As an accountant, you know the importance of having reliable and efficient accounting and payroll software. With so many options in the market, finding the best one for your business can be overwhelming. In this article, we will discuss the top accounting and payroll software that will help you manage your finances and payroll with ease.
Xero
Overview
Xero is an online accounting software that is popular among small to medium-sized businesses. It offers a range of features including invoicing, bank reconciliation, payroll, and more. One of the best things about Xero is its user-friendly interface, making it easy to navigate even for non-accountants.
Key Features
– Invoicing
– Bank Reconciliation
– Inventory Management
– Payroll
– Expense Claims
– Project Accounting
Pricing
Xero offers three pricing plans: Starter ($20/month), Standard ($30/month), and Premium ($40/month).
Quickbooks
Overview
Quickbooks is an accounting software that is widely used by small businesses and accounting professionals. It offers a range of features including invoicing, sales tracking, expense tracking, and more. One of the best things about Quickbooks is its ability to integrate with other applications, making it a complete solution for managing your finances.
Key Features
– Invoicing
– Sales Tracking
– Expense Tracking
– Inventory Management
– Payroll
– Time Tracking
Pricing
Quickbooks offers three pricing plans: Simple Start ($25/month), Essentials ($40/month), and Plus ($70/month).
Wave
Overview
Wave is a free accounting software that is ideal for small businesses. It offers a range of features including invoicing, accounting, payroll, and more. One of the best things about Wave is that it is completely free, making it an affordable option for small businesses.
Key Features
– Invoicing
– Accounting
– Payroll
– Receipts
– Payments
– Reports
Pricing
Wave is completely free to use.
Zoho Books
Overview
Zoho Books is an accounting software that is ideal for small businesses. It offers a range of features including invoicing, accounting, inventory management, and more. One of the best things about Zoho Books is its ability to integrate with other applications, making it a complete solution for managing your finances.
Key Features
– Invoicing
– Accounting
– Inventory Management
– Expense Tracking
– Time Tracking
– Project Management
Pricing
Zoho Books offers three pricing plans: Basic ($9/month), Standard ($19/month), and Professional ($29/month).
Gusto
Overview
Gusto is a payroll software that is ideal for small businesses. It offers a range of features including payroll processing, benefits administration, compliance, and more. One of the best things about Gusto is its user-friendly interface, making it easy to manage your payroll even for non-accountants.
Key Features
– Payroll Processing
– Benefits Administration
– Compliance
– Time Tracking
– Employee Self-Service
– HR Management
Pricing
Gusto offers three pricing plans: Core ($39/month), Complete ($39/month + $12/month per person), and Concierge ($149/month + $12/month per person).
FAQ
1. What is the best accounting software for small businesses?
The best accounting software for small businesses depends on your specific needs. However, Xero, Quickbooks, Wave, and Zoho Books are great options to consider.
2. Is Gusto only for payroll processing?
No, Gusto also offers benefits administration, compliance, time tracking, HR management, and more.
3. Can I integrate accounting and payroll software?
Yes, most accounting and payroll software offer integration with each other.
4. Is Wave really free?
Yes, Wave is completely free to use.
5. Can I access my accounting and payroll software online?
Yes, most accounting and payroll software are cloud-based, which means you can access them online.
6. Can I use accounting and payroll software on my mobile device?
Yes, most accounting and payroll software offer mobile apps for iOS and Android devices.
7. What is the best payroll software for small businesses?
Gusto is considered one of the best payroll software for small businesses.
8. Can I manage multiple businesses with accounting and payroll software?
Yes, most accounting and payroll software offer multi-business management.
Pros
– Efficient
– User-Friendly
– Time-Saving
– Affordable
– Reliable
– Scalable
Tips
– Determine your specific needs before choosing an accounting and payroll software
– Look for software that integrates with other applications
– Read reviews and compare pricing before purchasing
Summary
Choosing the best accounting and payroll software for your business can be a daunting task. However, with the right research and understanding of your specific needs, you can find a software that is efficient, reliable, and affordable. Xero, Quickbooks, Wave, Zoho Books, and Gusto are some of the top options to consider.