Best Accounting & Budgeting Software66Software for tracking revenues and expenses and forecasting future revenue.TruckMate1https://media.trustradius.com/product-logos/e6/dr/H3NQKJCLNMKP-180x180.JPEGFlexi Software2https://media.trustradius.com/product-logos/Xh/rD/692PQZE82F5H-180x180.JPEGReportFYI3https://media.trustradius.com/product-logos/Ds/Ow/52RO8SMAAK5P-180x180.PNGCloudFYI4https://media.trustradius.com/product-logos/Nt/Nv/C2RFTQ7XEXDS-180x180.PNGCurrencyFYI5https://media.trustradius.com/product-logos/21/mf/54AMJF542MPB-180x180.PNGBQE Core6https://media.trustradius.com/product-logos/kU/yr/45H8UDK8VQ8U-180x180.JPEGOracle Account Reconciliation Cloud7https://media.trustradius.com/product-logos/cA/l5/H0HAQS3H3UNT-180x180.JPEGOracle Profitability and Cost Management Cloud8https://media.trustradius.com/product-logos/cA/l5/CU4W0UOQSU3J-180x180.JPEGOracle Accounting Hub Cloud9https://media.trustradius.com/vendor-logos/VC/02/T4E108T4IWP2-180x180.PNGQuestica Budget10https://media.trustradius.com/product-logos/2U/PF/8O3VEEVMCPG6-180x180.JPEGQuestica Performance11https://media.trustradius.com/product-logos/2U/PF/PNX7U0KKAQQ2-180x180.JPEGQuestica OpenBook12https://media.trustradius.com/product-logos/2U/PF/8NA38SHR8XBL-180x180.JPEGScipio ERP13https://media.trustradius.com/product-logos/3K/Dj/TO1ZJZ73QBVW-180x180.JPEGSAP Financial Statement Insights14https://media.trustradius.com/vendor-logos/sW/OA/CZD3RG21S16S-180x180.JPEGKlientscape Quick Accounts15https://media.trustradius.com/product-logos/yG/PC/UKIKITKA90MK-180x180.JPEGidu-Concept16https://media.trustradius.com/product-logos/Jn/Hp/3KDKQ519DMLG-180x180.PNGA3 Modeling17https://media.trustradius.com/product-logos/Rz/Zt/C3F6AH8XU626-180x180.JPEGNetYield18https://media.trustradius.com/product-logos/3H/KG/EC5RO0C816FQ-180x180.PNGZoho Finance Plus19https://media.trustradius.com/vendor-logos/Tb/S3/GM6HDTKVEP4R-180x180.PNGACCEO Acomba20https://media.trustradius.com/product-logos/a4/w3/5FCGWW1J9RRE-180x180.JPEGACCEO Avantage SMB21https://media.trustradius.com/vendor-logos/Rb/6e/DZTTN139QH78-180x180.JPEGOpenGov22https://media.trustradius.com/vendor-logos/T9/0i/NSCD724X8XH1-180x180.jpgAccountancyManager23https://media.trustradius.com/product-logos/yP/fw/L6FUIJ9IVNAT-180x180.JPEGSaviom Enterprise Resource Management (ERM)24https://media.trustradius.com/vendor-logos/so/A8/JWM9TF1ZFBJG-180x180.JPEGVisual Lease25https://media.trustradius.com/product-logos/8d/tW/ENW2EF7VM4M6-180x180.JPEG

Accounting & Budgeting Software

Best Accounting & Budgeting Software

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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 (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

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 & Budgeting Products

Listings (101-125 of 130)

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TMW Systems is the leading Transportation Management Software (TMS) provider to for-hire and private fleets, brokerage and 3PL organizations. Founded in 1983, TMW has focused exclusively on providing mission-critical enterprise software to the transportation industry, including asset-based and no...

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FlexiInternational Software, Inc., based in Shelton, Connecticut, provides financial management software.

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FYIsoft was founded in 2012 to provide innovative financial reporting solutions that enable companies to gain accurate insight into their corporate finances. FYIsoft’s financial report writer can be deployed in the cloud (CloudFYI) or on-premises (ReportFYI), and offers a currency translation mod...

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FYIsoft was founded in 2012 to provide innovative financial reporting solutions that enable companies to gain accurate insight into their corporate finances. FYIsoft’s financial report writer can be deployed in the cloud (CloudFYI) or on-premises (ReportFYI), and offers a currency translation mod...

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FYIsoft was founded in 2012 to provide innovative financial reporting solutions that enable companies to gain accurate insight into their corporate finances. FYIsoft’s financial report writer can be deployed in the cloud (CloudFYI) or on-premises (ReportFYI), and offers a currency translation mod...

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BQE Software offers time billing and project management solutions. BQE Software has been in the business for 19 years, has over 300,000 users worldwide and has been a 5 Star award-winner from the CPA Technology Advisor for the last 10 years in a row. Available as stand-alone solutions, self-hoste...

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Questica is a Burlington, Ontario-based company that provides online budgeting and performance management software for government, healthcare, education, and non-profit organizations. The vendor offers three products: Questica Budget, Questica Performance, and Questica Openbook, a data visualizat...

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Questica is a Burlington, Ontario-based company that provides online budgeting and performance management software for government, healthcare, education, and non-profit organizations. The vendor offers three products: Questica Budget, Questica Performance, and Questica Openbook, a data visualizat...

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Questica is a Burlington, Ontario-based company that provides online budgeting and performance management software for government, healthcare, education, and non-profit organizations. The vendor offers three products: Questica Budget, Questica Performance, and Questica Openbook, a data visualizat...

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We at KlientScape Software are a team that believes in enriching lives, simplifying work and management through the use of clever and well thought out software and web apps. We specialise in building custom-build and packaged software to suit every need and Websites that are built from scratch bu...

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Innovative financial management solutions Designed with your business in mind Established in 1998, idu was created by accountants and financial systems specialists to deliver smart software solutions for budgeting and financial reporting across all standard ERP and financial systems. Our flagsh...

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A3 Modeling aims to help finance teams by supercharging end-user Excel into Enterprise Excel. According to the vendor, Excel models built with A3 scale to 100X, support up to 1000 users, and consolidate in real-time… no links, no macros, no email… and they are ready-made for secure, multi-user, e...

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Net Yield is a complete accounting and inventory management solution available for deployment on your server or in the cloud. We power the one-person operation to some of America's largest seafood giants and everything in between. With over 30 years of seafood industry experience, our advisors c...

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Zoho Finance Plus is an integrated accounting suite for small businesses, featuring invoice and AP / AR management, accounting, and billing management.

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ACCEO Solutions headquartered in Montreal now support the Acomba Accounting Suite, a software suite for SMBs featuring many integratable modules, including Acomba e-commerce, Acomba inventory and stock controls, Acomba orders management, and Acomba payroll module. Acomba is available exclusively ...

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ACCEO offers the Avantage SMB suite of accounting and ERP applications for Canadian medium sized and smaller entities, supporting at the basic level accounting functionality and expanding to provide total resource planning and management.

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OpenGov headquartered in Redwood City offers their accounting and multi-fund reporting platform, for governments.

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AccountancyManager is an award winning CRM & practice management software; built by accountants for accountants and bookkeepers, with every pain point in mind. From onboarding clients and managing workflow, to automated emails/sms and custom forms (new method of data gathering). With Acco...

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Founded in 1995, Visual Lease provides a cloud-based platform that integrates with all major accounting and resource planning systems with features such as FASB/IASB accounting modules. Visual Lease is headquartered in Woodbridge, NJ.