Best Accounting & Finance Software

Let our Accounting & Finance Software Experts help you find the right Software for your Business!

Last updated: Aug 28, 2019
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick score ITQlick Score is a 1 to 100 score, based on pricing, and functionality Vs. alternative solutions
Pricing score pricing Score is a 1 to 10 score, based on the TCO (cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
License pricing license pricing (if provided by the software vendor)
Hosting
Functionality score
Fit small business
Fit medium business
Fit large business
Software review
Compare
QuickBooks
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
97/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
3.2/10
License pricing license pricing (if provided by the software vendor)
$250 Per license
Hosting
On premise and Cloud
Functionality score
20
Fit small business
Fit medium business
Fit large business
Software review
FreshBooks
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
95/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
2/10
License pricing license pricing (if provided by the software vendor)
$15 Per month
Hosting
On premise and Cloud
Functionality score
28
Fit small business
Fit medium business
Fit large business
Software review
Xero
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
94/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
2/10
License pricing license pricing (if provided by the software vendor)
$28 Per month
Hosting
On premise and Cloud
Functionality score
46
Fit small business
Fit medium business
Fit large business
Software review
Cougar
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
93/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
2.6/10
License pricing license pricing (if provided by the software vendor)
Pricing not available
Hosting
On premise and Cloud
Functionality score
16
Fit small business
Fit medium business
Fit large business
Software review
Multiview
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
93/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
3.8/10
License pricing license pricing (if provided by the software vendor)
Pricing not available
Hosting
On premise and Cloud
Functionality score
23
Fit small business
Fit medium business
Fit large business
Software review

TOP 10 Accounting & Finance Software

1. QuickBooks

  • Best for: Start up, Small business, Medium business
  • Price: Starting from $250 Per license
  • Mar 27, 2019
Compare QuickBooks Vs. QuickBooks

Quickbooks is a cloud-based accounting software designed for self-employed and small businesses. The solution helps the user manage all their finances with either an online version or licensed.


2. FreshBooks

  • Best for: Small business, Medium business
  • Price: Starting from $15 Per month
  • Jan 05, 2019
Compare FreshBooks Vs. QuickBooks

FreshBooks is built for small business owners to get organized and get paid. You'll spend less time billing, and more time getting down to business.FreshBooks is simple and intuitive, so accounting isn't intimidating.FreshBooks updates are automatic and never noticed. No hassles or headaches.Gettin...


3. Xero

  • Best for: Small business
  • Price: Starting from $28 Per month
  • Jun 01, 2019
Compare Xero Vs. QuickBooks

Xero is a cloud-based accounting and finance software for small, start-up, and growing enterprises. It has invoice management, purchasing, bank reconciliation, and bookkeeping features which help businesses boost their cash flow.


4. Cougar Business Accounting

  • Best for: Small business
  • Price:
  • Aug 08, 2019
Compare Cougar Business Accounting Vs. QuickBooks

Everything you expect from a leading business accounting solution, plus the tools to manage cash flow, monitor profitability, analyze trends, track inventory, and mCougar Business Accounting (CBA) by Cougar Mountain Software is a modular accounting solution which provides customers with reliable and...


5. Multiview Financial Software

  • Best for: Small business, Medium business, Large business
  • Price:
  • Mar 30, 2019
Compare Multiview Financial Software Vs. QuickBooks

Multiview Financial Software is a cloud-based modular financial management system that incorporates accounts payable, accounts receivable, purchase order management, a general ledger, inventory management, business intelligence, order management, document management, and more.


6. Wave Accounting

  • Best for: Start up, Small business
  • Price: Has free version
  • Apr 06, 2019
Compare Wave Accounting Vs. QuickBooks

Wave Accounting software is a fully integrated, web-based accounting solution tailored exclusively for small organizations. The software allows the users to access their documents any time from anywhere.


