Top 6 accounting automation software for businesses to consider in 2023
Top 6 accounting automation software for businesses to
consider in 2023
The following list of accounting software has been compiled by closely looking at reviews and ratings on G2 and Capterra. You'll notice each review followed by a relative rating on both platforms and a quote from a user.
Note: The order of this list in no way shows our preferences or their quality. The list just showcases a range of different softwares, some of which suit businesses at a particular stage or type. So read through the descriptions thoroughly and choose the software whose offerings seem best suited for you.
Quickbooks – the go-to software for SMBs
Quickbooks is easily the most popular accounting software in the market. With over 3.4 million SMBs on board, it's used by finance and non-finance professionals worldwide. Being quick to set up and reasonably priced, it offers tools and features beneficial for SMB accounting.
What users say about QuickBooks:
“Quickbooks has become an indispensable element of my business, and I'm still using it after 11 years. It simplifies payroll, AP, AR, and anything else my accountant would charge me to do.”
Speaking of which, Fyle has a native Quickbooks integration for expense management to export your spend data in just one click.
Xero – loved by accountants and SMB owners
Xero has a robust and thorough platform for accountants and an interface that is easy to use and understand for even non-financial employees. With Xero, finance teams and accountants don’t need to recreate records for the rest of the organization; employees can simply log in and obtain the information they need.
What users say about Xero:
“A bookkeeper's bookkeeping service!”
So Fyle also has a native Xero integration for spend management that helps you shorten reimbursement cycles and have all your expense data in one place.
NetSuite – the most popular ERP for larger organizations
While Xero and Quickbooks were built keeping SMBs in mind, Netsuite is for larger organizations. Being one of the most prominent ERP (Enterprise Resource Planning) solutions available, it integrates seamlessly with other core business functions overseen by CFOs.
The full suite of features ranges across various business performance tools like HR management, inventory management, product management, purchase order management, vendor management, and many more. This, in turn, enables business leaders to manage all these aspects from one central platform.
What users say about NetSuite:
“NetSuite is a scalable, customizable, and powerful software allowing you to run all ERP functions.”
Sage Intacct – an AICPA favorite
Being the first and only provider for the AICPA, Sage Intacct ranks the highest in customer satisfaction on all prominent review platforms. In addition, Sage claims that their customers achieve a 65% improvement in productivity and payback within six months of adoption.
What users say about Sage Intacct:
“For me, one of the best parts about Sage Intacct is the flexibility and the intuitiveness of the system. This system seems to have been built with the end-user in mind and has a very logical layout.”
FreshBooks – made for the service industry
Pitted against Quickbooks and Xero, Freshbooks is another major player in the cloud-based accounting ecosystem. Still, with one little difference – it takes particular care to build solutions for service companies.
From marketing agencies to therapists, if you’re creating value for your clients by applying your knowledge to their problems, Freshbooks is made just for you.
What users say about FreshBooks:
“What I like best about Freshbooks is it's a simple and easy-to-use time tracking and billing solution for a small business. It makes sending out invoices easy and provides an easy method for clients to make payments via credit card.”
Wave – easy to use with a free version for freelancers
Wave is an excellent option for SMBs – typically startups with 1-9 employees, freelancers, or solopreneurs. Its most significant benefit is that customers can manage unlimited expenses and incomes, connect to their bank accounts and credits, and do all essential accounting functions for absolutely no charge.
The only fee you’d have to pay is for credit card transactions through the platform. And that’s it.
What users say about Wave:
“I love how easy Wave is to use, how I can track all expenses, and run reports whenever I need them. Super easy to send invoices, get online payments and now even add payment links to websites.”