08 Dec, 2018
Accounting Software is a type of application software or program that helps accounting professionals to records and process accounting transactions. Accounting software can vary from basic single-entry programs in which each financial transaction is recorded with a single entry in a journal or transaction log to more advanced double-entry systems in which every transaction results in two equal and offsetting entries, one a debit (DR) and the other a credit (CR).
FRESHBOOKS provides simple-to-use, customizable invoicing and basic accounting tools that are well suited for businesses providing services, such as consultants, freelance workers and others who bill based on time. With FreshBooks, your business is easily accessible across all your devices.
Intuit QUICKBOOKS online is the leading accounting software for small businesses that takes care of accounting, billing and invoicing all in a single platform. It allows you to create invoices, reconcile banking and credit card transactions, track payments, bills etc. Quickbooks software has one of the easiest interfaces and it also offers the most affordable paid packages and services. One also have an option to convert to Quickbooks desktop.
ZOHO BOOKS is the most extensive basic accounting tool from the five options. Its key feature include automatic payment notifications, automatic bank feeds, inventory management, time tracking,invoice tracking, reconciliation and automated workflows.
WAVE offers 100% free, real double-entry accounting for small businesses. It is a cloud-based software which allows you to access your data from anywhere and work on all of your businesses from a single login. Wave is best for service-based businesses or new companies with limited inventory.
Xero has almost similar interface as Quickbooks Online and is perfect for QuickBooks users who are thinking of transferring to a more robust accounting solution. Xero's is available for both PC and Mac and it comes with 24/7 phone, email and live chat support at no extra cost.
All the above five accounting software are easy to use and navigate and comes with affordable pricing to choose from.
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