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Accounting, Tax & Budgeting Software

Best Accounting, Tax & Budgeting Software

TrustMaps are two-dimensional charts that compare products based on satisfaction ratings and research frequency by prospective buyers. Products must have 50 or more ratings to appear on this TrustMap, and those above the median line are considered Top Rated.

Accounting & Budgeting Software Overview

What is Business Accounting Software?

Accounting Software records and processes accounting transactions and serves as an accounting information system from which decision makers or company accountants can monitor business processes and generate financial reports.

Their essential feature is an interactive financial dashboard with a general ledger for handling double-entry bookkeeping. Common features to this class of software are as follows:
  • Means of tracking company inventory and purchase orders
  • Sales tracking
  • Automated invoicing
  • Receipt capture via document or image processing
  • Timekeeping
  • Analytics for budgeting and revenue tracking
  • Financial reporting
  • Accounts payable/accounts receivable functions.
These features are either contained intrinsically (within the accounting software) or managed via integration with third-party software that performs these functions in a modular fashion (e.g. dedicated AR or AP software, Expense Management Software, Image Capture Software, etc.).

An automated ERP (Enterprise Resource Planning) system contains all of these functions (or supports integration with the requisite modules), thus these products appear in this category as well. However ERPs are often industry specific or scaled to the needs of larger companies and may represent overkill for seekers of pure and simplified accounting solutions for their business.

Some vendors offer specialized accounting software dedicated to handling the regulatory and reporting needs specific to some industries, like construction or manufacturing. Either an all-in-one solution or a package bundled with smaller, dedicated integratable modules could be the best approach, depending on business needs.

Small Business Accounting Software

Accounting & Budgeting Software offerings vary a great deal in complexity. Simple, inexpensive or free platforms are available for entrepreneurs and smaller companies, while medium-sized or larger companies may find use for more complex software possessing a greater breadth of features or deeper processing capacity and higher usage limit caps (like unlimited invoicing or the ability of a larger number of users to access the system).

QuickBooks, FreshBooks, and Wave Accounting are some of the leading products suited to small business. QuickBooks requires training for new users, but it is convenient to use with an accountant and other financial services, because most providers in the space are already familiar with it. FreshBooks is a bit simpler and requires less training; Wave Accounting is free and aimed at businesses with fewer than 10 employees. When evaluating accounting tools, small businesses may want to pay particular attention to these areas:
  • Cost
  • Usability and training requirements
  • Efficiency
  • Scalability and limitations, including number of customers/invoices/users/transactions per month
  • Customer support
  • Reporting
  • Mobile functionality
  • CPA access (unless you manage your own finances)
  • Credit card processing, tax preparation, and payroll services
  • Integrations to third-party tools

Cloud Accounting Software

Traditionally, accounting software products were installed locally on servers located in the firm's location (on-premises or desktop software), and this kind of accounting software is still widely used today. Following the dominant trend in the broader software market though, many newer products are offered as cloud products, delivered over the Internet and accessed with a web browser.

Older, on-premise-based installed products are sometimes offered in “hosted” deployments, but this is not the same thing. “Cloud” usually means Software-as-a-Service (SaaS) where the vendor manages the software application and the entire hosting infrastructure on behalf of all customers. The product is designed to be deployed in this one-to-many model and customers access the product through a simple web browser.

Xero, Wave, Intacct and NetSuite are examples of cloud accounting vendors. On-premise vendors such as QuickBooks and Sage now offer cloud products as well. Read more about cloud vs. on-premise trend in Accounting software.

Accounting & Budgeting Features & Capabilities

General ledger features make up the core of most accounting & budgeting platforms. Inventory, order, and payroll management features may be included as modules within the platform, or may be handled by third-party plug-ins; some of these features are industry specific.

Accounting & Budgeting tools also include reporting and customization/integration features (like dashboards and an API for custom integrations) that are common across many software categories. Additional capabilities are relevant for accounting firms who manage finances for multiple businesses.

