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| Accounting |
Here is a list of 20 top accounting software -
1. NetSuite
NetSuite is a comprehensive cloud-based accounting and ERP software that simplifies financial management and reporting. Some of its key accounting features include:
- General Ledger: Provides flexibility and visibility in recording transactions, customizing account types, and generating detailed financial reports to meet unique business requirements.
- Accounts Receivable and Payable: Automates and streamlines invoice delivery, payment processing, collections management, and vendor bill payments to improve cash flow and liquidity.
- Tax Management: Handles domestic and global tax compliance, generating detailed tax reports and supporting multiple tax schedules like GST, VAT, and sales tax.
- Financial Close and Reporting: Accelerates the financial close process by automating manual tasks like journal entries, account reconciliations, and intercompany transactions. Provides real-time visibility into financial metrics and KPIs.
- Multi-Book Accounting: Allows managing multiple accounting books, mapping different chart of accounts, and recognizing revenue/expenses across books. Useful for businesses with complex accounting needs.
- Advanced Revenue Management: Supports revenue arrangement and plan management to automate revenue deferral, recognition, forecasting, and auditing.
Overall, NetSuite's accounting capabilities go beyond basic bookkeeping, providing a unified platform to manage finances, operations, and other business functions. However, it has a steep learning curve and high implementation costs, making it more suitable for larger, established enterprises rather than small businesses.
2. ExpensePoint
3. Striven
Striven is an all-in-one business management software suite designed to streamline various aspects of business operations for organizations of all sizes. It offers a wide range of features including accounting, inventory management, human resources, customer relationship management (CRM), project management, field service management, surveying, business analytics, and more. Striven is a cloud-based Enterprise Resource Planning (ERP) solution that integrates with popular platforms like Google, Microsoft, Authorize.Net, Yodlee, and ShipStation. It emphasizes collaboration, efficiency, and automation to enhance organizational productivity and customer satisfaction. Striven is particularly tailored for small to midsize businesses, offering the power of enterprise software without the need for a large budget. The software is praised for its user-friendly interface, real-time updates, and top-rated customer support.
4. Payhawk
Payhawk is a leading global spend management solution that combines company cards, reimbursable expenses, and accounts payable into a single product. It enables finance teams to control and automate company spending at scale, catering to fast-growing and mature multinational companies in over 32 countries. Payhawk's future-facing technology streamlines expense management, offering features like automated receipt reading, mileage tracking, credit card integration, and integrated travel booking. The software emphasizes efficiency, real-time reporting, and seamless integration with various accounting systems. Payhawk is known for its user-friendly interface, reliable receipt reading, and global reach, with offices in major cities like London, Berlin, Barcelona, Paris, Amsterdam, and Sofia. The company values diversity, inclusion, work-life balance, continual learning, and empowered teams. Payhawk is backed by renowned investors and is on a mission to improve environmental and social impact, aiming to become B Corp certified.
5. Denali Business
Denali Business is a comprehensive accounting solution designed for small to midsize businesses. Some of its key features include:
- Customizable Modules: Denali Business offers 10 integrated modules that can be customized to adapt to the unique needs of each business, including general ledger, accounts receivable, accounts payable, payroll, and inventory management.
- Robust Audit Trail: The software provides an unbreakable audit trail, ensuring the security and integrity of accounting data. It allows unlimited users and accounts to support growing businesses.
- Flexible Reporting: Denali Business enables the creation of custom reports, allowing businesses to analyze data in the way that best suits their requirements. It also offers a 5-year fiscal calendar for easy access to historical information.
- Scalability: The modular design of Denali Business allows businesses to add or remove functionalities as their needs change, helping them stay agile and nimble.
- Nonprofit Accounting: Denali Funds, a specialized module within the Denali Business suite, is designed to cater to the accounting needs of nonprofit organizations, including grant, donation, and event management.
- Customer Support: Denali Business is known for its unparalleled customer support, which aims to address the specific challenges faced by each business.
Overall, Denali Business is a robust and customizable accounting solution that can adapt to the evolving needs of small to midsize businesses, including nonprofits. Its emphasis on data security, flexibility, and customer support make it a viable option for organizations looking to streamline their financial management processes.
