Top Accounting Service Providers for Small Businesses
When you own and operate a small- or medium-sized business, setting up a trustworthy and robust accounting system is one of the most important decisions you’ll make. With so many options available on the market for accounting service providers, making the right choice should come down to careful consideration about your software’s features, audience, and price. If you’re considering your options, here are a few of the best accounting service providers for you to take into account:
Small Businesses Use Sage for Accounting Software
Sage is one of the largest and most popular accounting software systems on the market, and for good reason - Sage is robust and comprehensive option that includes plenty of room for customization and can be integrated with your Microsoft 365 office suite. The software is only available for Windows, and needs to be installed on a local desktop to access most of its features, so Sage is best suited to companies who are looking for an in-depth, robust software, and have the hardware to make it possible.
Small Businesses Use Intuit Quickbooks (Self-Employed) for Accounting Software
QuickBooks is designed for self-employed users (like independent contractors, sole proprietors, and freelancers) who want a simple way to handle their accounting tasks. QuickBooks can easily connect to your financial accounts and import your transactions, track your mileage, create and send invoices, and estimate your quarterly taxes. It’s great for small businesses who want a simple user experience and an inexpensive option for their taxes - at $10 per month, the simplest option gives you all the basic functionality a small business would need.
Small Businesses Use Wave for Accounting Software
Wave is a double-entry accounting website that offers its services for free - this option will appeal to freelancers and independent contractors, although it could be used by small businesses without too many employees. The services do not include payroll of customer payments - those are part of the paid service - but do include new tools like reconciliation features, customer statements, and cash basis reporting.
Small Businesses Use FreshBooks for Accounting Software
FreshBooks is one the go-to accounting services for freelancers, thanks to its low price point and easy to use features. For $5.70 per month on the lowest plan, users will gain access to a double-entry accounting software that supports invoices, estimates, time tracking, and projects. With an easy to use interface and team collaboration tools, FreshBooks is a good option to keep in mind if you’re freelancing or working for a small office.
Small Businesses Use Xero for Accounting Software
Xero's accounting software is great for small businesses - it was built for the web, and supports all major areas you’d expect from an accounting system. Sales, purchases, bills, expenses and inventory can all be put through in standard transactions, which are also customizable. While it is less user-friendly than some of the other options, it’s a fairly robust and low cost ($15 per month) option that would work for a lot of small businesses.
Top accounting service providers for SMBs
A good accounting software should be affordable, easy to use, and make sense for your business' needs. Whether you need a full suite of tools or a way to create a few invoices, making the right choice can help you and your business reach your long term goals - in a way that feels easy!
Kristen Campbell is a freelance content writer based in Calgary. She has written for a wide variety of companies in the fields of healthcare, banking, and technology. In her spare time, she enjoys writing stories, reading stories, and going on long walks (to think about her stories).