General Ledger Features

The general ledger is a record of transactions and balances. These features comprise the basic bookkeeping functionality of the software:
  • Accounts payable and receivable
  • Cash management
  • Bank reconciliation
  • Expense management
  • Time tracking
  • Fixed asset management
  • Multi-currency and multi-division support
  • Regulations compliance
  • Electronic tax filing
  • Self-service portal

Inventory Management Features

These features give businesses the ability to track and manage the flow of goods or materials into and out of an inventory. They are relevant to industries with physical inventories, like retailers and suppliers. Inventory management functionality addresses:
  • Inventory tracking
  • Automatic reordering
  • Location management
  • Manufacturing module

Order Management Features

This feature set gives businesses the ability to process orders and track them from quote to cash. Order management is relevant to businesses that deal in services or goods and materials. For example, eCommerce retail vendors need to manage product orders and pool maintenance companies need to manage work orders. Basic order management features are:
  • Pricing
  • Order entry
  • Credit card processing
  • Calculating cost of goods sold

Payroll Management Features

Payroll management features are relevant for handling the costs and money flow associated with a company's workforce. These may be more or less sophisticated depending on the scale of the business and the type of employees (e.g. full time, part time, contractors, etc). Payroll management features include:
  • Pay calculation
  • Benefit plan administration
  • Direct deposit files
  • Salary revision and increment management
  • Reimbursement management

Accounting Firm BPO Features

BPO stands for Business Process Outsourcing. These features are relevant to accounting firms using the product on behalf of clients:
  • Branded dashboards, with a unique view for each client with the accounting form name and logo displayed
  • Client roll-up capabilities that allow users to aggregate data for multiple entities within one client (e.g. data for all convenience stores within a certain zip code)
  • Data consolidation across clients within a vertical market to provide a benchmark for performance measurement/comparison
  • Configuarable alerts for overdue forms and materials
  • Billing bypass options (software vendor bills firm; firm bills clients)
  • Client template cloning for setup, report format, and dashboards
  • Single sign-on for access to all customer accounts
  • Configurable client onboarding questions
  • Cross-client workflow management
  • Industry-specific versioning
  • Legacy system data migration

Excerpts from TrustRadius Buyer's Guide to Accounting Software

Accounting Software Overview

What is Accounting Software?

Financial accounting is a methodology for recording and classifying a firm's financial transactions, including reporting and analysis of these transactions. Accounting transactions are encompassed by the general ledger, which is a complete record of financial transactions over the life of a company. The general ledger (often referred to as “the books”) contains balance sheet and income statement accounts. Balance sheet accounts are assets and liabilities and stockholder's equity, and these accounts show a company's position at a specific moment in time. Income statement accounts include operating revenues and expenses, and show revenues, expenses, losses and net gain for a specified period of time such as a year or a quarter.

Accounting software automates transactional record keeping processes in each of these areas so that accounting transactions can be completed and tracked more efficiently and more accurately. As such, accounting software is quintessential back-office software concerned with record maintenance and regulatory compliance. This is quite distinct from corporate finance, which focuses on “front office” tasks like financial and strategic planning to maximize shareholder return.

But this broad definition of what accounting software does at the most basic level does not begin to describe the range of accounting software varieties on the market.

Types of Accounting Software

There are many different ways to segment the market, but the following broad distinctions can be made regarding the main different types of accounting software.

Accounting versus Enterprise Resource Planning (ERP)

In the software realm, the term “accounting” is sometimes used interchangeably with Enterprise Resource Planning (ERP), but these software categories are not synonymous. ERP platforms certainly include general ledger accounting functionality, but they have evolved as fully-integrated platforms encompassing a broad range of capabilities usually including human resources, corporate performance management, customer service, supply chain management, manufacturing production and logistics, distribution and sometimes CRM. ERP products have evolved over time away from a unique focus on back-office processes and have swallowed entire software categories whole in pursuit of a single-platform approach.

