17 Best Accounting Software For Accurate Financial Management In 2024
10 Best Accounting Software Shortlist
Here's my pick of the 10 best software from the 18 tools reviewed.
Our one-on-one guidance will help you find the perfect fit.
If you're managing your business's finances with a collection of spreadsheets... watch out for sharks.
That's right, sharks.
Y'know, the slick-haired, silver-tongued tech bros who walk into—then walk all over—operators with archaic financial systems, charging an arm and a leg to "modernize your business". The business sharks.
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You don't need to be aggressively sold to, though; you can find accounting software that helps you keep more accurate, timely records, scale your operations, and stay compliant—without paying for shark repellent.
To help you do this, I've gathered and reviewed the best accounting software available on the market right now, explaining why I've chosen each one, what they excel at, and who they're best for. Shall we?
What is Accounting Software?
First off, let's be clear about the exact type of software I'm talking about.
Accounting software is primarily used to:
- Generate reports that streamline and automate financial processes
- Give you the ability to check in on how your business is doing in real-time
- Keep a clean general ledger (& audit trail)
- Help manage your accounts payable and receivable functions
- Expedite the end-of-year tax filing process
Why Trust Our Accounting Software Reviews
You shouldn't trust everything you read online—after all, I remember seeing the headline that Beyoncé died from an earring injury a number of years back...
Which is why I came with receipts.
My team and I have been testing and reviewing accounting software since 2023, on a mission to make it easier to manage business finances. As financial operators ourselves, we know how critical (and difficult) it is to make the right decision when selecting software.
We invest in deep research to help our audience make better software purchasing decisions. We’ve tested more than 2,000 tools for different finance use cases and written over 1,000 comprehensive software reviews. Learn how we stay transparent & our accounting software review methodology.
Best Accounting Software Comparison Chart
In case you’re morally opposed to scrolling further and don’t find my dry wit “plucky and interesting”, here’s a shortcut: a quick overview of the tools I’ve covered, how much they cost, and links to go check them out for yourself.
If you really do love me (or just want to read a deeper analysis on each of these tools), keep on going.
| Tools | Price | |
|---|---|---|
| QuickBooks Online | From $15/user/month | Website |
| FreshBooks | From $19/per/month | Website |
| BlackLine | Pricing Upon Request | Website |
| Multiview ERP | Pricing upon request | Website |
| Xledger | Pricing upon request | Website |
| Nimble Property | From $250/month | Website |
| SAP ERP | From $3,200/user for a perpetual license | Website |
| Odoo ERP | From $24.90/user/month (billed annually). | Website |
| Serenic Navigator | Pricing upon request | Website |
| Certinia | Pricing upon request | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareHow to Choose Accounting Software
There's a reason the sharks do what they do—selecting software is overwhelming. You want the best system, at the best price, complete with all the features you need (and a few you don't need, but really do like).
To help keep your head screwed on straight while you look at the options, keep the following factors top-of-mind:
The Problem You're Solving
Begin by pinpointing the specific financial and operational challenges you aim to address, as your business stands right now. Once that's clear, make a list of the most likely features you'll need if your business grows the way you intend.
Who's Going To Use the Software
Is it just for you? A small team of executives? A whole dang accounting department?
To accurately assess costs and requirements, figure out who's going to be using the software and how many licenses will be needed. It's a good idea to determine whether you want to prioritize ease of use for less financially-savvy users, or advanced features for a subset of power users.
Which Tools Need To Get Along
Evaluate which tools you currently use, that the accounting software will need to integrate with—such as ERP systems, CRM tools, or HR software. Decide what existing tools will remain and which ones can be replaced by the new accounting solution.
Your Ideal Outcomes
Finally, be clear on what the software needs to deliver to be deemed successful.
This could be specific capabilities you want to gain or processes you want to improve—plus, determine metrics you'll use to measure success. For example, an important outcome might be shortening the time it takes to close your books at the end of the year, so you'd use "number of days to prepare EOY financials" as your guiding metric.
10 Best Accounting Software Reviews
Ah, yes, the pièce de résistance.
Here’s an overview of the top 10 tools my team and I chose, complete with information about each solution’s features, pricing, integrations, customer support, usability, and overall value. Plus, some pros and cons to help you compare each.
