Best paid accounting software for small businesses

Every business, be it small, mid-scale, or big, needs to have one thing in place right from day one – an accounting software. It helps firms track their actual profits, expenses, and liabilities. Also, having an accounting system saves a lot of time and effort during the tax season. Here, we’ll look at three paid accounting software for small businesses.

Intuit QuickBooks
This is a paid accounting software used by accounting professionals, making it a reliable bookkeeping friend. It’s convenient and easy to use, and all the features are placed right on the dashboard. So navigation is easy for a new user. Some of the top features of QuickBooks include comprehensive payroll support, customizable reports, the latest hybrid sales tax options, and detailed contact records and transaction forms.

QuickBooks accounting software also enables third-party integration, which allows for flexibility and added convenience. The cloud-based software has four monthly subscription plans ranging from $25 to $150. So users can choose a plan as per their needs and budget.

FreshBooks
This accounting software is well-known for its double-entry accounting, detailed client records, time tracking tools, and project proposals. The software has intuitive features that help small-to-mid-sized businesses and even freelancers. It also offers integration with third-party apps like G Suite, Gusto, and Shopify.

FreshBooks has seen a few reforms over the past few years but has been among the top accounting software for sole proprietors and small businesses. The monthly subscription plan of this software starts at $6 and goes up to $20 per month.

Wave
This accounting software is for small businesses that don’t need to track inventory or employee payroll. It has simple features for making financial reports, income and expense tracking, and receipt scanning and allows multiple businesses in one account. Wave also enables multiple billings and unlimited users, making it one of the most opted accounting systems among small businesses.

The best advantage of this software is that these features are accessible at no cost. But if the business needs features like customer payment processing and payroll services, one can opt for Wave’s monthly subscription plan that costs $20 (plus $6 per employee or contractor) and $35 (plus $6 per employee or contractor).