There are many accounting tools out there to choose from, so in 2024, you can stop stressing about accounting processes.
What are the benefits of using accounting software?
Well, accounting implies keeping track of and analyzing financial transactions. But depending on the size of the company you work for, that means very high volumes of financial data which would require a lot of time and effort. So using accounting tools would significantly reduce both the time and the amount of stress. Even more so, errors that might occur because of humans would be eliminated.
Now that we’ve established the benefits of accounting tools, it’s time to pick a platform that can provide them. But how do you choose? Well, here we are with the solution – our top 10 accounting tools for 2024.
1. NetSuite
NetSuite is a cloud accounting software that has the ability to simplify accounting processes, so you can save time and energy. This way, you don’t have to record transactions, collect taxes, or manage payables and receivables independently. Repetitive tasks such as creating journal entries and collecting data are a thing of the past. With NetSuite, you can automate them. You can access in real-time all your financial data gathered in one place from anywhere as long as you have an internet connection.
Before deciding whether you want to give NetSuite a try, you can take a tour of the product for free. For price details, you would have to contact the platform. Depending on your business needs, NetSuite can give an accurate estimate of the costs.
NetSuite’s Key Features:
- General ledger
- Cash management
- Tax management
- Payment management
- Account reconciliation
2. Sage Intacct
If you are looking for highly customizable accounting software, look no further – with Sage Intacct, you can create and customize your business profile. Sage Intacct’s goal is to help you save time and the solution for that is workflow automation with their Intelligent General Ledger (GL). What sets Sage Intacct’s GL is its flexibility, scalability, and ability to detect transaction errors in just a few minutes.
If you’re ready to explore Sage Intacct and want to see if its price aligns with your budget, you need to make a request. Completing the form takes only a minute and the wait time is a maximum of 24 hours. During the consultation, you will be presented with multiple price options, and it’s completely free.
Sage Intacct’s Key Features:
- Accounts receivable
- Accounts payable
- Intelligent General Ledger
- Multi-entity insights
- Dashboards and reporting
3. QuickBooks Online
Many QuickBooks Desktop Pro users decided to switch to QuickBooks Online for many reasons. If you choose the online version, you can be in sync from anywhere by using the mobile app they have to offer. Another thing you can benefit from is peace of mind that your data is backed up and protected. If you decide to transition to QuickBooks Online you don’t have to worry about the migration process. You will be provided with improved migration tools and 1-hour personalized support.
With QuickBooks Online you benefit from a 30-day free trial and a 50% discount for the first three months. When applying these, the prices start from $15/month and reach $100/month for the most complex subscription plan.
QuickBooks Online’s Key Features:
- Invoice
- Expense tracking
- Bill management
- Banking management
- Get a loan
4. Intuit QuickBooks
QuickBooks has an accounting tool for small businesses and start-ups – Intuit QuickBooks. With Intuit QuickBooks you can streamline workflows by automating accounting tasks, so you can focus your energy and attention on billable work. You can access all client data from anywhere so you don’t need to worry about managing work.
Intuit QuickBooks offers discounts to small businesses as well as when buying subscriptions in bundles for your clients. Without discounts, the prices start from $11.90/month for the Simple Start plan and reach $36/month for the Plus plan.
Intuit QuickBooks’ Key Features:
- Invoice and expense tracking
- GST and VAT tracking
- Inventory management
- Multi-currency support
- Receipt organization
5. Acumatica
Acumatica has a powerful project accounting software that can help you manage budgeting, inventories, and billing. Some accounting tools Acumatica provides include General Ledger, Accounts Payable, and Accounts Receivable. Using these tools ensures a streamlined accounting experience so your company can benefit from both efficiency and accuracy.
In terms of pricing, Acumatica claims to offer low prices, but to find out what it would cost you, you need to contact the sales department. The pricing review is free without any obligation. For this, you just have to submit a short form.
Acumatica’s Key Features:
- Financial management
- Inventory management
- Integrations
- Commerce connectors
- Manufacturing management
6. Xero
For small businesses, accountants and bookkeepers, Xero is a great online accounting software. You have everything in one place, so operations such as invoicing, reporting, and end-of-year tax returns go smoothly. By connecting your bank account, Xero automatically receives your transactions so you can see your cash flow in real time. Even more so, you can collaborate online with your employees so everyone is up to date with your business's financial data.
You can start using Xero for free for 30 days, after which you need to choose a priced plan to continue. There are three plans with features that differ in complexity. The least expensive plan costs $29/month, and the most expensive one $62/month. To each plan, you can add extensions for which you pay separately.
Xero’s Key Features:
- Bank reconciliation
- Bill Payment
- Project tracking
- Bank connections
- Online invoicing
7. SAP S/4HANA Cloud
SAP S/4HANA Cloud is a great accounting tool that can help you modernize your business accounting operations. Your company’s productivity and performance are enhanced by automating financial processes. In terms of tax management, you can benefit from worldwide tax automation and a reduced risk in tax compliance.
Whether you want to receive more details about SAP S/4HANA Cloud or pricing information, you can contact the platform. SAP S/4HANA Cloud offers a free product tour and a live demo for which you need to complete a form.
SAP S/4HANA Cloud’s Key Features:
- Finance
- Procurement
- Supply chain
- Manufacturing
- Product lifecycle
8. Oracle Accounting Hub Cloud
To make sure that all your data is easily accessible on one platform instead of storing it on multiple accounting systems, Oracle Accounting Hub Cloud might be just right for you. Oracle Accounting Hub Cloud uses a powerful accounting engine that can handle high volumes of transactions. This way you significantly reduce the processing time and benefit from detailed reports of your financial data.
Before getting started with Oracle Accounting Hub Cloud, you can request a demo. An Oracle expert will walk you through the platform so you can decide whether you want to continue purchasing a subscription. There is also the possibility of exploring the product on your own if that’s your preference.
Oracle Accounting Hub Cloud’s Key Features:
- Accounting data unification
- Analyzing and reporting
- Powerful accounting engine
- Automations
- Governance simplification
9. QuickBooks Desktop Pro
QuickBooks Desktop Pro is a very popular accounting tool among millions of users. By using it, you have all your financial information in one place and you can manage it without having any knowledge of accounting. QuickBooks Desktop Pro makes it easy for you to do your usual tasks without having to rely on other platforms.
We recommend QuickBooks Desktop Pro to larger enterprises as you need to commit to a yearly subscription to use it. The prices for this annual subscription start from $1,922/year, but can vary depending on your enterprise size and needs.
QuickBooks Desktop Pro’s Key Features:
- Tax deduction
- Receipt capture
- Cash flow
- Income and expenses
- Invoices and accept payments
10. Wave
If you’re a smaller business, Wave is the perfect tool for you – it was built precisely for small businesses. Freelancers, self-employed entrepreneurs, consultants, and contractors this is whom Wave seeks to help. It is a very user-friendly platform that paints the complete picture of your business health and keeps it organized. Your data is secure and backed up and can be accessed from anywhere at any time.
If you’re at the very beginning of your journey and need any basic features, Wave offers a free plan. However, to benefit from everything Wave has to offer, the Pro plan might be a better option. It costs $16/month, but if you choose to pay $170 yearly, you can save $22.
Wave’s Key Features:
- Invoicing
- Payments
- Mobile receipts
- Payroll
- Advisors
Realizing the importance of time management and efficiency, more accounting tools have come out over the years. They have also become a necessity for large enterprises to continue their activities without delays and errors. From automation tools to real-time financial data analysis, there is no reason not to use an accounting tool in 2024.
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
