The Best Financial Reporting Software of 2021

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Our Top Picks

Zoho Books

Web-based, cloud, SaaS deployment, mobile app for Android and iOS devices
Integrates with other programs
Includes reporting tools

Zoho Books is a cloud-based online accounting solution that makes it easier for companies to run many aspects of their business. Its many features include Invoicing and estimating tools, a client portal, expense management tools, project management tools, automation workflows, and powerful reporting capabilities. Many aspects of the software are customizable, and it also offers automated workflows to help business professionals save time and minimize manual tasks. The solution integrates with other common programs and payment processing systems, and Zoho Books also offers a mobile app for both Android and iOS devices. A 14-day free trial is offered, and the cost depends on the subscription chosen. Here are some of the features included in Zoho Books:

Reporting tools
Integrates with other programs
Balance sheet
Profit/loss statements
General ledger

Pros & Cons

Zoho Books is an affordable solution, especially when compared to other options on the market. It’s also easy to use and feature-packed. However, it doesn’t include budget forecasting tools and lacks a mobile app.

Pros

Affordable
Easy to use
Feature-packed solution

Cons

No budget forecasting tools
No mobile app

What Customers Are Saying

Customers appreciate the support and updates that are provided. One user noted, “This software has excellent support for its users and gets updates on a regular basis, that is they continue to add new features.” Customers also like Zoho Books’ price point. One user said, “ It’s also affordable, which was a huge deciding factor when I switched from another cloud invoicing program.”

Summary

Zoho Books

Starting Price
- Basic: $9/organization/month
- Standard: $19/organization/month
- Professional: $29/organization/month
Balance Sheet
Yes
General Ledger
Yes
Consolidation/Roll-up
No
Integrations
Yes
Reports
Yes

Features

Web-based, cloud, SaaS deployment, mobile app for Android and iOS devices
Integrates with other programs
Includes reporting tools

NetSuite

Web-based, cloud, SaaS, Android, iOS deployment
Includes budget forecasting tools
Includes reporting tools

NetSuite is another financial reporting software option to consider. Made by Oracle, this is an enterprise resource planning solution that works nicely for businesses in a variety of industries. It offers tools that make it easier for businesses to reduce costs, optimize their finances, and eliminate inefficiencies. NetSuite includes tools for financial reporting, cash management, budgeting and forecasting, and investment management. This software integrates nicely with many other programs and apps. Pricing for NetSuite is quote-based, but a free demo is available. Here are some of the top features included in this software:

Reporting tools
Mobile app
Integrates with other programs
Balance sheet
Profit/loss statements
Consolidation/roll-up
General ledger
Budget forecasting tools

Pros & Cons

This is a customizable solution. It’s also cloud-based and offers a mobile app, making it easy for business professionals to use this software from anywhere. NetSuite also includes budget forecasting tools, which allow for better financial decision-making. One negative is that this solution doesn’t offer a free trial period.

Pros

Cloud-based, which allows it to be accessed anywhere
Customizable solution
Includes budget forecasting tools

Cons

No free trial

What Customers Are Saying

Customers appreciate that this is a cloud-based solution. One happy reviewer commented, “There are many advantages to it being cloud based as opposed to being on premise.” Users also note that this solution is very customizable. According to one reviewer, NetSuite offers “customization of forms, printed forms, reports, workflows, searches, filters, financials, and user interface.”

Summary

NetSuite

Starting Price
- Quote-based pricing
Balance Sheet
Yes
General Ledger
Yes
Consolidation/Roll-up
Yes
Integrations
Yes
Reports
Yes

Features

Web-based, cloud, SaaS, Android, iOS deployment
Includes budget forecasting tools
Includes reporting tools

FreshBooks

Web-based, cloud, SaaS, mobile app for Android and iOS devices
Offers integrations
Provides profit/loss statements

FreshBooks is a well-known, feature-packed financial reporting software. Business owners and financial professionals can handle many tasks with this solution. This includes tracking expenses, sending estimates and proposals, getting paid for work, running business health reports, and running accounting reports. With the solutions offered within FreshBooks, companies can make more informed financial decisions and better plan for the future. FreshBooks integrates with other common programs and apps, including Gusto, Fundbox, Stripe, Bech, G Suite, and HubSpot. This solution offers powerful reporting tools to help businesses interpret important financial data. A variety of monthly plans are available, and a free demo and 30-day trial are also offered. Here are some of the features of FreshBooks:

Reporting tools
Mobile app
Integrates with other programs
Balance sheet
Profit/loss statements
Access controls/permissions

Pros & Cons

FreshBooks is an easy-to-use solution. It integrates well with other programs that businesses may already be using. FreshBooks is missing some features, though. There are no budget forecasting tools, and it doesn’t include consolidation/roll-up capabilities.