Quickbooks is an accounting software platform for smaller businesses across nearly every industry. This platform supports most core bookkeeping and accounting functions, while users can purchase other functions, such as payroll, as add-ons.
Why I Picked Quickbooks: Quickbooks continues to be the most widely used accounting software among small business owners. It’s easy to set up and use—you can probably do it without professional implementation, although they can help you if you need it.
Plus, Quickbooks has several plans. You can start small and upgrade to higher plans as your budget and needs grow. You can even hire a remote bookkeeper through Quickbooks if you need one.
Quickbooks Standout Features and Integrations
Standout features include accountant access, bank reconciliations, income and expense tracking, inventory tracking, invoicing, financial reporting, and live bookkeeping services.
Several core Quickbooks functions can be customized to suit different industries, although Quickbooks itself does not offer industry-specific features.
I really like that QuickBooks has been specifically designed so that you don’t need any accounting experience whatsoever to be able to use it.
Integrations are available with over 750 business applications, from internal systems to eCommerce websites. These include Amazon Business, eBay, Etsy, Gusto, MailChimp, Method:CRM, PayPal, RewardBuilder, Shopify, and Square.
Pros and cons
Pros:
- Automated bank reconciliation features
- Easy to learn and use
- Offers both cloud-based and desktop solutions
Cons:
- Pricier than industry peers
- Must upgrade to add users
FreshBooks is a cloud-based accounting software platform for freelancers and small service-based businesses. It supports several features service businesses need (proposals, estimates, time tracking) and sells some functions as add-ons.
Why I Picked FreshBooks: FreshBooks is a top choice for small service businesses, like freelancers or digital marketing agencies, thanks to its billing and invoicing emphasis. Not to mention its affordability and other features like client management and time tracking.
FreshBooks’s bookkeeping side is easy enough to learn on your own—perfect for small service businesses that may not have an accountant.
FreshBooks Standout Features and Integrations
Standout features that help service businesses handle their accounting include custom invoicing, mileage tracking, a mobile app, payment management, project management, and time-tracking.
I like that it also helps service businesses craft proposals, send estimates, and manage clients.
Integrations include a massive number of business applications through the FreshBooks app store. Some of the top integrations include Calendly, HubSpot CRM, GSuite, MailChimp, Shopify, Slack, Squarespace, Toggl, WooCommerce, and ZenDesk. You can connect a paid Zapier account to access even more integrations.
Pros and cons
Pros:
- Several features for managing projects and clients
- Easy to learn
- High degree of invoice customization
Cons:
- No inventory management
- Limited mobile app
BlackLine is a cloud-based accounting and financial automation platform streamlining the entire financial close process. This platform can automate accounts receivable and financial closing and supports intercompany accounting management.
Why I Picked BlackLine: BlackLine is not a comprehensive piece of accounting software—it aims to streamline and modernize the financial close, one of accounting’s largest tasks.
As such, BlackLine can complement your general ledger accounting software and take a lot of weight off your accounting and finance teams. I think that’s definitely a worthwhile feature for companies that are already using SAP because BlackLine’s SAP integration unlocks BlackLine’s prized Smart Close feature.
BlackLine Standout Features and Integrations
Standout features include everything involved in financial closing, especially the Smart Close feature you unlock when you integrate BlackLine and SAP.
I like how Smart Close standardizes the closing process by eliminating many manual tasks usually involved in financial closing. It can also automate the accounts receivable process and help larger organizations with intercompany financial management.
Integrations include Acumatica, Intacct, Epicor, Microsoft Dynamics, Oracle, PeopleSoft, Quickbooks, Sage, SAP, and Workday. Integrating with SAP unlocks BlackLine’s Smart Close feature.
BlackLine can integrate with several other accounting and ERP systems as well.
Pros and cons
Pros:
- Offers several intercompany accounting management features
- Automates most of the accounts receivable process
- Accelerates and improves the financial close process
Cons:
- Very little accounts payable automation
- Only handles accounting and finance tasks
Multiview ERP is a financial ERP system offering several core business modules beyond accounting. You can implement Multiview ERP as a cloud-based or on-premises solution. Multiview primarily services healthcare companies, but industries such as financial services and utilities may benefit.
