Types of Accounting Software

There are several types of accounting software you can choose from.  You can start with a free software then upgrade to a paid version.  The free version usually have many limitations.  They are usually for one user with the ability to use a limited number of features.

The software can be a client based software or an online system.  The client based software requires that you download and install the software on one of your computers.  They install on a single computer for a single user or a server and other client computers for multiple users.

The online version usually require a monthly or annual subscription.  Usually it does not require that you download any software on to your computer.  You will normally access the system with your Internet Browser such as Internet Explorer, Firefox, Sofari, Chrome, etc.

See below for a listing of these types of software.

What Should You Look For In An Accounting software

Consider the following when trying to determine what is the best accounting system for you.

Type of Business:
If you have a business that maintains a large inventory as oppose to one that does not maintain an inventory then you would want a software that have all the features for managing inventory.

How Many Users:
How many people will be using the system simultaneously. Will there be only one person or will there be more than one. The more user accounts requied the higher the cost.

Resources Available:
If you have limited resources then an online system will be best. It does not requrie additional computers and technical expertise to download and install software. Client based systems that require multiple user setup normally require a server computer and client computers. This requires technical expertise to setup.

Ease of Implementation:
An accounting system should be easy to implement. This is especially true if you're not an expert in Information Technology. The less time you have to commit to setting up the system the more you will have to actually focus on your business.

Ease of Use:
An accounting system should be easy to use. You should not have to undergo hours of training before you can start using it. It should be intuitive and easy to navigate and find what you're looking for.

Help & Support:
The system should have a built in help index and assistance via a phone call or email should be available from the vendor of the software. You should not have to pay separately for this service.

Features Required:
Some of the key features that should be part of any accounting software must include: Accoutns Receiveable, Accounts Payable, Banking, Payroll, Inventory Management, Time Costing, Job Costing, Fixed Asset management and Reporting, etc.

 

Free Accounting Software
Vendor Type Description Price
GnuCash Client Based This is a software that you download and install on your computer.  This is a free version that you could use forever. Free
Godaddy Online Bookeeping Online This is an online system from Godaddy that lets you create professional invoices, simplify tax preparation and track sales by syncing your Amazon, Etsy, eBay or PayPal seller account to this online bookeeping system. Free
TurboCash Client Based This is a software that you download and install on your computer.  It is a freeware software that lets you perform accounting functions for your small business. Free
Wave Online This is an online system with a free version that you could use forever. Free
Zoho Invoice Online This is an online system with a free version that you could use forever, but it limits you to only 5 customers and one user.  The paid versions range from $15.00 to $30.00 per month. Free

 

Paid Accounting Software
See a review of these software at
Topten Reviews
Vendor Type Description Price
AccountEdge Pro Client Based AccountEdge is powerful small business accounting software for Mac and Windows. $299.00
Bookkeeper Client Based Easy Start-Up Wizard to Set Up & Manage Your Business, Create Checks, Pay Bills and Process Payroll, Invoice Customers, Track Sales & Expenses Over 125 Custom Reports & Charts. $39.95
Cougar Mountain Client Based CMS Professional is a complete accounting package that also includes great new add-on products such as the CMS Professional Mobile App and the online storage of iVault Backup. $1,599.00
CYMA Client Based Flexible General Ledger account structures, unlimited customers / vendors / employees, extensive reporting & third party options ensure CYMA Accounting Software can expand as your organization grows. $795.00
Express Accounts Client Based This is a software that you download and install on your computer.  It is a free version you could use forever.  There are also paid versions that you purchase with monthly payments of $60.00 to $159.00. Free
Freshbook Online This is an online system with a free trial version you could use for 30 days.  It also comes in a paid version that you subscribe to with monthly payments of $19.95. $19.95 per month
NetSuite Small Business Online NetSuite online accounting software seamlessly couples core accounting functions such as general ledger, accounts receivables and accounts payable with strong compliance management. $1,188.00
Kaskoo Online Ideal for small business owners who want an easier alternative to QuickBooks and the flexibility of a cloud solution.  It also lets you upload images of your receipts. $10-$20 per month
NetSuite Online NetSuite is a Cloud Accounting software by Oracle.   
QuickBooks Online QuickBooks have several products to choose from to makes complex accounting tasks such as billing, payroll management and reporting surmountable for small business owners. $12.95 - $39.47 per month
Sage50 Client Based and Online This Sage50 accounting solution can help you manage all aspects of your business, from invoicing to reporting to paying your vendors, payroll management, etc.  It can be used as a client based system taht youplace on your own computer or as an online accounting system that you can access from anywhere.  
Sage One Client Based This Sage One accounting solution can help you manage all aspects of your business, from invoicing to reporting to paying your vendors.  It is an online accounting system that you can access from anywhere. $24.00 Per month
ZipBooks Online You don’t have to have an accounting degree to keep immaculate records for your business. ZipBooks provides you with a smart way to track all your transactions, keep on top of what you owe and who owes you, and figure out how much your business is actually making. $0.00-$125.00
Zoho Books Online Zoho Books is an easy-to-use, online accounting software designed for small businesses to manage their finances and stay on top of their cash flow.