Advertiser Disclosure
Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.

Accounting Software Reviews

buyers guide
Sort By
  • FreshBooks Review

    Read Review Start Trial

    FreshBooks is ideal for small businesses that want a basic, easy to use accounting solution and don’t need complex accounting features or multiple users. FreshBooks Classic is ideal for small businesses that don’t need accounting software and simply want an easy invoicing and expense tracking tool for their businesses.

  • QuickBooks Online Review

    Read Review Visit Site

    QuickBooks Online is cloud-based accounting software. It has the complex accounting capabilities that small business owners need and supports numerous integrations. Quickbooks Online has a lot to offer in terms of features, accounting, and usability.

  • QuickBooks Desktop Pro 2020 Review

    Read Review Visit Site

    QuickBooks Pro is a tried and true accounting software designed for small to medium businesses. This traditional accounting program has strong features, advanced accounting, and customizable reports but its learning curve isn’t for the faint of heart.

  • Zoho Books Review

    Read Review Visit Site

    Zoho Books is a cloud-based accounting program with advanced invoicing features as well as features such as auto-scheduling invoices, reporting tags, and inventory. Zoho Books offers a strong set of features that could be ideal for many small businesses. It is nearly on par with QuickBooks Online -- and at half the cost.

  • Xero Review

    Read Review Visit Site

    Xero is a robust, cloud-based software with strong accounting, ample integrations, and some really great features. It offers tons of automations to save business time like automatic sales tax lookup, group invoicing, and default email templates.

  • QuickBooks Premier Review

    Read Review Visit Site

    QuickBooks Premier is ideal for small to medium-sized businesses that have outgrown QuickBooks Pro and need more users, more reports, and industry-specific features. The downsides? More features come at a higher cost and there’s still a learning curve.

  • QuickBooks for Mac Review

    Read Review Visit Site

    QuickBooks for Mac is back! QuickBooks for Mac is designed specifically with Mac users in mind and combines a simple Mac interface with the complex accounting QuickBooks users love.

  • Quicken Review

    Read Review Visit Site

    Quicken is a personal accounting software program that is ideal for anyone who wants to manage their finances better. Quicken’s expense tracking and budgeting are ideal for those who want an in-depth, detailed look into their personal finances.

  • QuickBooks Enterprise Review

    Read Review Visit Site

    Outgrown QuickBooks Pro or Premier? If you’re looking to stay in the QuickBooks family, QuickBooks Enterprise could be a good fit for larger businesses in need of advanced inventory, more reporting, and more users.

  • Wave Review (Formerly Wave Accounting)

    Read Review Visit Site

    Wave is free accounting software and unlike other free programs, there are no artificial limits on invoicing, contacts, items, or other features. The only thing you have to pay for is adding payroll, payment processing, or professional bookkeeping. There’s limited tax support, no project management, limited time tracking, and no additional users, which rules the software out for a lot of businesses.

What is Accounting Software?

Accounting software allows business owners to manage their finances and balance the books. These tools often eliminate the need for a human accountant by giving business owners the ability to track their income, manage expenses, and run accounting reports themselves.

Web-hosted vs. Locally Installed

There are two types of accounting software: web-hosted software and locally installed software.

Web-hosted

Web-hosted accounting software is software that operates on the cloud. This type of accounting software offers mobility and access for multiple businesses in various locations. It is generally easier to use.

Locally-Installed

Locally-installed software is downloaded directly onto your computer via a disk or link. This type of program works offline and can potentially be more secure; however, you’ll lose the mobility and ease-of-use of web-hosted software.

Cash-basis vs. Accrual Accounting

As you begin researching accounting software, you will likely come across two terms: cash-basis accounting and accrual accounting. Cash-basis and accrual accounting refer to the way you record your business’s income.

Cash-basis

Cash-basis accounting records income when a product or service is actually paid for.

Accrual

Accrual accounting records income when products or services are agreed upon (rather than when paid for).

Cash-basis accounting can work for small business, but we recommend accrual accounting as it uses full double-entry accounting.

How Can Accounting Software Benefit My Business?

Accounting software allows business owners to record their income, track expenses, send invoices to make sales, pay bills, manage contacts, track inventory, and pay their taxes correctly. Accounting software doesn’t just benefit your business. It is integral to your business and the success of your company. In short, accounting software keeps your finances organized and ensures that your company is on good terms with the IRS.

Common Features to Look For in an Accounting Software

The features of accounting software vary depending on the type and size of business the software is designed for. However, there are some common features that most (good) software offers:

  • Invoices
  • Recurring invoices
  • Estimates
  • Expense tracking
  • Bank reconciliation
  • Live bank feeds
  • Contact management
  • Items management
  • Basic time tracking
  • Basic project management
  • Reports
  • Unlimited sales tax rates
  • Import/export capabilities
  • Multiple currencies
  • Mobile apps
  • Some integrations

Higher-level accounting software companies will often offer the following features as well:

  • Chart of accounts
  • Ability to separate personal and business expenses
  • Full inventory tracking
  • Developed time tracking
  • Job costing
  • Large selection of reports
  • Budgeting
  • Payroll
  • Tax support
  • Track deductions
  • Class tracking
  • Mulitple languages
  • Ample integrations

How Much Will It Cost?

