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Why is it important to reconcile your bank statements?

In this article, we will discuss why it is essential for you to reconcile your bank statements.
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The 7 Best Accounting and Bookkeeping Software for Businesses

Accounting and bookkeeping are among the most tedious but critical business operations. Companies usually employ accountants and bookkeepers to keep their workflows streamlined and track records of payable and/or receivable transactions. This facilitates businesses with an accurate estimation of profitability and helps them prepare for tax returns.

Now, due to the advancements in technology, businesses do not necessarily need to employ an army of accountants and bookkeepers to keep their operations going. There are hundreds of accounting and bookkeeping solutions out there that not only minimize the time incurred on accounting and bookkeeping operations but also facilitate businesses to minimize human error and maximize the utilization of available resource capacity.

Nevertheless, choosing a solution best suited for your needs isn’t easy as there are countless alternatives - offering more or less similar features. Some of them even resort to fake promises and false marketing to boost their subscriptions.

In this article, we will recommend the 7 best accounting and bookkeeping software for businesses. For this, we have conducted thorough research on the features, prices, pros & cons, customer reviews, and value-added benefits of the alternatives to help you shortlist an accounting and bookkeeping solution best suited for your business needs.

1. ZarMoney


ZarMoney is a renowned accounting and bookkeeping solution preferred by small to large-sized businesses worldwide. It’s an easy-to-use and scalable software that comes with a variety of features and capabilities to keep your accounting and bookkeeping workflows streamlined without you having to rely on an excessive workforce. This is the reason why ZarMoney is currently sitting at the top of our recommendation list.

1. Feature List

In this section, we will highlight some of the key features and capabilities associated with ZarMoney. Check out the core features offered by this accounting and bookkeeping solution:

  • Accounting & bookkeeping
  • Payable and receivable transactions
  • Bank reconciliation
  • Expense tracking
  • Billing 
  • Automated taxation
  • Online payments
  • Funds transfer
  • Related transactions
  • Chart of accounts
  • Bank connections
  • Bank deposits
  • Bulk data import
  • Journal entries
  • General ledger
  • Income & balance sheet
  • Profit and loss statement
  • Alerts and reminders
  • Reporting and analytics
  • And more

2. Top 3 Features

ZarMoney comes with a wide range of features and capabilities for its users. Here are the 3 top features that make ZarMoney a top accounting and bookkeeping software.

A. Accounting & Bookkeeping

ZarMoney is a one-stop solution that facilitates businesses with seamless accounting and bookkeeping operations. The tool enables users to manage their sales and purchase processes effortlessly and keep records of transactions without having to spend excessive time on entry or worry about errors in the process.

B. Accounts Reconciliation

ZarMoney facilitates its users with one-click account reconciliation - enabling them to authenticate and verify all the transactions without having to spend excessive time. The tool automates the reconciliation process so you can focus on other things and processes that matter the most.

C. Automated Taxation

The process of calculating and filing taxes is tedious and time-consuming. ZarMoney facilitates businesses to set their taxation process on autopilot - enabling users can calculate and file taxes automatically and hassle-free. You can also override this feature and execute the process manually if you prefer.

3. Pros and Cons

Pros

  • Free trial
  • Easy to use
  • Easy to learn
  • Scalable
  • Simple user interface
  • Multi-location support
  • Multi-currency support
  • Multi-login
  • 9600+ bank connections
  • Custom tax policies
  • Access permissions
  • External integrations

Cons

  • No free plan
  • U.S. and Canada bank connections only

4. Pricing

ZarMoney offers a variety of price plans - making it the best-suited solution for small to large size businesses and a scalable accounting & bookkeeping software. Here are the plans offered along with their price: 

  • Entrepreneur Plan: This plan costs $15 a month and offers standard features that ZarMoney has to offer.
  • Small Business Plan: This plan costs $20 a month, supports 2 multi-logins, allows unlimited transactions, and comes with standard features.
  • Enterprise Plan: This plan is best suited for large businesses and starts from $350 per month - supports 30+ users, offers custom features and specialized training along with dedicated support. 

