Best Accounting Software66Software for tracking revenues and expenses and forecasting future revenue.Sage Intacct1https://media.trustradius.com/product-logos/Sh/9i/IQIL44K5ALCH-180x180.JPEGMIP Fund Accounting (formerly Abila MIP)2https://media.trustradius.com/product-logos/vJ/iG/BC1772P0KCTC-180x180.PNGQuickBooks Desktop Pro3https://media.trustradius.com/product-logos/lm/8u/QI137DVUHUOS-180x180.JPEGXero4https://media.trustradius.com/product-logos/5n/xQ/WJ768TJ4DRMM-180x180.PNGQuickBooks Online5https://media.trustradius.com/product-logos/lm/8u/S54FMB1DKTXJ-180x180.JPEGNetSuite6https://media.trustradius.com/product-logos/gf/51/NBI0OUJCH1SA-180x180.JPEGBlackLine7https://media.trustradius.com/vendor-logos/Cg/Pj/W43T9RFMQODW-180x180.JPEGQuickBooks Desktop Enterprise8https://media.trustradius.com/product-logos/lm/8u/1SCUH2WHQXSH-180x180.JPEGWave Accounting9https://media.trustradius.com/product-logos/6z/sq/TFABTGMTZHT4-180x180.PNGFreshBooks10https://media.trustradius.com/product-logos/DH/Ya/UHCT6ZK0V3PI-180x180.GIFQuickBooks Desktop Premier11https://media.trustradius.com/product-logos/lm/8u/XJZ17T7UEUPU-180x180.JPEGMicrosoft Dynamics GP12https://media.trustradius.com/vendor-logos/tf/J4/RTX1AO2GSVNS-180x180.JPEGSAP Business One13https://media.trustradius.com/vendor-logos/sW/OA/CZD3RG21S16S-180x180.JPEGSAP ERP14https://media.trustradius.com/vendor-logos/sW/OA/CZD3RG21S16S-180x180.JPEGFinancial Edge NXT15https://media.trustradius.com/product-logos/7U/Gn/WH7O6ZWHT580-180x180.PNGOracle EPM Cloud16https://media.trustradius.com/vendor-logos/e7/6G/F3JK0T3RS775-180x180.PNGSage 50cloud Accounting (formerly Sage 50 Accounting)17https://media.trustradius.com/vendor-logos/0S/qn/EL9CGCQPN00J-180x180.PNGQuickBooks Desktop for Mac18https://media.trustradius.com/product-logos/lm/8u/KE82B3V9KK3D-180x180.JPEGOracle Financials19https://media.trustradius.com/vendor-logos/e7/6G/F3JK0T3RS775-180x180.PNGVena Solutions20https://media.trustradius.com/product-logos/Xw/3i/0ZXHVCE0ZJPA-180x180.JPEGFreeAgent21https://media.trustradius.com/product-logos/Ya/om/QHURFNZULT02-180x180.PNGOracle JD Edwards EnterpriseOne22https://media.trustradius.com/vendor-logos/e7/6G/F3JK0T3RS775-180x180.PNGZoho Books23https://media.trustradius.com/product-logos/W9/HT/PGIFOCRRCL7F-180x180.PNGMicrosoft Dynamics 365 Business Central (formerly Dynamics NAV)24https://media.trustradius.com/vendor-logos/tf/J4/RTX1AO2GSVNS-180x180.JPEGSage 100cloud (formerly Sage 100 ERP)25https://media.trustradius.com/vendor-logos/0S/qn/EL9CGCQPN00J-180x180.PNG

Best Accounting 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.

Accounting 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 (acquired by Sage), 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
  • Configurable 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

Accounting Software Comparison

To compare different accounting platforms, consider what unique tools pertaining to accounting you will need to utilize. Most accounting solutions will include standard accounting capabilities like General Ledger (GL), Accounts Payable and Accounts Receivable (AP/AR), bank reconciliation, fixed asset management, expense tracking, invoicing capabilities, and financial reporting capabilities. Some businesses will need additional features like inventory management, payroll capabilities, dedicated budgeting features, and cash flow analysis.


Some companies may require a comprehensive ERP (Enterprise Resource Planning) system, rather than a solution that focuses exclusively on accounting. ERP systems are broader resource management systems,and have a wider range of capabilities including things like procurement, order management, CRM, supply chain management, inventory management, logistics and human resource management functionality. Even though many businesses have a unique set of functionality requirements, there are a few accounting ‘must-have’ criteria that a majority of buyers agree on.


Other important features also include these attributes such as:

  1. Intuitive, easy-to-use UI:

  2. Third-party integrations

  3. Robust reporting capabilities

  4. Cloud-based software

  5. Invoicing capabilities

Pricing Information

Accounting software is most frequently offered on a subscription or perpetual license basis. For very small use cases, some software is offered on a 1-purchase basis. For small businesses, subscriptions are available for less than $100/month. however, pricing can increase and vary more as buyers' accounting needs scale in size and complexity. Products for larger organizations may be priced by the modules selected within the product, required integrations, or number of transactions or users.

For large businesses and enterprises, accounting capabilities are frequently included with Enterprise Resource Planning (ERP) products. These platforms can be much more expensive than standalone accounting software. ERPs can also provide additional capabilities that may be more efficient to bundle with accounting processes if a businesses needs both products.