6. AccuFund Accounting Suite
AccuFund Accounting Suite is a comprehensive financial management software designed specifically for government and nonprofit organizations. It offers a range of features and functionalities that cater to the unique accounting needs of these entities. Here are some key aspects of AccuFund Accounting Suite:
- Modules and Customization: AccuFund Accounting Suite includes a strong core system and a wide range of modules that can be customized to meet the specific needs of each organization. This includes modules for general ledger, accounts payable, accounts receivable, payroll, and more
- Reporting and Dashboards: The software provides robust reporting capabilities, including dashboards that help organizations make more informed decisions. It also offers the ability to customize reports and pull in data from existing systems, reducing manual work and freeing up time for strategic planning
- Onsite and Cloud Options: AccuFund Accounting Suite offers both onsite and cloud-based options for financial management. The onsite solution utilizes the organization's existing infrastructure and houses the data on their servers, while the cloud-based option, AccuFund Anywhere Online, operates natively in a browser
- Customer Support: AccuFund is known for its exceptional customer support, which includes a dedicated team that works closely with clients to understand their needs and provide tailored solutions. This support is particularly valued by organizations that require complex financial management solutions
- Pricing: The pricing for AccuFund Accounting Suite is available on inquiry, with a starting price of $2,995.00 for the one-time setup. There is no free trial or free version available
- User Reviews: The software has received positive reviews from users across various industries, including nonprofit organizations and government entities. Users praise its ease of use, robust reporting capabilities, and excellent customer support
- Integration: AccuFund Accounting Suite integrates with other software applications, such as Zoho and Expensify, to streamline financial management processes
- Nonprofit Accounting: AccuFund Accounting Suite is specifically designed to cater to the unique accounting challenges faced by nonprofit organizations. It offers features such as automatic data pull from existing systems, customizable reports, and responsive customer support to help nonprofits manage their finances efficiently
- Government Accounting: The software is also suitable for government entities, providing features such as budgeting and financial reporting that are tailored to the specific needs of government organizations
- Security: AccuFund Accounting Suite ensures the security of financial data by providing features such as data encryption and user authentication, ensuring that financial information remains protected.
Overall, AccuFund Accounting Suite is a comprehensive financial management solution that offers a range of features and functionalities specifically designed for government and nonprofit organizations. Its customization options, robust reporting capabilities, and exceptional customer support make it a popular choice among these entities.
7. Yooz
Here is a summary of the key features and capabilities of Yooz, a cloud-based purchase-to-pay (P2P) automation solution:
- Accounts Payable Automation: Yooz helps businesses automate the entire accounts payable cycle, from invoice approvals to vendor communications. It uses AI-enabled data capture to extract, scan, and import data from documents.
- General Ledger Coding: The software automatically assigns general ledger codes to financial entries, eliminating the need for manual data entry. This helps maintain data consistency across the invoice approval process.
- Purchase Order Matching: Yooz's purchase order matching capability allows users to correlate original purchase orders with billed items, ensuring data accuracy.
- Invoice Management: The platform enables users to access, approve, and reassign invoices to stakeholders, even on mobile devices. This streamlines the invoice approval workflow.
- Cloud-based Solution: Yooz is a cloud-based software, allowing businesses to access and manage their accounts payable processes from anywhere.
- Pricing and Availability: Yooz is available with a starting price of $199 per month. It offers a free trial but no free version. The software is praised for its user-friendly interface and ease of use.
- Customer Reviews: Yooz has received positive reviews from users, with an average rating of 4.36 out of 5 stars based on 157 reviews. Customers highlight the software's efficiency, automation capabilities, and excellent customer support.
- Company Background: Yooz is a cloud-based P2P solution provider with a strong presence in the United States. The company has a large customer base and a dedicated team of employees, as evidenced by its 28,414 LinkedIn followers.
8. Tipalti
Tipalti is a cloud-based accounting software and financial technology company that specializes in accounts payable, procurement, and global payments automation. Some of the key points about Tipalti include:
- Company Background: Tipalti was founded in 2010 and is headquartered in Foster City, California. It has offices in several countries and provides services to over 4,000 customers globally.
- Product Offerings: Tipalti's main products include accounts payable automation, mass payments, and procurement solutions. The software aims to streamline financial processes and eliminate manual tasks.
