Best Accounting & Budgeting Software66Software for tracking revenues and expenses and forecasting future revenue.Hubble1https://media.trustradius.com/product-logos/Su/9n/NGFERRKOACTK-180x180.JPEGWorkday Financial Management2https://media.trustradius.com/product-logos/Zq/db/ZSNXBIJQ2L23-180x180.JPEGGoDaddy Bookkeeping3https://media.trustradius.com/vendor-logos/tx/wN/QT52XO2PNEB0-180x180.PNGOracle Financials Cloud4https://media.trustradius.com/vendor-logos/VC/02/T4E108T4IWP2-180x180.PNGSage 500 ERP5https://media.trustradius.com/vendor-logos/0S/qn/EL9CGCQPN00J-180x180.PNGLessAccounting6https://media.trustradius.com/product-logos/3p/XP/17HNCRLT1VGM.jpegOracle JD Edwards World7https://media.trustradius.com/vendor-logos/VC/02/T4E108T4IWP2-180x180.PNGThomson Reuters CS Professional Suite8https://media.trustradius.com/vendor-logos/IX/R3/PKSJGGK50NTP-180x180.JPEGScaleFactor9https://media.trustradius.com/product-logos/MG/fJ/AGNKO62IWEVW-180x180.JPEGCustomer Focus10https://media.trustradius.com/vendor-logos/gy/E0/DZBV0VOAFOTZ-180x180.JPEGLivePlan11https://media.trustradius.com/product-logos/Ly/II/2RA5Q2QQ1QK6-180x180.JPEGInfor SunSystems12https://media.trustradius.com/vendor-logos/qg/yE/TTWOKM9V0PAB-180x180.JPEGClearbooks13https://media.trustradius.com/product-logos/Lx/13/8F3KUWUX9RB9.jpegFloat14https://media.trustradius.com/product-logos/qB/e5/67RFDMZ021GT-180x180.PNGKashflow15https://media.trustradius.com/vendor-logos/WV/aO/55DPGCOZAMZM.pngUnit4 Financials16https://media.trustradius.com/vendor-logos/oC/bu/TEJXF18J12TK.pngmove2clouds17https://media.trustradius.com/vendor-logos/sw/Ck/W1XB5TQID106-180x180.JPEGSlickPie18https://media.trustradius.com/product-logos/GP/rC/X7HZ2I73UF3Q-180x180.JPEGHarpoon19https://media.trustradius.com/product-logos/K9/Fh/S2TLFQF2ZR69-180x180.PNGOSAS20https://media.trustradius.com/vendor-logos/2g/JL/75DR8R587P9Z.pngPlanGuru21https://media.trustradius.com/vendor-logos/3f/Oe/LTWXFTKTEHTZ.pngXactly Commission Expense Accounting (CEA)22https://media.trustradius.com/vendor-logos/wk/Ur/70OQ7U5LF2RN-180x180.PNGMultiview Financial Software23https://media.trustradius.com/product-logos/aj/mF/FU3VTIFX3Q8X.jpegCenterPoint Accounting Software24https://media.trustradius.com/vendor-logos/t4/qP/NW1QP715EKKJ.pngAccountMate25https://media.trustradius.com/vendor-logos/X3/8d/52NCV39MEGLR-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 (51-75 of 129)

8 Ratings

Hubble by insightsoftware.com is an integrated suite of business performance management apps for JD Edwards and Oracle E-Business Suite. It offers reporting, analytics and planning in a single real-time solution that fully understands your ERP. Hubble integrates your critical business systems so ...

GoDaddy helps the world easily start, confidently grow, and successfully run an online presence. GoDaddy was born to give people an easy, affordable way to get their ideas online. Today, we have millions of customers around the world, but our goal hasn't changed. We’re here to help people easily ...

23 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.

Bookkeepings isn't suppose to suck. You need to see who owes you money and bill them. You need to see where you're spending money and record and category expenses. Then invite your tax professional to LessAccounting to download the information they need. See it's simple!

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-Busi...

5 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.

1 Ratings

Online accounting software for small businesses, start ups, bookkeepers and accountants. Access your financial accounts anywhere and at anytime - all you need is a web browser. Our goal is "Online accounting to free your time". Sign up for a 30 day free trial today to explore the system.

2 Ratings

KashFlow is award-winning, cloud based and simple accounting software, designed specifically to help small business owners make sense of their accounts. Jargon free and loved even by non-accountants, KashFlow’s aim is to take away the stress of bookkeeping and accounting, giving small businesses ...

UNIT4 is a global cloud-focused business software and services company aimed at helping dynamic public sector and commercial services organisations to embrace change simply, quickly and cost effectively in a market sector we call ‘Businesses Living IN Change’ (BLINC)™*. UNIT4 incorporates a numbe...

1 Ratings

move2clouds is a cloud based online accounting application. Hosted in the cloud and available as SaaS (software as a service), move2clouds is a complete end to end accounting system for small and medium businesses. Some key features include: Management Dashboards, Detailed Reports and Transaction...

4 Ratings

Open Systems, Inc. provides adaptable ERP, accounting, and business software solutions for companies in a wide array of industries, including; manufacturing, distribution, not-for-profit, and many more. The TRAVERSE and OSAS software product lines from Open Systems offer customize-able solutions ...

1 Ratings

All organizations are faced with tough decisions on how to improve performance and better allocate resources. Measuring actual results against your expectations is the key to unlocking better decision making. Our company is dedicated to providing an affordable solution for users ranging from entr...

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

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 Entry, Proje...

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

Red Wing Software, Inc. develops, integrates and supports the accounting and financial management needs of small- to mid-sized businesses, agribusinesses and producers, municipals, and nonprofits across North America. For more information on Red Wing Software products, including TurningPoint Acco...

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

AccountMate Software Corporation was founded in 1984. AccountMate develops and markets fully modifiable business accounting software. Systems range from single user versions to those that support hundreds of users simultaneously. AccountMate software is distributed exclusively through a worldwide...