5. Integrations

ZarMoney comes with a variety of external integration options to facilitate other operations of your business. Here are some of the important integrations facilitated by ZarMoney:

  • Zapier
  • AutoEntry
  • Authorize.Net
  • Gusto
  • Mailchimp
  • Shopify
  • Stripe
  • And more

6. Average Rating from Software Directories

To compile a list of worthy accounting and bookkeeping solutions, we also explored product listing of shortlisted recommendations on leading tech forums. This was to calculate the average rating representing recommended solutions on renowned software directory sites such as Capterra, GetApp, and G2. According to our calculation, the average rating of ZarMoney on aforesaid forums is 4.73.

7. Testimonials or Reviews

In this section, we will explore the positive and negative experiences of users who have had first-hand experience with ZarMoney. For this, we will go through the testimonials or reviews posted by ZarMoney users on GetApp.

First, let’s check a review posted by Time G.

“I switched from other software to Zar due to the full functions it offered. Some things that it has that others don't. Just to name one. Generate PO for product purchase plus all the packing and receiving that goes with it.”

Now, let’s explore a con in the tool mentioned by Faina P.

“There are some basic things that are missing but the team quickly made the changes to update the software as per my request and I was very impressed with the speed and overall customer support.”

8. Customer Support Options

ZarMoney facilitates its users with three customer support options - email, chat and call. Users can easily reach out to ZarMoney’s help desk via email or get their queries resolved by chatting with customer support representatives through 24/7 live support. Users are also provided with on-call support for urgent issues and concerns.

9. Product Screenshots

10. Bottom Line

With a variety of features offered and an average rating of 4.73 on leading tech forums, ZarMoney stands tall at the number 1 spot on our recommendation list. The tool is web-based, feature-rich, easy-to-use, simple to learn, scalable, and affordable - making it a worthy choice to be considered by small to large size businesses.

 

2. Quickbooks Online


Quickbooks Online stands tall on the second spot of our best accounting and bookkeeping software list. It’s a one-stop accounting platform - preferred by companies worldwide. Quickbooks Online is one of the market leaders due to the wide range of features and capabilities that come with it. Furthermore, the tool offers a variety of integration options for external apps - facilitating workflows other than accounting and bookkeeping.

1. Feature List

Quickbooks Online offers a lot of features to its users. Here are some of the core perks associated with the solution:

  • Accounting & bookkeeping
  • Payable & receivable transactions
  • ACH payment processing
  • Account reconciliation
  • Invoicing and billing
  • Expense tracking
  • Forecasting or budgeting
  • Bank deposits
  • Online payments
  • Tax calculation
  • Chart of accounts
  • Reporting and analytics
  • And more

2. Top 3 Features

Quickbooks online is a multi-purpose accounting solution. Here are the top 3 features from a variety of capabilities that this software has to offer.

A. ACH Payments

ACH payments are also known as Automated Clearing House payments that correspond to an online electronic payment platform - responsible for moving transaction amounts between banks. Quickbooks Online facilitates its users with the ability to process ACH payments without any hassle.

B. Chart of Accounts

Chart of accounts makes information understandable - facilitating users with glimpse accounting operations at their fingertips. This saves time otherwise spent on analyzing comprehensive data and compiling reports to make informed decisions. With Quickbooks Online, you don’t need to hire expert accountants or consultants to set up charts of accounts for you.

C. Expense Tracking

Quickbooks Online facilitates its users with an expense tracking feature. This allows companies to track and record their expenses and automatically adjust the amounts in invoices. This saves businesses from a lot of number crunching and menial work - facilitating them with an accurate picture of their profitability. The tool also facilitates users with mileage tracking capability - using GPS technology to calculate the distance covered and record an expense accordingly.

3. Pros and Cons

Pros

  • Offers a free trial
  • Easy to use
  • Easy to navigate
  • Scalable 
  • No steep learning curve
  • Multiple user support
  • Multi-currency support
  • Supports external integrations

Cons

  • Expensive compared to other alternatives
  • Not suitable for small businesses or startups
  • Poor customer support

4. Pricing

Quickbooks Online offers four different price plans to its users - Simple Start, Essential, Plus, and Advanced. 

  • Simple Start Plan: This plan costs $25 per month and offers basic accounting and bookkeeping capabilities.
  • Essential Plan: This plan costs $50 per month, offers multi-user support, and facilitates users with standard features.
  • Plus Plan: This plan costs $80 per month, offers multi-login capability, supports up to 5 users, and comes with standard accounting and bookkeeping features.
  • Advanced Plan: This plan costs $180 per month, comes with multi-login capability, and offers all advanced features of Quickbooks Online.

