Larger businesses may want to consider it, too, now that integrated payroll is supported for all states. FreshBooks offers a well-rounded and intuitive double-entry accounting experience with the tools that a very small business needs. An exceptional user experience and smart blend of features make it a top choice for sole proprietors and freelancers. Akaunting is a free, open-source accounting solution for small businesses and freelancers with a global reach and sizable user base. The program’s full suite of features is available for free — making it one of the few “one-stop-shop” solutions on this list.

As I mentioned earlier, if you need to shift from one accounting application to another, your existing data will have to shift too. Some free accounting solutions make that process more convoluted and frustrating than others — bear that in mind when you pick your preferred platform.

Wave Accounting

Next, we looked at the pricing of each software to see which ones are most affordable for small businesses. Finally, we considered the ease of use and customer support for each software. We also looked at real customer reviews to ensure its marketing promises match actual customer experiences. Quickbooks even has an accounting app for small businesses that are self-employed. You may add “payment reminders” if you need accounting software that helps you keep track of payments you need to make.

A recommendation that applies to almost all small business owners. Try and choose the software for a small business that has a mobile app. From staying compliant with IRS tax regulations to making informed decisions, bookkeeping is vital in nearly every aspect of your small business growth. Using bookkeeping apps can save you a lot of time doing tedious work.

Wave app features

If you need a more robust accounting-specific solution, you might want to look elsewhere. GnuCash’s initial setup and somewhat dated-looking interface might turn a lot of potential users off. But bookkeeping if you’re willing to tough out its tricky installation and don’t need your accounting solution to be particularly pretty, you’re left with a solid application that covers a lot of bases for free.

• After you’ve supplied information about your company structure, one of your next setup tasks will be to add information about your customers and vendors.
• Various tax schemes, taxes are set for categories of goods/services, or individually for a product/service.
• But every contractor is different, so one of the other accounting apps on our list may fit your needs better.
• Still, if you can live with those restrictions there are some pluses here.

If you’re just starting out or only have a few clients, then start with a basic version of accounting software that is less expensive. You can always upgrade to a version with more features once your business grows.

How Hard Is It to Create Small Business Accounting Reports?

Instead, you can use it to easily send invoices, collect payments, and even track sales tax. The most crucial accounting need for most service-based businesses is invoicing. FreshBooks offers more customizations for invoicing compared to other accounting software. Its primary function is to send, receive, print, and pay invoices, but it can also take care of a business’ basic bookkeeping needs as well.

• QuickBooks Online is the best overall accounting software for small businesses of those reviewed.
• Don’t sign up for something that has way more functionality than you’ll ever need as costs can mount up too.
• Zoho does offer additional add-ons, more about which you can glean from its website.
• This free accounting software is a portable app, so you can save and use it straight from a USB stick without even needing to install it.
• We reviewed accounting apps on a variety of platforms, for mobile devices and desktop computers alike, so you can assess which features meet your needs as an independent contractor.
• Apply for financing, use free bookkeeping tools, send invoices, and more with a single Lendio account.
• One of the app’s more impressive features is inventory management.