Interactive Market Radar™
<iframe id="market-radar" type="text/html" width="500" height="500" src="https://business.softonic.com/accounting-finance/accounting-software/radar" frameborder="0"></iframe>
<p>Source: <a href="https://business.softonic.com/accounting-finance/accounting-software#top-list" target="_blank">Accounting Market Research</a>, Crozdesk</p>
Live Market Infographic preview
<a href="https://business.softonic.com/accounting-finance/accounting-software" target="_blank" title="Live Accounting Marketing Infographic">
  <img src="https://business.softonic.com/infographics/accounting-software/embed" />
</a>
<p>Source: <a href="https://business.softonic.com/accounting-finance/accounting-software#top-list" target="_blank">Accounting Market Research</a>, Crozdesk</p>

Best Accounting Software in 2018

The Accounting Software-as-a-Service (SaaS) market is dominated by a few major vendors that offer very homogeneous accounting products focused on simplifying the bookkeeping process for businesses of varying sizes.

Differentiation tends to be marginal through specialized add-on tools, integrations, reporting functionality, or pricing strategies.

Historically, Sage and Intuit’s Quickbooks product series have dominated the accounting software market. Since then, they also launched cloud-based versions of their products to serve a wider spectrum of small to medium-sized businesses.

Other players have entered the market in the past decade and raised the bar significantly with strong product offerings, carving out sizable market shares with no signs of slowing down their growth.

Compared to other markets where vendors are spread across all sectors of the Crozdesk Market Radar™, accounting software vendors focus on achieving growth.


Accounting is among the most crucial tasks a business has to perform. Accounting requirements vary from basic, such as crediting and debiting accounts, to advanced, such as generating income statements and balance sheets. Accounting software solutions automate processes in line with the relevant accounting rules and regulations and according to the relevant standards. Using this type of software, businesses can handle accounting in a convenient and organized manner. Accounting encapsulates a number of subcategories mentioned below, including tax management, payments and invoicing, as well as financial reporting.  Read the full software guide...


Crozdesk Software Ranking 2017

Crozdesk Icon Top 10 Accounting Software in 2017 View All Products

Every business needs accounting software. Below you can find the top accountancy solutions for freelancers, startups, small and mid-sized businesses in 2017. All applications are ranked by our Crozscore algorithm - taking into account large amounts of market data. The primary ranking factors are: general user satisfaction and usability, features and overall popularity. Additionally, you can find quotes from our in-house software experts below to get a better idea of each winner's offering.

This ranking was published on July 20, 2017. For the most up-to-date Crozscores, user reviews and other information have a look at the full accounting product list.

1
94%
Freshbooks

Freshbooks (618) Most User Friendly

  • Crozdesk Icon Grey

Freshbooks is not a traditional accounting software. It aims to make invoicing and other accounting tasks dead simple for small businesses. If you simply want to track money going in and out of your business, don't need a complicated double-entry solution and are planning to hand off the key figures to your accountant once a year, Freshbooks is the way to go. More Information...

2
89%
Zoho Books

Zoho Books (111)

  • Crozdesk Icon Grey

Zoho Books is packed with features, yet provides a simple and fairly easy-to-use accounting setup that tracks money coming in and going out of your business. Its various automation features cut down on manual labor requirements. More Information...

3
87%
Xero

Xero (567) SME Pick

  • Crozdesk Icon Grey

Xero is a quickly expanding, powerful and very affordable solution that's an excellent pick for businesses who are looking for a versatile solution that is increasingly popular with accountancy providers. Its well-rounded product with easy reporting functionality makes it a joy to use. More Information...

4
83%
Wave

Wave (31) Most Affordable

  • Crozdesk Icon Grey

Wave is an all-in-one accounting solution primarily geared towards small businesses with 9 employees or less. It offers a well-rounded, powerful solution that is entirely free to use - with pay-as-you-go pricing on extra services, such as card and payroll processing. More Information...

