Businesses always look to save money & what better than using modern tools to keep track of expenses. Today’s top accounting software is designed not only for simple bookkeeping but to manage the entire financial operations.
It is a proven way to cut down on bookkeeping costs & errors. Most accounting tasks are automated and the introduction of the cloud has opened new avenues for all.
The use of the right kind of tool helps businesses to efficiently use the resources in the accounting department. Make your business profitable by adapting to the latest technology and keep track of the flow of money.
Selecting the right kind of accounting software becomes very important to reap the real benefits. With the advent of technology, businesses also have made smart moves in accommodating the tools that best serve the business needs.
While deciding on the right kind of accounting software, companies get distracted by flashy features. But they might end up spending way more than normal. Most businesses in the USA prefer to use accounting software to manage finances & pay their taxes.
This article is having all details related to popular accounting software in the US market.
Top Accounting Software Used in the USA
Accounting tools are used by businesses to enter expenses and also track them. They are efficient in minimizing mistakes & saves time with the automation feature. Select the kind of tool that suits your business needs & also the budget! If you’re starting on your own & accounting isn’t the forte then you must need a financial tool to do all the accounting in the business.
Listed below is the most popular accounting software in the US market.
1. QuickBooks
It is the accounting software developed by Intuit and has different versions as per the industry use. QuickBooks has separate desktop options for businesses looking to install the QuickBooks inventory software on their office systems. The account can be hosted in the cloud & offers the best features available in the cloud. Some of the different versions of QuickBooks are – QuickBooks Pro, QuickBooks Premier, QuickBooks Enterprise, QuickBooks Online, & others.
Most of the versions have common features like invoice generation, income expense, maximizing tax deductions, run & export reports, balance sheets, & tracking of cash flows. The software is reducing the stress of business owners by automating bills, forecasting the cash flow, run custom reports, and connects with the clients for regular communication.
2. FreshBooks
It is a Canada-based accounting company meant for SMBs & self-employed people. It is taking care of all the basic accounting needs like billing, income & expense management, report generation, invoicing, emailing statements, and more. The 3 different versions of the software are Lite, Plus, & Premium. Businesses can select the version that suits their budget and has robust features.
Some of the features included in the software are payment reminders, recurring invoices, online payments, multi-currency & language billing, tax calculations, bank deposits, recurring payments, and tax-friendly expense categories. Select the right kind of FreshBooks cloud hosting provider to access the tool anywhere.
3. Sage
It is a popular cloud-based accounting platform helping SMBs maintain financial hygiene. It is trusted by millions in the USA and has been providing the services for the past many decades. Manage the accounting data safely and keep track of the money flow. The sage software is eliminating the financial compliances of business and helps handle the data smartly. Create & send online invoices, accept payments, connect with the banks and manage transactions flawlessly.
Sage is the cloud accounting tool that integrated with Microsoft Office 365 easily to provide suitable accounting solutions. It helps to monitor the cash flow, optimize the sales, & ensure compliance with different tax rules. Sage is providing advanced solutions and comes with a 60-day risk-free guarantee. Businesses can now maintain their receivables better & manage the financing in a protected way.
4. AccountEdge Pro
AccountEdge Pro is the desktop accounting tool preferred by businesses in the USA. It was founded in 1989 and since then it has evolved to become a product for accountants. The accounting software is getting updated regularly and now individuals can access the account with help of a cloud-based app. The interface is simple to use and all the features are available in the mobile version as on the desktop. It has a basic and Pro version offering comprehensive accounting solutions with full customizations.
Many enterprises select AccountEdge Pro as the best accounting tool for experienced professionals as it has robust accounting capabilities. It has features like direct deposit, bank feeds, inventory management, payment processing, full-service payroll, free accountant copy, and data sync with company files. Make sure you install the software on your system and manage the finances effectively.
5. Zoho Books
It was founded in India in 1996 and also has a corporate office in California. Zoho Books lets you track the finances, create invoices, collaborate with other business members, and more. The software also includes CRM (Customer Relationship Management), inventory control, HR management, and more. The accounting software needs to be selected for automation as it offers robust accounting features. It has more than 40 integrations & requires no specific knowledge to start work with it.
Features in Zoho include audit reporting, tax compliance, sales order, automatic tax collections, reconciliation of bank transactions, and more. The three different versions of the software include Basic, Standard, & Professional. Select the type of version that suits the budget and also the demand of users.
6. Xero
Xero is web-based accounting software designed for businesses of all kinds. Many of the small businesses are using it with perfection to manage their business finances. You don’t need specific accounting knowledge to handle the account & can be hosted easily on the cloud for remote access. The tool is known for its intuitive platform, easy-to-access dashboard, and smart collaboration with multiple users. The three different versions of the software are – Early, Growing, and Established.
The features of the Xero accounting tool include the creation of expense claims, automation of invoices, up-to-date reporting, fast bank reconciliation, business data protection, real-time cash position, and more. SMBs can grow faster with the help of smart accounting using Xero.
7. Odoo Accounting
Odoo Accounting is growing popular among users and it has the ability to record each transaction to ensure business growth on the right track. Get the bank statements synced with the bank account automatically. It manages expenses, controls supplier invoices, tracks the payments, and saves time in reconciliation. If you’re looking for an accounting tool with growth opportunities then it is the tool to rely on.
Final Thoughts!
SMBs need accounting software that can track their expenses and provide the correct reports on accounting. With the revolution in the tech world, organizations need to be more careful while selecting the right financial tool.
The accounting tools mentioned above are the best ones in the USA market and ensure all-around financial management. Selecting the right software is more than an IT investment as your entire business career will stake on it.
Come up with the solutions best suited for the business looking for steady growth.
Mostly the accounting tools are on the cloud and thus businesses can host the tool for remote access.
Choose the hosting provider with the right deal for the business and also has the right name in the market.