Why I Picked Multiview ERP: Multiview’s shining feature is its View360 Source data warehouse. It lets you see data from other systems that support the accounting information in your general ledger without having to visit those systems or export and import.
Speaking of that, it has plenty of non-accounting modules, such as business intelligence, inventory management, and automations.
Multiview ERP Standout Features and Integrations
Standout features that set Multiview ERP include asset management, document, and project management, inventory and materials management, POs, and tax management.
Its ViewSource 360 multi-source data warehouse notably lets you view data from across your business systems to find the “why” behind the information in the general ledger.
Integrations include Ancora Software, Avalara, Azalea EHR, Cerner, EasyVoice, EpicCare EMR, John Daniel Associates, MDI Solutions, Paylocity, and Salesforce.
Pros and cons
Pros:
- Data visibility via ViewSource 360
- Customizable and scalable
Cons:
- Moderate learning curve
Xledger provides a robust cloud-based solution primarily designed for businesses looking to streamline their financial management processes. This platform is tailored for organizations that require powerful automation, real-time data access, and scalability to adapt to growing and changing business needs. As a vendor, Xledger caters to a variety of sectors including nonprofits, professional services, and finance sectors.
Why I Picked Xledger: As accounting software, Xledger excels in delivering extensive automation for financial operations, reducing the need for manual entry and minimizing errors. It supports complex financial management requirements with features like multi-entity consolidation, real-time reporting, and advanced budgeting tools. The software is particularly noted for its strong compliance features and the ability to handle various currencies and tax regulations, making it suitable for global businesses.
Xledger Standout Features and Integrations
Features include real-time reporting, automation of core financial processes, scalable cloud architecture, integrated project management, advanced budgeting and forecasting, multi-currency and multi-entity support, robust security protocols, comprehensive audit trails, and intuitive dashboards for financial analytics.
Xledger natively integrates with several other tools and platforms to provide a seamless workflow experience. These integrations include Microsoft Excel, Salesforce, Power BI, Bank APIs for automated banking transactions, HR systems, procurement software, project management tools, customer relationship management (CRM) systems, electronic payment processing platforms, and tax compliance software.
Pros and cons
Pros:
- High degree of automation for financial processes
- Comprehensive multi-entity and multi-currency support
- Real-time financial reporting and analytics
Cons:
- Potentially high cost for smaller businesses
- Slight learning curve for new users
Nimble Property is a cloud-based accounting platform for hospitality companies. Its accounting and business intelligence features help hotel owners, accounting departments, and management agencies track and manage multiple properties.
Why I Picked Nimble Property: Nimble Property isn’t just “good for hotels”—it’s made for hotels. The pricing and features place Nimble Property out of range for a tiny bed and breakfast, but it suits larger chains with plenty of rooms and employees.
Nimble Property Standout Features and Integrations
Standout features specific to hoteliers include a door lock system, hospitality-specific financial statements and reports, industry research, and room inventory management.
In my opinion, one of its main advantages is the multi-property management feature—you can do all this across multiple hotels. You can also purchase assisted bookkeeping through Nimble Property.
Integrations include many payroll and property management systems, although it doesn’t list them.
Pros and cons
Pros:
- Automated reconciliations
- Over 60 custom reports available
- Several hospitality-specific features, such as a door lock system
- Android and iOS mobile apps
Cons:
- No free trial
- Not suitable for small boutique hotels
SAP is a popular ERP solution offering software for numerous business functions, from accounting to spend management to CRM. As one of the first ERPs, it primarily serves companies in the consumer packaged goods (CPG) space but can also help firms outside this industry.
Why I Picked SAP: As an ERP, SAP has plenty of modules besides accounting. What I liked most about SAP is its financial planning and analysis suite with multiple modules that assist with performance management, financial forecasting, and even scenario simulation.
SAP Standout Features and Integrations
Standout features include continuous accounting, financial closing automation and templates, group reporting, intercompany management and processing, purchasing/inventory control, and real estate management. Plus, business intelligence and reporting features
Integrations include thousands of prebuilt integrations, APIs, and connectors to integrate with nearly any software.