Pros

Simple to use
Integrates with other programs

Cons

No budget forecasting tools
No consolidation/roll-up capabilities

What Customers Are Saying

Customers like that this solution is simple to use. They also appreciate that it’s a feature-packed software. One review noted, “FreshBooks is very easy to use and has so many features that help you manage your business in a short time.” Customers also find that the reports look great and they’re easy to run. One satisfied user said, “ I also love how easy it is to build beautiful reports.”

Summary

FreshBooks

Starting Price
- Lite: $15/mo; 5 Billable Clients
- Plus: $25/mo; 50 Billable Clients
- Premium: $50/mo; 500 Billable Clients
- Select: Contact for quote
- *discount available with annual billing
Balance Sheet
Yes
General Ledger
Yes
Consolidation/Roll-up
No
Integrations
Yes
Reports
Yes

Features

Web-based, cloud, SaaS, mobile app for Android and iOS devices
Offers integrations
Provides profit/loss statements

Planning Maestro

Web-based, cloud, SaaS deployment
Integrates with other programs
Includes reporting tools

Planning Maestro is a cloud-based financial reporting software made with small to midmarket organizations in mind. Developed by Centage, this solution makes it easier for companies to streamline their planning processes. Companies can plan and budget as well as forecast the future with multiple scenarios. Pricing is available by requesting a custom quote, and a free demo is offered. Planning Maestro includes powerful reporting tools that make it easier to analyze essential data. This solution also integrates with many commonly used programs, such as NetSuite, QuickBooks Online, Sage Intacct, and SYSPRO. Here are some of the features it includes:

Reporting tools
Integrates with other programs
Balance sheet
Profit/loss statements
Consolidation/roll-up
General ledger
Budget forecasting tools

Pros & Cons

Planning Maestro is a financial reporting software program with a lot of great features. It’s user-friendly, and the company has a responsive customer support team. This solution includes budgeting and forecasting tools. One negative is that Planning Maestro doesn’t provide a mobile app.

Pros

User-friendly
Includes budgeting and forecasting tools
Excellent customer support team

Cons

No mobile app

What Customers Are Saying

Customers like that Planning Maestro offers excellent, friendly support. One reviewer noted, “Their support team is always available to help you through any questions or difficulties you encounter.” Users also appreciate that this solution has powerful forecasting capabilities. One happy customer said that this software is a “very powerful forecasting tool that can handle both simple and complex aspects of forecasting.”

Summary

Planning Maestro

Starting Price
- Quote-based pricing
Balance Sheet
Yes
General Ledger
Yes
Consolidation/Roll-up
Yes
Integrations
Yes
Reports
Yes

Features

Web-based, cloud, SaaS deployment
Integrates with other programs
Includes reporting tools

Spreadsheet Server

Windows, web-based, cloud, SaaS deployment
Includes balance sheet
Includes profit/loss statements

Spreadsheet Server is a cloud-based financial reporting software. This solution can be accessed via the cloud or can be installed on Windows devices. It offers real-time reporting and automatically connects to Excel, making it easier for brands to quickly import data without having to manually make data dumps. The solution helps professionals save time. Its key features include budget tools, ERP reporting, financial statement tools, and interactive visualization reporting tools. Spreadsheet Server integrates with other programs, such as NetSuite, Deltek, Sage, SAP, and Viewpoint. Pricing is available via custom quote, and a free demo is offered. Here are some of the features included in Spreadsheet Server:

Reporting tools
Integrates with other programs
Balance sheet
Profit/loss statements
Consolidation/roll-up
General ledger
Budget forecasting tools

Pros & Cons

Spreadsheet Server connects directly to Excel. This solution runs reports quickly, allowing businesses to save time. It also offers real-time reporting. One missing feature is access to controls/permissions. It’s also worth noting that Spreadsheet Server doesn’t offer a mobile app.

Pros

Connects to Excel
Runs reports quickly
Offers real-time reporting

Cons

No mobile app
No access controls/permissions

What Customers Are Saying

Users appreciate that they can use Excel with this software. One satisfied reviewer commented, “The best thing is that I get to use Excel to build the reports and make them look the way I want. All without having to get custom reports built by the accounting software vendor.” Users also like the solution saves them. One user said, “Spreadsheet Server has drastically reduced my month end close process time. This allows me to review financials more instead of just processing them.”

