List of 10 Best Accounting Software for Small Businesses in 2024

While scaling up the businesses, every business team needs good accounting software in terms of managing all their expenses and other work efficiently. They search for some of the good accounting software options for small businesses in 2024 such as QuickBooks Online, Xero, FreshBooks, Wave Accounting, and Zoho Books. To find the best accounting software for small businesses in 2024, factors such as features, scalability, ease of use, cost, customer support, etc. are considered. In this article, we are going to learn the list of best accounting software for small businesses in 2024 along with their key features.

List of 10 Best Accounting Software for Small Businesses in 2024

The list of best accounting software for small businesses is made based on the software’s features, ease of use, customer reviews, and overall value to small businesses, aiming to cater to a wide range of accounting needs and preferences. Here is the list of best accounting software for small businesses in 2024.

Rank	Software	Key Features
1	QuickBooks Online	Comprehensive features, cloud-based, integrate with other services
2	Xero	User-friendly, cloud-based, strong mobile app
3	FreshBooks	Simple invoicing, time tracking, project management
4	Wave	Free for basic use, invoicing, and accounting features, receipt scanning
5	Zoho Books	Great for micro-businesses, integrates with Zoho suite, automation features
6	Sage Business Cloud	Scalable, Integrates with Sage products, inventory management
7	Kashoo	Simple interface, automatic bank feeds, multi-currency support
8	GoDaddy Bookkeeping	Designed for freelancers and online sellers, direct integration with e-commerce platforms
9	Bench	Provides professional bookkeeping services along with software, tax-ready financial statements
10	FreeAgent	Project management and invoicing, designed for freelancers and small businesses, multi-currency

1. FreshBooks

FreshBooks is focused on making invoicing and billing easy for small businesses and freelancers. It’s very user-friendly, letting you create professional invoices quickly, track your time for projects, and manage your expenses. FreshBooks can also help you follow up with clients who are late on payments, which is really useful for keeping cash flow steady.

Features:

• Customizable invoice templates for professional customers
• Automatic late fees payment when invoices gets overdue
• Allows to set a due dates quickly to know customers about the exact payment date

Pricing:

• Lite Plan: $7.60 per month
• Plus Plan: $13.20 per month
• Premium Plan: $24 per month
• Enterprise Plan: Contact Supports Team

Link: https://www.freshbooks.com/

2. Xero

Xero is another cloud-based accounting software that’s great for small businesses. It’s known for being easy to use. You can access it from your computer or phone, making it handy for business owners on the go. Xero lets you send invoices, record payments, and check your financials easily. It’s also good for working with your team or accountant because you can give them access too.

Features:

• Xero makes it simple to create invoices, transmit them online, and accept a number of online payment methods.
• This platform has an inventory management tool that makes it simple for users to track and manage the company’s stock levels.
• The Xero accounting dashboard facilitates payment tracking and gives customers the option to select between bank, credit card, and PayPal accounts that support several currencies.

Pricing:

• Early Plan: $3.75 per month, usually $15
• Growing Plan: $10.50 per month, usually $42
• Established Plan: $19.50 per month, usually $78

Link: https://www.xero.com/

3. Patriot Accounting Software

Patriot Accounting Software is considered as one of the best Accounting software for small businesses and with the help of this tool, anyone can easily track expenses, income, and money to prepare invoice for the customers. All the bank transactions can be extracted within the period of two years. There are multiple smart suggestion features available within the software to give predictive calculations within your organizations.

Features:

• Easy to manage and categorization of expenses such as income, assets, etc.
• Easy creation and tracking of customer’s invoices
• A wide range of integrations provided within the software for more efficiency

Pricing:

• Basic Plan: $20 per month
• Premium Plan: $30 per month

Link: https://www.patriotsoftware.com/

4. Wave

Wave is a great option if you’re just starting out because it’s free for basic use. It offers invoicing, accounting, and receipt scanning without costing you anything. This makes it perfect for small businesses or freelancers who need simple accounting tools. Wave can help you manage your finances without adding extra expenses.

Features:

• It offers best invoicing services for small businesses
• Payment scheduling can be done and payment acceptance in any format
• Provides a range of reports along with real-time analytics of the business expenses

Pricing:

• Starter Plan: $0 per month
• Pro Plan: $16 per month/billed annually

Link: https://www.waveapps.com/

5. Zoho Books

Zoho Books is part of the Zoho suite of online productivity tools and SaaS applications. It’s especially good for very small businesses.  Zoho Books makes it easy to handle your finances, send invoices, and get paid on time. It also has automation features that save you time by doing some tasks for you.

