Accounting Software

Top Rated Accounting Products

TrustRadius Top Rated for 2021

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. Read more about the Top Rated criteria.

Accounting Software TrustMap

TrustMaps are two-dimensional charts that compare products based on trScore 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 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

(126-147 of 147) Sorted by Most Reviews

Wolters Kluwer EVA Online

EVA Online, from Wolters Kluwer, is presented as a comprehensive accounting package that enables SMEs to manage all aspects of modern accounting. The solution is available in continental Europe, primarily sold in Belgium.

Wolters Kluwer Expert/M

Expert / M from Wolters Kluwer is presented as a versatile and complete accounting package, primarily sold in Belgium.

Wolters Kluwer Regnskabsprogrammer

Regnskabsprogrammer from Wolters Kluwer is accounting software designed to make it easy for users to offer customers a simple overview of their business financial situation. It is primarily sold in Denmark.

Wolters Kluwer SBS Software

Wolters Kluwer's SBS Software supports SMEs and tax advisors in all areas of accounting. SBS product lines include SBS Lohn, Rewe neo, and other tools. The SBS Software suite is deployed primarily in Germany.

Wolters Kluwer Sistema Professionista

Wolters Kluwer's Sistema Professionista is a software solution for accounting and budgetary tax obligations in a single, complete and integrated solution. It is primarily sold in Italy.

Wolters Kluwer Skatteprogram & Skatteprogrammer

Wolters Kluwer's Skatteprogram is presented as a stable, powerful and proven tax program & declaration program for calculation, declaration and analysis. It is deployed primarily in Sweden.

FourQ Systems OneBiller

OneBiller is a full-service software solution that centralizes the intercompany accounting function of multinational organizations to automate manual processes and reduce back-office costs, reduce global compliance and tax risks, and optimize resource efficiency without using a pricey…

Wolters Kluwer Vero

Wolters Kluwer offers Vero Admin and Vero Count, tax & accountancy service management solutions. Vero Admin is a modular suite with CRM, document management, and other tools for SMEs. Vero Count is a modular accounting package for SME accountants.

Vyapar

Vyapar is a basic Business Accounting, Invoicing & Inventory app made for small Businesses, that lets users manage, invoices/receipts, estimates, payments, inventory, online orders and clients. The vendor presents it as an ideal solution to fulfill all Business Accounting needs.…

Zeni

Zeni

Starting Price $299

Zeni is an AI-powered finance team for startups from Zeni, Inc in Palo Alto, boasting capabilities like intelligent bookkeeping, accounting, and CFO services.

Enerpize

Enerpize is a business management software that enables SMEs and entrepreneurs to manage sales, finance, accounting, inventory, employees, work orders, customers, bookings, assets, and other aspects of the business. Enerpize has a POS system that allows users to sell products, process…

Cash Flow Frog

Cash Flow Frog is a cash flow solution that integrates into a QuickBooks or Xero account and automatically creates and updates cash flow forecasts. Users can create scenarios and forecasts to be better prepared. Cash Flow Frog's goal is to help businesses fulfill their potential…

Rokdi Billing Software

ROKDI is a GST-ready Accounting and Invoicing tool that enables users to generate detailed reports, manage stock, and check the business status anytime with this online as well as offline billing software for any type of business. It has GST compliance and automates business workflows…

Accounting Power

Accounting Power is an accounting system sold to professional accountants, that aims to enable users to control every aspect of an accounting practice and can overcome the challenges imposed by accounting systems that are sold directly to clients.in addition, Accounting Power includes…

Yardi Corom

Yardi Cororm is a cloud-based software platform that combines corporate leases and deals with an accounting system. Its features aim to put the user in charge of managing an entire lease portfolio end-to-end. The user can analyze, track, collaborate, and managea deal pipeline to…

Budgyt

Budgyt

Starting Price $199

Budgyt is a platform made to simplify business budgeting. With built-in functions designed for data integrity, team collaboration, and scenario planning & analysis, Budgyt presents what the vendor describes as an optimized budgeting experience that rids users of complex, error-…

Multiview Financial Software

Multiview Financials is a full-featured advanced financial management solution that includes: Financial Reporting and Analytics, General Ledger with Budgeting & Forecasting, Accounts Payable, Accounts Receivable, Purchasing with Requisitions, as well as Inventory, Sales/Bid Order…

Deskera Books

Deskera Inventory is an inventory management software offering from Deskera. It includes features such as items master management and complete visibility of the entire supply chain.

Microsoft Dynamics 365 Finance

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…

Deltek + ComputerEase

ComputerEase Construction Software is a cloud-based accounting and construction management suite now supported by Deltek since the 2019 acquisition. The platform is designed to handle accounting needs specific to companies in the construction industry (e.g. HVAC, plumbing, demolition,…

AccountancyManager

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,…

Saviom Enterprise Resource Management (ERM)

Saviom Software headquartered in Sydney offers Saviom Enterprise Resource Management (ERM), designed to provide project managers with demand and project forecasting and human resource budgeting, allocation, and scheduling to meet enterprise needs, efficiently.

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.