The 8 Best Small Business Accounting Software For 2024

Top 8 Accounting Software for Small Businesses in 2024

Small business owners know the challenges of navigating financial ups and downs. But the right accounting software can help you stay on top of invoicing, expenses, payroll, and more.

Our expert reviews analyze leading options based on ease of use, functionality, affordability, and other must-have features for SMBs.

1. FreshBooks – Best for Service-Based Businesses

FreshBooks is an intuitive, cloud-based double-entry accounting system ideal for freelancers, solopreneurs, and small service providers. Key strengths include project/time tracking, customizable invoicing, mobile apps, and award-winning UX design.

FreshBooks Pros

Delightful, easy-to-use interface
Tools for project management, proposals, retainers
Integrated time tracking and mileage logging
Robust mobile apps for iOS and Android

FreshBooks Cons

Extra fees for additional team members
Limited inventory tracking capabilities
Dashboard could be more insightful

2. QuickBooks Online – Best for Customization

The industry-leading QuickBooks Online impresses with in-depth accounting tools, exceptional customizability through add-ons, and top-rated mobile access. While pricier, it’s a versatile choice for tech-savvy SMBs.

3. Wave – Best Free Option

Wave provides core accounting features at no cost, apart from a $8/month fee for receipt scanning. Its streamlined UI shines for invoicing, transaction management, and multi-currency support—ideal for micro-businesses and freelancers.

4. Zoho Books – Best Value

Part of Zoho’s software ecosystem, Zoho Books delivers impressive depth at an affordable price point. SMBs appreciate its flexibility across modules like sales/purchases, time/project tracking, and inventory management.

5. Sage 50cloud Accounting

Best for Inventory Tracking With advanced desktop software, Sage 50cloud is a powerhouse for inventory-focused businesses requiring robust data storage and customization capabilities. The steeper learning curve is offset by Sage’s ample support resources.

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6. Xero

Best for Collaboration AI-powered automation meets elegant UX in Xero. Its standout features include insightful reporting, project tracking, fixed asset management, and smooth multi-user access—great for collaborative small teams.

7. Patriot Software

Best for Beginners New and non-technical small businesses will appreciate Patriot Software’s straightforward interface, affordable pricing, and strong customer support. While light on advanced extras, its simplicity is ideal for startups.

8. TrulySmall Accounting

Best for Microbusinesses For the smallest of operations processing under 500 transactions yearly, TrulySmall strips accounting down to the basics: invoicing, bills, contacts, and expenses. The refreshingly simple UX requires zero accounting knowledge.

Ready to upgrade your small business accounting in 2024? Compare our in-depth reviews to find the perfect fit that streamlines your finances and saves you time.

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