their customer service quality, but no news is good news, given that people most often leave reviews of products and services after extremely negative experiences.

Automated processes save hours

Users love LessAccounting for its ability to integrate with bank and credit card information, offering a real-time and clear overview of financial transactions. One user noted that this feature allows them to update their books in just one to two hours per month, saving significant time and effort. This is particularly appreciated by small-scale businesses and freelancers.

Simplicity almost to a fault

Although the software's simplicity is considered a strength, it has been acknowledged as a limitation for users who require more advanced functionalities and automation in their accounting processes. A few users have expressed dissatisfaction with the software's limited customization options, particularly in the tagging system and invoicing process. One user cited missing reporting features, such as the ability to compare current and previous years' revenue and profits.

They deliver on their name's promise

What we love about LessAccounting is that you won't be spending dozens of hours doing manual data entry or trying to wrap your mind around accounting jargon. You import your data, and the rest is handled by a professional. As strange as it might seem, there are people out there who actually love accounting, so let them do their thing while you do yours. Despite not being quite as well-known as some of their competitors, we think they're one of the few that actually delivers on their promises of, well, less accounting. For these reasons, LessAccounting is our top pick for small business accounting software.

Sage 50

• $57.17/month for Pro Accounting
• $82.09/month for Premium Accounting
• $136/month for Quantum Accounting
• 15% first-year discount
• Cloud-connected software
• Plans for 1 to 40 users
• "A-" BBB rating
• 2M+ users

Originally known as Peachtree Accounting in the US, Sage 50 has evolved over the years into a cloud-connected accounting and payroll solution targeted at small and medium enterprises. The software was initially designed for businesses with up to 50 employees, hence the name. The platform is renowned for providing a wide range of features that can be easily accessed anytime, anywhere, thanks to its cloud connectivity.

More expensive than other services in our review

Sage 50 comes with various pricing options that you can choose to pay either annually or monthly. New customers also get a discount of 15% for the first year. However, Sage 50 still tends to be on the expensive side:

• Pro Accounting: For $57.17/month, you get features like invoice and bill tracking, expense management, automated bank reconciliation, and more for a single user.
• Premium Accounting: Priced at $82.09/month, this plan offers all the Pro Accounting features with additional capabilities like advanced budgeting, multiple company management, and advanced reporting for 1-5 users.
• Quantum Accounting: For businesses with larger teams (up to 40 users), the Quantum Accounting plan costs $136/month and comes with faster processing, role-based user permissions, and workflow management, among other features.

Get a feel for the layout

The website's landing page gives you a preview of what the software looks like in screenshot format, along with video overviews of all features. If you are already experienced with accounting software, this can give you an idea of the platform's user experience and how easy or difficult it might be to adjust to using Sage. If there's a free trial of the software, though, we didn't find any mentions of it.

Access your reports from any device

From invoicing and expense tracking to inventory management and financial reporting, Sage 50 offers a plethora of functionalities built to simplify complex accounting for small businesses. As stated on the website, Sage's cloud-syncing feature allows users to access more than 165 different reports at any time and from any device.

We're not sure when customer support is available

Sage 50 does offer customer support, but they're a bit cryptic about how to contact them or what their hours are: in order to get this info, you have to sign into your Sage Accounting account. Sage also offers a peer community where users can seek answers to their questions when using this small business accounting software platform.

Praised for customer support

However, customer service is consistently applauded in third-party reviews, with specific mentions of the polite and patient support staff. Reviews generally portray Sage 50 as a user-friendly and customizable platform. Long-time users appreciate how it keeps evolving with technology without becoming more difficult to use. Users often highlight the advantages like simpler reporting functions and the flexibility to customize the platform according to their unique business needs.

A few minor downsides

It's not all roses, though: some reviews point out downsides such as occasional lags and limited tech support availability during peak seasons like tax time.

Plenty of integrations

The software integrates seamlessly with third-party solutions like Sage AP Automation, Avalara, and Microsoft 365. If you're looking for something specific, be sure to check out the integrations tab on their website to see if it's there.

Good rating from the BBB

Sage 50 is not accredited by the Better Business Bureau but has garnered an "A-" rating from them. Additionally, the software is trusted by over 2 million businesses, which speaks volumes about its credibility in the market.

Highly recommended by TopConsumerReviews

Sage 50 is an all-encompassing accounting software solution ideal for small businesses and medium enterprises. While the platform is somewhat pricey, its wide range of features, cloud connectivity, and robust customer support make it a worthwhile investment. If you are in search of accounting software that combines the strength of desktop functionality with the flexibility of cloud-based access, Sage 50 could very well be the service you've been seeking. We're very impressed.