5
80%
Sage Business Cloud Accounting

Sage Business Cloud Accounting (1)

  • Crozdesk Icon Grey

Sage has been providing on-premise ERP and accountancy solutions for decades now and have - with Sage One - finally built a solid cloud-based alternative for startups and SMEs. More Information...

6
79%
FinancialForce

FinancialForce (175)

  • Crozdesk Icon Grey

FinancialForce integrates seamlessly into Salesforce, so you can track opportunities from your sales funnel straight through to your final accounts. If your business runs on Salesforce and you want to have complete visibility over your sales and finance functions you should definitely consider adding FinancialForce to your software stack. More Information...

7
75%
FreeAgent

FreeAgent (50) Freelancer Pick

  • Crozdesk Icon Grey

FreeAgent is another solution specifically designed for very small teams. It is especially popular with freelancers and DIY wannabe accountants. If you have a small business and don't need any fancy frills, FreeAgent could be the right software for you. More Information...

8
73%
Clearbooks

Clearbooks (163)

  • Crozdesk Icon Grey

Clearbooks is a simple accounting solutions available for SMEs in the UK and the Netherlands only. Its simplified approach to day-to-day bookkeeping is a good pick for small teams who don't require a complicated setup. More Information...

9
68%
Quickbooks Online

Quickbooks Online (439) Market Leader

  • Crozdesk Icon Grey

Intuit's Quickbooks is the long-standing SME market leader in the US and many other western countries. However, user satisfaction has been flailing in recent years and newer solutions are increasingly stealing its market share. If you are looking for the most widely used solution - this is it! More Information...

10
60%
Boox

Boox (246)

  • Crozdesk Icon Grey

Boox is a UK only solution providing a full-stack accountancy service, combining its software with expert advice from dedicated accounting professionals. Its main user groups include contractors, freelancers and other small businesses. More Information...


This Software Ranking was published on July 04, 2017. All Crozscores are fixed as of that date.

Accounting Software Guide

What is Accounting Software?

Any digital solution that helps individuals or organizations to monitor and keep a record of their financial transactions can be called accounting software. Products in this category range from single-entry systems that help automate record keeping and check writing to double-entry systems capable of performing more complex accounting tasks for SMBs or larger companies.

Accounting software for business organizations usually comprises of some specialized modules, such as general ledger, accounts receivable and accounts payable. More advanced products may have functions for financial reporting and analysis, billing, payroll and fixed asset accounting.

You’ll also find accounting software solutions designed for a specific industry or market. These products usually come with some additional features specially designed for the target market. For instance, products targeting the non-profit market often come with grant management and fund accounting features.


What Accounting Software Should I Choose?

When choosing accounting software for your business, consider the degree of automation the software provides and its integration capability. For instance, you may need an accounting solution that will seamlessly integrate with your existing payroll or POS system. If your business is growing, you’ll need more automation to help reduce manual errors.

Depending on the size and nature of your business, choose either an integrated suite that combines multiple functionalities into one software package or an entry-level product that focuses on one particular area of enterprise accounting. Some common areas of focus include accounts receivable, accounts payable, financial forecasting and financial reporting. Choose a product that includes all the features you’ll need.

Accounting software usually features the ability to track daily expenses, create and send invoices, track payments, record sales and provide real-time reports on profit and loss. More advanced products often feature the ability to create customizable purchase orders, add attachments to bills and invoices, keep track of inventory, make collaboration with accountants and internal team members easier, support multi-currency accounting and create financial reports.

You’ll also find products that come with industry-specific features. For instance, if you are running a real estate firm, you may look for a product that automates commission calculations. If you often need to send financial reports to regulatory authorities, you may look for a product with strong financial reporting capability. Some products even allow you to report depreciations to your tangible assets, such as equipment and buildings. Other important considerations include scalability, user interface, ease of navigation and the number of users the system can handle.