The price of accounting software will vary depending on your business size and needs.

A good, full featured accounting software for small businesses will cost anywhere from $20-$35/mo. Accounting software for medium businesses who need payroll and have multiple users will cost around $35-$50/mo. Larger businesses can expect to pay $50+.

Freelancers, independent contractors, micro businesses, and smaller businesses are in luck because there are a lot of free software options out there as well.

Do I Need Integrations?

While accounting software offers a large array of features, there is one type of integration you won’t be able to live without–payment gateways. Payments gateways allow you to accept payments for invoices online, which is a must for a successful invoice-sending business.

Beyond this, integrations are optional, but we highly recommend choosing a software that offers ample integrations. You may be able to get by with only your accounting software’s features for now, but most programs won’t meet all of your needs, or at least not to the depth that you need.

Choosing Specific Accounting Software

Now that you have a basic understanding of accounting software (what to expect in terms of price, which features to look for, etc.), it’s time to pick one. At Merchant Maverick, we’ve spent countless hours researching and testing the best accounting software programs on the market. Read our comprehensive reviews for more information, compare our highest rated software options, or check out Merchant Maverick’s best accounting software winners.

If you need more help picking a software solution, take a look at our Complete Guide to Choosing Online Accounting Software.

And before you commit to a software, be sure to take advantage of any free trials the company offers. Most accounting software companies offer a 14-day or 30-day free trial of their software, no credit card required.

Have fun shopping!

Share

Featured Offer: We Recommend QuickBooks 🎉

Get 50% QuickBooks Online for a limited time!

Take it for a spin with a free trial.

Try QuickBooks Today

We Recommend Payment Depot 🏆

Payment Depot is one of our top picks for credit card processing!

 

 

We love Payment Depot's predictable pricing and excellent service.

Get Started

Get started with no commitment today.

We Recommend Brex Corporate Card for Startups 🏆

Brex Corporate Card for Startups is one of our top picks for business credit cards!

 

 

For a limited time get 50,000 rewards points when you spend $1000 with Brex.

Get Started

Get started with no commitment today.

We Recommend Fattmerchant 🏆

Fattmerchant is one of our top picks for credit card processing!

 

 

We love Fattmerchant's predictable pricing and excellent service.

Get Started

Get started with no commitment today.

We Recommend Fattmerchant 🏆

Fattmerchant is one of our top picks for credit card processing!

 

 

We love Fattmerchant's predictable pricing and excellent service.

Get Started

Get started with no commitment today.

⭐️ Featured Promo! ⭐️

Sign up now and qualify for a limited time deal!

Standard Plan: One month free ($29.95 value)
Plus Plan: Two months free ($159.90 value)
Pro Plan: Three months free ($899.85 value)

Learn More

At BigCommerce

We Recommend Helcim 🏆

Helcim is one of our top picks for payment processing!

 

 

Helcim has exceptional service and an advanced platform that we highly recommend for businesses in Canada and the US. Get three months free when you sign up with Helcim through our links!

Get Started

Get started with no commitment today.

We Recommend PaymentCloud 🏆

PaymentCloud is one of our top picks for credit card processing!

 

 

We love PaymentCloud's predictable pricing and excellent service.

Get Started

Get started with no commitment today.

We Recommend OnDeck 🏆

OnDeck is one of our top picks for Business Loans!

 

 

OnDeck is our featured vendor for business loans and lines of credit. If you have at least one year in business, a personal credit score of 600 or higher, and $100K in annual revenue, OnDeck is ready to help your business get funded.

Get Started

Get started with no commitment today.

Get 50% Off FreshBooks ✨

FreshBooks accounting is offering 50% off of their accounting and invoicing software for three months and a 30-day free trial!

Start For Free

No credit card required

We Recommend ShopKeep POS 🏆

ShopKeep POS is one of our top picks for Point of Sale software!

 

 

ShopKeep is offering free eCommerce tools and free online ordering for all existing and new customers for the next 3 months!

Get Started

Get started with no commitment today.

We Recommend Fundera 🏆

Fundera is one of our top picks for SBA loans!

 

 

Fundera is a free-to-use marketplace that allows you to compare lenders side-by-side. Easily find SBA 7(a)loans alongside other financing options.

Get Started

Get started with no commitment today.

We Recommend ShippingEasy 🏆

ShippingEasy is one of our top picks for shipping software!

 

 

ShippingEasy got a 5-star review from our team. Get a 30-day free trial to access discounted USPS and UPS shipping rates and print labels in no time. No credit card required.

Get Started

Get started with no commitment today.

We Recommend Square POS 🏆

Square POS is one of our top picks for Point of Sale!

 

 

Square is free to use and include a free card reader at sign up! No credit card required to create your account.👌

Get Started

Get started with no commitment today.


 

Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.

Sign up for the Maverick Newsletter

  • We occasionally send out emails with special offers.