Zoho Books

• 6 plans ranging in price from $0-$275/month
• Mobile app
• Cloud-based
• 14-day free trial

Zoho Corporation, an Indian tech company, has been providing a range of online productivity tools and software-as-a-service (SaaS) applications since it started. One of their impressive products is Zoho Books, which aims to be a complete accounting solution for small to medium-sized businesses. Zoho Books is known for being easy to use, having strong security features, and being customizable. It aims to make accounting tasks simpler while helping businesses stay up-to-date with market trends.

Six pricing plans, including free option

Zoho Books offers multiple pricing plans that accommodate the needs of different businesses. What stands out here is that the pricing is reasonable and doesn't spike dramatically as you climb the tiers for more features. The plans range from a Free tier suitable for very small businesses with limited transactions, all the way up to the Ultimate plan, designed for larger enterprises with more extensive needs. Zoho also grants you a 14-day free trial of the full Premium plan so you can test out the software before committing.

• Free (1 user and 1 accountant) has basic features. Zoho Books' free plan is for businesses with revenue less than $50,000 per year. This plan includes basic invoicing, expense tracking, and bank reconciliation features. You can add 1 accountant to the account. Support is available via email.
• Standard ($20/month) has user roles. The Standard plan is available for $20/month, which includes advanced invoicing, recurring expenses, predefined user roles, and basic customization. Support is available via email, voice, and chat. The user limit is 3.
• Professional ($50/month) compatible with multiple currencies. The Professional plan of Zoho Books includes key features such as project tracking, multi-currency support, inventory basics, custom roles, and 25 custom reports. Support is available through email, voice, and chat. 5 users are permitted on this plan.
• Premium ($70/month) has custom domain option. The Premium plan includes a custom domain, budgeting capabilities, advanced workflow options, and extensive customization options. Support is available through email, voice, and chat, so users can receive assistance whenever needed. 10 users can be invited.
• Elite ($150/month) has custom reporting options. The Elite plan includes advanced inventory control, Shopify integration, warehouse management, and unlimited custom reports. This plan allows for up to 10 users and provides support through email, voice, and chat. With Zoho Books, businesses can efficiently manage their inventory, integrate with Shopify, and access a wide range of custom reporting options.
• Ultimate ($275/month) has advanced analytics. Zoho Books' Ultimate plan comes with a user limit of 15 and key features such as advanced analytics, real-time dashboards, high-level customization, and data handling for up to 5 million rows. Support is available through email, voice, and chat.

Maximum number of users is low

Zoho Books has some limitations to be aware of. First, it doesn't offer as many third-party integrations as some other options out there (it has around 50). So, if you want to connect Zoho Books to other tools you're using, you might be limited. Second, the maximum number of users is 15, even on the most expensive plan. This might not be enough for larger businesses that need more people to have access to the accounting software. So, if you have a big team or need lots of integrations, this service might not be the best fit for you.

Versatile and portable

Customers often praise Zoho Books for its flexibility and ease of use. They find the platform suitable for a wide range of businesses and appreciate how easy it is to learn and teach to others. Zoho Books has a mobile app and is even compatible with the Apple Watch, so you never have to stray far from your financials.

Payroll costs extra

When it comes to value for money, users think Zoho Books offers a compelling package. They feel the software delivers functionalities on par with more expensive platforms but at a more reasonable price point. We tend to agree with this assessment, but we believe that there are other services in our review that edge them out. This is particularly true when you consider that integrating Zoho Payroll requires an additional subscription, whereas other services include payroll in their overall cost.

Good customer service availability and response

Users generally find Zoho Books' customer service to be quite responsive, especially the in-app chat support. However, note that live chat and phone support are only available weekdays from 9 am to 9 pm ET. Outside of these hours, customers have the option to send emails for support.

Doesn't do well with large amounts of data

A few users have reported sluggish performance when dealing with large volumes of data. Some also feel that the platform could offer even more advanced features or capabilities to meet their specific business needs, but this is a sentiment we found in basically every software solution's reviews during our research. Despite concerns, the general consensus is that Zoho Books offers a comprehensive suite of tools that effectively serve the needs of small and growing businesses.

Best for small- and medium-sized businesses

In a nutshell, Zoho Books is a good deal for small and medium-sized businesses. The accounting software offers a lot of features for a reasonable price, and you can add more as your business grows. Users really like how easy it is to use and the many ways you can make it fit your specific needs. Though it has some downsides like some lagging and not being able to add a lot of users, most people find these issues minor compared to the benefits. Plus, customer support is helpful, even if it's not available all the time. Overall, for businesses looking for a balanced accounting solution that doesn't skimp on features, Zoho Books is a good option, although they aren't the most budget-friendly one.

Xero

• 3 plans priced between $15-$78/month
• Cloud-based
• Mobile app
• 30-day free trial
• Quick customer service

Xero is cloud-based accounting software aimed at small and medium-sized enterprises. Originating in New Zealand, the company has expanded its operations to countries like Australia, the United Kingdom, and the United States. At the time of this review, they self-reported more than 3.7 million subscribers. With a broad range of features for various business needs, Xero has become an essential accounting tool for many entrepreneurs.