- Key Features: Tipalti offers features like automated invoice processing, purchase order matching, multi-currency payments, supplier onboarding, and integration with various accounting and ERP systems.
- Growth and Funding: Tipalti has experienced significant growth, processing over $36 billion in annual transactions as of 2022. The company has raised around $550 million in funding across multiple investment rounds, with a current valuation of $8.3 billion.
- Customer Reviews and Ratings: Tipalti has received positive reviews from customers, who praise the software's efficiency, automation capabilities, and user-friendly interface. The company has an average rating of 4.36 out of 5 stars on review platforms.
- Industry Recognition: Tipalti has been recognized as a leader in the accounts payable software market, being named a Leader in the IDC MarketScape report for SaaS and Cloud-Enabled Midmarket Accounts Payable Applications.
Overall, Tipalti appears to be a comprehensive and well-regarded accounting software solution that helps businesses streamline their accounts payable and procurement processes through automation and integration capabilities. The company's strong growth, funding, and industry recognition suggest it is a prominent player in the financial technology space.
9. DataRails
DataRails is a financial planning and analysis (FP&A) platform that helps businesses automate financial reporting and planning processes while allowing them to continue using familiar Excel spreadsheets and models. Some key points about DataRails:
- Company Background: DataRails was founded in 2015 and is headquartered in New York, USA, with additional offices in Israel. The company has raised over $100 million in funding across Series A and B rounds.
- Product Offerings: DataRails' main product is its FP&A platform, which integrates with various accounting software, ERPs, and CRMs to consolidate data and automate repetitive financial tasks. It allows users to work within the Excel environment while benefiting from automation and AI-powered features.
- Key Features: The platform offers capabilities like automated data consolidation, financial reporting, budgeting, forecasting, and scenario modeling. It also provides data visualization tools and a conversational AI assistant to help finance teams quickly answer strategic questions.
- Customer Reviews and Ratings: DataRails has received positive reviews from customers, with an average rating of 4.76 out of 5 stars based on 66 reviews. Users praise the software's ability to streamline financial processes and enable more time for data analysis.
- Industry Recognition: DataRails has been recognized for its innovative solutions, winning awards such as the "Most Promising Startup Award" in the B2B and Cybersecurity category from The Information in 2022. The company has also been ranked as one of the "Best Places to Work" in New York City.
- Recent Developments: In 2022, DataRails created the first-ever Excel NFTs, tokenizing Excel files to raise funds for a charitable cause. The company also announced layoffs of 18% of its staff in late 2022 due to market conditions.
Overall, DataRails appears to be a well-regarded FP&A platform that helps businesses streamline their financial reporting and planning processes by leveraging the familiarity of Excel while providing automation and AI-powered capabilities. The company's strong funding, industry recognition, and positive customer reviews suggest it is a prominent player in the financial technology space.
10. Budgyt
- Product Overview: Budgyt is described as a "dynamic platform that simplifies financial planning without sacrificing the details." It is designed to empower team-based budgeting, agile forecasting, and granular reporting.
- Key Features: The platform offers features like multi-P&L budgeting, collaborative budgeting, scenario planning, and real-time reporting. It is built to provide speed, precision, and flexibility for finance teams.
- Pricing and Availability: Budgyt is a paid software solution, but the exact pricing details are not provided in the search results. It is available as a cloud-based platform.
- Customer Reviews: Based on reviews on G2, Budgyt has received positive feedback, with an average rating of 4.8 out of 5 stars from 25 reviews. Users praise the software's ease of use, collaborative features, and ability to streamline financial planning processes.
- Company Background: Budgyt is a relatively new company, as evidenced by its 194 LinkedIn followers. The search results do not provide detailed information about the company's founding, leadership, or funding.
11. Wave
- Company Background:
- Wave is a financial services and software company headquartered in Toronto, Canada.
- It was founded in 2009 by Kirk Simpson and James Lochrie.
- Wave provides a suite of financial management tools for small businesses, including accounting, invoicing, payments, and payroll.
- Accounting Software Features:
- Wave Accounting is a free, double-entry accounting software designed for businesses with 1-9 employees.
- It offers features like bank reconciliation, invoicing, expense tracking, customizable chart of accounts, and financial reporting.
