Best Cloud Accounting Software for Small Businesses | Geekflare (2024)

FreshBooks is designed to handle financial tasks for small businesses, especially those in service-based industries. FreshBooks simplifies invoicing, expense tracking, and time management, making it easier for business owners to stay on top of their finances.

The platform offers essential features like automated invoicing, double-entry accounting, and smooth integration with various payment processors.

FreshBooks also supports project management, allowing businesses to track time and collaborate with clients efficiently. Additionally, FreshBooks offers strong customer support and a range of scalable and affordable pricing plans to suit different business needs.

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  Create and send professional invoices quickly, with the option to set up automated reminders and recurring billing to improve cash flow.

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  Accept payments easily with various options, including credit cards, ACH transfers, and PayPal, helping you get paid faster.

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  Capture and categorize expenses effortlessly by snapping photos of receipts, forwarding email receipts, or importing from your bank.

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  Log billable hours for projects with a built-in time tracker, ensuring you don’t miss out on any revenue.

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  Collaborate with your team and clients in real time by sharing files, discussing project updates, and keeping everyone on the same page.

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  Access insightful reports that help you understand your business’s financial health, from cash flow to profitability, all in a user-friendly interface.

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  Manage payroll seamlessly within FreshBooks through integrations like Gusto, simplifying your employee payment process.

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  Track business-related mileage automatically, making it easy to categorize trips for tax deductions directly through the FreshBooks mobile app.

QuickBooks Online is a powerful accounting software designed for small businesses, freelancers, and self-employed individuals. The software automates critical tasks like invoicing, expense tracking, and payroll processing, making financial management more efficient.

QuickBooks lets users easily link bank accounts, categorize transactions, and monitor cash flow in real-time. QuickBooks also supports integration with various third-party applications, enhancing its utility across different industries.

QuickBooks provides a user-friendly experience for beginners, simplifying financial management. And experienced users can leverage its comprehensive features for detailed financial analysis. QuickBooks also offers one of the top accounting apps for smartphones.

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  Manage vendor bills effectively. Track payments, schedule payments, and apply credits for efficient bill handling.

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  Get access to tax resources and connect with qualified professionals to ensure accurate tax filing and maximize deductions.

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  Generate customizable reports to gain insights into your business performance. Track income, expenses, profit and loss, and other key metrics.

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  Track your miles effortlessly for business purposes with integrated mileage tracking tools.

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  Organize projects, manage tasks, collaborate with team members, and track profitability for efficient project execution.

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  Streamline your online sales process by integrating with popular e-commerce platforms.

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  Receive payments easily through various online options and automate bill payments for improved cash flow management.

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  Manage your bank accounts directly within QuickBooks for effortless reconciliation and real-time financial data.

Xero is easy to use and is favored by growing businesses that need scalable accounting solutions. Xero stands out for its real-time financial data access, allowing business owners and accountants to monitor cash flow, manage expenses, and track financial performance with up-to-date information.

The software’s comprehensive reporting capabilities make it easy to generate detailed financial statements, helping businesses make informed decisions.

In addition, Xero places a strong emphasis on security, ensuring that sensitive financial data is encrypted and stored securely in multiple locations. Its commitment to providing reliable, secure, and efficient accounting solutions has made Xero a trusted choice for businesses worldwide.

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  Access bank data from over 21,000 global institutions for easy reconciliation.

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  Track and manage expenses, submit claims, and handle reimbursem*nts efficiently.

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  Plan, budget, and track project costs with integrated job tracking tools.

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  Monitor stock levels and auto-populate invoices and orders with items.

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  Handle transactions in multiple currencies, making it ideal for global business operations.

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  Ensure your transactions are up-to-date with automatic bank reconciliation.

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  Generate accurate financial reports and collaborate with advisors in real time.

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  Automatically capture and store documents and key data with Hubdoc integration, simplifying data entry and organization.

Kashoo is designed for small business owners, freelancers, and entrepreneurs who need a simple yet effective tool to manage their finances. Kashoo calls itself “The World’s Simplest Accounting Software” as the platform doesn’t want the users to get overwhelmed.

