Best Accounting Software of 2020

Our accounting software reviews are the result of over 40 hours of research on 130+ accounting software companies from across the web. These reviews and our accounting software guide help small businesses and startups find the best accounting software for their business.

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The 15 Best Accounting Software Companies of 2020


How We Chose the Best Accounting Software

Choosing software that will handle all of the critical data of your business finances needs careful consideration. The following are the three key features to look for when deciding which accounting software will best fit your business needs.

Core Accounting Features

A good accounting software assists with the essential functions necessary to balance a business’s books, including general ledger functionality, the ability to track accounts payable (A/P) and accounts receivable (A/R), fixed assets, and bank reconciliation.

Billing & Invoicing Features

Good accounting software automates the collection of payments from customers to enable timely and consistent collection with minimal human error. These features are typically add-ons for multicurrency and e-commerce support, sales tax calculations, credit card payment processing, balance sheet tracking, and bank feeds.

Support for Multiple Business Needs

Every business has different needs. We prioritized software that offers additional accounting functions like payroll processing, project-based billing, inventory management, nonprofits, and more.

The 15 Best Accounting Software of 2020

CompanyPriceFree Trial / DemoMore
BlackLineCustom quoteFree demoVisit BlackLine
DeltekCustom quote14-dayVisit Deltek
Deskera$9/user/month for Startup
$19/user/month for Essential
$39/user/month for Pro
30-dayVisit Deskera
Free Agent$10/month14-dayVisit Free Agent
FreshBooks Accounting Software$4.50/month Lite
$7.60/month Plus
$15/month Premium
30-dayVisit FreshBooks Accounting Software
Intuit Quickbooks Online$12/month Simple start
$20/month Essentials
$35/month Plus
$75/month Advance
30-dayVisit Intuit Quickbooks Online
Kashoo$16.65/month14-dayVisit Kashoo
NCH Express Accounts$69.95/one-timeNoneVisit NCH Express Accounts
Plooto$25/month30-dayVisit Plooto
Sage 50cloud$38.75/month30-dayVisit Sage 50cloud
Striven$20/month14-dayVisit Striven
Wave FinancialsFreeN/AVisit Wave Financials
Xero$9/month Early
$30/month Growing
$60/month Established
30-dayVisit Xero
Zipbooks$15/month Smarter
$30/month Sophisticated
14-dayVisit Zipbooks
Zoho Books$9/month Basic
$19/month Standard
$29/month Pro
14-dayVisit Zoho Books



BlackLine solutions empower accounting and finance teams to manage and control the end-to-end financial process by automating accounting workflows, providing a centralized and secure workspace to perform period-end accounting activities, and streamlining financial reporting.

By removing the complex, manual, and error-prone steps inherent in dated accounting practices, BlackLine enables teams to focus on analyzing discrepancies and uncovering new ways to create value for their organization.

This Continuous Accounting approach eliminates busywork, evenly distributes tasks across the close, and facilitates continual monitoring for errors, fraud and inefficiency, so that accounting and finance leaders can work on sustaining a competitive advantage, even in the face of growing workloads and stringent regulatory environments.

Price Free Trial / Demo Features
Custom quoteFree demo>Financial reporting and consolidation
>Dashboards and continuous accounting approach
>More features at BlackLine

Pros & Cons of BlackLine Accounting Software

>Its availability on the cloud makes it convenient for accountants managing reconciliations from different companies.>Implementing the application may take longer
>An easy-to-use interface with a matching support staff .>Too many fields to fill that may be unnecessary to other businesses
>Can support both internal and external audit procedures helping in cost reduction. 

What Customers Are Saying

“BlackLine is an excellent accounting tool that handles reconciliation better since its integration with SAP. Dealing with variances and discrepancies are now easy to handle. The only limitation it has is its real-time data processing.”


Take charge of your financial reporting process by using one of the best accounting software in the industry. You can utilize its automation features when you need to have control over how to display financial information. It also helps eliminate the time-wasting manual data extraction process using Microsoft Excel.

Simplify the complex financial reports when reporting across multiple modules. For example, pull data from the general ledger, accounts, and vendors to generate billing and expense reports. Using Deltek will help you walk away from static report distribution, allowing managers to drill down on project details regarding performance. Create custom reports and dashboards from the Deltek modules for job costs, cash flows, utility costs, and profitability.

