This article gives us a detailed review of The 10 Best Cloud Accounting Software.
Accounting software programs streamline bookkeeping and other accounting processes, making it easier for businesses and freelancers to plan their taxes and keep tabs on finances.
This is a better option than employing a full-service accounting firm.
So, business owners looking to take advantage of accounting programs would be wise to choose a cloud-based accounting system.
Cloud accounting software allows you to access them from anywhere as long as you have an internet connection.
The best cloud accounting software lets you complete your tasks efficiently without being tied to your office computer.
This gives them an added advantage over traditional accounting programs, which typically require installation on your computer and can only be used on a single computer.
Today’s accounting system will allow you and other authorized users to enter transactions, reconcile accounts, send invoices, run reports, and monitor your business’s finances from your internet-enabled gadget.
The good thing is that most cloud accounting software offers mobile apps, meaning that you can access and complete most of the tasks from your smartphone.
Here is our top list of the best cloud accounting software in 2024. We will highlight some of their key features and how each of them stands out from the competition.
The Best Cloud Accounting Software
1. Xero
Xero is the best cloud accounting software for all sizes of businesses. The program comes with lots of useful features at a competitive price point.
We were particularly impressed by its customizable dashboard and reporting features. With this tool, you can hide or rearrange your panels according to your preferences.
Also, the dashboard has a straightforward interface, making it easy to glean valuable insights from your business data and track business performance.
Another thing that makes Xero stand out from the competition is the fact that it allows unlimited users for every subscription. This means that all the users can have the same level of access to the program. On top of this, Xero offers a wide range of third-party app integrations.
Pricing
- There are three paid packages, where the lowest one costs $15 and the Established plan costs $78.
2. Intuit QuickBooks Online
QuickBooks is one of the best cloud accounting software programs for small businesses. This software program has over seven million users worldwide.
The good thing is that you can access the program anywhere and from any device. It also offers a range of useful features at affordable prices.
Some of its fantastic features include add-on payroll capability, tracking features for project profitability, inventories, and work hours for your staff, invoicing and financial reporting, as well as tracking your income and expenses.
Pricing
- It offers a free trial that lasts for 30 days.
- Premium packages start at $30 per month.
3. Freshbooks
Freshbooks is one of the most straightforward cloud accounting software programs.
It offers some of the best features that are useful for self-employed professionals, freelancers, and businesses that employ contractors.
However, don’t let its simplicity deceive you.
Yes, it is intuitive and offers an exceptional user experience, but it also offers solid accounting management tools such as invoice management, income and expense tracking, financial report generation, payroll, mileage and time tracking, project and proposal management, and financial account monitoring.
Pricing
- Offer a 30-day free trial.
- Premium offers start at $17 per user per month.
4. Zoho Books
Zoho Books is one of the most famous accounting software programs, especially when it comes to integration.
This program allows you to integrate with over 40 other platforms, meaning that you can manage all aspects of your business via this program.
In short, Zoho Books will take care of most of your accounting tasks, so you can focus more on important aspects of your business.
We also believe Zoho Books is the best cloud accounting software because of its nice features, including a mobile app for both iOS and Android users, budgeting and reporting tools, track functionality for mileage, expenses, project profitability, and sales tax, the ability to create invoices in multiple languages, and a custom domain that comes with premium plans.
Pricing
- A free option is available.
- Paid packages start at $20 per organization per month.
5. Sage
Sage Accounting, or simply Sage Business Cloud Accounting, is a robust cloud accounting program for small businesses.
It offers a comprehensive list of features, meaning that it does more than what an average business needs.
But these added functionalities come at a cost. We found that it is slightly more expensive than the competition. But on the positive side, the application offers built-in online links that support remote work.
The ideal users for this accounting software are companies looking for a tool with robust inventory management capabilities.
Besides this, it is best suited for organizations that require customizability, data capacity, and advanced accounting capabilities.
