Accounting is essential to any business: that’s why you need the best accounting service that exists. It has to be a flexible, powerful financial tool, embedding perhaps time management features, and capable of keeping not only your expenses, but also planning for the future.
Allow us to be clear: accounting can be very, very boring. You need precision, focus, and sometimes an exceptional proficiency in the fiscal and financial topic. So it’s easy to see why you need an adequate business software to manage properly this responsibility; otherwise, it could become a chore, and worst: it could become a serious problem.
Traditionally, accounting software could be installed and used on premises, but as SaaS spread over the last fifteen years, this type of applications morphed into a web-based tool you can use everywhere.
Despite the name, the best accounting software you can also use integrate other functions, so that you can keep under the same roof general bookkeeping, invoicing, payrolls, taxes, and they even add features like e-commerce payments, inventory management, or let your accountant access the service and download your files. Most of them can communicate with your bank and facilitate account reconciliations, and some add some time-keeping to the mix, letting you invoicing your clients by your employees’ timesheets.
Of course, nowadays an accounting service that aims to be the best has to offer automatic backups of your data (even better: backup your data every day and let you schedule additional backups). It has to allow multiple user do access the information they need and has to have a top of the breed mobile app, for all the major mobile platforms.
The best accounting service is the one that better fits your needs, but it also has to empower you: let’s find the perfect one!
As an online business service, FreshBooks is one of the best accounting software you can find in the industry. It encompass an accounting tool, time tracking capabilities and invoicing features in just one product.
Xero is a web-based double-entry accounting system rich in features and unique functionalities, compared to those offered by competitors.
SutiExpenses is a powerful and versatile platform for medium and large business organization to maintain a grip on their finances and expenses. From what we’ve seen, it’s not suited for small offices or freelancers, because it’s too complicated for a professional going solo, and also (and more importantly) because it expects at least nine users.
Bill.com is an accounting service that simplifies your payments and your invoicing. It doesn’t work as a bookkeeping service, but it core strenghts lie in other features. Keep in mind that you have to integrate Bill.com with some other software to keep your books.
Wave is an accounting service that stands out because it’s a free service. It’s a really neat cloud accounting service, and it has everything you need to run your books – apart from payments and payroll, which you have to add separately.
6 Sage One
Sage One Accounting Premium is a good accounting service, although it is pretty outdated in its interface.
OneUp is a versatile online accounting service: you can use it as an accounting, invoicing, inventory and CRM web-tool. As an accounting service, it let you sync your bank account feed, to reconcile expenses & activities.