5. Integrations

Quickbooks Online supports a lot of third-party applications to support additional workflows of businesses. Here are a few renowned ones:

  • Zapier
  • AR Collect
  • Invoice Sherpa 2.0
  • PayPal
  • Squarespace
  • PayTraQer
  • Mailchimp
  • Freshdesk
  • Gusto
  • Eventbrite
  • TaxDome
  • And more

6. Average Rating from Software Directories

To dive into the user experiences for Quickbooks Online, we explored its listings published leading tech forums such as Capterra, GetApp, and G2. This was to calculate the average rating of the solution listed on the aforesaid platforms. According to our calculation, the average rating scored by Quickbooks Online is 4.26 on the mentioned sites.

 

7. Testimonials or Reviews

In this section, we will explore the reviews submitted by Quickbooks Online users on one of the leading tech forums - GetApp. This was to know the views of users who have had first-hand experience with the tool.

Let’s start with a user review posted by Tammy C.

“For the most part I really like the software, there are just a few things that aren't as handy as the old desktop version. They periodically do different feature updates that for my portion of the accounting don't really enhance my job or make it easier.”

Now, let’s explore the other side of things with a review posted by Maurine S.

“The experience with the Customer Care employees was very frustrating. I felt they were really not interested in helping me.”

8. Customer Support Options

Quickbooks Online offers 3 support options to its users - help desk, live chat, and on-call support. You can either email your concerns to their help desk representatives or reach out to their customer support via 2/7 live chat. Quickbooks Online also entertains on-call inquiries of its users and provides urgent support on call.

9. Product Screenshots

10. Bottom Line

With an average rating of 4.26, Quickbooks Online sits at the second spot on our recommendation list. It’s a web-based accounting solution that offers handy features - facilitating users to automate menial processes like bookkeeping. With 4 different price plans to choose from, Quickbooks Online is an accounting and bookkeeping solution worth considering in 2021.

 

3. Freshbooks


At the third spot on our recommendation list of accounting and bookkeeping solutions comes Freshbooks - a leading web-based solution preferred by companies worldwide. Freshbooks is a feature-packed and flexible accounting solution that helps companies automate tedious processes like bookkeeping effortlessly. You can also track your expenses and estimate profitability without any hassle. Freshbooks enables users to set the taxation process on autopilot, reconcile statements, and more.

1. Feature List

Freshbooks offers a variety of features. In this section, we will mention a few of the important capabilities that come with the tool:

  • Accounting & bookkeeping
  • Expense tracking
  • Spending control
  • Payable & receivable transactions
  • Accounts reconciliation
  • Automatic billing
  • Financial projections
  • Tax automation
  • General ledger
  • Balance sheet
  • Chart of accounts
  • Alerts and reminders
  • Reporting and analytics
  • And more

2. Top 3 Features

In this section, we will explore the 3 of the most important features offered by Freshbooks to its users.

A. Accounting & Bookkeeping

Freshbooks facilitates businesses with seamless accounting and bookkeeping capabilities. The tool enables users to automate tedious and time-consuming processes - allowing them to utilize the resource capacity much more efficiently.

B. Spending Control

The spending control feature of Freshbooks is critically important for organizations concerned about their budget utilization or have a limited budget for spending. Freshbooks enables you to come up with a smart strategy and control the spendings of your company to acknowledge fruitful outcomes.

C. Expense Tracking

Companies can track and record their expenses automatically using Freshbooks. This enables users to accurately calculate profitability and account for all relevant transactions. The software facilitates users to track business expenses in real-time and adjust the billable amounts in invoices with ease.

3. Pros and Cons

Pros

  • Free trial
  • Easy to learn
  • User friendly
  • Multi-language support
  • Multi-platform support
  • Currency conversion
  • Device compatibility
  • Prompt customer support
  • External integrations

Cons

  • Offers fewer features compared to other alternatives
  • Slightly expensive

4. Pricing

Freshbooks facilitates its users to choose from 4 different price plans - Lite, Plus, Premium, and Custom.