Pricing
- The free trial is limited to 30 days.
- Paid options start at $10 per person per month.
6. NetSuite
NetSuite is a cloud-based ERP package that comes with accounting tools. The program allows you to streamline tax management, transform general ledgers, and automate AP.
In other words, NetSuite accounting functionality improves your financial controls by streamlining and simplifying the accounting process.
With this cloud-based accounting tool, you can automatically eliminate incidences of double data entry and access real-time financial information, providing you with more insights to improve your day-to-day operations.
Additionally, it ensures that all your transactions comply with the required accounting standards.
Another positive thing about this piece of software is that you can view all your business operations on a single platform.
You can access your manufacturing, finance, e-commerce, HR, and supply chain data from the same interface. You can integrate the software with your existing CRM systems and several third-party solutions for more streamlined business management.
Pricing
- Pricing is customized based on your needs.
7. Wave Accounting
Wave is one of the best cloud accounting software programs that is free and simple to use. Its straightforward interface makes it easier for novice users to navigate the system.
Most people love this software program because it doesn’t offer bare-bones free products as bait or some time-limited free offers.
Wave has always offered the best free package unless you need added functionality like payroll and payment management.
While it doesn’t have comprehensive mobile access, time-tracking, or inventory management capabilities, it comes with a smart selection of useful features for small businesses.
For instance, this free program allows you to add unlimited users, along with unlimited credit card and bank connections. It also offers more than basic accounting features that are suitable for small, service-based businesses.
The good thing about this app is that it supports major currencies.
Pricing
- It is entirely free to use.
8. Joiin
Joiin is also one of the best cloud accounting software programs that can streamline how you consolidate your financial data.
Specifically, it can help you create balance sheets, P&L statements, cash flow statements, and other related financial reports.
You can do all these on a single platform. The good thing is that you can customize these consolidated reports and view them on the go.
Some of its key features include budgeting, multi-currency support, business KPI reports, custom reports, and managing multiple clients at once. So, if you are looking for a solution to keep your financial record up-to-date, then this is your software.
Pricing
- It has a free 14-day trial.
- Paid options start at $19 per user per month.
9. Bonsai
This cloud-based accounting system lets you manage both your tax and accounting-related tasks. It is particularly useful for managing and tracking expenses.
It comes with tax reminders, income reporting, and expense tracking tools. The program is ideal for freelancers and small businesses looking for the best cloud accounting software for keeping tabs on their expenses and taxes.
Generally, it is feature-rich and easy to use. Some of its outstanding features include the expense tracker, invoice management, automated tax reminders, and profit and loss tracking capabilities.
Pricing
- There is a free trial offer.
- Paid packages start at $24 per month.
10. Odoo
If you are looking for open-source accounting software, then Odoo is one of the best options. The program offers customizability, comprehensive features, and a faster time to market.
There is also a huge community of developers and users whom you can turn to for support.
We included this program on this list of the best cloud accounting software because it is generally affordable, including a free plan that limits you to one app.
Some of its excellent features include billing, invoicing, and automated bank reconciliation. All these features are offered in a clear, user-friendly interface.
Additionally, you can access reports and documents such as your tax forms, chart of accounts, and audit files, among others.
So, if the open-source model appeals to your taste but does not have standby developers in your team, then you don’t have to worry.
Odoo offers a wide range of interesting training and implementation packages, depending on the size of your business.
Pricing
- There is a free plan for the use of a single app.
- Paid packages start at $38.90 per user per month.
Wrap-Up
If you are a business owner, you will need to effectively manage all your accounting tasks, irrespective of the size of your business.
For small business owners looking to grow their customer base, free or affordable cloud accounting systems can play a critical role in their success.
And, for established companies with complex accounting needs, some of the above cloud accounting software, like Netsuite and Sage, can save most of their time. The good thing is that most of the above programs offer some form of trial or free plan that you can take advantage of.
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