Best Accounting Software66Software for tracking revenues and expenses and forecasting future revenue.Sage 300cloud (formerly Sage 300 ERP)1https://media.trustradius.com/vendor-logos/0S/qn/EL9CGCQPN00J-180x180.PNGSage Business Cloud Accounting (formerly Sage One Accounting)2https://media.trustradius.com/vendor-logos/0S/qn/EL9CGCQPN00J-180x180.PNGQuickBooks Self-Employed3https://media.trustradius.com/vendor-logos/Ux/6E/9DBE4N6E02Z0-180x180.PNGPatriot Software4https://media.trustradius.com/product-logos/MV/Pp/Z3F22B6IPLIR-180x180.JPEGAcumatica5https://media.trustradius.com/vendor-logos/9d/jT/L9M9UBARBFTP.pngQuickBooks Online Advanced6https://media.trustradius.com/product-logos/Zf/i8/HX5JAR0BXNTF-180x180.PNGFinancial Edge7https://media.trustradius.com/vendor-logos/sC/EJ/TT0621FHLMRF-180x180.PNGPaychex Accounting Online8https://media.trustradius.com/vendor-logos/xG/3x/USFF4MDQRSML-180x180.PNGFinancialForce Accounting9https://media.trustradius.com/vendor-logos/44/uC/LC944QEMT46M-180x180.JPEGZipBooks10https://media.trustradius.com/product-logos/H2/y2/1PPPN1H156L9-180x180.PNGSpreadsheet Server11https://media.trustradius.com/vendor-logos/iP/z8/P2N52HGDLMK9-180x180.JPEGKashoo12https://media.trustradius.com/vendor-logos/Yj/Ml/GGVZ85LZ2OE1.pngMYOB13https://media.trustradius.com/product-logos/e5/Sm/1N6SNKGU276B-180x180.PNGOracle Financials Cloud14https://media.trustradius.com/vendor-logos/e7/6G/F3JK0T3RS775-180x180.PNGDeltek Ajera15https://media.trustradius.com/vendor-logos/nw/ib/C836CS2HP3J0-180x180.JPEGSage 500 ERP16https://media.trustradius.com/vendor-logos/0S/qn/EL9CGCQPN00J-180x180.PNGAccounting Seed17https://media.trustradius.com/product-logos/WM/Ch/764MN5A5N7IU-180x180.PNGGoDaddy Bookkeeping18https://media.trustradius.com/vendor-logos/8n/W9/BACICQRZJTEL-180x180.PNGWorkday Financial Management19https://media.trustradius.com/product-logos/Zq/db/ZSNXBIJQ2L23-180x180.JPEGHubble20https://media.trustradius.com/product-logos/Su/9n/NGFERRKOACTK-180x180.JPEGScaleFactor21https://media.trustradius.com/product-logos/MG/fJ/AGNKO62IWEVW-180x180.JPEGPlanGuru22https://media.trustradius.com/vendor-logos/3f/Oe/LTWXFTKTEHTZ.pngLessAccounting23https://media.trustradius.com/product-logos/3p/XP/17HNCRLT1VGM.jpegXactly Commission Expense Accounting (CEA)24https://media.trustradius.com/vendor-logos/wk/Ur/70OQ7U5LF2RN-180x180.PNGOracle JD Edwards World25https://media.trustradius.com/vendor-logos/e7/6G/F3JK0T3RS775-180x180.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 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 (26-50 of 122)

Sage 300cloud (formerly 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…

23 Ratings

Acumatica delivers a set of cloud-based business software applications with dashboards, reporting tools, integrated document management, centralized security, and customization tools.

QuickBooks Online Advanced is a SaaS-based accounting software designed to scale with growing businesses. It includes the functionalities of QuickBooks Online, as well as more robust business analytics, customization, and resource management.

Paychex Accounting Online is accounting and financial management software that is hosted in the cloud. This software automates invoicing and billing, tracks expenses and income, and provides todayês small business owner with real-time visibility of their cash flow and financial position. Delivered a…

FinancialForce is a native Salesforce application built on the Force.com platform. FinancialForce Accounting is a financial management system that runs in the cloud. The product can be used for multi-dimensional analysis and is designed to support companies of all sizes.

15 Ratings

ZipBooks is an accounting software solution for small business owners and accountants. Users can track expenses, manage their team, send recurring invoices and manage projects.

The Spreadsheet Server platform is designed to work as a Microsoft add-in to provide live reporting data and analysis from the user’s ERP solution into Excel. The vendor aims to help users eliminate the hassle of re-keying or downloading any data into spreadsheets make that spreadsheet an integral p…

10 Ratings

Kashoo, founded in 2008 and based in Vancouver, offers a simple cloud-based double-entry accounting platform for small businesses. It is mobile-accessible and includes many of the typical features required of accounting platforms, including receipt capture, automated invoicing, tax preparation, fina…

28 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.

Oracle Financial Cloud is an enterprise-level suite of financial applications. It can help centralize accounting processes and data from across an organization and integrate with 3rd party organizations and data formats.

12 Ratings

Deltek's Ajera is an integrated project management and accounting suite for architectural and engineering (A & E) companies that includes light payroll functionality and also can integrate with third-party payroll providers (ADP, Paychex, Quickbooks, etc.). The product was acquired with original dev…

25 Ratings

Sage 500 ERP includes accounting and finance, distribution and supply chain, and manufacturing operations support modules. The latest Sage 500 release includes accounts payable enhancements, credit card processing, and general updates, as well as updates to the solution's modules.

GoDaddy Bookkeeping (formerly Outright) is a cloud-based bookkeeping and accounting automation platform targeted at small businesses. It contains basic bookkeeping and reporting features meant to simplify the process of accounting for small businesses and their accountants, ensuring taxes are filed …

Workday Financial Management is built on a global foundation that provides organizations with the core financial management capabilities expected from a modern cloud solution. It goes well beyond just managing financial processes to achieve greater insight, improve financial consolidation and reduce…

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—ext…

6 Ratings

Austin-based ScaleFactor provides their small business accounting automation platform designed to combine software and expert assistance to SMBs and remove concern for financial, tax and accounting challenges.

2 Ratings

PlanGuru is business budgeting, forecasting and performance review software. The company says the product is a good fit for entrepreneurs, small businesses, mid to large companies, nonprofits and accountants.

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 and …

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 World. The product is primarily aimed at medium-sized companies which are not a good fit for the E-Busines…

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.