Common Features of Accounting

2-Factor Authentication Adds an additional layer of security by requiring an extra step in the login process. Usually external devices are required for this or a text message with a verification code is sent to the user when trying to login.
Accounts Payable Keep on top of payables and manage what you owe to creditors and suppliers.
Accounts Receivable Track unpaid invoices and keep on top of what your customers and debtors owe you.
API Application Programming Interfaces (APIs) are programmatic intersections with external products or platforms that allow for custom integrations with your own solutions or other solutions you are using.
Balance Sheet A common financial statement used as a snapshot of a business's assets, liabilities and capital at a particular point in time.
Billing/Invoicing Issue bills and invoices to customers, often combined with tracking capabilities for outstanding payments.
BitCoin BitCoin support - a digital currency operating independently of a central bank.
Budgeting Planning and tracking capabilities for financial budgets and plans often used to manage funds across different departments or for investor / shareholder oversight.
Calendar Management Manage and update calendars for scheduling or consolidation of events across teams, departments or business functions.
Contact Management Manage large amounts of personal or business contacts in a centralized system.
CRM Integration This indicates whether integrations with Customer Relationship Management (CRM) software are supported by a software application.
Customer Management Manage customer databases and/or track outstanding shipments, payments and more.
Dashboard Dashboards are digital interfaces commonly used to visualise data or give quick access to important features and functions of online platforms. They often serve as an overview gateway in software applications.
Data Export Exporting functionality can be used to streamline the migration of data sets and information across systems, platforms or applications.
Data Import Importing functionality allows you to use data sets from other systems or platforms to cut down on data entry requirements or to more easily migrate records from similar applications you have used in the past.
Data Visualization Data visualization features render a visual interpretation of data sets through the use of charts, infographics and other visual cues generally in form of a reporting dashboard.
Expense Tracking Track employee travel and other expenses to stay on top of budgeting requirements and reimbursements.
External Integrations Integrations with other software products or platforms to improve efficiency and compatibility across systems.
Forecasting Forecast upcoming expenses, sales, revenue, user levels, etc. through the use of predictive methods and past data.
General Account Ledger Track transactions in the form of account information to prepare financial statements and reports.
Inventory Tracking Stay on top of inventory levels, to manage the storing, reordering or production of stock items.
Multi-Currency Support of different currencies for payments, accounting purposes, taxes, reports and more.
Multi-User Supports more than just one user account and generally allows for collaboration with colleagues.
Notifications Includes notification support and sends you alerts with information on important events and other time sensitive instances. For example through push notifications on mobile phones or email notifications.
PayPal PayPal support allowing for the transfer funds electronically or online payments.
Payroll Manage employee payroll to keep track of taxes due to the government, pension schemes and payments to employees.
P&L Support for Profit & Loss statements in financial / accounting systems.
SAP Integration Integrates with common SAP services.
Stripe Stripe support as a payment gateway allowing you to accept payments online and via mobile apps.
Supplier Management Manage suppliers and purchases required in the day-to-day operation of a business.
Tax Management Manage tax payments and reporting requirements to ensure compliance with local or national taxation regulations.

Latest User Reviews of Accounting

Xero
Scott Latz, Manager - Innis Arden Swimming Club
"Simple Accounting"

Xero is relatively easy to use and has plenty of features that you just can't beat fo...

Sage 50cloud
Joshua Stock, Client Relationship Manager - Workplace Advice Group
"Great for Auto-enrolment"

We used to use Sage for our payroll software, it became especially useful when Auto-e...

Xero
Joshua Stock, Client Relationship Manager - Workplace Advice Group
"XERo"

We love that Xero is so easy to use, breaks through all the jargon. No need for long ...

HostBooks Accounting
saikiran mahajan, Marketing Analyst - HostBooks
"The art of Accounting - HOSTBOOKS "

HostBooks accounting is tremendously easy to use software . Especially the Amazon Clo...