Price Free Trial / Demo Features
Custom quote14-day>Real-time data access reduces the reporting cycle
>Information sharing across the organization
>Proposal tracking and integration with some CRM functions
>More features at Deltek

Pros & Cons of Deltek Accounting Software

>Customizable user-defined fields and grids is a huge advantage.>The application does not interact with system mail to utilize the contacts
>Creation of and scheduling of workflows  allows for the addition of user’s creativity>User interface looks dated
>Line by line expense reports makes it easy to upload receipts 

What Customers Are Saying
“Handling project accounting means every employee, regardless of the department, can fill the timesheet at the end of the week. The system tracks all functions of the business, which is great.”


Deskera is an excellent accounting software to handle almost all financial aspects of your business. The application offers features that allow businesses to run their entire accounting department efficiently, including easy sharing and chat capabilities. Deskera also allows you to access and control your inventories, so that you can track all of your product movements from a single application.

For any modern business enterprise that runs an accounting and payroll management operations, Deskera is a solid solution. Its diversity makes it suitable for both small and medium enterprises seeking to redefine their management process. Its accounting cloud management provides top security where all confidential information is accessible at any time.

Price Free Trial / Demo Features
Startup: 9/user/month
Essential: $19/user/month
Pro: $39/user/month
30-day>Workflow management
>Payroll management
>Quality control
>More features at Deskera

Pros & Cons of Deskera Accounting Software

>Manages sales and purchases handling invoices, quotations, and returns etc.
>The application has integration options for inventory and manufacturing information.
>Offer supply chain and vendor management.
>Exported financial reports could be improved

What Customers Are Saying
“The application is one of the best choices for handling all businesses’ functions. The exported reports may need some refining.”

Free Agent

Free Agent is a cloud-based accounting software thought to be the best for invoice generation. Freelancers and small businesses use the software to manage their expenses, payroll, invoices, tax returns, and other accounting duties. The application can also work on a mobile platform for both iOS and Android platforms.

Accountants can set up recurring transaction invoices that are automatically sent to clients as a payment reminder. By uploading a photo of receipts using the mobile app, users can track expenses. This application also allows users to manage timesheets and track employee hours using a built-in stopwatch.

The user interface of the application is nested with moveable cards on the dashboards that you can arrange to your liking. The work tab makes it easy for accountants to work with estimates, time tracking, and projects. The front panel gives users the freedom to access invoice and email templates, add the company logo, create an inventory price list, and create a list of additional users as necessary.

Price Free Trial / Demo Features
$10/month14-day>Billing time and expenses
>Smart banking and reconciliation
>Bank feed through direct connection
>More features at Free Agent

Pros & Cons of Free Agent Accounting Software

>Easy to keep track of cash flows with expense and invoice payments>Exporting data is not fully developed
>Reminds accountant of when the annual accounts and corporate tax are due 
>Mobile platform 

What Customers Are Saying
“Free Agent is highly recommended as it makes booking an easy effort for novice accountants who will remain happy. However, the software is useful for small organizations that offer services with a manageable inventory.”

FreshBooks Accounting Software

For a well-rounded application with an intuitive interface that handles double-entry bookkeeping, Freshbooks is worthy of a look. The application works well for freelancers and small businesses to track invoices, expenses, estimates, and time tracking.

Businesses that need help streamlining client invoices and tracking different accounting processes will like FreshBooks implementation, in particular growing businesses. Freelancers who need support with estimates and invoice collection will find a lot to like too. The software allows you to update the design, logo, and colors on your invoices and estimates to give you a professional look.

Price Free Trial / Demo Features
$4.50/month Lite
$7.60/month Plus
$15/month Premium
30 Days>Invoice-to-payment functions
>Optimized expense tracking
>  Reporting based on data already in the system
>More features at FreshBooks

Pros & Cons of FreshBooks Accounting Software

>Supports double-entry accounting>Does not produce quarterly tax estimates
>Exceptional user experience 
>Team collaboration tools available 

What Customers Are saying
“FreshBooks is an excellent accounting software that makes invoicing an enjoyable experience for any accountant. Though, some reporting and other aspects of the dashboard needs improvement.”

