The right accounting software can be a useful tool in streamlining accounting processes for many associations and small businesses. However, with a large volume of options available on the market, finding the right solution for your organization can be a challenge.
To help you make the right decision, we’ve compiled a list of the best accounting software for non-profits and small businesses.
1) Inuit Quickbooks
Quickbooks offers smart tools for businesses that are easy to use and customizable.
Organizations use it to manage their books, expenses, send invoices and run payroll. It’s simple enough to use for an inexperienced bookkeeper, while the tools and features provided, mean more advanced and demanding users can use its advanced accounting tools.
The software can be expensive for smaller associations and nonprofits, so it is more appropriate for organizations with a technology budget.
Pros
Cloud-based
Scalable
Third-party integrations
Excellent user interface
Enhanced dashboard
Numerous customizable reports
Supports various accounting tasks such as payroll, bookkeeping, invoicing and much more
Cons
Expensive
Payroll features cost extra
2) Xero
Xero is an excellent choice for organizations looking for very simple accounting software.
It has a clean interface that integrates with other payroll services and can be used to collect payments via its integrations with Stripe and GoCardless.
The software makes good use of artificial intelligence to automate processes, and offers advanced analytics and tools for tracking projects.
Xero has a starter pricing level, the Early plan, may be suitable for microbusiness with high-value but low frequency transactions as it has a usage limit of twenty invoices and five quotes per month.
Pros
Scalable
Cloud-based
Third-party integrations
Simple inventory management
Effective use of AI
Advanced Analytics
24/7 support
Cons
User experience not as state-of-the art as some competitors
Payroll features cost extra
Multiple currencies only in top-tier plan
3) FreshBooks
This accounting software’s primary function is invoicing, but it can also take care of an organization’s basic bookkeeping needs. It’s one of the easier accounting software to use, and is designed for small business owners who don’t have accounting experience and certification.
For organizations with fewer than five clients or a small association, the company offers a Lite plan for 15$ a month. This includes most of its features, including expense tracking, invoicing and reports.
Pros
Advanced invoicing features
Affordable
Cloud-based
User-friendly
Third-party integrations
Cons
Payroll not included (but can be purchased as an add-on)
4) Zoho Books
Zoho is one of the most comprehensive accounting software’s on the market, and is especially a great choice for small organizations and businesses already using other Zoho apps. The software automates business processes, supports bookkeeping and sends invoices.
The company has a free plan for organizations that have less than $50,000 a year in revenue – this comes with one user account and allows you to manage invoices and import bank and credit card statements.
Pros
Integrates with Zoho apps
Can manage just over 1000 contracts
Recurring invoices
Cons
Payroll not included (but can be purchased as an add-on)
Free plan is limited
5) Sage Business Cloud Accounting
This tool is a great choice for small or micro organizations that need affordable accounting software with basic features. It offers a variety of third-party integrations and basic features, such as invoice creation and automatic bank reconciliation.
Pros
Cloud-based
Third-party integrations
Supports multiple currencies
Cons
Entry-level plan may be too basic for established organizations
Payroll not included
Limited phone support hours