6 Best Accounting Apps for Your Small Business
When you want to find an accounting app, you’re likely to look to the big players such as Intuit or QuickBooks. But there are a lot of Cloud based web applications out there that can be a great asset to you and your team.
We’ve put together a list of six accounting apps that offer different features at affordable prices. Check them out and let us know which one is your favorite or if you use one that didn’t make our list.
$36/monthThis accounting app was built by entrepreneurs who wanted to spend less time on accounting and more time on their business. The app turned into a viable product and is beloved by entrepreneurs who dread accounting. It is a Cloud based web app that also works on the iPhone. LessAccounting does all the tasks of bookkeeping, including entering revenue and expenses, directly through a link from your bank or PayPal. It also sends invoices, tracks mileage, and calculates foreign exchange rates.
$9.95/monthFormerly known as Outright Plus, GoDaddy Online Bookkeeping is a convenient, simple Cloud based accounting app that links with your bank accounts and downloads transactions every night. The user codes recurring transactions so they are categorized correctly into expense accounts. The app offers profit and loss graphs to show you where your money is coming and going. It also offers a handy feature to pre-fill worksheets to help you fill out your Schedule C tax form. Users can sign up and start using Outright for free, then unlock the full version of Outright Plus for $9.95 a month to gain access to all of the features.
FreeWave is a free Cloud based app that’s made for freelancers, consultants, and other businesses that have fewer than 10 employees. As with other apps, it eliminates manual entry by linking to your accounts. It creates balance sheets and sales reports and also offers modules for payroll, invoicing, and payments. Its selling feature is there are no tiers, meaning it’s free with no strings attached. Wave earns its revenue with advertisements so customers never pay for the service.
$19.95/monthFreshBooks is one of the few accounting apps that can say it offers complete mobile access, offering alternatives for the iPad, iPhone, Android devices, etc. This mobility is FreshBooks’ selling point, as it allows users to log billable hours wherever they are. It also offers multiple payment options from your clients, boasting 12 payment gateways including credit cards. It’s slick timesheet feature allows the user to enter billable hours, non-billable hours, and categorize by project.
$20 per month/$192 per yearKashoo boasts it is the No.1 iPad accounting app in the app store. Kashoo’s Cloud based app offers invoicing, multicurrency functionality, and communication features so users can collaborate right from the app. You can enter your own expenses or link it to your bank account. There is also a feature to scan in receipts to attach to each expense item.
$5-$10/monthMonchilla is a simple program that offers pro forma reports based on if-then analyses. Users enter a scenario like “If I increased advertising expense by 10 percent, what would happen to my profit margin?” The system predicts your revenue and each expense item that would be affected. Monchilla bases its forecasts on aggregated recurring transactions from banks. The app also offers invoicing and payroll direct deposit. It does not link to your bank accounts, however, but does link to your QuickBooks account.
The best accounting app will achieve your particular goal. Each app above does something a little different that makes it stand out from the others. If you’re looking for the ultimate mobility solution, FreshBooks is your best bet while Kashoo is great for in-app collaboration. Whichever you choose, all offer a pay-as-you go option, so the risk is minimal.