Mixed reviews on trustworthiness

Though Xero does have an "F” rating from the Better Business Bureau and lacks accreditation, it enjoys a strong 4.3 out of 5 rating on Trustpilot, based on 5,700+ reviews. Notably, it often appears as a recommended alternative in the reviews of competitors that mostly receive negative feedback.

Excellent customer support - but they have to call you first

Customers generally applaud Xero for its exceptional customer support. Issues are resolved swiftly, often within half an hour. The support staff is highly knowledgeable about the product and provides easy-to-understand guidance. However, it should be noted that Xero does not offer a dedicated phone line for customer service, and there is no live chat support available. Assistance is primarily via email, but representatives are willing to call if the issue demands it.

Three tiers of pricing

Xero offers three subscription plans, which all have the option to integrate payroll with Gusto, although this will cost extra. The plans are:

• The Early Plan: At $15 per month, this plan allows users to enter 5 bills, send 20 quotes and invoices.
• The Growing Plan: Priced at $42 per month, this plan also includes the ability to reconcile transactions in bulk.
• The Established Plan: At $78 per month, this plan allows you to use multiple currencies, track different projects, claim expenses, and use Analytics Plus.

Frequent price hikes

Discounts are frequently offered to new customers, like 70% off for the first three months. However, during our research, we discovered that Xero has a history of increasing subscription fees. Previous subscribers have not been grandfathered into their old rates, which has been the cause of some ire in customer reviews. These increases are often justified as adding value through new functionalities, which haven't been useful to all users.

Try it risk-free

Xero also has a 30-day free trial that doesn't require a credit card, and you can cancel your subscription anytime.

Unlimited users and inventory management on all plans

Xero offers a comprehensive suite of features, including bill payment, expense management, bank connections, cashflow snapshots, and project tracking. All plans allow an unlimited number of users and include audit trails and easy accountant access. Xero connects with over 1,000 apps, notably HubSpot, DocuSign, and Salesforce. Unlike some of its competitors, all of Xero's plans come with inventory management.

Dashboard with basic analytics

Xero has strong reporting capabilities and an Accounting Dashboard to keep track of financial metrics. It's praised for its simple, sleek layout, making it more approachable for those new to accounting; however, it doesn't have a couple of desired features like industry-specific reports and extensive transaction tracking tags.

Educational resources for business owners

The website also features an informative blog with sections covering a range of topics, such as E-commerce, Marketing, Accounting and Bookkeeping, Leadership, Planning and Performance, and much more. This is a great resource for business owners looking to gain more knowledge in these areas.

We recommend it

Xero's interface is clean and straightforward, ideal for small business owners who may not have an extensive accounting background. The absence of certain advanced features makes it less overwhelming, yet still functional for the majority of users. While it does have a few drawbacks, such as regular price increases and no included payroll capabilities, its positive aspects like the variety of features, ease of use, and excellent customer support make it a solid alternative to other more established competitors in the market.

Kashoo

• $27 per month includes payroll and unlimited users
• Mobile app
• Cloud-based
• 14-day free trial

Kashoo, based in Vancouver, BC, Canada, has been offering accounting solutions specifically designed for small business owners for over a decade. Operating in more than 180 countries, Kashoo has stayed relatively obscure, with minimal available customer reviews, most of which rate the software 4-5 stars. The company prides itself on a user-centric approach, prioritizing active listening to create solutions to small business owners' accounting problems.

Free payroll and unlimited users

Kashoo's portfolio includes three distinct solutions. Trulysmall.Invoices is a simplistic tool focused on invoice sending. Trulysmall.Accounting, costing $216/year, targets emerging businesses for very basic financial tracking. The flagship, Kashoo, at $324/year, is designed for mature businesses seeking customization and control. This works out to $27/month, which is an absolute steal - especially taking into account the fact that it includes Payroll features and unlimited users at no added cost.

All the necessary features

Kashoo offers various features such as customizable invoice design and layout, check printing, business report viewing, project tracking, and more. It is worth noting that Trulysmall.Accounting has an advantage over Kashoo as it allows you to bulk edit transactions and automatically categorize them, which Kashoo lacks. However, Kashoo is specifically designed for business owners who want greater control over the finer aspects of their finances, and these individuals would likely prefer to avoid miscategorized transactions.

Top-notch customer service

Kashoo promises excellent customer service, with all team members actively responding to subscriber questions through emails, phone calls, and chat sessions. The few reviews we found all confirm this claim: Kashoo's customer support is praised as responsive and useful across the (very small) board.

Integrate with Square

Despite the scarcity of reviews, the available ones predominantly praise Kashoo's user-friendly interface: the software's intuitive nature and its capability to manage international currencies have been highlighted as significant advantages. Users also appreciate Kashoo's seamless integration with third-party applications like Square.

