One of the most important aspects of running your business is keeping track of finances. You want to know who is paying you and who you owe money to. A good accounting program will help you stay on top of the money that is flowing through your business. Being aware of your financial picture helps you make informed decisions about your day-to-day expenses and keep you on track toward your long-term goals.
Regardless if your business is large or small, all businesses can benefit from using an accounting program to keep track of income and expenses and to provide information to your accountant for tax reporting. An accounting program not only keeps track of your financial information but can also be used as a filing system to keep accurate track of customers, vendors, inventory, and payroll.
When making the decision as to which program to use, focus on the ease of using the software and the ability for the program to provide the information you need. A good accounting program will save you time as well as keep track of your important information.
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Cost for accounting programs range of pricing, from free, to monthly charges, or you could purchase a CD and periodically update the program. A thorough review of available accounting programs will ensure you purchase the best program for your type of business.
Outlined below are four of the top rated accounting programs for businesses.
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Business size |
For small to large businesses |
For small to large businesses |
Best for micro-businesses under 10 employees, no payroll feature but can print 1099s |
Best for small businesses up to 10 employees |
|
Cost |
$10 per month for income and expense tracking, ability to sync bank accounts |
$12.95 per month, 5 clients, single user, unlimited invoices, expenses, time tracking |
$9 per month, 50 contacts, 2 users, invoices, expenses, banking, projects |
Free but with visible ads |
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$21 per month for unlimited estimates and invoices, manage and pay bills, sales and profit reports |
$19.95 per month, 20 clients, single user, unlimited invoices, expenses, time tracking |
$19 per month, 500 contacts, 3 users, invoices, expenses, banking, projects, billing, vendor credits |
$19 per month for premium services including payroll, accepts credit cards, customer support |
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$32 per month track inventory, create budgets, track sales, 1099s |
$29.95 per month, 200 clients, two users, unlimited invoices, expenses, time tracking |
$29 per month for unlimited users and all features including inventory, sales orders |
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Trial Period |
Free 30 day trial QuickBooks CD is also available for purchase |
Free 30 day trial |
Free 14 day trial |
Free |
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Skill level |
Novice to Experienced |
Novice to Experienced |
Novice to Experienced |
Novice to Experienced |
|
Mobile App |
iOS & Android QuickBooks Online – limited functionality, not compatible with CD program |
iOS & Android Easy to use, includes invoices, client records, expenses, time tracking, project management and more |
IOS, Android & Windows Complete access to dashboards and all functions. |
iOS (though slow interface) |
|
Support |
Video tutorials, email, online and phone chat for customer support |
Help link upper right corner for immediate access to customer support and contact information, Monday through Friday 8 to 8 EST. |
Live webinars, tutorial videos on Zoho’s YouTube channel, 24 hour customer support 5 days a week. |
Customer support is available with paid subscription. 9 – 5 Monday – Friday |
|
Banking |
Ability to download bank and credit card transactions |
Ability to download bank and credit card transactions |
Ability to download bank and credit card transactions |
Ability to download bank and credit card transactions |
|
Tax Prep |
Accountant can access editable version. |
Accountant has read-only access to reports. |
Accountant can be added as an Administrator to access information. |
Accountant can have as much access as you grant them by adding them as a Guest to your account. |
|
Dashboard |
QB steps you through questions to set up your business. Customizable dashboard. Overview of accounts, overdue invoices, bills, income expenses, banking, and more. |
Overview of account activity. Customizable dashboard via widgets. Best for service-based businesses. |
Zoho steps you through questions to set up your business. Has an “At A Glance” dashboard for income, expenses, projects, bank, credit cared accounts and more. |
Overdue invoices and bills, bank accounts and credit cards, receivables & payables, financial snapshot. Not customizable. |
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Automated |
Recurring invoices and bill payments |
Recurring invoices and bill payments |
Recurring invoices and bill payments |
Recurring invoices |
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Backup |
Can set a prompt for manual backup |
Automatic nightly |
Manual and scheduled |
Automatic and can back up to Excel |
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