Small to medium enterprises have started moving their data to the cloud as more and more web-based accounting tools become available. The options are endless, and the competition in this industry is fierce. There are more than five solutions that stand out from the crowd. However, the top 5 cloud based accounting software for small business is covered below.
FreshBooks is a simple cloud-based solution that helps business owners track their expenses, record their sales and invoice their customers. It’s complete and robust accounting software. Above all, it’s software that allows you to integrate it with popular third-party addons that span from CRM software, inventory tracking software and many more.
It is a cloud-based accounting service that users can access through any mobile device or desktop computer. The cloud securely stores and backups the financial data for clients.
Users can create customised invoices, send payment reminders and manage multiple projects. Over 5 million small to medium enterprises worldwide use FreshBooks. The interface is straightforward to use, and it focuses on the users.
QuickBooks has long been a favourite accounting tool for small business owners across the globe and their cloud based accounting software does not disappoint. While some companies use the self-hosted and standalone versions, QuickBooks Online is an excellent tool to handle any SME’s accounting needs. Its competitive pricing is something that makes it very attractive.
It becomes a more attractive solution for small business owners due to a 30-day risk-free trial where users can try the accounting tool. It allows users to create invoices, download banking transactions, track sales, generate reports, and so much more. This web-based program can also export data to Microsoft Excel for presentations and reports. QuickBooks also allows you to utilise addons such as project management addons, customer support addons, payment gateways, etc.
Xero is an accounting software package that currently has over 200,000 users. It is available in the United States, United Kingdom, Australia and New Zealand (where the company is also listed). This cross-platform product is available at a very competitive price. It is straightforward to use, which is also why it became so prevalent for small to medium enterprises and freelancers.
It offers all the standard features users expect of cloud-based accounting software, such as easy invoice wizards, multiple currency support and bank reconciliations. This software also can pay bills on time and track company expenses. There are a set of financial tools available on the user dashboard that allow businesses to create documents with the help of step-by-step wizards. These financial reporting tools are available for users who are constantly on the go to access their documents on any smartphone, tablet or computer.
The first great thing customers will notice about this accounting package is the “love accounting” tagline. Crunch lives up to this catchphrase as it makes accounting tasks very simple. It has a user-friendly interface that offers modern accounting solutions for small and medium enterprises.
The intuitive dashboard allows users to manage all their documents so that everything stays organised. This interface is perfect for freelancers, contract workers or small businesses who want to take advantage of the cloud. This package is available for download on mobile iOS version or a limited free trial. Please note that crunch is available only in the UK.
Kashoo is a cloud accounting service that is also very simple. Users can access their dashboard through any apple device or web browser. This accounting app is best for small businesses that do not have many transactions to manage and want to limit the time they spend to record transactions daily. The features included in this app are professional invoice wizards, the ability to connect to credit cards and online bank accounts, options to categorise cash flow and tax reporting.
Small businesses who want to use this app can share their business data with an accountant over the internet in a secure environment. Kashoo is known for top-notch transaction security. Users are required to pass a double-entry barrier to access documents such as financial statements and bank reconciliation. The beautiful thing about this accounting package is that it comes at a low price.