Accountancy Software
Accountancy software enables to track the cashflow and finances of the company effectively with ease. With Accountancy Software, businesses can streamline the accounting and finance management eliminating the manual entries and the tedious task of digging through excel sheets. It has ability to integrate with other tools like CRM, email marketing, inventory management, payroll management and more if the software doesn’t own those. User can customize the invoices with prebuilt templates, generated automatic invoices and print invoices. Accountancy software has some key features like Accounts receivables, Bank reconciliation, Expense tracking, Project accounting, Billing and invoicing and more.
Below given are the top accountancy softwares.
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FreshBooks is a cloud based accounting solution platform, which is popular among small and medium businesses.
★★★★★
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FreshBooks is a cloud based accounting solution platform, which is popular among small and medium businesses.
PROS:
- Freshbooks is a simple and easy to use accounting software that saves time. Users without accounting knowledge also can learn to use the software.
- Excellent Customer service with swift response via email, phone and chat.
- Freshbooks has well developed mobile app that supports Android and iOS platforms. Users have the flexibility to manage the accounts wherever and whenever they want.
- Users can create professional looking invoices by customizing with colors, font and logo..
CONS:
- FreshBooks users report that it has limited features and there is still room for improvement interms of integration, more number of templates and more supported currencies.
- Users find the software is bit expensive when compared to other software of same category.
- Fewer subscription levels.
- Many Users revert back to classic version of FreshBooks as it offers more features than new version.
NetSuite is the world's leading cloud based ERP solution.
PROS:
- Reliable and leading cloud based ERP solution.
- Automates the processes and saves time and optimizes resource utilization.
- Fully scalable and tailor to the business needs.
- Built-in business intelligence to generate insights and take valuable decisions.
- Real time view of data.
- Reduces hardware and technology cost of the enterprise.
- Empowers businesses of any scale(small, medium and large).
- Best-in-class features when compared to other softwares in the category.
- Well integrated within the departments of the organization to optimize the resources.
- Excellent Customer Support.
CONS:
- Expensive.It is difficult to afford by small businesses.
- It is not only a financial management solution but comes with different toolset which might not be useful for some companies.
- Customization is a bit difficult and it needs learning to get acquainted with it.
- New versions and upgrades sometimes create issues.
Quick Books online is one of the popular cloud based accounting software designed for all enterprises to streamline their accounting environment.
★★★★★
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Quick Books online is one of the popular cloud based accounting software designed for all enterprises to streamline their accounting environment.
PROS:
- Bookmark helps you create websites that are tailored to the needs of your business based on your exact requirements and specifications.
- Leverages Artificial Intelligenc to eliminate the redundant tasks and only focus on some of the customization, which helps you save time.
- With AiDA, Bookmark can figure out what exactly a user needs and delivers exactly the same.
- One-One support.
- WYSIWYG editor enables you to edit and preview it in different screen resolutions (desktop, tablet, smartphone).
- Bookmark provides 1.5 million stock images and videos.
- It provides free storage for files, videos and images.
CONS:
- Merchant Services is expensive and unresponsive.
- There is no service level agreement and Intuit takes zero responsibility if they lose your data.
- Reports from user that there is no phone number to call. You have to wait for a callback, and many times they don't call back.
- The software has many bugs, and often won't sync with accounts for days or more.
- Multi-currency requires the user to go online externally to grab exchange rates. It's confusing to issue customer refunds.
Sage Intacct is a best-in-class cloud based ERP software that is trusted by more than 11,000 businesses.
★★★★★
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Sage Intacct is a best-in-class cloud based ERP software that is trusted by more than 11,000 businesses.
PROS:
- Intuitive dashboard to manage all accounting solution at one place.
- It's easy to use if you're doing simple bookkeeping.
- Zoho Books allows you to create invoices in no time.
- Ability to handle refunds, returns, and retainers.
- Integrates with paypal and other payment gateways.
- Multiple modes of payment options and supports multi-currency transactions.
CONS:
- Zoho books is not for large businesses.
- No payroll.
- Slight learning curve required.
- Features are not advances when compared to competitors.
Tally is one of the leading ERP software for accounting, inventory, banking and payroll.
★★★★★
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Tally is one of the leading ERP software for accounting, inventory, banking and payroll.
PROS:
- Simple and user friendly interface.
- Uses double accounting method.
- Keyboard Shortcuts.
- Reporting.
- Easy to reconcile trial balance.
- Consolidated statement of company summaries by creating a group.
- Print vouchers
CONS:
- Lacks data cloud hosting.
- Can only run on Windows. No cross platform.
- No Customization available.
- No transaction scheduling.
- Some basic functions are missing
Wave is totally free and fully integrated accounting solution for small businesses.
★★★★★
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Wave is totally free and fully integrated accounting solution for small businesses.
PROS:
- Free tool with features on par with paid ones.
- Bank upload and reconciliations feature for free.
- Good customer and supplier reconciliation features for a free system.
- Flexibility to connect to external accounts for transaction import.
- Cloud based accounting tool, Hence users can access from anywhere.
CONS:
- Connection issues with bank accounts and credit card accounts.
- Too much learning needed to understand the software.
- Issues with handling inventory.
- Some aspects of the Dash Board are not intuitive.
- More needed with regards to integrations.
Xero is a robust cloud-based accounting solution with sophisticated features for small business owners.
★★★★★
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Xero is a robust cloud-based accounting solution with sophisticated features for small business owners.
PROS:
- Affordable.
- Simple Dashboard and easy to setup.
- Easily create quotes and convert them to invoices, purchase orders, or bills.
- Xero comes with client portal, where customers can view, print, and pay invoices directly online.
- Inventory tracking and make adjustments.
- Xero enables to track billable time to add to projects.
- Exporting and importing of data using multiple file forms.
- New report filters.
- Complex reconciliation tools.
- Updated expense tracking.
- Exceptional online support.
- Project-tracking.
CONS:
- Enhancements are necessary to the Mobile app.
- Phone and chat assistance is missing.
- There are no email reminders for low stock.
- Could have provided more invoice template designs.
- Importing data can be quite cumbersome and time-consuming.
Zoho Books is a cloud-based accounting solution developed to cater to the needs of small businesses.
★★★★★
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Zoho Books is a cloud-based accounting solution developed to cater to the needs of small businesses.
PROS:
- Intuitive dashboard to manage all accounting solution at one place.
- It's easy to use if you're doing simple bookkeeping.
- Zoho Books allows you to create invoices in no time.
- Ability to handle refunds, returns, and retainers.
- Integrates with paypal and other payment gateways.
- Multiple modes of payment options and supports multi-currency transactions.
CONS:
- Zoho books is not for large businesses.
- No payroll.
- Slight learning curve required.
- Features are not advances when compared to competitors.
