Best Accounting & Budgeting Software66Software for tracking revenues and expenses and forecasting future revenue.Priority AccountEdge1https://dudodiprj2sv7.cloudfront.net/product-logos/F3/oe/1X3DC47TCPXM.PNGSage 100 ERP2https://dudodiprj2sv7.cloudfront.net/vendor-logos/0S/qn/EL9CGCQPN00J-180x180.PNGMicrosoft Dynamics SL3https://dudodiprj2sv7.cloudfront.net/vendor-logos/tf/J4/RTX1AO2GSVNS-180x180.JPEGSage 300 ERP4https://dudodiprj2sv7.cloudfront.net/vendor-logos/0S/qn/EL9CGCQPN00J-180x180.PNGMicrosoft Dynamics AX5https://dudodiprj2sv7.cloudfront.net/vendor-logos/tf/J4/RTX1AO2GSVNS-180x180.JPEGMicrosoft Dynamics NAV6https://dudodiprj2sv7.cloudfront.net/vendor-logos/tf/J4/RTX1AO2GSVNS-180x180.JPEGSage One Accounting7https://dudodiprj2sv7.cloudfront.net/vendor-logos/0S/qn/EL9CGCQPN00J-180x180.PNGZoho Books8https://dudodiprj2sv7.cloudfront.net/product-logos/3g/r3/PGIFOCRRCL7F.PNGAvidXchange9https://dudodiprj2sv7.cloudfront.net/product-logos/65/5U/59BGH0GMDAAB.JPEGOracle JD Edwards EnterpriseOne10https://dudodiprj2sv7.cloudfront.net/vendor-logos/VC/02/T4E108T4IWP2-180x180.PNGSynoptix11https://dudodiprj2sv7.cloudfront.net/product-logos/G1/X4/M8T0NQHOLEV7.PNGOracle Enterprise Performance Management Cloud12https://dudodiprj2sv7.cloudfront.net/product-logos/TJ/0g/NZRRNBHTIIDP.JPEGPaychex Accounting Online13https://dudodiprj2sv7.cloudfront.net/vendor-logos/go/PY/LFQO9ZT9HG2S-180x180.PNGCoupa14https://dudodiprj2sv7.cloudfront.net/vendor-logos/Dl/Ct/QWT2HZEWCQDI-180x180.JPEGQuickBooks Self-Employed15https://dudodiprj2sv7.cloudfront.net/vendor-logos/Ux/6E/9DBE4N6E02Z0-180x180.PNGSAP Business ByDesign16https://dudodiprj2sv7.cloudfront.net/vendor-logos/sW/OA/CZD3RG21S16S-180x180.JPEGZipBooks17https://dudodiprj2sv7.cloudfront.net/product-logos/fi/Va/HA6KVOEHH5QN.PNGFinancial Edge18https://dudodiprj2sv7.cloudfront.net/vendor-logos/sC/EJ/TT0621FHLMRF-180x180.PNGMYOB19https://dudodiprj2sv7.cloudfront.net/vendor-logos/C4/H4/ARBBPLJ71TEA-180x180.PNGHubble20https://dudodiprj2sv7.cloudfront.net/product-logos/zT/yY/NGFERRKOACTK.JPEGFinancialForce Accounting21https://dudodiprj2sv7.cloudfront.net/vendor-logos/9C/7q/GIVK1N05Z022-180x180.PNGSage 500 ERP22https://dudodiprj2sv7.cloudfront.net/vendor-logos/0S/qn/EL9CGCQPN00J-180x180.PNGLessAccounting23https://dudodiprj2sv7.cloudfront.net/product-logos/3p/XP/17HNCRLT1VGM.jpegWorkday Financial Management24https://dudodiprj2sv7.cloudfront.net/product-logos/65/p9/ZSNXBIJQ2L23.JPEGKepion Planning25https://dudodiprj2sv7.cloudfront.net/product-logos/tS/K8/F25RG5C6HVHF.PNG

Accounting & Budgeting Software

Best Accounting & 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

Accounting & Budgeting Products

Listings (26-50 of 119)

Top Rated
31 Ratings

AccountEdge is a small business accounting software for Mac and Windows users. AccountEdge allows business owners to organize, process, and report on their financial information. Its features include accounting, integrated payroll, sales and purchases, contact management, inventory, and time bill...

58 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 d...

61 Ratings

Sage 300 ERP is a business management solution that includes strong accounting and financials, as well as multi-currency and multi-language capabilities. Built on accounting best practices, users will be able to track, control, and plan the financial health of their business.

Top Rated
108 Ratings

Microsoft Dynamics AX is one of the ERP products in the Dynamics family. This product (originally called Axapta, and acquired through the Navision acquisition) is designed for multi-site and multi-country operations and customers tend to be in manufacturing and distribution verticals.

32 Ratings

Sage One Accounting is online accounting software made to simplify life for small business owners, entrepreneurs, and freelancers by providing the functions needed to take care of daily business to-dos. Users can create and send professional quotes and invoices, track income and expenses and kn...

38 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.

13 Ratings

Synoptic provides ERP financial reporting tools and analysis. This solution is designed to deliver real-time data. The vendor’s value proposition is that their solution empowers users to create financial and operational reports with spreadsheet ease of use.

19 Ratings

Coupa Unified Spend Suite is a solution for procurement, invoicing, expenses, sourcing, inventory, contract lifecycle management, budgets, analytics, etc.

33 Ratings

SAP Business ByDesign is SAP's cloud ERP suite offering, launched in 2007, designed for the SMB market. The product includes a broad range of capabilities including financials, human resources, sales, procurement, customer service, and supply chain. Business ByDesign is a new platform, delivere...

25 Ratings

MYOB now has a suite of subscription-based products and a browser-based accounting product that was released in August 2010. On 24 October 2012, MYOB released AccountRight Live - the cloud-enabled version of its flagship product. MYOB competes with Xero and QuickBooks.

8 Ratings

Hubble® is an integrated suite of performance management apps from insightsoftware.com. This solution offers reporting, analytics and planning in a single real-time solution. The vendor says Hubble integrates a company’s critical business systems so users at all levels have access to live data—...

3 Ratings

LessAccounting is a simplified, core, cloud-based accounting platform for small businesses from LessAccounting.com based on Jacksonville, Florida. It contains expense management features (sorting by project and expense type, tracking and reminders), automated invoicing, simple business overview a...

2 Ratings

Kepion is performance management software that integrates planning, budgeting and forecasting capabilities with analytics, scorecards and dashboards to optimize collaboration and communication within an organization. According to the vendor, Kepion 6.0 simplifies the following business processes...