Top 6 Accounting Software and Platforms for Your Company
Accounting software is a tool that business owners and professionals use to manage accounts and process accounting transactions. It gives a business the fundamentals to record the inflow of money internally and externally. Using accounting software makes it more efficient than manual processing because it saves time with automated features. There are hundreds of accounting software available with different benefits and features. Some are designed for small to large enterprises. Accounting software helps to manage critical business processes by generating cash flow reports, managing expenses, and payroll, creating purchase orders, and automated accounts.
In this article, we shall identify some of the top accounting software and platforms with features for your company.
Accounting Softwares and Platforms
Backline
Backline is a provider of cloud-based solutions that transform finance and accounting (F&A) by automating, centralising, and streamlining financial close operations, intercompany accounting processes, and other key F&A processes for large and midsize organisations.
Features-
- Accelerate cash application and optimise working capital
- Orchestrate and automate SAP close activities
- Ensure balance sheet completeness and accuracy
- Centralise and standardise the month-end close
- Automate manual processes and optimise time
- Unify intercompany accounting for global alignment
- It provides strong security controls with physical, network application, and data-level security.
FreshBooks
FreshBooks is an accounting software solution founded in 2003 and designed to help small businesses keep track of their finances. Freshbook also offers invoicing automation and template creation, robust reporting features, and time tracking. the platform has a focus on simplicity by ensuring that small-scale businesses have the features they need in a cloud-based platform. It’s specially designed for professionals, business owners, and freelancers because the platform makes it easy to track payment, detailed reporting, and automated payment reminders.
Features-
- Automatically scans your business accounts and matches activity against your financial records in Freshbooks to ensure accuracy and consistency
- Time tracker
- Simple and intuitive interface
- Record and track expenses
- Accurate payroll information
- Pricing starts at $7.50 per month for the lite package for self-employers, and $25 per month plus for organisations with more complex, accounting needs.
- Pre-populated Chart of Accounts
- In-App Estimates and Proposals
- App Integrations
- Easy invoicing
- Record payment
- Invoice customisation
Kashoo
Kashoo is an accounting software solution designed for easy use. The platform is built for freelancers, developers, designers, and small business owners providing a large range of generating invoices and tracking income and expenses. As small business owners, you have the control and simplicity of doing your own bookkeeping. It also gives an owner the chance to generate reports, views transactions, and accept credit card payments through square integration.
Features-
- Account receivable
- Audit trail
- Approval process control
- Access permission
- ACH payment processing
- Hourly billing
- Dashboard creation
- Cash flow management
- Financial reporting
- Income and balance sheet
- Transaction history
- Tax calculation
- Third-party integrations
- Receipt management
- Online invoicing
- Summary reports
- Receipt management
- Pricing starts from $20 per month, $27 per month (billed annually), or $30 (billed monthly)
Sage Accounting
Sage Accounting is a financial software provider specializing in accounting, payroll, and HR solutions for SMBs and accountants. Sage Intacct is their holistic, cloud-based finance software solution designed to help small businesses monitor and manage their financial transactions—including their accounts payable. Because of its robust feature set, Sage Intacct has ranked highly as an SMB solution for five consecutive years in Gartner’s Critical Capabilities for Cloud Core Financial Management Suites for Midsize, Large, and Global Enterprises reports. It enables organisations to manage accounting, finance, and payroll processes. Sage Business Cloud Accounting is designed for freelancers and small businesses, providing automation, simplified invoicing, and remote access to simplify the accounting process. The platform is fully cloud-based and easy to deploy, helping businesses to reduce costs and improve efficiency. Customers highlight the platform’s reporting and dashboard functionality, and its ease of use.
Features-
- Contingency Billing
- Credit Card Processing
- Customizable Branding
- Customizable Invoices
- Customizable Reports
- Customizable Templates
- Document Management
- Document Storage
- Dunning Management
- Electronic Payments
- Email Management
- Estimating
- Expense Tracking
- Recurring/Subscription Billing
- Reminders
- Reporting & Statistics
- Sales Tax Management
- Tax Calculation
- Third-Party Integrations
- Time & Expense Tracking
- Timesheet Management
- Workflow Management
- API
- Accounting
- Accounting Integration
- Activity Dashboard
- Activity Tracking
- Alerts/Notifications
- Pricing at a $10 per month flat rate
Intuit Quick Books
Intuit Quick Books is an accounting software package developed and marketed by Intuit. First introduced in 1983, QuickBooks products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, and payroll functions.
QuickBooks provides all key bookkeeping services, including accounting features, live bookkeeping, reporting and insights, payment management, payroll, integrations, and time tracking. These features make the solution ideal for organizations looking to track income and expenses, automate tasks, and gain deeper insights into payment processes. The software is user-friendly and simplifies the tracking of financial information, automating many key tasks and processes such as sales tax management, budgeting, and bank reconciliation.
Features-
- Bank Feeds.
- Cloud Accounting.
- Invoicing
- Accounting Reports.
- Inventory Management.
- Data Migration.
- GST and VAT Tracking.
- Pricing starts from $8.50/month for a simple start, $13/month for essentials, and $18/month for plus
- Automated Payment Reminders
- Receipt Management
- Track invoice history
- Alternate vendors report
- Landed costs
SAP
SAP Business one was founded in 1973 is a global leading provider of business process management software, including HR, finance, CRM, business technology, and supply chain solutions. SAP Concur is their suite of expense and invoice management tools, which includes SAP Concur Invoice. Concur Invoice digitizes and automates all end-to-end processes and workflows, helping SMBs to increase visibility into their financials and make their cash flows more efficient. And with SAP Concur’s mobile app, accounting teams can do this from anywhere, at any time. The SAP B1 accounting and finance platform enables organizations to maintain ledgers, calculate tax, and manage cash flows across multiple currencies. Key financial data processes are automated to save time and reduce errors. In addition, SAP provides detailed reports to help you track KPIs and view company-wide trends.
Features-
- Business Intelligence ·
- Report creation and customisation ·
- Interactive analysis ·
- Intuitive tools ·
- Analytics with predefined metrics ·
- Powerful data visualisations
- Financial reporting and analysis
- Banking and reconciliation
- Fixed asset management
- Customer management
- Accounts payable
- Pricing is dependent on the number of users, deployment type (cloud or on-prem), and features required
Final word
In other words, doing accounting manually is possible but stressful. These tools will help you decrease the time and efforts you spend and also manage your workload successfully.
We hope you enjoyed reading the article.