Intuit QuickBooks Online

Intuit QuickBooks Online enables the management of business activities from anywhere at any time. The online version, SaaS Quickbooks, provides all of the features available from the local version, including sending invoices, tracking inventory, and running payroll. It’s one of the longest serving accounting softwares and it’s not hard to see why.

QuickBooks offers many advanced features too such as invoice customization, robust reporting, handling multiple currencies, and it supports over 600 third-party integrations.

Price Free Trial / Demo Features
$12/month Simple start
$20/month Essentials
$35/month  Plus
$75/month Advance
30-day>Automatic sales receipt 
>Transaction splitting
>Categorizes transaction to location and classes
>More features at Intuit QuickBooks

Pros & Cons of Intuit QuickBooks Online Accounting Software

>Robust client portal to handle invoices that enables the client to pay, review, print, pay, or ask a question>No tax management tools
>Mobile-friendly platform 
>Third-party integrations are simple to implement 

What Customers Are Saying
“I am not an accountant or a bookkeeper. However, using QuickBooks does not require any technical knowledge. With many sophisticated accounting features, small business owners will find an easy implementation.”


Kashoo is an online accounting software suitable for small businesses that makes it easy to track financial transactions, including bills and expenses. The application enables users to create and email invoices, generate reports, and payments, plus generate reports like income statements, general ledgers, and balance sheets.

Multiple users can be added at no additional cost. Each user can be assigned specific permissions as well. The system is mobile-friendly for both Android and iOS users and supports third-party integrations, including Square, Paychex, and more.

Price Free Trial / Demo Features
$16.65/month14-day>Recurring invoices for repeat customers 
>Accept online invoice payments
>Connect to the bank and credit card account
>More features at Kashoo

Pros & Cons of Kashoo Accounting Software

>Simple and easy-to-use interface>No time and inventory tracking
>Manages income and expenses well 
>Tracks project costs 

What Customers Are Saying
“You will enjoy quality service from Kashoo if your business is looking for basic accounting and bookkeeping facilities. The software gives the essentials that any small business needs.”

NCH Express Accounts

NCH Express is an accounting software compatible with both Windows and Mac platforms. The application supports reporting and monitoring of both incoming and outgoing cash flow. It also supports inventory management, employee productivity, timesheet tracking, and project management.

Recurring orders and invoices can be recorded automatically, and businesses can generate professional quotes and invoices. Reporting is robust — businesses can track sales be salesperson, item, or customer. Tax returns can be generated quickly with the application’s financial reports.

Price Free Trial / Demo Features
$69.95/one-timeNone>Tracks sales and accounts receivable
>Updates accounts receivable once invoice is paid 
>Track payments and purchase transactions
>More features at NCH Express Accounts

Pros & Cons of NCH Express Accounts Accounting Software

>Abundant, easy-to-use features>May have steep learning curve
>The system creates basic reports such as income statement analysis, invoices, cash flow statements, and balance sheets. 

What Customers Are Saying
“NCH express is affordable, easy to use, and an efficient accounting system for small business operators.”


Plooto is a great accounting software for small businesses and freelancers seeking to scale their operations and process payments quickly. It provides a trusted end-to-end accounts payable and accounts receivable automation system that guarantees reliable workflows, secure payments, and a streamlined vendor payment process.

The smart workflow feature enables the automation of repetitive manual tasks so businesses can concentrate on core business activities. The system allows for real-time tracking with automatic reconciliation of payments and invoices making businesses nimble and informed of their cash flow. The monthly subscription should enable you to operate an unlimited number of users, unlimited bank accounts, unlimited customers, and vendors.

Price Free Trial / Demo Features
$25/month30-day>Digital approvals on desktop and mobile platforms
>Electronic and check payments
>Fraud detection
>More features at Plooto

Pros & Cons of Plooto Accounting Software

>Easy-to-use, intuitive interface 
>Excellent support team from setup to ongoing use. 
>Pre-authorized debit and credit receivables 

What Customers Are Saying
“Plooto uses a simple AP and AR tool making payments across borders easy. The system synchronizes with other popular programs like QuickBooks online, which is great too.”

Sage 50cloud

Sage 50cloud is a good choice for small enterprises with an expense management system, financial reporting, payroll management, and sales optimization and invoicing features. The application offers cloud back-ups and integrates with Microsoft Office Premium and Sage Payroll.