Pros and cons
Pros:
- Faster implementation than other complex solutions
- Large number of integrations
- Covers most business functions
Cons:
- Expensive
- Dated UI
Odoo is an open-source ERP solution with a freemium plan and modules for nearly every business function. Since it is open-source, you can edit the code to customize the software.
Why I Picked Odoo: Odoo’s Freemium plan helps it stand out from competitors, although you only get one app.
The other reason I picked Odoo is its open-source nature. If you or a teammate can code, you can adjust the software to suit your needs.
Odoo Standout Features and Integrations
Standout features include AI-powered document management, automatic reconciliations, customer self-service portals, custom invoicing, international accounting compliance, multi-currency billings, and numerous reports.
I like Odoo’s custom modules for HR, inventory management, marketing, productivity, project management, sales, and website management. Each of those has several apps for specific functions.
Integrations include Amazon, Bill.com, FedEx, Google Workspace, HubSpot, OnSip, PayPal, Shopify, Stripe, and WhatsApp. Odoo AI also integrates with ChatGPT, giving you ChatGPT’s capabilities in Odoo’s UI. You can use this for tasks requiring text or copy, such as writing product descriptions or emails.
You can link any Odoo app with other Odoo apps. You can also connect a paid Zapier account to unlock more integrations. Finally, Odoo’s EDI connection can help transfer document data from other software.
Pros and cons
Pros:
- Open-source
- Modules and apps for nearly every business function
- Freemium plan
Cons:
- Freemium plan can be harder to maintain
- Freemium plan is limited
Serenic Navigator is an accounting platform for public service organizations, such as nonprofits, nongovernmental organizations, K-12 school districts, and governments. It is currently part of SylogistMission ERP after its acquisition by Sylogist.
Why I Picked Serenic Navigator: Most software solutions on this list cover for-profit companies, not nonprofits or the public sector. Serenic Navigator fills that niche. It covers general accounting/finance functions as well as public-sector needs, such as grants and awards.
Serenic Navigator Standout Features and Integrations
Standout features that make Serenic Navigator great for nonprofits include its grant and award management suite. This includes automation to help public service organizations stay compliant while maximizing their chances of winning awards and saving time.
Plus, Serenic Navigator also includes automation, budget management, HR, and payroll features. I like its reporting and analytics tools, too.
Integrations include Greenshades, Microsoft Dynamics 365, Paymerang, and TntWare Donorhub. Serenic Navigator also integrates with Sylogist’s other apps.
Pros and cons
Pros:
- Available as a cloud-based and on-premise solution
- Strong reporting features
- Can be customized to your type of public service organization
- Grant/award management suite
Cons:
- Lack of pricing transparency
- Can be confusing to implement and learn
Certinia, previously called FinancialForce, is a cloud-based ERP solution designed to fit the needs of both small businesses and larger enterprises. It supports several core business functions through accounting-related ERP modules and professional services automation.
Why I Picked Certinia: Certinia’s great for several types of businesses with subscription or recurring revenue models, especially software.
Two features that make this clear are customizable subscription/usage billing and the customer success cloud. These can help you manage how your subscription offers work (vs. one-off offers) and helps your customers get the most out of your software.
Certinia Standout Features and Integrations
Standout features include billing and subscription management and a customer success cloud. The former lets you customize product and plan billing structures for more accurate accounting and billing. The latter helps enhance customer satisfaction.
Certinia also includes inventory and procurement features, multi-company accounting, financial planning and analysis, real-time financial reporting, and service CPQ (configure, price, quote) features.
I especially like the CFO Dashboard; it’s easy to customize and gives you an overview of all your major metrics.
Integrations include ADP, Avalara, B2B Gateway, Conga, DocuSign, Expensify, Jira, Plaid, SAP Concur, and Scribe. Developers can also create more integrations with Certinia’s APIs.
Pros and cons
Pros:
- No setup fee
- A large number of critical automations
- Customer success cloud
- Customer success cloud
- Subscription and billing management for recurring revenue streams
Cons:
- Lack of transparent pricing
- No free trial
Other Accounting Software Options
Here are a few more worthwhile options that didn’t make the best accounting software list:
Related Financial Software
If you still haven't found what you're looking for here, check out these tools closely related to accounting software, that we've tested and evaluated.