Mobile app isn't great

Some users have reported issues with syncing Kashoo, particularly on the iPad, which has been inconvenient for on-the-go tasks. The Android app has also been cited as having limitations that negatively impact the mobile user experience. Users have mentioned that certain features are unavailable on the iOS iPhone app, and there have been reports of unreliable banking downloads.

Less customizable than some competitors

Kashoo might have less customization than its competitors, but that's generally the trade-off when it comes to small business accounting software that is easy and not overwhelming to use. We found a few customers wishing for more customization of invoices and some specific features like user access based on role in the business, but these didn't seem to be a dealbreaker for anyone.

Give it a try

Kashoo may not have many reviews, but the ones available are quite positive. Users appreciate its user-friendly interface, range of features, and excellent customer service. For a price of approximately $24 per month, we think Kashoo offers great value in the full-service software market. We recommend trying them out for the 14-day free trial and seeing what you think. For these reasons, we give Kashoo a good rating - which would be better if we could find more positive customer feedback and if their subscription was on a monthly basis.

QuickBooks Online

• $15/month for Simple Start
• $45/month for Plus
• $100/month for Advanced
• Quick and easy setup: takes about 5 minutes to get started
• Cloud-based
• Mobile app
• 30-day free trial of Plus plan

QuickBooks, originally released by Intuit as accounting software for desktop computers, now serves over 7 million customers worldwide with various versions to meet different business needs. When Intuit announced that the 2020 versions of QuickBooks Desktop (QBD) would no longer be available after May 31st, 2023, it indicated a significant shift towards modern, cloud-based solutions. While QuickBooks Desktop and QuickBooks Online (QBO) have different features, this review will focus only on QuickBooks Online, the flexible and versatile platform that dominates the small business accounting market.

Setup is quick and easy

Getting started with QuickBooks is straightforward, with the initial setup taking approximately five minutes. You can easily sync your bank or credit card transactions to get your account up and running. QuickBooks Online also offers a 30-day free trial of its Plus plan, making it easy and risk-free to test out the platform. Accessible through any web browser, it also comes with a free mobile app, so you can manage your business finances on the go.

Different plans for different needs

When you first land on QuickBooks, the platform directs you to choose a subscription plan, decide whether you need a payroll add-on, and proceed to checkout. The options vary in price and capabilities, so you can pick what fits best for your business and avoid overpaying for features you won't use.

Pricing from $15 to $45 per month

Starting with the "Simple Start" package, priced at $15 per month, you get a basic, single-user account that allows you to generate general reports and connect to one sales channel. The "Plus" plan is a mid-tier offering at $45 per month, accommodating up to five users and allowing for a wider array of reporting features and the ability to connect to multiple sales channels like Amazon, Etsy, and more. The high-end "Advanced" plan, coming in at $100 a month, can support up to 25 users and provides a suite of advanced reporting options and connectivity to all sales channels.

Core features across all plans including guided setup

Regardless of the plan you pick, QuickBooks offers a range of staple features. All users get a free initial setup guided by a QuickBooks expert, who helps link your bank accounts, automate routine tasks, and share best practices. The platform allows for the secure importation and categorization of transactions from various financial sources like banks, credit cards, and payment platforms like PayPal. Receipt management is made easy with features to capture, sort, and link expense receipts, all from your mobile phone.

Tax and mileage tracking simplified

Tax season becomes less stressful as the software organizes your income and expenses into tax categories. You can even share your records directly with your accountant. You'll also get a mileage tracker that works via your smartphone's GPS, simplifying the categorization of business and personal trips while offering reports on possible deductions. Additionally, QuickBooks allows you to manage cash flow projections, create estimates, and track sales and their corresponding taxes.

Additional features in Plus and Advanced plans

For those opting for the Plus and Advanced plans, additional perks are available. These include timesheet management, where employees can enter their time against specific projects, as well as features to manage and pay your bills online. You can keep tabs on project profitability and get an overview of all your projects in one centralized dashboard. Inventory tracking is another advantage, with alerts for low-stock items and integrations with various e-commerce platforms.

Advanced plan includes more app integrations and 24/7 support

The Advanced plan takes things up a notch with 24/7 customer support and customized access roles for team members. You'll also get batch invoicing and expense features, business analytics that integrate seamlessly with Excel, and exclusive app integrations. Apps like LeanLaw, HubSpot, DocuSign, and Salesforce can be connected for a more personalized business management solution.

Pay extra for payroll and additional users

If you choose the payroll add-on when checking out, QuickBooks offers three plans to meet your business's payroll needs - although we do find them a bit pricey.

• The Payroll Core plan starts at $22.50 per month, plus an additional $6 per employee per month.
• The Payroll Premium plan is priced at $40 per month, with an additional $8 per employee per month.
• Finally, the Payroll Elite plan is available at $62.50 per month, with an added $10 per employee per month.