  • Lite Plan: The plan costs $7.5 per month and facilitates users with very basic features.
  • Plus Plan: The plan costs $12.5 per month, offers standard features to users, and is best suited for small companies or startups.
  • Premium Plan: The plan costs $25 per month, offers advanced features, and is best suited for medium to large-sized companies.
  • Custom: This is a custom plan where the price is dictated by the quotation sent by you with your business requirements.

5. Integrations

Freshbooks comes with a variety of integration options. Here are some of the renowned third-party connections supported by the tool:

  • Zapier
  • GoogleDrive
  • Mailchimp
  • Hubspot
  • Gusto
  • Calendly
  • Zendesk
  • PayPal
  • Stripe
  • Square
  • And more

6. Average Rating from Software Directories

To calculate the average rating of Freshbooks, we explored the ratings of the tool on leading tech platforms. For this, we went through the product listings of Freshbooks published on Capterra, GetApp, and G2. And, as per our calculation, the average rating for Freshbooks on leading tech forums is 4.5.

7. Testimonials or Reviews

In this section, we will explore the reviews and testimonials published by Freshbooks users on GetApp. This is to acknowledge the up close and personal experiences of users who have used the solution.

First, let’s explore a review posted by Erica B.

“FreshBooks helps me do the essential tasks of invoices and expenses while also helping me get a big picture view of my business's financial health.”

There are some users whose experience wasn’t as pleasant as the aforesaid. Check out this review posted by Neil A.

“Not happy. Literally tried it one time and gave up on it.”

8. Customer Support Options

Freshbooks offers three support options to its users. People can reach out to them either via email, chat, or call. They offer help desk and live chat support for standard queries and concerns. The urgent issues are addressed by their customer support representatives through on-call support.

9. Product Screenshots

10. Bottom Line

With an average rating of 4.5, Freshbooks is an accounting and bookkeeping software worth recommending. It currently sits at the third spot on our recommendation list. Freshbooks is a scalable solution that offers a wide range of features and is easy-to-use software. Being a web-based accounting solution, it can be accessed from anywhere in the world through a device of your choice, all you need is an internet connection.

 

4. Xero


At the fourth spot on our recommendation list, we have Xero - an online accounting and bookkeeping software preferred by businesses around the globe. Xero is a feature-rich alternative to consider when it comes to streamlining accounting or bookkeeping workflows. It’s one of the industry leaders and facilitates users with features like accounts management, bookkeeping, expense tracking, billing management, and more.

1. Feature List

Xero has a lot of features to offer. In this section, we will mention the ones that hold utmost significance:

  • Accounting & bookkeeping
  • ACH payment processing
  • Payable & receivable transactions
  • Cost tracking
  • Expense tracking
  • Asset tracking
  • Auto billing
  • Budgeting
  • Cash management
  • Online payments
  • Bank deposits
  • Cash flow management
  • Expense tracking
  • General ledger
  • Profit and loss statements
  • Tax automation
  • And more

2. Top 3 Features

Xero comes with a variety of features, however, the below-mentioned are the ones that top the charts.

A. Cost Tracking

This feature enables users to calculate the cost associated with a process or overall operations of the business - facilitating companies to come up with accurate feasibility. Cost tracking facilitates businesses to highlight the need for further investment and ensure smart utilization of funds.

B. Expense Tracking

Expense tracking gives businesses the ability to track expenses in real-time and adjust the billable amount in invoices. This not only facilitates businesses to maximize revenue via the due receivables but also enables them to come up with an accurate estimation of the company's profitability.

C. Tax Automation

Xero facilitates its users with tax automation capabilities. This allows you to manage taxation workflows with ease. With Xero, businesses are authorized to configure custom policies and tax regulations as per the corresponding regions. The software will automatically calculate and apply taxes based on the set policies on respective transactions. The feature also automates the tedious process of calculating and filing returns.

3. Pros and Cons

Pros

  • Free trial
  • Affordable
  • Scalable
  • Real-time bank feeds
  • Multi-channel management
  • Multi-currency support
  • Multi-location support
  • External integrations
  • Device compatibility

Cons

  • Lackluster support
  • Steep learning curve

5. Pricing

Xero has three price plans to offer - Early Plan, Growing Plan, and Established Plan.