- ERP Software
- POS Systems
- Billing Software
- Forecasting Software
- Merchant Account Services
- Expense Report Software
Selection Criteria for Accounting Software
When choosing accounting software, there's nothing more important than system functionality. How well does it actually complete the jobs it claims to perform... and how easy does it make your life in the process?
My team and I have personally tried and researched these tools to ensure they meet the highest standards for the finance function. Here's how we evaluate each accounting software option:
Core Accounting Software Functionality - 25% of total weighting score
Common features for accounting software typically include general ledger, accounts payable and receivable, bank reconciliation, expense management, financial reporting, payroll processing, budgeting and forecasting, tax management, multi-currency support, and integration capabilities.
To be considered for inclusion on my list of the best accounting software, the solution had to support the ability to fulfill common use cases.
- Managing financial transactions
- Generating standard financial reports
- Handling payroll and tax calculations
- Tracking expenses and budgets
- Integrating with other business systems
Additional Standout Features - 25% of total weighting score
- Advanced financial planning and analysis (FP&A) capabilities
- Comprehensive project management integration
- Robust security features for data protection
- Enhanced automation for routine tasks
- Customizable reporting and dashboards
Usability - 10% of total weighting score
- Intuitive interface design
- Easy navigation with clear menu structures
- Minimal clicks to perform key functions
- User-friendly dashboards
- Mobile accessibility for on-the-go management
Onboarding - 10% of total weighting score
- Availability of training videos and tutorials
- Interactive product tours for new users
- Templates to streamline initial setup
- Chatbots for real-time assistance
- Webinars for in-depth training sessions
Customer Support - 10% of total weighting score
- Availability of 24/7 customer support
- Multiple support channels (phone, email, chat)
- Comprehensive knowledge base
- Quick response times
- Personalized support options
Value For Money - 10% of total weighting score
- Competitive pricing models
- Transparent pricing structure
- Feature-to-price ratio
- Flexible payment options
- Discounts for long-term commitments
Customer Reviews - 10% of total weighting score
- Positive feedback on reliability and performance
- High ratings for customer satisfaction
- Testimonials on ease of use
- Reviews highlighting effective customer support
- Recommendations based on real-world use cases
Trends in Accounting Software in 2024
As with pretty much any other online tool, 2024 has seen accounting software evolve rapidly with the advent of easily adopted AI.
Reviewing recent product updates, press releases, and release logs from leading tools reveals several key trends, such as:
- The features and functionalities that are most in demand,
- Those that are emerging as novel, and
- The ones that are becoming less important.
Here's what stood out most:
Intelligent Automation and AI Integration
AI-Powered Analytics and Insights: Accounting software is increasingly integrating AI to provide predictive analytics and actionable insights, enabling businesses to make data-driven decisions with greater accuracy.
Automated Financial Processes: Automation of routine financial tasks, such as invoicing and reconciliation, is becoming standard, reducing manual workload and minimizing errors.
Enhanced User Experience
Intuitive User Interfaces: Recent updates focus on improving user interfaces to be more intuitive and user-friendly, enhancing overall productivity and user satisfaction.
Mobile Accessibility: There is a growing emphasis on mobile-friendly accounting solutions, allowing financial professionals to manage tasks on the go with seamless synchronization.
Advanced Security Measures
Robust Data Security: Accounting software is adopting advanced security protocols, including encryption and multi-factor authentication, to protect sensitive financial data from cyber threats.
Compliance Management: Enhanced features for regulatory compliance ensure businesses can easily adhere to industry standards and legal requirements.
Expanded Integration Capabilities
Seamless Third-Party Integrations: Modern accounting software emphasizes seamless integration with other business tools and platforms, streamlining workflows and ensuring data consistency across systems.
APIs and Customization Options: The availability of APIs and customizable modules allows businesses to tailor accounting systems to their specific needs, improving flexibility and functionality.
Sustainability and Environmental Impact
Green Accounting Initiatives: Sustainability features, such as carbon footprint tracking and resource optimization, are being integrated into accounting software to support environmentally conscious business practices.
Energy Management Modules: Tools for monitoring and managing energy consumption within enterprises are becoming more prevalent, reflecting a growing focus on sustainability.
