Best Cloud Accounting Software for Businesses 2024

When you use our links to buy products, we may earn a commission but that in no way affects our editorial independence. We weighted each category equally to derive our star ratings, along with our accounting expert’s opinion and advice. Accounting online with Xero will protect your data through multiple layers of security, such as encryption. Solopreneur also gives you access to a tax expert to answer questions throughout the year and during tax season. You can select to have a 30-day free trial, but if you elect to skip it, you’ll receive 50% off the first three months. With our list, you don’t have to spend hours researching each software as this makes your research a whole lot easier.

What Is Accounting Software for Small Business?

The platform’s invoicing feature allows users to easily create and send professional invoices, facilitating efficient billing and timely client payments. Kashoo is cloud accounting software for small business owners who want the simplicity of doing their own books. The simple, straightforward platform allows users to easily create invoices, manage expenses, generate reports, cloud accounting accept credit card payments through Square and more. To choose the best cloud accounting software, we consulted user reviews and product documentation. We considered factors such as pricing, customer support and user reviews. We also considered features such as invoicing, time tracking, expense tracking, mileage tracking, inventory tracking and financial reports.

Intuit QuickBooks

For instance, if you have an employee processing your payroll, you can give that employee access to the payroll portion of the software without letting them have access to your bank accounts. Cloud-based accounting software is just like regular accounting software, the only difference being that it’s hosted online. You can access it remotely and through any device of your choice, and it’ll always be updated in real-time. Patriot starts at an affordable $20 per month with its “Accounting Basic” plan.

Automated features to save you time

However, Striven might not be the best fit if your company needs complex tax calculations or advanced budgeting and forecasting support. Time tracking is essential for many activities, such as paying hourly employees and charging clients on a per hour basis. Cloud accounting software should include native time tracking capabilities as well as integration with popular time tracking services like Clockify and Harvest. Zoho Expense is a cloud-based expense management software solution that automates expense reporting and streamlines corporate travel.

When we created an invoice in Odoo, we found the form layout counterintuitive, especially on a mobile device. We also thought the bank reconciliation layout was confusing – line items aren’t presented in a direct one-to-one comparison. Compare features, pricing, and expert reviews for your business software needs – all in one place.

The US spot Bitcoin ETFs have continued to make waves while attracting more investors after their launch. Impressively, the ETFs received two months’ worth of BTC mining supply within the… This drives up job flexibility and gives your team the freedom to work wherever they are.

Even a freelancer or solopreneur will benefit from accounting analytics that capture the financial health of their business. Cloud accounting software should include multiple reporting templates to choose from and automatically populate whichever one you pick with data pulled from other areas of the software. Any cloud-based system brings a range of advantages, such as ensuring authorized users can access up-to-date, accurate financial information from home or while traveling.

ZarMoney: Good for inventory management features

Ultimately, there should be an accounting platform for all different kinds of small businesses, even those with small budgets. Micro-businesses have specific needs when it comes to accounting software, and that’s why Xero is the best choice for those ultra-small businesses. Xero is a no-fuss software that offers unlimited users without having to pay an additional fee, plus it has a very simple user interface that most users will be able to pick up relatively quickly. That’s handy for those who run a micro-business, and who might not be running their business full-time – and thus have less time to spend managing things like accounting. As you would expect from free accounting software, there are some limitations.

• In a service-based business, a time-tracking application could integrate with the accounting software to add labor to a client invoice.
• Cash management in NetSuite is another feature that caught our attention.
• This all-in-one document management software has an Intelligent Inbox from which documents are filtered and organized into custom categories.
• Luckily, enterprise accounting software platforms typically come with robust security features such as two-factor authentication, bank-level encryption, access control and permissions.
• However, NetSuite earns a 4.1 rating on Capterra with 1,458 user reviews and a four out of five-star rating on G2 with 3,080 user reviews.
• The automation of accounting processes, plus, the customization features will instantly make your accounting management more efficient.
• In addition to its base plan, Neat offers add-on features ranging from $50 to $150 per year, including enhanced customer support and automations.

Explore our features

You can also create graphs, charts and maps to create easily consumable reports. The software allows you to then back up your data even daily to ensure it is safe and never lost. Finally, you can request a free copy of AccountEdge for your accountant so they always have full access to your data. However, the dashboard offers some convenience features that make the user experience intuitive.