Best Accounting Software66Software for tracking revenues and expenses and forecasting future revenue.Visual Lease1https://media.trustradius.com/product-logos/8d/tW/ENW2EF7VM4M6-180x180.JPEGPlannuh2https://media.trustradius.com/product-logos/gV/b1/WWC01NR3VAQJ-180x180.JPEGFiserv Prologue Financials3https://media.trustradius.com/vendor-logos/vn/NC/GX0XQ8WDVXF1-180x180.PNGFiserv Vantage4https://media.trustradius.com/vendor-logos/vn/NC/GX0XQ8WDVXF1-180x180.PNGInfor CloudSuite Financials5https://media.trustradius.com/vendor-logos/qg/yE/TTWOKM9V0PAB-180x180.JPEGKidKare6https://media.trustradius.com/vendor-logos/1P/gZ/T9XSTMMB4FQE-180x180.JPEGMonkeyPesa Accounting Software7https://media.trustradius.com/product-logos/QJ/6F/4PCPH0G2DV7Q-180x180.JPEGScipio ERP8https://media.trustradius.com/product-logos/3K/Dj/TO1ZJZ73QBVW-180x180.JPEGACCEO Acomba9https://media.trustradius.com/product-logos/a4/w3/5FCGWW1J9RRE-180x180.JPEGOracle Profitability and Cost Management Cloud10https://media.trustradius.com/product-logos/cA/l5/CU4W0UOQSU3J-180x180.JPEGCatalyst11https://media.trustradius.com/product-logos/AY/e8/ZDD05N6XW6N1-180x180.PNGpcLegal12https://media.trustradius.com/product-logos/rL/AF/899U5ELJNSR4-180x180.PNGQuestica Performance13https://media.trustradius.com/product-logos/2U/PF/PNX7U0KKAQQ2-180x180.JPEGidu-Concept14https://media.trustradius.com/product-logos/Jn/Hp/3KDKQ519DMLG-180x180.PNGLivaBudget15https://media.trustradius.com/product-logos/MC/eT/80QD1WFOC1AF-180x180.PNGQuestica Budget16https://media.trustradius.com/product-logos/2U/PF/8O3VEEVMCPG6-180x180.JPEGMicrosoft Dynamics 365 Finance17https://media.trustradius.com/vendor-logos/tf/J4/RTX1AO2GSVNS-180x180.JPEGOracle Account Reconciliation Cloud18https://media.trustradius.com/product-logos/cA/l5/H0HAQS3H3UNT-180x180.JPEGAccountants Power19https://media.trustradius.com/vendor-logos/An/Cj/AP7S8TCGBQEX.pngComputerEase Construction Software20https://media.trustradius.com/vendor-logos/hz/o5/GUF2K3BWWJEN.pngBQE Core21https://media.trustradius.com/product-logos/kU/yr/45H8UDK8VQ8U-180x180.JPEGAccountancyManager22https://media.trustradius.com/product-logos/yP/fw/L6FUIJ9IVNAT-180x180.JPEG

Best Accounting Software

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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 include:


  • 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(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. They 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).


Small businesses may also only require bookkeeping software, which focuses on recording financial transactions via a general ledger and managing payroll. Since bookkeeping tools are more simplistic, these products may be easier for simpler businesses without accounting experience to learn and use.


True SMB accounting software is distinguished by having better tools for financial data management, reporting, analytics, tax preparation, etc. SMB accounting tools have become increasingly affordable in recent years, making them the preferred choice for most businesses.


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

  • Support for tax preparation and filing

  • Reporting

  • Mobile functionality

  • CPA access (unless you manage your own finances)

  • Credit card processing, tax preparation, and payroll services

  • Integrations to third-party tools

Accounting Software 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 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 Features

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 the scale of unique accounting tools your business will need. 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. Smaller businesses may only need simple bookkeeping capabilities, and can forego the more advanced reporting, inventory management, and other capabilities. Some companies may require a comprehensive ERP (Enterprise Resource Planning) system, rather than a solution that focuses exclusively on accounting.

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. Common comparison points for buyers include:


  1. Intuitive, easy-to-use UI:

  2. Third-party integrations

  3. Robust reporting capabilities

  4. Cloud-based software

  5. Invoicing capabilities

Start an Accounting comparison

Pricing Information

Accounting software is most frequently offered on a subscription or perpetual license basis, particularly for online software. 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 (101-122 of 122)

We don't have enough ratings and reviews to provide an overall score.

Visual Lease is a Lease Management Software that provides robust lease accounting functionality with a depth of lease administration functionality to properly manage a company's lease portfolio.

We don't have enough ratings and reviews to provide an overall score.

Plannuh headquartered in Boston offers a cloud-based marketing budgeting, collaborative planning, and goal setting platform.

We don't have enough ratings and reviews to provide an overall score.

Prologue Financials from Fiserv, a fully integrated accounting solution, features enhanced, built-in automation and controls and a newly designed user interface, enabling users to increase the efficiency of financial accounting processes.