Kashoo includes built-in tax features that help users prepare for tax season by organizing income and expenses into appropriate categories — simplifying the tax filing process.

Kashoo offers two variants: Trulysmall accounting and Kashoo. Trulysmall offers automated & easy accounting for growing small businesses, whereas Kashoo works as advanced & personalized accounting software for established businesses.

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  Manage all your accounting tasks in one place, from invoicing to expense tracking, with an intuitive interface.

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  Create and send professional invoices quickly, allowing for efficient payment processing and tracking of outstanding payments.

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  Automatically import and categorize transactions from your bank, simplifying the bookkeeping process and reducing manual data entry.

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  Capture receipts on the go using the mobile app, ensuring that all expenses are recorded accurately and promptly.

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  Generate real-time financial reports to get insights into your business’s financial health, helping you make informed decisions.

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  Manage client information and keep track of communications, making it easier to follow up on unpaid invoices and maintain client relationships.

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  Use simple project management tools to track time and expenses associated with specific projects, ensuring accurate billing.

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  Kashoo maximizes tax deductions with automated data entry, ML-powered categorization, and IRS & CRA alignment.

Zoho Books is a versatile cloud accounting solution designed for small businesses looking for seamless financial management. It offers extensive features including invoicing, expense tracking, and automated workflows.

The platform’s integration with the Zoho suite enhances its functionality, allowing users to synchronize data across various Zoho applications. Zoho Books supports multi-currency transactions and provides in-depth financial reporting to aid business decisions.

Its user-friendly interface and customizable templates make managing finances straightforward. The software also includes solid automation features like recurring billing and auto-payment reminders.

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  Automate tax calculations, manage multiple tax rates and generate tax summary reports, making tax filing easier and more accurate.

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  Connect your bank accounts for seamless reconciliation, ensuring that all bank transactions are accurately recorded and matched.

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  Track and manage inventory levels, set reorder points, and integrate with sales and purchase orders to maintain control over your stock.

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  Monitor project expenses, billable hours, and profitability by linking expenses and time tracking directly to specific projects.

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  Access plenty of customizable reports, including profit and loss, balance sheets, and cash flow statements, providing comprehensive insights into your business’s financial health.

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  Automate repetitive tasks like payment reminders, recurring invoices, and approvals, improving efficiency and reducing manual work.

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  Integrate Zoho Books with other Zoho apps and third-party applications like Stripe, PayPal, and Office 365 to streamline your business operations.

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  Ensure your data is secure with advanced encryption, role-based access, and multifactor authentication.

Wave accounting comes with a popular free forever plan tailored for small businesses and freelancers with essential features. Wave’s intuitive interface makes it easy to create and send invoices, manage receipts, and track cash flow.

The software simplifies payment collection by allowing clients to pay directly from invoices through integrated payment gateways. Wave also includes basic accounting reports and integrates with bank accounts for automatic transaction syncing.

Besides the free plan, Wave offers a Pro plan for businesses seeking more customization. This plan allows users to personalize invoices, use reusable message templates, capture receipts digitally, and more

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  Create professional invoices with custom branding and flexible payment options.

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  Accept online payments securely, send automated payment reminders, and track outstanding invoices to get paid quickly.

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  Manage your finances with ease—automate bank account imports, categorize income and expenses, and reconcile bank transactions for accurate bookkeeping.

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  Capture receipts on the go using the Wave mobile app for effortless expense tracking.

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  Run payroll in minutes with Wave. Pay your employees quickly and electronically, handle taxes effortlessly, and streamline the payroll process.

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  Leverage the expertise of Wave Advisors whenever you need help with accounting, tax, or business matters.

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  Easily categorize and track your business expenses for better financial control and informed decision-making.

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  Generate customizable financial reports to analyze your business performance. Track income, expenses, profit and loss, and other key metrics.

Odoo calls itself “a modern accounting software” and is known for its extensive suite of business applications. Odoo integrates financial management with a wide range of other business functions like CRM, inventory, and project management.

