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7 Accounting Software in USA Every Business Must Know Of

accounting software in USA

When it comes to good accounting software, the options in the market are exhaustive. If you try to explore various accounting software like Xero, Sage, QuickBooks, etc., it will take days or weeks to test them yourself and know which one is good for your business. Therefore, to address that, our experts have tested a plethora of accounting software and shortlisted the best ones.

7 Accounting Software in USA Every Business Must Know Of

However, due to the diverse requirements of businesses, software that might be the best fit for a business might not be the right one for the other one. Therefore, we have listed down the pros and cons of each accounting software to help you make the right choice.

7 Most Popular Accounting Software in USA 2024

Let us take a look at the most popular accounting software in USA. These are trusted by the experts and the business people equally when it comes to handling accounting, bookkeeping, invoicing, and sales tax.

Let us explore the various good points and shortcomings of this accounting software mostly used in USA, as well as prices and subscription plans.

7. FreeAgent

freeagent accounting software

FreeAgent is an accounting software that gives you a bird’s eye view of the company’s performance, income, expenses, and profit. It is the best for small businesses, providing features like integrated stopwatch, expense and time tracking, and aligns with GDPR (General Data Protection Regulations).

The software features a comprehensive dashboard, business insights, and security measures and supports multi-currency, cash flow tracking, payroll, and invoicing. FreeAgent allows you to integrate with platforms like Stripe, PayPal, and Zapier. Moreover, the software provides customer support via chat or email.

> Features

  • One can forecast their corporation tax bill.
  • Allows filing the self-assessment tax return to HMRC.
  • One can review VAT returns and files with a single click.
  • The software offers customer support via Chat and Email
  • Easier to analyze cash flow and check due tax bills.
  • It supports Windows.

> Pros and Cons

ProsCons
The user interface is well-designedThe reporting features are limited.
There is no limit to the number of clientsThere is a lack of integrations with some common software.
The plans are affordable
Supports international invoicing

> Pricing

  • Price: Plans start at $12 a month. (There is a 12% Discount on Annual Payments)
  • Free Trial: 30 Days Free Trial

6. Wave Accounting

wave accounting software

Wave is designed for small businesses and freelancers and features online payment and payroll applications. It is easy to use, offers double-entry accounting, and is integrable with accounting applications.

Wave is completely free, and users can use it for invoicing, banking, payment acceptance, accounting, and, in some states, payroll. The accounting software also flags overdue invoices, tracks cash flow, and even offers the option to accept online payments; however, the users will have to pay for that. The users also get a payroll feature, but the tax services are only available in some states. 

> Features

  • The smart dashboard provides complete information about the current status of the business and its performance.
  • You can track income and expenses without much hassle.
  • There is no limit on how many professional invoices you can create and send.
  • You get customer support via email
  • The supported platform is Windows

> Pros and Cons

ProsCons
Offers a free accounting planThere are limited reports available
Features double-entry accountingThere are no budgeting tools
You get free chat support for the first 60 daysThe accounting software is only for quite small businesses

> Pricing

  • Accounting: $0
  • Free chat support for two months 
  • Payroll self-service: $20
  • ACH payments: 1%/transaction
  • Payments: $ 2.9% + $0.30/transaction
  • Payroll: $35
xero accounting software

Xero is accounting software used in the USA and abroad. Designed especially for small businesses in the USA, Xero offers a high-quality experience for businesses seeking precision and efficiency. Additionally, it comes packed with tools that enable location-based time tracking and take cost allocation a step further. Furthermore, integration with TurboTax, QuickBooks, and Mailchimp ensures that no system work is isolated when using Xero.

Xero is incredibly versatile. Hubdoc simplifies data collection, offering multi-currency functionality to handle foreign transactions and maintain up-to-date inventory records. Meanwhile, Xero, with its capacity to track projects and manage payroll, proves to be an ideal solution for small businesses.

> Features

  • You can track bank cash flow.
  • One can send online invoices with online payment options.
  • Xero allows you to connect to your bank.
  • One can record and manage receipts or expenses.
  • You can review employee’s payroll information.
  • Xero allows you to generate financial reports and monitor the amounts.
  • Customer support is provided via Email
  • Xero supports Windows, Mac, Android, and iOS

> Pros and Cons

ProsCons
The accounting software is easy to useRecurring payments are not available
Xero provides cloud-based serviceThere is no live chat and phone support
You can easily integrate it
Free chat support for the first 60 days

> Pricing

  • The most basic plan starts at USD 25/month.
  • The Free Trial is of 30 Days.
7 Accounting Software in USA Every Business Must Know Of

Sage comes with rich financial reporting capabilities and a user-friendly dashboard that one can personalize as per the requirements. The tool is most useful if you want to get data about your business for things like finding the areas for cost-cutting or preparing financial reports. Sage allows you to get data from around thousands of areas like customers, employers, vendors, locations, product lines, and so on.

The dashboard comes with detailed real-time financial reports that help you instantly manage practical issues like a hiccup in the supply chain, etc. Moreover, if you are going for Sage Cloud-Based Accounting, you can access the software from anywhere with the internet. 

> Features

  • You can integrate it with Office 365.
  • Photos of receipts uploaded to OneDrive are auto-synced with Sage.
  • Sage 50 Accounting allows you to access transaction history, customer details, and account balances from Outlook.
  • The supported platforms are Windows and Mac

> Pros and Cons

ProsCons
Sage is cloud-based, and you can access it from anywhere.You need to pay extra for several functionalities, such as time tracking.
It comes with a Sage Member Masterclass for new users.The entrepreneurial perks like purchase order creation are few in number.
The tool allows detailed financial reporting.It is only focused on number-crunching.