  • Early Plan: This plan is best suited for small businesses and startups. It costs $5.5 per month and facilitates its users with basic features.
  • Growing Plan: This plan is best suited for small to medium-sized businesses. It costs $16 per month and facilitates its users with standard features.
  • Established Plan: This plan is best suited for medium to large-sized businesses. It costs $31 per month and facilitates its users with all the advanced capabilities of Xero.

6. Integrations

Xero supports a variety of third-party apps and integration options. Here are some of the important app connections facilitated by the solution:

  • Zapier
  • Hubspot
  • Gusto
  • Mailchimp
  • Dropbox
  • PayPal
  • Stripe
  • Rippling
  • Square
  • GoogleDrive
  • Eventbrite
  • And more

7. Average Rating from Software Directories

To calculate the average rating of Xero on leading software directories, we visited the leading tech forums and review sites - Capterra, GetApp, and G2 for the respective product listings. According to our calculation, the average rating of Xero as per its listings on aforesaid forums is 4.3.

8. Testimonials or Reviews

Now, let’s dive into the customer experience and hear it from the users who have had first-hand experience with the tool. For this, we will explore the reviews posted by Xero users on a renowned tech review platform - GetApp.

Let’s start with a review submitted by Andrew C.

“I am very satisfied to be building my practice on Xero. They have a good product with a good company behind it. They seem to really care about their advisors and see them as key to their business model. They have a great community and great support.”

Though, not everyone has had a decent experience like Andrew. Let’s check another review posted by Andy W.

“You shouldn't be supposed to get away with charging your customers for another month if they'll want to stop your subscription.”

9. Customer Support Options

Xero facilitates its users with three support options - help desk, live chat, and on-call inquiry. Users can reach out to customer service representatives via chat or call for urgent concerns. You can also email your issues to their help desk if they’re not that urgent and can wait.

10. Product Screenshots

11. Bottom Line

With an average rating of 4.3 on leading tech platforms and review sites, Xero currently sits at the fourth spot on our recommendation list. It’s one of the globally acclaimed accounting and bookkeeping solutions preferred by small to large-sized businesses. If you’re looking for feature-rich accounting software that’s simple and easy to use then Xero is a solution worth considering.

 

5. Sage Accounting


Currently standing at the fifth spot on our recommendation list, Sage accounting is a renowned accounting and bookkeeping solution preferred by organizations around the globe. The software offers a wide range of features such as cash flow management, billing, invoice management, online payments, and real-time reporting along with the ability to automate bookkeeping processes and reduce manual data entry. Sage Accounting also supports third-party integrations for external apps to facilitate workflows other than accounting.

1. Feature List

Sage Accounting offers a wide range of features and capabilities. A few important ones are listed below:

  • Accounting & bookkeeping
  • ACH payments processing
  • Payable & receivable transactions
  • Accounts reconciliation
  • Automated billing
  • Budgeting 
  • Cashflow management
  • Cash management
  • Expense tracking
  • Fraud detection
  • Profit and loss statements
  • Tax calculation & management
  • And more

2. Top 3 Features

Among all the features that Sage has to offer, the below-mentioned are the top 3 worth listing.

A. Automated Billing

With Sage Accounting, businesses can automate their billing cycle with ease. The platform enables users to set invoicing cycles on autopilot - making billing effortless without having to rely on menial tasks or operations.

B. Fraud Detection

Sage Accounting enables users to detect fraud or other unauthorized activities concerning financial workflows. The solution gives you a detailed audit trail to ensure that no transactions or records miss your eye.

C. Tax Calculation & Management

With Sage Accounting, you can calculate and manage your taxes with ease. The tool enables users to either set the tax calculation process on autopilot or calculate them manually and file returns.

3. Pros and Cons

Pros

  • Free trial
  • Simple user interface
  • Detailed reporting
  • Audit trail
  • Personalization features
  • Alerts and notifications
  • Multi-currency support
  • Multi-company management

Cons

  • Limited price plans
  • Steep learning curve
  • Poor customer service

4. Pricing

Sage Accounting offers 2 price plans at the moment - Sage Accounting Start and Sage Accounting Plan. 

  • Sage Accounting Start: The plan costs $10 per month and facilitates users with basic features and limited capabilities.
  • Sage Accounting Plan: The plan costs $25 per month and offers standard features that Sage Accounting has to offer.

