Best Accounting Software for Small Businesses in 2021

Let's get one thing clear; Accounting is one of the most important aspects of everyday business life, yet it is expensive and getting it wrong could cost you a lot of money down the line. Companies that don't have a correct overview of their finances are risking critical business areas and activities.  Being reckless with accounting and bookkeeping will cause expensive headaches and you'll be risking unpleasant visits from your local tax authorities. Small businesses therefore should be using helper software to make their accounting work easier. With the help of these online c50Qloud accounting software, the financial department of your small business will no longer get bogged down because every good accounting software supports you in many different areas of bookkeeping: from accounting to tax returns.

Frequently Asked Questions: SMB Accounting Software

What accounting software are there for small businesses? 

Your top options include Freshbooks, Sage 50, Quickbooks by Intuit and many more. Please check out the comparison table we have created for you to see the full list of cloud-based accounting software we have looked into. Please note that we have focused only on cloud based solutions since they don't come with huge set up costs and easier to get started for small businesses, freelancers and other type of establishments.

Which accounting software is best for small businesses

There isn't a one fit all solution in accounting. However, for most small businesses out there, we'd highly recommend Freshbooks since it's one of the easiest to get started accounting SaaS out there. Most important of all, it costs only 6 dollars a month. 

Basically, the best accounting software is the one that simplifies and automates your bookkeeping and invoicing process. Also make sure that every single document, bill, and payment Is recorded in order to meet your local tax obligations and also to get a general overview of how your company is doing financial-wise.

How much are accounting fees for a small business

The most affordable ones in our roundup usually start around 5-6 US dollars and come with a monthly subscription. However, the majority in our comparison table cost between 15 to 30USD per month. Desktop based and one-time fee / yearly subscriptions cost significantly more. There are even special built accounting software for your company's unique needs which cost tens of thousands of dollars. However, these are mostly for medium to big enterprises designed to cover unique requirements and processes. The ones we listed in our review are usually perfect for most - if not all small businesses.

What to look for in accounting software?

The accounting software your SMB uses should be intuitive to use, automated processes are must-have so that your employee who's tasked with taking care of bookkeeping gets a lot more done in their working hours. Especiall if your organization doesn't have a dedicated financial department automation becomes even more important.

For quotations and invoices, a continuous process from quotation, invoice to payment reconciliation is useful. It should also be able to connect to your business bank accounts for financial overviews, unless you prefer to enter it manually. If your SMB bills its customers by the hour, built in integrated time tracking features will be vital to your business' success as well.

What are the advantages of accounting software for small business