> Pricing

  • The most basic plan starts at USD 34.30 a month. (You get a 40% Discount on Yearly payments.)
  • You get a free trial of 30 days. (It doesn’t require a credit card)

3. FreshBooks

freshbooks invoice and accounting software

FreshBooks provides everything one will need for basic accounting, such as income/expense management, automated invoicing, billing, generating, downloading, and emailing reports/statements, and so on. It is a cloud-based accounting solution, and quite efficient. FreshBooks is user-friendly and provides impeccable customer support. Moreover, it is fast to deploy and makes your investment worth every penny.

With FreshBooks, you can track the time for each project. The tool makes it very easy to view and create invoices and integrate them with other services. 

> Features

  • FreshBooks enables you to organize expenses effortlessly.
  • It allows you to generate invoices for clients with just a few clicks.
  • It allows you to use log hours and put them onto the invoice automatically.
  • FreshBooks offers customer support via Phone, Chat, and Email
  • You can collaborate on projects.
  • Supported platforms: Windows, Android and iOS

> Pros and Cons

ProsCons
The tool offers expansive integrationThe software lacks multi-currency support
FreshBooks provides customer supports
You get flexible plans
FreshBooks is collaboration-focused

> Pricing

  • Price: The most basic plan costs $4.50 a month ( You get a 5% Discount on Yearly Payment)
  • Free Trial: 30 Days Free Trial (Don’t Require a Credit Card)

2. Zoho Books

zoho books online accounting software

Zoho Books is a highly preferred accounting software in USA, owing to its steep learning curve and affordable prices. It is easy to integrate with GSuite and numerous payment service providers, Office 365 and Slack, as well as Add-on APIs and mobile apps.

The accounting software is quite expensive and has features like income/expense tracking, reconciliation, general ledger, a comprehensive range of reports, and analytics. It also makes it easy to export information. Moreover, the accounting software also has several mobile applications that allow businesses to manage company accounts anywhere they go.

> Features

  • Zoho Books automatically generates the report and calculates taxes.
  • It enables you to integrate with numerous online payments.
  • Zoho Books provides various plans from which you can choose.
  • You get customer support via Phone, Chat, and Email.
  • It allows the users to follow up on payments using automatic alerts.
  • Moreover, you can track expenses and record bills.
  • It supports Windows, Android, and iOS

> Pros and Cons

ProsCons
You can automate regular bills and installment changes.The reporting capabilities the tool allows are limited.
The two-factor authentication provides users with an extra layer of security.Zoho Books lacks advanced features.
You can easily generate invoices and receive payments.

> Pricing

  1. Monthly Plans
  • Professional: $ 29 per organization/month
  • Standard:$19 per organization/month
  • Basic: $ 9 per organization/month
  1. Yearly Plans
  • Professional: $ 290 per organization/month
  • Standard: $190 per organization/month
  • Basic:  $90 per organization/month

1. Intuit QuickBooks

intuit quickbooks accounting software

QuickBooks by Intuit is one of the most popular accounting software programs in USA. The software makes it easy to generate invoices, financial reports, and payroll operations. you can prepare tax returns and automate tax filing within QuickBooks. Moreover, QuickBooks provides both a web version and a desktop application, along with apps available for iOS and Android The mobile application makes it easier to check and manage accounts at any time.

“Additionally, QuickBooks is renowned as the top accounting software for CPA practices in the USA, with many accountants relying on its features. Furthermore, the software offers a variety of plans specifically designed for self-employed individuals, small businesses, and accountants to select from.

> Features

  • One can check and manage accounts at any time, from anywhere.
  • Roles and permissions allow multiple layers of security in QuickBooks.
  • You have the option to manage your cash flow according to vendors’ due.
  • You get customer support via Phone
  • It supports Windows, Android, and iOS
  • QuickBooks supports online banking integration.
  • One can create professional invoices and sales receipts.

> Pros and Cons

ProsCons
You can easily manage the inventoryThe software is quite expensive compared to its competitors
QuickBooks makes it quite easy to sync bank statementsThe customer support is below-average
The software is very simple and quite easy to use
The user interface is beginner-friendly

> Pricing

Price: The most basic plan starts at USD 11/month (You get a 30% Discount on annual payments).

Free Trial: There is a 30-day free trial for the new user.

Final Words

This was about various accounting software in USA that are widely trusted and used by accountants and small businesses. Go through the features, pricing, upsides, and downsides of this software and select the right one as per your business requirements.
If you need to consult an expert, do not hesitate to reach out to A2 Auto Care ProAdvisors. Dial +1(800) 780-3064 and speak to an accounting expert. They will answer your queries about the accounting software you are thinking of buying and help you choose the right one.

Frequently Asked Questions

What are QuickBooks Accounting Services?

QuickBooks provides accounting services like assisted bookkeeping and full-service bookkeeping. Furthermore, you can use QuickBooks to create invoices, receive payments, and perform other tasks You can opt for assisted payroll or carry them out yourself.

Which is the best accounting software in USA?

QuickBooks is an accounting software widely used in the USA. A major portion of accountants and small businesses rely on QuickBooks. QuickBooks has two major versions: QuickBooks Online and QuickBooks Desktop.

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