5. Integrations

Sage Accounting offers third-party app connections to facilitate other workflows of business. Here are some of the key connections supported:

  • AutoEntry
  • Stripe
  • SyftAnalytics
  • nettTracker
  • BillBjorn
  • Clarity
  • EposNow
  • 9Spokes
  • ePages
  • And more

6. Average Rating from Software Directories

In this section, we will calculate the average rating for Sage Accounting using the product listings for the solution that are published on leading tech forums and review sites like Capterra, GetApp, and G2. While we explored the aforesaid platforms, we noticed that the rating for Sage Accounting is lower compared to the alternate solutions presented in this article. This is probably due to the negative experiences acknowledged by the users which we will cover in the next section. Based on the data gathered from aforesaid sites, the average rating for Sage Accounting is 4.13.

7. Testimonials or Reviews

In this section, we will explore the reviews submitted by users who have had first-hand experience with the solution. To give you a neutral opinion, we will take one positive and one negative review submitted by users of Sage Accounting on one of the leading tech review sites - GetApp.

Let’s start with a positive review by Melanie T.

“Definitely the way for the future just love to work on this platform. All new clients advised to use Sage Business Cloud Accounting. The package can grow with the company from start-up.”

Now, let’s check a negative review posted by Johan W.

“It's just a basic accounting software.”

8. Customer Support Options

Sage Accounting offers three support options - help desk, live chat, and on-call support. Users can reach out to the customer service representatives via email where their queries are addressed by the help desk. For urgent queries, you can either contact the support via live chat or get your issues resolved via professionals on-call.

9. Product Screenshots

10. Bottom Line

Sage Accounting currently sits at the fifth spot on our recommendation list. Though the solution has a lower average rating compared to its alternatives, the tool facilitates its users with a wide range of features and is preferred by some of the leading businesses worldwide. Considering all the positives and negatives associated with this accounting and bookkeeping software, it is without a doubt worthy to be considered as a feature-rich option when seeking accounting and bookkeeping solutions.

 

6. Zoho Books


At the sixth spot on our recommendation list, we have Zoho Books - a globally preferred web-based accounting and bookkeeping solution that facilitates its users with a variety of features, external integrations, support options, and more. Due to the flexibility of its price plans, Zoho Books is a scalable solution best suited for small to large-sized businesses for automating accounting and bookkeeping workflows.

1. Feature List

Zoho Books facilitates its users with a variety of features. Here are some of the top-tier capabilities that it has to offer:

  • Accounting & bookkeeping
  • ACH payments processing
  • Payable & receivable transactions
  • Bank reconciliation
  • Invoicing & billing
  • Cash management
  • Financial analysis
  • Online payments
  • Expense tracking
  • General ledger
  • Income statement
  • Balance sheet
  • Profit and loss statements
  • Tax management
  • Reporting and analytics
  • And more

2. Top 3 Features

Zoho Books offers a wide range of features and capabilities. Here are some of the important perks associated with this accounting solution.

A. ACH Payments Processing

Zoho Books facilitates its users with automated clearing house payments support. This enables them to seamlessly move transaction amounts between banks. You don’t have to rely on additional tools or access multiple platforms to process the transactions - Zoho Books serves as a one-stop solution for businesses.

B. Payable & Receivable Transactions

Zoho Books enables its users to manage payable and receivable transactions effortlessly. The platform makes it easier for businesses to keep a track of the amount to be paid to vendors in exchange for the purchases made along with the amount to be received by customers in exchange for products or services provided. 

C. Financial Analysis

Zoho Books enables users to dive deep into the data and perform financial analysis to make informed decisions by analyzing complex data. The tool facilitates businesses to compile detailed and visually appealing dashboards - making complicated trends easy to understand for businesses and concerned stakeholders.

3. Pros and Cons

Pros

  • Offers a free plan
  • Ease-of-use
  • Easy setup
  • Affordable
  • Supports other Zoho apps
  • External integrations
  • Multi-currency support
  • Multi-location support
  • Learned customer support

Cons

  • Reporting can be a bit difficult for newbies
  • Doesn’t sync with bank accounts in real-time

4. Pricing

Zoho Books has four price plans to offer - Free Plan, Standard Plan, Professional Plan, and Premium Plan. 