Features Aging Out
Standalone Tax Management: As integration with broader financial systems improves, standalone tax management features are diminishing, pushing businesses to adopt more integrated solutions.
Basic Financial Reporting: Okay, not quite aging out... but changing. Basic financial reporting remains essential, but there is a growing emphasis on advanced analytics and visualization tools that offer deeper insights and greater value.
Features of Accounting Software
Modern accounting software often includes a range of features, such as general ledger management, invoicing, budgeting, payroll management, and reporting tools—but not all features are created equal.
Here are the most important features to look for:
- General Ledger - A central repository for all financial transactions, helping maintain organized and accurate financial records.
- Accounts Payable and Receivable - Tracks money owed to and by the business, ensuring timely payments and collections to maintain healthy cash flow.
- Bank Reconciliation - Compares internal records with bank statements, identifying discrepancies to prevent errors and fraud.
- Expense Management - Tracks and categorizes expenses, helping control costs and ensure accurate recording for financial oversight.
- Financial Reporting - Generates essential financial statements, providing insights into financial performance for informed decision-making.
- Payroll Processing - Calculates and processes employee salaries, ensuring timely and accurate payments and compliance with tax regulations.
- Budgeting and Forecasting - Helps create and monitor budgets and forecasts, aiding in financial planning and resource allocation.
- Tax Management - Assists with calculating and filing taxes, ensuring compliance with tax laws and reducing the risk of penalties.
- Multi-Currency Support - Handles transactions in multiple currencies, facilitating international business operations and accurate financial reporting.
- Integration Capabilities - Seamlessly connects with other business systems, ensuring smooth data flow and enhancing overall efficiency.
Benefits of Accounting Software
Accounting software can do a lot, but it shouldn't be looked at to do everything.
Here are the 5 main benefits you should be focused on, when evaluating your options:
- Enhanced Accuracy - Accounting software reduces the risk of human errors by automating data entry and calculations, ensuring financial records are precise and reliable.
- Time Efficiency- Automating routine financial tasks such as invoicing, payroll, and reconciliation saves significant time, allowing financial professionals to focus on strategic activities.
- Real-Time Financial Insights - With real-time reporting and dashboards, accounting software provides immediate visibility into financial performance, enabling timely and informed decision-making.
- Improved Compliance - Built-in compliance features help businesses adhere to tax regulations and industry standards, reducing the risk of fines and legal issues.
- Better Cash Flow Management - Accounting software offers tools for tracking receivables and payables, helping businesses manage their cash flow more effectively and maintain financial stability.
By leveraging these benefits, you can improve your financial management processes, enhance operational efficiency, and make more strategic decisions.
Costs & Pricing for Accounting Software
| Plan Type | Average Price (/user/month) | Common Features | Best For |
|---|---|---|---|
| Free | $0 (duh) | - Basic invoicing - Expense tracking - Limited reporting | Freelancers, sole proprietors |
| Basic | $10-20 | - General ledger - Accounts payable and receivable - Bank reconciliation - Basic financial reports | Small businesses |
| Standard | $30-50 | - Payroll processing - Budgeting and forecasting - Multi-currency support | Growing small to mid-sized businesses |
| Premium | $60-100 | - Advanced reporting - Integrations with CRM and ERP systems - Enhanced security features | Mid-sized to larger businesses |
| Enterprise | Custom pricing | - Dedicated support - Advanced customization - Comprehensive compliance management - Large-scale transaction processing | Large enterprises, businesses with complex needs |
Of course, these are just generalized ranges to give you a bit of an idea about what you'll be paying for, and getting, with each type of software.
If you're seeing a few options that could work for you, I recommend reaching out to the vendor directly to get the details.
Frequently Asked Questions
Here are answers to a few FAQs about accounting software:
What are the benefits of using accounting software?
What is the difference between desktop accounting software and online accounting software?
Which software is easiest to use?
What's Next?
No accounting platform is “the best” for everyone. That depends on many things, like your industry, company size, vendors and suppliers, products and services, and more.
So compare each carefully and grab a free demo or a free trial if you can. Your accounting and finance team might be able to help you pick one, too. They’re the ones who will use it, after all.
In the meantime, subscribe to our email newsletter for the latest accounting and finance resources and insights.