Its financial forecasting feature lets businesses run “what-if” scenarios to make adjustments accordingly to cover future expenses. This can help in tracking performance of a business’s products and services. This software also provides project management costing, which allows companies to track costs based on a project’s specific phases.

Price Free Trial / Demo Features
$38.75/month30-day>Adds users as business grows
>Smart money management using forecasts
>Analyze vendors to get the best prices
>More features at Sage 50cloud

Pros & Cons of Sage 50cloud Accounting Software

>Exceptional features for most accounting functions  >Does not have a dedicated time tracking feature
>Customizing the system is easy 
>Offers multi-pricing levels 

What Customers Are Saying
“Sage 50cloud is a robust accounting system with comprehensive financial tools that offer generous customization options. The Microsoft Premium Office integration feature makes it a great solution for our accounting department.”


Striven runs on the cloud as an ERP (enterprise resource planning) solution that fits the needs of many industries of all sizes. The main benefit of this software is it’s comprehensive approach to helping multiple business processes, including accounting, inventory management, customer relationship management, project management, and human resources. Its business management center offers tools like a company hub, third-party integrations, calendar, local news feeds with social media integration, dynamic feedback tools, custom reporting, and a customizable dashboard.

It integrates with Microsoft, Google, Yodlee, Authorize.Net, and ShipStation and businesses can access the application on any device anywhere. Striven also provides automatic updates, so there’s no loss in productivity. Customer support is available via live chat, phone, email, and an online helpdesk ticketing system.

Price Free Trial / Demo Features
$20/month14-day>Supply chain management
>Warehouse management
>Human Resource management
>More features at Striven

Pros & Cons of Striven Accounting Software

>A comprehensive and flexible accounting and ERP system>Steeper learning curve for some
>Accessing the cloud-based platform from any device is a plus 

What Customers Are Saying
“Striven is a one-stop shop for running your distribution business, because of its efficiency and time saving feature. The ERP tool is excellent and comprehensive.”

Wave Financial

Wave Financial is a free platform with no limits on invoicing, items, contacts, and primary accounting features. Businesses only have to pay for payment processing, payroll, and professional bookkeeping. Other prominent features include expense tracking, e-commerce functionality, and cash-based accounting.

For specific functions such as payroll, business choose between a tax service and self-service features, and it offers worker’s compensation functionality through third-party partnerships. Another premium service, Wave Advisors, provides experts who are ready to solve any client issue with the platform.

Price Free Trial / Demo Features
Free platformN/A>Dashboard with features and graphs
>Customizable invoicing
>Client portal
>More features at Wave Financial

Pros & Cons of Wave Financial Accounting Software

>Free software that only charges for payroll expenses  >No dedicated time tracking features
>Available features are suitable for small businesses 
>Good invoice and transaction management tools 

What Customers Are Saying
“We use Wave Financial because it’s free and is a perfect fit for small businesses that do not need complex software — the features that the Wave platform offers it handles well. The application synchronizes with our bank account perfectly.”


Xero is a cloud-based accounting software platform for small businesses with 2.38 million subscribers globally. Through Xero, small business owners and their advisors have access to real-time financial data any time, anywhere, and on any device. Xero offers an ecosystem of over 800 third-party apps and 200 plus connections to banks and other financial partners.

Price Free Trial / Demo Features
$9/month Early
$30/month Growing
$60/month Established
30-day>Online invoicing
>Tracking inventory and making purchase orders
>Smart reconciliation
>More features at Xero

Pros & Cons of Xero Accounting Software

>Affordable and reliable>No phone or chat help
>Detailed dashboard 
>Advanced reconciliation tools 

What Customers Are Saying
“Though the mobile application does not have as many features as the leading software, Xero has an excellent support team standing behind the software that offers phenomenon accounting services at a reasonable price.”


Zipbooks is a choice accounting software for small- to medium-size businesses and contractors. The application is a modern invoicing, time tracking, and accounting software that simplifies managing business finances. Payments can be received through PayPal or credit cards, and it provides robust reporting tools.

Other features include a contact database to save all of your business contacts, customizable invoices for professional-looking operations, and advanced accounting features such as automated importation, customizable reports, and bank reconciliation. Zipbooks also provides built-in time tracking, payroll integration, and client texting.