More Resources

Accounting Products

Listings (1-25 of 123)

Sage Intacct

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Top Rated
908 Ratings

Sage Intacct is a cloud ERP system targeted at high-growth small and medium-sized businesses. Intacct includes applications for core financials and accounting, purchasing, order management, and financial reporting and business intelligence. It also integrates with 3rd party software like Salesforce.

MIP Fund Accounting™ is a configurable fund accounting solution. The solution includes functionality for fund accounting, procurement, budgeting, payroll, human resources, timekeeping, fixed asset management, grant management, and dashboards for nonprofits and government agencies.

QuickBooks Desktop Pro

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Top Rated
612 Ratings

Quickbooks Desktop Pro is accounting software from Intuit, Inc. It includes core accounting features, plus analytics and exportable reports. It is offered in on-premise and SaaS forms.

Xero

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Top Rated
277 Ratings

Xero is an online accounting software product for small businesses and personal finance. Its features beyond general ledger and double-bookkeeping include quotable invoicing, bank reconciliation, purchase order and expense management, and tax management. Third party apps can extend its features furt…

QuickBooks Online

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Top Rated
768 Ratings

QuickBooks Online is a SaaS version of the QuickBooks product. It contains all of the features found in the local version. Higher-priced plans include greater automation, payment management, inventory and time tracking, and analytics features.

NetSuite

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Top Rated
355 Ratings

NetSuite is a suite of ERP and accounting modules which is sold in various 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.

BlackLine

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82 Ratings

BlackLine automates the the processes required to finalize periodic closing of the books. Beyond close/reconciliation management the product includes capabilities to enhance the management and control of financial processes throughout the accounting cycle.

QuickBooks Desktop Enterprise

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Top Rated
345 Ratings

QuickBooks Desktop 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.

Wave Accounting

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Top Rated
120 Ratings

Wave Accounting is a free, cloud-based accounting platform exclusively for small businesses. It supports double-entry bookkeeping and permits unlimited user access, invoicing, and expense management. Wave Accounting integrates with Wave's invoicing, receipt scanning, payment processing and payroll a…

Top Rated
144 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.

Microsoft Dynamics GP

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176 Ratings

Microsoft Dynamics GP is an ERP software with accounting capabilities. It includes various packs for customizability and features tailored to specific industries’ needs. GP is offered as a perpetual license or subscription.

SAP Business One

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160 Ratings

SAP Business One is an integrated enterprise resource planning (ERP) solution for small and medium-sized businesses, The product encompasses functionality around sales, customer relationships, inventory, operations, financials and human resources.

SAP ERP

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Top Rated
289 Ratings

SAP ERP 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 enterprise level product designed for large organizations.

Financial Edge NXT is a cloud accounting solution tailored for nonprofits that provides a general ledger, projects, grants, endowments, accounts payable and receivable, fixed assets, banking, and more. It offers real-time reporting, with one-click drill-down functionality and export capability.

Oracle EPM Cloud

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162 Ratings

Oracle’s complete EPM suite gives you the agility you need to respond to change faster, promises the vendor. Combined with the innovation and simplicity of the cloud, it enables companies of any size to drive accurate and agile plans across finance and operational lines of business, accelerate fina…

QuickBooks Desktop for Mac

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77 Ratings

Quickbooks Desktop for Mac is an accounting software designed for Mac users. It is designed to integrate with Apple iCloud. It provides core accounting features in line with the rest of the Quickbooks Desktop product line.

26 Ratings

Vena Solutions provides a financial process automation solution to automate Corporate Performance Management, accounting and budgeting, Regulatory & Compliance, and other finance-related processes. It is scaled for medium to large-sized organizations.

35 Ratings

FreeAgent is an cloud-based accounting system designed for small businesses and freelancers. FreeAgent supports many core accounting features and bank reconciliation, payroll, tax management, project level accounting, and multiple currency support. It is mobile-accessible, and integrates with many a…

Oracle JD Edwards EnterpriseOne

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96 Ratings

JD Edwards was an independent ERP vendor which was acquired by PeopleSoft in 2003. PeopleSoft, in turn, was acquired by Oracle in 2005, and the JD Edwards product line became Oracle JD Edwards EnterpriseOne. The product is primarily aimed at medium-sized companies. Like many ERPs, it combines …

51 Ratings

Zoho Books is an accounting solution that is designed to help small businesses manage their finances. This solution includes dashboards and a wide variety of reports. Business users can automate tasks and set up custom workflows. The vendor offers a 14 day free trial.

Sage 100cloud (formerly Sage 100 ERP) 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 distribution.

TrustRadius Top Rated for 2019

2019 Top Rated Accounting Software

There are plenty of options out there, but here's our shortlist of the best Accounting Software. These products won a Top Rated award for having excellent customer satisfaction ratings. The list is based purely on reviews; there is no paid placement, and analyst opinions do not influence the rankings. To qualify, a product must have 10 or more recent reviews and a trScore of 7.5 or higher, indicating above-average satisfaction for business technology. The products with the highest trScores appear first on the list. Read more about the Top Rated criteria.