Summary

Spreadsheet Server

Starting Price
- Quote-based pricing
Balance Sheet
Yes
General Ledger
Yes
Consolidation/Roll-up
Yes
Integrations
Yes
Reports
Yes

Features

Windows, web-based, cloud, SaaS deployment
Includes balance sheet
Includes profit/loss statements

Workday Adaptive Planning

Web-based, cloud, SaaS deployment
Includes budget forecasting tools
Includes reporting tools

Workday Adaptive Planning is an enterprise planning software that makes it easier to improve the reporting process. This cloud-based solution makes it simple for businesses to plan properly, budget better, and forecast so they can make more informed decisions faster. The software includes financial planning, workforce planning, and sales planning tools so businesses can better plan ahead. This solution integrates with common apps and programs, including Salesforce, Microsoft Excel, and Sage. Pricing is available via custom quote, and a free demo is available. The company also offers a 30-day free trial. The features offered by Workday Adaptive Planning include:

Reporting tools
Mobile app
Integrates with other programs
Balance sheet
Profit/loss statements
Consolidation/roll-up
General ledger
Budget forecasting tools
Access controls/Permissions

Pros & Cons

Workday Adaptive Planning is a cloud-based financial reporting solution. The software includes budget forecasting tools and offers many ways to break down essential data. One feature lacking is a mobile app.

Pros

Cloud-based solution
Includes budget forecasting tools
Provides many ways to break down data

Cons

No mobile app

What Customers Are Saying

Users appreciate the budget forecasting tools included in Workday Adaptive Planning. One user noted, “I can forecast monthly, quarterly, or whenever I like.” Customers also like the powerful reporting capabilities, and one noted, “The best part of the software for me is the ability to quickly create reports based on any selected dimensions, levels, and timeframes. This is something that historically would have taken us a significant amount of time and is now done in minutes.”

Summary

Workday Adaptive Planning

Starting Price
- Quote-based pricing
Balance Sheet
Yes
General Ledger
Yes
Consolidation/Roll-up
Yes
Integrations
Yes
Reports
Yes

Features

Web-based, cloud, SaaS deployment
Includes budget forecasting tools
Includes reporting tools

QuickBooks Online

Web-based, cloud, SaaS, mobile app for Android and iOS devices
Includes profit/loss statements
Includes budget forecasting tools

Intuit’s QuickBooks Online is one of the most popular finance reporting software options available. Some of its offerings include income and expense tracking, receipt organization, tax deduction tools, inventory tracking, cash flow management tools, and powerful reporting tools. Many programs integrate with QuickBooks Online, such as PayPal, Shopify, Gusto, and Expensify. The pricing for this software varies depending on the package chosen, and the more expensive packages offer more capabilities. Full-service bookkeeping is also available at an extra cost. A 30-day free trial is offered. Here are some of the capabilities provided by QuickBooks Online:

Reporting tools
Mobile app
Integrates with other programs
Balance sheet
Profit/loss statements
Consolidation/roll-up
General ledger
Budget forecasting tools
Access controls/Permissions

Pros & Cons

QuickBooks Online is a cloud-based solution, which allows it to be used from anywhere. This software integrates with many common apps and includes budgeting tools. One negative is that it isn’t the least expensive financial reporting software solution out there.

Pros

Cloud-based solution
Integrates with many common apps
Includes budgeting tools

Cons

Other solutions are less expensive

What Customers Are Saying

Customers appreciate that this solution offers customizable reporting tools. According to one user, “The number of report options and customization of those reports to fit the needs of our business.” Customers also like the budgeting tools that are offered. One review said, “The budgeting module is very good as it allows me to keep track of my revenue and expenses as per the budget and gives a whole impression on the organization’s performance.”

Summary

QuickBooks Online

Starting Price
- Simple Start: $25/mo
- Plus: $70/mo
- Advanced: $150/mo
- Self-Employed: $15/mo
- Full-Service Bookkeeping: starts at $200/mo + the price of QuickBooks Online
Balance Sheet
Yes
General Ledger
Yes
Consolidation/Roll-up
Yes
Integrations
Yes
Reports
Yes

Features

Web-based, cloud, SaaS, mobile app for Android and iOS devices
Includes profit/loss statements
Includes budget forecasting tools

Sage Intacct

Web-based, cloud, SaaS deployment
Offers profit/loss statements
Includes budget forecasting tools