  • Free Plan: A very basic plan for professionals or businesses that are just getting started. The plan doesn’t charge anything and is available for businesses with revenue less than $50K per annum.
  • Standard Plan: The plan costs $12 per month, offers standard features, supports up to 3 connections, and is best suited for small businesses.
  • Professional Plan: The plan costs $24 per month, comes with advanced features, supports up to 5 connections, and is best suited for small to medium-sized businesses.
  • Premium Plan: The plan charges $36 per month, comes with top-tier Zoho Books features, supports up to 10 connections, and is best suited for large businesses.

5. Integrations

Zoho Books comes with a variety of integration options to facilitate workflows other than accounting and bookkeeping. Here are some of the useful integrations supported by Zoho Books:

  • Authorize.Net
  • Stripe
  • PayPal
  • Worldpay
  • Braintree
  • Razorpay
  • Paytm
  • 2Checkout
  • All Zoho Apps
  • And more

6. Average Rating from Software Directories

In this section, we will calculate an average rating representing Zoho Books on leading tech forums and review sites. For this, we visited leading tech communities like Capterra, GetApp, and G2 to review the product listings. According to our analysis, the average rating of Zoho Books is 4.46 as per the product listings on aforesaid platforms.

7. Testimonials or Reviews

In this section, we will dive into the customer reviews and testimonials published for Zoho Books by its users on one of the leading review sites - GetApp. To keep things balanced, we will incorporate one positive and one negative review in our article to show you a complete picture.

First, let’s start with a positive review published by Reinier D. 

“Very easy to work and easy to understand. We like teaching our clients how to use Zoho and this makes submitting expenses and project.”

Now, let’s explore the other side of things with a review posted by Pe D.

“Using Zoho has been difficult at best. At its worst, it’s impossible.”

 

8. Customer Support Options

Zoho Books has three customer support options - email help desk, live chat, and on-call support. Users of Zoho Books can reach out to the customer support representatives for their queries and concerns via any of the mediums aforesaid.

 

9. Product Screenshots

10. Bottom Line

Zoho Books is one of the reputable accounting and bookkeeping solutions. With an average ranking of 4.46, the software currently holds the sixth spot on our recommendation list. With a variety of price plans it offers, Zoho Books is a scalable accounting solution best suited for not only businesses but also independent professionals or freelancers. 

7. Patriot Accounting


On the seventh and final spot of our recommendation list, we have Patriot Accounting, a feature-rich accounting solution that is worthy to be considered by businesses. Patriot accounting is a web-based solution that helps businesses automate tedious and time-consuming processes like accounting and bookkeeping. The software offers a wide range of features and capabilities to facilitate the accounting and bookkeeping workflows of small to medium-sized businesses.

 

1. Feature List

Patriot Accounting facilitates its users with a variety of features - enabling them to set their accounting and bookkeeping workflows on autopilot. The important ones of them are mentioned below:

  • Accounting and bookkeeping
  • Accounts reconciliation
  • Auto billing
  • Budgeting
  • Cash management
  • Expense tracking
  • Financial reporting
  • Online payments
  • Invoice processing
  • General ledger
  • Profit and loss statements
  • Tax management
  • Alerts and notifications
  • Reporting and analytics
  • And more

2. Top 3 Features

Here are the 3 most important features offered by Wave Accounting that may come in handy to non-profit organizations.

A. Accounts Reconciliation

Comparing the financial records of your business with the recorded transactions facilitated by the bank can be a time-consuming task. However, it holds utmost significance for running businesses smoothly as it enables you to detect unusual transactions, frauds, and accounting errors. Patriot Accounting enables users to check, verify, and reconcile bank statements with ease. The tool facilitates you with an automated accounts reconciliation feature - allowing you to check that figures or transaction amounts are in agreement and accurately recorded.

B. Expense Tracking

This feature of Patriot Accounting facilitates users to track expenses without any hassle. It comes in handy when preparing invoices as the tool automatically incorporates billable expenses without you having to do it manually. Further, the feature gives you an accurate representation of your revenue as no expenses go unnoticed.

C. Cash Management

Patriot Accounting also comes in handy for managing cash flows. The tool enables users to keep a record of collections without them having to record the transactions manually. This saves a lot of effort and menial work otherwise incurred on managing the cash transactions for businesses.

