Best Small Business Accounting Software in 2023

• Location and class tracking:Set up tags to track your income and expenses across different departments, properties, or locations of your business. You can use this feature to determine which department brings the most money to your business.
• 我nventory:Track the cost of inventory on hand and allocate that cost between ending inventory and the cost of goods sold. For more information about COGS, read our article onwhat COGS is and how to calculate it．
• Project accounting:Set up projects to include income, expenses, and wages, and create project estimates. A huge drawback we found in QuickBooks Online’s project accounting, however, is that you cannot compare estimated to actual project costs.
• 我nvoicing:The best thing about QuickBooks Online’s invoicing feature is that it calculates the sales tax rate automatically to apply to your invoice based on the customer address.
• Bill Pay:Pay your bill electronically directly from your QuickBooks account.

We compare the features of each plan in ourQuickBooks Online comparison guide．

• Project accounting:FreshBooks allows you to create estimates with items like inventory and sales taxes, convert estimates to projects, track time and convert time entries to invoices instantly, and more.
• Excellent customer service:FreshBooks offers plenty of customer support options, including phone and email support and self-help guides and resources. However, its biggest advantage over other software providers is that it allows FreshBooks users to call its customer support over the phone directly. With other providers like QuickBooks Online, you have to send a request and wait for them to call you.
• Mobile app:The FreshBooks mobile app lets you create and send invoices, enter and pay bills, accept payments online, and record billable time from your smartphone.

• Mobile app:Mobile accounting is one of Zoho Books’ biggest strengths. The mobile app can perform plenty of accounting tasks, including invoicing, accepting online payments, recording bills and bill payments, categorizing expenses from the bank feed, and viewing financial reports.
• 我nventory:Zoho Books has complete features for tracking inventory. You can track inventory on hand and the COGS, adjust the cost of inventory and categorize expenses based on vendor details, product details, and stock keeping units (SKU).
• Project accounting:Users can track time worked and assign it to a project or customer, create expenses from a project, and generate an invoice straight from the project.

• Multicompany accounting:Manage the books for an unlimited number of companies with a single subscription.
• 我ndustry-specific editions for Premier Plus:QuickBooks Premier Plus includes industry-specific editions for manufacturing and distribution, retail, contractors, professional services, and nonprofits.
• Advanced inventory management:QuickBooks Desktop offers more advanced inventory tracking than QuickBooks Online. For instance, you can create assembly items to build and track finished goods, which can be useful for manufacturing teams.
• Class tracking:Classes can be customized to represent cost centers or enterprises, helping you better understand the profitability of your farms.

• Financial statements:Despite being free, Wave can produce both a Profit and Loss Report and a Balance Sheet.
• Receipt capture:Wave has receipt scanning and uploading features so that you can attach them to invoices or expenses. It is awarded ourbest free receipt scanner, with impressive features, such as optical character recognition and unlimited cloud storage for receipts.
• Payroll integration:Wave offers a payroll service for only $35 or $20 per month plus $6 per employee.
• Bookkeeping support:Though free, users of Wave can access bookkeeping support for only $149 per month through the Wave Advisor program. Wave’s bookkeeping service is more affordable than QuickBooks Live and Bench.

• FreshBooks partnership:Bench is FreshBooks’ largest accounting partner. It can import your invoicing activity from FreshBooks to include in your accounting records.
• Human bookkeepers:You’ll be assigned a dedicated team of bookkeepers that will produce monthly financial reports based on managing and reconciling your bank accounts.
• Tax pros:我n the Premium plan, you’ll be assigned a tax pro who is available for unlimited tax consultations and who will oversee the preparation of your annual income tax returns.

• Trust Accounting:PCLaw offers comprehensive trust accounting features, including three-way reconciliation, trust fund management, and a trust accounting ledger that lets you record all incoming and outgoing trust transactions, including transfers, deposits, and disbursements.
• Matter management:The Matter Management module in PCLaw provides law firms and lawyers with a central location to manage all aspects of their matters, including managing client information, creating invoices, and tracking deadlines.
  Legal billing:PCLaw supports various legal billing methods, including hourly, flat fee, contingency, and retainer billing. To streamline your billing process and meet specific client requirements, PCLaw supports LEDES billing, which is a widely used electronic billing format in the legal industry.
• Client intake forms:You can create a client intake form that you can use to collect information from new clients as they come aboard.

• Scheduling:Managers can create and manage employee schedules to make sure that they are always staffed properly to serve their customers.
• Smart ordering:The platform helps you easily create and manage purchase orders, receive and track inventory, and optimize your food costs. It uses advanced algorithms to analyze historical sales information, order patterns, and inventory levels to create optimized purchase orders.
• Mobile app:You can use the mobile app to upload receipts and invoices, approve transactions, communicate with staff, and manage employee schedules.
• POS Connect:Restaurant365 integrates with more than 90 POS systems, including Square, Revel, Aloha, Digital Dining, and Toast. With POS Connect, you can automate sales data entry and gain insights into your sales trends and performance.

• Budgeting:Nimble Property enables you to compare your actual and estimated expenses and revenue, helping you better analyze and plan your budget.
• Door lock system:This allows you to assign a unique ID to each person who has access to your property.
• 我nventory management:Nimble Property has basic features for tracking hotel inventory, helping you ensure that you don’t run out of supplies and amenity items in your hotels. !
• Reporting dashboard:You can track important key performance indicators (KPIs), including average daily rates and revenue per available room.