16 Best Financial Statement Software Reviewed in 2025
Best Financial Statement Software Shortlist
Here’s my shortlist of the best financial statement software:
Our one-on-one guidance will help you find the perfect fit.
No matter the size of your business, managing finances shouldn’t feel like a constant struggle. The right financial statement software should automate reporting, eliminate errors, and give you real-time insights. But if you’re stuck with an outdated system, you’re probably dealing with slow reports, manual mistakes, and a serious lack of clarity.
As a financial controller, I’ve tested my fair share of reporting tools over the years. And if there’s one thing I’ve learned, it’s that great financial software does more than just generate reports—it makes financial oversight effortless, integrates seamlessly, and helps you make smarter decisions with confidence.
But with so many options out there, finding the right one can feel overwhelming. That’s why I put some of the best financial statement software to the test. In this guide, I’ll break down my top picks—each designed to streamline reporting, improve accuracy, and give you better financial control. I’m confident there’s one here that’s the perfect fit for your business.
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Best Financial Statement Software Summary
To help save you time, this comparison chart summarizes pricing details for my top financial statement software selections. It provides you with the quick facts, including pricing, trial information, and more, to help you find the best one for your budget and business needs.
| Tool | Best For | Trial Info | Price | ||
|---|---|---|---|---|---|
| 1 |  LiveFlow LiveFlow connects real-time accounting data to Google Sheets for reporting. | Best for Google Sheets integration | 14-day free trial | Pricing upon request | Website |
| 2 |  Workiva Workiva simplifies reporting with real-time collaboration and automated workflows. | Best for real-time collaboration | Free demo available | Available upon request | Website |
| 3 |  Zoho Books Zoho Books automates workflows and simplifies tax compliance for businesses. | Best for automated workflows | Free trial + free plan available | From $15/month (billed annually) | Website |
| 4 |  FreshBooks FreshBooks automates invoicing and expense tracking for small business finances. | Best for small business invoicing | 30-day free trial | From $10/month (billed annually) | Website |
| 5 |  Jedox Jedox offers an Excel-like interface with AI-powered budgeting and forecasting. | Best for Excel-like interface | Free demo available | Pricing upon request | Website |
| 6 |  Prophix Prophix automates budgeting and reporting with built-in scenario analysis tools. | Best for budget automation | Free demo available | Pricing upon request | Website |
| 7 |  Planful Planful streamlines planning with real-time financial tracking and approvals. | Best for financial planning teams | Free demo available | Pricing upon request | Website |
| 8 |  Cube Cube syncs financial data from multiple sources directly into spreadsheets. | Best for multi-source data integration | Free demo available | Priciing upon request | Website |
| 9 |  Mosaic Mosaic enables team collaboration with real-time reporting and shared dashboards. | Best for team collaboration | 30-day free trial | From $9.99/user/month | Website |
| 10 |  Sage Intaact Sage Intacct provides audit trails, compliance tracking, and multi-entity support. | Best for compliance tracking | Free trial available | Pricing upon request | Website |
| 11 |  Board Board integrates business intelligence and financial planning for better insights. | Best for business intelligence integration | Free demo available | Pricing upon request | Website |
| 12 |  Phocas Phocas enhances financial visibility with interactive data visualization tools. | Best for data visualization | Free demo available | Pricing upon request | Website |
Best Financial Statement Software Review
If you’re looking for more information on each option, check out my detailed summaries of the best financial statement software. These reviews offer an in-depth look at the key features, pros & cons, integrations, and ideal use cases of each tool to help you find the best one for you.
LiveFlow is a cloud-based platform that helps businesses manage financial data and reporting. It enables teams to connect accounting systems with spreadsheets for real-time data updates.
Why I picked LiveFlow: LiveFlow lets your team pull live financial data into Google Sheets without manual exports, and create dynamic dashboards that update automatically as new data comes in. The software’s pre-built templates help you set up reports quickly while keeping them customizable, while its permission controls allow you to easily manage who can edit or view financial data.