7. Adminsoft Accounts

  • Best for: Small business, Medium business
  • Price:
  • Apr 06, 2019
Compare Adminsoft Accounts Vs. QuickBooks

Adminsoft Accounts software is a cloud-based accounting solution designed for small to mid-level businesses and can also be deployed as an on-premise solution. The software incorporates numerous features and functionalities including purchase ledger, sales ledger, Bank Reconciliation, Billing & Invo...


8. MoneyDesktop

  • Best for: Small business, Medium business
  • Price:
  • Apr 09, 2019
Compare MoneyDesktop Vs. QuickBooks

MoneyDesktop is a cloud-based financial management software. Money desktop offers personal financial management tools directly from online banking. This software makes money management easier as a user can aggregate and track their finances across all the relevant financial institutions.


9. MultiCHAX

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Mar 24, 2019
Compare MultiCHAX Vs. QuickBooks

MultiCHAX is a check printing solution for small and medium businesses. It manages printing of payables and payroll checks along with MICR coding. The software was developed and launched by CHAX Inc headquartered in California, United States.


10. bkper

  • Best for: Small business, Medium business
  • Price:
  • Aug 28, 2019
Compare bkper Vs. QuickBooks

bkper is a growing cloud-based Accounting-Finance software, it is designed to support small and medium size business. bkper received a rating of 4.8 from ITQlick team. The software cost is considered affordable (2.4/5) when compared to alternative solutions.



A Buyer's Guide to Accounting & Finance Solutions

Accounting & Finance Software Buyer’s Guide
 
Whether you’re in a small business or a corporation, accounting and financial systems are essential backbones of your operation. Income statement, balance sheets, and tax declarations all rooted from one important department – the Accounting. The intensifying campaign of public and private authorities against financial frauds is a loud call for all businesses to strengthen their accounting measures.
 
In compliance to Generally Accepted Accounting Principles (GAAP), the purpose of accounting software is to consolidate accounting processes into a single information system. It is a financial management solution that caters a variety of financial programs for any industry and size of organization. Whether you will be getting it for free or on a premium-based subscription, you need to be cautious when getting your accounting software. So here’s the Buyer’s Guide from ITQlick.com that will give you more insights about accounting solutions.
 
Types
There are two important factors to consider when deciding on which accounting solution is to acquire. First is the type of market where you operate and second is the type of application that you need. It is highly recommend that you start with identifying the market base on the size of your business and then proceed with pointing out what applications are really needed by your business.
 
By Market Level
 
Personal Accounting
It is simple and basic, good enough to manage your accounts payable, receivable and budget. It’s for a start-up home-based business.
 
Low-end Market
Types of software on this market have general accounting functions – general ledger, bookkeeping, etc. However, since they are low-end systems, they may not be GAAP compliant and their security features are very adequate.
 
Mid-market
If you’re looking for industry-standard accounting system, it’s on the mid-market category. Other than general accounting functions, this type of software can be purchased bundled with other management information systems.
 
High-end Market or Tier 1
Highly customizable, complex and expensive are what describes accounting software under this market. Usually part of a more sophisticated Enterprise Resource Planning (ERP) system, high-end accounting solutions also require high level of implementation.
 
Vertical Market
If you’re a niche market (banking, construction, real estate, etc.) player, then an industry-specific accounting software is for you. Software under this market are generally custom-built.
 
Hybrid Solutions
Both features of the mid-market and high-level market solutions are on this accounting solution. It has the features of the technology like SaaS and of ERP systems that have advance customization and extreme scalability.
 
By Application Type
 
In software development, different business transactions will have their equivalent software modules. Accounting solutions follow this practice by segmenting an accounting system into different modules or sub-systems base on their application. Here are the available accounting solutions in the market today.
 
  • Core Accounting
  • Project Accounting
  • Fund Accounting
  • Inventory Management
  • Billing and Invoicing
  • Budgeting and Forecasting
  • Fixed Asset Accounting
  • Fixed Asset Management
 
Whether you’re looking for a basic system, an enterprise solution, or industry-specific, best-of-breed solution, concrete knowledge and understanding of the market and of the different software applications available are keys to your smooth, well-executed software purchase.
 