The focus of this guide is accounting products, which necessarily includes ERP suites. But discussion of ERP products will be largely confined to the general ledger accounting aspects of these broad platforms.

Commercial versus fund accounting

Commercial firms use accounting systems to measure profit and loss performance by product, division, and company. Nonprofits have quite different accounting needs. Nonprofit fund accounting must track different funding sources and grants and allocate expenses across these funds. Additionally, funds must be carefully separated according to donors' restrictions. Nonprofits also need to understand the ratio of overhead to program expenses, which is a unique requirement.

In-house versus outsourced (Business Process Outsourcing, or BPO)

Accounting software can be used by firms to manage their own accounting processes or by specialized firms (often public accountants) working on behalf of clients in what is sometimes referred to as a “platform-led BPO model”. Accounting firms using software products to serve multiple clients have an additional set of requirements, which are not a concern for standard users, such as a branded dashboard to share data with customers, or a billing bypass mechanism allowing the vendor to invoice to the CPA firm instead of the end-user client.

On-premise versus cloud software

Traditionally, accounting software products were installed locally on servers located in the firm's location (on-premises software), and this kind of accounting software is still widely used today. Following the dominant trend in the broader software market though, many newer products are offered as cloud products, delivered over the Internet and accessed with a web browser. Older, on-premise-based installed products are sometimes offered in “hosted” deployments, but this is not the same thing. “Cloud” is usually used to mean Software-as-a-Service (SaaS) where the vendor manages the software application and the entire hosting infrastructure on behalf of all customers. The product is designed to be deployed in this one-to-many model and customers access the product through a simple web browser. An example of hosting is where a vendor offers a product that is usually installed on the customer's premises over the Internet, by hosting the software for a single client on a remote server, which is accessed via a client such as the Citrix client or a browser. This one-to-one model is not usually what is meant by when people talk about cloud software.

Accounting Software features

The primary general ledger features of most accounting tools include:

  • Accounts Payable and Accounts Receivable, which includes automation and tracking of payment to vendors and suppliers and, on the receivable side, automation of invoices and collections.
  • Cash management, which provides a complete picture of a company's cash flows, and streamlines payment processing.
  • Bank reconciliation connecting the software to a company's financial institutions in order to reconcile accounting records with checking, savings and credit card accounts. Often month and year closing capabilities are included.
  • Expense management for logging and tracking business expenses and reimbursements, including travel-related expenses, with the ability to tie them to particular projects.
  • Time tracking enabling tracking of billable and non-billable employee time by project.
  • Calculation and collection of sales tax for transactions.
  • Fixed asset management, including location, checkout, maintenance scheduling, audit history, cost and depreciation.
  • Support for transactions across multiple locations or branches and foreign currencies.
  • Regulations compliance whereby the software helps users adhere to typical accounting standards and regulations such as IFRS, GASB, or GAAP.
  • Security features like role-based user permissions and single-sign on capability.
  • Reporting analytics including standardized reports like profit and loss, sales tax return, depreciation, foreign exchange gains and losses, etc., as well as customizable dashboards

In addition to these fundamental features, some accounting and especially ERP products also handle:

  • Inventory management or the ability to track and manage the flow of goods or materials into and out of an inventory.
  • Order management, which covers the ability to process orders, and track them from quote to cash.
  • Payroll management, which handles employee salaries including payroll taxes like income tax withholding, social security, and federal unemployment tax.

Accounting Software Trends

1. Increasing dominance of cloud software

Perhaps the biggest business technology story of the past ten years has been the rapid ascent of the cloud deployment model to a position of unquestioned dominance in the business software sector in general.