All payroll plans include full-service payroll capabilities, auto-payroll, and options for health benefits. Workers' compensation, 401k plans, and expert product support are also available. The Payroll Elite plan offers additional benefits such as expert setup services, tax penalty protection, and access to a personal HR advisor for accurate and efficient payroll and employee management.

QBO is not a customer favorite

Neither QuickBooks Online nor Intuit are accredited or rated by the Better Business Bureau, but customer reviews on third-party websites express a range of frustrations. Complaints include fund holds that negatively impact business operations, unhelpful customer service, and inflexible refund policies. Several reviewers mentioned that the migration from QuickBooks Desktop to the online version resulted in disorganized or lost data, and noted that the online platform seemed less suited for medium-sized businesses compared to its desktop counterpart. In addition, users reported constant pop-ups and advertisements, even on premium accounts. Despite a few commendations for the software's capabilities, the general sentiment skews towards dissatisfaction, both for those new to QuickBooks Online and long-term users making the switch from desktop versions.

High hopes left us disappointed

Out of all our accounting software reviews, QuickBooks Online was the most difficult to rank. First, they present a polished and professional appearance on their website, complete with an array of promising features. They offer a variety of affordable plans and options for businesses at differing levels of need. Their name is practically synonymous with small business accounting. However, we can't ignore the absence of Better Business Bureau accreditation, and even more surprising the sheer volume of negative customer experiences. In particular, QuickBooks Online has received criticism for poor customer service and operational problems, which have had negative real-world effects on the reputation and finances of small business owners. We can understand if you still want to move forward with QuickBooks Online - just be sure to keep your eyes open.

FreshBooks

• Cloud-based
• Mobile app
• "A-” BBB rating
• 4 plans priced $17-$55/month
• Customizable "Let's Talk” plan
• 30-day free trial
• Great customer service

FreshBooks is online accounting software designed to help small and medium-sized businesses manage their finances. It was launched in 2003 in Toronto, Canada. FreshBooks is a comprehensive software-as-a-service (SaaS) model that can be accessed through desktop or mobile devices. The company has earned an "A-" rating from the Better Business Bureau (BBB).

Navigation and promotional distractions on website

FreshBooks isn't off to a great start from the moment you arrive on the landing page. Navigating through the website can be difficult due to distractions like advertising banners, customer support chatbot pop-ups, and swiftly changing image carousels.

More to pricing than meets the eye

On the Pricing page, you'll find 4 plans ranging from $17 to $55 a month, making them seem at first glance like one of the cheaper services in our review. However, unlike other services with a higher sticker price, each plan only includes one user and you have to pay an additional $11/month per user you add, meaning costs quickly add up. For all plans, you also have to pay extra to incorporate payroll functions via Gusto.

Lite plan limits clients

FreshBooks offers a Lite Plan for $17/month, which includes unlimited invoices for up to five clients. However, FreshBooks' limitation on client numbers, rather than user numbers, is surprising: most services' cheapest plans limit the number of users instead. This raises the question of whether FreshBooks wants your business to grow or not. The answer seems to be yes, but only if they get a cut. The Lite plan offers estimates, credit card, and bank transfer payments, and accessibility on iOS and Android platforms.

Unlock app features with Plus plan

The Plus plan, at $30/month, expands invoicing to 50 clients and adds features like mobile mileage tracking and the ability to capture receipt data from phones. It also enables users to invite their accountants.

No limitations with Premium plan

The Premium plan is available for $55/month, offering services to an unlimited client base and providing advanced features like automatic expense tracking and detailed financial, accounting, and business health reports.

Schedule consultation to create customized plan

FreshBooks introduces a unique customizable "Let's Talk” plan, allowing you to pick and choose the features you want, which is something we haven't seen from competitors.

Simplified design

Many users like the easy-to-use design here, especially people who are new to business. FreshBooks seems to be good for people who don't know much about bookkeeping or accounting. It's known for being able to make and handle custom invoices and work well with PayPal, although these features are available with competing services too.

Limited features increase usability but sacrifice scalability

When it comes to small business accounting software, ease-of-use and accessibility to novices generally means trading on functionality, which is a gamble FreshBooks has made. Accordingly, some users have found that FreshBooks lacks some features they needed to run their medium-to-large sized businesses. However, on their website, FreshBooks attempts to compare itself to a competitor that targets larger businesses by highlighting several negative reviews of the competitor's service. These reviews mainly talk about how difficult it is to use the competitor's service if you don't know anything about accounting or mainly need it for freelance work. It's important to remember that just because FreshBooks has found criticisms of the competitor's service doesn't mean FreshBooks is automatically the better option. We haven't seen much to suggest that they are.

Inefficiencies and bugs

Users have reported inefficiencies in functionalities like forwarding invoices and auto-processing receipts, and the presence of numerous bugs impacts the overall user experience. Some customers have also experienced data losses, including disappearing invoices.