Odoo’s accounting module supports multi-currency transactions, automated reconciliation, and comprehensive financial reporting. The platform allows for customizable workflows and reports, catering to specific business needs.

Odoo features advanced automation for tasks like invoicing, expense tracking, and bank synchronization. The software’s user-friendly interface facilitates seamless navigation and integration with other Odoo modules. Additionally, Odoo has a vibrant community and extensive documentation that offers valuable support and resources.

Odoo has one of the world’s largest business app store thanks to its open-source nature. The store has 40k+ apps.

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  Maintain accurate financial records with double-entry accounting principles, ensuring data integrity and facilitating financial reporting.

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  Streamline reconciliation by automatically matching bank statements with your Odoo transactions, saving you time and effort.

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  Gain instant insights into your business performance with customizable financial reports generated in real time. Track income, expenses, profit and loss, and other key metrics for informed decision-making.

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  Manage multiple companies in a single database with separate charts of accounts and consolidation reporting.

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  Comprehensive expense management features, allowing you to capture receipts, categorize expenses, automate expense reports, and track spending trends.

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  Securely store and organize all your business documents within Odoo, including invoices, contracts, receipts, and reports, ensuring easy access and retrieval.

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  Odoo integrates with e-signature solutions like DocuSign, allowing you to securely collect electronic signatures on documents for streamlined approval processes.

Sage 50cloud is a powerful cloud-based accounting software designed for small businesses, offering comprehensive tools for managing finances and inventory. With over 40 years of experience, Sage 50cloud combines the reliability of desktop software with the flexibility of cloud connectivity.

Key features include invoicing, expense tracking, advanced inventory management, and efficient tax handling. Users can also benefit from real-time reporting, advanced budgeting tools, and seamless collaboration through cloud access.

Sage 50 Accounting is designed to handle complex financial tasks — ensuring small businesses can efficiently grow while maintaining financial control.

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  Automate data entry by capturing data from bills, receipts, and bank statements.

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  Gain insights into your cash flow with features like cash flow forecasting and projections.

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  Effortlessly reconcile your bank statements with automatic bank feeds, saving time and ensuring accuracy.

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  Simplify recurring payments by integrating with GoCardless to collect payments directly from customers’ bank accounts.

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  Track stock levels, manage product variants, and generate inventory reports.

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  Generate comprehensive reports to analyze financial performance, including income, expenses, profit and loss, and other key metrics.

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  Enjoy secure access controls that protect your financial data.

FreeAgent is designed specifically for freelancers and small businesses. It provides essential features such as invoicing, expense tracking, and financial reporting packed in a user-friendly interface.

FreeAgent simplifies tax management with built-in VAT and self-assessment tools, ensuring compliance and accurate submissions. The platform offers automatic bank feeds for easy bank reconciliations and real-time financial insights.

FreeAgent’s time-tracking and project management features help users manage client projects and billable hours effectively. The software also supports multi-currency transactions and integrates with various third-party applications. Additionally, FreeAgent is known for its straightforward setup and excellent customer support.

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  Leverage “Radar,” a built-in tool that provides personalized insights and recommendations, helping you make informed decisions based on your financial data.

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  Create and send invoices, track expenses, capture receipts, review reports, and stay organized while you’re out.

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  Enjoy peace of mind knowing your financial data is protected with FreeAgent’s high-level security protocols, including data encryption, firewalls, and access controls.

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  Save time and effort with automated features like recurring invoices, automatic bank feeds, and expense categorization, streamlining your financial processes.

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  Create and send polished estimates and invoices with ease. Customize them with your branding, track time and expenses, calculate taxes automatically, and offer a variety of payment options.

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  Connect your bank accounts with FreeAgent for automatic bank feeds, allowing for effortless reconciliation and real-time financial data.

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  Organize projects efficiently by grouping expenses, invoices, and time entries by project for a clear overview. Track project progress, collaborate with team members, and ensure accurate billing for each project.

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  FreeAgent offers tax management features like sales tax calculations and expense categorization to help you stay on top of your tax obligations.