A quick Quora search for ‘accounting solution’ or ‘accounting tools’ will turn up a bevy of queries and responses all seeking to answer the same enigmatic question: What is the SaaS accounting solution for a small business?
The answer, as becomes quickly apparent while sorting through the most upvoted responses, is not unanimous. Quite often the best way to approach a potential change to a new software is to ask yourself whether this new solution will be more effective and efficient than your current solution — not whether this new software will singlehandedly perform all accounting functions effortlessly. Here then is a list of the best programs in the market right now, software that will provide a solid backbone for your accounting processes until the next great thing comes along or you outgrow your current services.
Free; Plans start at $19.95/mo
Essentially InDinero is a financial advisor and visualizer. It downloads your bank records and organizes them in a number of ways to help better understand your company's finances.
$25/user/mo base; Additional cost per application used
Intacct offers a cloud financial management and accounting system with a pay-as-you-go model for additional accounting tools
Double entry accounting that supports multiple currencies and integrates easily with FreshBooks.
LessAccounting is lauded for its intuitive, easy-to-use UI good for small businesses.
Free; Plans start at $9.95/mo
From Quora, "[Outright is] great for sole proprietors/freelance workers who want to spend minimal time on bookkeeping."
- QuickBooks Online
Plans start at $12.95/mo
QuickBooks is good for companies with a dedicated accountant familiar with the full capability of the application however because of the secondary market of supporting software it can easily be used for small business accounting.
Saasu has a ton of features, so many that one person on Quora called it, "quite hard to use," which means you should expect a learning curve.
A full-featured application including double entry accounting and a price so cheap it's free for life.
Plans start at $19/mo
Xero requires a little technical knowledge like Quickbooks, but also integrates well with other web apps like Shoeboxed
Free; Plans start at $9/mo
Yendo was recommended for a brand new business as its services are free for one user and upgradable as your business grows.