Standout features & integrations:
Features include automated data consolidation, which helps your team combine multiple accounts into a single balance sheet. The platform’s custom formulas let you manipulate financial data directly within Google Sheets without switching between tools. Plus, its live collaboration makes it easy for multiple team members to edit and review reports in real time.
Integrations include QuickBooks, Xero, Stripe, Square, Plaid, Microsoft Excel, NetSuite, FreshBooks, Google Drive, and Shopify.
Pros and cons
Pros:
- Real-time data syncing
- Customizable dashboards
- Multi-entity consolidation
Cons:
- Limited to certain accounting platforms
- Advanced features may have a learning curve
Workiva is a cloud-based platform that helps businesses manage reporting and compliance. It lets teams organize financial and non-financial data in one place, making report preparation more efficient.
Why I picked Workiva: Workiva offers a cloud-based platform where multiple users can work on reports, financial statements, and compliance documents in real time. Its built-in version control ensures teams stay aligned without worrying about errors or outdated data. With seamless integrations and live commenting, Workiva also makes collaboration across departments easier and more efficient.
Standout features & integrations:
Features include automated report generation, letting you create standardized documents without manual formatting. Plus, the platform’s inline commenting lets you discuss changes directly within reports, keeping conversations organized.
Integrations include Workday, SAP, NetSuite, Anaplan, BlackLine, OneStream, ServiceNow, Microsoft 365, and Google Drive.
Pros and cons
Pros:
- Automated audit trails
- Customizable reports
- Cloud-based access
Cons:
- Steep learning curve for new users
- Some features require manual updates
Zoho Books is a cloud-based accounting platform that helps businesses manage invoices, expenses, and tax compliance. It provides tools to track financial transactions, generate reports, and automate recurring tasks.
Why I picked Zoho Books: Zoho Books automates key accounting processes, so your team can spend less time on repetitive tasks. It allows you to set up workflows to send payment reminders, categorize expenses, and trigger approvals without manual input. The software also includes real-time bank feeds, ensuring your finances are updated, and custom reporting tools that let you generate statements customized to your needs.
Standout features & integrations:
Features include project-based accounting, which helps your team track income and expenses for specific projects. Its custom invoice templates let you personalize billing documents to match your brand. Additionally, the software’s multi-currency support makes it easy to manage transactions in different currencies without extra calculations.
Integrations include Zoho CRM, Zoho Inventory, Zoho Payroll, PayPal, Stripe, Square, Shopify, Amazon, Google Drive, and Office 365.
Pros and cons
Pros:
- Automated workflows
- Customizable templates
- Real-time collaboration
Cons:
- Limited payroll integration options
- Steeper learning curve for advanced features
FreshBooks is a cloud-based accounting platform designed to help businesses manage invoices, expenses, and payments. It offers tools to track time, generate reports, and organize financial data in one place.
Why I picked FreshBooks: FreshBooks makes it easy to send professional invoices and get paid faster. You can customize invoices, set up recurring billing, and accept multiple payment methods. Additionally, the software’s automatic payment reminders help you manage overdue accounts without extra effort, while its expense tracking links directly to your accounts. With these tools, your team can manage finances while keeping invoicing simple.
Standout features & integrations:
Features include project tracking, which helps you monitor time and expenses for each client. The software’s automated bank reconciliation matches transactions with your records, reducing manual work. Plus, its double-entry accounting keeps your books balanced and ready for tax time.
Integrations include Gusto, Stripe, PayPal, Shopify, Squarespace, HubSpot, Trello, Asana, Zapier, and Mailchimp.
Pros and cons
Pros:
- Easy to set up and start using
- Mobile app for on-the-go invoicing
- Time tracking integrates with billing
Cons:
- Limited customization for financial reports
- Additional cost for multiple users
Jedox is a cloud-based platform that helps businesses manage budgeting, planning, and forecasting. It allows teams to organize financial data, automate reporting, and improve decision-making with real-time insights.