This is also one of the most significant areas of discussion in the accounting software realm today. Accounting and financial applications have been slower to switch to a cloud delivery model than some other sectors, partly because of client concerns around change management and potential client impact, in addition to security worries. Indeed, many companies are still using on-premise software like QuickBooks Desktop, AccountEdge, and Sage 50 (formerly Peachtree), all of which are fully featured and well established products. However, a wave of change is starting to build from the low end, as a number of cloud products designed for small businesses have emerged, such as Xero and Wave, as well as cloud products from QuickBooks, AccountEdge, and Sage. Similarly in the mid-market segment, some cloud vendors, most notably Intacct and NetSuite, have emerged to threaten the ground occupied by legacy installed ERP systems. The ERP world is still dominated by on-premise tools, but this too is changing. Cloud-based, or SaaS products (these terms are often used interchangeably even though they are not synonyms) have effectively won the day in other domains like CRM, which is now dominated by cloud pioneer Salesforce.com. The era of installed or on-premise software is coming to a close, and, in the accounting sphere as in others, the future is cloud deployment.

The advantages of the cloud deployment model include:

  • No CapEx expense: No outlay for infrastructure and software. Instead, software is paid for monthly on a pay-as-you-go plan
  • Access the software from anywhere: Users can access the software from anywhere they have an internet connection
  • No upgrade or patch worries: Vendor updates the software and all customers are automatically on the latest version

2. Integration

Strongly related to the cloud deployment model is the growing importance of programmatic integration with other systems. Historically, accounting packages started life as simple general ledger tools for managing debits and credits. Over time though, CFOs began to see that having islands of general ledger functionality was of limited value, and that integration with other financial capabilities was essential. As a result, vendors began to build broader accounting suites, adding things like accounts payable and receivable, payroll, bill payment, inventory management, etc.

The cloud computing revolution transforming the accounting software sector has radically challenged this integrated suite approach paradigm. It is no longer necessary to purchase a fully integrated suite that does all the things you need it to do. The fact that products now reside in the cloud and do not need to be installed, means that it is much easier to pick and choose discrete products to handle different parts of the financial value chain. A financial accounting system can quite easily be hooked up to a best-of-breed payroll system or an expense management system. It's also relatively straightforward to integrate with an off-the-shelf business intelligence tool to produce automated visualizations of key financial metrics like accounts receivable days, debt to equity ratio, ROI and return on capital employed.

But integration is about more than just adding functional capabilities. There is significant value in automating processes so that human beings are freed from the drudgery of simple data entry. For example, a newer generation of cloud products like Wave and Xero are capable of importing bank data directly, eliminating the need for manual data entry. Automating clearing house transactions and data interchange further reduces manual coding. The automation of all data entry by tight integration with these external systems allows CPAs to concentrate on more strategic tasks while the technology handles the mechanical bookkeeping aspects.

3. More choices for small businesses

Intuit has owned the small business accounting space for many years with QuickBooks, and still has about 90% market share. QuickBooks Online, which was released more than a decade ago, but has struggled in the face of emerging competition from pure-play online vendors. A sign of that competition is the fact that a completely modernized version of the QuickBooks Online product was released in 2013, with a more intuitive interface design and separate apps for iPad and iPhone.

New online products like FreshBooks, Kashoo, Wave and Xero have been designed for Internet deployment and each has an elegant, consumer-like design and an intuitive user interface. These products are generally easier to use for novice users than any QuickBooks product. Indeed, many of their customers are former QuickBooks users who have switched because they have found QuickBooks too difficult to use. These new tools are also inexpensive and one of the three—Wave—is actually free (it's supported by advertising revenue).

However, these products still command only a small portion of the market and are generally less fully-featured than the various flavors of QuickBooks Desktop. The on-premise versions of QuickBooks are still very popular with accountants and small businesses for exactly this reason. But the landscape is definitely shifting, and small businesses have more choice than ever before. As evidence of this change Brad Smith, CEO of Intuit, recently reported that “for Intuit's FYE2014 for the first time more new QuickBooks users chose the online version than the a traditional desktop version. Contrast that with our income tax preparation products where that shift happened 7 or 8 years ago.”