Customer support excellence

If FreshBooks excels at anything, it's customer support. They've received a high Quality of Support rating on a couple of third-party websites, with many customers backing this up in their reviews, describing their interactions as fast, efficient, and helpful. The support team is known for their quick problem-solving skills and has received many positive mentions.

Nothing to write home about

We don't believe there are any major issues with FreshBooks, but their attempts to differentiate themselves from their top competitor fall flat, and their bothersome website design doesn't help their cause. If you have had negative experiences with customer service from other accounting software providers and having better experiences in that area is a priority, it may be worth giving FreshBooks a try. However, in terms of pricing, usability, and other aspects, they are fairly average and unremarkable. You've got other small business accounting software options to check out before you commit to FreshBooks.

Wave

• Accounting and Invoicing plans are free
• $8/month for Mobile Receipts plan
• $40/month for Payroll plan
• $149/month for Advisors plan
• Cloud-based platform
• Mobile app
• "A” BBB rating
• 30-day free trial

Wave, started by co-founders Kirk Simpson and James Lochrie in 2010, has come a long way from its humble beginnings of a team consisting of just 8 members. The company has set itself apart by offering a range of financial tools specifically aimed at empowering small businesses. With accolades from Deloitte and a large customer base that has been growing since its launch, Wave was acquired by H&R Block in 2019. Their mission statement emphasizes providing an "all-in-one financial management solution" for small business owners. So, what makes this web-based accounting platform worth considering for your small business needs?

Features are divided into bundles with free plans available

Wave offers an interesting model where most of its basic services, such as invoicing and accounting, are available for free (yes, you read that correctly). Their free plan allows you to create customized invoices, send automated reminders, and enable various payment methods directly from your invoices. The accounting package also offers unlimited income and expense tracking, as well as unlimited partners, collaborators, or accountants. It's almost an a la carte approach, different from most accounting services where invoicing, accounting, and payroll are all bundled together with the option to upgrade to plans with premium features from any of these categories.

Invoicing and Accounting plans are free

Wave's free offerings are divided into two main categories: Invoicing and Accounting. The Invoicing package lets you create customized invoices that reflect your brand so you can add personal touches to what you send to clients. Features include customized invoices; automated reminders for late payments; options to enable Apple Pay, bank payments, and credit card directly from invoices.

Accounting plan includes unlimited members

The Accounting set, on the other hand, focuses on managing and tracking your finances. Some of its features are unlimited tracking for income and expenses; the ability to add unlimited collaborators, accountants, or partners; dashboard insights into client charges; unlimited bank and credit card connections; and access to critical reports like Overdue Invoices & Bills and Profit & Loss.

Mobile Receipts add-on for $8/month

As your business grows, you may consider exploring Wave's more advanced paid features. To start you off, the Mobile Receipts plan is available at $8/month. This paid package helps you manage your expenses effortlessly by offering unlimited receipt scanning; importing up to 10 receipts at once; cloud-based storage of all receipts; automated tracking of business spending; and streamlined tax prep with accurate books and reports.

Payroll add-on costs $40/month

Wave's Payroll plan, priced at $40/month, aims to make employee and contractor payments as smooth as possible. If you're not sure if you can make use of the Payroll plan, you can take advantage of Wave's 30-day free trial to check it out. Features include easy one-click payment deposits to employee's bank accounts; employee portal for paystubs and tax forms; quick access to essential tax forms and documents; and guaranteed accuracy for tax compliance.

Advisors plan ($149/month) includes tax support all year

Wave Advisors is a paid plan that offers personalized help and support for people who are new to accounting or want to get the most out of Wave's features. It is pretty expensive at $149 a month - other accounting services in our review cost half this amount and include a full suite of features. Wave's Advisors plan includes coaching or support from bookkeeping, accounting, and payroll experts; tailored business advice; and year-round advisor access.

Transaction fees apply to Payments plan

Lastly, Wave provides a Payments package that isn't entirely free but incurs a fee of 2.9%-3.4% plus an additional 60 cents per transaction, depending on the card used, and a 1% fee on all bank payments. The plan allows you to accept various forms of payments, with features such as flexible payment options, including bank deposit, credit card, and Apple Pay; automatic syncing of invoice payments to your accounting dashboard; fast payment processing times (1-2 business days); and recurring billing and payments setup for retainer clients.

Positive BBB rating, but poor customer reviews

Wave has earned an "A” rating from the Better Business Bureau, indicating a generally positive track record. However, user reviews are a mixed bag. While some customers find the platform excellent for basic accounting and invoicing needs, others have cited poor customer service, sudden cancellations of services, and bugs in the paid features.

Unclear and inconsistent communication from customer service

The customer reviews for Wave's accounting and invoicing platform range from highly positive to extremely negative. One of the most frequent criticisms appears to be related to customer service. Several users express frustration with slow email response times, a lack of phone support, and text support waits that can last over an hour. Even when support is available, some reviewers feel that while the staff are polite, they aren't knowledgeable enough to resolve issues. Moreover, many users have reported that their Wave Payments accounts were randomly canceled and then reinstated, causing distrust and confusion.