Why I picked Jedox: Jedox gives your team an Excel-like experience, making it easier to transition from spreadsheets to an automated planning system. You can build reports and financial models using familiar formulas and layouts. The platform also supports real-time data entry, so updates are instantly reflected in reports. Additionally, its customizable templates help you standardize financial statements while keeping them flexible.
Standout features & integrations:
Features include AI-powered forecasting, which helps your team predict financial trends using historical data. The platform’s built-in workflow automation keeps budgeting and approval processes on track, while its role-based access controls let you manage who can view or edit financial data.
Integrations include SAP, Microsoft Dynamics 365, Salesforce, Snowflake, Google BigQuery, IBM Planning Analytics, Workday, Tableau, and Qlik.
Pros and cons
Pros:
- Quick setup and installation process
- Customizable to fit specific business needs
- Efficient handling of large datasets
Cons:
- Limited documentation for advanced features
- Requires technical knowledge for customization
Prophix is a cloud-based platform that helps businesses manage budgeting, forecasting, and financial reporting. It allows teams to automate data collection, improve accuracy, and create reports with minimal manual effort.
Why I picked Prophix: Prophix automates budgeting tasks, so your team can focus on analysis instead of data entry. You can set up approval workflows to keep financial plans on track, while AI-driven insights help you identify trends and make informed decisions. The software’s scenario modeling also lets you test different budget strategies before finalizing plans. Together, these features help teams reduce overall manual work and gain better financial visibility.
Standout features & integrations:
Features include automated financial consolidation, which helps your team combine data from multiple sources without manual adjustments. Its drill-down analysis lets you explore financial details and track variances at a granular level. Plus, the platform’s report distribution automates sharing, ensuring stakeholders receive accurate updates on time.
Integrations include Microsoft Dynamics 365, SAP, Workday, NetSuite, QuickBooks, Salesforce, Snowflake, Anaplan, and Sage Intacct.
Pros and cons
Pros:
- Integrates data from multiple ERPs
- Automates report distribution to users
- Consolidates subsidiaries across different currencies
Cons:
- Dashboard editing lacks advanced formatting features
- Slow processing with large datasets
Planful is a cloud-based platform that helps businesses manage budgeting, forecasting, and reporting. It allows teams to automate financial processes, improve accuracy, and analyze data in real time.
Why I picked Planful: Planful gives your team a structured approach to planning, so you can align budgets and forecasts without juggling spreadsheets. Financial teams can create rolling forecasts that update dynamically as new data comes in, and the platform’s scenario modeling helps you test different financial strategies before making decisions. Plus, its built-in workflow management keeps your team organized and ensures approvals happen on time.
Standout features & integrations:
Features include automated variance analysis, which helps your team compare actuals to forecasts without manual calculations. Its dynamic dashboards also give you a real-time view of financial performance. Additionally, the software’s built-in audit trails track every change, making it easy to maintain compliance.
Integrations include NetSuite, Workday, Microsoft Dynamics 365, SAP, Sage Intacct, QuickBooks, Salesforce, Anaplan, and ADP.
Pros and cons
Pros:
- Quick setup and installation process
- Customizable to fit specific business needs
- Efficient handling of large datasets
Cons:
- Limited documentation for advanced features
- Requires technical knowledge for customization
Cube is a cloud-based platform that helps businesses manage financial planning, reporting, and analysis. It allows teams to connect data from multiple sources, automate workflows, and generate real-time insights.
Why I picked Cube: Cube makes it easy to pull in financial data from different systems, so your team doesn’t have to rely on manual data entry. Financial professionals can easily map and sync data across spreadsheets and dashboards without breaking formulas. The software also supports real-time updates, so reports always reflect the latest numbers, while built-in workflow automation helps you speed up approvals and financial close processes.
Standout features & integrations:
Features include drill-through functionality, which lets your team trace financial data back to its source for better accuracy. Its custom reporting templates help you standardize financial statements while keeping them flexible. Plus, Cube’s scenario analysis allows you to test different financial outcomes before making key decisions.
Integrations include NetSuite, QuickBooks, Sage Intacct, Microsoft Dynamics 365, Workday, SAP, Salesforce, Google Sheets, and Snowflake.