Features:

• Easy Project Management and Invoices Creation
• Automatic Bank Feeding and Bookkeeping
• GST-compliant invoice with the assistance in tax filing

Pricing:

• Standard Plan: Rs 8,988 per year
• Professional Plan: Rs 17,988 per year
• Premium Plan: Rs 35,988 per year

Link: https://www.zoho.com/in/books/

6. Sage Business Cloud

Sage Business Cloud is a scalable accounting solution that can grow with your business. It integrates well with other Sage products, making it a good choice if you already use Sage for payroll or other services. It offers features like inventory management, which is helpful if your business sells products.

Features:

• Easy bank linking with automatic transaction matching and invoices
• Accurate and real-time insights for the business expenses
• Easy invoice creation and can be sent in any form quickly

Pricing:

• Start Plan: $11 per month
• Standard Plan: $24 per month
• Plus Plan: $30 per month

Link: https://www.sage.com/en-gb/sage-business-cloud/accounting/

7. Kashoo

Kashoo is a straightforward accounting software with a simple interface. It’s good for small business owners who want to keep their accounting uncomplicated. Kashoo automatically updates your transactions when you connect it to your bank, and it supports working in multiple currencies, which is great if you deal with international customers.

Features:

• A vast collection of completely editable invoice templates
• Automated reminders for past-due payments and monitoring of invoice status
• 14-day risk-free trial period to try the platform
• Fantastic mobile accounting app for on-the-go use

Pricing:

• Monthly Plan: $27 per month

Link: https://kashoo.com/

8. GoDaddy Bookkeeping

GoDaddy Bookkeeping is designed for freelancers and online sellers. It integrates directly with platforms like eBay, Amazon, and Etsy, making it easier to track your sales and expenses. It’s a good choice if you sell products online and need a simple way to keep your finances organized.

Features:

• With the help of software, easily you can record and categorize expenses.
• Effortlessly you can track all the revenue streams.
• Personalized assistance in tax deductions to make it as less it can be.
• Easy process of generating invoices and send directly to clients.

Pricing:

• General Paid Plan: $4.99 per month.
• Essentials Plan: Starting at $9.99 per month.
• Premium Plan: Starting at $14.99 per month.

Link: https://www.godaddy.com/

9. Bench

Bench is unique because it combines software with professional bookkeeping services. This means you get software to track your finances and a team of bookkeepers to do the work for you. They prepare your financial statements and make sure everything is ready for tax time. It’s a good option if you want to spend less time on accounting and more time on your business.

Features:

• Personalized one-to-one dedicated support for the users.
• Excellent financial reporting to control the flow of money.
• With updated financial data, real-time insights analysis.
• For premium users, offers the complete taxation period facilities including the filing.\

Pricing:

• Essential Plan: $249 per month
• Premium Plan: $399 per month

Link: https://www.bench.co/

10. FreeAgent

FreeAgent is designed with freelancers and small businesses in mind. It offers project management tools, invoicing, and expense tracking. It also supports multiple currencies, which is helpful if you work with clients around the world. FreeAgent makes it easier to manage your projects and finances in one place. Each of these software options offers unique features aimed at making accounting easier for small businesses. Whether you’re a freelancer, a growing business, or an online seller, there’s a tool out there that can meet your needs.

Features:

• Prepares the professionally designed estimates and invoices.
• The tool has the feature of sending and tracking the recepits.
• With the help of smart timesheet and stopwatch, all time it can be recorded.
• Complete dashboard maintenance and flow of invoices are prepared.

Pricing:

• Universal Plan: $11 for first six months and then $22 per month.

Link: https://www.freeagent.com/en/

FAQs – Best Accounting Software For Small Businesses in 2024

Name 10 Best Accounting Software For Small Businesses in 2024.

Here are the 10 Best Accounting Software For Small Businesses in 2024:

1. QuickBooks Online
2. Xero
3. FreshBooks
4. Wave
5. Zoho Books
6. Sage Business Cloud
7. Kashoo
8. GoDaddy Bookkeeping
9. Bench
10. FreeAgent

What is the Most Used Accounting Software?

QuickBooks Online is the most used accounting software, particularly among small to medium-sized businesses globally.

Which accounting software is mostly used in India?

Tally ERP 9 is the most widely used accounting software in India.

Which accounting software is best- Tally or Busy?

Tally ERP 9 is generally considered better for its comprehensive features and ease of use, especially in the Indian market.

What is the Easiest Accounting Software for Small Business in India?

QuickBooks Online is often considered the easiest accounting software for small businesses in India due to its user-friendly interface and comprehensive features.

Which Accounting Method is best for Small Business?

The accrual accounting method is often considered best for small businesses due to its ability to provide a more accurate representation of financial health over time.

Which one is the best, SAP or Tally?

The choice between SAP and Tally depends on the specific needs and scale of the business, with SAP typically favored by larger enterprises for its extensive functionalities, while Tally is more commonly used by small to medium-sized businesses for its simplicity and cost-effectiveness.