- The software integrates with other tools like Shoeboxed for expense management and Etsy for e-commerce.
- Pricing and Availability:
- Wave's core accounting software is free to use, with revenue generated from its paid financial services like payments and payroll.
- Wave Payments charges a percentage-based fee for credit card and bank payment processing.
- Wave Payroll is available for a monthly base fee plus per-employee/contractor charges, but only in certain U.S. states.
- Limitations and Drawbacks:
- Wave's accounting software lacks some advanced features and automation compared to competitors like Xero.
- It has limitations in handling taxes, especially in countries where prices are required to be quoted inclusive of taxes.
- The receipt scanning feature requires a paid subscription, unlike some other accounting apps that offer this for free.
- User Reviews and Ratings:
- Wave has received generally positive reviews, with an average rating of 4.41 out of 5 stars from 1,579 reviews on Software Advice.
- Users praise the software's ease of use, invoicing capabilities, and integration with financial services.
12. TrulySmall Accounting
- Overview:
- TrulySmall Accounting is a cloud-based accounting software designed for small businesses.
- It is described as a "true double-entry accounting software" that automates bookkeeping tasks to save time.
- Key Features:
- Automated data entry and elimination of manual entries through integrations and rules-based automation.
- Accounts receivable and payable management, including invoicing and bill payment.
- Financial reporting and dashboard to track key metrics.
- Journal entry creation through adjustments and transfers.
- Ability to attach receipts and other documents to transactions.
- Pricing and Availability:
- TrulySmall Accounting has a starting price of $8.99 per month.
- It is a cloud-based software accessible through web browsers.
- User Reviews and Ratings:
- TrulySmall Accounting has received positive reviews, with an average rating of 4.41 out of 5 stars on Software Advice.
- Users praise the software's ease of use, time-saving features, and ability to streamline accounting processes.
- Accounting Capabilities:
- TrulySmall Accounting is described as a "true double-entry accounting software," providing full flexibility in creating journal entries through adjustments and transfers.
- It aims to simplify bookkeeping tasks and provide efficient financial management for small businesses.
13. QuickBooks Online
- Overview:
- QuickBooks Online is a cloud-based accounting software solution offered by Intuit, a leading financial technology company.
- It is designed to help small businesses manage their finances, including invoicing, expense tracking, financial reporting, and more.
- Key Features:
- Automated data entry and bank reconciliation to save time on bookkeeping tasks.
- Customizable invoicing and billing capabilities to streamline accounts receivable.
- Comprehensive financial reporting and dashboards to provide real-time insights.
- Integrations with various business tools and apps to enhance functionality.
- Mobile accessibility through the QuickBooks Online mobile app.
- Pricing and Availability:
- QuickBooks Online offers several subscription plans, including Simple Start, Essentials, Plus, and Advanced, with varying features and pricing.
- The pricing starts at $25 per month for the Simple Start plan, with discounts available for multi-year subscriptions or multiple company accounts.
- QuickBooks Online is available in multiple countries, with country-specific pricing and features.
- User Reviews and Ratings:
- QuickBooks Online has received generally positive reviews from users, with an average rating of 4.5 out of 5 stars based on over 4,500 customer reviews.
- Users praise the software's ease of use, comprehensive features, and ability to streamline financial management for small businesses.
- Implementation and Support:
- QuickBooks Online offers various resources to help users get started, including guided setup, video tutorials, and access to live support.
- The platform also provides the option to work with a certified bookkeeper or accountant for a more hands-on setup and ongoing support.
14. Zoho Books
- Overview:
- Zoho Books is a cloud-based accounting software designed for small and medium-sized businesses.
- It offers a comprehensive suite of features to manage various financial aspects of a business, including invoicing, expense tracking, bank reconciliation, and financial reporting.
- Key Features:
- Automated data entry and bank reconciliation to streamline bookkeeping tasks.
- Customizable invoicing and billing capabilities to improve accounts receivable management.
- Robust financial reporting and dashboards to provide real-time insights into the business's financial health.
- Integrations with other Zoho business applications and third-party tools to enhance functionality.
- Collaborative features that allow multiple users, including accountants, to access and work on the same data.
- Pricing and Availability:
- Zoho Books offers several pricing plans, including a free plan for businesses with annual revenue under 25 lakhs, as well as paid plans with additional features and higher transaction limits.