Sage Intacct is cloud-based financial reporting software that’s made for businesses of all sizes and works well for numerous industries. This solution makes it easier for companies to gain real-time financial and operational data so they’re able to make important decisions. Sage Intacct includes many capabilities and features, such as vendor management, cash management, accounting tools, contract management, project accounting, inventory management, and financial reporting tools. The software also integrates with common programs and apps like Salesforce, Expensify, Paychex, Bill.com, and Tallie. Pricing is available via custom quote, and a free demo is offered. Here are some of the capabilities included in this solution:

Reporting tools
Integrates with other programs
Balance sheet
Profit/loss statements
Consolidation/roll-up
General ledger
Budget forecasting tools

Pros & Cons

Sage Intacct is a financial reporting software that’s user-friendly. It’s also cloud-based, making it easy to access. This solution also integrates nicely with other programs. One missing feature of Sage Intacct is a mobile app, which many other financial reporting software options offer.

Pros

User-friendly
Cloud-based software
Integrates with other programs

Cons

No mobile app

What Customers Are Saying

Customers appreciate that this is an easy-to-use software option. One happy reviewer said, “Within a month of using Sage Intacct, I was able to learn the system without any external training.” Users also like the powerful reporting tools. One user commented, “One of the things I like best about Sage Intacct is the robust reporting capabilities and the ability to ‘slice and dice’ data.”

Summary

Sage Intacct

Starting Price
- Quote-based pricing
Balance Sheet
Yes
General Ledger
Yes
Consolidation/Roll-up
Yes
Integrations
Yes
Reports
Yes

Features

Web-based, cloud, SaaS deployment
Offers profit/loss statements
Includes budget forecasting tools

Float Cash Flow Forecasting

Web-based, cloud, SaaS
Includes reporting tools
Integrates with other programs and apps

Float Cash Flow Forecasting is a cash flow forecasting and scenario planning software. Business owners can use this solution to get a real-time view of their numbers so they’re able to make more informed business and financial decisions. Float Cash Flow Forecasting makes it simple to export reports to share insight with others. This tool also easily integrates with common accounting programs, such as Xero, FreeAgent, and QuickBooks Online. The program automatically imports invoices and bills. A variety of plans are available, and a free trial is offered. Here are some of the features included in Float Cash Flow Forecasting:

Reporting tools
What-if scenario tools
Cash management tools
Integrates with other programs

Pros & Cons

Float Cash Flow Forecasting offers forecasting tools to help businesses better plan their finances. It’s a user-friendly solution that integrates with other accounting programs. One negative is that this solution isn’t available as a mobile app.

Pros

User-friendly
Integrates with accounting software
Includes forecasting tools

Cons

No mobile app

What Customers Are Saying

Customers appreciate that this is an easy-to-use solution. According to one reviewer, “Float is easy to use and not overly complex making it easy for clients to understand.” Customers also like that they can continue to use other financial software along with Flow Cash Flow Forecasting. One happy customer noted, “The integration with both Xero and FreeAgent is good.”

Summary

Float Cash Flow Forecasting

Starting Price
- Quote-based pricing
Balance Sheet
Yes
General Ledger
Yes
Consolidation/Roll-up
No
Integrations
Yes
Reports
Yes

Features

Web-based, cloud, SaaS
Includes reporting tools
Integrates with other programs and apps

Sage 50cloud

Desktop SaaS
Includes reporting tools
Includes budget forecasting tools

Sage 50cloud is a desktop SaaS accounting and payroll solution. Made especially for small businesses, the software includes a variety of features that make it easier for companies to be more productive and make smarter choices. Some of the features offered include cash flow and invoicing tools, inventory management, job costing tools, payroll capabilities, and powerful financial reporting tools. Sage 50cloud integrates with other common programs. Pricing varies depending on the plan chosen, but Sage 50cloud is currently offering discounted pricing for the first year of subscription. A 30-day free trial is available, and a free personalized demo is also offered. Here are some of the features included in this software:

Reporting tools
Mobile app
Integrates with other programs
Balance sheet
Profit/loss statements
Consolidation/roll-up
General ledger
Budget forecasting tools

Pros & Cons

Sage 50cloud is a user-friendly solution with lots of features. The company offers responsive, helpful customer support if something ever goes wrong. One feature that’s missing is access controls/permissions. Additionally, some may find the software pricey compared to other alternatives.

Pros

User-friendly
Feature-packed
Helpful customer support

Cons

No access controls/permissions
Some may find the cost high

What Customers Are Saying

Users appreciate that this solution is easy to use and navigate. According to one satisfied customer, “This software is user-friendly and is easy to use without much struggle.” Users also like how the software allows them to get a detailed look at where their business stands financially. One user noted, “You can get a very in depth look at your business and use it for powerful analysis.”