Features
When it comes to features, your accountants and CFO can greatly help in figuring out if a solution has all the functions and characteristics needed by your business. Invite them into your kick-off meetings and find out if these features are available in your prospect solution.
 
Accounting and Business Features
It doesn’t necessary to be an all-in-one package. But the basic accounting tools plus the non-core accounting modules that are important in your everyday business operation such as purchase requisition, timesheet, and payroll must also be available in the system, if not all.
 
Time-Saving Features
When talked about convenience, an accounting system must not be difficult to use. Features like automated billing, customer’s online access to their accounts, and wide options in reporting must be available. Automation and time-saving always coincides.
 
Remote Access and Mobility
Check if the accounting software has mobile versions and ensure that these versions are compatible with the type of phones your employees are using – iPad, Android phones, Windows-based. Remote support offered by the Virtual Network Computing (VNC) technology is a feature that you should also consider.
 
Add-ons Business Services
Credit and debit card processing, e-commerce website integration, and payroll processing are just some of the additional features present on much modern accounting software.
 
Solutions per Market, per Vendor
Excellent sources of information for accounting solutions are websites, like ITQlick.com, that publish reliable reviews, rankings, and benchmarking. Expensive software doesn’t mean that it’s the right software for your business. Inexpensive and even free solutions cannot guarantee you a fool-proof accounting system but they could be the right solution. Review this benchmark prepared by ITQlick.com experts for more information.
 
Vendor Accounting and Business Time-saving Remote Access and Mobility Add-on Services
 FreshBooks 10 9.38 10 7.5
 QuickBooks 8.75 10 9.38 8.75
 SageOne 10 8.75 6.25 8.75
 Zoho 10 8.75 8.75 6.25
 Xero 10 6.25 8.75 8.75
 AccountEdge 8.75 9.38 5 7.5
 Less Accounting 8.75 8.75 6.25 5
 WorkingPoint 8.75 7.5 8.75 3.75
 FreeAgent 8.75 7.5 6.25 5
 Yendo 7.5 7.5 6.25 5
 
Above vendors are offering cloud-based solutions and are between the low-end to mid-market level. On the other hand, top players (and their product) in the mid-market are Sage ERP 300, Microsoft Dynamics NAV, SAP BusinessOne, Epicor 9, and Macola ES. High-level market (or Tier 1) leaders are Infor, JD Edwards, Lawson, Oracle, People Soft, and SAP.
 
Pricing Considerations
From the list of vendors in our benchmark sheet, both Zoho and FreeAgent have $24 per month per unlimited number of users’ subscription price. The average subscription price for these ten vendors is $17. With this average, a company with 25 users will spend around $5,000 a year. Still not accounted are the costs of implementation, customization, training, and support services. A client will roughly spend 50-200% of the price of software in implementation and consulting services. These are the variables to consider in the Total Cost of Ownership (TCO). Accounting solutions sold as part of a more complex ERP system will have a TCO from about $100K up to a whooping $50M.
 
Market Trends
The cloud technology is a hot trend in accounting software. Among of the reasons on why businesses choose to operate in the cloud today is because of lower upfront costs and faster time of implementation. Most accounting software today has comprehensive functionality. It is not just one or two modules but multiple modules on a single package.
 
Business intelligence tools with accounting software are on their way to development. This is about integrating system over system to maximize the efficiency of single but more powerful software.

ITQlick chart - 2020 best Accounting & Finance Software

2020 best Accounting & Finance Software | ITQlick.com
Finding the right Accounting & Finance software for your business
Proper Accounting & Finance software selections are the precursor to successful deployment and business growth. Finding the right Accounting & Finance solutions doesnít have to be complicated, and it doesnít have to take days or weeks of your time.

After researching over 5,000 systems, we can identify the best solution for companies of all shapes and sizes. ITQlick.com is 100% free for software buyers.



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