21 Accounting Software Programs To Fit Your Business Needs

Most accounting teams use software programs to manage their company's financial accounts. There is a wide range of available programs, each with its own features, which might be suitable for different types—and sizes—of companies. If you're an accounting professional, learning about the different accounting programs available today can help you better choose the ideal program for your needs.

In this article, we discuss accounting software and describe 21 accounting software programs used by businesses today.

What is accounting software?

Accounting software programs allow a company's accounting teams to monitor the company's financial status easily and quickly. Many of these programs integrate with the company's sales or customer management platforms, allowing the accounting software to update automatically when the company makes a sale or issues a refund. If you're an accounting professional, you might use these products to perform the following tasks:

• Track expenses

• Monitor revenue

• Run payroll

• Create invoices

• Price inventory

• Report profits and losses

• Monitor accounts receivable

• Create tax reports

• Collect information for audits

Related: Software for Accounting: What It Is and How To Choose It

21 accounting software programs

Here are 21 accounting software programs that might be suitable for businesses of varying sizes:

1. FreshBooks

FreshBooks is an invoicing and accounting software for small and mid-sized businesses and freelance professionals. It uses cloud-based software, making it easy to access on desktops, laptops and mobile devices.

Key features include:

• Invoicing tools, including recurring invoicing

• Single-dashboard format

• Integration with other applications

• Expense monitoring

• Automatic deposits

Related: 7 Basic Accounting Concepts To Improve Your Financial Skills

2. Intuit QuickBooks

Intuit QuickBooks is a popular option for freelancers, small and mid-sized businesses. Quickbooks offers different products and pricing to fit unique business needs.

Top features of this platform include:

• Time tracking

• Inventory recording

• Payroll processing. 

• Integration with other applications, including transaction software

• Real-time updates

• Tax reporting tools

Related: 4 Ways To Learn QuickBooks

3. Melio

Melio is an accounting and payment platform for business owners, accounting firms and freelancers. The company offers different services, which have their own costs. Using the payment platform is free, but may include fees for transactions.

Key features include:

• Payment processing

• Team dashboard

• Project management tools

• Integration with other accounting programs

• Invoice creation

• Support for multiple currency types

4. Plooto

Plooto is an accounts payable and accounts receivable platform that provides businesses with automated tools to streamline their collections and payment processes. The platform also makes it easier for companies to accept credit card purchases and has a suite of accounting tools.

Key features include:

• Credit card acceptance

• Invoice creation

• Support for multiple currencies

• Integration with other accounting software

• Flat fee with unlimited users

• Bank connections

5. Xero

Xero is a cloud-based accounting program built for growing companies. While many accounting software programs charge per user, Xero allows you to add more users without a price change. Independent accountants and freelance bookkeepers might also use this program.

Key features include:

• Inventory tracking

• Recurring invoice capability

• Multi-currency accounting for companies that operate in different countries

• Integration with over 700 external applications

• Project cost tracking

Related: 19 Bookkeeping Software Tools for Small Businesses

6. Kashoo

Kashoo is accounting software for small business owners and freelance accounting professionals. The company offers different products for small businesses, or micro-enterprises, that conduct fewer than 500 transactions in a year.

Top features include:

• Unlimited number of users

• Income and expense tracking

• Categorization of debits and credits

• Automatic reconciliation

• Online invoice payments

• Connection to bank accounts

• Collaboration features to with other accountants and bookkeepers

Related: What Is a Micro-Enterprise and Why Are They Important?

7. myBooks by Zetran

MyBooks by Zetran is a cloud-based accounting program for small businesses. The company uses a monthly subscription model, with a free option for very small businesses. Paid versions have more robust features and allow more transactions.

Top features include:

• Invoice creation

• Statements in easy-to-read graphs and charts

• Templates

• Simple configuration

• Analytical dashboard

• 24/7 support via chat

Related: What Is Basic Accounting?

8. Hiveage

Hiveage is an invoicing software that also has some financial reporting features. It might be a good fit for companies that invoice lots of clients, because it allows an unlimited number of end users.

Here are some of its main features:

• Time tracking

• Online payment tool

• Recurring payments tracker

• Mileage tracker

• Shareable paylinks

• Unlimited number of clients

• 14-day free trial

Related: Online Invoicing: Benefits, How-To Guide and Example

9. Sage 50cloud

Sage 50cloud is a desktop-based application that integrates with other apps via the cloud. The software accepts multiple users easily, so it might be a good fit for companies with larger accounting teams.

Top features include:

• Inventory management

• Payment and expense tracking

• Invoice sending

• Advanced inventory management

• Job costing

• Reporting, including tax information

Related: What Is Inventory Management? Definition and Techniques

10. Wave

Wave is a cloud-based software designed for business owners with limited or no bookkeeping experience. The program has a free option, but paid monthly subscriptions have more robust tools and allow payroll processing.

