As a small business owner, you wear many hats. One of those hats is the Accounting hat. If you’re like me, that hat is particularly daunting. Accounting is an unknown world to me, and I never had any formal education on the subject. Yet, I find myself assigned with accounting duties as part of my small business.
So when it came time to find the perfect app to help simplify the accounting process and make that particular hat less scary, I wanted to check out my options to see which option would be the best fit.
I needed something simple, easy to navigate, and well organized. Today, I’m sharing a few possible options that fit within those parameters and that you might want to consider for your small business as well.
FreshBooks
FreshBooks has a clean, non-nonsense design aesthetic. Everything you need is easy to find and works in a logical fashion. Features include time tracking, report generation, accepting credit cards, sending late payment reminders, photo capture receipts, and more. It’s simple to use, mobile-friendly, and covers all the necessary accounting bases.
Advantages: Simple to use, mobile-friendly, and covers all the necessary accounting bases.
Disadvantages: Has a few minor tweaks that need to be made.
Free Trial: 30 days
Cost: Starts at $19.95/month
Wave
Geared toward freelancers and small businesses, Wave offers FREE invoicing and accounting tools. Features include bank account integration, accepting credit cards, dashboard view of income vs. expenses, and more. It’s FREE and perfect for those who don’t want to pay for an accounting resource.
Advantages: It’s FREE! Totally free.
Disadvantages: Has limited functionality compared to other accounting apps.
Free Trial: Unlimited free usage for basic tools
Cost: Add payroll for additional fees
QuickBooks
This full-bodied tool covers all the bases in accounting. Features include handling payroll, generating reports, and more. While it can be tough to connect bank accounts, it’s great for small to mid-sized businesses with more involved accounting processes.
Advantages: Can handle payroll and other advanced tasks.
Disadvantages: Setting up bank accounts can be challenging.
Free Trial: 30 days
Cost: Starts at $12.95/month
FreeAgent
Geared toward freelancers, FreeAgent provides a simplified approach to accounting. Features include custom invoicing, bank integration, time tracking, PayPal integration, and more. It’s easy to navigate with a great mobile version for tracking time on the go.
Advantages: Easy to navigate with a great mobile version.
Disadvantages: Multiple currency issues can make international payments challenging.
Free Trial: 30 days
Cost: Starts at $24/month USD
ZohoBooks
ZohoBooks, part of the Zoho Suite, is great for small business owners who want a big-picture look at their business. Features include manual journal entries, bank reconciliation, mobile access, and more. It’s ideal for brick and mortar businesses collaborating with an Accountant.
Advantages: Ties in nicely with other Zoho tools and simplifies accounting processes.
Disadvantages: Customer support is lacking, and some terminology can be confusing.
Free Trial: 14 days
Cost: Starts at $24/month
My Pick for the Best All-around Accounting App
QuickBooks is my top choice. It’s affordable, packed with features, and easy to learn without formal training.
It’s Not as Scary as It Seems
Accounting doesn’t have to be daunting with the help of these tools. Explore the options and choose the best fit for your small business needs. You might even enjoy seeing everything come together in the world of accounting!
Your Turn: What accounting app do you use? Would you recommend it to other business owners? Why?