Pros and cons
Pros:
- Quick implementation process
- Flexibility in reporting and modeling
- Reduces manual data consolidation
Cons:
- Limited advanced data manipulation capabilities
- Requires time to navigate and learn functionality
Mosaic is a cloud-based platform that helps businesses manage financial planning, reporting, and forecasting. It enables teams to work with real-time data, automate workflows, and create visual financial models.
Why I picked Mosaic: Mosaic makes it easy for your team to collaborate on financial planning in one shared workspace. You can set up dynamic reports that update automatically, so everyone is working with the latest data. Plus, custom access controls let you manage who can edit or view specific financial information. Together, these features allow your team can stay aligned and make informed decisions faster.
Standout features & integrations:
Features include real-time budget vs. actual tracking, giving your team instant visibility into financial performance. Its custom dashboards let you organize key metrics and visualize trends without manual updates. Additionally, the software’s automated data consolidation pulls in numbers from multiple sources, reducing errors and saving time.
Integrations include NetSuite, QuickBooks, Xero, Salesforce, Workday, Stripe, ADP, Google Sheets, Snowflake, and HubSpot.
Pros and cons
Pros:
- Efficient financial reporting and forecasting
- Automated data consolidation
- Real-time variance analysis
Cons:
- Limited mobile application features
- Dependent on the accuracy of integrated data sources
Sage Intacct is a cloud-based platform that helps businesses manage accounting, reporting, and financial processes. It allows teams to automate workflows, track transactions, and maintain accurate records.
Why I picked Sage Intacct: Sage Intacct includes built-in compliance tracking tools, so your team can stay audit-ready without extra work. Its automated approval workflows help enforce financial management controls and reduce errors, and the software’s role-based permissions ensure only authorized users access sensitive data. Sage Intacct also includes audit trails that log every transaction change for better accountability.
Standout features & integrations:
Features include real-time financial dashboards, giving your team instant access to key metrics and reports. Its multi-entity management allows you to track finances across different locations or subsidiaries without manual consolidation. Additionally, its automated bank reconciliations help reduce errors and keep your records accurate.
Integrations include Salesforce, ADP, Avalara, Expensify, Bill.com, Stripe, PayPal, Microsoft 365, Google Drive, and Shopify.
Pros and cons
Pros:
- Scalable for growing businesses
- Strong compliance tracking features
- Real-time financial reporting
Cons:
- Implementation can be complex
- Limited out-of-the-box integrations
Other Financial Statement Software
Here are some additional financial statement software options that didn’t make it onto my shortlist, but are still worth checking out:
- Board
For business intelligence integration
- Phocas
For data visualization
- DataRails
For Excel data consolidation
- Adaptive Insights
For workforce planning integration
- QuickBooks
For small business accounting
- NetSuite Cloud Accounting
For cloud-based ERP integration
Financial Statement Software Selection Criteria
When choosing the best financial statement software for this list, I focused on what really matters to users—things like accurate data and meeting compliance standards. To make sure my evaluation was both fair and well-structured, I followed this simple framework:
Core Functionality (25% of total score)
To be considered for inclusion in this list, each solution had to fulfill these common use cases:
- Generate financial statements
- Track income and expenses for financial health
- Automate report generation and cash flow statements
- Ensure data accuracy for profitability
- Support compliance with regulations
Additional Standout Features (25% of total score)
To help further narrow down the competition, I also looked for unique features, such as:
- Real-time data analytics for business performance insights
- Customizable dashboards and income statements
- Advanced forecasting tools for data analysis
- Multi-currency support to reduce human error
- Integration with other financial analysis tools
Usability (10% of total score)
To get a sense of the usability of each system, I considered the following:
- Intuitive interface design
- Ease of navigation
- Minimal learning curve
- Availability of user guides
- Customization options
Onboarding (10% of total score)
To evaluate the onboarding experience for each platform, I considered the following:
- Availability of training videos
- Interactive product tours
- Access to webinars
- Use of onboarding templates
- Supportive chatbots
Customer Support (10% of total score)
To assess each software provider’s customer support services, I considered the following:
- 24/7 customer support availability
- Responsiveness of support team
- Access to a knowledge base
- Availability of live chat
- Quality of documentation
Value For Money (10% of total score)
To evaluate the value for money of each platform, I considered the following:
- Competitive pricing
- Range of pricing plans
- Features included in basic plan
- Discounts for annual subscriptions
- Cost of additional features
Customer Reviews (10% of total score)
To get a sense of overall customer satisfaction, I considered the following when reading customer reviews:
- Overall user satisfaction
- Feedback on software reliability
- Comments on ease of use
- Opinions on customer support
- Experiences with software updates
How to Choose Financial Statement Software
Choosing software can feel overwhelming with endless feature lists and tricky pricing details. To keep things simple and help you stay on track, here’s a handy checklist to guide you through your decision-making process.