Price Free Trial / Demo Features
$15/month Smarter
$30/month Sophisticated
14-day>Contingency billing
>Mobile payments
>Recurring subscriptions
>More features at Zipbooks

Pros & Cons of Zipbooks Accounting Software

>Good user experience >Does not have tiered user permission
>Tracks tasks, time, and projects 
>Affordable and feature-rich accounting system 

What Customers Are Saying
“The best accounting application for any small business owner to manage their finances quickly and easily!”

Zoho Books

Zoho Books is an intuitive accounting system that offers full account payable and receivable functions making it a great accounting software for small businesses. Its automated features help businesses save time when dealing with customers by allowing for recurring invoices and automatic payment reminders.

Its drag-and-drop invoice tool makes invoicing large orders easy; after invoices are created, they can be sent via email, scheduled for later, or printed off to be mailed. It also offers a customizable payment reminder tool that can be set on a per client basis.

Zoho Books is available on mobile platforms using Android, Windows phones, and iOS. The mobile version enables the invoice creation, reports, expense recording, receipt capture, and time tracking.

Price Free Trial / Demo Features
$9/month Basic
$19/month Standard
$29/month Pro
14-day>Automatic report generation
>Accept online invoice payments
>Keyboard shortcuts for quick navigation
>More features at Zoho Books

Pros & Cons of Zoho Books Accounting Software

>Great record and transaction forms >No fixed assets management
>Supports multiple payment gateways 
>Offers document management 

What Customers Are Saying
“Zoho Books is a complete CRM platform that enables you to take your office with you on the mobile platform.”

What is Accounting Software?

Accounting software is a central system that enables the recording of the flow of money coming in your organization for internal and external reviews during the auditing process. It is an application with tools that small businesses use to gauge their financial health and work within the government set regulations using ledgers, account payables, receivables, billing, and stock management.

The goal of any accounting software is to not only reflect your financial and legal standings but also automate labor-intensive accounting tasks, expedite tax preparation, and reduce human error risks.

Benefits of Accounting Software

The primary benefit of an accounting software is accounting for every aspect of a business’s finances, including:

  • Billing and Invoicing: Some software is dedicated to billing and invoicing transactions, which is integral in any financial process. Automating repetitive operations should be a function of any good accounting software that helps staff concentrate on core business activities.
  • Budget and Forecast: Planning and forecasting is another benefit as it helps your business have a clear understanding of its performance and estimate budgets for the next financial period.
  • Fixed Asset Management: Managing fixed assets can come bundled or as a separate tool that helps maintain the finances relating to the company’s fixed assets. With features such as audit history, depreciation, costs, and resource allocation, it makes it easy to get the exact value of your property.
  • Payroll Management: Accounting systems with a myriad of tools make managing your payroll management task more manageable.
  • Inventory Management: A good accounting software should also help manage inventory to ensure you do not overstock and avoid understocking.

Must-Have Features for Accounting Software

Must-have features will vary on your unique business needs, but considering the following features when comparison shopping:

  1. Invoice Integration. Comprehensive billing and invoicing functionality means you don’t have to purchase a separate module to handle the issuances of invoices.
  2. Allow for Customization. No accounting software can fit all accounting processes, so look for one that is easy to use and allows for customization, so you can cater it to your specific needs.
  3. Support Secure Operations. Business finances are some of the most sensitive data in any organization. Look for software that offers the best security on data transfer and management. Go with a reputable accounting software vendor and confirm security measures in advance.
  4. Mobile Usage. A mobile-ready accounting system is now a necessity for business owners who need regular and timely reports anywhere. An excellent mobile version should operate on Android or iOS devices and offer the full functionality of the web or desktop versions.
  5. Reliable Help Desk. Buying software that does not guarantee reliable support from the help desk is not ideal. It’s best to test the support team before making any necessary purchase.

The Cost of Accounting Software

In general, pricing plans come in monthly or yearly subscriptions or a one-off payment method with additional features added for an extra cost. Some softwares that charge a one-time fee may have licenses that require renewal one a financial year. Differences in costs between platforms vary due to type of features, number of supported users, storage capacity, and access to a help desk.

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