What’s The Best Accounting Software for Your Business?
Choosing the best accounting software for your business is a tough and often an all too confusing process. It’s tough especially because there is no such thing as an absolute “best accounting software” – there is only the accounting software that is right for you considering all the tradeoffs.
Based on my experience exploring different business & productivity software, there are a few that are a good starting point for most people.
Disclosure – I receive a commission when you make a purchase from the companies mentioned on this website. All data & opinions are based on my experience as customer or consultant to a customer.
Best Accounting Software Summary
|Name||Best if you want…||Features!|
|QuickBooks||…known brand w/ integrations & full product suite.||Visit|
|Xero||…full-featured competitor to QuickBooks.||Visit|
|GoDaddy Bookkeeping||…formerly OutRight, now integrated w/ GoDaddy.||Visit|
|FreshBooks||…user-friendly solution for freelancers & solo’s.||Visit|
Considerations for the Best Accounting Software
Here are the considerations included on the quiz –
Everyone wants a good deal. But defining your budget helps narrow down your choices. Think about when you go to buy a car – setting a price of $20,000 will rule out the Ferrari.
Most accounting software bases price on users or clients – though some base it on features available.
What kind of features are you looking for in your accounting software? Although you may call it “accounting software” – you may only need basic bookkeeping. On the flipside, you may need all the functions of full fledged accounting software like payroll, inventory, etc – but the “accounting software” provider may not actually offer those features.
Ease of Use
Some people just want a clean, smooth, user-friendly backend. Some don’t care about the design – they just want everything to be there and to function. And still others really don’t care about the backend – they want all technical options open for professionals (either a hired accountant or customer support) to use as needed.
Type of Company
What type of company do you run? Are you an independent professional that bills time? Or are you a retailer that sells inventory? It’s useful to think about exactly what you’re looking for in software – and try to find a product that fits your exact needs.
QuickBooks is the brand name. And yes, they are included in the quiz. But here’s the thing – some people can’t stand QuickBooks for a variety of reasons – even if, on paper, QuickBooks might be the “best” fit for them. If you are that person, make sure you rule that out.