| Factor | What to Consider |
| Scalability | Ensure the software can grow with your business. Look for solutions that can handle increased data volume and additional users without performance issues. |
| Integrations | Check if the software integrates with your existing tools, such as CRM or ERP systems, to streamline workflows and avoid manual data entry. |
| Customizability | Look for software that can be tailored to fit your specific financial processes and reporting needs, allowing you to create personalized dashboards and reports. |
| Ease of Use | Choose a user-friendly interface that minimizes the learning curve for your team, so they can quickly adapt and maximize productivity. |
| Budget | Consider the total cost, including any hidden fees for additional features or users, to ensure it fits within your financial constraints. |
| Security Safeguards | Verify that the software offers strong security measures, such as data encryption and access controls, to protect sensitive financial information. |
| Reporting Capabilities | Assess the depth and flexibility of reporting tools to ensure they meet your analytical needs and provide insights to drive business decisions. |
| Customer Support | Evaluate the quality and availability of customer support to ensure your team can get help when needed, reducing downtime and frustration. |
Trends in Financial Statement Software
While diving into my research, I sifted through tons of product updates, press releases, and release logs from various financial statement software vendors. Here are some of the key trends that have really caught my attention:
- Real-Time Collaboration: Teams want to work together in real-time, even if they're in different locations. This trend allows multiple users to edit and view financial statements simultaneously, improving accuracy and decision-making.
- AI-Driven Insights: AI is being used to analyze financial data and provide actionable insights, helping businesses make informed decisions faster. Some software solutions are integrating AI to detect anomalies and predict financial trends, enhancing strategic planning.
- Blockchain Integration: Blockchain technology is gaining traction for its transparency and security, and is now being used in financial statement software to ensure data integrity and traceability. Vendors exploring this trend are offering blockchain-based audit trails that enhance trust in financial reporting.
- Sustainability Reporting: As businesses focus on sustainability, there's a growing demand for tools that track environmental and social metrics. Financial statement software is evolving to include features that help companies report on sustainability initiatives, aligning financial performance with corporate responsibility goals.
- Customizable Dashboards: Users want dashboards that fit their specific needs, allowing them to view relevant data at a glance. This trend supports better decision-making by presenting key metrics in a personalized format.
What Is Financial Statement Software?
Financial statement software is a tool used to automate the preparation and management of financial statements. It’s generally used by accountants, finance professionals, and business managers to enhance accuracy and efficiency in financial reporting.
Key features like real-time collaboration, AI-driven insights, and customizable dashboards help with accurate reporting, strategic decision-making, and personalized data views. Overall, financial statement software provides reliable financial data that supports informed business decisions.
Features of Financial Statement Software
When selecting financial statement software, keep an eye out for the following key features:
- Real-Time Collaboration: Allows multiple users to edit and view financial statements simultaneously, improving accuracy and decision-making.
- AI-Driven Insights: Analyzes financial data to provide actionable insights, helping businesses make informed decisions faster.
- Customizable Dashboards: Offers personalized data views that present key metrics in a format tailored to individual user preferences.
- Scenario Planning Tools: Enables businesses to test different financial strategies collaboratively, enhancing strategic planning.