Top features of the free version include:

• Tracking of transactions

• Receipt scanning

• Invoice management

• Offers a paid monthly subscription if you need payroll processing

11. Sunrise by Lendio

Sunrise by Lendio is an accounting and invoicing platform for small businesses. It has a free version, but paid versions of the program offer more features and support.

Key features include:

• Connection to your bank accounts

• Profit and loss reports

• Branded invoices

• Payments accepted via credit card

• Automatic payment options

Related: Accounting Information System: What it Is and How it Works

12. Canopy

Canopy is a cloud-based accounting program designed for accounting firms and freelance bookkeepers. The company offers a free demo, and you can choose which features you want to pay for when you subscribe to a paid service.

Top features include:

• CRM that allows you to set up portals for your clients

• Document management

• Time tracking

• Automatic billing

• Easy workflow creation

• Free trial for 20 contacts

Related: 4 Types of Accounting Worksheets for Financial Preparation

13. Patriot Accounting

Patriot Accounting is a payroll and accounting software that also has HR and management tools. You can choose the services you want to pay for, with the payroll and accounting platforms serving as the base product.

Top features include:

• Invoice creation

• Payment recording

• Bank transaction importing

• Accounts receivable tracking

• Estimate creation tools

• 30-day free trial

14. ZarMoney

ZarMoney is a cloud-based accounting software with different options for individual entrepreneurs, small businesses and large enterprises. Along with payroll and accounting, it includes some logistics management tools, which might make it a good fit for companies that ship inventory to customers.

Some of the key features include:

• Inventory tracking

• Quote and estimate creation

• Custom alert system

• Sales orders

• Multiple users supported

• Simplified tax reporting

• Integrations with a range of HR software

• Two-week free trial

Related: 10 Inventory Management Software Options (With Features)

15. Bench

Bench is an online bookkeeping and accounting software that mostly focuses on taxes. It turns financial statements into forms that are ready for tax filing. The program also provides support for business owners and accounting teams who need help catching up on their bookkeeping.

Top features include:

• Bookkeeping team that imports bank statements and prepares financial statements

• Year-end package with tax-preparation materials

• Access for user's CPA

• Monthly financial statements

• Mobile app

16. Pabbly

Pabbly is an online business management platform that has a subscription management tool. It allows companies to bill subscribers and export financial information from their subscription programs easily. This program might be a good option for companies with subscribers across the world since it supports multiple currencies.

Key features include:

• Ability to view net revenue and new subscriptions

• Automated options such as invoice creation and customer communication

• More than 23 currency options through different payment systems, including PayPal, for those working with customers in other countries

• Integration with Pabbly's workflow and marketing management applications

Related: ERP and Accounting Software: Their Key Differences

17. AccountEdge Pro

AccountEdge Pro is a platform for small businesses or accountants. It features a wide range of accounting tools and might be more appropriate for experienced users. AccountEdge is optimized for desktop use, but there's also a browser version for users who want to collaborate online.

Top features include:

• Double-entry accounting tools

• One time purchase

• Full-service payroll

• Customer and vendor management

• Direct deposit

Related: What Is Payroll Accounting (Definition and Examples)

18. Accounting Seed

Accounting Seed is accounting software for small and mid-sized businesses. The program features lots of automation, which might make it a good fit for companies with small accounting teams.

Some of its top features include:

• Ability to sync with other business applications

• Integration with bank accounts

• Recurring billing

• Cloud-based format that allows remote log-ins

19. Holded

Holded is an accounting and business management software that markets itself as the management software for SMEs (subject matter experts). It serves both small business owners and freelance consultants. It has a tiered subscription model, where pricier versions have more advanced features.

Top features include:

• Invoicing

• Project management

• Inventory tracking

• Connect to banks

• Classification systems for transactions that are organized automatically

Related: 9 Types of Accounting (Plus 5 In-Demand Accountant Careers)

20. Zipbooks

Zipbooks is an online accounting and invoicing software for businesses of varying sizes. There is a free invoicing tool, but a paid subscription adds bookkeeping and other accounting features. There's also a special version of the program for accountants.

Key features include:

• Invoicing

• Automated billing

• Payment reminders

• Intelligent reporting

• Color-coded online payments for ease of use

21. OneUp

OneUp is a business banking platform that also supports inventory management. This program might be a good fit for companies that often ship inventory or use a third-party fulfillment system.

Top features include:

• Ability to convert quotes to invoices

• Inventory and shipping management

• Bank entry categorization

• Track billing

• Integration with lead management programs

Related: Types of Accounting Systems (Plus How To Choose the Right One)

Please note that none of the companies mentioned in this article are affiliated with Indeed.