As the lifeblood of any successful business, accurate bookkeeping and financial analysis are essential for any startup or emerging business. Choosing the right accounting software can be confusing, with so many options out there. To help you make an informed decision, we’ve compiled a list of the 5+ best accounting software for startups and emerging businesses. From cloud-based to desktop solutions, these accounting tools deliver powerful features to help manage finances and gain valuable insights into your company’s financial performance.
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Xero is a revolutionary cloud-based accounting software that has transformed the way businesses manage their finances. With its user-friendly interface and comprehensive suite of features, Xero makes it easy for businesses of all sizes to manage their accounting processes efficiently and effectively.
One of the standout features of Xero is its invoicing tool, which allows businesses to create professional-looking invoices that are fully customizable with their branding. The tool also enables businesses to set payment terms and automate payment reminders, reducing the risk of missed payments and improving cash flow.
Xero's inventory management feature is another standout tool that allows businesses to track their stock levels, sales, and purchase orders in real-time. With this feature, businesses can make informed decisions about inventory, avoid overstocks or shortages, and streamline their supply chain management processes.
Payroll processing is a critical function for businesses, and Xero makes it simple with its payroll feature. The tool automates payroll calculations, including employee salaries, taxes, and deductions, saving businesses time and ensuring compliance with relevant tax laws and regulations.
- Bills & Expenses
- Invoicing
- Inventory management
- Payroll
- Bank reconciliation
- User-friendly interface for small business owners
- Extensive third-party app integration
- Advanced inventory management
- Higher pricing for advanced features and multi-currency support
- Some users may find the interface too simplistic or lacking in advanced features
- Limited mobile app capabilities
Pricing for Xero starts at $13/month and moves up to $70/month pricing from there. You should connect with their team to learn more about the capabilities with each plan.
Best Fit For:
small and medium sized business
Free Trial Offered?
YES
NO
Pricing Plan 1:
$13/month
Pricing Plan 2:
$70/month
- HubSpot
- Stripe
- Shopify
NetSuite is a cloud-based accounting software that provides financial management, inventory management, and order management features. It is aimed at businesses of all sizes and includes integrations with various other business tools.
- Invoicing
- Financial management
- Inventory management
- Order management
- Project management
- Unified platform for financial, inventory, and order management
- Comprehensive reporting and analytics
- Flexible customization and scalability
- Higher pricing for advanced features and customization
- Steep learning curve for some users
- Limited customer support options
Pricing for NetSuite starts at Custom and moves up to Custom pricing from there. You should connect with their team to learn more about the capabilities with each plan.
Best Fit For:
small and medium sized business
Free Trial Offered?
YES
NO
Pricing Plan 1:
Custom
Pricing Plan 2:
Custom
- Salesforce
- Expensify
- Dropbox
AccountEdge is desktop accounting software aimed at small businesses. It includes features such as payroll and inventory management, along with various other accounting features.
- Invoicing
- Invoicing
- Expense tracking
- Financial reporting
- Payroll
- Comprehensive accounting and financial management
- Advanced inventory and payroll management
- Powerful time billing and reporting
- Limited cloud-based capabilities and mobile access
- Limited integration options with other software
- Higher pricing for advanced features and multi-user support
Pricing for AccountEdge starts at $15/month and moves up to Custom pricing from there. You should connect with their team to learn more about the capabilities with each plan.
Best Fit For:
small and medium sized business
Free Trial Offered?
YES
NO
Pricing Plan 1:
$15/month
Pricing Plan 2:
Custom
- Bill.com
- Microsoft Office 365
- HubSpot
Wave is a free cloud-based accounting software that provides features such as invoicing, expense tracking, and accounting reports. It is primarily aimed at small businesses and freelancers.
- Invoicing
- Invoicing
- Expense tracking
- Accounting reports
- Credit card and bank account connections
- Completely free accounting software
- Easy receipt scanning and expense tracking
- Automated financial reports
- Limited features compared to other software options
- Some users may find the interface too simplistic or lacking in customization options
- Limited customer support options
Pricing for Wave starts at $0/month and moves up to $40/month pricing from there. You should connect with their team to learn more about the capabilities with each plan.
Best Fit For:
small and medium sized business
Free Trial Offered?
YES
NO
Pricing Plan 1:
$0/month
Pricing Plan 2:
$40/month
- Etsy
- Trello
- Dropbox
Odoo is an open-source accounting software that includes features such as invoicing, expense tracking, and inventory management. It is primarily aimed at small businesses and includes various other business tools.
- Invoicing
- Invoicing
- Expense tracking
- Inventory management
- Financial reporting
- Open-source platform with modular design for customization
- Comprehensive financial and project management
- Advanced CRM and eCommerce capabilities
- Steep learning curve for some users
- Limited customer support options
- Some users may find the interface too complex or cluttered
Pricing for Odoo starts at $31.10/month and moves up to $46.80/month pricing from there. You should connect with their team to learn more about the capabilities with each plan.
Best Fit For:
small and medium sized business
Free Trial Offered?
YES
NO
Pricing Plan 1:
$31.10/month
Pricing Plan 2:
$46.80/month
- Shopify
- Gmail
- FedEx