- The paid plans start at ₹150 per month (billed annually) for the "Standard" plan.
- Zoho Books is available as a cloud-based solution, accessible through web browsers and mobile apps.
- User Reviews and Ratings:
- Zoho Books has received generally positive reviews from users, with an average rating of 4.7 out of 5 stars on the Google Play Store.
- Users praise the software's ease of use, comprehensive features, and seamless integration with other Zoho products.
- Compliance and Security:
- Zoho Books ensures data security through measures like two-factor authentication, SSL encryption, and regular backups.
- The software also helps businesses comply with tax regulations, including GST filing and 1099 reporting.
15. FreshBooks
FreshBooks is a cloud-based accounting software operated by 2ndSite Inc., primarily tailored for small and medium-sized businesses. It offers a range of features such as invoicing, accounts payable, expense tracking, time tracking, retainers, fixed asset depreciation, purchase orders, payroll integrations, mileage tracking, double-entry accounting, and industry-standard business and management reporting. The software stores all financial data in the cloud on a unified ledger, allowing users to access the same set of books from anywhere. FreshBooks also supports multiple tax rates and currencies, and it offers a free API for customers and third-party software vendors to integrate external applications. The company was founded in 2003 and is based in Toronto, Canada.
16. TallyPrime
TallyPrime is a business management software developed by Tally Solutions, tailored for small and medium-sized businesses in India. It offers features like accounting, financial reporting, cash flow management, inventory management, and payroll processing. TallyPrime aims to streamline operations, manage finances efficiently, and boost productivity for businesses. The software provides intuitive dashboards, seamless WhatsApp integration, and effortless Excel import. TallyPrime also supports multiple companies, multi-currency transactions, order processing, and cost centers to simplify business operations. It offers a 30-day free trial for users to experience the full range of features before making a purchase. TallyPrime is known for its user-friendly interface, customizable reports, and real-time support to ensure smooth business management.
17. HostBooks
HostBooks is a cloud-based accounting software solution that offers various plans like Grand, Supreme, and Ultimate, catering to different business needs. It provides features such as accounting, GST, TDS, income tax, payroll, e-invoicing, e-way bill, point of sale (POS), business intelligence (BI), and more. HostBooks aims to automate repetitive accounting processes, making it easier for businesses to manage their finances efficiently. The software offers a free trial period for users to experience its features before committing to a subscription. Additionally, HostBooks provides mobile and desktop applications for convenient access to accounting data.
18. Vyapar
Vyapar accounting software is a cloud-based solution designed to help small and medium-sized enterprises (SMEs) manage their day-to-day business activities efficiently. It offers features like billing, accounting, inventory management, online sales management, and more. Vyapar accounting software enables users to create professional invoices quickly, manage multiple modes of payment, generate barcodes for inventory items, and track expenses to ensure they stay within budget. Additionally, the software provides tools for order management, quotation generation, customer management, vendor management, and online store management. Vyapar accounting software aims to streamline financial processes and enhance business operations for SMEs, making it a valuable tool for managing various aspects of business finances effectively.
19. Tally.ERP 9
Tally.ERP 9 is a popular financial accounting and inventory management software developed by Tally Solutions. It is widely used in India by small and medium-sized businesses to manage their day-to-day operations efficiently. Tally.ERP 9 offers features like accounting, finance management, inventory handling, sales, purchase, manufacturing, job costing, payroll, branch management, and compliance capabilities for Excise, GST, TDS, and TCS. The software uses a double-entry accounting method to ensure accuracy and eliminate errors in financial transactions. Tally.ERP 9 is known for its user-friendly interface, robust features, and flexibility, making it a comprehensive business management solution for various industries.
20. Trade Plus
TradePlus is a comprehensive back-office development solution for stock brokers, known for its user-friendly and innovative features. It offers end-to-end services to facilitate stock trading activities efficiently. TradePlus provides tools for monitoring foreign exchange and precious metal commodity markets 24/7, ensuring traders have real-time insights into market trends. Additionally, TradePlus offers a smart brokerage free trading app that allows for unlimited derivative trades across various segments, making it ideal for professional traders. The platform aims to simplify the trading process and enhance the overall trading experience for investors and traders.