We don't have enough ratings and reviews to provide an overall score.

Vantage from Fiserv helps the user achieve planning, budgeting and reporting objectives by providing accurate data and a flexible tool set from which to work. Its easy-to-use features are designed to improve productivity and decision making.

We don't have enough ratings and reviews to provide an overall score.

Infor CloudSuite Financials is a cloud-delivered financial suite including general ledger, close management, real-time visibility into customer billing and intercompany billing, reconciliation management and lease accounting, asset accounting and cash management, and extensibility with Infor Treasur…

We don't have enough ratings and reviews to provide an overall score.

KidKare by Minute Menu in Richardson is an accounting system specifically for at home or small daycare centers, allowing them to simplify expenses and manage food programs.

We don't have enough ratings and reviews to provide an overall score.

MonkeyPesa Accounting is an accounting software built as part of a range of software built to serve every aspect of a business. The accounting software includes invoicing, recurring invoices, expenses and other features. It is presented by the vendor as ideal for startups and SME's

We don't have enough ratings and reviews to provide an overall score.

Scipio ERP is an open source enterprise resource planning (ERP) and eCommerce system. Compared to its direct competitors, the software can be seen as a very modern, yet inexpensive alternative. Scipio ERP comes bundled with rich business applications and is best suited for mid- to large size compani…

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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 for…

We don't have enough ratings and reviews to provide an overall score.

Catalyst from EBM Software in Minneapolis is a cloud-based business performance application suite, designed to provide an environment and workflow for understanding business profitability.

We don't have enough ratings and reviews to provide an overall score.

Performance Canvas' pcLegal targets mid-sized to large organizations that want a more unified and Excel-based approach to financial budgeting and planning, modeling, dashboards, profitability analysis, KPI setting, performance reporting, and advanced consolidation. It supports both on premise, host…

We don't have enough ratings and reviews to provide an overall score.

Questica Performance captures key measures and provides dynamic analytic tools to evaluate and improve the effectiveness and efficiency of programs and services. It integrates with Questica Budget, and can be deployed as a web-based tool, on-premise, or cloud. The Questica suite of products are part…

We don't have enough ratings and reviews to provide an overall score.

idu-Concept promises to automate and streamline the manual process of spreadsheet-based budgeting, forecasting and reporting. idu-Concept provides budgeting, forecasting and reporting tools with easy-to-use modules. It is available both on premise and as a cloud solution. The main value proposition…

We don't have enough ratings and reviews to provide an overall score.

LivaBudget is a ready-to-use CPM System. The vendor promises big know-how for most sectors. Users are able to generate Solo and Consolidated budgets in accordance with COA, IFRS, GAAP etc standards. The goal of these solutions is to allow users to run budgeting process faster, make them more accurat…

We don't have enough ratings and reviews to provide an overall score.

The Questica suite of products are part of a comprehensive web-based budgeting preparation, performance, management and data visualization solution that enables public sector and non-profit organizations to improve and shorten their budgeting cycles. Questica Budget is a fully featured, multi-user …

We don't have enough ratings and reviews to provide an overall score.

Microsoft invites users to automate and modernize global financial operations with Dynamics 365 Finance. With it, users can monitor performance in real time, predict future outcomes, and make data-driven decisions to drive business growth. It replaces the finance capability of the former Microsoft D…

We don't have enough ratings and reviews to provide an overall score.

BQE Core is a business management solution built specifically for professional service firms. According to the vendor, BQE Core is a combination of a billing assistant, project management, and accounting solution. The vendor’s value proposition is that Core does the hard work for you, delivering the…

We don't have enough ratings and reviews to provide an overall score.

According to the vendor, AccountancyManager is an award winning CRM & practice management software; built by accountants for accountants and bookkeepers, with every pain point in mind. AccountancyManager provides users with features from on-boarding clients and managing workflow, to automated em…

TrustRadius Top Rated for 2020

2020 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.

Frequently Asked Questions


What is the best accounting software for small businesses?

The best accounting software for small businesses will focus on being easy to use, simple, and be low-cost. QuickBooks, FreshBooks, and Wave Accounting are leaders in small business accounting software.

What is accounting software?

Accounting software documents financial transactions and makes the data accessible for reporting, planning, and tax preparation. It can also serve as a centralized source of financial and inventory information.

What is the best accounting software for accountants?

Many accountants prize software that’s easy for clients to learn, has broader features or 3rd party integrations to support a wide range of client industries, and robust reporting capabilities. Vendors that focus on software for accountants include Xero, QuickBooks, and Sage.

Is Excel an accounting software

No. While Excel has the data recording and management capabilities to track your finances, it lacks most prebuilt features that are found across true accounting features, such as invoicing, prebuilt reporting, and receipt management.

Do I need an accounting software for my small business?

Yes. Using an accounting software, even an entry-level free software, can save you time, labor, and income through their pre-built features and capabilities designed for accounting functions.