4. Cloud solutions also transforming mid-market and enterprise

A similar dynamic is playing out at the mid and high-end where cloud pioneers like NetSuite, Intacct, and Workday are challenging the hegemony of traditional industry behemoths like SAP and Oracle. Many of the on-premise ERP heavyweights have made decades of investment in on-premise solutions only to see flat or declining sales while NetSuite and Intacct, for example, have been experiencing double-digit growth for the last several years. The response of the traditional on-premise vendors, of course, is to reposition their offerings and develop a coherent cloud strategy without abandoning their existing platforms. SAP has achieved some success with its cloud-based HANA technology, while Oracle is struggling to upgrade on-premise customers to its cloud platform, now called Oracle ERP Cloud. However, as with QuickBooks in the small-business market, these vendors do have a very dominant share of the market, and the challenge from new cloud vendors is still nascent.

The three main cloud challengers have relatively low market share with very high growth rates; they are, however, quite different one from another.

Intacct is a small to upper mid-market product serving a range of customer types from technology startups to divisions of multinational corporations. It is focused exclusively on finance applications, with strong integrations to other business applications like Salesforce.com. The Intacct Marketplace showcases a rich ecosystem of third-party integrations, some built by Intacct itself and others built by vendor partners.

NetSuite, on the other hand, is an integrated suite with a broad range of capabilities designed for larger customers. NetSuite's main product includes a fully featured ERP platform with financial management, ecommerce, order management and inventory control, and a CRM, in addition to a professional services automation (PSA) offering. Workday is a true large enterprise platform with an enviable growth rate of around 70% year over year.

5. Business Process Outsourcing

BPO for small and medium firms is not a new phenomenon and is technology-driven, in a model that might be referred to as “platform-led BPO”. This, as the name implies, is all about using technology to facilitate collaboration between firms and public accounting firms and implement industry best practices. The use of technology to create lasting value through automation and best practices depends greatly on accounting software developments, and for that reason has gone through its own evolution. Initially, companies using on-premises products like QuickBooks used outsourcing as a way of securing write-up or financial statement compilation services. This cannot be considered true BPO, but is a kind of precursor. The next phase in the development of this model was accounting firms hosting desktop software on a server such that clients could log into the software using a Citrix client. But the real platform-led BPO tsunami was made possible by the development of cloud software, which enabled the accounting firm and clients to share the same software instance and to see precisely the same data in real time.

Accounting firms frequently offer outsourcing or BPO services to companies who do not have the staff, the skills, or the desire to manage F&A processes themselves, or desire to focus on only their core business, or who want to gain efficiencies and hence lower costs. Services offered span a spectrum from handling a few transactional services such as payroll, accounts payable and receivable, bookkeeping, etc. to offering more strategic services like tax management, yield management, or risk analysis. Specialization in vertical markets is also driving BPO adoption, and accounting firms frequently specialize in a particular market niche. Specialization allows accounting firms to acquire detailed knowledge of the challenges faced by companies in their niche and provide customized dashboards and benchmarking data.

The CPA firm sometimes (but not always) dictates the accounting platform to be used, and most CPA firms have expertise in a number of different cloud platforms to service clients of different types and sizes. Best practice for leading forms is standardize on a few platforms and then dictate the platform, but some firms default to the product that the client firm is already using. There are different models for CPAs in public practice, from referring clients to a particular vendor, to running the software on behalf of a client, to actually re-selling the software. Many accounting products now have CPA versions, which have been specifically designed to facilitate use of their products in this BPO model.

A typical scenario is the CPA firm setting up and running the software on behalf of clients and providing detailed views of the data via dashboards, which allow for mutual decision-making.

The goal of outsourcing from the CFO or financial executive standpoint has always been the same: removing some of the administrative cost overhead from a fairly rote set of operations. The traditional meaning of BPO usually adopted by large companies with over 1,000 employees is the model whereby large service providers like Accenture, Wipro, and Infosys essentially outsource accounting labor offshore to save money by wage differential arbitrage. Although still very widely implemented, this model, some analysts argue, has not achieved the desired aim for the simple reason that a model based on cheap labor is unlikely to be sustainable over the long term. In this model, less attention is paid to things like process standardization and automation through technology that are likely to make a significant difference. In short, a cheap labor model alone is unlikely to lead to sustainable value creation.