Concerns about functionality

Another cluster of complaints revolves around technical issues and limitations. Users mention bugs that remain unaddressed despite being reported multiple times. In one case, typing a date into a bills page led to a website crash. Several mention that the software lacks critical accounting features and reports. Connectivity issues with American Express also seem to plague the platform, forcing customers to manually import and classify these transactions, which defeats the purpose of automated financial tracking. Several users outside the U.S. and Canada also express dissatisfaction with geographical limitations on the service, which apparently redirects them to Wave's partner, Zoho Books.

Positive reviews from those who don't rely on Wave for complex tasks

However, Wave also has its advocates, particularly among freelancers and sole proprietors who need only basic small business accounting functionalities. These happy users find the platform suitable for their needs, highlighting the attractiveness of its free pricing structure and user-friendly interface. They praise the invoicing system and the expense tracking features, stating that the platform provides everything they require to effectively manage their small businesses.

Paid features aren't worth the hassle

For small business owners who are just starting out, Wave is an attractive choice thanks to its wide range of free services to help with financial management and invoicing. However, if you have plans to grow your business beyond the scope of these free features, it may be worth considering a different service - you have a few options to choose from among the services we have reviewed that not only function better but come with a much lower price tag.

FreeAgent

• Single plan priced at $12-$24/month
• Cloud-based
• Mobile app
• 30-day free trial
• Unlimited users
• Free payroll

FreeAgent, a UK-based company, has been offering accounting solutions to small businesses since 2007. It was founded by a team of freelance designers and developers seeking to address their own bookkeeping challenges. The cloud-based service, used by over 150,000 small businesses, operates on a straightforward and affordable business model, providing an array of features designed primarily for freelancers and consultants. Although the platform is acclaimed for its intuitive interface and efficient functionality, its orientation towards the UK market makes it less optimal for American users.

Single price

FreeAgent operates on a simplified and cost-effective pricing model. The service charges $12 per month for the first six months for new customers, after which the cost is $24 per month. The singular pricing plan means users have access to all features without the need to pay extra, unlike some competitors. There are also options to pay upfront and take advantage of attractive discounts, and a 30-day free trial is available for prospective users.

Unlimited users, free payroll functionalities

FreeAgent provides the standard range of features for managing tasks like estimates, invoicing, expenses, banking, cashflow, project management, time tracking, and payroll. And, unlike competitors, you don't have to pay extra for the payroll functions. You can use FreeAgent without any limitations, which means you can have as many clients, projects, and users as you want at no extra expense. FreeAgent was designed for small businesses with up to 10 employees, so don't expect to find very granular or advanced features.

Unique Radar feature

FreeAgent's unique Radar feature offers to-do lists, personalized insights, and alerts to help you keep your business on track. When you complete a task from your Admin To-Do List, such as explaining uncategorized transactions or solving a cashflow shortfall, the item will be marked with a satisfying strikethrough.

Interface is functional, not fashionable

Many users praise FreeAgent for its intuitive and user-friendly interface, emphasizing its superiority over its top competitors, particularly for freelancers and consultants. The platform is lauded for its ease of use, speed, and the helpful tips provided to users, helping them stay on top of their tasks. However, some users feel that the interface could benefit from a visual update, despite being functional.

Customer support line operates on UK business hours

Customer support is a strong point for FreeAgent, with many users praising the knowledge and friendliness of the support team. The company provides a 24-hour chatbot for support, but its phone lines operate according to UK business hours, which might be impractical for users based in the US. If you're in the Central Time zone, for example, you'd need to be on the phone with them before 10AM your time, as they close at 4PM their time.

Hiccups with bank connection

Users appreciate the powerful search function of FreeAgent, which simplifies finding transactions and receipts. They report that the platform makes bank reconciliation straightforward, saving them considerable time on accounting. However, there have been instances where users needed to reconfirm the connection with a bank account because the balance displayed in the FreeAgent software was inaccurate, and it wasn't always apparent when this needed to be done.

Mobile app functionality isn't great

The FreeAgent mobile app has received mixed reviews. While some users find it to be efficient, some have had issues with attempting to access the camera on their phones, occasionally causing the app to crash. Others find the screen print very small when using a mobile phone, necessitating a lot of zooming in and out.

Needs better support for American users

When navigating the FreeAgent website, you may encounter a pop-up that informs you that you are currently viewing the UK version of the site. It asks you to select your location from a drop-down menu. However, after doing so, you are redirected to an error page indicating that the page you were looking for could not be found. This includes the page that allows you to calculate the time and money saved by switching to FreeAgent, as well as the page that explains who FreeAgent is intended for. Apparently, not Americans. This raises the question of what other features of the software might seem appealing at first glance but are not actually supported in the US.

