16447003 - accounting

Last Updated on

Keeping track of your financial activity is critical to the smooth running of your business. Of course, you don’t want to invest too much on an accounting tool. Worry not! We bring to you a list of some of the cheapest accounting solutions that will make work more efficient while keeping a track of all of your transactions. All in all, a complete accounting solution includes reporting, payroll, ledger, accounts and receivable & payable. Most systems also include specialized functionalities, such as core accounting, project accounting, budgeting & forecasting, payroll, and inventory management.

As a small business, you may be looking to upgrade to more robust accounting tools that will offer support for sophisticated functions, which may include intercompany accounts, increased data storage, and demand forecasting, among others.

  1. Xero

Ideal cloud-based accounting software for small business, Xero is designed with a range of functionalities for invoicing, expense claim, automatic bank feed, and fixed asset and management reporting.  With an intuitive interface that makes navigation easy, Xero helps optimize finance and accounting processes and manage finances seamlessly. A great solution for startups and small businesses, Xero comes with a third-party apps library and is priced at $20 per month/user.

The cloud-based full-featured accounting software is available for Mac OS, Windows, and Linux with 24/7 support via email, phone, and live chat without any extra cost. Automation takes the headache out of accounting and saves time.

  1. COA Financials

A viable accounting solution for businesses of all sizes, COA Financials pricing makes the task of financial reporting, core accounting, cash management, fixed assets, project accounting, invoicing and billing, project accounting, expense tracking, bank reconciliation, fixed asset tracking, payroll management, recurring billing, purchase order management, and accounts payable & receivable easier. It is a time-saving enterprise resource planning solution that comes fully integrated with accounting software functionality.

  1. Zoho

With pricing starting at $24 per month per user, Zoho is designed to make the process of account management a breeze for businesses of all sizes, helping save time in bookkeeping and accounting and manage accounts better. The accounting software makes it easier to record, monitor, and reconcile transactions. Stay top on your business with this solution, which facilitates the task of reconciliation of bank statements, recording and monitoring all transactions. With an easy-to-customize tool like Zoho handy, you can make more informed decisions and serve customers better, eliminating accounting bottlenecks and easing up invoicing through automation.

Record and track bills, financial reports and manage your customer, vendor information and other business contacts with one platform. As one of the cheapest accounting software tools, Zoho includes support for tax management, providing easy access to the system for tax advisors for financial analysis, eliminating hassles from returns filing.

  1. FreshBooks

With a simple, intuitive interface, FreshBooks is the best accounting software for small businesses, helping you stay organized and get paid. It takes the headache out of managing accounts, so you do not have to spend much time on billing. An ideal finance management solution for freelancers and small businesses, FreshBooks makes it easy to organize expenses, send invoices, track time spent on a job, record expenses, include taxes, and charge clients based on proper documentation of completed projects.

Invoice generation with FreshBooks is a breeze, saving you time otherwise spent on tracking your accounts and worksheets. You can set late payment reminders, ensuring you get paid for work done and bill your client accordingly. The accounting management software is compatible for smartphones as well.

With the basic free account, users can invoice up to 3 clients. The paid packages start at $19.95 per user per month.

  1. Financial Force

A flexible accounting solution that grows with your business, Financial Force is a comprehensive tool to manage finances and accounts. It is designed with such features as accounts receivable and payable, cash management, ledger, ordering & billing, revenue management, and workflow sharing. The cloud-based solution offers real-time reporting, so users can close books faster. It offers a 360 degree view of user activities, keeping a track of anything and everything related to accounts and finances.

With the cash management capability, the accounting software offers automatic reconciliation of bank statements, multi-currency support, and customer refund payment. Its accounts payable feature provides such services as pay processing, workflow processing, streamlined and electronic invoice, authorization processing, and duplicate invoice detection.

While these are some of the cheapest accounting solutions, there are many more that fall under the category. If you are looking for an affordable accounting system that can cater to your specific business needs, the ITQlick team can make top software recommendations. Benefit from our knowledge and huge database to improve, grow your business.