The following diagram shows the distribution of accounting products across size of client organization with the traditional sweet spot for CPA outsourcing services.

Diagram showing distribution of accounting products across size of client organization

Factors to Consider when Selecting Accounting Software

The following table summarizes the products featured in this guide, and gives an indication of the size of organizations typically served, whether they are on-premise or installed, and whether they are an ERP suite (vs. financials only). This is a useful guide to orient product selection according to the most basic criteria.

Accounting Software Features

There are also additional factors worth considering.

What add-on capabilities does the product have beyond G/L?

Almost all accounting platforms have additional features beyond the core general ledger transactional accounting capabilities. Many, including small business-oriented solutions, have additional capabilities around things like payroll, time tracking, invoicing, electronic billing, and even business intelligence for analytics and reporting. It's important to understand which additional capabilities are built into the platform and whether they come at an additional cost.

ERP platforms are not all the same

The table above indicates products that are ERP platforms, rather than pure accounting products. However, ERP can mean a lot of different things. For example, although Intacct refers to itself as a “cloud ERP” platform and does include inventory management and project accounting, it is very focused on the accounting function and does not have the broad array of additional capabilities found in some other ERP products. NetSuite on the other hand has a very complete ERP product including supply chain, procurement, warehousing and fulfillment, human capital management and more. The core suite also includes customer relationship management (CRM), professional services automation (PSA), and ecommerce capabilities. Workday, in addition to financials, has its origin in a broad suite of HR tools.

Integration / Connectors

Given the resurgence of a best-of-breed model, it is important to understand the ease of integration to specific 3rd-party systems. Instead of having to build connectors to target systems by using the API (which will be beyond the expertise of many companies), it is preferable if there are pre-built connectors to systems customers need to leverage. For example, Intacct has a connector to Salesforce.com, which can be set up with a few clicks and does not require IT support or help from expensive consultants. Xero has a connector to ADP Run, an HR platform specifically designed for small businesses. NetSuite too has connectors to other systems like Salesforce, Oracle E-Business Suite, SAP ERP and Google Apps. It is important to understand which connectors exist, whether they are third-party connectors or build in to the accounting application, how well they function, and which ones might be on the roadmap.

Usability

Elegant design is not a characteristic normally associated with accounting software, which historically has been functional but far from beautiful. However, some of the newer vendors in the small business sector have started to change that perception. The general trend known as the consumerization of business software has improved software usability dramatically across many different domains as vendors strive to match the completely intuitive experience they have come to expect from products like the iPhone. Accounting products too are starting to benefit from this phenomenon. For example, Xero was designed with usability in mind from the very beginning, and it looks much more like a consumer application than a business application. Intacct, in the mid-market, has also designed a clean, intuitive product with more of a consumer look-and-feel. Well-designed and even beautiful products are products that people love to use. Additionally, intuitive workflows produce far fewer calls to support with the consequent loss in productivity that implies. Product design and usability can no longer be considered simply “nice to have” but are an inherently critical factor in successful product adoption and ROI.

Pages 3-23 are available in the complete TrustRadius Buyer's Guide to Accounting Software and cover

  • The Best Accounting Software for Small Businesses
  • The Best Accounting Software for Mid-size Companies
  • The Best Accounting Software for Enterprises
  • AccountEdge Ratings & User Feedback
  • Accounting by Wave Ratings & User Feedback
  • FreeAgent Ratings & User Feedback
  • FreshBooks Ratings & User Feedback
  • Intacct Ratings & User Feedback
  • Microsoft Dynamics GP Ratings & User Feedback
  • Microsoft Dynamics SL Ratings & User Feedback
  • NetSuite Ratings & User Feedback
  • Oracle eBusiness Suite Ratings & User Feedback
  • Quickbooks Enterprise Ratings & User Feedback
  • Quickbooks for Mac Ratings & User Feedback
  • Quickbooks Online Ratings & User Feedback
  • Quickbooks Pro/Premier Ratings & User Feedback
  • Sage 50 Ratings & User Feedback
  • Sage One Ratings & User Feedback
  • Sage 100 ERP Ratings & User Feedback
  • SAP ERP Ratings & User Feedback
  • Xero Ratings & User Feedback