Summary

Sage 50cloud

Starting Price
- Sage 50cloud Pro Accounting: $567/year
- Sage 50cloud Premium Accounting: $850/year
- Sage 50cloud Quantum Accounting:$1404/year
- *New customers save 40% for the 1st year
Balance Sheet
Yes
General Ledger
Yes
Consolidation/Roll-up
Yes
Integrations
Yes
Reports
Yes

Features

Desktop SaaS
Includes reporting tools
Includes budget forecasting tools

How We Chose the Best Financial Reporting Software

Knowing where a business stands financially is a must. Using financial reporting software can make it easier to handle money matters and predict the future of a business. That’s why companies of all sizes choose to invest in this software solution. Here’s a look at how we chose the best financial reporting software:

Financial Reporting Features

We recommend using software that offers financial reporting features, such as a balance sheet, general ledger, and consolidation/roll-up. The software options we included have these important reporting features.

Integrations

The best financial reporting software should also have pre-built integrations with other programs and apps that businesses are already using, such as accounting systems, CRMs, and other tools. When these programs work together, it’s easier to handle all financial affairs quickly. We included software with good integrations.

Reports

Using software that can generate detailed reports is also recommended. We included solutions with reporting tools that can provide access to essential financial data, which allows owners and managers to better understand the financial health of their business and make more informed decisions.

What Is Financial Reporting Software?

Financial reporting software helps businesses gather and analyze essential financial data. This type of software program is designed to make financial data collection faster and easier and in many cases, automatic. With the use of financial reporting software, companies can make more informed decisions and get a feel for where their financial matters and business success may stand in the future. Not all finance reporting software solutions offer the same features, but many do have similar tools and capabilities to help make running financial reports easier.

Without using this software, it can be difficult for business owners and professionals to understand the health of a business, and they may not see warning signs that software could show them. It can also take a lot longer to compile and analyze financial data, which can negatively impact decision-making. Financial reporting software helps organizations save time, make smarter choices, and learn more about their company. Many business owners and individuals in financial roles choose to use this software to get more done and to be more informed.

Benefits of Financial Reporting Software

There are many advantages to using financial reporting software. Here are some of the benefits of using this kind of software for your business:

Run reports faster: With financial reporting software, users can run essential reports faster, allowing them to get more done and faster.
Get real-time data insights: Finance reporting software programs can give real-time data insights, allowing them to make decisions quickly.
Reduce manual tasks: Financial reporting software can automate time-consuming manual tasks, which helps cut down on wasted time and trim payroll costs.
Be more informed: Using financial reporting software can also make it possible for business owners and professionals to be better informed. They’ll need to guess less and can make smarter choices based on up-to-date information.
Plan for the future: Financial reporting software also makes it easier for companies to plan for the future. With budget and financial forecasting tools, businesses can prepare for and have plans in place for different scenarios.

Must-Have Features of Financial Reporting Software

Not all financial reporting software is the same. It’s important to choose software that has the right features for your company’s needs. Here are some features to look for when you compare financial reporting software programs:

Balance sheet: Financial reporting software should have a balance sheet included in its features. This makes it easier for organizations to clearly see where their finances stand.
Profit/loss statement: The software should include profit/loss statements to help organizations see where their money is going and whether their spending is resulting in revenue.
Budget forecasting tools: Good financial reporting software will include budget forecasting tools. Forecasting allows businesses to plan ahead for a variety of scenarios.
Access controls: Software with access controls are vital so organizations with multiple team members can decide who has access to important financial data.
Integrations with other apps: Many businesses already use other financial and accounting tools, so finance reporting software should integrate with a variety of popular programs.

The Cost of Financial Reporting Software

The cost of financial reporting software varies depending on the size of a business, the number of users, and the features a particular software offers.

In many cases, software companies charge a monthly subscription fee for using their product. These software options are available for under $15 up to $50+ per month.

Some companies charge a flat monthly rate for full access to their software, while others charge on a per-user basis. Depending on the size of your business, you may find one type of pricing more economical.

Many financial reporting software companies offer pricing on a custom quote basis. This can allow you to choose and pay for only the features your company needs.

Free demos are quite common. Free trials for this kind of software are rarer, but some companies do offer limited free trial periods.

When comparing financial reporting software options, it’s wise to determine your needs, then consider features, capabilities, and cost before making a choice.