Bookkeeping The 3 Best Bookkeeping Software Applications

The 3 Best Bookkeeping Software Applications


best bookkeeping and payroll software for small business

There are also time management apps  that can integrate for use by consultants or freelancers who have a need to charge by the hour. Investopedia collected and analyzed scores of key data points from 19 companies to identify the most important factors for readers choosing accounting software for small business. Investopedia launched in 1999, and has been helping readers find the best accounting software for small business since 2020. QuickBooks Self-Employed is an Intuit product with a cloud-based online interface and a mobile app.

In addition, the AccountEdge Hosted option provides remote access from any device, offering flexibility to businesses. Zipbooks is an essential invoicing application for small businesses to manage and automate the billing process. Zipbooks has many relevant features, like outlining estimates and managing customer payments in one place. Its simplified interface makes it easy to bill clients and keep track of revenue. You can easily enter regular tax amounts, discounts, and shipping charges. FreshBooks is a cloud-based accounting software designed with small businesses in mind.

Can You Manage Expenses and Bills With Accounting Software?

In our opinion, Gusto offers the best small-business payroll features for your buck. Starting at $40 a month plus $6 per person paid, Gusto calculates and files your payroll taxes. It also submits your end-of-year tax paperwork at no additional cost, which HR-first providers like ADP and Paychex don’t. bookkeeping and payroll services Gusto also has more versatile employee benefits than most payroll providers, and its online payroll service is popular enough to sync with most accounting software options. We recommend FreshBooks for sole proprietors and companies with perhaps an employee or two—though it’s capable of handling more.

best bookkeeping and payroll software for small business

For example, do you plan to use specific features such as purchase orders and inventory tracking? You can usually turn tools on or off, which can help you either simplify the user interface or maximize the functions. Some accounting software providers charge for additional users beyond a set limit, which is an important point to keep in mind if many employees need access. A few vendors also offer bundles or add-ons, including timekeeping and payroll, for an additional monthly fee. Accounting and bookkeeping software simplifies tax preparation by organizing financial data and transactions in a systematic way.

Compare the Best Accounting Software for Small Businesses

Lendio lacks in accounts receivable and payable functionality and may serve best as a micro business accounting software solution or one for freelancers. However, Lendio has a free plan with payment processing functionality for a reasonable per-transaction fee. Neat is unique in that it only offers one plan, which must be paid in full on a yearly basis. Further, it may lack some necessary functionality if you don’t also get the Automated Insight add-on for another $150 per year. This add-on includes much of the platform’s invoicing and reporting features.

The feature-packed mobile app can be used to receive payments, send invoices, capture an image of a receipt, provide estimates, and more. For businesses looking for a payroll solution, QuickBooks Payroll fully integrates with QuickBooks Online. Finding the best online accounting software for your small business can seriously transform your working life. With less time spent on data entry, you have more time for the things you like most about small-business ownership, whether that’s getting to know customers or making products you’re proud of.

Best small business accounting software essentials

Accounting software is indispensable for any small business, especially if it has a large e-commerce presence. Accounting platforms present enormous benefits for e-commerce sellers, including inventory management tools and online invoicing for service-based e-commerce businesses. Accounting software also helps e-commerce sellers comply with tax regulations, which are often complicated when many online businesses sell to customers all around the country and the world. Rippling, being a workforce management platform, offers IT management features along with HR and finance features.

We extensively research the key competitors within an industry to determine the best products and services for your business. The ZipBooks free version, called Starter, allows you to connect one bank account, manage unlimited vendors and customers and send unlimited invoices. Another perk is the ability to accept payments through Square or PayPal.

If you’re hoping for scalable, comprehensive HR packages, you might consider Paychex or Gusto instead. ADP is the biggest name in the world of PEOs, or professional employer organizations. But if your business isn’t big enough to warrant a PEO, RUN Powered by ADP distills ADP’s decades of HR expertise into an easy online payroll service with thorough HR add-ons. No matter what type of payroll you need, if you have just a few employees and want to offer good benefits without going all-in on expensive add-ons, SurePayroll’s online payroll system is perfect. In many cases, professional services may be a better option than DIY bookkeeping and accounting.

Shreya Christina
Shreya has been with for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

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