C's get degrees

Although FreeAgent has received positive reviews on different platforms, it has a "C+” rating from the Better Business Bureau (BBB). The old saying "C's get degrees" is true, but this less-than-perfect rating suggests that there are areas for improvement to enhance user experience and satisfaction.

Shouldn't be your first choice if you're not a UK resident

FreeAgent excels in several areas, including affordable pricing, excellent customer service, and a strong focus on companies with approximately 10 employees - specifically in the UK. So, if you reside outside the UK, they may not be the ideal choice for you. Due to this, we give FreeAgent a lower rating than what we would give them if we had seen evidence that they treated the American market as less of an afterthought.

Oracle NetSuite

• Priced at $999+
• Mobile app
• Cloud-based

NetSuite, a subsidiary of Oracle, provides an extensive range of business management applications, extending beyond the capabilities of basic accounting software. Unlike simpler software that primarily serves small businesses with limited accounting needs, NetSuite positions itself as a unified, adaptable solution designed to accommodate growing businesses. It aims to integrate various business functions such as customer management, e-commerce, HR, project management, and supply chain management into one system.

They claim to be better than top competitors

NetSuite portrays itself as an all-encompassing solution for growing businesses. It claims to lower operational costs, automate key processes, and enhance productivity. They compare themselves to the top accounting software solutions by name, saying what makes them different is that they're designed to grow with your business through integration across various business processes like customer management, e-commerce, HR, and project management.

Too expensive for small businesses

NetSuite's pricing isn't disclosed upfront - you're supposed to schedule a consultation to get that information. However, we found reports within the last six months that the foundational software costs a minimum of $999 per month, with an additional $99 monthly fee per user. This is more than three or four times some of the most expensive options we've reviewed, making it inaccessible to the majority of small businesses right off the bat.

Complications in pricing

Without any official information on their website, it's hard to tell exactly how much you'll end up paying, but we found reports that in addition to the $999 per month, you'll also have to pay for any add-on modules you might need, meaning there are three main pricing segments you'll have to pay for with NetSuite: the core platform, optional modules, and the number of users. Additionally, there's reportedly a one-time implementation fee for the initial setup. The system's modularity is supposed to mean that businesses can activate new modules and add users as they grow, but we're unclear on what you get with the core platform.

Harassment of potential and past customers

A deluge of negative customer reviews paints a concerning picture of NetSuite. Many clients express dissatisfaction with the aggressive sales team and constant phone calls even after opting out of their contact lists - so if you do decide to schedule a consultation, beware. This non-consensual communication raises questions about the company's professionalism and respect for prospective clients' wishes.

NetSuite employees are incompetent

Customers have recounted their torrid experiences with NetSuite's implementation services. Implementation is reported to be painful, with perceived incompetence from NetSuite partners and constant additional charges. Several businesses have experienced unfulfilled implementations and unanticipated delays, leading to project cancellations and no refunds for the money wasted in the process.

Operational setbacks likely

The system's performance has also been criticized for being exceedingly slow, with noted instances of downtime. In one instance, NetSuite reportedly went down for six hours without proactive communication from the company, leaving clients in the dark and having to submit help tickets just to get updates.

Rising costs make NetSuite a financial burden

Customers have complained about unexpected and large increases in license costs and reported that fees going up after they start using the product is a trend. Some customers have experienced their license prices going up by more than 60% in just one year because their initial discounts were discontinued, despite assurances from representatives that their price would be locked in.

Promises unfulfilled

The glossy promises made by NetSuite's sales staff often fall flat during actual implementation. Businesses have reported a stark discrepancy between what is promised during the sales process and the reality of what the platform and the team can deliver. This has led to project cancellations and strained relationships with clients, further tarnishing NetSuite's reputation.

Limited initial features

Despite its high price point, NetSuite offers limited features upfront. The value is said to lie in the system's integration capabilities and scalability through additional modules. However, whether this purported value aligns with the substantial investment required is highly contingent on individual business needs and demands - and besides that, we've found numerous reports that integration with other programs is not without challenges.

No free trial

Virtually every other accounting software solution in our review offers a free trial of at least 2 weeks. NetSuite, however, advertises a "free product tour,” which requires you to give them your contact information and the name of the company you work for. Given the other things we know about this company, this seems like a convenient way for them to conceal the parts of the software that don't really work - and to gather your personal info for marketing purposes.

Look elsewhere

NetSuite might look good on the surface with its shiny promises, but many businesses have had bad experiences with it. They complain about broken promises, unexpected high costs, and terrible customer service. On top of that, the software doesn't easily work with other programs and lacks some basic features. NetSuite tries to attract businesses with big promises, but it often fails to deliver, costing customers potentially thousands of dollars. Many customers have said that the company doesn't seem to care about what they need or want. The Better Business Bureau's "F” grade puts the period on this sentence in permanent ink. Businesses, especially smaller ones, should think twice before using NetSuite because it might end up costing them more in the long run.