- Automated Reporting: Reduces manual effort by generating financial reports automatically, saving time and ensuring consistency.
- Compliance Tracking: Helps ensure financial operations adhere to regulatory standards, providing transparency and accountability.
- Data Visualization: Transforms complex financial data into easy-to-understand visual formats, aiding in better data interpretation.
- Audit Trails: Provides a transparent record of all transactions, enhancing trust and accountability in financial reporting.
- Multi-Entity Support: Manages financial operations across multiple subsidiaries, making it easier for businesses with complex structures.
- Expense Tracking: Monitors and categorizes spending, helping users maintain control over financial resources.
Benefits of Financial Statement Software
Implementing financial statement software provides several benefits for your team and your business. Here are a few you can look forward to:
- Improved Accuracy: Automated reporting and AI-driven insights reduce errors and enhance the reliability of your financial data.
- Enhanced Collaboration: Real-time collaboration features allow team members to work together efficiently, improving communication and decision-making.
- Time Savings: Automating repetitive tasks like report generation frees up time for more strategic activities, increasing productivity.
- Better Decision-Making: Customizable dashboards and data visualization tools provide clear insights into financial performance, helping you make informed decisions.
- Regulatory Compliance: Compliance tracking and audit trails ensure that your financial operations meet regulatory standards, reducing risk.
- Scalability: Multi-entity support and scenario planning tools accommodate business growth, allowing your financial software to grow with you.
- Cost Control: Expense tracking features help monitor and categorize spending, aiding in maintaining control over your financial resources.
Costs and Pricing of Financial Statement Software
Choosing the right financial statement software means knowing what you’re paying for. Pricing can depend on things like features, team size, and any extra add-ons you might need. To make things easier, we’ve put together a handy table that breaks down common pricing plans, their average costs, and what you can expect to get with each one.
Plan Comparison Table for Financial Statement Software
| Plan Type | Average Price | Common Features |
| Free Plan | $0/user/month | Basic reporting, limited integrations, and basic support. |
| Personal Plan | $5-$25/user/month | Enhanced reporting, email support, and basic automation. |
| Business Plan | $30-$75/user/month | Advanced reporting, real-time collaboration, custom dashboards, and multi-entity support. |
| Enterprise Plan | $80-$150/user/month | Full feature set, dedicated support, compliance tracking, advanced analytics, and unlimited users. |
Financial Statement Software FAQs
Here are some answers to common questions about financial statement software:
How does financial statement software handle data security?
Financial statement software prioritizes data security by implementing encryption and access controls. These measures help protect sensitive financial information from unauthorized access. Many vendors also offer audit trails to track changes and ensure data integrity. It’s important to choose a solution that aligns with your security requirements.
Can financial statement software integrate with other financial tools?
Yes, most financial statement software solutions offer integrations with other financial tools like CRM, ERP, or payroll systems. This allows for seamless data transfer and reduces the need for manual entry. Check if the software supports your existing financial reporting software and other tools to enhance your workflow efficiency.
What level of customization is available in financial statement software?
Financial statement software often provides customizable dashboards, general ledgers, and reports. This flexibility allows you to tailor the software to your specific financial processes and reporting needs. Some solutions offer more advanced customization options, so consider your requirements when evaluating different products.
How does financial statement software support compliance?
These tools help ensure compliance by providing features like audit trails, compliance tracking, and regulatory reporting. They enable you to adhere to industry standards and legal requirements. Choosing a software with strong compliance features can minimize risks associated with financial reporting.
Is training required to use financial statement software effectively?
While many solutions are user-friendly, training is often beneficial to maximize the software’s potential. Vendors may offer tutorials, webinars, and customer support to assist with onboarding. Investing time in training can improve your team’s efficiency and confidence in using the software.
How do vendors price financial statement software?
Pricing models vary, with options ranging from free plans to tiered subscriptions based on features and users. Some vendors charge per user, while others offer flat rates for certain features. It’s crucial to understand the pricing structure and any additional costs before committing to a solution.
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