Accounting, Tax & Budgeting Products

Listings (1-25 of 123)

Abila MIP Fund Accounting

597 Ratings

MIP Fund Accounting™ is a configurable fund accounting solution that allows you to report and track information that is most important to you, your board and your supporters. According to the vendor, the solution can change and grow with you through your most difficult of fund accounting, human...

Sage Intacct

296 Ratings

Sage Intacct is a cloud ERP system targeted at high-growth small and medium-sized businesses – from startups to public companies. The Sage Intacct ERP system includes applications for core financials and accounting, purchasing, order management, and financial reporting and business intelligence....

Adaptive Insights

177 Ratings

Adaptive Insights provides a unified Business Intelligence (BI) and Corporate Performance Management (CPM) suite of cloud-based software used for budgeting, forecasting, reporting, consolidation, dashboards, and business intelligence. The Adaptive Suite is designed for companies and nonprofits of...

Prophix

112 Ratings

Prophix offers innovative Corporate Performance Management (CPM) software aimed to help you improve profitability and minimize risk by automating repetitive tasks and allowing you to focus on what matters. Budget, plan, consolidate and report automatically. According to the vendor, with both cloud...

Avalara

132 Ratings

Avalara AvaTax connects to the software that businesses already have and delivers sales tax decisions based on precise geo-location in more than 12,000 taxing jurisdictions in the U.S.

Xero

205 Ratings

Xero is an online accounting software product for small businesses, as well as for personal finance. Xero competes most often with QuickBooks Online. Its features, beyond the ubiquitous general ledger and double-entry bookkeeping support, include invoicing with quotes, bank reconciliation, purchase...

NetSuite

247 Ratings

NetSuite is a suite of ERP and accounting modules which is sold in various different editions aimed at different size customers. The multi-country, multi-currency version is an additional module called OneWorld. Netsuite is a SaaS system and is not offered in an on-premise edition.

QuickBooks Pro

455 Ratings

Quickbooks Pro is accounting software from Intuit, Inc. It allows a user to create invoices and track sales, enter and pay bills from vendors, and download bank and credit card transactions directly into QuickBooks. It contains analytic features, and its reports can be exported into Excel. Its home...

QuickBooks Online

511 Ratings

QuickBooks Online is a SaaS verison of the QuickBooks product. The monthly fee for this service starts at $13 and can be upgraded to include payroll services, and inventory management (implementing Intuit's acquisition, the Lettuce Inventory Management app, as a built-in component of QuickBooks...

Host Analytics Cloud EPM Suite

102 Ratings

Host Analytics is the leader in cloud-based enterprise performance management (EPM), offering a suite of financial applications for modeling, planning, consolidation, reporting and analytics.

Microsoft Dynamics 365 (formerly Microsoft Dynamics CRM)

394 Ratings

Microsoft Dynamics CRM is a CRM system providing sales, marketing, and service (help desk) functionality. It is offered in two flavors: Online (competing directly with Salesforce) and on-premise. The Microsoft Dynamics family of business applications includes other related products for ERP and...

FreshBooks

109 Ratings

FreshBooks is an accounting service for small businesses. The solution enables users to send and manage invoices, track billable time and collect online payments. The vendor’s value proposition this that their solution provides a straightforward service that simplifies the billing process.