3. Pros and Cons

Pros

  • Free trial
  • Easy to setup
  • Simple user interface
  • Alerts and notifications
  • Reporting and analytics
  • Good customer support

Cons

  • No multi-currency support
  • Fewer features compared to alternatives
  • Doesn’t support third-party integrations
  • Limited price plans

4. Pricing

Patriot Accounting offers fewer price plans compared to other alternatives in the industry. The tool facilitates its users with two price plans only - Basic Accounting Plan and Premium Accounting Plan.

Basic Accounting Plan: The plan costs around  $15.00 per month and comes with the standard features of the tool.

Premium Accounting Plan: The plan costs around  $25.00 per month and comes with all the advanced features that Patriot Accounting has to offer.

 

5. Integrations

External integrations are important when opting for an accounting solution. These integrations enable users to connect their accounting software with other apps or services - efficiently monitoring and managing multiple operations without having to switch screens or access other platforms such as to send or receive payments, import bank transactions in the database, initiate payroll, and more. The official website of Patriot Accounting along with other research sources and review sites doesn’t display any information regarding the software supporting third-party app connections.

6. Average Rating from Software Directories

We calculated the average rating of Patriot Accounting based on the product listings published on leading tech forums and review sites such as Capterra, GetApp, and G2. The average rating is the representation of the product listings on aforesaid review platforms where customers share their stories and experiences of the solution. Despite having fewer capabilities compared to its alternatives, we noticed something strange here. The average rating of Patriot Accounting was higher when we compared it against the contenders in our list of recommendations. The possible reason for this can be that the users who actually rated the tool were fewer compared to the ones who rated competing alternatives as well. As per the product listings published on Capterra, GetApp, and G2, the average rating for Patriot Accounting software is 4.8.

7. Testimonials or Reviews

In this section, we dive into the user experience and explore the review and testimonials of users who have used Patriot Accounting solution. For the reviews, we referred to one of the leading tech forums - GetApp.

First, let’s check a review posted by Brittany N.

“My overall experience with Patriot Accounting is remarkable since it has eradicated accounting errors.”

Now, let’s check another review submitted by Timothy R.

“I had to stop using it and discontinue this service.”

8. Customer Support Options

Patriot Accounting offers three customer support options. Users can either reach out to a customer support representative with their queries via email, chat, or call. This gives users the freedom to choose their preferred medium for customer support whether it’s helpdesk, live chat, or on-call support.

9. Product Screenshots

10. Bottom Line

With an average rating of 4.8 on leading tech review sites and communities, Patriot Accounting is the last solution on our recommendation list. Despite it having a huge rating, some factors are affecting its ranking on our list - top of the list are fewer features compared to alternatives and the inability to support third-party apps. Overall, Patriot Accounting is a decent software worth considering for small to medium-sized businesses seeking decent accounting solutions.

Wrap Up

Accurate maintenance of accounting records and financial transactions is not just essential for the business’s sustainability but also important to fulfill the legal requirements for running a business. The bookkeeping workflows in a company not only facilitate business feasibility but also help concerned individuals and stakeholders make informed decisions having clear insights about the cash inflow and payables.

There’s no denying that accounting and bookkeeping are the most time-consuming and tedious processes, however, their implication is mandatory for managing and running a business successfully. Companies around the globe spend millions to employ an army of accountants and hire experts for consultations to keep their accounting and bookkeeping workflows streamlined. 

Thanks to technology, you don’t need to spare heavy investments to keep your accounting and bookkeeping workflows streamlined. There’s a lot of desktop and web-based solutions that facilitate the accounting and bookkeeping workflows of businesses - providing them with a variety of capabilities. However, choosing a solution best suited for your needs isn’t easy as there are countless alternatives with more or less similar features.

In this article, we will recommend the 7 best accounting and bookkeeping software for businesses. Our recommendations will help you shortlist the potential solutions and facilitate the selection of a platform that best fits your business requirements and needs. We have compiled a list of best accounting and bookkeeping solutions based on the features offered by software, external integration options, price plans, user experience, ease of use, pros & cons, user reviews, and many other factors.

The way we have ranked the accounting solutions may vary from the way you see them as personal preference also plays a major role when making a buying decision. Furthermore, industry dynamics also come into play here. So, you need to consider your industry’s best practices when making the final decision. Overall, the solutions recommended in this article are worth considering if you wish to automate the accounting and bookkeeping processes in your company.

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