QuickBooks Enterprise Solutions

256 Ratings

QuickBooks Enterprise is a widely-used accounting package designed for smaller organizations. It is the top of the QuickBooks line. Pricing starts at $3,000 for five users, and goes up depending on the number of additional users. They also offer an Advanced Inventory module for $999 / year.

Accounting by Wave

86 Ratings

Accounting by Wave is a fast growing, free, cloud-based accounting platform exclusively for small businesses (less than 9 employees) offered by Wave in Toronto. It supports double-entry bookkeeping and permits unlimited user access to always-available records and reports, as well as unlimited...

Financial Edge NXT

88 Ratings

Financial Edge NXT is a cloud accounting solution from Blackbaud that is designed to provide transparency across teams, security, compliance, and reduce the need for manual processes. The system is a fund accounting solution that provides a general ledger, projects, grants, endowments, accounts...

Microsoft Dynamics GP

136 Ratings

Microsoft Dynamics GP is one of the ERP products in the Dynamics family. This is the original Great Plains product acquired by Microsoft in 2001, and has strong financial management and HR capabilities. Customers tend to be professional services, finance and public sector companies.

CCH Tagetik

33 Ratings

Tagetik is a corporate performance management solution that unifies budgeting, financial planning, consolidation and management reporting.

FreeAgent

31 Ratings

FreeAgent is an cloud-based accounting system specifically designed to meet the needs of small businesses and freelancers from Free Agent Central in the UK. FreeAgent supports many core accounting software features, like automated invoices and expense management, time tracking and configurable...

Sage 50 Accounting

82 Ratings

Sage 50 Accounting is accounting software that helps small businesses stay on top of their finances. Sage 50 lets businesses invoice customers, pay bills, manage inventory, control costs, and pay employees. The solution includes hiigh-level dashboards and in-depth reports.

SAP ERP

224 Ratings

SAP ERP is the latest incarnation of what used to be the R/3 ERP product. It is an enterprise suite comprising Financials (A/P, A/R, accounting, reporting, risk management, etc.), Human Capital Management (HR and Payroll), and Operations (procurement, manufacturing, sales & service). This is an...

Workbooks

28 Ratings

Workbooks offers cloud-based CRM, marketing automation and business applications to the mid-market, at an affordable price. Workbooks extends beyond sales, marketing and customer support to include order management and fulfillment, invoicing and supplier management, and aims to offer a price which...

Sage 100 ERP

54 Ratings

Sage 100 ERP (formerly Sage ERP MAS 90, 200, and 200 SQL) business management software offers a broad range of modules designed to meet the many needs of virtually any business. It encompasses financial operations and accounting, payroll, business intelligence, CRM, eBusiness, manufacturing and...

Vena Solutions

20 Ratings

Vena Solutions provides a financial process automation solution to automate Corporate Performance Management, Regulatory & Compliance, and other finance-related processes.

Accounting, Tax & Budgeting Articles

Buyer's Guide to Accounting Software

  • Compare the pros & cons of the top rated Accounting software vendors
  • Quickly find the right product for SMBs, Mid-Size companies and Enterprises based on 700+ reviews & ratings
  • Explore the key factors to consider when selecting Accounting software
 
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My Money’s on Salesforce: Interview with Tom Brennan, SVP of Marketing at FinancialForce.com

FinancialForce.com is a cloud applications company built on the Salesforce.com platform. TrustRadius talked with Tom Brennan, SVP of Marketing, about the relationship between accounting and customer success management, the company’s recent funding, and the R&D advantage of working with the Salesforce platform, which Brennan sees as “winning the platform race.”

 
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Rougher Sledding Ahead For Cloud Accounting Vendors?

Given that the accounting sector has been slower to switch to the cloud, we surveyed our members to find out the reasons for this slowness, expected growth in the coming year and more.

 
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Top Rated Accounting Software For Small Businesses, Mid-size Companies and Enterprises

Earlier today we announced the release of our TrustMaps™ for Accounting software, which ranks products based on end-user ratings and research frequency by prospective buyers on TrustRadius   
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